SEHK:3606

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Fuyao Glass Industry Group

Executive Summary

Fuyao Glass Industry Group Co., Ltd., together with its subsidiaries, provides solutions of safety glass for various transportation vehicles in China and internationally.


Snowflake Analysis

Adequate balance sheet average dividend payer.


Similar Companies

Share Price & News

How has Fuyao Glass Industry Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 3606 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

5.0%

3606

5.3%

HK Auto Components

1.4%

HK Market


1 Year Return

-21.1%

3606

-12.7%

HK Auto Components

-6.6%

HK Market

Return vs Industry: 3606 underperformed the Hong Kong Auto Components industry which returned -14.7% over the past year.

Return vs Market: 3606 underperformed the Hong Kong Market which returned -9.4% over the past year.


Shareholder returns

3606IndustryMarket
7 Day5.0%5.3%1.4%
30 Day7.3%12.0%4.6%
90 Day23.3%29.2%11.3%
1 Year-21.1%-21.1%-10.1%-12.7%-3.7%-6.6%
3 Year-23.6%-30.2%-28.7%-34.2%4.7%-5.7%
5 Year27.8%7.9%-1.9%-11.6%8.4%-8.8%

Price Volatility Vs. Market

How volatile is Fuyao Glass Industry Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Fuyao Glass Industry Group undervalued compared to its fair value and its price relative to the market?

19.63x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 3606 (HK$19.06) is trading above our estimate of fair value (HK$15.29)

Significantly Below Fair Value: 3606 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 3606 is poor value based on its PE Ratio (19.1x) compared to the Auto Components industry average (10.8x).

PE vs Market: 3606 is poor value based on its PE Ratio (19.1x) compared to the Hong Kong market (10x).


Price to Earnings Growth Ratio

PEG Ratio: 3606 is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: 3606 is overvalued based on its PB Ratio (2.4x) compared to the HK Auto Components industry average (1x).


Next Steps

Future Growth

How is Fuyao Glass Industry Group forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

20.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3606's forecast earnings growth (19.2% per year) is above the savings rate (1.6%).

Earnings vs Market: 3606's earnings (19.2% per year) are forecast to grow faster than the Hong Kong market (17.5% per year).

High Growth Earnings: 3606's earnings are forecast to grow, but not significantly.

Revenue vs Market: 3606's revenue (10.7% per year) is forecast to grow slower than the Hong Kong market (11% per year).

High Growth Revenue: 3606's revenue (10.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 3606's Return on Equity is forecast to be low in 3 years time (14.7%).


Next Steps

Past Performance

How has Fuyao Glass Industry Group performed over the past 5 years?

7.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 3606 has high quality earnings.

Growing Profit Margin: 3606's current net profit margins (13.5%) are lower than last year (20.4%).


Past Earnings Growth Analysis

Earnings Trend: 3606's earnings have grown by 7.4% per year over the past 5 years.

Accelerating Growth: 3606's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 3606 had negative earnings growth (-33.8%) over the past year, making it difficult to compare to the Auto Components industry average (-25.6%).


Return on Equity

High ROE: 3606's Return on Equity (12.6%) is considered low.


Next Steps

Financial Health

How is Fuyao Glass Industry Group's financial position?


Financial Position Analysis

Short Term Liabilities: 3606's short term assets (CN¥20.8B) exceed its short term liabilities (CN¥16.5B).

Long Term Liabilities: 3606's short term assets (CN¥20.8B) exceed its long term liabilities (CN¥3.4B).


Debt to Equity History and Analysis

Debt Level: 3606's debt to equity ratio (51.2%) is considered high.

Reducing Debt: 3606's debt to equity ratio has increased from 39.3% to 51.2% over the past 5 years.

Debt Coverage: 3606's debt is well covered by operating cash flow (46.9%).

Interest Coverage: 3606's interest payments on its debt are well covered by EBIT (413.8x coverage).


Balance Sheet


Next Steps

Dividend

What is Fuyao Glass Industry Group current dividend yield, its reliability and sustainability?

3.48%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 3606's dividend (3.58%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.42%).

High Dividend: 3606's dividend (3.58%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.05%).


Stability and Growth of Payments

Stable Dividend: 3606's dividend payments have been volatile in the past 10 years.

Growing Dividend: 3606's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (68.3%), 3606's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 3606's dividends in 3 years are forecast to be covered by earnings (57.2% payout ratio).


