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Xinyi Glass Holdings

SEHK:868
Snowflake Description

Solid track record with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
868
SEHK
HK$32B
Market Cap
  1. Home
  2. HK
  3. Automobiles
Company description

Xinyi Glass Holdings Limited, an investment holding company, produces and sells automobile, construction, float, and other glass products for commercial and industrial applications. The last earnings update was 67 days ago. More info.


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868 Share Price and Events
7 Day Returns
1.8%
SEHK:868
0.3%
HK Auto Components
1.1%
HK Market
1 Year Returns
-19.1%
SEHK:868
-33.9%
HK Auto Components
-15.4%
HK Market
868 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Xinyi Glass Holdings (868) 1.8% -4.8% -11.4% -19.1% 40.2% 67%
HK Auto Components 0.3% -11% -13.8% -33.9% 3.5% 26.1%
HK Market 1.1% -3.4% -8.1% -15.4% 21.3% 3.6%
1 Year Return vs Industry and Market
  • 868 outperformed the Auto Components industry which returned -33.9% over the past year.
  • 868 underperformed the Market in Hong Kong which returned -15.4% over the past year.
Price Volatility
868
Industry
5yr Volatility vs Market

Value

 Is Xinyi Glass Holdings 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 Xinyi Glass Holdings 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 Xinyi Glass Holdings.

SEHK:868 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.8%
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:868
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 1.19
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.195 (1 + (1- 25%) (31.42%))
1.319
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.32
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.319 * 6.65%)
10.77%

Discounted Cash Flow Calculation for SEHK:868 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Xinyi Glass Holdings 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:868 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 10.77%)
2019 2,340.00 Analyst x2 2,112.42
2020 2,841.00 Analyst x2 2,315.25
2021 2,923.00 Analyst x2 2,150.40
2022 2,998.82 Est @ 2.59% 1,991.61
2023 3,071.29 Est @ 2.42% 1,841.36
2024 3,141.70 Est @ 2.29% 1,700.38
2025 3,211.00 Est @ 2.21% 1,568.86
2026 3,279.87 Est @ 2.14% 1,446.65
2027 3,348.82 Est @ 2.1% 1,333.41
2028 3,418.23 Est @ 2.07% 1,228.67
Present value of next 10 years cash flows HK$17,689.00
SEHK:868 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$3,418.23 × (1 + 2%) ÷ (10.77% – 2%)
HK$39,753.99
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$39,753.99 ÷ (1 + 10.77%)10
HK$14,289.44
SEHK:868 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$17,689.00 + HK$14,289.44
HK$31,978.44
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$31,978.44 / 3,991.71
HK$8.01
SEHK:868 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$8.01
Current discount Discount to share price of HK$7.95
= -1 x (HK$7.95 - HK$8.01) / HK$8.01
0.8%

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

Current Discount
Amount off the current price Xinyi Glass Holdings is available for.
Intrinsic value
1%
Share price is HK$7.95 vs Future cash flow value of HK$8.01
Current Discount Checks
For Xinyi Glass Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Xinyi Glass Holdings's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Xinyi Glass Holdings's share price is below the future cash flow value, but not 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 Xinyi Glass Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Xinyi Glass Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:868 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$1.06
SEHK:868 Share Price ** SEHK (2019-06-14) in HKD HK$7.95
Hong Kong Auto Components Industry PE Ratio Median Figure of 20 Publicly-Listed Auto Components Companies 10.23x
Hong Kong Market PE Ratio Median Figure of 1,488 Publicly-Listed Companies 10.77x

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

** Primary Listing of Xinyi Glass Holdings.

SEHK:868 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:868 Share Price ÷ EPS (both in HKD)

= 7.95 ÷ 1.06

7.52x

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

  • Xinyi Glass Holdings is good value based on earnings compared to the HK Auto Components industry average.
  • Xinyi Glass Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Xinyi Glass Holdings's expected growth come at a high price?
Raw Data
SEHK:868 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.52x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
8.3%per year
Hong Kong Auto Components Industry PEG Ratio Median Figure of 7 Publicly-Listed Auto Components Companies 0.56x
Hong Kong Market PEG Ratio Median Figure of 466 Publicly-Listed Companies 0.77x

*Line of best fit is calculated by linear regression .

