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Shenzhen Investment

DB:SHS
Snowflake Description

Established dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SHS
DB
HK$24B
Market Cap
  1. Home
  2. DE
  3. Real Estate
Company description

Shenzhen Investment Limited, together with its subsidiaries, invests in, develops, and manages real estate properties in Mainland China. The last earnings update was 27 days ago. More info.


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SHS Share Price and Events
7 Day Returns
-3.8%
DB:SHS
0.1%
DE Real Estate
0.3%
DE Market
1 Year Returns
-12%
DB:SHS
12.5%
DE Real Estate
-11.6%
DE Market
SHS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shenzhen Investment (SHS) -3.8% -11% -1% -12% -11% 33.5%
DE Real Estate 0.1% 5.5% 4.1% 12.5% 48.1% 137.4%
DE Market 0.3% -3.8% 2.5% -11.6% 10.1% 7.9%
1 Year Return vs Industry and Market
  • SHS underperformed the Real Estate industry which returned 12.5% over the past year.
Price Volatility
SHS
Industry
5yr Volatility vs Market

Value

 Is Shenzhen Investment 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 Shenzhen Investment 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 Shenzhen Investment.

DB:SHS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.8%
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:SHS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 0.99
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.986 (1 + (1- 25%) (150.54%))
1.736
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.74
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.736 * 6.65%)
11.77%

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

The calculations below outline how an intrinsic value for Shenzhen Investment 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:SHS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 11.77%)
2019 1,186.00 Analyst x1 1,061.07
2020 867.41 Est @ -26.86% 694.30
2021 704.90 Est @ -18.74% 504.78
2022 612.94 Est @ -13.05% 392.69
2023 557.38 Est @ -9.06% 319.48
2024 522.40 Est @ -6.28% 267.89
2025 499.81 Est @ -4.33% 229.31
2026 485.02 Est @ -2.96% 199.08
2027 475.30 Est @ -2% 174.54
2028 468.96 Est @ -1.33% 154.07
Present value of next 10 years cash flows HK$3,997.22
DB:SHS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$468.96 × (1 + 0.23%) ÷ (11.77% – 0.23%)
HK$4,070.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$4,070.93 ÷ (1 + 11.77%)10
HK$1,337.47
DB:SHS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$3,997.22 + HK$1,337.47
HK$5,334.69
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$5,334.69 / 8,440.06
HK$0.63
DB:SHS Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:SHS represents 0.10964x of SEHK:604
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10964x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 0.63 x 0.10964
€0.07
Value per share (EUR) From above. €0.07
Current discount Discount to share price of €0.31
= -1 x (€0.31 - €0.07) / €0.07
-343%

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

  • The current share price of Shenzhen Investment is above its future cash flow value.
Often investors are willing to pay a premium 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 Shenzhen Investment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shenzhen Investment's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:SHS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.42
SEHK:604 Share Price ** SEHK (2019-05-21) in HKD HK$2.8
Germany Real Estate Industry PE Ratio Median Figure of 32 Publicly-Listed Real Estate Companies 16.09x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 20.29x

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

** Primary Listing of Shenzhen Investment.

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

= SEHK:604 Share Price ÷ EPS (both in HKD)

= 2.8 ÷ 0.42

6.68x

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

  • Shenzhen Investment is good value based on earnings compared to the DE Real Estate industry average.
  • Shenzhen Investment is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Shenzhen Investment's expected growth come at a high price?
Raw Data
DB:SHS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
8.2%per year
Germany Real Estate Industry PEG Ratio Median Figure of 19 Publicly-Listed Real Estate Companies 1.03x
Germany Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.68x ÷ 8.2%

0.81x

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

  • Shenzhen Investment is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Shenzhen Investment's assets?
Raw Data
DB:SHS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$4.96
SEHK:604 Share Price * SEHK (2019-05-21) in HKD HK$2.8
Germany Real Estate Industry PB Ratio Median Figure of 42 Publicly-Listed Real Estate Companies 1.36x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.79x
DB:SHS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:604 Share Price ÷ Book Value per Share (both in HKD)

= 2.8 ÷ 4.96

0.56x

* Primary Listing of Shenzhen Investment.

