Loading...

GCL-Poly Energy Holdings

DB:3GY
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3GY
DB
HK$9B
Market Cap
  1. Home
  2. DE
  3. Semiconductors
Company description

GCL-Poly Energy Holdings Limited operates as a solar photovoltaic company in the People’s Republic of China and internationally. The last earnings update was 87 days ago. More info.


Add to Portfolio Compare Print
  • GCL-Poly Energy Holdings has significant price volatility in the past 3 months.
3GY Share Price and Events
7 Day Returns
-2.6%
DB:3GY
4.4%
DE Semiconductor
-0.7%
DE Market
1 Year Returns
-44.1%
DB:3GY
-24.8%
DE Semiconductor
-7.6%
DE Market
3GY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GCL-Poly Energy Holdings (3GY) -2.6% 4.1% -30.9% -44.1% -64.8% -85.6%
DE Semiconductor 4.4% 10% -19% -24.8% 22.9% 64.7%
DE Market -0.7% -0.8% -3.8% -7.6% 8.2% 11.1%
1 Year Return vs Industry and Market
  • 3GY underperformed the Semiconductor industry which returned -24.8% over the past year.
  • 3GY underperformed the Market in Germany which returned -7.6% over the past year.
Price Volatility
3GY
Industry
5yr Volatility vs Market

Value

 Is GCL-Poly Energy Holdings 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 GCL-Poly Energy Holdings 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 GCL-Poly Energy Holdings.

DB:3GY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.5%
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:3GY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Semiconductor Unlevered Beta Simply Wall St/ S&P Global 1.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.27 (1 + (1- 25%) (802.38%))
6.302
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 6.65%)
13.53%

Discounted Cash Flow Calculation for DB:3GY using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for GCL-Poly Energy 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:3GY DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 13.53%)
2020 3,370.71 Analyst x4 2,969.05
2021 5,374.15 Analyst x3 4,169.69
2022 7,102.67 Est @ 32.16% 4,854.14
2023 8,706.65 Est @ 22.58% 5,241.30
2024 10,088.96 Est @ 15.88% 5,349.73
2025 11,217.10 Est @ 11.18% 5,239.17
2026 12,102.77 Est @ 7.9% 4,979.25
2027 12,779.97 Est @ 5.6% 4,631.33
2028 13,289.28 Est @ 3.99% 4,242.04
2029 13,669.09 Est @ 2.86% 3,843.35
Present value of next 10 years cash flows CN¥45,519.05
DB:3GY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥13,669.09 × (1 + 0.23%) ÷ (13.53% – 0.23%)
CN¥103,009.45
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥103,009.45 ÷ (1 + 13.53%)10
CN¥28,963.24
DB:3GY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥45,519.05 + CN¥28,963.24
CN¥74,482.30
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥74,482.30 / 19,841.05
CN¥3.75
DB:3GY Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:3800)
1.135
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥3.75 x 1.135
HK$4.26
Non-primary Listing Adjustment Factor 1 share in DB:3GY represents 0.08636x of SEHK:3800
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.08636x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 4.26 x 0.08636
€0.37
Value per share (EUR) From above. €0.37
Current discount Discount to share price of €0.04
= -1 x (€0.04 - €0.37) / €0.37
89.7%

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

Current Discount
Amount off the current price GCL-Poly Energy Holdings is available for.
Intrinsic value
>50%
Share price is €0.038 vs Future cash flow value of €0.36798
Current Discount Checks
For GCL-Poly Energy Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • GCL-Poly Energy Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • GCL-Poly Energy Holdings'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 GCL-Poly Energy Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GCL-Poly Energy Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:3GY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥-0.04
SEHK:3800 Share Price ** SEHK (2019-07-22) in HKD HK$0.44
SEHK:3800 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥0.39
Germany Semiconductor Industry PE Ratio Median Figure of 10 Publicly-Listed Semiconductor Companies 23.1x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.75x

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

** Primary Listing of GCL-Poly Energy Holdings.

DB:3GY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3800 Share Price ÷ EPS (both in CNY)

= 0.39 ÷ -0.04

-10.16x

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

  • GCL-Poly Energy Holdings is loss making, we can't compare its value to the DE Semiconductor industry average.
  • GCL-Poly Energy Holdings is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does GCL-Poly Energy Holdings's expected growth come at a high price?
Raw Data
DB:3GY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -10.16x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
68.7%per year
Germany Semiconductor Industry PEG Ratio Median Figure of 8 Publicly-Listed Semiconductor Companies 1.33x
Germany Market PEG Ratio Median Figure of 270 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 GCL-Poly Energy Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on GCL-Poly Energy Holdings's assets?
Raw Data
DB:3GY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥1.19
SEHK:3800 Share Price * SEHK (2019-07-22) in HKD HK$0.44
SEHK:3800 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥0.39
Germany Semiconductor Industry PB Ratio Median Figure of 12 Publicly-Listed Semiconductor Companies 1.94x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.71x
DB:3GY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3800 Share Price ÷ Book Value per Share (both in CNY)

= 0.39 ÷ 1.19

0.32x

* Primary Listing of GCL-Poly Energy Holdings.

