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Tianneng Power International

SEHK:819
Snowflake Description

Very undervalued with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
819
SEHK
HK$7B
Market Cap
  1. Home
  2. HK
  3. Automobiles
Company description

Tianneng Power International Limited, an investment holding company, researches, develops, manufactures, and sells power batteries for electric vehicle market in the People’s Republic of China. The last earnings update was 114 days ago. More info.


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819 Share Price and Events
7 Day Returns
8.1%
SEHK:819
-1.3%
HK Auto Components
0.6%
HK Market
1 Year Returns
-35.6%
SEHK:819
-25.2%
HK Auto Components
-5.9%
HK Market
819 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tianneng Power International (819) 8.1% 14.6% -7.8% -35.6% 30.5% 134.2%
HK Auto Components -1.3% 1.8% -19% -25.2% 0.5% 19.1%
HK Market 0.6% 3.7% -8.2% -5.9% 17.2% 4.8%
1 Year Return vs Industry and Market
  • 819 underperformed the Auto Components industry which returned -25.2% over the past year.
  • 819 underperformed the Market in Hong Kong which returned -5.9% over the past year.
Price Volatility
819
Industry
5yr Volatility vs Market

Value

 Is Tianneng Power International 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 Tianneng Power International 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 Tianneng Power International.

SEHK:819 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.6%
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:819
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.271 (1 + (1- 25%) (41.3%))
1.445
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.45
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.445 * 6.65%)
11.61%

Discounted Cash Flow Calculation for SEHK:819 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tianneng Power International 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:819 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 11.61%)
2020 1,824.67 Analyst x3 1,634.79
2021 1,928.00 Analyst x3 1,547.63
2022 1,662.00 Analyst x1 1,195.28
2023 1,613.00 Analyst x1 1,039.33
2024 1,588.88 Est @ -1.5% 917.26
2025 1,581.80 Est @ -0.45% 818.14
2026 1,586.37 Est @ 0.29% 735.13
2027 1,599.11 Est @ 0.8% 663.92
2028 1,617.71 Est @ 1.16% 601.75
2029 1,640.60 Est @ 1.42% 546.76
Present value of next 10 years cash flows CN¥9,700.00
SEHK:819 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥1,640.60 × (1 + 2%) ÷ (11.61% – 2%)
CN¥17,411.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥17,411.20 ÷ (1 + 11.61%)10
CN¥5,802.64
SEHK:819 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥9,700.00 + CN¥5,802.64
CN¥15,502.64
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥15,502.64 / 1,126.73
CN¥13.76
SEHK:819 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:819)
1.138
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥13.76 x 1.138
HK$15.66
Value per share (HKD) From above. HK$15.66
Current discount Discount to share price of HK$6.98
= -1 x (HK$6.98 - HK$15.66) / HK$15.66
55.4%

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

Current Discount
Amount off the current price Tianneng Power International is available for.
Intrinsic value
>50%
Share price is HK$6.98 vs Future cash flow value of HK$15.66
Current Discount Checks
For Tianneng Power International to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tianneng Power International's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tianneng Power International's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Tianneng Power International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tianneng Power International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:819 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥1.11
SEHK:819 Share Price ** SEHK (2019-07-16) in HKD HK$6.98
SEHK:819 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥6.13
Hong Kong Auto Components Industry PE Ratio Median Figure of 21 Publicly-Listed Auto Components Companies 10.46x
Hong Kong Market PE Ratio Median Figure of 1,503 Publicly-Listed Companies 10.71x

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

** Primary Listing of Tianneng Power International.

SEHK:819 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:819 Share Price ÷ EPS (both in CNY)

= 6.13 ÷ 1.11

5.52x

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

  • Tianneng Power International is good value based on earnings compared to the HK Auto Components industry average.
  • Tianneng Power International is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Tianneng Power International's expected growth come at a high price?
Raw Data
SEHK:819 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.52x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
8.8%per year
Hong Kong Auto Components Industry PEG Ratio Median Figure of 7 Publicly-Listed Auto Components Companies 0.6x
Hong Kong Market PEG Ratio Median Figure of 477 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

SEHK:819 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.52x ÷ 8.8%

0.63x

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

  • Tianneng Power International is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Tianneng Power International's assets?
Raw Data
SEHK:819 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥4.92
SEHK:819 Share Price * SEHK (2019-07-16) in HKD HK$6.98
SEHK:819 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥6.13
Hong Kong Auto Components Industry PB Ratio Median Figure of 26 Publicly-Listed Auto Components Companies 1.37x
Hong Kong Market PB Ratio Median Figure of 2,190 Publicly-Listed Companies 0.92x
SEHK:819 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:819 Share Price ÷ Book Value per Share (both in CNY)

= 6.13 ÷ 4.92

1.25x

* Primary Listing of Tianneng Power International.

