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Great Wall Motor

SEHK:2333
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2333
SEHK
HK$74B
Market Cap
  1. Home
  2. HK
  3. Automobiles
Company description

Great Wall Motor Company Limited manufactures and sells automobiles, and automotive parts and components. The last earnings update was 84 days ago. More info.


Add to Portfolio Compare Print
  • Great Wall Motor has significant price volatility in the past 3 months.
2333 Share Price and Events
7 Day Returns
-1.1%
SEHK:2333
2.7%
HK Auto
0.6%
HK Market
1 Year Returns
2.2%
SEHK:2333
-9.7%
HK Auto
-4.5%
HK Market
2333 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Great Wall Motor (2333) -1.1% 0.2% -19.6% 2.2% -25.3% -47.7%
HK Auto 2.7% 1.9% -18.1% -9.7% 0.6% -9.3%
HK Market 0.6% 0.4% -7% -4.5% 17.8% 1.1%
1 Year Return vs Industry and Market
  • 2333 outperformed the Auto industry which returned -9.7% over the past year.
  • 2333 outperformed the Market in Hong Kong which returned -4.5% over the past year.
Price Volatility
2333
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Great Wall Motor 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 Great Wall Motor 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 Great Wall Motor.

SEHK:2333 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 31 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year HK Government Bond Rate 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 SEHK:2333
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Auto Unlevered Beta Simply Wall St/ S&P Global 0.62
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.624 (1 + (1- 25%) (31.15%))
0.845
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.845 * 5.96%)
7.04%

Discounted Cash Flow Calculation for SEHK:2333 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Great Wall Motor 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.

SEHK:2333 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 7.04%)
2020 2,670.75 Analyst x4 2,495.06
2021 3,277.83 Analyst x4 2,860.76
2022 2,049.52 Est @ -37.47% 1,671.07
2023 1,524.22 Est @ -25.63% 1,161.01
2024 1,259.91 Est @ -17.34% 896.56
2025 1,114.55 Est @ -11.54% 740.94
2026 1,031.24 Est @ -7.48% 640.46
2027 983.47 Est @ -4.63% 570.61
2028 957.50 Est @ -2.64% 519.00
2029 945.55 Est @ -1.25% 478.80
Present value of next 10 years cash flows CN¥12,034.28
SEHK:2333 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥945.55 × (1 + 2%) ÷ (7.04% – 2%)
CN¥19,141.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥19,141.98 ÷ (1 + 7.04%)10
CN¥9,693.07
SEHK:2333 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥12,034.28 + CN¥9,693.07
CN¥21,727.35
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥21,727.35 / 9,127.27
CN¥2.38
SEHK:2333 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2333)
1.135
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥2.38 x 1.135
HK$2.7
Value per share (HKD) From above. HK$2.70
Current discount Discount to share price of HK$5.59
= -1 x (HK$5.59 - HK$2.70) / HK$2.70
-107%

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

  • The current share price of Great Wall Motor is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Great Wall Motor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Great Wall Motor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2333 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CNY CN¥0.43
SEHK:2333 Share Price ** SEHK (2019-07-22) in HKD HK$5.59
SEHK:2333 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥4.93
Hong Kong Auto Industry PE Ratio Median Figure of 10 Publicly-Listed Auto Companies 8.96x
Hong Kong Market PE Ratio Median Figure of 1,512 Publicly-Listed Companies 10.77x

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

** Primary Listing of Great Wall Motor.

SEHK:2333 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2333 Share Price ÷ EPS (both in CNY)

= 4.93 ÷ 0.43

11.53x

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

  • Great Wall Motor is overvalued based on earnings compared to the HK Auto industry average.
  • Great Wall Motor is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Great Wall Motor's expected growth come at a high price?
Raw Data
SEHK:2333 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.53x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 31 Analysts
15.7%per year
Hong Kong Auto Industry PEG Ratio Median Figure of 7 Publicly-Listed Auto Companies 0.79x
Hong Kong Market PEG Ratio Median Figure of 481 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

SEHK:2333 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.53x ÷ 15.7%

0.74x

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

  • Great Wall Motor is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Great Wall Motor's assets?
Raw Data
SEHK:2333 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CNY CN¥5.85
SEHK:2333 Share Price * SEHK (2019-07-22) in HKD HK$5.59
SEHK:2333 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥4.93
Hong Kong Auto Industry PB Ratio Median Figure of 13 Publicly-Listed Auto Companies 0.86x
Hong Kong Market PB Ratio Median Figure of 2,198 Publicly-Listed Companies 0.92x
SEHK:2333 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2333 Share Price ÷ Book Value per Share (both in CNY)

= 4.93 ÷ 5.85

0.84x

* Primary Listing of Great Wall Motor.