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

  • GCL-Poly Energy Holdings is good value based on assets compared to the DE Semiconductor industry average.
X
Value checks
We assess GCL-Poly Energy Holdings'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 Semiconductor 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 Semiconductor industry average (and greater than 0)? (1 check)
  5. GCL-Poly Energy Holdings has a total score of 3/6, 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 GCL-Poly Energy Holdings expected to perform in the next 1 to 3 years based on estimates from 16 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
68.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GCL-Poly Energy Holdings expected to grow at an attractive rate?
  • GCL-Poly Energy Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • GCL-Poly Energy Holdings's earnings growth is expected to exceed the Germany market average.
  • GCL-Poly Energy Holdings's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:3GY Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:3GY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 68.7%
DB:3GY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 2.4%
Germany Semiconductor Industry Earnings Growth Rate Market Cap Weighted Average 9%
Germany Semiconductor Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
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:3GY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:3GY Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 22,112 8,637 1,081 14
2020-12-31 21,622 7,646 904 16
2019-12-31 21,030 7,232 584 16
DB:3GY Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 20,565 6,424 -693
2018-09-30 21,997 210
2018-06-30 23,429 8,131 1,112
2018-03-31 23,612 8,543 1,519
2017-12-31 23,794 8,955 1,926
2017-06-30 21,005 8,593 1,920
2017-03-31 21,515 8,189 2,010
2016-12-31 22,025 7,785 2,099
2016-06-30 22,680 3,289 2,930
2016-03-31 21,582 3,254 2,534

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GCL-Poly Energy Holdings's earnings are expected to grow significantly at over 20% yearly.
  • GCL-Poly Energy Holdings's revenue is expected to grow by 2.4% 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:3GY 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 16 Analyst Estimates (S&P Global) See Below

All data from GCL-Poly Energy Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3GY Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.06 0.11 0.03 11.00
2020-12-31 0.05 0.10 0.01 13.00
2019-12-31 0.04 0.09 0.00 12.00
DB:3GY Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 -0.04
2018-09-30 0.01
2018-06-30 0.06
2018-03-31 0.08
2017-12-31 0.10
2017-06-30 0.10
2017-03-31 0.11
2016-12-31 0.11
2016-06-30 0.17
2016-03-31 0.16

*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.
  • GCL-Poly Energy Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess GCL-Poly Energy Holdings'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.
GCL-Poly Energy Holdings has a total score of 3/6, 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 GCL-Poly Energy Holdings 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 GCL-Poly Energy Holdings's growth in the last year to its industry (Semiconductor).
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.
  • GCL-Poly Energy Holdings does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare GCL-Poly Energy Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare GCL-Poly Energy Holdings's 1-year growth to the DE Semiconductor industry average as it is not currently profitable.
Earnings and Revenue History
GCL-Poly Energy Holdings'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 GCL-Poly Energy Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3GY 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 20,565.44 -693.40 2,132.84
2018-09-30 21,997.11 209.55 2,153.87
2018-06-30 23,428.78 1,112.50 2,158.31
2018-03-31 23,611.62 1,519.44 2,232.94
2017-12-31 23,794.46 1,926.37 2,307.58
2017-06-30 21,004.61 1,919.98 1,911.56
2017-03-31 21,514.57 2,009.64 1,915.61
2016-12-31 22,024.54 2,099.30 1,919.66
2016-06-30 22,680.43 2,929.54 1,707.66
2016-03-31 21,582.44 2,534.25 1,636.23
2015-12-31 20,484.45 2,138.97 1,564.80
2015-06-30 17,970.17 1,276.94 1,355.41
2015-03-31 19,748.47 1,344.77 1,430.45
2014-12-31 21,523.36 1,412.43 1,505.25
2014-09-30 27,144.81 1,228.62 1,870.12
2014-06-30 25,236.01 925.44 1,722.31
2014-03-31 22,834.02 196.01 1,592.59
2013-12-31 19,933.46 -518.65 1,427.07
2013-09-30 18,705.18 -1,881.30 1,445.50
2013-06-30 17,315.80 -3,248.94 1,453.09
2013-03-31 17,700.95 -3,049.92 1,533.34
2012-12-31 17,972.78 -2,827.25 1,604.50
2012-09-30 18,026.02 -1,265.31 1,612.12

*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.
  • It is difficult to establish if GCL-Poly Energy Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • GCL-Poly Energy Holdings used its assets less efficiently than the DE Semiconductor industry average last year based on Return on Assets.
  • It is difficult to establish if GCL-Poly Energy Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess GCL-Poly Energy Holdings'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 Semiconductor 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.
GCL-Poly Energy Holdings has a total score of 0/6, 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 GCL-Poly Energy Holdings'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 GCL-Poly Energy Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GCL-Poly Energy Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • GCL-Poly Energy Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of GCL-Poly Energy 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 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 not covered by short term assets, assets are 0.4x 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 GCL-Poly Energy Holdings Company Filings, last reported 6 months ago.

