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819

Tianneng Power International SZSC:819 Stock Report

Last Price

HK$9.21

Market Cap

HK$10.4b

7D

-0.9%

1Y

-42.4%

Updated

01 Aug, 2022

Data

Company Financials +
819 fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance2/6
Financial Health6/6
Dividends3/6

819 Stock Overview

Tianneng Power International Limited, an investment holding company, engages in the production of motive batteries in the People’s Republic of China and internationally.

Tianneng Power International Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Tianneng Power International
Historical stock prices
Current Share PriceHK$9.21
52 Week HighHK$16.42
52 Week LowHK$5.50
Beta0.95
1 Month Change8.48%
3 Month Change38.91%
1 Year Change-42.44%
3 Year Change54.53%
5 Year Change51.48%
Change since IPO25.48%

Recent News & Updates

Shareholder Returns

819HK Auto ComponentsHK Market
7D-0.9%1.2%-1.9%
1Y-42.4%-28.3%-21.1%

Return vs Industry: 819 underperformed the Hong Kong Auto Components industry which returned -26.9% over the past year.

Return vs Market: 819 underperformed the Hong Kong Market which returned -19.9% over the past year.

Price Volatility

Is 819's price volatile compared to industry and market?
819 volatility
819 Average Weekly Movement7.1%
Auto Components Industry Average Movement8.1%
Market Average Movement6.6%
10% most volatile stocks in HK Market13.2%
10% least volatile stocks in HK Market3.1%

Stable Share Price: 819 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 819's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198625,618Tianren Zhanghttps://www.tianneng.com.hk

Tianneng Power International Limited, an investment holding company, engages in the production of motive batteries in the People’s Republic of China and internationally. It operates in two segments, Sales of Batteries and Battery Related Accessories; and Trading of New Energy Materials. The company offers high-end eco-friendly batteries, such as two and three wheeled electric vehicle, start-stop, energy storage and backup, mini electric vehicle, and special electric vehicle batteries; new energy batteries, including lithium-ion and fuel cell batteries; and renewable new materials.

Tianneng Power International Fundamentals Summary

How do Tianneng Power International's earnings and revenue compare to its market cap?
819 fundamental statistics
Market CapCN¥8.91b
Earnings (TTM)CN¥1.30b
Revenue (TTM)CN¥85.62b

6.9x

P/E Ratio

0.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
819 income statement (TTM)
RevenueCN¥85.62b
Cost of RevenueCN¥81.00b
Gross ProfitCN¥4.62b
Other ExpensesCN¥3.32b
EarningsCN¥1.30b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.15
Gross Margin5.40%
Net Profit Margin1.52%
Debt/Equity Ratio27.9%

How did 819 perform over the long term?

See historical performance and comparison

Dividends

4.1%

Current Dividend Yield

28%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 819 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 819?

Other financial metrics that can be useful for relative valuation.

819 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.05x
Enterprise Value/EBITDA2.6x
PEG Ratio0.3x

Price to Earnings Ratio vs Peers

How does 819's PE Ratio compare to its peers?

819 PE Ratio vs Peers
The above table shows the PE ratio for 819 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average51.8x
1760 Intron Technology Holdings
33x16.7%HK$7.7b
179 Johnson Electric Holdings
7.3x4.7%HK$8.4b
1057 Zhejiang Shibao
149.5xn/aHK$7.9b
1316 Nexteer Automotive Group
17.2x27.4%HK$16.0b
819 Tianneng Power International
6.9x24.1%HK$10.4b

Price-To-Earnings vs Peers: 819 is good value based on its Price-To-Earnings Ratio (6.9x) compared to the peer average (51.8x).


Price to Earnings Ratio vs Industry

How does 819's PE Ratio compare vs other companies in the Asian Auto Components Industry?