SEHK:868 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.52x ÷ 8.3%

0.9x

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

  • Xinyi Glass Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Xinyi Glass Holdings's assets?
Raw Data
SEHK:868 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$4.66
SEHK:868 Share Price * SEHK (2019-06-14) in HKD HK$7.95
Hong Kong Auto Components Industry PB Ratio Median Figure of 25 Publicly-Listed Auto Components Companies 1.39x
Hong Kong Market PB Ratio Median Figure of 2,169 Publicly-Listed Companies 0.94x
SEHK:868 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:868 Share Price ÷ Book Value per Share (both in HKD)

= 7.95 ÷ 4.66

1.7x

* Primary Listing of Xinyi Glass Holdings.

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

  • Xinyi Glass Holdings is overvalued based on assets compared to the HK Auto Components industry average.
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Value checks
We assess Xinyi Glass Holdings'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. Xinyi Glass Holdings has a total score of 3/6, 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 Xinyi Glass Holdings expected to perform in the next 1 to 3 years based on estimates from 12 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
8.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Xinyi Glass Holdings expected to grow at an attractive rate?
  • Xinyi Glass Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Xinyi Glass Holdings's earnings growth is positive but not above the Hong Kong market average.
  • Xinyi Glass Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:868 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:868 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 8.3%
SEHK:868 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 11.3%
Hong Kong Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 11.6%
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 10.9%

*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:868 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:868 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 22,292 4,915 5,303 7
2020-12-31 20,007 4,856 4,945 11
2019-12-31 17,404 4,004 4,294 12
SEHK:868 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 16,014 4,643 4,237
2018-09-30 15,907 4,880 4,311
2018-06-30 15,799 5,107 4,385
2018-03-31 15,263 4,316 4,200
2017-12-31 14,728 3,535 4,014
2017-09-30 14,184 3,121 3,747
2017-06-30 13,640 2,708 3,480
2017-03-31 13,244 3,137 3,347
2016-12-31 12,848 3,565 3,213
2016-09-30 12,455 3,209 2,875
2016-06-30 12,062 2,853 2,537
2016-03-31 11,761 2,745 2,325

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Xinyi Glass Holdings's earnings are expected to grow by 8.3% yearly, however this is not considered high growth (20% yearly).
  • Xinyi Glass Holdings's revenue is expected to grow by 11.3% 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:868 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Xinyi Glass Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:868 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.32 1.48 0.99 6.00
2020-12-31 1.22 1.50 0.87 9.00
2019-12-31 1.06 1.21 0.90 10.00
SEHK:868 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 1.06
2018-09-30 1.07
2018-06-30 1.09
2018-03-31 1.05
2017-12-31 1.01
2017-09-30 0.95
2017-06-30 0.89
2017-03-31 0.86
2016-12-31 0.83
2016-09-30 0.74
2016-06-30 0.65
2016-03-31 0.59

