Loading...

Grand Ming Group Holdings

SEHK:1271
Snowflake Description

Imperfect balance sheet with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1271
SEHK
HK$3B
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Grand Ming Group Holdings Limited, an investment holding company, engages in the building construction, property leasing, and property development businesses in Hong Kong. The last earnings update was 23 days ago. More info.


Add to Portfolio Compare Print
1271 Share Price and Events
7 Day Returns
0%
SEHK:1271
0.1%
HK Construction
1%
HK Market
1 Year Returns
-3.5%
SEHK:1271
-11.4%
HK Construction
-4.7%
HK Market
1271 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Grand Ming Group Holdings (1271) 0% 0% -1.5% -3.5% 16.1% 105.2%
HK Construction 0.1% -3.5% -13.6% -11.4% -21.4% -4.6%
HK Market 1% 3.9% -7.8% -4.7% 17.5% 2%
1 Year Return vs Industry and Market
  • 1271 outperformed the Construction industry which returned -11.4% over the past year.
  • 1271 outperformed the Market in Hong Kong which returned -4.7% over the past year.
Price Volatility
1271
Industry
5yr Volatility vs Market

1271 Value

 Is Grand Ming Group 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 Grand Ming Group 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 Grand Ming Group Holdings.

SEHK:1271 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 13%
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:1271
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Construction Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.039 (1 + (1- 25%) (118.86%))
1.646
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.65
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.646 * 6.65%)
12.95%

Discounted Cash Flow Calculation for SEHK:1271 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Grand Ming Group 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:1271 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 12.95%)
2020 159.16 Est @ 57.55% 140.91
2021 224.23 Est @ 40.88% 175.76
2022 289.75 Est @ 29.22% 201.07
2023 350.75 Est @ 21.05% 215.50
2024 404.55 Est @ 15.34% 220.06
2025 450.42 Est @ 11.34% 216.92
2026 488.88 Est @ 8.54% 208.44
2027 521.03 Est @ 6.58% 196.68
2028 548.15 Est @ 5.21% 183.20
2029 571.42 Est @ 4.24% 169.08
Present value of next 10 years cash flows HK$1,927.62
SEHK:1271 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$571.42 × (1 + 2%) ÷ (12.95% – 2%)
HK$5,324.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$5,324.32 ÷ (1 + 12.95%)10
HK$1,575.41
SEHK:1271 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$1,927.62 + HK$1,575.41
HK$3,503.04
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$3,503.04 / 709.77
HK$4.94
SEHK:1271 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$4.94
Current discount Discount to share price of HK$4.75
= -1 x (HK$4.75 - HK$4.94) / HK$4.94
3.8%

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

Current Discount
Amount off the current price Grand Ming Group Holdings is available for.
Intrinsic value
4%
Share price is HK$4.75 vs Future cash flow value of HK$4.94
Current Discount Checks
For Grand Ming Group Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Grand Ming Group Holdings's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Grand Ming Group 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 Grand Ming Group Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Grand Ming Group Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1271 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in HKD HK$0.21
SEHK:1271 Share Price ** SEHK (2019-07-18) in HKD HK$4.75
Hong Kong Construction Industry PE Ratio Median Figure of 105 Publicly-Listed Construction Companies 10.17x
Hong Kong Market PE Ratio Median Figure of 1,510 Publicly-Listed Companies 10.82x

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

** Primary Listing of Grand Ming Group Holdings.

SEHK:1271 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1271 Share Price ÷ EPS (both in HKD)

= 4.75 ÷ 0.21

22.63x

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

  • Grand Ming Group Holdings is overvalued based on earnings compared to the HK Construction industry average.
  • Grand Ming Group Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Grand Ming Group Holdings's expected growth come at a high price?
Raw Data
SEHK:1271 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.63x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
16.8%per year
Hong Kong Construction Industry PEG Ratio Median Figure of 10 Publicly-Listed Construction Companies 0.56x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Grand Ming Group Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Grand Ming Group Holdings's assets?
Raw Data
SEHK:1271 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in HKD HK$3.97
SEHK:1271 Share Price * SEHK (2019-07-18) in HKD HK$4.75
Hong Kong Construction Industry PB Ratio Median Figure of 136 Publicly-Listed Construction Companies 1.34x
Hong Kong Market PB Ratio Median Figure of 2,197 Publicly-Listed Companies 0.92x
SEHK:1271 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1271 Share Price ÷ Book Value per Share (both in HKD)

= 4.75 ÷ 3.97

1.2x

* Primary Listing of Grand Ming Group Holdings.