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

  • Great Wall Motor is good value based on assets compared to the HK Auto industry average.
X
Value checks
We assess Great Wall Motor'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 Auto 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 Auto industry average (and greater than 0)? (1 check)
  5. Great Wall Motor has a total score of 2/6, 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 Great Wall Motor expected to perform in the next 1 to 3 years based on estimates from 31 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
15.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Great Wall Motor expected to grow at an attractive rate?
  • Great Wall Motor's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Great Wall Motor's earnings growth is expected to exceed the Hong Kong market average.
  • Great Wall Motor's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:2333 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2333 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 31 Analysts 15.7%
SEHK:2333 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 31 Analysts 6%
Hong Kong Auto Industry Earnings Growth Rate Market Cap Weighted Average 8.7%
Hong Kong Auto Industry Revenue Growth Rate Market Cap Weighted Average 5.9%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.6%

*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
SEHK:2333 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 31 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2333 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 114,685 10,227 5,678 24
2020-12-31 111,828 9,741 5,166 31
2019-12-31 99,557 8,075 3,967 7
SEHK:2333 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-03-31 95,284 18,940 3,900
2018-12-31 99,230 19,698 5,207
2018-09-30 104,386 8,898 6,074
2018-06-30 108,592 5,348 6,303
2018-03-31 104,424 3,335 5,154
2017-12-31 101,169 -1,059 5,027
2017-09-30 98,590 9,343 6,222
2017-06-30 98,199 12,799 8,045
2017-03-31 101,055 3,629 10,110
2016-12-31 98,616 8,835 10,551
2016-09-30 86,832 6,602 9,059
2016-06-30 80,561 7,132 8,268

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Great Wall Motor's earnings are expected to grow by 15.7% yearly, however this is not considered high growth (20% yearly).
  • Great Wall Motor's revenue is expected to grow by 6% 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
SEHK:2333 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 31 Analyst Estimates (S&P Global) See Below

All data from Great Wall Motor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2333 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.58 0.78 0.40 23.00
2020-12-31 0.55 0.75 0.36 29.00
2019-12-31 0.42 0.49 0.35 5.00
SEHK:2333 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-03-31 0.43
2018-12-31 0.57
2018-09-30 0.67
2018-06-30 0.69
2018-03-31 0.56
2017-12-31 0.55
2017-09-30 0.68
2017-06-30 0.88
2017-03-31 1.11
2016-12-31 1.16
2016-09-30 0.99
2016-06-30 0.91

*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.
  • Great Wall Motor is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Great Wall Motor'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 Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong 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.
Great Wall Motor has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

Past Performance

  How has Great Wall Motor 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 Great Wall Motor's growth in the last year to its industry (Auto).
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.
  • Great Wall Motor's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Great Wall Motor's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Great Wall Motor's 1-year earnings growth is negative, it can't be compared to the HK Auto industry average.
Earnings and Revenue History
Great Wall Motor'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 Great Wall Motor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2333 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 95,284.30 3,899.61 5,987.39 1,868.20
2018-12-31 99,229.99 5,207.31 6,034.52 1,743.38
2018-09-30 104,385.68 6,074.37 5,728.08 2,589.29
2018-06-30 108,592.27 6,303.34 5,908.74 2,968.47
2018-03-31 104,423.53 5,153.60 5,227.21 3,665.67
2017-12-31 101,169.49 5,027.30 5,782.27 3,364.57
2017-09-30 98,590.37 6,222.06 6,607.49 2,246.53
2017-06-30 98,199.18 8,045.31 6,872.56 1,539.78
2017-03-31 101,054.92 10,109.74 8,269.23
2016-12-31 98,615.70 10,551.16 7,779.83
2016-09-30 86,831.53 9,059.33 7,254.06
2016-06-30 80,560.55 8,267.88 7,015.62
2016-03-31 77,574.02 7,919.53 6,801.28
2015-12-31 76,033.14 8,059.33 6,618.81
2015-09-30 72,668.16 8,663.87 6,091.72
2015-06-30 71,216.51 8,804.27 6,024.67
2015-03-31 67,202.77 8,572.02 5,802.40
2014-12-31 62,599.10 8,041.54 5,652.43
2014-09-30 58,596.07 7,637.69 5,282.20
2014-06-30 58,894.85 8,090.63 5,002.18
2014-03-31 58,764.39 8,332.73 4,761.51
2013-12-31 56,784.31 8,223.65 4,426.89
2013-09-30 54,471.33 8,023.15 4,127.18
2013-06-30 51,289.23 7,426.27 3,777.66
2013-03-31 47,184.08 6,495.08 3,523.58
2012-12-31 43,159.97 5,692.45 3,251.15
2012-09-30 38,175.79 4,716.48 2,885.66

