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Ten Pao Group Holdings

SEHK:1979
Snowflake Description

Flawless balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1979
SEHK
HK$810M
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Ten Pao Group Holdings Limited, an investment holding company, develops, manufactures, and sells electric charging products in the People’s Republic of China, Asia, the Americas, Europe, Africa, and internationally. The last earnings update was 87 days ago. More info.


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  • Ten Pao Group Holdings has significant price volatility in the past 3 months.
1979 Share Price and Events
7 Day Returns
-3.5%
SEHK:1979
-1.5%
HK Electrical
-0.2%
HK Market
1 Year Returns
5.1%
SEHK:1979
-28.9%
HK Electrical
-4.5%
HK Market
1979 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ten Pao Group Holdings (1979) -3.5% -1.2% -28.1% 5.1% 9.3% -
HK Electrical -1.5% -4.6% -19.6% -28.9% -35.4% -37.4%
HK Market -0.2% 2.7% -8.3% -4.5% 16.5% 1%
1 Year Return vs Industry and Market
  • 1979 outperformed the Electrical industry which returned -28.9% over the past year.
  • 1979 outperformed the Market in Hong Kong which returned -4.5% over the past year.
Price Volatility
1979
Industry
5yr Volatility vs Market

1979 Value

 Is Ten Pao 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 Ten Pao 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 Ten Pao Group Holdings.

SEHK:1979 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.5%
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:1979
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Electrical Unlevered Beta Simply Wall St/ S&P Global 1.18
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.185 (1 + (1- 25%) (25.62%))
1.276
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.28
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.276 * 6.65%)
10.49%

Discounted Cash Flow Calculation for SEHK:1979 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ten Pao 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:1979 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 156.90 Analyst x2 142.01
2021 201.40 Analyst x2 164.98
2022 237.65 Est @ 18% 176.19
2023 269.02 Est @ 13.2% 180.52
2024 295.50 Est @ 9.84% 179.46
2025 317.63 Est @ 7.49% 174.59
2026 336.20 Est @ 5.84% 167.25
2027 351.97 Est @ 4.69% 158.47
2028 365.64 Est @ 3.89% 149.00
2029 377.78 Est @ 3.32% 139.33
Present value of next 10 years cash flows HK$1,631.78
SEHK:1979 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$377.78 × (1 + 2%) ÷ (10.49% – 2%)
HK$4,541.00
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$4,541.00 ÷ (1 + 10.49%)10
HK$1,674.79
SEHK:1979 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$1,631.78 + HK$1,674.79
HK$3,306.57
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$3,306.57 / 1,000.46
HK$3.31
SEHK:1979 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$3.31
Current discount Discount to share price of HK$0.82
= -1 x (HK$0.82 - HK$3.31) / HK$3.31
75.2%

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

Current Discount
Amount off the current price Ten Pao Group Holdings is available for.
Intrinsic value
>50%
Share price is HK$0.82 vs Future cash flow value of HK$3.31
Current Discount Checks
For Ten Pao Group Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ten Pao Group Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Ten Pao Group Holdings's share price is below the future cash flow value, and 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 Ten Pao Group Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ten Pao Group Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1979 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.06
SEHK:1979 Share Price ** SEHK (2019-07-19) in HKD HK$0.82
Hong Kong Electrical Industry PE Ratio Median Figure of 23 Publicly-Listed Electrical Companies 10.6x
Hong Kong Market PE Ratio Median Figure of 1,510 Publicly-Listed Companies 10.72x

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

** Primary Listing of Ten Pao Group Holdings.

SEHK:1979 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1979 Share Price ÷ EPS (both in HKD)

= 0.82 ÷ 0.06

14.8x

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

  • Ten Pao Group Holdings is overvalued based on earnings compared to the HK Electrical industry average.
  • Ten Pao Group Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Ten Pao Group Holdings's expected growth come at a high price?
Raw Data
SEHK:1979 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
37.2%per year
Hong Kong Electrical Industry PEG Ratio Median Figure of 9 Publicly-Listed Electrical Companies 0.96x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.79x

*Line of best fit is calculated by linear regression .

SEHK:1979 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.8x ÷ 37.2%

0.4x

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

  • Ten Pao Group Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Ten Pao Group Holdings's assets?
Raw Data
SEHK:1979 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$0.58
SEHK:1979 Share Price * SEHK (2019-07-19) in HKD HK$0.82
Hong Kong Electrical Industry PB Ratio Median Figure of 34 Publicly-Listed Electrical Companies 0.62x
Hong Kong Market PB Ratio Median Figure of 2,197 Publicly-Listed Companies 0.92x
SEHK:1979 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1979 Share Price ÷ Book Value per Share (both in HKD)

= 0.82 ÷ 0.58

1.41x

* Primary Listing of Ten Pao Group Holdings.

