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2333

Great Wall Motor SEHK:2333 Stock Report

Last Price

HK$11.80

Market Cap

HK$268.2b

7D

-7.1%

1Y

-65.4%

Updated

09 Aug, 2022

Data

Company Financials +
2333 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance0/6
Financial Health5/6
Dividends4/6

2333 Stock Overview

Great Wall Motor Company Limited researches and develops, manufactures, and sells automobiles, and automotive parts and components in China, Russia, South Africa, Australia, Saudi Arabia, Chile, and internationally.

Great Wall Motor Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Great Wall Motor
Historical stock prices
Current Share PriceHK$11.80
52 Week HighHK$37.80
52 Week LowHK$8.96
Beta1.11
1 Month Change-19.18%
3 Month Change22.28%
1 Year Change-65.45%
3 Year Change144.81%
5 Year Change16.37%
Change since IPO938.12%

Recent News & Updates

Jul 12
Great Wall Motor Company Limited's (HKG:2333) Intrinsic Value Is Potentially 60% Above Its Share Price

Great Wall Motor Company Limited's (HKG:2333) Intrinsic Value Is Potentially 60% Above Its Share Price

How far off is Great Wall Motor Company Limited ( HKG:2333 ) from its intrinsic value? Using the most recent financial...

Jun 29
What Is Great Wall Motor Company Limited's (HKG:2333) Share Price Doing?

What Is Great Wall Motor Company Limited's (HKG:2333) Share Price Doing?

Today we're going to take a look at the well-established Great Wall Motor Company Limited ( HKG:2333 ). The company's...

Jun 15
These 4 Measures Indicate That Great Wall Motor (HKG:2333) Is Using Debt Reasonably Well

These 4 Measures Indicate That Great Wall Motor (HKG:2333) Is Using Debt Reasonably Well

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Shareholder Returns

2333HK AutoHK Market
7D-7.1%-2.4%0.2%
1Y-65.4%-22.0%-21.9%

Return vs Industry: 2333 underperformed the Hong Kong Auto industry which returned -22% over the past year.

Return vs Market: 2333 underperformed the Hong Kong Market which returned -21.9% over the past year.

Price Volatility

Is 2333's price volatile compared to industry and market?
2333 volatility
2333 Average Weekly Movement10.5%
Auto Industry Average Movement6.3%
Market Average Movement6.6%
10% most volatile stocks in HK Market12.8%
10% least volatile stocks in HK Market3.2%

Stable Share Price: 2333 is more volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: 2333's weekly volatility (10%) has been stable over the past year, but is still higher than 75% of Hong Kong stocks.

About the Company

FoundedEmployeesCEOWebsite
198477,934Feng Muhttps://www.gwm.com.cn

Great Wall Motor Company Limited researches and develops, manufactures, and sells automobiles, and automotive parts and components in China, Russia, South Africa, Australia, Saudi Arabia, Chile, and internationally. The company offers pick-up trucks, SUVs, sedans, and energy vehicles primarily under the Haval, WEY, ORA, Tank, and Great Wall Pickup brand names; and unmanned vehicles. It also provides auto molds; new energy vehicle transmission and electric drive system; repairs automobiles; and transports general goods, as well as daily cargo transportation services.

Great Wall Motor Fundamentals Summary

How do Great Wall Motor's earnings and revenue compare to its market cap?
2333 fundamental statistics
Market CapCN¥230.63b
Earnings (TTM)CN¥6.72b
Revenue (TTM)CN¥138.91b

13.8x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2333 income statement (TTM)
RevenueCN¥138.91b
Cost of RevenueCN¥116.55b
Gross ProfitCN¥22.35b
Other ExpensesCN¥15.63b
EarningsCN¥6.72b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.73
Gross Margin16.09%
Net Profit Margin4.84%
Debt/Equity Ratio37.0%

How did 2333 perform over the long term?

See historical performance and comparison

Dividends

3.0%

Current Dividend Yield

51%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 2333 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2333?

Other financial metrics that can be useful for relative valuation.

2333 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.6x
Enterprise Value/EBITDA25x
PEG Ratio1.1x

Price to Earnings Ratio vs Peers

How does 2333's PE Ratio compare to its peers?

