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China Display Optoelectronics Technology Holdings

DB:PJJ1
Snowflake Description

Exceptional growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PJJ1
DB
HK$2B
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

China Display Optoelectronics Technology Holdings Limited, an investment holding company, engages in the research, development, manufacture, distribution, and sale of liquid crystal display modules for mobile phones and tablets in Hong Kong, China, South Korea, and Taiwan. The last earnings update was 9 days ago. More info.


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  • China Display Optoelectronics Technology Holdings has significant price volatility in the past 3 months.
PJJ1 Share Price and Events
7 Day Returns
29.2%
DB:PJJ1
1.1%
DE Tech
1.8%
DE Market
1 Year Returns
108%
DB:PJJ1
0.6%
DE Tech
-6%
DE Market
PJJ1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Display Optoelectronics Technology Holdings (PJJ1) 29.2% 22.7% 222.9% 108% 77.8% -
DE Tech 1.1% 3.3% 13.1% 0.6% 67.6% 104.5%
DE Market 1.8% 4.6% 7.4% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • PJJ1 outperformed the Tech industry which returned 0.6% over the past year.
  • PJJ1 outperformed the Market in Germany which returned -6% over the past year.
Price Volatility
PJJ1
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for China Display Optoelectronics Technology Holdings's competitors could be found in our database.

PJJ1 Value

 Is China Display Optoelectronics Technology 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 China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings.

DB:PJJ1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.2%
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:PJJ1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Tech Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.045 (1 + (1- 25%) (25.53%))
1.164
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.16
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.164 * 5.96%)
7.17%

Discounted Cash Flow Calculation for DB:PJJ1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China Display Optoelectronics Technology 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:PJJ1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 7.17%)
2019 55.25 Analyst x2 51.56
2020 145.90 Analyst x2 127.04
2021 192.95 Analyst x2 156.78
2022 230.61 Est @ 19.52% 174.85
2023 262.28 Est @ 13.73% 185.56
2024 287.68 Est @ 9.68% 189.92
2025 307.37 Est @ 6.85% 189.35
2026 322.31 Est @ 4.86% 185.28
2027 333.49 Est @ 3.47% 178.89
2028 341.82 Est @ 2.5% 171.10
Present value of next 10 years cash flows CN¥1,610.32
DB:PJJ1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥341.82 × (1 + 0.23%) ÷ (7.17% – 0.23%)
CN¥4,938.26
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥4,938.26 ÷ (1 + 7.17%)10
CN¥2,471.81
DB:PJJ1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥1,610.32 + CN¥2,471.81
CN¥4,082.13
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥4,082.13 / 2,105.91
CN¥15.32
DB:PJJ1 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:334)
1.169
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥1.94 x 1.169
HK$2.27
Non-primary Listing Adjustment Factor 1 share in DB:PJJ1 represents 0.12649x of SEHK:334
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.12649x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 2.27 x 0.12649
€0.29
Value per share (EUR) From above. €0.29
Current discount Discount to share price of €0.12
= -1 x (€0.12 - €0.29) / €0.29
57.2%

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

Current Discount
Amount off the current price China Display Optoelectronics Technology Holdings is available for.
Intrinsic value
>50%
Share price is €0.1227 vs Future cash flow value of €0.28674
Current Discount Checks
For China Display Optoelectronics Technology Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Display Optoelectronics Technology Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Display Optoelectronics Technology Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PJJ1 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:334 Share Price ** SEHK (2019-04-18) in HKD HK$0.97
SEHK:334 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥0.83
Europe Tech Industry PE Ratio Median Figure of 22 Publicly-Listed Tech Companies 13.17x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.59x

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

** Primary Listing of China Display Optoelectronics Technology Holdings.

DB:PJJ1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:334 Share Price ÷ EPS (both in CNY)

= 0.83 ÷ 0.04

21x

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

  • China Display Optoelectronics Technology Holdings is overvalued based on earnings compared to the Europe Tech industry average.
  • China Display Optoelectronics Technology Holdings is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does China Display Optoelectronics Technology Holdings's expected growth come at a high price?
Raw Data
DB:PJJ1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
31.5%per year
Europe Tech Industry PEG Ratio Median Figure of 12 Publicly-Listed Tech Companies 0.87x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:PJJ1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21x ÷ 31.5%

0.67x

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

  • China Display Optoelectronics Technology Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on China Display Optoelectronics Technology Holdings's assets?
Raw Data
DB:PJJ1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥0.26
SEHK:334 Share Price * SEHK (2019-04-18) in HKD HK$0.97
SEHK:334 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥0.83
Europe Tech Industry PB Ratio Median Figure of 30 Publicly-Listed Tech Companies 1.3x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:PJJ1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:334 Share Price ÷ Book Value per Share (both in CNY)

= 0.83 ÷ 0.26

3.18x

* Primary Listing of China Display Optoelectronics Technology Holdings.