*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.
  • Xinyi Glass Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Xinyi Glass Holdings'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.
Xinyi Glass Holdings has a total score of 3/6, 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 Xinyi Glass Holdings 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 Xinyi Glass Holdings'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.
  • Xinyi Glass Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Xinyi Glass Holdings's 1-year earnings growth is less than its 5-year average (5.6% vs 15.1%)
  • Xinyi Glass Holdings's earnings growth has exceeded the HK Auto Components industry average in the past year (5.6% vs 0.7%).
Earnings and Revenue History
Xinyi Glass Holdings'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 Xinyi Glass Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:868 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 16,014.49 4,236.81 2,407.05
2018-09-30 15,906.54 4,311.09 2,324.38
2018-06-30 15,798.58 4,385.36 2,241.70
2018-03-31 15,263.06 4,199.56 2,143.39
2017-12-31 14,727.54 4,013.76 2,045.08
2017-09-30 14,183.85 3,747.00 1,951.49
2017-06-30 13,640.16 3,480.23 1,857.90
2017-03-31 13,244.28 3,346.83 1,840.15
2016-12-31 12,848.40 3,213.43 1,822.39
2016-09-30 12,455.43 2,875.41 1,784.43
2016-06-30 12,062.47 2,537.39 1,746.46
2016-03-31 11,761.37 2,325.27 1,680.50
2015-12-31 11,460.26 2,113.14 1,614.54
2015-09-30 11,285.06 1,829.99 1,632.71
2015-06-30 11,109.85 1,546.85 1,650.89
2015-03-31 10,985.47 1,455.26 1,644.44
2014-12-31 10,861.08 1,363.68 1,637.99
2014-09-30 10,628.54 2,229.30 1,515.53
2014-06-30 10,396.00 3,094.93 1,393.07
2014-03-31 10,166.04 3,169.99 1,321.97
2013-12-31 9,936.08 3,245.04 1,250.87
2013-06-30 8,414.47 1,496.33 1,098.39
2013-03-31 8,423.76 1,278.85 1,077.55
2012-12-31 8,433.05 1,061.36 1,056.71
2012-09-30 9,361.80 1,044.17 1,137.59
2012-06-30 8,938.39 900.19 1,078.60

*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.
  • Xinyi Glass Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Xinyi Glass Holdings used its assets more efficiently than the HK Auto Components industry average last year based on Return on Assets.
  • Xinyi Glass Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Xinyi Glass Holdings'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.
Xinyi Glass Holdings 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 Xinyi Glass Holdings'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 Xinyi Glass Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Xinyi Glass Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Xinyi Glass Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Xinyi Glass Holdings'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 not covered by short term assets, assets are 0.9x 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 Xinyi Glass Holdings Company Filings, last reported 5 months ago.

SEHK:868 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 18,702.26 9,969.37 4,722.30
2018-09-30 18,702.26 9,969.37 4,722.30
2018-06-30 18,581.74 8,820.77 4,299.58
2018-03-31 18,581.74 8,820.77 4,299.58
2017-12-31 18,306.19 8,466.39 3,107.00
2017-09-30 18,306.19 8,466.39 3,107.00
2017-06-30 15,458.86 7,866.21 1,478.69
2017-03-31 15,458.86 7,866.21 1,478.69
2016-12-31 13,246.89 7,674.44 2,801.02
2016-09-30 13,246.89 7,674.44 2,801.02
2016-06-30 13,040.93 6,810.62 2,155.28
2016-03-31 13,040.93 6,810.62 2,155.28
2015-12-31 12,725.71 6,028.27 1,382.59
2015-09-30 12,725.71 6,028.27 1,382.59
2015-06-30 13,020.09 6,206.21 1,190.09
2015-03-31 13,020.09 6,206.21 1,190.09
2014-12-31 12,335.33 6,012.62 831.17
2014-09-30 12,335.33 6,012.62 831.17
2014-06-30 12,426.38 5,199.95 894.69
2014-03-31 12,426.38 5,199.95 894.69
2013-12-31 12,208.93 5,140.00 1,042.43
2013-06-30 10,726.05 4,972.31 898.18
2013-03-31 10,726.05 4,972.31 898.18
2012-12-31 9,946.07 4,265.55 703.49
2012-09-30 9,946.07 4,265.55 703.49
2012-06-30 9,117.85 4,321.76 935.62
  • Xinyi Glass Holdings's level of debt (53.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (42.1% vs 53.3% today).
  • Debt is well covered by operating cash flow (46.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 27.4x coverage).
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Financial health checks
We assess Xinyi Glass Holdings'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. Xinyi Glass Holdings has a total score of 4/6, 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 Xinyi Glass Holdings'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
6.54%
Current annual income from Xinyi Glass Holdings dividends. Estimated to be 7.84% next year.
If you bought HK$2,000 of Xinyi Glass Holdings shares you are expected to receive HK$131 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?
  • Xinyi Glass Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.07%).
  • Xinyi Glass Holdings's dividend is above the markets top 25% of dividend payers in Hong Kong (5.92%).
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:868 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 12 Analyst Estimates (S&P Global) See Below
Hong Kong Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.3%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 Stocks 3.7%
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 5.9%

