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Tianneng Power International

DB:TPQ
Snowflake Description

Very undervalued with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TPQ
DB
HK$8B
Market Cap
  1. Home
  2. DE
  3. Automobiles
Company description

Tianneng Power International Limited, an investment holding company, researches, develops, manufactures, and sells power batteries for electric vehicle market in the People’s Republic of China. The last earnings update was 116 days ago. More info.


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TPQ Share Price and Events
7 Day Returns
6.5%
DB:TPQ
-0.1%
DE Auto Components
-0.6%
DE Market
1 Year Returns
-38.5%
DB:TPQ
-40.5%
DE Auto Components
-8.3%
DE Market
TPQ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tianneng Power International (TPQ) 6.5% 12.1% -11.2% -38.5% 22.3% 189.6%
DE Auto Components -0.1% -2% -23.2% -40.5% -34.1% -33.3%
DE Market -0.6% 1.8% -3.2% -8.3% 8.9% 10.6%
1 Year Return vs Industry and Market
  • TPQ outperformed the Auto Components industry which returned -40.5% over the past year.
  • TPQ underperformed the Market in Germany which returned -8.3% over the past year.
Price Volatility
TPQ
Industry
5yr Volatility vs Market

Value

 Is Tianneng Power International undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Tianneng Power International to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Tianneng Power International.

DB:TPQ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:TPQ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.265 (1 + (1- 25%) (40.31%))
1.434
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.43
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.434 * 6.65%)
9.76%

Discounted Cash Flow Calculation for DB:TPQ using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tianneng Power International is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:TPQ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 9.76%)
2020 1,824.67 Analyst x3 1,662.36
2021 1,928.00 Analyst x3 1,600.25
2022 1,662.00 Analyst x1 1,256.76
2023 1,613.00 Analyst x1 1,111.21
2024 1,580.29 Est @ -2.03% 991.84
2025 1,558.95 Est @ -1.35% 891.40
2026 1,545.27 Est @ -0.88% 804.98
2027 1,536.84 Est @ -0.55% 729.37
2028 1,532.02 Est @ -0.31% 662.41
2029 1,529.70 Est @ -0.15% 602.57
Present value of next 10 years cash flows CN¥10,313.15
DB:TPQ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥1,529.70 × (1 + 0.23%) ÷ (9.76% – 0.23%)
CN¥16,078.04
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥16,078.04 ÷ (1 + 9.76%)10
CN¥6,333.40
DB:TPQ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥10,313.15 + CN¥6,333.40
CN¥16,646.55
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥16,646.55 / 1,126.73
CN¥14.77
DB:TPQ Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:819)
1.136
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥14.77 x 1.136
HK$16.78
Non-primary Listing Adjustment Factor 1 share in DB:TPQ represents 0.11182x of SEHK:819
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11182x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 16.78 x 0.11182
€1.88
Value per share (EUR) From above. €1.88
Current discount Discount to share price of €0.76
= -1 x (€0.76 - €1.88) / €1.88
59.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Tianneng Power International is available for.
Intrinsic value
>50%
Share price is €0.76 vs Future cash flow value of €1.88
Current Discount Checks
For Tianneng Power International to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tianneng Power International's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tianneng Power International's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tianneng Power International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tianneng Power International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TPQ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥1.11
SEHK:819 Share Price ** SEHK (2019-07-18) in HKD HK$6.76
SEHK:819 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥5.95
Germany Auto Components Industry PE Ratio Median Figure of 11 Publicly-Listed Auto Components Companies 13.81x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.71x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Tianneng Power International.

DB:TPQ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:819 Share Price ÷ EPS (both in CNY)

= 5.95 ÷ 1.11

5.35x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tianneng Power International is good value based on earnings compared to the DE Auto Components industry average.
  • Tianneng Power International is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Tianneng Power International's expected growth come at a high price?
Raw Data
DB:TPQ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.35x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
8.8%per year
Germany Auto Components Industry PEG Ratio Median Figure of 10 Publicly-Listed Auto Components Companies 0.61x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

DB:TPQ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.35x ÷ 8.8%

0.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tianneng Power International is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Tianneng Power International's assets?
Raw Data
DB:TPQ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥4.92
SEHK:819 Share Price * SEHK (2019-07-18) in HKD HK$6.76
SEHK:819 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥5.95
Germany Auto Components Industry PB Ratio Median Figure of 12 Publicly-Listed Auto Components Companies 1.24x
Germany Market PB Ratio Median Figure of 569 Publicly-Listed Companies 1.75x
DB:TPQ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:819 Share Price ÷ Book Value per Share (both in CNY)