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

  • Shenzhen Investment is good value based on assets compared to the DE Real Estate industry average.
X
Value checks
We assess Shenzhen Investment'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Shenzhen Investment has a total score of 4/6, 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 Shenzhen Investment expected to perform in the next 1 to 3 years based on estimates from 6 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
8.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shenzhen Investment expected to grow at an attractive rate?
  • Shenzhen Investment's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Shenzhen Investment's earnings growth is positive but not above the Germany market average.
  • Shenzhen Investment's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:SHS Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SHS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 8.2%
DB:SHS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 15.3%
Germany Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -4.9%
Germany Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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:SHS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:SHS Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 26,710 1,141 4,368 4
2020-12-31 23,706 834 3,947 4
2019-12-31 20,493 1,284 3,578 4
DB:SHS Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 16,643 -1,159 3,415
2018-09-30 16,374 -3,569 2,477
2018-06-30 16,105 -5,979 1,540
2018-03-31 13,180 -5,202 3,245
2017-12-31 10,254 -4,426 4,951
2017-09-30 15,340 -1,793 5,048
2017-06-30 20,425 840 5,145
2017-03-31 20,890 4,119 4,158
2016-12-31 21,354 7,397 3,171
2016-09-30 19,943 8,907 3,355
2016-06-30 18,532 10,417 3,539
2016-03-31 18,480 7,086 3,204

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shenzhen Investment's earnings are expected to grow by 8.2% yearly, however this is not considered high growth (20% yearly).
  • Shenzhen Investment's revenue is expected to grow by 15.3% 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:SHS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Shenzhen Investment Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SHS Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.51 0.63 0.41 3.00
2020-12-31 0.47 0.54 0.40 3.00
2019-12-31 0.42 0.46 0.39 3.00
DB:SHS Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.42
2018-09-30 0.31
2018-06-30 0.19
2018-03-31 0.41
2017-12-31 0.64
2017-09-30 0.66
2017-06-30 0.68
2017-03-31 0.55
2016-12-31 0.42
2016-09-30 0.45
2016-06-30 0.48
2016-03-31 0.44

*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.
  • Shenzhen Investment is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Shenzhen Investment'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.
Shenzhen Investment 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 Shenzhen Investment 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 Shenzhen Investment's growth in the last year to its industry (Real Estate).
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.
  • Shenzhen Investment's year on year earnings growth rate has been positive over the past 5 years.
  • Shenzhen Investment's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Shenzhen Investment's 1-year earnings growth is negative, it can't be compared to the DE Real Estate industry average.
Earnings and Revenue History
Shenzhen Investment'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 Shenzhen Investment Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SHS Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 16,642.77 3,415.22 1,209.17
2018-09-30 16,373.83 2,477.37 1,178.70
2018-06-30 16,104.90 1,539.53 1,148.23
2018-03-31 13,179.70 3,245.23 1,132.27
2017-12-31 10,254.50 4,950.94 1,116.30
2017-09-30 15,339.82 5,047.73 1,159.14
2017-06-30 20,425.14 5,144.52 1,201.97
2017-03-31 20,889.57 4,157.55 1,260.25
2016-12-31 21,353.99 3,170.58 1,318.52
2016-09-30 19,942.88 3,354.69 1,343.66
2016-06-30 18,531.76 3,538.80 1,368.79
2016-03-31 18,479.97 3,203.80 1,359.59
2015-12-31 18,428.17 2,868.80 1,350.39
2015-09-30 17,138.36 3,014.75 1,435.78
2015-06-30 15,848.56 3,160.71 1,521.17
2015-03-31 14,837.83 3,145.04 1,466.72
2014-12-31 13,827.11 3,129.37 1,412.27
2014-09-30 11,482.84 2,538.66 1,209.29
2014-06-30 9,138.57 1,947.95 1,006.31
2014-03-31 9,458.69 2,338.18 998.85
2013-12-31 9,778.81 2,728.40 991.39
2013-06-30 10,214.76 2,956.13 905.71
2013-03-31 9,263.74 2,556.86 915.69
2012-12-31 8,312.73 2,157.59 925.66
2012-09-30 7,866.97 1,811.02 989.00
2012-06-30 7,165.68 1,465.98 976.05

*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.
  • Shenzhen Investment has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Shenzhen Investment used its assets less efficiently than the DE Real Estate industry average last year based on Return on Assets.
  • Shenzhen Investment's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Shenzhen Investment'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 Real Estate 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.
Shenzhen Investment 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 Shenzhen Investment'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 Shenzhen Investment's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shenzhen Investment is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Shenzhen Investment's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Shenzhen Investment'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 1.7x 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 Shenzhen Investment Company Filings, last reported 4 months ago.

