SEHK:868

Stock Analysis Report

Xinyi Glass Holdings

Executive Summary

Xinyi Glass Holdings Limited, an investment holding company, produces and sells automobile, construction, float, and other glass products for commercial and industrial applications.


Snowflake Analysis

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

Share Price & News

How has Xinyi Glass Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 868 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

5.0%

868

2.3%

HK Auto Components

4.0%

HK Market


1 Year Return

-1.1%

868

-38.0%

HK Auto Components

-20.3%

HK Market

Return vs Industry: 868 exceeded the Hong Kong Auto Components industry which returned -37.8% over the past year.

Return vs Market: 868 exceeded the Hong Kong Market which returned -20.1% over the past year.


Shareholder returns

868IndustryMarket
7 Day5.0%2.3%4.0%
30 Day-10.2%-21.4%-11.9%
90 Day-10.5%-24.0%-15.8%
1 Year5.5%-1.1%-35.8%-38.0%-17.4%-20.3%
3 Year54.9%30.1%-41.4%-45.7%-3.2%-13.0%
5 Year140.0%79.1%-13.4%-22.9%-7.4%-22.3%

Price Volatility Vs. Market

How volatile is Xinyi Glass Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Xinyi Glass Holdings undervalued compared to its fair value and its price relative to the market?

7.96x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 868 (HK$8.9) is trading above our estimate of fair value (HK$7.36)

Significantly Below Fair Value: 868 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 868 is good value based on its PE Ratio (8x) compared to the Auto Components industry average (8.9x).

PE vs Market: 868 is good value based on its PE Ratio (8x) compared to the Hong Kong market (9x).


Price to Earnings Growth Ratio

PEG Ratio: 868 is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: 868 is overvalued based on its PB Ratio (1.7x) compared to the HK Auto Components industry average (0.7x).


Next Steps

Future Growth

How is Xinyi Glass Holdings forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

7.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 868's forecast earnings growth (7.3% per year) is above the savings rate (1.6%).

Earnings vs Market: 868's earnings (7.3% per year) are forecast to grow slower than the Hong Kong market (12.8% per year).

High Growth Earnings: 868's earnings are forecast to grow, but not significantly.

Revenue vs Market: 868's revenue (8.7% per year) is forecast to grow slower than the Hong Kong market (9.1% per year).

High Growth Revenue: 868's revenue (8.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 868's Return on Equity is forecast to be high in 3 years time (20.2%)


Next Steps

Past Performance

How has Xinyi Glass Holdings performed over the past 5 years?

21.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 868 has high quality earnings.

Growing Profit Margin: 868's current net profit margins (27.5%) are higher than last year (26.5%).


Past Earnings Growth Analysis

Earnings Trend: 868's earnings have grown significantly by 21.3% per year over the past 5 years.

Accelerating Growth: 868's earnings growth over the past year (5.7%) is below its 5-year average (21.3% per year).

Earnings vs Industry: 868 earnings growth over the past year (5.7%) exceeded the Auto Components industry -18.1%.


Return on Equity

High ROE: 868's Return on Equity (21.4%) is considered high.


Next Steps

Financial Health

How is Xinyi Glass Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 868's short term assets (HK$10.3B) exceed its short term liabilities (HK$8.4B).

Long Term Liabilities: 868's short term assets (HK$10.3B) exceed its long term liabilities (HK$6.9B).


Debt to Equity History and Analysis

Debt Level: 868's debt to equity ratio (51.7%) is considered high.

Reducing Debt: 868's debt to equity ratio has increased from 48.7% to 51.7% over the past 5 years.

Debt Coverage: 868's debt is well covered by operating cash flow (36.7%).

Interest Coverage: 868's interest payments on its debt are well covered by EBIT (25.1x coverage).


Balance Sheet

Inventory Level: 868 has a high level of physical assets or inventory.

Debt Coverage by Assets: 868's debt is not covered by short term assets (assets are 1x debt).


Next Steps

Dividend

What is Xinyi Glass Holdings's current dividend yield, its reliability and sustainability?

6.18%

Current Dividend Yield


Upcoming Dividend Payment

TodayMar 29 2020Ex Dividend DateJun 04 2020Dividend Pay DateJul 07 202033 days from Ex DividendBuy in the next 67 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: 868's dividend (6.18%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.67%).

High Dividend: 868's dividend (6.18%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.33%).


Stability and Growth of Payments

Stable Dividend: 868's dividend payments have been volatile in the past 10 years.

Growing Dividend: 868's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49.2%), 868's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 868's dividends in 3 years are forecast to be covered by earnings (53.6% payout ratio).


Next Steps

Management

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

15.7yrs

Average board tenure


CEO

Ching Sai Tung (53yo)

no data

Tenure

HK$31,945,000

Compensation

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 Holdi ...


CEO Compensation Analysis

Compensation vs Market: Ching Sai's total compensation ($USD4.12M) is above average for companies of similar size in the Hong Kong market ($USD509.49K).

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


Board Members

NamePositionTenureCompensationOwnership
Yin Yee Lee
Founder & Chairmanno dataHK$23.24m27.88% HK$10.0b
Ching Sai Tung
CEO & Executive Directorno dataHK$31.95m9.53% HK$3.4b
Ching Bor Tung
Vice Chairman & Chief Purchasing Officerno dataHK$13.26m7.59% HK$2.7b
Shing Lee
Executive Director11.42yrsHK$12.72mno data
Kwong Siu Lam
Independent Non-Executive Director15.58yrsHK$300.00kno data
Chat Wong
Independent Non Executive Director15.58yrsHK$300.00kno data
Nang Sze Sze
Non-Executive Director15.75yrsHK$300.00k2.92% HK$1.0b
Ngan Ho Ng
Non-Executive Director15.75yrsHK$300.00k2.02% HK$720.5m
Ching Wai Li
Non-Executive Director15.75yrsHK$300.00k3.03% HK$1.1b
Ching Leung Li
Non-Executive Director15.58yrsHK$300.00k2.09% HK$745.4m

15.7yrs

Average Tenure

61yo

Average Age

Experienced Board: 868's board of directors are seasoned and experienced ( 15.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Xinyi Glass Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Xinyi Glass Holdings Limited
  • Ticker: 868
  • Exchange: SEHK
  • Founded: 1988
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: HK$35.740b
  • Shares outstanding: 4.02b
  • Website: https://www.xinyiglass.com

Number of Employees


Location

  • Xinyi Glass Holdings Limited
  • Rykadan Capital Tower
  • 21st Floor
  • Kwun Tong
  • Kowloon
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
868SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDFeb 2005
XYIG.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDFeb 2005
XI9DB (Deutsche Boerse AG)YesOrdinary SharesDEEURFeb 2005
868SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDFeb 2005
868SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDFeb 2005
XYIG.YOTCPK (Pink Sheets LLC)UNSPONSORED ADSUSUSDJan 2011

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/28 13:07
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.