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Hosa International

BST:HI3
Snowflake Description

Undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HI3
BST
HK$484M
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

Hosa International Limited engages in the design, manufacture, and wholesale of swimwear and fitness wear in Hong Kong and internationally. The last earnings update was 196 days ago. More info.


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HI3 Share Price and Events
Price Volatility
HI3
Industry
5yr Volatility vs Market

Value

 Is Hosa 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 Hosa 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 Hosa International.

BST:HI3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 17.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.5%

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 BST:HI3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 9.5%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.8
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.799 (1 + (1- 25%) (164.74%))
1.787
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.79
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (1.787 * 9.46%)
17.44%

Discounted Cash Flow Calculation for BST:HI3 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hosa International is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

BST:HI3 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (CNY, Millions) 167.90 174.97 182.34 190.02 198.02
Source Est @ 4.21% Est @ 4.21% Est @ 4.21% Est @ 4.21% Est @ 4.21%
Present Value
Discounted (@ 17.44%)
142.96 126.86 112.57 99.89 88.64
Present value of next 5 years cash flows CN¥570.93
BST:HI3 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= CN¥198.02 × (1 + 0.54%) ÷ (17.44% – 0.54%)
CN¥1,178.21
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= CN¥1,178.21 ÷ (1 + 17.44%)5
CN¥527.40
BST:HI3 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= CN¥570.93 + CN¥527.40
CN¥1,098.33
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥1,098.33 / 1,667.28
CN¥0.66
BST:HI3 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2200)
1.141
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0.66 x 1.141
HK$0.75
Non-primary Listing Adjustment Factor 1 share in BST:HI3 represents 0.11379x of SEHK:2200
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11379x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 0.75 x 0.11379
€0.09
Value per share (EUR) From above. €0.09
Current discount Discount to share price of €0.03
= -1 x (€0.03 - €0.09) / €0.09
61.4%

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

Current Discount
Amount off the current price Hosa International is available for.
Intrinsic value
>50%
Share price is €0.033 vs Future cash flow value of €0.08551
Current Discount Checks
For Hosa International to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Hosa International's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Hosa 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 Hosa International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hosa International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:HI3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2017-12-31) in CNY CN¥0.15
SEHK:2200 Share Price ** SEHK (2018-07-11) in HKD HK$0.29
SEHK:2200 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.877 CN¥0.25
Germany Luxury Industry PE Ratio Median Figure of 8 Publicly-Listed Luxury Companies 23.34x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 18.93x

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

** Primary Listing of Hosa International.

BST:HI3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2200 Share Price ÷ EPS (both in CNY)

= 0.25 ÷ 0.15

1.72x

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

  • Hosa International is good value based on earnings compared to the DE Luxury industry average.
  • Hosa International is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Hosa International's expected growth come at a high price?
Raw Data
BST:HI3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-1.2%per year
Germany Luxury Industry PEG Ratio Median Figure of 5 Publicly-Listed Luxury Companies 1.93x
Germany Market PEG Ratio Median Figure of 275 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Hosa International, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Hosa International's assets?
Raw Data
BST:HI3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2017-12-31) in CNY CN¥1.22
SEHK:2200 Share Price * SEHK (2018-07-11) in HKD HK$0.29
SEHK:2200 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.877 CN¥0.25
Germany Luxury Industry PB Ratio Median Figure of 11 Publicly-Listed Luxury Companies 1.45x
Germany Market PB Ratio Median Figure of 580 Publicly-Listed Companies 1.96x
BST:HI3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2200 Share Price ÷ Book Value per Share (both in CNY)

= 0.25 ÷ 1.22

0.21x

* Primary Listing of Hosa International.

