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Chaowei Power Holdings

SEHK:951
Snowflake Description

Good value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
951
SEHK
HK$3B
Market Cap
  1. Home
  2. HK
  3. Automobiles
Company description

Chaowei Power Holdings Limited, together with its subsidiaries, manufactures and sells lead-acid motive batteries and other related products for electric bikes and vehicles, special-purpose electric vehicles, etc. The last earnings update was 81 days ago. More info.


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951 Share Price and Events
7 Day Returns
3.9%
SEHK:951
-1.3%
HK Auto Components
0.6%
HK Market
1 Year Returns
-18.9%
SEHK:951
-25.2%
HK Auto Components
-5.9%
HK Market
951 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chaowei Power Holdings (951) 3.9% 9.9% -10.6% -18.9% -36% -27.5%
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
  • 951 outperformed the Auto Components industry which returned -25.2% over the past year.
  • 951 underperformed the Market in Hong Kong which returned -5.9% over the past year.
Price Volatility
951
Industry
5yr Volatility vs Market

Value

 Is Chaowei Power 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 Chaowei Power 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 Chaowei Power Holdings.

SEHK:951 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.9%
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:951
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
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%) (212.55%))
2.539
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (2 * 5.96%)
13.92%

Discounted Cash Flow Calculation for SEHK:951 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Chaowei Power 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:951 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 13.92%)
2020 392.00 Analyst x1 344.09
2021 408.00 Analyst x1 314.37
2022 457.00 Analyst x1 309.09
2023 510.00 Analyst x1 302.78
2024 545.65 Est @ 6.99% 284.35
2025 575.64 Est @ 5.49% 263.32
2026 601.24 Est @ 4.45% 241.42
2027 623.57 Est @ 3.71% 219.78
2028 643.52 Est @ 3.2% 199.10
2029 661.81 Est @ 2.84% 179.73
Present value of next 10 years cash flows CN¥2,658.02
SEHK:951 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥661.81 × (1 + 2%) ÷ (13.92% – 2%)
CN¥5,663.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥5,663.29 ÷ (1 + 13.92%)10
CN¥1,537.99
SEHK:951 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥2,658.02 + CN¥1,537.99
CN¥4,196.01
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥4,196.01 / 1,104.13
CN¥3.8
SEHK:951 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:951)
1.138
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥3.8 x 1.138
HK$4.32
Value per share (HKD) From above. HK$4.32
Current discount Discount to share price of HK$3.22
= -1 x (HK$3.22 - HK$4.32) / HK$4.32
25.5%

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

Current Discount
Amount off the current price Chaowei Power Holdings is available for.
Intrinsic value
26%
Share price is HK$3.22 vs Future cash flow value of HK$4.32
Current Discount Checks
For Chaowei Power Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Chaowei Power Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Chaowei Power 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 Chaowei Power Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chaowei Power Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:951 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.37
SEHK:951 Share Price ** SEHK (2019-07-16) in HKD HK$3.22
SEHK:951 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥2.83
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 Chaowei Power Holdings.

SEHK:951 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:951 Share Price ÷ EPS (both in CNY)

= 2.83 ÷ 0.37

7.6x

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

  • Chaowei Power Holdings is good value based on earnings compared to the HK Auto Components industry average.
  • Chaowei Power Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Chaowei Power Holdings's expected growth come at a high price?
Raw Data
SEHK:951 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-3.2%per year
Hong Kong Auto Components Industry PEG Ratio Median Figure of 7 Publicly-Listed Auto Components Companies 0.6x
Hong Kong Market PEG Ratio Median Figure of 477 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

SEHK:951 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.6x ÷ -3.2%

-2.38x

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

  • Chaowei Power Holdings earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Chaowei Power Holdings's assets?
Raw Data
SEHK:951 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥3.61
SEHK:951 Share Price * SEHK (2019-07-16) in HKD HK$3.22
SEHK:951 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥2.83
Hong Kong Auto Components Industry PB Ratio Median Figure of 26 Publicly-Listed Auto Components Companies 1.37x
Hong Kong Market PB Ratio Median Figure of 2,190 Publicly-Listed Companies 0.92x
SEHK:951 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:951 Share Price ÷ Book Value per Share (both in CNY)

= 2.83 ÷ 3.61

0.78x

* Primary Listing of Chaowei Power Holdings.