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

  • Tianneng Power International is good value based on assets compared to the HK Auto Components industry average.
X
Value checks
We assess Tianneng Power International'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 Components 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 Components industry average (and greater than 0)? (1 check)
  5. Tianneng Power International has a total score of 6/6, 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 Tianneng Power International expected to perform in the next 1 to 3 years based on estimates from 7 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
8.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tianneng Power International expected to grow at an attractive rate?
  • Tianneng Power International's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Tianneng Power International's earnings growth is positive but not above the Hong Kong market average.
  • Tianneng Power International's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:819 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:819 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 8.8%
SEHK:819 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 9.1%
Hong Kong Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.5%

*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:819 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:819 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 45,717 2,250 1,620 6
2020-12-31 42,405 2,452 1,466 7
2019-12-31 38,874 1,915 1,339 7
SEHK:819 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 34,552 2,077 1,252
2018-09-30 32,300 2,400 1,252
2018-06-30 30,049 2,724 1,252
2018-03-31 28,476 2,463 1,215
2017-12-31 26,904 2,202 1,178
2017-09-30 25,321 2,074 1,039
2017-06-30 23,737 1,946 899
2017-03-31 22,609 2,018 879
2016-12-31 21,481 2,089 859
2016-09-30 20,429 1,865 799
2016-06-30 19,378 1,642 740
2016-03-31 18,591 1,826 676

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tianneng Power International's earnings are expected to grow by 8.8% yearly, however this is not considered high growth (20% yearly).
  • Tianneng Power International's revenue is expected to grow by 9.1% 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:819 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Tianneng Power International Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:819 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.41 1.85 0.80 4.00
2020-12-31 1.28 1.62 0.85 4.00
2019-12-31 1.17 1.41 0.90 4.00
SEHK:819 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 1.11
2018-09-30 1.11
2018-06-30 1.11
2018-03-31 1.08
2017-12-31 1.05
2017-09-30 0.92
2017-06-30 0.80
2017-03-31 0.78
2016-12-31 0.76
2016-09-30 0.71
2016-06-30 0.66
2016-03-31 0.60

*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.
  • Tianneng Power International is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Tianneng Power International'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.
Tianneng Power International has a total score of 1/6, 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 Tianneng Power International 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 Tianneng Power International's growth in the last year to its industry (Auto Components).
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.
  • Tianneng Power International has delivered over 20% year on year earnings growth in the past 5 years.
  • Tianneng Power International's 1-year earnings growth is less than its 5-year average (6.3% vs 47.9%)
  • Tianneng Power International's earnings growth has exceeded the HK Auto Components industry average in the past year (6.3% vs 0.4%).
Earnings and Revenue History
Tianneng Power International'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 Tianneng Power International Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:819 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 34,552.09 1,252.43 1,476.02 1,114.29
2018-09-30 32,300.34 1,252.40 1,406.54 1,041.19
2018-06-30 30,048.60 1,252.38 1,254.19 968.08
2018-03-31 28,476.25 1,215.37 1,188.99 925.37
2017-12-31 26,903.90 1,178.37 1,206.66 882.66
2017-09-30 25,320.64 1,038.82 1,112.70 835.46
2017-06-30 23,737.38 899.27 1,018.74 788.26
2017-03-31 22,609.14 878.91 989.51 742.38
2016-12-31 21,480.89 858.55 960.28 696.50
2016-09-30 20,429.25 799.36 949.07 648.70
2016-06-30 19,377.61 740.18 937.86 600.89
2016-03-31 18,590.84 675.56 929.99 583.36
2015-12-31 17,804.07 610.94 922.13 565.84
2015-09-30 16,401.10 264.24 943.10 537.23
2015-06-30 14,998.13 -82.45 964.07 508.63
2015-03-31 14,520.93 -193.68 983.75 456.64
2014-12-31 14,043.73 -304.92 1,003.42 404.65
2014-09-30 14,168.56 -102.97 957.10 371.22
2014-06-30 14,293.38 98.98 910.78 337.78
2014-03-31 13,964.22 117.14 845.36 346.54
2013-12-31 13,635.06 135.30 779.94 355.31
2013-09-30 12,808.68 276.08 713.04 341.92
2013-06-30 11,982.30 416.87 646.15 328.53
2013-03-31 10,934.97 563.50 599.43 311.06
2012-12-31 9,887.64 710.14 552.71 293.59
2012-09-30 8,356.45 750.69 484.85 278.91