Industry and Market average data is calculated daily.

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

SEHK:868 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.73 5.00
2020-12-31 0.64 9.00
2019-12-31 0.55 9.00
SEHK:868 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-09 0.520 6.140
2018-06-01 0.480 5.308
2017-04-27 0.460 5.142
2017-02-28 0.460 6.567
2016-09-23 0.340 5.211
2016-08-03 0.340 4.922
2016-05-12 0.265 4.710
2015-04-27 0.150 3.535
2014-04-30 0.280 6.035
2013-09-30 0.260 3.753
2013-07-23 0.260 3.649
2013-04-29 0.150 2.434
2013-02-28 0.150 2.734
2012-02-27 0.160 3.627
2011-08-01 0.240 5.405
2011-02-28 0.260 3.338
2010-04-26 0.105 2.427
2010-03-30 0.105 3.045

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

  • Xinyi Glass Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Xinyi Glass Holdings only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Xinyi Glass Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Xinyi Glass Holdings'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 Xinyi Glass Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Xinyi Glass Holdings 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 Xinyi Glass Holdings'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
Ching Sai Tung
COMPENSATION HK$32,545,000
AGE 52
CEO Bio

Mr. Ching Sai Tung, B.B.S., has been an Executive Director and Vice Chairman at Xinyi Energy Holdings Limited since joining in July 2006. Mr. Tung serves as the Chief Executive Officer of Xinyi Glass Holdings Limited and has been its Executive Director since June 25, 2004. Mr. Tung was an Executive Director of Xinyi Solar Holdings Limited since June 5, 2011 until May 28, 2019. He was responsible for overseeing daily operations at Xinyi. Mr. Tung is a Co-Owner at Full Guang Holdings Limited. Mr. TUNG joined Xinyi Automobile Group in July 2006. He has been with Xinyi Glass Holdings for 16 years since its inception in November 1988. He has been working in Xinyi Glass Group for 30 years since its inception. He serves as the Chairman of Xinyi Automobile Glass Hong Kong Enterprises Limited. He serves as Vice Chairman of Xinyi Solar Holdings Limited and has been its Non-Executive Director since May 28, 2019. He has been a Non Executive Director of Xinyi Automobile Glass Hong Kong Enterprises Limited since November 18, 2015. He is a standing committee member of the twelve session of the Guangxi Zhuang Autonomous Regional Committee of the Chinese People's Political Consultative Conference, Vice Chairman of the China Architectural and Industrial Glass Association, a member of the executive committee of the twelve session of the All-China Federation of Industry and Commerce, Chairman of the Happy Hong Kong Foundation and the president of Hong Kong Industrial & Commercial Association. He is also a Committee Member of The Chinese People’s Political Consultative Conference of Fujian Province, a committee member of The Chinese People’s Political Consultative Conference Nanping Committee of Fujian Province, the Chairman of the Shenzhen Federation of Young Entrepreneurs and Vice President of The Automobile Association of Shenzhen. Mr. TUNG obtained the Third Shenzhen Municipal Ten Outstanding Young Entrepreneurs award in September 2001 and was awarded the “Young Industrialist Awards of Hongkong 2006”. Mr. TUNG graduated from the Sun Yat-Sen University with a Senior Executive Master degree in Business Administration in 2007.