Next Steps

Management

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

4.9yrs

Average management tenure


CEO

Shu Ye (48yo)

3.33yrs

Tenure

CN¥2,868,000

Compensation

Mr. Shu Ye has been President of Fuyao Glass Industry Group Co., Ltd. since March 25, 2017 and serves as its Executive Director since October 30, 2019. He is General Manager of Fuyao Glass Industry Group C ...


CEO Compensation Analysis

Compensation vs Market: Shu's total compensation ($USD405.58K) is below average for companies of similar size in the Hong Kong market ($USD611.14K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Tak Wong Cho
Executive Chairman20.92yrsCN¥1.79mno data
Shu Ye
GM, President & Executive Director3.33yrsCN¥2.87mno data
Xiangming Chen
CFO, Joint Company Secretary & Executive Director17.42yrsCN¥2.41mno data
Juli Chen
Vice President18.5yrsCN¥4.63mno data
Xiaoxi Li
Secretary to the Board of Directors4.33yrsCN¥842.70k0.015% CN¥8.3m
Yongnian Qiu
Head of the Accounting Departmentno datano datano data
Mei Ha Kam
Joint Company Secretary5.75yrsno datano data

4.9yrs

Average Tenure

50.5yo

Average Age

Experienced Management: 3606's management team is considered experienced (4.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Tak Wong Cho
Executive Chairman20.92yrsCN¥1.79mno data
Shu Ye
GM, President & Executive Director3.33yrsCN¥2.87mno data
Xiangming Chen
CFO, Joint Company Secretary & Executive Director17.42yrsCN¥2.41mno data
Zhaohua Bai
Chairman of the Board of Supervisors4.92yrsCN¥716.00kno data
Shinong Wu
Non-Executive Director20.25yrsCN¥90.00kno data
Dezhen Zhu
Non-Executive Director8.67yrsCN¥90.00kno data
Fai Tso
Vice Chairman4.92yrsCN¥921.00kno data
Kit Man Cheung
Independent Non-Executive Director2.5yrsCN¥264.00kno data
Jing Liu
Independent Non-Executive Director0.75yrCN¥25.00kno data
Wenzhou Qu
Independent Non-Executive Director0.75yrCN¥25.00kno data

4.9yrs

Average Tenure

60yo

Average Age

Experienced Board: 3606's board of directors are considered experienced (4.9 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Fuyao Glass Industry Group Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fuyao Glass Industry Group Co., Ltd.
  • Ticker: 3606
  • Exchange: SEHK
  • Founded: 1987
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: CN¥51.970b
  • Listing Market Cap: CN¥57.007b
  • Shares outstanding: 2.51b
  • Website: https://www.fuyaogroup.com

Number of Employees


Location

  • Fuyao Glass Industry Group Co., Ltd.
  • Fuyao Industrial Zone II
  • Fuqing
  • Fujian Province
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
600660SHSE (Shanghai Stock Exchange)YesDomestic SharesCNCNYJun 1996
600660XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect)YesDomestic SharesCNCNYJun 1996
3606SEHK (The Stock Exchange of Hong Kong Ltd.)Foreign Shares-Foreign ListedHKHKDMar 2015
4FGDB (Deutsche Boerse AG)Foreign Shares-Foreign ListedDEEURMar 2015
3606SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)Foreign Shares-Foreign ListedHKHKDMar 2015
3606SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)Foreign Shares-Foreign ListedHKHKDMar 2015
FYGG.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDApr 2017

Biography

Fuyao Glass Industry Group Co., Ltd., together with its subsidiaries, provides solutions of safety glass for various transportation vehicles in China and internationally. It designs, manufactures, sells, and services automotive grade float glass, automotive glass, and locomotive glass, as well as offers relevant services. The company provides thermal insulation, sound insulation, head-up display, semi-tempered laminated, acostic, heating, dimmable, hydrophobic, dimming, antenna, ultraviolet-proof, water proof, solar energy heat insulation, lightweight, and ambient glasses. It also offers photovoltaic and panoramic sunroofs; exterior decoration products; and flush styling windows, as well as encapsulated glass and sliding window assemblies. The company was formerly known as Fujian Yaohua Glass Industry Group Co., Ltd. and changed its name to Fuyao Glass Industry Group Co., Ltd. in June 1992. Fuyao Glass Industry Group Co., Ltd. was founded in 1987 and is headquartered in Fuqing, China. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/03 12:58
End of Day Share Price2020/07/03 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.