*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.
  • Tianneng Power International has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Tianneng Power International used its assets more efficiently than the HK Auto Components industry average last year based on Return on Assets.
  • Tianneng Power International has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tianneng Power International'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 Components 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.
Tianneng Power International has a total score of 5/6, 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 Tianneng Power International'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 Tianneng Power International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tianneng Power International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tianneng Power International's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tianneng Power International'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 4.2x 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 Tianneng Power International Company Filings, last reported 6 months ago.

SEHK:819 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 5,773.28 2,702.55 5,903.90
2018-09-30 5,773.28 2,702.55 5,903.90
2018-06-30 5,142.94 3,422.91 4,796.71
2018-03-31 5,142.94 3,422.91 4,796.71
2017-12-31 5,063.49 2,228.70 3,872.39
2017-09-30 5,063.49 2,228.70 3,872.39
2017-06-30 4,319.81 3,264.62 3,541.65
2017-03-31 4,319.81 3,264.62 3,541.65
2016-12-31 4,106.60 1,992.05 1,935.73
2016-09-30 4,106.60 1,992.05 1,935.73
2016-06-30 3,613.23 2,561.20 1,816.52
2016-03-31 3,613.23 2,561.20 1,816.52
2015-12-31 3,467.14 2,159.69 1,490.27
2015-09-30 3,467.14 2,159.69 1,490.27
2015-06-30 3,016.56 2,830.05 1,316.16
2015-03-31 3,016.56 2,830.05 1,316.16
2014-12-31 2,745.64 3,573.15 1,625.16
2014-09-30 2,745.64 3,573.15 1,625.16
2014-06-30 3,076.58 3,920.04 903.18
2014-03-31 3,076.58 3,920.04 903.18
2013-12-31 3,062.27 2,797.40 945.75
2013-09-30 3,062.27 2,797.40 945.75
2013-06-30 3,013.55 3,010.39 1,010.73
2013-03-31 3,013.55 3,010.39 1,010.73
2012-12-31 3,122.34 2,906.39 1,025.16
2012-09-30 3,122.34 2,906.39 1,025.16
  • Tianneng Power International's level of debt (46.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (91.8% vs 46.8% today).
  • Debt is well covered by operating cash flow (76.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.4x coverage).
X
Financial health checks
We assess Tianneng Power International'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. Tianneng Power International 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 Tianneng Power International'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
5.43%
Current annual income from Tianneng Power International dividends. Estimated to be 6.99% next year.
If you bought HK$2,000 of Tianneng Power International shares you are expected to receive HK$109 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?
  • Tianneng Power International's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Tianneng Power International's dividend is below the markets top 25% of dividend payers in Hong Kong (5.74%).
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:819 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 7 Analyst Estimates (S&P Global) See Below
Hong Kong Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.2%
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:819 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.48 5.00
2020-12-31 0.44 6.00
2019-12-31 0.38 6.00
SEHK:819 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-25 0.333 5.674
2019-03-22 0.333 5.053
2018-03-26 0.309 4.334
2018-03-23 0.309 5.154
2017-03-27 0.229 3.860
2016-03-18 0.267 4.759
2015-09-04 0.000 0.000
2015-08-31 0.000 0.000
2015-03-27 0.000 0.000
2014-03-31 0.036 1.825
2014-03-17 0.036 1.628
2013-09-06 0.189 8.092
2013-08-30 0.189 7.835
2013-03-19 0.192 6.113
2012-03-26 0.167 4.387
2011-03-31 0.098 3.092
2011-03-28 0.098 3.128
2010-03-22 0.074 2.579
2009-04-06 0.070 2.748
2009-03-27 0.070 5.963

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 Tianneng Power International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.9x coverage).
X
Income/ dividend checks
We assess Tianneng Power International'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 Tianneng Power International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tianneng Power International has a total score of 4/6, 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 Tianneng Power International'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
Tianren Zhang
COMPENSATION CN¥1,551,000
AGE 56
CEO Bio

