CITIC Dameng Holdings Limited, an investment holding company, engages in manganese mining, ore processing, and downstream processing operations in Mainland China, Asia, Europe, North America, and internationally.
The last earnings update was 72 days ago.
Discounted Cash Flow Calculation for DB:00D using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for
CITIC Dameng Holdings
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:00D DCF 1st Stage: Next 10 year cash flow forecast
The current share price of
CITIC Dameng Holdings
is above its future cash flow value.
Often investors are willing to pay a
for a company that has a high dividend or the potential for future growth.
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
CITIC Dameng Holdings's
is considered below, and whether this is a fair price.
Price based on past earnings
CITIC Dameng Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
CITIC Dameng Holdings's earnings are expected to grow by 9.1% yearly, however this is not considered high growth (20% yearly).
Unable to determine if CITIC Dameng Holdings 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.
CITIC Dameng Holdings's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
Metals and Mining
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
CITIC Dameng Holdings
has a total score of
4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
The boxes below represent the relative size of what makes up
CITIC Dameng Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
CITIC Dameng Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
CITIC Dameng Holdings's cash and other short term assets cover its long term commitments.
This treemap shows a more detailed breakdown of
CITIC Dameng Holdings'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
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 1.1x debt.
Nearly all companies have debt. Debt in itself isn’t
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.
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.
TENURE AS CEO
Dr. Yin Bo has been the Chief Executive Officer of CITIC Dameng Holdings Limited since September 30, 2016. Dr. Yin served as Vice President at CITIC Dameng Holdings Limited since April 12, 2013 until October 19, 2015. Previously, Dr. Yin served as Deputy Director of general office of Shandong Provincial Government of People's Republic of China ("PRC"). He also held various positions in Shandong Provincial Government of the PRC. Dr. Yin has extensive experience in management. He serves as Chairman of Guizhou Zunyi Hui Xing Ferroalloy Limited. He has been the Chairman of CITIC Dameng Holdings Limited since October 19, 2015. He served as the Chairman of China Polymetallic Mining Limited from August 25, 2015 to September 18, 2015. He serves as Chairman of China Polymetallic Mining Limited. He serves as a Director of CITIC Dameng Mining Industries Co., Limited. He has been Executive Director of CITIC Dameng Holdings Limited since April 12, 2013. He has been Non-Executive Director at China Polymetallic Mining Limited since June 12, 2017. He served as an Executive Director at China Polymetallic Mining Limited from August 19, 2015 to September 18, 2015. Dr. Yin graduated from Shandong Industrial College (now known as Shandong University) with a Bachelor of Science in Electronics in 1982 and University of Hull with a Master's Degree in Business Administration in 1997. He also obtained a Doctorate Degree in Law in Shandong University in 2002.
Bo's compensation has been consistent with company performance over the past year, both up more than 20%.
Bo's remuneration is higher than average for companies of similar size in Germany.
Chairman & CEO
Executive Vice Chairman of the Board
Wai Yip Lau
Company Secretary & CFO
Board of Directors Tenure
Average tenure and age of the
CITIC Dameng Holdings
board of directors in years:
The tenure for the CITIC Dameng Holdings board of directors is about average.
CITIC Dameng Holdings Limited, an investment holding company, engages in manganese mining, ore processing, and downstream processing operations in Mainland China, Asia, Europe, North America, and internationally. It operates through four segments: Manganese Mining and Ore Processing, EMM and Alloying Materials, Battery Materials, and Other business. The Manganese Mining and Ore Processing segment mines and produces manganese products, including manganese concentrate, and natural discharging manganese powder and sand. It has interests in the Daxin mine located to the west of Daxin County in Guangxi; the Tiandeng mine located to the north of Tiandeng County in Guangxi; the Waifu manganese mine located in Jingxi, Guangxi; the Changgou manganese mine located in Guizhou; and the Bembélé manganese mine located to the north of Ndjole town in the Moyen-Ogooue Province of Gabon. The EMM and Alloying Materials segment is involved in the hydrometallurgical and pyrometallurgical processing activities for the production of electrolytic manganese metal (EMM), manganese briquette, and silicomanganese alloys. The Battery Materials segment manufacture and sale of battery materials products, including Electrolytic Manganese Dioxide (“EMD”), manganese sulfate, lithium manganese oxide, lithium nickel cobalt manganese oxide, and lithium cobalt oxide. The Others segment trades in various commodities, such as manganese ores, EMM, manganese alloys, non-manganese metals, and related raw materials, as well as sells scraps, and rents investment properties and leasehold lands. It also manufactures and sells equipment, develops properties, and produces sulphuric acid and steam. The company was founded in 2005 and is headquartered in Wanchai, Hong Kong.
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