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Great Wall Motor is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Great Wall Motor's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Great Wall Motor'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 3.2x 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 Great Wall Motor Company Filings, last reported 3 months ago.

SEHK:2333 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 53,589.05 20,290.92 10,408.71
2018-12-31 52,688.59 14,957.77 12,059.73
2018-09-30 51,462.59 19,757.74 18,521.09
2018-06-30 51,292.93 18,880.73 18,256.49
2018-03-31 51,317.84 19,937.20 48,824.08
2017-12-31 49,257.96 13,511.33 6,047.68
2017-09-30 47,030.40 6,696.92 5,117.52
2017-06-30 46,583.15 6,319.40 13,328.83
2017-03-31 49,371.51 6,648.53 2,782.18
2016-12-31 47,353.64 299.80 5,560.70
2016-09-30 43,958.27 199.80 3,925.71
2016-06-30 41,658.83 349.90 5,050.33
2016-03-31 40,820.74 349.90 3,042.80
2015-12-31 38,386.92 350.00 5,266.80
2015-09-30 33,521.08 1,073.61 6,343.80
2015-06-30 35,792.47 743.26 4,319.63
2015-03-31 36,051.08 0.00 2,908.37
2014-12-31 33,518.45 0.00 3,394.47
2014-09-30 31,133.05 763.02 6,513.82
2014-06-30 29,525.29 764.26 7,291.70
2014-03-31 30,011.86 30.42 6,782.41
2013-12-31 28,008.00 182.20 6,994.79
2013-09-30 25,985.99 0.00 8,369.29
2013-06-30 23,898.91 0.00 7,380.42
2013-03-31 23,541.56 0.00 6,764.31
2012-12-31 21,643.37 0.00 6,348.63
2012-09-30 19,789.59 282.94 6,807.00
  • Great Wall Motor's level of debt (37.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.1% vs 37.9% today).
  • Debt is well covered by operating cash flow (93.3%, greater than 20% of total debt).
  • Great Wall Motor earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Great Wall Motor'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. Great Wall Motor has a total score of 5/6, 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 Great Wall Motor'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
5.89%
Current annual income from Great Wall Motor dividends. Estimated to be 4.48% next year.
If you bought HK$2,000 of Great Wall Motor shares you are expected to receive HK$118 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?
  • Great Wall Motor's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.07%).
  • Great Wall Motor's dividend is above the markets top 25% of dividend payers in Hong Kong (5.71%).
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
SEHK:2333 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 31 Analyst Estimates (S&P Global) See Below
Hong Kong Auto Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 3.3%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 978 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

SEHK:2333 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.23 19.00
2020-12-31 0.23 24.00
2019-12-31 0.21 23.00
SEHK:2333 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-05-17 0.290 5.798
2018-05-14 0.170 3.656
2017-05-11 0.350 4.541
2016-10-25 0.000 0.000
2016-08-26 0.000 0.000
2016-07-28 0.000 0.000
2016-05-24 0.380 6.860
2015-10-23 0.167 2.834
2015-09-07 0.167 2.411
2015-05-12 0.267 3.288
2014-05-09 0.273 2.787
2013-05-10 0.190 1.874
2012-03-16 0.100 1.822
2011-04-29 0.067 2.099
2010-04-16 0.033 1.468
2010-03-26 0.033 1.791
2009-04-28 0.011 1.169

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Great Wall Motor's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess Great Wall Motor's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Great Wall Motor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Great Wall Motor has a total score of 5/6, see the detailed checks below.