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

  • Grand Ming Group Holdings is good value based on assets compared to the HK Construction industry average.
X
Value checks
We assess Grand Ming Group 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 Construction 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 Construction industry average (and greater than 0)? (1 check)
  5. Grand Ming Group Holdings has a total score of 1/6, 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.

1271 Future Performance

 How is Grand Ming Group Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Grand Ming Group Holdings, future earnings growth has been estimated based on fundamentals.
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
16.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Grand Ming Group Holdings expected to grow at an attractive rate?
  • Grand Ming Group Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Grand Ming Group Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare Grand Ming Group Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1271 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1271 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 16.8%
Hong Kong Construction Industry Earnings Growth Rate Market Cap Weighted Average 11.9%
Hong Kong Construction Industry Revenue Growth Rate Market Cap Weighted Average 9.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average -5.2%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 13.5%

*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:1271 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1271 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-03-31 613 107 149
2018-12-31 747 -305 150
2018-09-30 881 -717 152
2018-06-30 1,152 -754 162
2018-03-31 1,424 -792 172
2017-12-31 1,390 -371 160
2017-09-30 1,356 50 149
2017-06-30 1,206 -396 176
2017-03-31 1,056 -842 203
2016-12-31 1,024 -808 244
2016-09-30 993 -773 285
2016-06-30 980 -278 344

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Grand Ming Group Holdings's earnings are expected to grow by 16.8% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Grand Ming Group Holdings is high growth as no revenue estimate data is available.
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:1271 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Grand Ming Group Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1271 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-03-31 0.21
2018-12-31 0.21
2018-09-30 0.21
2018-06-30 0.23
2018-03-31 0.24
2017-12-31 0.23
2017-09-30 0.21
2017-06-30 0.25
2017-03-31 0.29
2016-12-31 0.34
2016-09-30 0.40
2016-06-30 0.48

*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.
  • Unable to establish if Grand Ming Group Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Grand Ming Group 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.
Grand Ming Group Holdings has a total score of 2/6, 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.

1271 Past Performance

  How has Grand Ming Group 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 Grand Ming Group Holdings's growth in the last year to its industry (Construction).
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.
  • Grand Ming Group Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Grand Ming Group Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Grand Ming Group Holdings's 1-year earnings growth is negative, it can't be compared to the HK Construction industry average.
Earnings and Revenue History
Grand Ming Group 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 Grand Ming Group Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1271 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 613.41 149.00 59.77
2018-12-31 747.17 150.34 56.86
2018-09-30 880.93 151.68 53.96
2018-06-30 1,152.43 161.73 46.26
2018-03-31 1,423.93 171.79 38.56
2017-12-31 1,390.06 160.34 32.14
2017-09-30 1,356.19 148.90 25.71
2017-06-30 1,205.97 175.96 23.38
2017-03-31 1,055.74 203.02 21.05
2016-12-31 1,024.22 244.14 18.37
2016-09-30 992.69 285.25 15.69
2016-06-30 980.14 343.59 14.91
2016-03-31 967.58 401.93 14.14
2015-12-31 985.09 366.55 15.10
2015-09-30 1,002.60 331.16 16.07
2015-06-30 924.39 329.49 14.75
2015-03-31 846.17 327.81 13.43
2014-12-31 719.44 474.99 11.26
2014-09-30 592.71 622.16 9.10
2014-06-30 538.39 530.32 16.87
2014-03-31 484.06 438.48 24.64
2013-12-31 475.40 294.54 30.66
2013-09-30 466.73 150.60 36.67
2013-06-30 620.22 149.79 28.75
2013-03-31 773.70 148.98 20.83

*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.
  • Grand Ming Group Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Grand Ming Group Holdings used its assets less efficiently than the HK Construction industry average last year based on Return on Assets.
  • Grand Ming Group Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Grand Ming Group 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 Construction 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.
Grand Ming Group Holdings has a total score of 0/6, 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.

