DB:TAJ

Stock Analysis Report

Ta Yang Group Holdings

Executive Summary

Ta Yang Group Holdings Limited, an investment holding company, designs, manufactures, and sells silicone rubber input devices for consumer electronic device manufacturers worldwide.

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Highly volatile share price over past 3 months

Does not have a meaningful market cap (€261M)



Snowflake Analysis

Adequate balance sheet and overvalued.

Share Price & News

How has Ta Yang Group Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TAJ's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

14.3%

TAJ

-2.7%

DE Electronic

0.2%

DE Market


1 Year Return

-52.9%

TAJ

8.7%

DE Electronic

14.4%

DE Market

Return vs Industry: TAJ underperformed the German Electronic industry which returned 10.9% over the past year.

Return vs Market: TAJ underperformed the German Market which returned 14.1% over the past year.


Shareholder returns

TAJIndustryMarket
7 Day14.3%-2.7%0.2%
30 Day23.1%7.1%0.9%
90 Day23.1%9.0%4.6%
1 Year-52.9%-52.9%11.1%8.7%17.9%14.4%
3 Year-74.7%-74.7%46.2%41.4%15.7%5.6%
5 Year-42.9%-42.9%113.7%98.4%23.4%6.5%

Price Volatility Vs. Market

How volatile is Ta Yang Group Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Ta Yang Group Holdings undervalued compared to its fair value and its price relative to the market?

0.68x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate TAJ's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate TAJ's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: TAJ is unprofitable, so we can't compare its PE Ratio to the Electronic industry average.

PE vs Market: TAJ is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TAJ's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TAJ is good value based on its PB Ratio (0.7x) compared to the DE Electronic industry average (1.8x).


Next Steps

Future Growth

How is Ta Yang Group Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

16.5%

Forecasted Tech industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ta Yang Group Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Ta Yang Group Holdings performed over the past 5 years?

48.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TAJ is currently unprofitable.

Growing Profit Margin: TAJ is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TAJ is unprofitable, but has reduced losses over the past 5 years at a rate of 48% per year.

Accelerating Growth: Unable to compare TAJ's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TAJ is unprofitable, making it difficult to compare its past year earnings growth to the Electronic industry (-3.9%).


Return on Equity

High ROE: TAJ has a negative Return on Equity (-14.8%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Ta Yang Group Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: TAJ's short term assets (HK$477.8M) exceed its short term liabilities (HK$444.2M).

Long Term Liabilities: TAJ's short term assets (HK$477.8M) exceed its long term liabilities (HK$13.7M).


Debt to Equity History and Analysis

Debt Level: TAJ's debt to equity ratio (70.6%) is considered high.

Reducing Debt: TAJ's debt to equity ratio has increased from 7.2% to 70.6% over the past 5 years.


Balance Sheet

Inventory Level: TAJ has a high level of physical assets or inventory.

Debt Coverage by Assets: TAJ's debt is covered by short term assets (assets are 1.7x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: TAJ has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: TAJ has sufficient cash runway for 1.3 years if free cash flow continues to reduce at historical rates of -12.3% each year.


Next Steps

Dividend

What is Ta Yang Group Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%1.3%markettop25%3.6%industryaverage1.2%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate TAJ's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TAJ's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TAJ's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TAJ's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: TAJ is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TAJ's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.6yrs

Average management tenure


CEO

Qi Shi (40yo)

3.8yrs

Tenure

HK$6,770,000

Compensation

Ms. Qi Shi has been the Chairlady and Chief Executive Officer of Ta Yang Group Holdings Limited since April 6, 2016. Ms. Shi has more than 9 years of experiences in corporate reorganization, corporate and  ...


CEO Compensation Analysis

Compensation vs Market: Qi's total compensation ($USD0.00) is below average for companies of similar size in the German market ($USD413.42K).

Compensation vs Earnings: Qi's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Qi Shi
Chairlady & CEO3.8yrsHK$6.77m50.11% HK$15.6m
Feng Gao
Executive Director3.8yrsno datano data
Ang Zhao
Executive Director1.6yrsHK$2.16mno data
Tao Liu
CFO & Board Secretary0.3yrsno datano data
Krassovski Victor
Chief Operating Officer0yrsno datano data
Hong Cheng
Executive Director1.1yrsno datano data
Chu Wing Lo
Company Secretary1.6yrsno datano data
Terence Wong
Financial Controller2.1yrsno datano data

1.6yrs

Average Tenure

39yo

Average Age

Experienced Management: TAJ's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Qi Shi
Chairlady & CEO3.8yrsHK$6.77m50.11% HK$15.6m
Feng Gao
Executive Director3.8yrsno datano data
Ang Zhao
Executive Director1.6yrsHK$2.16mno data
Hong Cheng
Executive Director1.1yrsno datano data
Lei Han
Non-Executive Director3.8yrsno datano data
Zhang Lijuan
Independent Non-Executive Director3.8yrsno datano data
Wai Lun Sze
Non-Executive Director2.2yrsno datano data
Bing Lin
Independent Non-Executive Director0.08yrsno datano data
Gang Liu
Independent Non-Executive Director0.08yrsno datano data

2.2yrs

Average Tenure

42yo

Average Age

Experienced Board: TAJ's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ta Yang Group Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ta Yang Group Holdings Limited
  • Ticker: TAJ
  • Exchange: DB
  • Founded: 1991
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: HK$261.353m
  • Listing Market Cap: HK$31.103m
  • Shares outstanding: 871.18m
  • Website: https://www.tayang.com

Number of Employees


Location

  • Ta Yang Group Holdings Limited
  • Building 2
  • Unit 5, 1st Floor
  • Chengdu
  • Sichuan Province
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1991SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJun 2007
TAJDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2007

Biography

Ta Yang Group Holdings Limited, an investment holding company, designs, manufactures, and sells silicone rubber input devices for consumer electronic device manufacturers worldwide. It operates in Silicone Rubber and Related Products, and Healthcare and Hotel Services segments. The company offers automotive peripherals, including remote keyless entry devices and garage door openers, as well as switches for audio, sunroof, steering, mirror, and GPS products; keypads for mobile phone, as well as printers, electrographs, wireless phones, electronic dictionaries, etc.; and membrane circuits and switches, PC keyboards, FPC products, etc. It also provides plastic injection products comprising plastic bezels, keypad frames, cell phone cases, etc.; silicone rubber raw material; industrial products, such as cool pads, insulating tubes, high pressure cap sleeves, etc.; and other products comprising sports article accessories, kitchen ware, and jelly protective coverings. In addition, the company trades in silicon rubber; and provides healthcare and hotel services, as well as management services. The company was founded in 1991 and is headquartered in Chengdu, China. Ta Yang Group Holdings Limited is a subsidiary of Lyton Maison Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/19 21:47
End of Day Share Price2020/02/19 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


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.