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

Yin Yee Lee

TITLE
Founder & Chairman
COMPENSATION
HK$24M
AGE
65

Ching Sai Tung

TITLE
CEO & Executive Director
COMPENSATION
HK$33M
AGE
52

Ching Bor Tung

TITLE
Vice Chairman & Chief Purchasing Officer
COMPENSATION
HK$14M
AGE
55

Shing Lee

TITLE
Executive Director
COMPENSATION
HK$13M
AGE
38

Sik Yuen Lau

TITLE
CFO & Company Secretary
AGE
51

Bi Xu

TITLE
Executive Vice President
AGE
50
Board of Directors Tenure

Average tenure and age of the Xinyi Glass Holdings board of directors in years:

14.9
Average Tenure
60
Average Age
  • The average tenure for the Xinyi Glass Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ching Sai Tung

TITLE
CEO & Executive Director
COMPENSATION
HK$33M
AGE
52
TENURE
15 yrs

Ching Bor Tung

TITLE
Vice Chairman & Chief Purchasing Officer
COMPENSATION
HK$14M
AGE
55

Shing Lee

TITLE
Executive Director
COMPENSATION
HK$13M
AGE
38
TENURE
10.7 yrs

Kwong Siu Lam

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
83
TENURE
14.8 yrs

Yin Yee Lee

TITLE
Founder & Chairman
COMPENSATION
HK$24M
AGE
65

Samuel Wong

TITLE
Independent Non Executive Director
COMPENSATION
HK$300K
AGE
68
TENURE
14.8 yrs