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

Management

 What is the CEO of Great Wall Motor'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
Feng Wang
COMPENSATION CN¥0
AGE 48
TENURE AS CEO 16.7 years
CEO Bio

Ms. Feng Ying Wang serves as Vice Chairman at Great Wall Motor Company Ltd. (formerly, Great Wall Automobile Holding Co. Ltd.) and has been its General Manager since November 2002. Ms. Wang is responsible for formulating operation and management strategies for Great Wall Motor. Ms. Wang has 13 years of experience in sales and marketing management. She joined the Great Wall Group in 1991 and serves as General Manager of both Great Wall Automobile Sales Network Company Limited and Great Wall Bus Sales Company. She has been an Executive Director of Great Wall Motor Company Ltd. since June 2001. She was accredited as the Fifth Anniversary Ten Outstanding Young Persons of Baoding in 1999 and was awarded the Fifth Anniversary Hebei Outstanding Young Entrepreneur and the Chinese Marketing Professional 'Golden Tripod' Outstanding Marketing General Manager Award in 2000. She received in 2004 the 8th of March Red Signal Soldier of Hebei Province and the Model Staff of Hebei Province titles. Ms. Wang graduated from Tianjin Institute of Finance in 1999 and obtained a Master's degree in Economics.

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

Average tenure and age of the Great Wall Motor management team in years:

11
Average Tenure
47
Average Age
  • The average tenure for the Great Wall Motor management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jian Wei

TITLE
Executive Chairman
AGE
55

Feng Wang

TITLE
Executive Vice Chairman & GM
AGE
48
TENURE
16.7 yrs

Zhi Yang

TITLE
Head of the Investment Management Department & Executive Director
AGE
52

Hui Xu

TITLE
Head of Securities & Legal Affairs Department and Company Secretary
AGE
40
TENURE
11 yrs

Shu Hu

TITLE
Deputy General Manager
AGE
47
TENURE
13.6 yrs

Guo Zhao

TITLE
Deputy General Manager
AGE
41
TENURE
9.1 yrs

Yu Liu

TITLE
Chief Financial Controller
AGE
41
TENURE
0.3 yrs

Lu Juan

TITLE
Head of the Accounting Department & Head of the Finance Section
Board of Directors Tenure

Average tenure and age of the Great Wall Motor board of directors in years:

5.2
Average Tenure
48
Average Age
  • The tenure for the Great Wall Motor board of directors is about average.
Board of Directors

Jian Wei

TITLE
Executive Chairman
AGE
55
TENURE
18.1 yrs

Feng Wang

TITLE
Executive Vice Chairman & GM
AGE
48

Zhi Yang

TITLE
Head of the Investment Management Department & Executive Director
AGE
52
TENURE
17.9 yrs