DB:SHS Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 45,443.70 35,576.44 12,153.31
2018-09-30 45,443.70 35,576.44 12,153.31
2018-06-30 43,619.47 30,908.21 7,937.27
2018-03-31 43,619.47 30,908.21 7,937.27
2017-12-31 45,100.83 33,956.18 14,631.34
2017-09-30 45,100.83 33,956.18 14,631.34
2017-06-30 39,842.16 25,069.21 7,594.60
2017-03-31 39,842.16 25,069.21 7,594.60
2016-12-31 36,220.93 24,946.04 10,998.12
2016-09-30 36,220.93 24,946.04 10,998.12
2016-06-30 35,413.80 28,162.59 10,262.76
2016-03-31 35,413.80 28,162.59 10,262.76
2015-12-31 35,569.07 27,218.86 10,242.81
2015-09-30 35,569.07 27,218.86 10,242.81
2015-06-30 35,728.67 35,375.77 10,858.15
2015-03-31 35,728.67 35,375.77 10,858.15
2014-12-31 32,773.64 33,047.72 9,056.67
2014-09-30 32,773.64 33,047.72 9,056.67
2014-06-30 27,318.94 31,708.36 6,483.24
2014-03-31 27,318.94 31,708.36 6,483.24
2013-12-31 27,579.35 30,001.58 7,260.69
2013-06-30 25,979.97 28,630.36 6,824.39
2013-03-31 25,979.97 28,630.36 6,824.39
2012-12-31 19,509.84 22,959.37 7,586.67
2012-09-30 19,509.84 22,959.37 7,623.44
2012-06-30 17,631.57 22,625.03 8,268.92
  • Shenzhen Investment's level of debt (78.3%) 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 (108.9% vs 78.3% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 158.3x coverage).
X
Financial health checks
We assess Shenzhen Investment'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. Shenzhen Investment 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 Shenzhen Investment'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
6.43%
Current annual income from Shenzhen Investment dividends. Estimated to be 6.82% next year.
If you bought €2,000 of Shenzhen Investment shares you are expected to receive €129 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?
  • Shenzhen Investment's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Shenzhen Investment's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
Upcoming dividend payment

Purchase Shenzhen Investment before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:SHS 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 6 Analyst Estimates (S&P Global) See Below
Germany Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 25 Stocks 2.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
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 3.9%

Industry and Market average data is calculated daily.

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

DB:SHS Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.20 4.00
2020-12-31 0.20 5.00
2019-12-31 0.18 4.00
DB:SHS Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-24 0.180 6.011
2019-03-28 0.180 5.660
2018-04-20 0.180 6.691
2018-03-26 0.180 5.438
2017-03-27 0.170 4.899
2016-08-29 0.200 5.885
2016-04-27 0.160 4.993
2016-03-30 0.160 5.038
2015-08-27 0.160 5.225
2015-04-27 0.160 4.528
2015-03-26 0.160 4.769
2014-07-24 0.190 8.096
2013-10-16 0.180 6.670
2013-04-25 0.180 5.897
2013-03-26 0.180 5.719
2012-08-27 0.150 6.102
2012-03-27 0.160 8.994
2011-08-25 0.140 8.846
2011-03-30 0.140 6.079
2010-08-25 0.140 5.191
2010-04-08 0.120 4.987
2009-09-09 0.130 4.170

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 Shenzhen Investment's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess Shenzhen Investment'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 Shenzhen Investment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shenzhen Investment 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 Shenzhen Investment'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
Wei Huang
COMPENSATION HK$6,331,000
AGE 48
TENURE AS CEO 3.8 years
CEO Bio

Mr. Huang Wei has been the President and Executive Director of Shenzhen Investment Ltd. since July 21, 2015. Mr. Wei serves as General Manager, Deputy Party Secretary and Director of Shum Yip Group Limited. Prior to joining Shum Yip Group Limited, Mr. Wei served as the Deputy Secretary of the Party Working Committee, Deputy Director of the Management Committee and Director of Social Work Committee of CPC Shenzhen Dapeng New District. He was a Member of the Standing Committee, the director of district committee (government district) Office and a district government party member of Longgang District and the Longgang District Youth League secretary. Mr. Wei has extensive experience in management. Mr. Wei was an on-the-job graduate at Guangdong Academy of Social Sciences, where he graduated with a major in law. He holds a Master's Degree in Business Administration from Guanghua School of Management, Peking University.