Nang Sze Sze

TITLE
Non-Executive Director
COMPENSATION
HK$300K
AGE
60
TENURE
15 yrs

Ngan Ho Ng

TITLE
Non-Executive Director
COMPENSATION
HK$300K
AGE
53
TENURE
15 yrs

Ching Wai Li

TITLE
Non-Executive Director
COMPENSATION
HK$300K
AGE
60
TENURE
15 yrs

Ching Leung Li

TITLE
Non-Executive Director
COMPENSATION
HK$300K
AGE
62
TENURE
14.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
27. Jun 18 Buy Ching Wai Li Individual 25. Jun 18 25. Jun 18 500,000 HK$8.95 HK$4,475,000
27. Jun 18 Buy Kam Ha Li Individual 26. Jun 18 26. Jun 18 250,000 HK$8.60 HK$2,151,000
27. Jun 18 Buy Sing Lee Individual 26. Jun 18 26. Jun 18 250,000 HK$8.60 HK$2,151,000
27. Jun 18 Buy Yin Yee Lee Individual 26. Jun 18 26. Jun 18 1,390,000 HK$8.59 HK$11,944,549
27. Jun 18 Buy Ching Sai Tung Individual 26. Jun 18 26. Jun 18 3,000,000 HK$8.66 HK$25,979,992
26. Jun 18 Buy Yin Yee Lee Individual 25. Jun 18 25. Jun 18 3,000,000 HK$8.95 HK$26,846,703
26. Jun 18 Buy Ching Sai Tung Individual 25. Jun 18 25. Jun 18 800,000 HK$8.92 HK$7,137,280
22. Jun 18 Buy Yin Yee Lee Individual 20. Jun 18 20. Jun 18 3,264,000 HK$9.44 HK$30,822,933
22. Jun 18 Sell Man Li Individual 20. Jun 18 20. Jun 18 -877,000 HK$9.41 HK$-8,255,637
22. Jun 18 Buy Man Li Individual 20. Jun 18 20. Jun 18 1,663,000 HK$9.41 HK$15,654,645
22. Jun 18 Sell Ching Bor Tung Individual 20. Jun 18 20. Jun 18 -17,543,000 HK$9.38 HK$-164,553,293
22. Jun 18 Buy Ching Bor Tung Individual 20. Jun 18 20. Jun 18 18,543,000 HK$9.38 HK$173,933,290
22. Jun 18 Sell Ching Sai Tung Individual 20. Jun 18 20. Jun 18 -59,990,000 HK$9.45 HK$-567,163,599
22. Jun 18 Buy Ching Sai Tung Individual 20. Jun 18 20. Jun 18 60,990,000 HK$9.45 HK$576,617,901
25. Jun 18 Buy Yin Yee Lee Individual 22. Jun 18 22. Jun 18 160,000 HK$9.05 HK$1,448,000
25. Jun 18 Buy Ching Wai Li Individual 22. Jun 18 22. Jun 18 500,000 HK$9.33 HK$4,664,999
25. Jun 18 Buy Ching Sai Tung Individual 22. Jun 18 22. Jun 18 732,000 HK$9.25 HK$6,771,585
22. Jun 18 Buy Man Li Individual 19. Jun 18 19. Jun 18 214,000 HK$9.41 HK$2,013,740
22. Jun 18 Buy Ching Bor Tung Individual 19. Jun 18 19. Jun 18 1,000,000 HK$9.50 HK$9,500,003
22. Jun 18 Buy Ngan Ho Ng Individual 20. Jun 18 20. Jun 18 500,000 HK$9.46 HK$4,727,799
22. Jun 18 Buy Chuen Tran Individual 21. Jun 18 21. Jun 18 30,000 HK$9.22 HK$276,600
22. Jun 18 Buy Ching Leung Li Individual 21. Jun 18 21. Jun 18 1,000,000 HK$9.40 HK$9,400,000
22. Jun 18 Buy Yin Yee Lee Individual 21. Jun 18 21. Jun 18 4,562,000 HK$9.26 HK$42,244,120
22. Jun 18 Buy Ching Bor Tung Individual 21. Jun 18 21. Jun 18 2,000,000 HK$9.32 HK$18,640,002
22. Jun 18 Buy Ching Sai Tung Individual 21. Jun 18 21. Jun 18 1,000,000 HK$9.23 HK$9,230,399
19. Jun 18 Buy Ching Leung Li Individual 19. Jun 18 19. Jun 18 1,000,000 HK$9.49 HK$9,494,602
19. Jun 18 Buy Yin Yee Lee Individual 19. Jun 18 19. Jun 18 2,484,000 HK$9.45 HK$23,471,074
19. Jun 18 Buy Ching Sai Tung Individual 19. Jun 18 19. Jun 18 1,600,000 HK$9.45 HK$15,118,081
X
Management checks
We assess Xinyi Glass Holdings'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. Xinyi Glass Holdings 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

Will Xinyi Glass Holdings Limited's (HKG:868) Earnings Grow In The Year Ahead?

Based on Xinyi Glass Holdings Limited's (HKG:868) earnings update in December 2018, analyst forecasts seem fairly subdued, as a 1.4% rise in profits is expected in the upcoming year, against the higher past 5-year average growth rate of 15%. … View our latest analysis for Xinyi Glass Holdings What can we expect from Xinyi Glass Holdings in the longer term? … To understand the overall trajectory of 868's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope.

Simply Wall St -

Does Xinyi Glass Holdings Limited (HKG:868) Have A High Beta?

Anyone researching Xinyi Glass Holdings Limited (HKG:868) might want to consider the historical volatility of the share price. … The fact that this is well above 1 indicates that its share price movements have shown sensitivity to overall market volatility. … What this means for you: Beta only tells us that the Xinyi Glass Holdings share price is sensitive to broader market movements.

Simply Wall St -

Is Xinyi Glass Holdings Limited's (HKG:868) 23% ROE Better Than Average?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Xinyi Glass Holdings: 23% = HK$4.2b ÷ HK$19b (Based on the trailing twelve months to December 2018.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Xinyi Glass Holdings Have A Good ROE? … Combining Xinyi Glass Holdings's Debt And Its 23% Return On Equity While Xinyi Glass Holdings does have some debt, with debt to equity of just 0.53, we wouldn't say debt is excessive.