Li Ma

TITLE
Independent Non-Executive Director
AGE
51
TENURE
5.2 yrs

Biao Chen

TITLE
Chairman of Supervisory Committee
AGE
34
TENURE
3.6 yrs

Wan Jun Li

TITLE
Independent Non-Executive Director
AGE
55
TENURE
2.2 yrs

Ping He

TITLE
Non-Executive Director
AGE
42
TENURE
17.2 yrs

Chi Ng

TITLE
Independent Non-Executive Director
AGE
45
TENURE
2.2 yrs

Yi Zong

TITLE
Independent Supervisor
COMPENSATION
CN¥11K
AGE
48
TENURE
5.2 yrs

Liu Qian

TITLE
Independent Supervisor
AGE
37
TENURE
0.2 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 (HK$) Value (HK$)
30. May 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 27. May 19 27. May 19 -10,316,905 HK$5.42 HK$-55,870,204
28. May 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 23. May 19 23. May 19 10,016,792 HK$5.13 HK$51,387,169
22. May 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 17. May 19 17. May 19 -25,118,046 HK$5.81 HK$-145,955,955
09. May 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 06. May 19 06. May 19 13,671,449 HK$6.00 HK$82,036,944
09. May 19 Buy Highbridge Capital Management, LLC Company 06. May 19 06. May 19 3,903,500 HK$6.00 HK$23,423,355
08. May 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 03. May 19 03. May 19 -4,455,218 HK$6.24 HK$-27,807,697
08. May 19 Sell Highbridge Capital Management, LLC Company 03. May 19 03. May 19 -638,000 HK$6.24 HK$-3,982,142
08. May 19 Sell J.P. Morgan Asset Management, Inc. Company 03. May 19 03. May 19 -6,000 HK$6.24 HK$-37,450
07. May 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 02. May 19 02. May 19 3,822,115 HK$6.18 HK$23,632,506
02. May 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 26. Apr 19 26. Apr 19 -3,237,681 HK$6.49 HK$-21,025,828
02. May 19 Sell Highbridge Capital Management, LLC Company 26. Apr 19 26. Apr 19 -1,385,500 HK$6.49 HK$-8,997,577
02. May 19 Buy J.P. Morgan Asset Management, Inc. Company 26. Apr 19 26. Apr 19 170,500 HK$6.49 HK$1,107,244
30. Apr 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 25. Apr 19 25. Apr 19 12,761,130 HK$6.61 HK$84,389,304
26. Apr 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 23. Apr 19 23. Apr 19 -16,732,393 HK$6.96 HK$-116,522,751
17. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 12. Apr 19 12. Apr 19 -29,422,407 HK$6.59 HK$-193,843,756
17. Apr 19 Buy Highbridge Capital Management, LLC Company 12. Apr 19 12. Apr 19 540,500 HK$6.59 HK$3,560,978
16. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 11. Apr 19 11. Apr 19 23,913,919 HK$6.90 HK$164,991,637
16. Apr 19 Sell Highbridge Capital Management, LLC Company 11. Apr 19 11. Apr 19 -1,604,500 HK$6.90 HK$-11,070,084
16. Apr 19 Buy J.P. Morgan Asset Management, Inc. Company 11. Apr 19 11. Apr 19 54,000 HK$6.90 HK$372,567
15. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 10. Apr 19 10. Apr 19 42,082,174 HK$6.94 HK$291,902,943
26. Mar 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 21. Mar 19 21. Mar 19 -2,347,188 HK$5.60 HK$-13,145,665
24. Jan 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 21. Jan 19 21. Jan 19 5,938,500 HK$5.24 HK$31,116,555
15. Jan 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 10. Jan 19 10. Jan 19 3,823,000 HK$4.71 HK$18,006,321
24. Dec 18 Buy Baoding Great Wall Holdings Co., Ltd. Company 20. Dec 18 20. Dec 18 3,100,000 HK$4.45 HK$13,795,011
24. Dec 18 Buy Baoding Great Wall Holdings Co., Ltd. Company 21. Dec 18 21. Dec 18 1,944,000 HK$4.38 HK$8,514,714
25. Oct 18 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 22. Oct 18 22. Oct 18 4,719,941 HK$4.69 HK$22,132,745
17. Sep 18 Buy Baoding Great Wall Holdings Co., Ltd. Company 17. Sep 18 17. Sep 18 13,283,500 HK$4.49 HK$59,592,430
17. Sep 18 Buy Baoding Great Wall Holdings Co., Ltd. Company 14. Sep 18 14. Sep 18 3,316,000 HK$4.49 HK$14,884,199
17. Sep 18 Buy Baoding Great Wall Holdings Co., Ltd. Company 13. Sep 18 13. Sep 18 8,375,000 HK$4.31 HK$36,057,723
X
Management checks
We assess Great Wall Motor'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. Great Wall Motor 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

Taking A Look At Great Wall Motor Company Limited's (HKG:2333) ROE

We'll use ROE to examine Great Wall Motor Company Limited (HKG:2333), by way of a worked example. … Our data shows Great Wall Motor has a return on equity of 10.0% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Should We Expect From Great Wall Motor Company Limited's (HKG:2333) Earnings In The Years Ahead?

Great Wall Motor Company Limited's (HKG:2333) latest earnings announcement in December 2018a

Simply Wall St -

Is Great Wall Motor Company Limited's (HKG:2333) Liquidity Good Enough?

Investors looking for stocks with high market liquidity and little debt on the balance sheet should consider Great Wall Motor Company Limited (HKG:2333). … With a market valuation of HK$87b, 2333 is a safe haven in times of market uncertainty due to its strong balance sheet. … These companies are resilient in times of low liquidity and are not as strongly impacted by interest rate hikes as companies with lots of debt.