= 5.95 ÷ 4.92

1.21x

* Primary Listing of Tianneng Power International.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tianneng Power International is good value based on assets compared to the DE Auto Components industry average.
X
Value checks
We assess Tianneng Power International's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto Components industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto Components industry average (and greater than 0)? (1 check)
  5. Tianneng Power International has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Tianneng Power International expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tianneng Power International expected to grow at an attractive rate?
  • Tianneng Power International's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Tianneng Power International's earnings growth is positive but not above the Germany market average.
  • Tianneng Power International's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TPQ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TPQ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 8.8%
DB:TPQ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 9.1%
Germany Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 9.3%
Germany Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.2%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:TPQ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TPQ Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 45,717 2,250 1,620 6
2020-12-31 42,405 2,452 1,466 7
2019-12-31 38,874 1,915 1,339 7
DB:TPQ Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 34,552 2,077 1,252
2018-09-30 32,300 2,400 1,252
2018-06-30 30,049 2,724 1,252
2018-03-31 28,476 2,463 1,215
2017-12-31 26,904 2,202 1,178
2017-09-30 25,321 2,074 1,039
2017-06-30 23,737 1,946 899
2017-03-31 22,609 2,018 879
2016-12-31 21,481 2,089 859
2016-09-30 20,429 1,865 799
2016-06-30 19,378 1,642 740
2016-03-31 18,591 1,826 676

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tianneng Power International's earnings are expected to grow by 8.8% yearly, however this is not considered high growth (20% yearly).
  • Tianneng Power International's revenue is expected to grow by 9.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:TPQ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Tianneng Power International Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TPQ Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.41 1.85 0.80 4.00
2020-12-31 1.28 1.62 0.85 4.00
2019-12-31 1.17 1.41 0.90 4.00
DB:TPQ Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 1.11
2018-09-30 1.11
2018-06-30 1.11
2018-03-31 1.08
2017-12-31 1.05
2017-09-30 0.92
2017-06-30 0.80
2017-03-31 0.78
2016-12-31 0.76
2016-09-30 0.71
2016-06-30 0.66
2016-03-31 0.60

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Tianneng Power International is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Tianneng Power International's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tianneng Power International has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Tianneng Power International performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Tianneng Power International's growth in the last year to its industry (Auto Components).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Tianneng Power International has delivered over 20% year on year earnings growth in the past 5 years.
  • Tianneng Power International's 1-year earnings growth is less than its 5-year average (6.3% vs 47.9%)
  • Tianneng Power International's earnings growth has exceeded the DE Auto Components industry average in the past year (6.3% vs -12.5%).
Earnings and Revenue History
Tianneng Power International's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Tianneng Power International Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TPQ Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 34,552.09 1,252.43 1,476.02 1,114.29
2018-09-30 32,300.34 1,252.40 1,406.54 1,041.19
2018-06-30 30,048.60 1,252.38 1,254.19 968.08
2018-03-31 28,476.25 1,215.37 1,188.99 925.37
2017-12-31 26,903.90 1,178.37 1,206.66 882.66
2017-09-30 25,320.64 1,038.82 1,112.70 835.46
2017-06-30 23,737.38 899.27 1,018.74 788.26
2017-03-31 22,609.14 878.91 989.51 742.38
2016-12-31 21,480.89 858.55 960.28 696.50
2016-09-30 20,429.25 799.36 949.07 648.70
2016-06-30 19,377.61 740.18 937.86 600.89
2016-03-31 18,590.84 675.56 929.99 583.36
2015-12-31 17,804.07 610.94 922.13 565.84
2015-09-30 16,401.10 264.24 943.10 537.23
2015-06-30 14,998.13 -82.45 964.07 508.63
2015-03-31 14,520.93 -193.68 983.75 456.64
2014-12-31 14,043.73 -304.92 1,003.42 404.65
2014-09-30 14,168.56 -102.97 957.10 371.22
2014-06-30 14,293.38 98.98 910.78 337.78
2014-03-31 13,964.22 117.14 845.36 346.54
2013-12-31 13,635.06 135.30 779.94 355.31
2013-09-30 12,808.68 276.08 713.04 341.92
2013-06-30 11,982.30 416.87 646.15 328.53
2013-03-31 10,934.97 563.50 599.43 311.06
2012-12-31 9,887.64 710.14 552.71 293.59
2012-09-30 8,356.45 750.69 484.85 278.91

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Tianneng Power International has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Tianneng Power International used its assets more efficiently than the DE Auto Components industry average last year based on Return on Assets.
  • Tianneng Power International has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tianneng Power International's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto Components industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Tianneng Power International has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Tianneng Power International's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Tianneng Power International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tianneng Power International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tianneng Power International's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tianneng Power International's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Tianneng Power International Company Filings, last reported 6 months ago.