DB:3GY Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 26,832.51 60,486.81 4,470.13
2018-09-30 26,832.51 60,486.81 4,470.13
2018-06-30 27,680.47 60,197.14 8,095.10
2018-03-31 27,680.47 60,197.14 8,095.10
2017-12-31 27,307.58 56,559.59 11,113.78
2017-06-30 24,596.64 45,011.83 8,905.02
2017-03-31 24,596.64 45,011.83 8,905.02
2016-12-31 23,393.94 40,665.65 9,182.84
2016-06-30 22,825.57 38,176.83 8,387.98
2016-03-31 22,825.57 38,176.83 8,387.98
2015-12-31 17,559.48 41,133.50 10,313.15
2015-06-30 17,917.30 39,459.87 5,163.41
2015-03-31 17,912.86 39,450.10 5,162.13
2014-12-31 16,844.95 32,999.96 4,378.95
2014-09-30 16,887.68 33,067.05 4,387.86
2014-06-30 15,593.50 33,547.88 8,121.66
2014-03-31 15,575.75 33,509.70 8,112.42
2013-12-31 14,058.11 30,232.56 4,826.26
2013-09-30 14,211.79 30,563.05 4,879.02
2013-06-30 13,631.20 29,290.89 3,859.35
2013-03-31 13,782.38 29,615.74 3,902.15
2012-12-31 14,291.40 28,615.15 3,627.87
2012-09-30 14,409.21 28,851.04 3,657.77
  • GCL-Poly Energy Holdings's level of debt (230%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (226.6% vs 230% today).
  • Debt is not well covered by operating cash flow (10.4%, less than 20% of total debt).
  • GCL-Poly Energy Holdings is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess GCL-Poly Energy Holdings'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. GCL-Poly Energy Holdings has a total score of 0/6, 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 GCL-Poly Energy Holdings'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
0%
Current annual income from GCL-Poly Energy Holdings dividends. Estimated to be 0% next year.
If you bought €2,000 of GCL-Poly Energy Holdings shares you are expected to receive €0 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?
  • Unable to evaluate GCL-Poly Energy Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate GCL-Poly Energy Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:3GY 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 16 Analyst Estimates (S&P Global) See Below
Germany Semiconductor Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 2.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 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:3GY Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.00 6.00
2020-12-31 0.00 6.00
2019-12-31 0.00 6.00
DB:3GY Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2013-09-17 0.000 0.000
2013-08-29 0.000 0.000
2013-03-14 0.000 0.000
2012-03-15 0.044 3.502
2011-03-31 0.041 1.735
2010-09-15 0.000 0.000
2010-08-25 0.000 0.000
2010-04-15 0.000 0.000
2010-03-17 0.000 0.000

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

  • Unable to perform a dividend volatility check as GCL-Poly Energy Holdings has not reported any payouts.
  • Unable to verify if GCL-Poly Energy Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of GCL-Poly Energy Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as GCL-Poly Energy Holdings has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of GCL-Poly Energy Holdings's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess GCL-Poly Energy Holdings'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 GCL-Poly Energy Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GCL-Poly Energy Holdings has a total score of 0/6, 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 GCL-Poly Energy Holdings'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
Zhanjun Zhu
COMPENSATION CN¥6,342,000
AGE 49
TENURE AS CEO 3.3 years
CEO Bio

Mr. Zhanjun Zhu has been the Chief Executive Officer at GCL-Poly Energy Holdings Ltd. since April 1, 2016 and its Executive President since January 2015. Mr. Zhu served as an Executive President of Solar Business at GCL-Poly Energy Holdings Ltd. since January 23, 2015 until April 1st 2016. Mr. Zhu is responsible for the daily operation and management of the polysilicon and wafer business. He has been an Executive Director at GCL-Poly Energy Holdings Ltd. since January 23, 2015. Mr. Zhu joined GCL-Poly Energy Holdings i 2004 as the Plant Manager of power plants and served as General Manager since 2006. He served as Deputy Director for Infrastructure at Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd since 2008. Mr. Zhu served as the General Manager of Jiangsu GCL Silicon Material Technology Development Co., Ltd. since in 2009 and served as Vice President since 2013. He oversaw the Jiangsu GCL Silicon Material Technology Development's ingot business and Jiangsu GCL’s wafer business. Mr. Zhu serves as a Director of several subsidiaries of GCL-Poly Energy Holdings Ltd. Mr. Zhu is an Engineer. He holds a Master’s degree in Business Administration from China Europe International Business School in 2013.