1271 Health

 How is Grand Ming Group 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 Grand Ming Group Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Grand Ming Group Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Grand Ming Group Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Grand Ming Group 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 0.6x 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 Grand Ming Group Holdings Company Filings, last reported 3 months ago.

SEHK:1271 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,814.52 3,990.53 123.29
2018-12-31 2,814.52 3,990.53 123.29
2018-09-30 2,785.67 3,865.32 108.90
2018-06-30 2,785.67 3,865.32 108.90
2018-03-31 2,765.10 3,585.69 365.75
2017-12-31 2,765.10 3,585.69 365.75
2017-09-30 2,673.29 3,086.57 831.67
2017-06-30 2,673.29 3,086.57 831.67
2017-03-31 2,634.95 2,638.17 445.35
2016-12-31 2,634.95 2,638.17 445.35
2016-09-30 2,574.38 2,258.38 105.95
2016-06-30 2,574.38 2,258.38 105.95
2016-03-31 2,473.73 1,078.79 137.19
2015-12-31 2,473.73 1,078.79 137.19
2015-09-30 2,341.42 1,096.99 168.01
2015-06-30 2,341.42 1,096.99 168.01
2015-03-31 2,119.91 1,080.25 147.68
2014-12-31 2,119.91 1,080.25 147.68
2014-09-30 2,047.52 923.72 242.63
2014-06-30 2,047.52 923.72 242.63
2014-03-31 1,820.43 836.15 217.42
2013-12-31 1,820.43 836.15 217.42
2013-09-30 1,449.50 879.74 237.51
2013-06-30 1,449.50 879.74 237.51
2013-03-31 1,290.40 865.32 64.33
  • Grand Ming Group Holdings's level of debt (141.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (45.9% vs 141.8% today).
  • Debt is not well covered by operating cash flow (2.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).
X
Financial health checks
We assess Grand Ming Group 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. Grand Ming Group Holdings has a total score of 2/6, 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.

1271 Dividends

 What is Grand Ming Group 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
2.06%
Current annual income from Grand Ming Group Holdings dividends.
If you bought HK$2,000 of Grand Ming Group Holdings shares you are expected to receive HK$41 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?
  • Grand Ming Group Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Grand Ming Group Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.72%).
Upcoming dividend payment

Purchase Grand Ming Group Holdings before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:1271 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 0 Analyst Estimates (S&P Global) See Below
Hong Kong Construction Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 3.9%
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:1271 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-06-06 0.098 2.063
2018-07-26 0.116 2.373
2017-11-09 0.080 1.725
2017-06-26 0.073 1.551
2017-06-01 0.073 1.552
2016-07-28 0.063 1.479
2015-06-22 0.055 1.377
2015-06-02 0.055 1.308
2014-12-04 0.052 1.181
2014-11-18 0.052 1.253
2014-11-17 0.052 1.495
2014-08-13 0.052 2.015
2013-12-04 0.041 2.044
2013-11-18 0.041 3.097

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

  • Whilst dividend payments have been stable, Grand Ming Group Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Grand Ming Group Holdings only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Grand Ming Group Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Grand Ming Group 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 Grand Ming Group Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Grand Ming Group Holdings has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

1271 Management

 What is the CEO of Grand Ming Group 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
Chi Lau
COMPENSATION HK$2,565,000
AGE 54
CEO Bio

Mr. Chi Wah Lau serves as the Chief Executive Officer and Executive Director of Grand Ming Group Holdings Limited. Mr. Lau holds a Honour Diploma in Accountancy from the Lingnan College (now known as the Lingnan University) and Master's Degree in Professional Accounting from Hong Kong Polytechnic University. He is a fellow of the Hong Kong Institute of Certified Public Accountants (HKICPA).