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

  • China Display Optoelectronics Technology Holdings is overvalued based on assets compared to the Europe Tech industry average.
X
Value checks
We assess China Display Optoelectronics Technology 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 Tech 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 Tech industry average (and greater than 0)? (1 check)
  5. China Display Optoelectronics Technology 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.

PJJ1 Future Performance

 How is China Display Optoelectronics Technology Holdings expected to perform in the next 1 to 3 years based on estimates from 5 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
31.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Display Optoelectronics Technology Holdings expected to grow at an attractive rate?
  • China Display Optoelectronics Technology Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • China Display Optoelectronics Technology Holdings's earnings growth is expected to exceed the Germany market average.
  • China Display Optoelectronics Technology Holdings's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PJJ1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PJJ1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 31.5%
DB:PJJ1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 20.1%
Europe Tech Industry Earnings Growth Rate Market Cap Weighted Average 14.7%
Europe Tech Industry Revenue Growth Rate Market Cap Weighted Average 8.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:PJJ1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PJJ1 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 10,030 368 243 4
2020-12-31 8,848 306 201 4
2019-12-31 7,269 194 151 4
DB:PJJ1 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 5,281 39 82
2018-09-30 4,256 166 59
2018-06-30 3,231 294 37
2018-03-31 3,348 153 76
2017-12-31 3,465 12 116
2017-09-30 3,595 0 135
2017-06-30 3,726 -12 154
2017-03-31 3,702 85 123
2016-12-31 3,678 182 91
2016-06-30 2,949 78 122
2016-03-31 2,704 128 70

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Display Optoelectronics Technology Holdings's earnings are expected to grow significantly at over 20% yearly.
  • China Display Optoelectronics Technology Holdings's revenue is expected to grow significantly at over 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:PJJ1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from China Display Optoelectronics Technology Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PJJ1 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.12 0.14 0.11 4.00
2020-12-31 0.10 0.10 0.09 4.00
2019-12-31 0.07 0.09 0.07 4.00
DB:PJJ1 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.04
2018-09-30 0.03
2018-06-30 0.02
2018-03-31 0.04
2017-12-31 0.06
2017-09-30 0.07
2017-06-30 0.08
2017-03-31 0.06
2016-12-31 0.05
2016-06-30 0.09
2016-03-31 0.07

*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.
  • China Display Optoelectronics Technology Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess China Display Optoelectronics Technology 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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
China Display Optoelectronics Technology Holdings has a total score of 6/6, 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.

PJJ1 Past Performance

  How has China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings's growth in the last year to its industry (Tech).
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.
  • China Display Optoelectronics Technology Holdings's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • China Display Optoelectronics Technology Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • China Display Optoelectronics Technology Holdings's 1-year earnings growth is negative, it can't be compared to the Europe Tech industry average.
Earnings and Revenue History
China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PJJ1 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 5,280.86 81.78 124.38
2018-09-30 4,255.95 59.22 138.76
2018-06-30 3,231.04 36.67 153.15
2018-03-31 3,347.80 76.20 155.24
2017-12-31 3,464.57 115.73 157.34
2017-09-30 3,595.21 135.00 136.74
2017-06-30 3,725.84 154.27 116.14
2017-03-31 3,702.00 122.69 113.16
2016-12-31 3,678.15 91.11 110.17
2016-06-30 2,949.41 121.60 102.52
2016-03-31 2,704.09 69.60 97.09
2015-12-31 2,458.78 17.61 91.66
2014-06-30 2,497.71 89.72 101.92

*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.
  • China Display Optoelectronics Technology Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Display Optoelectronics Technology Holdings used its assets less efficiently than the Europe Tech industry average last year based on Return on Assets.
  • China Display Optoelectronics Technology Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess China Display Optoelectronics Technology 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 Tech 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.
China Display Optoelectronics Technology Holdings 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.