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

  • Hosa International is good value based on assets compared to the DE Luxury industry average.
X
Value checks
We assess Hosa 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 Luxury 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 Luxury industry average (and greater than 0)? (1 check)
  5. Hosa International has a total score of 5/6, 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 Hosa International expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Hosa International, future earnings growth has been estimated based on fundamentals.
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
-1.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hosa International expected to grow at an attractive rate?
  • Hosa International's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Hosa International's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Unable to compare Hosa International's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BST:HI3 Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:HI3 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -1.2%
Germany Luxury Industry Earnings Growth Rate Market Cap Weighted Average 14.8%
Germany Luxury Industry Revenue Growth Rate Market Cap Weighted Average 7.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.4%

*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
BST:HI3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:HI3 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
BST:HI3 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2017-12-31 1,199 88 247
2017-09-30 1,153 152 254
2017-06-30 1,106 217 261
2017-03-31 1,105 149 265
2016-12-31 1,104 82 269
2016-09-30 1,147 44 241
2016-06-30 1,190 6 212
2016-03-31 1,184 120 240
2015-12-31 1,178 234 267
2015-09-30 1,237 310 347
2015-06-30 1,297 387 427
2015-03-31 1,257 378 415

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hosa International's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Hosa International is high growth as no revenue estimate data is available.
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
BST:HI3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Hosa International Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:HI3 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
BST:HI3 Past Financials Data
Date (Data in CNY Millions) EPS *
2017-12-31 0.15
2017-09-30 0.15
2017-06-30 0.16
2017-03-31 0.16
2016-12-31 0.16
2016-09-30 0.15
2016-06-30 0.13
2016-03-31 0.14
2015-12-31 0.16
2015-09-30 0.21
2015-06-30 0.26
2015-03-31 0.25

*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.
  • Unable to establish if Hosa International will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Hosa 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.
Hosa International has a total score of 0/6, 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 Hosa International performed over the past 5 years?

  • Hosa International's last earnings update was 196 days ago.
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 Hosa International's growth in the last year to its industry (Luxury).
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.
  • Hosa International's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Hosa International's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Hosa International's 1-year earnings growth is negative, it can't be compared to the DE Luxury industry average.
Earnings and Revenue History
Hosa 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 Hosa International Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:HI3 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2017-12-31 1,198.77 246.52 221.58
2017-09-30 1,152.59 253.92 228.58
2017-06-30 1,106.41 261.31 235.57
2017-03-31 1,104.98 265.07 265.23
2016-12-31 1,103.54 268.84 294.89
2016-09-30 1,146.96 240.67 336.98
2016-06-30 1,190.37 212.50 379.07
2016-03-31 1,184.19 239.89 352.53
2015-12-31 1,178.00 267.28 326.00
2015-09-30 1,237.29 347.05 282.39
2015-06-30 1,296.58 426.82 238.79
2015-03-31 1,256.56 414.99 230.28
2014-12-31 1,216.55 403.16 221.78
2014-09-30 1,166.65 408.67 204.96
2014-06-30 1,116.76 414.17 188.14
2014-03-31 1,069.14 392.26 183.95
2013-12-31 1,021.52 370.36 179.76
2013-09-30 984.41 355.01 178.78
2013-06-30 947.29 339.67 177.79
2013-03-31 897.68 335.39 169.85
2012-12-31 848.06 331.11 161.91
2012-09-30 804.96 313.26 147.48
2012-06-30 761.87 295.40 133.04
2012-03-31 728.52 284.57 126.73
2011-12-31 695.17 273.73 120.42

*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.
  • Hosa International has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Hosa International used its assets more efficiently than the DE Luxury industry average last year based on Return on Assets.
  • Hosa International's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Hosa 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 Luxury 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.
Hosa International has a total score of 1/6, 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 Hosa 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 Hosa International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hosa International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hosa International's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hosa 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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.9x 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 Hosa International Company Filings, last reported 9 months ago.