Dr. Zhang Tianren is the Founder of Tianneng Power International Limited and serves as its Chairman, President and Chief Executive Officer. Dr. Zhang has been the Chairman and General Manager of Tianneng Battery since 2003. He has over 19 years of experience in management of motive battery industry in China. He served as Factory Manager of Zhejiang Changxing Storage Battery Factory from 1989 to 2002. Dr. Zhang served various positions in the rechargeable battery and other related industries. Dr. Zhang serves as Vice Council Chairman of the PRC Battery Industry Association and Chairman of the Rechargeable Battery Industry Association in Zhejiang Province. Dr. Zhang was named as one of the township entrepreneurs of China in 2001. He is qualified Senior Economist since April 2002.

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

Average tenure and age of the Tianneng Power International management team in years:

9.8
Average Tenure
56
Average Age
  • The average tenure for the Tianneng Power International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tianren Zhang

TITLE
Founder
COMPENSATION
CN¥2M
AGE
56

Kaihong Zhang

TITLE
VP & Executive Director
COMPENSATION
CN¥500K
AGE
61

Aogen Zhang

TITLE
VP & Executive Director
COMPENSATION
CN¥528K
AGE
61

Borong Shi

TITLE
VP & Executive Director
COMPENSATION
CN¥535K
AGE
65

Jianzhong Zhou

TITLE
VP & Executive Director
COMPENSATION
CN¥588K
AGE
48
TENURE
8.5 yrs

Jing Wang

TITLE
Financial Controller
AGE
55
TENURE
10.5 yrs

Anfu Ren

TITLE
Chief Engineer and Deputy Head of Research Institution
AGE
50
TENURE
11.5 yrs

Shirley Hui

TITLE
Company Secretary
AGE
52
TENURE
9.8 yrs

Cheng Wen Cheng

TITLE
Business Consultant
COMPENSATION
CN¥106K
AGE
74
TENURE
8.2 yrs
Board of Directors Tenure

Average tenure and age of the Tianneng Power International board of directors in years:

4.2
Average Tenure
61
Average Age
  • The tenure for the Tianneng Power International board of directors is about average.
Board of Directors

Tianren Zhang

TITLE
Founder
COMPENSATION
CN¥2M
AGE
56

Kaihong Zhang

TITLE
VP & Executive Director
COMPENSATION
CN¥500K
AGE
61

Aogen Zhang

TITLE
VP & Executive Director
COMPENSATION
CN¥528K
AGE
61

Borong Shi

TITLE
VP & Executive Director
COMPENSATION
CN¥535K
AGE
65

Jianzhong Zhou

TITLE
VP & Executive Director
COMPENSATION
CN¥588K
AGE
48
TENURE
4.3 yrs

Dongliang Huang

TITLE
Independent Non Executive Director
COMPENSATION
CN¥206K
AGE
64
TENURE
12.4 yrs

Feng Wu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥200K
AGE
68
TENURE
4.1 yrs

Yong Zhang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥82K
AGE
43
TENURE
0.9 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$) Value (HK$)
18. Oct 18 Sell BlackRock, Inc. Company 15. Oct 18 15. Oct 18 -472,000 HK$6.13 HK$-2,894,869
01. Sep 18 Sell BlackRock, Inc. Company 30. Aug 18 30. Aug 18 -6,538,000 HK$9.84 HK$-64,306,478
X
Management checks
We assess Tianneng Power International'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. Tianneng Power International 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

What Should We Expect From Tianneng Power International Limited's (HKG:819) Earnings Over The Next Year?

In December 2018, Tianneng Power International Limited (HKG:819) released its earnings update. … Check out our latest analysis for Tianneng Power International Can we expect Tianneng Power International to keep growing? … SEHK:819 Past and Future Earnings, June 10th 2019 This results in an annual growth rate of 8.8% based on the most recent earnings level of CN¥1.3b to the final forecast of CN¥1.6b by 2022.

Simply Wall St -

Is Tianneng Power International Limited (HKG:819) A Smart Choice For Dividend Investors?

Is Tianneng Power International Limited (HKG:819) a good dividend stock? … While the above analysis focuses on dividends relative to a company's earnings, we do note Tianneng Power International's strong net cash position, which will let it pay larger dividends for a time, should it choose. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Tianneng Power International has grown its earnings per share at 56% per annum over the past five years. With high earnings per share growth in recent times and a modest payout ratio, we think this is an attractive combination if earnings can be reinvested to generate further growth. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.