DB:TPQ Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 5,773.28 2,702.55 5,903.90
2018-09-30 5,773.28 2,702.55 5,903.90
2018-06-30 5,142.94 3,422.91 4,796.71
2018-03-31 5,142.94 3,422.91 4,796.71
2017-12-31 5,063.49 2,228.70 3,872.39
2017-09-30 5,063.49 2,228.70 3,872.39
2017-06-30 4,319.81 3,264.62 3,541.65
2017-03-31 4,319.81 3,264.62 3,541.65
2016-12-31 4,106.60 1,992.05 1,935.73
2016-09-30 4,106.60 1,992.05 1,935.73
2016-06-30 3,613.23 2,561.20 1,816.52
2016-03-31 3,613.23 2,561.20 1,816.52
2015-12-31 3,467.14 2,159.69 1,490.27
2015-09-30 3,467.14 2,159.69 1,490.27
2015-06-30 3,016.56 2,830.05 1,316.16
2015-03-31 3,016.56 2,830.05 1,316.16
2014-12-31 2,745.64 3,573.15 1,625.16
2014-09-30 2,745.64 3,573.15 1,625.16
2014-06-30 3,076.58 3,920.04 903.18
2014-03-31 3,076.58 3,920.04 903.18
2013-12-31 3,062.27 2,797.40 945.75
2013-09-30 3,062.27 2,797.40 945.75
2013-06-30 3,013.55 3,010.39 1,010.73
2013-03-31 3,013.55 3,010.39 1,010.73
2012-12-31 3,122.34 2,906.39 1,025.16
2012-09-30 3,122.34 2,906.39 1,025.16
  • Tianneng Power International's level of debt (46.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (91.8% vs 46.8% today).
  • Debt is well covered by operating cash flow (76.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.4x coverage).
X
Financial health checks
We assess Tianneng Power International's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Tianneng Power International has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Tianneng Power International's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.6%
Current annual income from Tianneng Power International dividends. Estimated to be 7.21% next year.
If you bought €2,000 of Tianneng Power International shares you are expected to receive €112 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Tianneng Power International's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Tianneng Power International's dividend is above the markets top 25% of dividend payers in Germany (3.85%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:TPQ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Germany Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 4.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:TPQ Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.48 5.00
2020-12-31 0.44 6.00
2019-12-31 0.38 6.00
DB:TPQ Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-25 0.333 5.667
2019-03-22 0.333 5.053
2018-03-26 0.309 4.334
2018-03-23 0.309 5.154
2017-03-27 0.229 3.860
2016-03-18 0.267 4.759
2015-09-04 0.000 0.000
2015-08-31 0.000 0.000
2015-03-27 0.000 0.000
2014-03-31 0.036 1.825
2014-03-17 0.036 1.628
2013-09-06 0.189 8.092
2013-08-30 0.189 7.835
2013-03-19 0.192 6.113
2012-03-26 0.167 4.387
2011-03-31 0.098 3.092
2011-03-28 0.098 3.128
2010-03-22 0.074 2.579
2009-04-06 0.070 2.748
2009-03-27 0.070 5.963

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Tianneng Power International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.9x coverage).
X
Income/ dividend checks
We assess Tianneng Power International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Tianneng Power International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tianneng Power International has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Tianneng Power International's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tianren Zhang
COMPENSATION CN¥1,551,000
AGE 56
CEO Bio

Dr. Zhang Tianren is the Founder of Tianneng Power International Limited and serves as its Chairman, President and Chief Executive Officer. Dr. Zhang has been the Chairman and General Manager of Tianneng Battery since 2003. He has over 19 years of experience in management of motive battery industry in China. He served as Factory Manager of Zhejiang Changxing Storage Battery Factory from 1989 to 2002. Dr. Zhang served various positions in the rechargeable battery and other related industries. Dr. Zhang serves as Vice Council Chairman of the PRC Battery Industry Association and Chairman of the Rechargeable Battery Industry Association in Zhejiang Province. Dr. Zhang was named as one of the township entrepreneurs of China in 2001. He is qualified Senior Economist since April 2002.