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

Gongshan Zhu

TITLE
Founder & Chairman
COMPENSATION
CN¥8M
AGE
61

Zhanjun Zhu

TITLE
Executive Director
COMPENSATION
CN¥6M
AGE
49
TENURE
3.3 yrs

Charles Yeung

TITLE
Company Secretary
COMPENSATION
CN¥7M
AGE
51
TENURE
5.3 yrs

Wei Sun

TITLE
Executive Director
COMPENSATION
CN¥7M
AGE
47

Yufeng Zhu

TITLE
Executive Director
COMPENSATION
CN¥7M
AGE
38

Xiongjiu Zheng

TITLE
Executive Director
COMPENSATION
CN¥4M
AGE
50

Jiang Wenwu

TITLE
Executive Director
COMPENSATION
CN¥5M
AGE
56

Yuepeng Wan

TITLE
Chief Technology Officer
AGE
56

Tom Tong

TITLE
Vice President of Legal Affairs
AGE
72

Yee Tong

TITLE
Vice President of Corporate Development
COMPENSATION
CN¥10M
AGE
66
Board of Directors Tenure

Average tenure and age of the GCL-Poly Energy Holdings board of directors in years:

4.5
Average Tenure
50.5
Average Age
  • The tenure for the GCL-Poly Energy Holdings board of directors is about average.
Board of Directors

Gongshan Zhu

TITLE
Founder & Chairman
COMPENSATION
CN¥8M
AGE
61

Zhanjun Zhu

TITLE
Executive Director
COMPENSATION
CN¥6M
AGE
49
TENURE
4.5 yrs

Charles Yeung

TITLE
Company Secretary
COMPENSATION
CN¥7M
AGE
51
TENURE
4.8 yrs

Wei Sun

TITLE
Executive Director
COMPENSATION
CN¥7M
AGE
47
TENURE
2.8 yrs

Yufeng Zhu

TITLE
Executive Director
COMPENSATION
CN¥7M
AGE
38
TENURE
9.8 yrs

Xiongjiu Zheng

TITLE
Executive Director
COMPENSATION
CN¥4M
AGE
50
TENURE
3.3 yrs

Jiang Wenwu

TITLE
Executive Director
COMPENSATION
CN¥5M
AGE
56
TENURE
3.3 yrs

Raymond Ho

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥702K
AGE
80
TENURE
11.8 yrs

Man Yip

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥528K
AGE
48
TENURE
10.3 yrs

Wenzhong Shen

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥260K
AGE
51
TENURE
4 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 (€)
21. Jun 19 Sell UBS Asset Management Company 18. Jun 19 18. Jun 19 -1,511,000,000 €0.05 €-77,496,611
14. Jun 19 Buy UBS Asset Management Company 11. Jun 19 11. Jun 19 104,000,000 €0.05 €5,412,182
13. Jun 19 Buy UBS Asset Management Company 10. Jun 19 10. Jun 19 1,511,000,000 €0.05 €76,637,165
X
Management checks
We assess GCL-Poly Energy Holdings'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. GCL-Poly Energy Holdings 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

GCL-Poly Energy Holdings Limited operates as a solar photovoltaic company in the People’s Republic of China and internationally. It operates through three segments: Solar Material Business, Solar Farm Business, and New Energy Business. The Solar Material Business segment primarily manufactures and sells polysilicon raw materials and silicon wafers to companies operating in the solar industry. The Solar Farm Business segment operates and manages 371 megawatts (MW) of solar farms, of which 18 MW solar farms located in the United States and 353 MW solar farms located in the People’s Republic of China. The New Energy Business segment develops, constructs, operates, and manages solar farms. GCL-Poly Energy Holdings Limited was incorporated in 2006 and is based in Kowloon, Hong Kong.

Details
Name: GCL-Poly Energy Holdings Limited
3GY
Exchange: DB
Founded: 2006
HK$996,305,224
19,841,049,207
Website: http://www.gcl-poly.com.hk
Address: GCL-Poly Energy Holdings Limited
International Commerce Centre,
Level 17,
Kowloon,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3800 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 13. Nov 2007
OTCPK GCPE.F Ordinary Shares Pink Sheets LLC US USD 13. Nov 2007
DB 3GY Ordinary Shares Deutsche Boerse AG DE EUR 13. Nov 2007
SHSC 3800 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 13. Nov 2007
SZSC 3800 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 13. Nov 2007
Number of employees
Current staff
Staff numbers
0
GCL-Poly Energy Holdings employees.
Industry
Semiconductor Equipment
Semiconductors
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 21:13
End of day share price update: 2019/07/22 00:00
Last estimates confirmation: 2019/07/12
Last earnings filing: 2019/04/26
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.