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

  • Chaowei Power Holdings is good value based on assets compared to the HK Auto Components industry average.
X
Value checks
We assess Chaowei Power 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. Chaowei Power Holdings has a total score of 4/6, 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 Chaowei Power Holdings expected to perform in the next 1 to 3 years based on estimates from 3 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
-3.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chaowei Power Holdings expected to grow at an attractive rate?
  • Chaowei Power Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2%.
Growth vs Market Checks
  • Chaowei Power Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • Chaowei Power Holdings's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:951 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:951 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -3.2%
SEHK:951 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 2.4%
Hong Kong Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
SEHK:951 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:951 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 28,581 -280 360 2
2020-12-31 29,549 1,821 402 3
2019-12-31 28,098 -437 382 3
SEHK:951 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 26,948 2,992 413
2018-09-30 27,430 2,024 344
2018-06-30 27,911 1,055 276
2018-03-31 26,283 816 365
2017-12-31 24,654 577 455
2017-09-30 23,380 196 465
2017-06-30 22,105 -184 474
2017-03-31 21,780 -64 489
2016-12-31 21,455 55 504
2016-09-30 20,698 610 504
2016-06-30 19,942 1,165 505
2016-03-31 19,406 1,363 418

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Chaowei Power Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Chaowei Power Holdings's revenue is expected to grow by 2.4% 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:951 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 3 Analyst Estimates (S&P Global) See Below

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

SEHK:951 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.32 0.44 0.21 2.00
2020-12-31 0.36 0.46 0.21 3.00
2019-12-31 0.35 0.41 0.22 3.00
SEHK:951 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.37
2018-09-30 0.31
2018-06-30 0.25
2018-03-31 0.33
2017-12-31 0.41
2017-09-30 0.42
2017-06-30 0.44
2017-03-31 0.46
2016-12-31 0.48
2016-09-30 0.49
2016-06-30 0.49
2016-03-31 0.41

*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.
  • Chaowei Power Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Chaowei Power 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.
Chaowei Power Holdings has a total score of 0/6, 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 Chaowei Power 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 Chaowei Power 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.
  • Chaowei Power Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Chaowei Power Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Chaowei Power Holdings's 1-year earnings growth is negative, it can't be compared to the HK Auto Components industry average.
Earnings and Revenue History
Chaowei Power 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 Chaowei Power Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:951 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 26,948.24 412.71 1,623.68 884.91
2018-09-30 27,429.82 344.33 1,597.17 879.50
2018-06-30 27,911.40 275.94 1,487.98 874.09
2018-03-31 26,282.71 365.38 1,459.53 824.97
2017-12-31 24,654.01 454.82 1,513.77 775.85
2017-09-30 23,379.69 464.56 1,397.05 724.28
2017-06-30 22,105.37 474.31 1,280.33 672.72
2017-03-31 21,780.06 489.05 1,231.29 624.80
2016-12-31 21,454.76 503.80 1,182.26 576.89
2016-09-30 20,698.42 504.46 1,237.66 536.48
2016-06-30 19,942.09 505.13 1,293.06 496.08
2016-03-31 19,406.15 418.40 1,339.87 485.63
2015-12-31 18,870.21 331.67 1,386.68 475.19
2015-09-30 18,570.33 157.44 1,376.32 445.51
2015-06-30 18,270.46 -16.79 1,365.96 415.83
2015-03-31 18,228.76 -22.87 1,399.50 416.45
2014-12-31 18,187.06 -28.96 1,433.05 417.06
2014-09-30 17,508.65 95.13 1,369.84 419.12
2014-06-30 16,830.24 219.22 1,306.64 421.19
2014-03-31 15,901.73 264.73 1,154.79 409.58
2013-12-31 14,973.22 310.24 1,002.93 397.97
2013-09-30 13,387.31 350.28 919.49 370.80
2013-06-30 11,801.39 390.32 836.05 343.62
2013-03-31 10,680.41 443.32 786.02 329.03
2012-12-31 9,559.44 496.33 736.00 314.45
2012-09-30 8,380.45 565.98 614.56 292.86

