Tianneng Power International
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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
1 Year Returns
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.
Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Tianneng Power International.
| 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.
| 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.
| 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 | ||
| 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 |
| 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 |
| 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
Current Discount Checks
- 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?
| 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.
| 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?
| 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 .
| 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?
| 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 |
| 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.
Value checks
We assess Tianneng Power International's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Auto Components industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Auto Components industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- 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
| 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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%).
Future performance checks
We assess Tianneng Power International's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from Tianneng Power International Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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).
Past performance checks
We assess Tianneng Power International's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Auto Components industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from Tianneng Power International Company Filings, last reported 6 months ago.
| 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).
Financial health checks
We assess Tianneng Power International's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Tianneng Power International has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
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
- 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.
| 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.
| 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 |
| 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).
- Dividends after 3 years are expected to be well covered by earnings (2.9x coverage).
Income/ dividend checks
We assess Tianneng Power International's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| 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:
- 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
Founder
CN¥2M
56
Kaihong Zhang
VP & Executive Director
CN¥500K
61
Aogen Zhang
VP & Executive Director
CN¥528K
61
Borong Shi
VP & Executive Director
CN¥535K
65
Jianzhong Zhou
VP & Executive Director
CN¥588K
48
8.5 yrs
Jing Wang
Financial Controller
55
10.5 yrs
Anfu Ren
Chief Engineer and Deputy Head of Research Institution
50
11.5 yrs
Shirley Hui
Company Secretary
52
9.8 yrs
Cheng Wen Cheng
Business Consultant
CN¥106K
74
8.2 yrs
Board of Directors Tenure
Average tenure and age of the Tianneng Power International board of directors in years:
- The tenure for the Tianneng Power International board of directors is about average.
Board of Directors
Tianren Zhang
Founder
CN¥2M
56
Kaihong Zhang
VP & Executive Director
CN¥500K
61
Aogen Zhang
VP & Executive Director
CN¥528K
61
Borong Shi
VP & Executive Director
CN¥535K
65
Jianzhong Zhou
VP & Executive Director
CN¥588K
48
4.3 yrs
Dongliang Huang
Independent Non Executive Director
CN¥206K
64
12.4 yrs
Feng Wu
Independent Non-Executive Director
CN¥200K
68
4.1 yrs
Yong Zhang
Independent Non-Executive Director
CN¥82K
43
0.9 yrs
Who owns this company?
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 | ||
Management checks
We assess Tianneng Power International's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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 - – Full articleIs 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 - – Full articleBefore 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 - – Full articleShould 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 - – Full articleIs 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 - – Full articleWhat 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 - – Full articleTianneng 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 - – Full articleDo 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 - – Full articleWhere 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 - – Full articleCan 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 - – Full articleCompany 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
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.