BST:HI3 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2017-12-31 2,032.56 698.25 1,787.62
2017-09-30 2,032.56 698.25 1,787.62
2017-06-30 1,990.58 384.63 1,635.60
2017-03-31 1,990.58 384.63 1,635.60
2016-12-31 1,856.19 374.30 1,493.49
2016-09-30 1,856.19 374.30 1,493.49
2016-06-30 1,817.75 196.91 1,288.53
2016-03-31 1,817.75 196.91 1,288.53
2015-12-31 1,710.76 129.74 1,348.02
2015-09-30 1,710.76 129.74 1,348.02
2015-06-30 1,750.99 91.59 1,412.91
2015-03-31 1,750.99 91.59 1,412.91
2014-12-31 1,641.15 0.00 1,282.68
2014-09-30 1,641.15 0.00 1,282.68
2014-06-30 1,506.31 0.00 1,184.67
2014-03-31 1,506.31 0.00 1,184.67
2013-12-31 1,396.06 0.00 1,076.84
2013-09-30 1,396.06 0.00 1,076.84
2013-06-30 1,128.49 0.00 856.33
2013-03-31 1,128.49 0.00 856.33
2012-12-31 1,052.10 86.89 744.38
2012-09-30 1,052.10 86.89 744.38
2012-06-30 919.22 82.00 613.30
2012-03-31 919.22 82.00 613.30
2011-12-31 877.23 0.00 650.25
  • Hosa International's level of debt (34.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (8.2% vs 34.4% today).
  • Debt is not well covered by operating cash flow (12.6%, less than 20% of total debt).
  • Hosa International earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Hosa 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. Hosa International has a total score of 4/6, 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 Hosa 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
17.76%
Current annual income from Hosa International dividends.
If you bought €2,000 of Hosa International shares you are expected to receive €355 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?
  • Hosa International's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.41%).
  • Hosa International's dividend is above the markets top 25% of dividend payers in Germany (3.7%).
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
BST:HI3 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 0 Analyst Estimates (S&P Global) See Below
Germany Luxury Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 1.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 333 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

BST:HI3 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
BST:HI3 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-04-30 0.052 10.982
2017-08-21 0.054 2.537
2017-04-28 0.057 2.691
2016-09-01 0.071 3.122
2016-03-22 0.082 3.821
2016-03-08 0.082 3.607
2015-08-18 0.101 4.185
2015-03-20 0.096 3.159
2015-03-06 0.097 3.562
2014-03-13 0.090 4.132
2013-08-12 0.089 4.353
2013-03-15 0.102 4.475
2012-08-13 0.064 3.530
2012-03-28 0.068 4.508

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

  • Hosa International has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Hosa International has only been paying a dividend for 7 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Hosa International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Hosa 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 Hosa International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hosa International has a total score of 3/6, 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 Hosa 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
Hongyan Shi, image provided by Google.
Hongyan Shi
COMPENSATION CN¥847,000
AGE 49
TENURE AS CEO 8.1 years
CEO Bio

Mr. Hongyan Shi has been Vice Chairman and Chief Executive officer at Hosa International Limited since September 02, 2010. Mr. Shi has been the Vice General Manager of Haosha Industry since January 2011. Mr. Shi has over 20 years of experience in the apparel industry. From 1988 to 1996, he was a sole proprietor in the apparel industry where he primarily engaged in distributing sports wear for women in Beijing, Shanghai and Guangzhou. From 1996 to 2011, he assumed various positions at Haosha Garments. From September 1996 to March 2000, he was the director of Haosha Garments responsible for establishing management systems and overseeing the administrative and business operations. From March 2000 to March 2006, he was the chief production manager responsible for formulating and implementing the production plans and supervising the production process. From March 2006 to February 2011, he was the Director and General Manager of Haosha Garments. From October 2005 to January 2011, he was the General Manager of Haosha Industry where he was responsible for implementing production plans and overseeing the production operation. Since October 2005, he has been the vice chairman of the board of Haosha Industry. He has been an Executive Director at Hosa International Limited since September 02, 2010.