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

  • Ten Pao Group Holdings is overvalued based on assets compared to the HK Electrical industry average.
X
Value checks
We assess Ten Pao 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 Electrical 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 Electrical industry average (and greater than 0)? (1 check)
  5. Ten Pao Group Holdings has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

1979 Future Performance

 How is Ten Pao Group Holdings expected to perform in the next 1 to 3 years based on estimates from 2 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
37.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ten Pao Group Holdings expected to grow at an attractive rate?
  • Ten Pao Group Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Ten Pao Group Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Ten Pao Group Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1979 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1979 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 37.2%
SEHK:1979 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 12.4%
Hong Kong Electrical Industry Earnings Growth Rate Market Cap Weighted Average 8.2%
Hong Kong Electrical Industry Revenue Growth Rate Market Cap Weighted Average 9.4%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.6%

*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:1979 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1979 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 4,653 322 244 2
2020-12-31 4,132 273 200 2
2019-12-31 3,637 254 142 2
SEHK:1979 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 3,202 144 55
2018-09-30 3,152 104 54
2018-06-30 3,102 64 53
2018-03-31 3,054 130 105
2017-12-31 3,007 196 158
2017-09-30 2,912 169 184
2017-06-30 2,817 143 211
2017-03-31 2,700 153 202
2016-12-31 2,583 163 194
2016-09-30 2,519 164 169
2016-06-30 2,454 164 143
2016-03-31 2,355 127 136

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ten Pao Group Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Ten Pao Group Holdings's revenue is expected to grow by 12.4% 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:1979 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 2 Analyst Estimates (S&P Global) See Below

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

SEHK:1979 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.25 0.25 0.24 2.00
2020-12-31 0.20 0.21 0.19 2.00
2019-12-31 0.14 0.15 0.13 2.00
SEHK:1979 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.06
2018-09-30 0.05
2018-06-30 0.05
2018-03-31 0.11
2017-12-31 0.16
2017-09-30 0.18
2017-06-30 0.21
2017-03-31 0.20
2016-12-31 0.19
2016-09-30 0.18
2016-06-30 0.16
2016-03-31 0.16

*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.
  • Ten Pao Group Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Ten Pao 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.
Ten Pao Group Holdings has a total score of 5/6, 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.

1979 Past Performance

  How has Ten Pao 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 Ten Pao Group Holdings's growth in the last year to its industry (Electrical).
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.
  • Ten Pao Group Holdings's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Ten Pao Group Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Ten Pao Group Holdings's 1-year earnings growth is negative, it can't be compared to the HK Electrical industry average.
Earnings and Revenue History
Ten Pao 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 Ten Pao Group Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1979 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,202.45 55.42 368.83
2018-09-30 3,151.99 54.37 360.88
2018-06-30 3,101.54 53.32 322.71
2018-03-31 3,054.28 105.45 304.68
2017-12-31 3,007.02 157.58 316.89
2017-09-30 2,912.09 184.25 302.26
2017-06-30 2,817.16 210.93 287.64
2017-03-31 2,700.28 202.50 278.82
2016-12-31 2,583.40 194.07 270.00
2016-09-30 2,518.84 168.77 280.54
2016-06-30 2,454.27 143.47 291.09
2016-03-31 2,355.11 135.54 284.72
2015-12-31 2,255.95 127.60 278.34
2015-09-30 2,123.82 120.96 262.26
2015-06-30 1,991.68 114.33 246.17
2015-03-31 1,961.10 84.52 229.88
2014-12-31 1,930.51 54.72 213.58
2013-12-31 1,690.56 55.70 208.46
2012-12-31 1,422.36 63.92 179.45

*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.
  • Ten Pao Group Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ten Pao Group Holdings used its assets less efficiently than the HK Electrical industry average last year based on Return on Assets.
  • Ten Pao Group Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ten Pao 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 Electrical 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.
Ten Pao Group 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.

1979 Health

 How is Ten Pao 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 Ten Pao Group Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ten Pao Group Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ten Pao Group Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ten Pao 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 covered by short term assets, assets are 6.6x 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 Ten Pao Group Holdings Company Filings, last reported 6 months ago.