CEO Compensation
  • Wei's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Wei's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Shenzhen Investment management team in years:

6.5
Average Tenure
52.5
Average Age
  • The average tenure for the Shenzhen Investment management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Hua Lu

TITLE
Chairman of the Board
COMPENSATION
HK$7M
AGE
54

Wei Huang

TITLE
Executive Director & President
COMPENSATION
HK$6M
AGE
48
TENURE
3.8 yrs

Yong Mou

TITLE
Executive Director
COMPENSATION
HK$3M
AGE
55
TENURE
9.4 yrs

Chong Liu

TITLE
Executive Director & VP
COMPENSATION
HK$4M
AGE
58
TENURE
9.1 yrs

Shaoye Fang

TITLE
General Manager of Finance Management Department
AGE
49
TENURE
1.3 yrs

Nicole Zhou

TITLE
Senior IR Manager

Edith Wong

TITLE
General Counsel & Secretary
AGE
51
TENURE
1.3 yrs

Kalvin Zhu

TITLE
General Manager of Capital Market Department
AGE
45

Carmelo Lee

TITLE
Company Secretary
AGE
58
TENURE
9.9 yrs
Board of Directors Tenure

Average tenure and age of the Shenzhen Investment board of directors in years:

8.4
Average Tenure
58
Average Age
  • The tenure for the Shenzhen Investment board of directors is about average.
Board of Directors

Hua Lu

TITLE
Chairman of the Board
COMPENSATION
HK$7M
AGE
54
TENURE
6.3 yrs

Wei Huang

TITLE
Executive Director & President
COMPENSATION
HK$6M
AGE
48
TENURE
3.8 yrs

Yong Mou

TITLE
Executive Director
COMPENSATION
HK$3M
AGE
55
TENURE
9.4 yrs

Chong Liu

TITLE
Executive Director & VP
COMPENSATION
HK$4M
AGE
58
TENURE
8.4 yrs

Wai Keung Li

TITLE
Independent Non-Executive Director
COMPENSATION
HK$380K
AGE
61
TENURE
14.7 yrs

David Wong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$380K
AGE
60
TENURE
5.9 yrs

Michael Wu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$330K
AGE
68
TENURE
16.6 yrs

Jiesi Wu

TITLE
Non-Executive Director
COMPENSATION
HK$330K
AGE
67
TENURE
13 yrs

Shichao Liu

TITLE
Non-Executive Director
COMPENSATION
HK$330K
AGE
46
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
22. Nov 18 Buy Shum Yip Group Limited Company 19. Nov 18 19. Nov 18 155,283,548 €0.26 €40,092,468
07. Nov 18 Buy Alpha-Omega Corporation Company 06. Nov 18 06. Nov 18 2,156,000 €0.27 €583,824
11. Sep 18 Buy Alpha-Omega Corporation Company 10. Sep 18 10. Sep 18 2,856,000 €0.26 €731,689
21. Aug 18 Buy Shum Yip Group Limited Company 17. Aug 18 17. Aug 18 172,089,945 €0.35 €60,971,658
21. Aug 18 Buy Hua Lu Individual 17. Aug 18 17. Aug 18 21,625 €0.35 €7,662
28. Jun 18 Buy Alpha-Omega Corporation Company 27. Jun 18 27. Jun 18 3,000,000 €0.31 €925,687
X
Management checks
We assess Shenzhen Investment'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. Shenzhen Investment 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

Shenzhen Investment Limited, together with its subsidiaries, invests in, develops, and manages real estate properties in Mainland China. The company operates through five segments: Property Development, Property Investment, Property Management, Manufacture, and Others. It invests in and develops residential, industrial, and commercial properties; manages properties; and manufacture and sells industrial and commercial products. The company also manufactures and sells aluminum alloy, agricultural, and LCD products; designs and constructs gardens; and operates hotels and warehouses. The company is based in Tsim Sha Tsui, Hong Kong. Shenzhen Investment Limited is a subsidiary of Shum Yip Holdings Company Limited.

Details
Name: Shenzhen Investment Limited
SHS
Exchange: DB
Founded:
HK$2,696,588,881
8,440,059,985
Website: http://www.shenzheninvestment.com
Address: Shenzhen Investment Limited
New East Ocean Centre,
8th Floor,
Tsim Sha Tsui,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 604 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 07. Mar 1997
OTCPK SZNT.F Ordinary Shares Pink Sheets LLC US USD 07. Mar 1997
DB SHS Ordinary Shares Deutsche Boerse AG DE EUR 07. Mar 1997
SHSC 604 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 07. Mar 1997
SZSC 604 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 07. Mar 1997
Number of employees
Current staff
Staff numbers
18,776
Shenzhen Investment employees.
Industry
Diversified Real Estate Activities
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 21:48
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/04/01
Last earnings filing: 2019/04/24
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.