CEO Compensation
  • Hongyan's compensation has been consistent with company performance over the past year.
  • Hongyan's remuneration is lower than average for companies of similar size in Germany.
Management Team

Hongliu Shi

TITLE
Chairman of the Board
COMPENSATION
CN¥967K
AGE
53

Hongyan Shi

TITLE
Vice Chairman & CEO
COMPENSATION
CN¥847K
AGE
49
TENURE
8.1 yrs

Zhixiong Shi

TITLE
Executive Director
COMPENSATION
CN¥613K
AGE
45

Christy Cheng

TITLE
Company Secretary
AGE
36
TENURE
0.2 yrs
Board of Directors Tenure

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

7.3
Average Tenure
49
Average Age
  • The tenure for the Hosa International board of directors is about average.
Board of Directors

Hongliu Shi

TITLE
Chairman of the Board
COMPENSATION
CN¥967K
AGE
53
TENURE
8.1 yrs

Hongyan Shi

TITLE
Vice Chairman & CEO
COMPENSATION
CN¥847K
AGE
49
TENURE
8.1 yrs

Zhixiong Shi

TITLE
Executive Director
COMPENSATION
CN¥613K
AGE
45
TENURE
2.8 yrs

Ge Yao

TITLE
Independent Non Executive Director
COMPENSATION
CN¥180K
AGE
58
TENURE
7.3 yrs

Wenyi He

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥180K
AGE
45
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Value (USD)
20. Aug 18 Sell Ho Born Investment Holdings Limited Company 15. Aug 18 15. Aug 18 -2,200,000 $-96,129.00
20. Aug 18 Sell Well Born Industrial Group Limited Company 15. Aug 18 15. Aug 18 -12,830,000 $-483,780.81
06. Aug 18 Sell Ho Born Investment Holdings Limited Company 03. Aug 18 03. Aug 18 -10,000,000 $-318,130.00
06. Aug 18 Sell Ho Born Investment Holdings Limited Company 01. Aug 18 01. Aug 18 -6,300,000 $-232,526.70
06. Aug 18 Sell Well Born Industrial Group Limited Company 01. Aug 18 01. Aug 18 -7,500,000 $-276,622.50
01. Aug 18 Sell Ho Born Investment Holdings Limited Company 27. Jul 18 27. Jul 18 -488,000 $-18,654.29
01. Aug 18 Sell Well Born Industrial Group Limited Company 27. Jul 18 27. Jul 18 -2,116,000 $-82,638.26
01. Aug 18 Sell Ho Born Investment Holdings Limited Company 30. Jul 18 30. Jul 18 -500,000 $-20,387.00
01. Aug 18 Sell Well Born Industrial Group Limited Company 31. Jul 18 31. Jul 18 -1,000,000 $-39,815.00
30. Jul 18 Sell Ho Born Investment Holdings Limited Company 25. Jul 18 25. Jul 18 -11,744,000 $-446,072.35
27. Jul 18 Sell Ho Born Investment Holdings Limited Company 24. Jul 18 24. Jul 18 -2,000 $-86.66
27. Jul 18 Sell Well Born Industrial Group Limited Company 24. Jul 18 24. Jul 18 -2,002,000 $-91,847.76
20. Jul 18 Sell Ho Born Investment Holdings Limited Company 18. Jul 18 18. Jul 18 -300,000 $-16,128.30
20. Jul 18 Sell Well Born Industrial Group Limited Company 18. Jul 18 18. Jul 18 -2,500,000 $-121,662.50
20. Jul 18 Sell Ho Born Investment Holdings Limited Company 17. Jul 18 17. Jul 18 -2,230,000 $-116,771.72
20. Jul 18 Sell Well Born Industrial Group Limited Company 17. Jul 18 17. Jul 18 -2,000 $-98.10
26. Jul 18 Sell Ho Born Investment Holdings Limited Company 23. Jul 18 23. Jul 18 -2,000 $-86.64
26. Jul 18 Sell Well Born Industrial Group Limited Company 23. Jul 18 23. Jul 18 -2,000 $-86.64
20. Jul 18 Sell Ho Born Investment Holdings Limited Company 19. Jul 18 19. Jul 18 -2,400,000 $-107,623.20
20. Jul 18 Sell Well Born Industrial Group Limited Company 19. Jul 18 19. Jul 18 -1,465,232 $-65,145.68
17. Jul 18 Sell Ho Born Investment Holdings Limited Company 13. Jul 18 13. Jul 18 -2,000 $-77.72
17. Jul 18 Sell Well Born Industrial Group Limited Company 13. Jul 18 13. Jul 18 -2,000 $-77.72
19. Jul 18 Sell Ho Born Investment Holdings Limited Company 16. Jul 18 16. Jul 18 -2,000 $-77.72
19. Jul 18 Sell Well Born Industrial Group Limited Company 16. Jul 18 16. Jul 18 -2,000 $-77.72
17. Jul 18 Sell Ho Born Investment Holdings Limited Company 12. Jul 18 12. Jul 18 -1,002,000 $-47,235.28
17. Jul 18 Sell Well Born Industrial Group Limited Company 12. Jul 18 12. Jul 18 -2,000 $-101.93
16. Jul 18 Sell Ho Born Investment Holdings Limited Company 11. Jul 18 11. Jul 18 -50,784,000 $-2,963,246.40
16. Jul 18 Sell Well Born Industrial Group Limited Company 11. Jul 18 11. Jul 18 -6,924,000 $-446,355.66
05. Jul 18 Sell Ho Born Investment Holdings Limited Company 29. Jun 18 29. Jun 18 -10,766,000 $-725,384.60
04. Jul 18 Sell Ho Born Investment Holdings Limited Company 28. Jun 18 28. Jun 18 -200,000 $-52,751.20
02. Feb 18 Sell Chengyu Fang Individual 02. Feb 18 02. Feb 18 -5,000,000 $-1,821,955.00
02. Feb 18 Sell Chengyu Fang Individual 01. Feb 18 01. Feb 18 -10,100,000 $-3,680,046.10
16. Jan 18 Sell Chengyu Fang Individual 11. Jan 18 11. Jan 18 -2,200,000 $-851,415.40
16. Jan 18 Sell Chengyu Fang Individual 12. Jan 18 12. Jan 18 -2,700,000 $-1,039,861.80
X
Management checks
We assess Hosa 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. Hosa 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