PJJ1 Health

 How is China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Display Optoelectronics Technology Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Display Optoelectronics Technology Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China Display Optoelectronics Technology 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 covered by short term assets, assets are 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 China Display Optoelectronics Technology Holdings Company Filings, last reported 3 months ago.

DB:PJJ1 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 680.34 446.02 387.82
2018-09-30 680.34 446.02 387.82
2018-06-30 595.08 307.23 221.77
2018-03-31 595.08 307.23 221.77
2017-12-31 613.41 472.12 595.82
2017-09-30 613.41 472.12 595.82
2017-06-30 437.21 398.27 228.84
2017-03-31 437.21 398.27 228.84
2016-12-31 368.13 182.61 486.66
2016-06-30 255.70 239.83 277.44
2016-03-31 255.70 239.83 277.44
2015-12-31 104.94 195.83 374.88
2014-06-30 131.19 56.63 185.14
  • China Display Optoelectronics Technology Holdings's level of debt (65.6%) compared to net worth is high (greater than 40%).
  • Unable to establish if China Display Optoelectronics Technology Holdings's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (8.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10x coverage).
X
Financial health checks
We assess China Display Optoelectronics Technology 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. China Display Optoelectronics Technology Holdings has a total score of 3/6, 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.

PJJ1 Dividends

 What is China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings dividends. Estimated to be 0.94% next year.
If you bought €2,000 of China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate China Display Optoelectronics Technology 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:PJJ1 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 5 Analyst Estimates (S&P Global) See Below
Europe Tech Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 1.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 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.

DB:PJJ1 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.01 2.00
2020-12-31 0.01 2.00
2019-12-31 0.01 2.00
DB:PJJ1 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-12 0.000 0.000
2019-03-19 0.000 0.000
2018-03-26 0.016 3.308
2017-04-12 0.016 1.914

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

  • Unable to perform a dividend volatility check as China Display Optoelectronics Technology Holdings has not reported any payouts.
  • Unable to verify if China Display Optoelectronics Technology Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of China Display Optoelectronics Technology Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as China Display Optoelectronics Technology Holdings has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (12.2x coverage).
X
Income/ dividend checks
We assess China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Display Optoelectronics Technology Holdings has a total score of 1/6, see the detailed checks below.


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

PJJ1 Management

 What is the CEO of China Display Optoelectronics Technology 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
Hongping Ouyang
COMPENSATION CN¥3,896,000
AGE 41
TENURE AS CEO 0.1 years
CEO Bio

Mr. Hongping Ouyang served as the Chief Operating Officer at China Display Optoelectronics Technology Holdings Limited until March 7, 2019 and serves as its Chief Executive Officer since March 7, 2019. Mr. Ouyang has been an Executive Director of China Display Optoelectronics Technology Holdings Limited (also known as TCL Display Technology Holdings Limited) since June 2015. He served as Deputy General Manager of TCL Display since January 2009. Mr. Ouyang is responsible for supervising engineering related matters, including research and development, procurement, production planning and management. He joined TCL Group in 2004. From August 2004 to December 2008, he served as the Chief Engineer of TCL Display, responsible for supervising engineering related matters, including production planning and management. Mr. Ouyang graduated from University of Nanchang with a Bachelor's degree in Industrial Automation in July 1999.

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

Average tenure and age of the China Display Optoelectronics Technology Holdings management team in years:

1.4
Average Tenure
46
Average Age
  • The average tenure for the China Display Optoelectronics Technology Holdings management team is less than 2 years, this suggests a new team.
Management Team

Hongping Ouyang

TITLE
CEO & Executive Director
COMPENSATION
CN¥4M
AGE
41
TENURE
0.1 yrs

Xianzhen Wen

TITLE
Finance Director & Executive Director
AGE
46
TENURE
1.4 yrs

Clara Siu

TITLE
Vice Director of Finance and Investor Relations

Bo Peng

TITLE
Legal Manager

Yiwen Ding

TITLE
Vice General Manager
AGE
51

Jun Zhao

TITLE
Executive Director
AGE
46

Bo Cheung

TITLE
Company Secretary
AGE
29
TENURE
2 yrs
Board of Directors Tenure

Average tenure and age of the China Display Optoelectronics Technology Holdings board of directors in years:

3
Average Tenure
46
Average Age
  • The average tenure for the China Display Optoelectronics Technology Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Qian Liao

TITLE
Chairman
AGE
38
TENURE
2.3 yrs

Hongping Ouyang

TITLE
CEO & Executive Director
COMPENSATION
CN¥4M
AGE
41
TENURE
3.8 yrs

Xianzhen Wen

TITLE
Finance Director & Executive Director
AGE
46
TENURE
1.1 yrs

Jun Zhao

TITLE
Executive Director
AGE
46
TENURE
0.1 yrs

Helen Hsu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥195K
AGE
48

Yan Xu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥195K
AGE
54
TENURE
3.7 yrs

Yang Li

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥195K
AGE
49
TENURE
3.7 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 (€)
02. Nov 18 Sell Ko Yuen Lau Individual 01. Nov 18 01. Nov 18 -126,930,029 €0.10 €-12,083,482
01. Nov 18 Buy TCL Corporation Company 01. Nov 18 01. Nov 18 70,588,235 €0.10 €6,719,857
31. Oct 18 Buy TCL Corporation Company 31. Oct 18 31. Oct 18 5,496,000 €0.08 €429,221
26. Oct 18 Buy TCL Corporation Company 26. Oct 18 26. Oct 18 1,000,000 €0.07 €69,091
30. Oct 18 Buy TCL Corporation Company 30. Oct 18 30. Oct 18 2,000,000 €0.07 €147,144
29. Oct 18 Buy TCL Corporation Company 29. Oct 18 29. Oct 18 1,496,000 €0.07 €106,784
21. Jun 18 Buy TCL Corporation Company 21. Jun 18 21. Jun 18 296,000 €0.08 €22,818
22. Jun 18 Buy TCL Corporation Company 22. Jun 18 22. Jun 18 296,000 €0.08 €23,661
19. Jun 18 Buy TCL Corporation Company 19. Jun 18 19. Jun 18 296,000 €0.08 €22,801
15. Jun 18 Buy TCL Corporation Company 15. Jun 18 15. Jun 18 1,000,000 €0.08 €81,112
14. Jun 18 Buy TCL Corporation Company 14. Jun 18 14. Jun 18 296,000 €0.09 €25,577
13. Jun 18 Buy TCL Corporation Company 13. Jun 18 13. Jun 18 296,000 €0.09 €25,942
11. Jun 18 Buy TCL Corporation Company 08. Jun 18 08. Jun 18 296,000 €0.08 €23,913
11. Jun 18 Buy TCL Corporation Company 11. Jun 18 11. Jun 18 296,000 €0.09 €26,603
12. Jun 18 Buy TCL Corporation Company 12. Jun 18 12. Jun 18 296,000 €0.09 €26,240
X
Management checks
We assess China Display Optoelectronics Technology 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. China Display Optoelectronics Technology 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.

PJJ1 News

Simply Wall St News

PJJ1 Company Info

Description

China Display Optoelectronics Technology Holdings Limited, an investment holding company, engages in the research, development, manufacture, distribution, and sale of liquid crystal display modules for mobile phones and tablets in Hong Kong, China, South Korea, and Taiwan. It is also involved in the development and sale of software, and provision of technical consultancy services. The company was formerly known as TCL Display Technology Holdings Limited and changed its name to China Display Optoelectronics Technology Holdings Limited in January 2017. The company was founded in 2004 and is headquartered in HuiZhou, the People’s Republic of China. As of April 27, 2017, China Display Optoelectronics Technology Holdings Limited operates as a subsidiary of Shenzhen China Star Optoelectronics Technology Co., Ltd.

Details
Name: China Display Optoelectronics Technology Holdings Limited
PJJ1
Exchange: DB
Founded: 2004
HK$231,542,685
2,105,908,697
Website: http://www.tcldisplay.com
Address: China Display Optoelectronics Technology Holdings Limited
No.23, ZhongKai High-Tech District,
HuiZhou,
Guangdong Province, 516006,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 334 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 25. Jun 2015
DB PJJ1 Ordinary Shares Deutsche Boerse AG DE EUR 25. Jun 2015
Number of employees
Current staff
Staff numbers
4,032
China Display Optoelectronics Technology Holdings employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 20:48
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/03/21
Last earnings filing: 2019/04/12
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.