SEHK:1979 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 583.34 207.60 208.54
2018-09-30 583.34 207.60 208.54
2018-06-30 549.00 340.77 182.04
2018-03-31 549.00 340.77 182.04
2017-12-31 592.35 187.81 185.34
2017-09-30 592.35 187.81 185.34
2017-06-30 528.92 209.11 207.75
2017-03-31 528.92 209.11 207.75
2016-12-31 453.88 179.48 208.24
2016-09-30 453.88 179.48 208.24
2016-06-30 373.08 183.34 188.45
2016-03-31 373.08 183.34 188.45
2015-12-31 325.38 206.31 191.24
2015-09-30 325.38 206.31 191.24
2015-06-30 363.61 237.69 109.61
2015-03-31 363.61 237.69 109.61
2014-12-31 368.47 103.24 88.86
2013-12-31 316.41 116.42 42.40
2012-12-31 276.67 96.66 74.27
  • Ten Pao Group Holdings's level of debt (35.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (36.8% vs 35.6% today).
  • Debt is well covered by operating cash flow (69.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.8x coverage).
X
Financial health checks
We assess Ten Pao 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. Ten Pao Group Holdings has a total score of 6/6, 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.

1979 Dividends

 What is Ten Pao 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
1.83%
Current annual income from Ten Pao Group Holdings dividends. Estimated to be 7.22% next year.
If you bought HK$2,000 of Ten Pao Group Holdings shares you are expected to receive HK$37 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?
  • Ten Pao Group Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.09%).
  • Ten Pao Group 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:1979 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 2 Analyst Estimates (S&P Global) See Below
Hong Kong Electrical Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 2.3%
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:1979 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.07 2.00
2020-12-31 0.06 2.00
2019-12-31 0.04 2.00
SEHK:1979 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-23 0.015 1.761
2018-08-10 0.000 0.000
2018-03-22 0.050 5.519
2017-09-19 0.060 3.646
2017-04-24 0.070 3.344
2016-09-19 0.040 2.523
2016-08-22 0.040 3.513
2016-04-22 0.020 2.666
2016-03-24 0.020 3.602

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

  • Ten Pao Group Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Ten Pao Group Holdings has only been paying a dividend for 3 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Ten Pao Group Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess Ten Pao 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 Ten Pao Group Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ten Pao Group 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.

1979 Management

 What is the CEO of Ten Pao 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
Kwong Hung
COMPENSATION HK$7,318,000
AGE 61
CEO Bio

Mr. Kwong Yee Hung serves as the Chief Executive Officer at Ten Pao Group Holdings Limited. Mr. Hung has been chairman at Ten Pao Group Holdings Limited since June 2015 and Executive Director since January 2015. Mr. Hung is responsible for the overall strategic planning and overseeing the general management of Group. He serves as a Director of Even Joy, TinYing Holdings, TinYing Investments, Goldasia, Ten Pao Electronic, Korean Co, Ten Pao Precision Electronics, Ten Pao Industrial and Ten Pao International.

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

Average tenure and age of the Ten Pao Group Holdings management team in years:

4.5
Average Tenure
50.5
Average Age
  • The tenure for the Ten Pao Group Holdings management team is about average.
Management Team

Kwong Hung

TITLE
Chairman & CEO
COMPENSATION
HK$7M
AGE
61

Sui Hung

TITLE
Mktg. Director & Executive Director
COMPENSATION
HK$1M
AGE
33

Chung Tse

TITLE
VP, CFO
AGE
49
TENURE
3.7 yrs

Xingchun Liao

TITLE
GM of HR Department & VP
AGE
50
TENURE
5.4 yrs

Bingbing Yang

TITLE
Executive Director & VP of Business Group
AGE
51
TENURE
6.3 yrs

Philip Yue

TITLE
VP of Business Group 2 & Chief Strategy Officer
AGE
59
TENURE
1.6 yrs
Board of Directors Tenure

Average tenure and age of the Ten Pao Group Holdings board of directors in years:

3.7
Average Tenure
52.5
Average Age
  • The tenure for the Ten Pao Group Holdings board of directors is about average.
Board of Directors

Kwong Hung

TITLE
Chairman & CEO
COMPENSATION
HK$7M
AGE
61
TENURE
4.1 yrs

Sui Hung

TITLE
Mktg. Director & Executive Director
COMPENSATION
HK$1M
AGE
33
TENURE
4.5 yrs

Bingbing Yang

TITLE
Executive Director & VP of Business Group
AGE
51

Terry Chu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
47
TENURE
3.7 yrs

Eddie Lee

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
54
TENURE
3.7 yrs

Cheung Chuen Lam

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
65
TENURE
3.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
22. Mar 19 Buy FIL Limited Company 19. Mar 19 19. Mar 19 604,000 HK$0.92 HK$557,551
28. Dec 18 Buy FIL Limited Company 21. Dec 18 21. Dec 18 2,424,000 HK$0.62 HK$1,502,874
02. Nov 18 Buy FIL Limited Company 30. Oct 18 30. Oct 18 5,196,000 HK$0.50 HK$2,596,953
X
Management checks
We assess Ten Pao 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. Ten Pao 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.