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Company Info

Map
Description

Hosa International Limited engages in the design, manufacture, and wholesale of swimwear and fitness wear in Hong Kong and internationally. The company operates through Swimwear-Hosa, Swimwear-Water Cube, Fitness Wear-Hosa, and Fabrics segments. It offers fitness wear, including mid-to-high end yoga apparel, fitness apparel, track suits, dance apparel, and fitness jackets for women and men. The company also provides swim wear products comprising swimsuits for competition; sports swimsuits and casual swimwear for women and men; sports underwear and accessories; and children swimsuits, as well as beachwear. In addition, it is involved in the manufacture and sale of fabrics. The company offers its products under the Hosa and Water Cube brands. HOSA International Limited was founded in 1996 and is based in Wanchai, Hong Kong. Hosa International Limited is a subsidiary of Ho Born Investment Holdings Limited.

Details
Name: Hosa International Limited
HI3
Exchange: BST
Founded: 1996
HK$53,613,631
1,667,276,000
Website: http://www.hosa.cn
Address: Hosa International Limited
Dominion Centre,
Room 2106, 21st Floor,
Wanchai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2200 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 16. Dec 2011
DB HI3 Ordinary Shares Deutsche Boerse AG DE EUR 16. Dec 2011
BST HI3 Ordinary Shares Boerse-Stuttgart DE EUR 16. Dec 2011
Number of employees
Current staff
Staff numbers
1,300
Hosa International employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/10/08 18:49
End of day share price update: 2018/07/11 00:00
Last estimates confirmation: 2016/03/08
Last earnings filing: 2018/03/26
Last earnings reported: 2017/12/31
Last annual earnings reported: 2017/12/31


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.