CEO Compensation
  • Tianren's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Tianren's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Tianneng Power International management team in years:

9.8
Average Tenure
56
Average Age
  • The average tenure for the Tianneng Power International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tianren Zhang

TITLE
Founder
COMPENSATION
CN¥2M
AGE
56

Kaihong Zhang

TITLE
VP & Executive Director
COMPENSATION
CN¥500K
AGE
61

Aogen Zhang

TITLE
VP & Executive Director
COMPENSATION
CN¥528K
AGE
61

Borong Shi

TITLE
VP & Executive Director
COMPENSATION
CN¥535K
AGE
65

Jianzhong Zhou

TITLE
VP & Executive Director
COMPENSATION
CN¥588K
AGE
48
TENURE
8.5 yrs

Jing Wang

TITLE
Financial Controller
AGE
55
TENURE
10.5 yrs

Anfu Ren

TITLE
Chief Engineer and Deputy Head of Research Institution
AGE
50
TENURE
11.5 yrs

Shirley Hui

TITLE
Company Secretary
AGE
52
TENURE
9.8 yrs

Cheng Wen Cheng

TITLE
Business Consultant
COMPENSATION
CN¥106K
AGE
74
TENURE
8.2 yrs
Board of Directors Tenure

Average tenure and age of the Tianneng Power International board of directors in years:

4.2
Average Tenure
61
Average Age
  • The tenure for the Tianneng Power International board of directors is about average.
Board of Directors

Tianren Zhang

TITLE
Founder
COMPENSATION
CN¥2M
AGE
56

Kaihong Zhang

TITLE
VP & Executive Director
COMPENSATION
CN¥500K
AGE
61

Aogen Zhang

TITLE
VP & Executive Director
COMPENSATION
CN¥528K
AGE
61

Borong Shi

TITLE
VP & Executive Director
COMPENSATION
CN¥535K
AGE
65

Jianzhong Zhou

TITLE
VP & Executive Director
COMPENSATION
CN¥588K
AGE
48
TENURE
4.3 yrs

Dongliang Huang

TITLE
Independent Non Executive Director
COMPENSATION
CN¥206K
AGE
64
TENURE
12.4 yrs

Feng Wu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥200K
AGE
68
TENURE
4.1 yrs

Yong Zhang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥82K
AGE
43
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
18. Oct 18 Sell BlackRock, Inc. Company 15. Oct 18 15. Oct 18 -472,000 €0.68 €-318,732
01. Sep 18 Sell BlackRock, Inc. Company 30. Aug 18 30. Aug 18 -6,538,000 €1.08 €-7,034,271
X
Management checks
We assess Tianneng Power International's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Tianneng Power International has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Tianneng Power International Limited, an investment holding company, researches, develops, manufactures, and sells power batteries for electric vehicle market in the People’s Republic of China. It offers lead-acid motive batteries for use in electric cars, bicycles, and tricycles; lithium batteries for new energy vehicles; start-and-stop batteries for vehicles; and wind power and solar power storage batteries, as well as recycled batteries and battery related accessories. The company also manufactures and sells electrode plates; sells metal materials; trades in new energy materials; and provides integrated power storage ancillary services. Tianneng Power International Limited was founded in 1986 and is based in Wanchai, Hong Kong.

Details
Name: Tianneng Power International Limited
TPQ
Exchange: DB
Founded: 1986
HK$868,053,347
1,126,726,500
Website: http://www.tianneng.com.hk
Address: Tianneng Power International Limited
Central Plaza,
32nd Floor,
Wanchai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 819 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 11. Jun 2007
OTCPK TIAN.F Ordinary Shares Pink Sheets LLC US USD 11. Jun 2007
DB TPQ Ordinary Shares Deutsche Boerse AG DE EUR 11. Jun 2007
SHSC 819 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 11. Jun 2007
SZSC 819 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 11. Jun 2007
Number of employees
Current staff
Staff numbers
20,508
Tianneng Power International employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 21:09
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/04/26
Last earnings filing: 2019/03/24
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.