Price-To-Earnings vs Industry: 819 is good value based on its Price-To-Earnings Ratio (6.9x) compared to the Hong Kong Auto Components industry average (14x)


Price to Earnings Ratio vs Fair Ratio

What is 819's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

819 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.9x
Fair PE Ratio10.9x

Price-To-Earnings vs Fair Ratio: 819 is good value based on its Price-To-Earnings Ratio (6.9x) compared to the estimated Fair Price-To-Earnings Ratio (10.9x).


Share Price vs Fair Value

What is the Fair Price of 819 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 819 (HK$9.21) is trading below our estimate of fair value (HK$39.34)

Significantly Below Fair Value: 819 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Tianneng Power International forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


24.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 819's forecast earnings growth (24.1% per year) is above the savings rate (1.6%).

Earnings vs Market: 819's earnings (24.1% per year) are forecast to grow faster than the Hong Kong market (16.3% per year).

High Growth Earnings: 819's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 819's revenue (6.9% per year) is forecast to grow slower than the Hong Kong market (10% per year).

High Growth Revenue: 819's revenue (6.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 819's Return on Equity is forecast to be low in 3 years time (13.1%).


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Past Performance

How has Tianneng Power International performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


17.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 819 has high quality earnings.

Growing Profit Margin: 819's current net profit margins (1.5%) are lower than last year (4.6%).


Past Earnings Growth Analysis

Earnings Trend: 819's earnings have grown by 17.9% per year over the past 5 years.

Accelerating Growth: 819's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 819 had negative earnings growth (-47.5%) over the past year, making it difficult to compare to the Auto Components industry average (-29.7%).


Return on Equity

High ROE: 819's Return on Equity (10.1%) is considered low.


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Financial Health

How is Tianneng Power International's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 819's short term assets (CN¥23.1B) exceed its short term liabilities (CN¥15.3B).

Long Term Liabilities: 819's short term assets (CN¥23.1B) exceed its long term liabilities (CN¥2.1B).


Debt to Equity History and Analysis

Debt Level: 819 has more cash than its total debt.

Reducing Debt: 819's debt to equity ratio has reduced from 48.8% to 27.9% over the past 5 years.

Debt Coverage: 819's debt is well covered by operating cash flow (49.2%).

Interest Coverage: 819's interest payments on its debt are well covered by EBIT (40.9x coverage).


Balance Sheet


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Dividend

What is Tianneng Power International current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


4.11%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 819's dividend (4.11%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.82%).

High Dividend: 819's dividend (4.11%) is low compared to the top 25% of dividend payers in the Hong Kong market (8.14%).


Stability and Growth of Payments

Stable Dividend: 819's dividend payments have been volatile in the past 10 years.

Growing Dividend: 819's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (28.2%), 819's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (464.9%), 819's dividend payments are not well covered by cash flows.


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Management

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

12.8yrs

Average management tenure


CEO

Tianren Zhang (59 yo)

no data

Tenure

CN¥1,560,000

Compensation

Dr. Zhang Tianren is the Founder of Tianneng Power International Limited and serves as its Chairman, President and Chief Executive Officer. Dr. Zhang has been the Chairman and General Manager of Tianneng B...


CEO Compensation Analysis

Compensation vs Market: Tianren's total compensation ($USD231.30K) is below average for companies of similar size in the Hong Kong market ($USD534.86K).

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


Leadership Team

Experienced Management: 819's management team is seasoned and experienced (12.8 years average tenure).


Board Members

Experienced Board: 819's board of directors are considered experienced (5.6 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

Tianneng Power International Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Tianneng Power International Limited
  • Ticker: 819
  • Exchange: SZSC
  • Founded: 1986
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Implied Market Cap: HK$10.372b
  • Shares outstanding: 1.13b
  • Website: https://www.tianneng.com.hk

Number of Employees


Location

  • Tianneng Power International Limited
  • Central Plaza
  • 32nd Floor
  • Wan Chai
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/01 00:00
End of Day Share Price2022/07/29 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.