Simply Wall St -

Imagine Owning Great Wall Motor (HKG:2333) While The Price Tanked 56%

While it may not be enough for some shareholders, we think it is good to see the Great Wall Motor Company Limited (HKG:2333) share price up 26% in a single quarter. … In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … Looking back five years, both Great Wall Motor's share price and EPS declined; the latter at a rate of 8.7% per year.

Simply Wall St -

Does Great Wall Motor Company Limited's (HKG:2333) Recent Track Record Look Strong?

Measuring Great Wall Motor Company Limited's (HKG:2333) track record of past performance is a useful exercise for investors. … Today I will assess 2333's recent performance announced on 31 December 2018 and weigh these figures against its long-term trend and industry movements. … How Did 2333's Recent Performance Stack Up Against Its Past.

Simply Wall St -

Should You Investigate Great Wall Motor Company Limited (HKG:2333) At HK$5.58?

Great Wall Motor Company Limited (HKG:2333), which is in the auto business, and is based in China,. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s examine Great Wall Motor’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Great Wall Motor Company Limited (HKG:2333): Cash Is King

If you are currently a shareholder in Great Wall Motor Company Limited (HKG:2333), or considering investing in the stock, you need to examine how the business generates cash, and how it is reinvested. … Today we will examine Great Wall Motor’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … Great Wall Motor’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure.

Simply Wall St -

Does Great Wall Motor Company Limited's (HKG:2333) CEO Pay Matter?

Feng Wang has been the CEO of Great Wall Motor Company Limited (HKG:2333) since 2002. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Feng Wang's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Great Wall Motor Company Limited (HKG:2333)

We'll look at Great Wall Motor Company Limited's (HKG:2333) P/E ratio and reflect on what it tells us about the company's share price. … How Do I Calculate Great Wall Motor's Price To Earnings Ratio … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS)

Simply Wall St -

Why Great Wall Motor Company Limited’s (HKG:2333) Return On Capital Employed Is Impressive

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … How Do You Calculate Return On Capital Employed

Simply Wall St -

Company Info

Description

Great Wall Motor Company Limited manufactures and sells automobiles, and automotive parts and components. The company offers pick-up trucks, SUVs, sedans, and energy vehicles primarily under the Haval, WEY, Great Wall Pickup, and ORA brand names; Great Wall, Havel, and WEY brand names, as well as special vehicles, etc. It also researches, develops, and manufactures auto molds; repairs automobiles; and transports general goods, as well as provides truck transportation services. In addition, the company provides investment and financing, logistics, buildings rental, business information consultation, car rental, automotive finance, insurance brokerage, scrap car recycling and dismantling, finance lease, real estate, and after-sales services, as well as automotive technology research, development, and technical consultation services. Further, it processes, recycles, and sells waste and used materials. Great Wall Motor Company Limited also exports its products. Great Wall Motor Company Limited operates in China, South Africa, Ecuador, Chile, Russia, Iran, and internationally. The company was formerly known as Baoding Great Wall Motor Company Limited and changed its name to Great Wall Motor Company Limited in May 2003. The company was founded in 1984 and is headquartered in Baoding, China. Great Wall Motor Company Limited is a subsidiary of Baoding Innovation Great Wall Asset Management Company Limited.

Details
Name: Great Wall Motor Company Limited
2333
Exchange: SEHK
Founded: 1984
HK$74,336,098,621
9,127,269,000
Website: http://www.gwm.com.cn
Address: Great Wall Motor Company Limited
2266 Chaoyang South Street,
Baoding,
Hebei Province, 071000,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2333 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 15. Dec 2003
OTCPK GWLL.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 15. Dec 2003
DB GRV Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 15. Dec 2003
SHSC 2333 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 15. Dec 2003
SZSC 2333 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 15. Dec 2003
WBAG GRV Foreign Shares-Foreign Listed Wiener Boerse AG AT EUR 15. Dec 2003
OTCPK GWLL.Y ADR Pink Sheets LLC US USD 12. Dec 2011
SHSE 601633 Domestic Shares Shanghai Stock Exchange CN CNY 10. Oct 2011
XSSC 601633 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 10. Oct 2011
Number of employees
Current staff
Staff numbers
63,455
Great Wall Motor employees.
Industry
Automobile Manufacturers
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 12:43
End of day share price update: 2019/07/22 00:00
Last estimates confirmation: 2019/07/22
Last earnings filing: 2019/04/29
Last earnings reported: 2019/03/31
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.