*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.
  • Chaowei Power Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chaowei Power Holdings used its assets less efficiently than the HK Auto Components industry average last year based on Return on Assets.
  • Chaowei Power Holdings's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Chaowei Power 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.
Chaowei Power Holdings has a total score of 1/6, 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 Chaowei Power 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 Chaowei Power Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chaowei Power Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Chaowei Power Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Chaowei Power 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 covered by short term assets, assets are 1.6x 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 Chaowei Power Holdings Company Filings, last reported 6 months ago.

SEHK:951 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,928.83 6,516.40 3,041.93
2018-09-30 4,928.83 6,516.40 3,041.93
2018-06-30 4,735.78 7,339.73 3,959.27
2018-03-31 4,735.78 7,339.73 3,959.27
2017-12-31 4,687.44 6,260.55 1,503.64
2017-09-30 4,687.44 6,260.55 1,503.64
2017-06-30 4,226.70 5,371.49 1,534.35
2017-03-31 4,226.70 5,371.49 1,534.35
2016-12-31 4,151.42 3,525.77 590.62
2016-09-30 4,151.42 3,525.77 590.62
2016-06-30 3,541.20 3,568.85 1,092.70
2016-03-31 3,541.20 3,568.85 1,092.70
2015-12-31 3,315.53 3,059.50 960.96
2015-09-30 3,315.53 3,059.50 960.96
2015-06-30 3,055.24 3,528.37 930.79
2015-03-31 3,055.24 3,528.37 930.79
2014-12-31 2,781.33 3,830.96 1,033.99
2014-09-30 2,781.33 3,830.96 1,033.99
2014-06-30 2,920.75 3,629.19 908.75
2014-03-31 2,920.75 3,629.19 908.75
2013-12-31 2,847.41 2,904.37 1,128.96
2013-09-30 2,847.41 2,904.37 1,128.96
2013-06-30 2,704.49 2,609.16 617.53
2013-03-31 2,704.49 2,609.16 617.53
2012-12-31 2,626.19 2,311.94 928.22
2012-09-30 2,626.19 2,311.94 928.22
  • Chaowei Power Holdings's level of debt (132.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (102.3% vs 132.2% today).
  • Debt is well covered by operating cash flow (45.9%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Chaowei Power 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. Chaowei Power Holdings has a total score of 3/6, 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 Chaowei Power 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
2%
Current annual income from Chaowei Power Holdings dividends. Estimated to be 2.26% next year.
If you bought HK$2,000 of Chaowei Power Holdings shares you are expected to receive HK$40 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?
  • Chaowei Power Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Chaowei Power Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:951 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 3 Analyst Estimates (S&P Global) See Below
Hong Kong Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.2%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 978 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

SEHK:951 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.07 1.00
2020-12-31 0.07 2.00
2019-12-31 0.06 2.00
SEHK:951 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-26 0.057 2.128
2018-05-28 0.062 2.065
2017-04-27 0.068 1.834
2016-04-25 0.097 1.911
2015-09-23 0.000 0.000
2015-08-31 0.000 0.000
2015-03-31 0.000 0.000
2014-04-16 0.093 2.976
2013-03-25 0.148 5.336
2012-04-30 0.136 4.189
2012-03-01 0.136 4.244
2011-03-29 0.080 2.982