Simply Wall St -

Is Xinyi Glass Holdings Limited's (HKG:868) 23% ROE Better Than Average?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows Xinyi Glass Holdings has a return on equity of 23% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

A Look At The Fair Value Of Xinyi Glass Holdings Limited (HKG:868)

We generally believe that a company's value is the present value of all of the cash it will generate in the future. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model? … We're using the 2-stage growth model, which simply means we take in account two stages of company's growth

Simply Wall St -

Should Xinyi Glass Holdings Limited (HKG:868) Be Part Of Your Dividend Portfolio?

On the other hand, investors have been known to buy a stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations.. … With Xinyi Glass Holdings yielding 5.4% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1

Simply Wall St -

Should You Like Xinyi Glass Holdings Limited’s (HKG:868) High Return On Capital Employed?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Stocks Take A Hit: How Will Xinyi Glass Holdings Limited (HKG:868) Fare?

Xinyi Glass Holdings Limited is a financially healthy and robust stock with a proven track record of outperformance. … We all know Xinyi Glass Holdings, and having this large-cap to cushion your portfolio during a volatile period in the stock market isn't a bad idea. … Xinyi Glass Holdings Limited, an investment holding company, produces and sells automobile, construction, float, and other glass products for commercial and industrial applications

Simply Wall St -

Is Xinyi Glass Holdings Limited's (HKG:868) CEO Salary Justified?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Ching Sai Tung's Compensation Compare With Similar Sized Companies. … Our data indicates that Xinyi Glass Holdings Limited is worth HK$36b, and total annual CEO compensation is HK$31m.

Simply Wall St -

Why Xinyi Glass Holdings Limited (HKG:868) Could Be Your Next Investment

I've been keeping an eye on Xinyi Glass Holdings Limited (HKG:868) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe 868 has a lot to offer. … , dividend-paying company with a

Simply Wall St -

Company Info

Description

Xinyi Glass Holdings Limited, an investment holding company, produces and sells automobile, construction, float, and other glass products for commercial and industrial applications. The company operates through three segments: Float Glass, Automobile Glass, and Architectural Glass. It is also involved in the production and sale of automobile rubber and plastic components, as well as electronic glass; trading of automobile glass; and research and trading of glass. In addition, the company offers logistic and related services; supply chain services; operates a wind farm for electricity generation; and manufactures automatic machines for solar glass factory and other glass related industries, as well as holds properties and car parks. The company serves automobile glass manufacturing; wholesale and distribution; automobile repair; motor vehicle manufacturing; curtain wall engineering and installing; architectural and furniture glass manufacturing; electronic and household appliances manufacturing; and float glass wholesale and distribution companies. It sells its products in approximately 140 countries and territories, including the People's Republic of China, the United States, Hong Kong, Canada, Australia, and New Zealand, as well as countries in Asia, the Middle East, Europe, Africa, and Central and South America. The company was founded in 1988 and is based in Kwun Tong, Hong Kong.

Details
Name: Xinyi Glass Holdings Limited
868
Exchange: SEHK
Founded: 1988
HK$31,734,055,918
3,991,705,147
Website: http://www.xinyiglass.com
Address: Xinyi Glass Holdings Limited
Rykadan Capital Tower,
21st Floor,
Kwun Tong,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 868 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 03. Feb 2005
OTCPK XYIG.F Ordinary Shares Pink Sheets LLC US USD 03. Feb 2005
DB XI9 Ordinary Shares Deutsche Boerse AG DE EUR 03. Feb 2005
SHSC 868 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 03. Feb 2005
SZSC 868 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 03. Feb 2005
OTCPK XYIG.Y UNSPONSORED ADS Pink Sheets LLC US USD 06. Jan 2011
Number of employees
Current staff
Staff numbers
11,866
Xinyi Glass Holdings employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/15 12:50
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/12
Last earnings filing: 2019/04/09
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.