2333 PE Ratio vs Peers
The above table shows the PE ratio for 2333 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average11.9x
2238 Guangzhou Automobile Group
8.4x15.8%HK$153.3b
175 Geely Automobile Holdings
31.9x28.7%HK$175.2b
489 Dongfeng Motor Group
3.4x5.1%HK$44.9b
1958 BAIC Motor
3.8x15.7%HK$16.3b
2333 Great Wall Motor
13.8x19.6%HK$266.7b

Price-To-Earnings vs Peers: 2333 is expensive based on its Price-To-Earnings Ratio (13.8x) compared to the peer average (11.9x).


Price to Earnings Ratio vs Industry

How does 2333's PE Ratio compare vs other companies in the Asian Auto Industry?

Price-To-Earnings vs Industry: 2333 is expensive based on its Price-To-Earnings Ratio (13.8x) compared to the Hong Kong Auto industry average (11.4x)


Price to Earnings Ratio vs Fair Ratio

What is 2333's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2333 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.8x
Fair PE Ratio13.4x

Price-To-Earnings vs Fair Ratio: 2333 is good value based on its Price-To-Earnings Ratio (13.8x) compared to the estimated Fair Price-To-Earnings Ratio (14.5x).


Share Price vs Fair Value

What is the Fair Price of 2333 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2333 (HK$11.8) is trading below our estimate of fair value (HK$21.29)

Significantly Below Fair Value: 2333 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Great Wall Motor forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


13.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2333's forecast earnings growth (19.6% per year) is above the savings rate (1.6%).

Earnings vs Market: 2333's earnings (19.6% per year) are forecast to grow faster than the Hong Kong market (16.7% per year).

High Growth Earnings: 2333's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2333's revenue (17.5% per year) is forecast to grow faster than the Hong Kong market (10% per year).

High Growth Revenue: 2333's revenue (17.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2333's Return on Equity is forecast to be low in 3 years time (18.6%).


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Past Performance

How has Great Wall Motor performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-1.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 2333 has a large one-off gain of CN¥2.3B impacting its March 31 2022 financial results.

Growing Profit Margin: 2333's current net profit margins (4.8%) are lower than last year (6.3%).


Past Earnings Growth Analysis

Earnings Trend: 2333's earnings have declined by 1.4% per year over the past 5 years.

Accelerating Growth: 2333's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2333 had negative earnings growth (-12.2%) over the past year, making it difficult to compare to the Auto industry average (-1.1%).


Return on Equity

High ROE: 2333's Return on Equity (10.4%) is considered low.


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Financial Health

How is Great Wall Motor's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 2333's short term assets (CN¥105.6B) exceed its short term liabilities (CN¥89.3B).

Long Term Liabilities: 2333's short term assets (CN¥105.6B) exceed its long term liabilities (CN¥20.8B).


Debt to Equity History and Analysis

Debt Level: 2333 has more cash than its total debt.

Reducing Debt: 2333's debt to equity ratio has increased from 13.5% to 37% over the past 5 years.

Debt Coverage: 2333's debt is well covered by operating cash flow (98.5%).

Interest Coverage: 2333 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Great Wall Motor current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.99%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 2333's dividend (2.99%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.84%).

High Dividend: 2333's dividend (2.99%) is low compared to the top 25% of dividend payers in the Hong Kong market (8.38%).


Stability and Growth of Payments

Stable Dividend: 2333's dividend payments have been volatile in the past 10 years.

Growing Dividend: 2333's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (50.7%), 2333's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (31.6%), 2333's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

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

12.2yrs

Average management tenure


CEO

Feng Mu (47 yo)

0.083

Tenure

Mr. Feng Mu is General Manager of Great Wall Motor Company Limited from July 24, 2022. Mr. Mu is currently mainly responsible for the overall management of the Company. He joined the Company in 2007 and se...


Leadership Team

Experienced Management: 2333's management team is seasoned and experienced (12.2 years average tenure).


Board Members

Experienced Board: 2333's board of directors are not considered experienced ( 2.7 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Great Wall Motor Company Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Great Wall Motor Company Limited
  • Ticker: 2333
  • Exchange: SEHK
  • Founded: 1984
  • Industry: Automobile Manufacturers
  • Sector: Automobiles
  • Implied Market Cap: HK$268.159b
  • Shares outstanding: 9.16b
  • Website: https://www.gwm.com.cn

Number of Employees


Location

  • Great Wall Motor Company Limited
  • No. 2266 Chaoyang Road South
  • Baoding
  • Hebei Province
  • 71000
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/09 00:00
End of Day Share Price2022/08/09 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.