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

Hung Ming Chan

TITLE
Executive Chairman
COMPENSATION
HK$3M
AGE
65

Chi Lau

TITLE
CEO & Executive Director
COMPENSATION
HK$3M
AGE
54

Wing Wo Kwan

TITLE
CFO & Executive Director
COMPENSATION
HK$3M
AGE
51

Ying Wai Yuen

TITLE
Executive Director
COMPENSATION
HK$3M
AGE
56

King Fung Ngan

TITLE
Director of Sales & Marketing
AGE
52

Matthew Leung

TITLE
Company Secretary
AGE
53
TENURE
6 yrs
Board of Directors Tenure

Average tenure and age of the Grand Ming Group Holdings board of directors in years:

6
Average Tenure
61.5
Average Age
  • The tenure for the Grand Ming Group Holdings board of directors is about average.
Board of Directors

Hung Ming Chan

TITLE
Executive Chairman
COMPENSATION
HK$3M
AGE
65

Chi Lau

TITLE
CEO & Executive Director
COMPENSATION
HK$3M
AGE
54

Wing Wo Kwan

TITLE
CFO & Executive Director
COMPENSATION
HK$3M
AGE
51

Ying Wai Yuen

TITLE
Executive Director
COMPENSATION
HK$3M
AGE
56

Bill Mok

TITLE
Independent Non-Executive Director
COMPENSATION
HK$358K
AGE
58
TENURE
6 yrs

Ka Tsui

TITLE
Independent Non-Executive Director
COMPENSATION
HK$358K
AGE
66
TENURE
6 yrs

Yau Kan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$358K
AGE
66
TENURE
6 yrs

Johnny Lee

TITLE
Independent Non-Executive Director
COMPENSATION
HK$358K
AGE
75
TENURE
6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Grand Ming Group 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. Grand Ming Group 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.

1271 News

Simply Wall St News

Calculating The Intrinsic Value Of Grand Ming Group Holdings Limited (HKG:1271)

Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF (HK$, Millions) HK$159.2m HK$224.2m HK$289.7m HK$350.8m HK$404.6m HK$450.4m HK$488.9m HK$521.0m HK$548.2m HK$571.4m Growth Rate Estimate Source Est @ 57.55% Est @ 40.88% Est @ 29.22% Est @ 21.05% Est @ 15.34% Est @ 11.34% Est @ 8.54% Est @ 6.58% Est @ 5.21% Est @ 4.24% Present Value (HK$, Millions) Discounted @ 12.94% HK$140.9 HK$175.8 HK$201.1 HK$215.6 HK$220.1 HK$217.0 HK$208.5 HK$196.8 HK$183.3 HK$169.2 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= HK$1.9b After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 12.9%.

Simply Wall St -

Why Grand Ming Group Holdings Limited’s (HKG:1271) Return On Capital Employed Looks Uninspiring

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Grand Ming Group Holdings: 0.035 = HK$212m ÷ (HK$7.1b - HK$978m) (Based on the trailing twelve months to March 2019.) Therefore, Grand Ming Group Holdings has an ROCE of 3.5%. … Check out our latest analysis for Grand Ming Group Holdings Is Grand Ming Group Holdings's ROCE Good? … What Are Current Liabilities, And How Do They Affect Grand Ming Group Holdings's ROCE?

Simply Wall St -

Should Grand Ming Group Holdings Limited's (HKG:1271) Recent Earnings Decline Worry You?

See our latest analysis for Grand Ming Group Holdings How Did 1271's Recent Performance Stack Up Against Its Past? … Furthermore, its return on assets (ROA) of 2.9% is below the HK Construction industry of 5.7%, indicating Grand Ming Group Holdings's are utilized less efficiently. … And finally, its return on capital (ROC), which also accounts for Grand Ming Group Holdings’s debt level, has declined over the past 3 years from 4.7% to 3.5%.