1979 News

Simply Wall St News

Should Ten Pao Group Holdings (HKG:1979) Be Disappointed With Their 18% Profit?

While Ten Pao Group Holdings Limited (HKG:1979) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 17% in the last quarter. … Over the last three years, Ten Pao Group Holdings failed to grow earnings per share, which fell 31% (annualized). … As it happens, Ten Pao Group Holdings's TSR for the last 3 years was 32%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Should You Think About Buying Ten Pao Group Holdings Limited (HKG:1979) Now?

I find that Ten Pao Group Holdings’s ratio of 14.98x is trading slightly above its industry peers’ ratio of 11.52x, which means if you buy Ten Pao Group Holdings today, you’d be paying a relatively fair price for it. … Given that Ten Pao Group Holdings’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us an opportunity to buy later on. … 1979’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

Why It Might Not Make Sense To Buy Ten Pao Group Holdings Limited (HKG:1979) For Its Next Dividend

Readers hoping to buy Ten Pao Group Holdings Limited (HKG:1979) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. … Check out our latest analysis for Ten Pao Group Holdings The reason we need to check these things is that dividends are typically paid from company earnings. … While Ten Pao Group Holdings's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend.

Simply Wall St -

Is Ten Pao Group Holdings Limited (HKG:1979) An Attractive Dividend Stock?

Is Ten Pao Group Holdings Limited (HKG:1979) a good dividend stock? … With a cash payout ratio of 153%, Ten Pao Group Holdings's dividend payments are poorly covered by cash flow. … Ten Pao Group Holdings paid out less in dividends than it reported in profits, but unfortunately it didn't generate enough free cash flow to cover the dividend.

Simply Wall St -

Do Insiders Own Lots Of Shares In Ten Pao Group Holdings Limited (HKG:1979)?

See our latest analysis for Ten Pao Group Holdings SEHK:1979 Ownership Summary, May 14th 2019 What Does The Institutional Ownership Tell Us About Ten Pao Group Holdings? … As you can see, institutional investors own 12% of Ten Pao Group Holdings. … Insider Ownership Of Ten Pao Group Holdings While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders.

Simply Wall St -

How Much is Ten Pao Group Holdings Limited's (HKG:1979) CEO Getting Paid?

Kwong Hung is the CEO of Ten Pao Group Holdings Limited (HKG:1979). … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Kwong Hung's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Is Ten Pao Group Holdings Limited's (HKG:1979) ROE Of 9.5% Impressive?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Ten Pao Group Holdings Limited (HKG:1979). … That means that for every HK$1 worth of shareholders' equity, it generated HK$0.095 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

How Good Is Ten Pao Group Holdings Limited (HKG:1979) At Creating Shareholder Value?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Ten Pao Group Holdings (HKG:1979) Shareholders Have Enjoyed A 75% Share Price Gain

For example, the Ten Pao Group Holdings Limited (HKG:1979) share price is up 75% in the last three years, clearly besting than the market return of around 28% (not including dividends). … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Over the last three years, Ten Pao Group Holdings failed to grow earnings per share, which fell 31% (annualized).

Simply Wall St -

What Does Ten Pao Group Holdings Limited's (HKG:1979) P/E Ratio Tell You?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Ten Pao Group Holdings Limited's (HKG:1979) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

1979 Company Info

Description

Ten Pao Group Holdings Limited, an investment holding company, develops, manufactures, and sells electric charging products in the People’s Republic of China, Asia, the Americas, Europe, Africa, and internationally. The company operates through seven segments: Telecommunication, Media and Entertainment, Electronic Cigarette, Electrical Home Appliances, Lighting, Smart Chargers and Controllers, and Others. It offers switching power supply units for consumer products, such as USB chargers, wireless chargers, adapters, open frame power supplies, and LED driver units and power supplies for use in various industries, including telecommunications equipment, media and entertainment equipment, electronic cigarettes, home electrical appliances, and LED lighting and health care products. The company also provides smart chargers and controllers used in power tools for industrial use. Ten Pao Group Holdings Limited was founded in 1979 and is headquartered in Kowloon, Hong Kong.

Details
Name: Ten Pao Group Holdings Limited
1979
Exchange: SEHK
Founded: 1979
HK$810,369,360
1,000,456,000
Website: http://www.tenpao.com
Address: Ten Pao Group Holdings Limited
Kwong Sang Hong Centre,
6th Floor, Room 610-612,
Kowloon,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1979 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 11. Dec 2015
Number of employees
Current staff
Staff numbers
6,500
Ten Pao Group Holdings employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 13:08
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/06/03
Last earnings filing: 2019/04/23
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.