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

  • Chaowei Power Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Chaowei Power Holdings has only been paying a dividend for 8 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Chaowei Power Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (6.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.6x coverage).
X
Income/ dividend checks
We assess Chaowei Power 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 Chaowei Power Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chaowei Power Holdings has a total score of 2/6, 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 Chaowei Power 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
Mingming Zhou
COMPENSATION CN¥1,550,000
AGE 50
CEO Bio

Mr. Mingming Zhou serves as the Chairman of the Board and Chief Executive Officer of Chaowei Power Holdings Limited. Mr. Zhou is the founder of Chaowei Power Holdings Limited. Mr. Zhou is mainly responsible for overall strategy planning and investment decisions at Chaowei Power Holdings. Mr. Zhou has over 15 years of experience in the lead-acid battery industry. Mr. Zhou received a bachelor degree in chemistry from Hangzhou Normal University in July 1990.

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

Mingming Zhou

TITLE
Chairman & CEO
COMPENSATION
CN¥2M
AGE
50

Yunfei Yang

TITLE
Executive Director
COMPENSATION
CN¥693K
AGE
76

Longrui Zhou

TITLE
Executive Director
COMPENSATION
CN¥693K
AGE
80

Xinxin Yang

TITLE
Executive Director
COMPENSATION
CN¥2M
AGE
52

Wai Yip Leung

TITLE
CFO & Company Secretary
AGE
43
TENURE
8.6 yrs

Jingning Chen

TITLE
Head of New Energy Division & Investment Director
AGE
45

Xuexiang Pan

TITLE
Marketing Director
AGE
44

Tixian Chen

TITLE
Head of Research & Development Department
AGE
80
TENURE
15.3 yrs

Shunrong Qian

TITLE
Head of Production Department
AGE
49
Board of Directors Tenure

Average tenure and age of the Chaowei Power Holdings board of directors in years:

7.9
Average Tenure
61
Average Age
  • The tenure for the Chaowei Power Holdings board of directors is about average.
Board of Directors

Mingming Zhou

TITLE
Chairman & CEO
COMPENSATION
CN¥2M
AGE
50

Yunfei Yang

TITLE
Executive Director
COMPENSATION
CN¥693K
AGE
76

Longrui Zhou

TITLE
Executive Director
COMPENSATION
CN¥693K
AGE
80

Xinxin Yang

TITLE
Executive Director
COMPENSATION
CN¥2M
AGE
52
TENURE
7.9 yrs

Conway Lee

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥513K
AGE
65

Jiqiang Wang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥513K
AGE
79

Minggao Ouyang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥513K
AGE
61

Chi Ng

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥513K
AGE
45
TENURE
8.6 yrs

Jianjun Fang

TITLE
Non-Executive Director
COMPENSATION
CN¥684K
AGE
50
TENURE
5.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
05. Jul 19 Sell FIL Limited Company 02. Jul 19 02. Jul 19 -681,000 HK$2.99 HK$-2,039,460
08. May 19 Sell FIL Limited Company 03. May 19 03. May 19 -146,000 HK$3.60 HK$-525,074
21. Mar 19 Sell FIL Limited Company 18. Mar 19 18. Mar 19 -1,333,000 HK$2.98 HK$-3,977,805
13. Mar 19 Sell FMR LLC Company 08. Mar 19 08. Mar 19 -611,000 HK$3.15 HK$-1,927,214
11. Oct 18 Buy FMR LLC Company 08. Oct 18 08. Oct 18 287,000 HK$3.50 HK$1,004,788
X
Management checks
We assess Chaowei Power 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. Chaowei Power 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

Is Chaowei Power Holdings Limited (HKG:951) Investing Your Capital Efficiently?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Is Analysts' Sentiment For Chaowei Power Holdings Limited's (HKG:951) Justified?

Chaowei Power Holdings Limited (HKG:951) continues to post impressive revenue growth and its prospects have never been brighter. … I will conduct a high level fundamental analysis on the company by looking at its past financials and growth prospects moving forward. … Chaowei Power Holdings Limited, together with its subsidiaries, manufactures and sells lead-acid motive batteries and other related products for electric bikes and vehicles, special-purpose electric vehicles, etc.