Simply Wall St -

Before You Buy Tianneng Power International Limited (HKG:819), Consider Its Volatility

With a beta of 1.07, (which is quite close to 1) the share price of Tianneng Power International has historically been about as voltile as the broader market. … If the future looks like the past, we could therefore consider it likely that the stock price will experience share price volatility that is roughly similar to the overall market. … What this means for you: It is probable that there is a link between the share price of Tianneng Power International and the broader market, since it has a beta value quite close to one.

Simply Wall St -

Should You Be Pleased About The CEO Pay At Tianneng Power International Limited's (HKG:819)

View our latest analysis for Tianneng Power International How Does Tianren Zhang's Compensation Compare With Similar Sized Companies? … According to our data, Tianneng Power International Limited has a market capitalization of HK$7.6b, and pays its CEO total annual compensation worth CN¥1.5m. … It appears that Tianneng Power International Limited remunerates its CEO below most similar sized companies.

Simply Wall St -

Is Now An Opportune Moment To Examine Tianneng Power International Limited (HKG:819)?

Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … A question to answer is whether Tianneng Power International's current trading price of HK$7.24 reflective of the actual value of the? … Let’s take a look at Tianneng Power International’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

What Percentage Of Tianneng Power International Limited (HKG:819) Shares Do Insiders Own?

If you want to know who really controls Tianneng Power International Limited (HKG:819), then you'll have to look at the makeup of its share registry. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … institutions are noticeable on the share registry

Simply Wall St -

Tianneng Power International Limited (HKG:819): Time For A Financial Health Check

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is. … Let's work through some financial health checks you may wish to consider if you're interested in this stock.

Simply Wall St -

Do You Like Tianneng Power International Limited (HKG:819) At This P/E Ratio?

To keep it practical, we'll show how Tianneng Power International Limited's (HKG:819) P/E ratio could help you assess the value on offer. … Looking at earnings over the last twelve months, Tianneng Power International has a P/E ratio of 6.12. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS)

Simply Wall St -

Where Tianneng Power International Limited (HKG:819) Stands In Terms Of Earnings Growth Against Its Industry

For investors with a long-term horizon, assessing earnings trend over time and against industry benchmarks is more valuable than looking at a single earnings announcement in one point in time. … Investors may find my commentary, albeit very high-level and brief, on Tianneng Power International Limited (HKG:819) useful as an attempt to give more color around how Tianneng Power International is currently performing. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 48%, indicating the rate at which 819 is growing has slowed down

Simply Wall St -

Can Tianneng Power International Limited's (HKG:819) ROE Continue To Surpass The Industry Average?

Our data shows Tianneng Power International has a return on equity of 23% for the last year. … One way to conceptualize this, is that for each HK$1 of shareholders' equity it has, the company made HK$0.23 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Company Info

Description

Tianneng Power International Limited, an investment holding company, researches, develops, manufactures, and sells power batteries for electric vehicle market in the People’s Republic of China. It offers lead-acid motive batteries for use in electric cars, bicycles, and tricycles; lithium batteries for new energy vehicles; start-and-stop batteries for vehicles; and wind power and solar power storage batteries, as well as recycled batteries and battery related accessories. The company also manufactures and sells electrode plates; sells metal materials; trades in new energy materials; and provides integrated power storage ancillary services. Tianneng Power International Limited was founded in 1986 and is based in Wanchai, Hong Kong.

Details
Name: Tianneng Power International Limited
819
Exchange: SEHK
Founded: 1986
HK$7,447,662,165
1,126,726,500
Website: http://www.tianneng.com.hk
Address: Tianneng Power International Limited
Central Plaza,
32nd Floor,
Wanchai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 819 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 11. Jun 2007
OTCPK TIAN.F Ordinary Shares Pink Sheets LLC US USD 11. Jun 2007
DB TPQ Ordinary Shares Deutsche Boerse AG DE EUR 11. Jun 2007
SHSC 819 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 11. Jun 2007
SZSC 819 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 11. Jun 2007
Number of employees
Current staff
Staff numbers
20,508
Tianneng Power International employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 12:48
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/04/26
Last earnings filing: 2019/03/24
Last earnings reported: 2018/12/31
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.