Simply Wall St -

Can Grand Ming Group Holdings Limited (HKG:1271) Improve Its Returns?

Our data shows Grand Ming Group Holdings has a return on equity of 5.4% for the last year. … View our latest analysis for Grand Ming Group Holdings How Do I Calculate Return On Equity? … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Grand Ming Group Holdings: 5.4% = HK$152m ÷ HK$2.8b (Based on the trailing twelve months to September 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated.

Simply Wall St -

Here's What Grand Ming Group Holdings Limited's (HKG:1271) P/E Is Telling Us

We'll apply a basic P/E ratio analysis to Grand Ming Group Holdings Limited's (HKG:1271), to help you decide if the stock is worth further research. … Looking at earnings over the last twelve months, Grand Ming Group Holdings has a P/E ratio of 22.84. … View our latest analysis for Grand Ming Group Holdings?

Simply Wall St -

Something To Consider Before Buying Grand Ming Group Holdings Limited (HKG:1271) For The 2.4% Dividend

Is Grand Ming Group Holdings Limited (HKG:1271) a good dividend stock? … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … Investors might not know much about Grand Ming Group Holdings's dividend prospects, even though it has been paying dividends for the last five years and offers a 2.4% yield.

Simply Wall St -

Is Grand Ming Group Holdings Limited (HKG:1271) A Financially Sound Company?

Assessing first and foremost the financial health is. … since poor capital management may bring about bankruptcies, … Let's work through some financial health checks you may wish to consider if you're interested in this stock.

Simply Wall St -

Should You Worry About Grand Ming Group Holdings Limited's (HKG:1271) CEO Pay Cheque?

Chi Lau is the CEO of Grand Ming Group Holdings Limited (HKG:1271). … Check out our latest analysis for Grand Ming Group Holdings? … At the time of writing our data says that Grand Ming Group Holdings Limited has a market cap of HK$3.5b, and is paying total annual CEO compensation of HK$2.5m.

Simply Wall St -

Can You Imagine How Chuffed Grand Ming Group Holdings's Shareholders Feel About Its 175% Share Price Gain?

Long term Grand Ming Group Holdings Limited (HKG:1271) shareholders would be well aware of this, since the stock is up 175% in five years. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During five years of share price growth, Grand Ming Group Holdings actually saw its EPS drop 4.6% per year.

Simply Wall St -

Should Grand Ming Group Holdings Limited's (HKG:1271) Recent Earnings Worry You?

For investors with a long-term horizon, examining earnings trend over time and against industry peers is more insightful than looking at an earnings announcement in one point in time. … Investors may find my commentary, albeit very high-level and brief, on Grand Ming Group Holdings Limited (HKG:1271) useful as an attempt to give more color around how Grand Ming Group Holdings is currently performing. … See our latest analysis for Grand Ming Group Holdings?

Simply Wall St -

1271 Company Info

Description

Grand Ming Group Holdings Limited, an investment holding company, engages in the building construction, property leasing, and property development businesses in Hong Kong. Its Construction segment constructs residential and commercial buildings, as well as data centers. The company’s Property Leasing segment is involved in the lease of data centers and office premises. Its Property Development segment develops and sells residential properties. The company was founded in 1995 and is headquartered in Kowloon, Hong Kong. Grand Ming Group Holdings Limited is a subsidiary of Chan HM Company Limited.

Details
Name: Grand Ming Group Holdings Limited
1271
Exchange: SEHK
Founded: 1995
HK$3,357,217,648
709,771,173
Website: http://www.grandming.com.hk
Address: Grand Ming Group Holdings Limited
Railway Plaza,
22nd Floor,
Kowloon,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1271 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 09. Aug 2013
Number of employees
Current staff
Staff numbers
168
Grand Ming Group Holdings employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 13:00
End of day share price update: 2019/07/18 00:00
Last earnings filing: 2019/06/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


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.