Simply Wall St -

Is It The Right Time To Buy Chaowei Power Holdings Limited (HKG:951)?

Chaowei Power Holdings Limited (HKG:951), a auto components company based in China,. … A question to answer is whether Chaowei Power Holdings's current trading price of HK$3.88 reflective of the actual value of the? … Let’s take a look at Chaowei Power Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

What Should You Know About Chaowei Power Holdings Limited's (HKG:951) Return On Capital?

and looking to gauge the potential return on investment in Chaowei Power Holdings Limited (HKG:951). … Thus, to understand how your money can grow by investing in Chaowei Power Holdings, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE) … Chaowei Power Holdings's Return On Capital Employed

Simply Wall St -

Is Chaowei Power Holdings Limited (HKG:951) An Industry Laggard Or Leader?

is an automobile company operating in an industry. … New opportunities driving future growth in the auto sector is connected and intelligent cars, in particular, web networking, sensors and software, which is not the traditional focus for most automobile companies … Shortcomings of well-established auto companies provides an opportunity for technology firms such as Alphabet and Apple to create their own software underlying autonomous and communication capabilities of automobiles

Simply Wall St -

Chaowei Power Holdings Limited (HKG:951): What Can We Expect From Future Profit Margins?

Chaowei Power Holdings Limited (HKG:951) to … earnings growth of 12.05% annualised … it's important to take a step back

Simply Wall St -

2 Days Left To Chaowei Power Holdings Limited (HKG:951)’s Ex-Dividend Date, Should Investors Buy?

Shares of Chaowei Power Holdings Limited (HKG:951) will begin trading ex-dividend in 2 days. … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … Let's take a look at Chaowei Power Holdings's most recent financial data to examine its dividend characteristics in more detail.

Simply Wall St -

What does Chaowei Power Holdings Limited's (HKG:951) Balance Sheet Tell Us About Its Future?

Chaowei Power Holdings Limited (HKG:951) is a small-cap stock with a market capitalization of HK$4.63b. … 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. … Assessing first and foremost the financial health is

Simply Wall St -

Interested In Chaowei Power Holdings Limited (HKG:951)? Here's How It Performed Recently

Below, I will examine Chaowei Power Holdings Limited's (HKG:951) track record on a high level, to give you some insight into how the company has been performing against its long term trend and its industry peers. … View out our latest analysis for Chaowei Power Holdings? … Did 951 perform worse than its track record and industry.

Simply Wall St -

Company Info

Description

Chaowei Power Holdings Limited, together with its subsidiaries, manufactures and sells lead-acid motive batteries and other related products for electric bikes and vehicles, special-purpose electric vehicles, etc. in the People’s Republic of China. The company also manufactures and sells storage batteries and materials, and lithium-ion batteries, as well as other related products; and electrode plate dividing papers and plastic battery cases. In addition, it is involved in the technical service of new energy vehicles; and property investment activities. Further, the company engages in the research and development of solar energy generating systems, and durathon batteries; and recycling of lead-acid battery and lead production. As of December 31, 2018, the company sold its products under the CHILWEE and JINCHAOWEI brand names through a network of 2,558 independent distributors. Chaowei Power Holdings Limited was founded in 1998 and is headquartered in Changxing, the People’s Republic of China.

Details
Name: Chaowei Power Holdings Limited
951
Exchange: SEHK
Founded: 1998
HK$3,489,041,253
1,104,126,979
Website: http://www.chaowei.com.hk
Address: Chaowei Power Holdings Limited
No. 18, Chengnan Road,
Huaxi Industrial Function Area,
Changxing,
Zhejiang Province, 313100,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 951 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 07. Jul 2010
BST EWC Ordinary Shares Boerse-Stuttgart DE EUR 07. Jul 2010
Number of employees
Current staff
Staff numbers
16,353
Chaowei Power Holdings employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 12:56
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/07/14
Last earnings filing: 2019/04/26
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.