DB:QHD

Stock Analysis Report

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Executive Summary

Qinhuangdao Port Co., Ltd. operates ports in Mainland China.


Snowflake Analysis

Undervalued with adequate balance sheet.

Share Price & News

How has Qinhuangdao Port's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: QHD has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.8%

QHD

11.3%

DE Infrastructure

2.7%

DE Market


1 Year Return

-17.5%

QHD

-44.2%

DE Infrastructure

10.3%

DE Market

Return vs Industry: QHD exceeded the German Infrastructure industry which returned -46.7% over the past year.

Return vs Market: QHD underperformed the German Market which returned 8.8% over the past year.


Shareholder returns

QHDIndustryMarket
7 Day0.8%11.3%2.7%
30 Day-9.2%2.2%1.9%
90 Day-10.4%8.0%17.0%
1 Year-10.0%-17.5%-44.0%-44.2%12.8%10.3%
3 Year-42.0%-53.1%-23.6%-29.3%7.1%-1.4%
5 Year-62.3%-71.6%3.2%-10.5%18.2%2.3%

Price Volatility Vs. Market

How volatile is Qinhuangdao Port's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Qinhuangdao Port undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: QHD (€0.13) is trading below our estimate of fair value (€0.32)

Significantly Below Fair Value: QHD is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: QHD is good value based on its PE Ratio (5.7x) compared to the XE Infrastructure industry average (13.9x).

PE vs Market: QHD is good value based on its PE Ratio (5.7x) compared to the German market (21.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: QHD is good value based on its PB Ratio (0.4x) compared to the DE Infrastructure industry average (0.8x).


Next Steps

Future Growth

How is Qinhuangdao Port forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

51.4%

Forecasted Transportation 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 Qinhuangdao Port 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 Qinhuangdao Port performed over the past 5 years?

-14.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: QHD has a large one-off loss of CN¥575.7M impacting its March 31 2020 financial results.

Growing Profit Margin: QHD's current net profit margins (16.5%) are higher than last year (8.6%).


Past Earnings Growth Analysis

Earnings Trend: QHD's earnings have declined by 14% per year over the past 5 years.

Accelerating Growth: QHD's earnings growth over the past year (83.5%) exceeds its 5-year average (-14% per year).

Earnings vs Industry: QHD earnings growth over the past year (83.5%) exceeded the Infrastructure industry -28.8%.


Return on Equity

High ROE: QHD's Return on Equity (5.9%) is considered low.


Next Steps

Financial Health

How is Qinhuangdao Port's financial position?


Financial Position Analysis

Short Term Liabilities: QHD's short term assets (CN¥3.9B) exceed its short term liabilities (CN¥3.0B).

Long Term Liabilities: QHD's short term assets (CN¥3.9B) do not cover its long term liabilities (CN¥6.9B).


Debt to Equity History and Analysis

Debt Level: QHD's debt to equity ratio (42.7%) is considered high.

Reducing Debt: QHD's debt to equity ratio has reduced from 88.9% to 42.7% over the past 5 years.

Debt Coverage: QHD's debt is well covered by operating cash flow (35.7%).

Interest Coverage: QHD's interest payments on its debt are well covered by EBIT (17.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Qinhuangdao Port current dividend yield, its reliability and sustainability?

7.97%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: QHD's dividend (7.97%) is higher than the bottom 25% of dividend payers in the German market (1.24%).

High Dividend: QHD's dividend (7.97%) is in the top 25% of dividend payers in the German market (3.77%)


Stability and Growth of Payments

Stable Dividend: QHD has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: QHD has only been paying a dividend for 6 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (45.4%), QHD's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

3.5yrs

Average management tenure


CEO

Wensheng Yang (51 yo)

3.42yrs

Tenure

CN¥902,662

Compensation

Mr. Wensheng Yang has been President of Qinhuangdao Port Co., Ltd since December 2017 and serves as its Executive Director. Mr. Wensheng was General Manager of Qinhuangdao Port Co., Ltd since 15 March 2017 ...


CEO Compensation Analysis

Compensation vs Market: Wensheng's total compensation ($USD129.97K) is below average for companies of similar size in the German market ($USD1.48M).

Compensation vs Earnings: Wensheng's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Ziyu Cao
Chairman of the Board3.83yrsno datano data
Wensheng Yang
President & Executive Director3.42yrsCN¥902.66kno data
Xikun Guo
VP & CFO12.42yrsCN¥785.33kno data
Zhenya He
Vice President10.67yrsCN¥803.83kno data
Yuzhong Nie
Vice President2.42yrsCN¥784.17kno data
Lixin Chen
Vice President1.42yrsCN¥691.60kno data
Xiping Ma
Secretary to the Board & Executive Director7.08yrsCN¥787.64kno data
Hui Xie
Head of Accounting Departmentno datano datano data
Nan Zhang
Director of Securities Department & Company Secretary3.67yrsno datano data

3.5yrs

Average Tenure

51.5yo

Average Age

Experienced Management: QHD's management team is considered experienced (3.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ziyu Cao
Chairman of the Board3.83yrsno datano data
Wensheng Yang
President & Executive Director3.42yrsCN¥902.66kno data
Xiping Ma
Secretary to the Board & Executive Director7.08yrsCN¥787.64kno data
Zuhe Xiao
Independent Non-Executive Director2.17yrsCN¥100.00kno data
Dong Cao
Employee Representative Supervisor10yrsCN¥560.31kno data
Jian Li
Non-Executive Director6.17yrsno datano data
Shu Hou
Independent Non-Executive Director5.17yrsCN¥100.00kno data
Xiu Zang
Independent Non-Executive Director5.17yrsCN¥100.00kno data
Xiang Xiao
Non-Executive Director2.17yrsno datano data
Ruihua Chen
Independent Non-Executive Director2.17yrsCN¥100.00kno data
Guanghai Liu
Vice Chairman1.67yrsno datano data
Bo Meng
Chairman of Supervisory Committee2.17yrsno datano data

3.8yrs

Average Tenure

53yo

Average Age

Experienced Board: QHD's board of directors are considered experienced (3.8 years average tenure).


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

Qinhuangdao Port Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Qinhuangdao Port Co., Ltd.
  • Ticker: QHD
  • Exchange: DB
  • Founded: 1898
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Market Cap: HK$15.964b
  • Listing Market Cap: HK$1.750b
  • Shares outstanding: 5.59b
  • Website: https://www.portqhd.com

Number of Employees


Location

  • Qinhuangdao Port Co., Ltd.
  • 35 Haibin Road
  • Qinhuangdao
  • Hebei Province
  • 66002
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3369SEHK (The Stock Exchange of Hong Kong Ltd.)YesForeign Shares-Foreign ListedHKHKDDec 2013
QHDDB (Deutsche Boerse AG)YesForeign Shares-Foreign ListedDEEURDec 2013
3369SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDDec 2013
3369SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDDec 2013
601326SHSE (Shanghai Stock Exchange)A SharesCNCNYAug 2017
601326XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect)A SharesCNCNYAug 2017

Biography

Qinhuangdao Port Co., Ltd. operates ports in Mainland China. The company offers integrated port services, including stevedoring, stacking, warehousing, transportation, and logistics; and handles various ty ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/11 21:58
End of Day Share Price2020/08/11 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.