SEHK:2448

Stock Analysis Report

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Executive Summary

Space Group Holdings Limited, an investment holding company, engages in the fitting-out and building construction works in Macau, Hong Kong, and China. More Details


Snowflake Analysis

Adequate balance sheet with poor track record.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 2448's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

8.8%

2448

1.8%

HK Construction

0.1%

HK Market


1 Year Return

24.8%

2448

-12.4%

HK Construction

2.0%

HK Market

Return vs Industry: 2448 exceeded the Hong Kong Construction industry which returned -12.4% over the past year.

Return vs Market: 2448 exceeded the Hong Kong Market which returned 2% over the past year.


Shareholder returns

2448IndustryMarket
7 Day8.8%1.8%0.1%
30 Day46.4%4.6%2.4%
90 Day35.3%3.3%-0.4%
1 Year24.8%24.8%-7.8%-12.4%6.3%2.0%
3 Yearn/a-36.3%-44.2%-5.7%-16.0%
5 Yearn/a-37.8%-48.4%16.4%-3.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Space Group Holdings undervalued compared to its fair value and its price relative to the market?

23.76x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 2448 (HK$1.61) is trading above our estimate of fair value (HK$1.05)

Significantly Below Fair Value: 2448 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 2448 is poor value based on its PE Ratio (23.8x) compared to the HK Construction industry average (9.1x).

PE vs Market: 2448 is poor value based on its PE Ratio (23.8x) compared to the Hong Kong market (11.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 2448's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 2448 is overvalued based on its PB Ratio (2.9x) compared to the HK Construction industry average (0.8x).


Next Steps

Future Growth

How is Space Group Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.7%

Forecasted Capital Goods industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Space Group Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Space Group Holdings performed over the past 5 years?

-1.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2448 has high quality earnings.

Growing Profit Margin: 2448's current net profit margins (13.3%) are lower than last year (15.1%).


Past Earnings Growth Analysis

Earnings Trend: 2448's earnings have declined by 1.3% per year over the past 5 years.

Accelerating Growth: 2448's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2448 had negative earnings growth (-19.3%) over the past year, making it difficult to compare to the Construction industry average (-5.6%).


Return on Equity

High ROE: 2448's Return on Equity (12.4%) is considered low.


Next Steps

Financial Health

How is Space Group Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 2448's short term assets (MOP692.9M) exceed its short term liabilities (MOP387.1M).

Long Term Liabilities: 2448's short term assets (MOP692.9M) exceed its long term liabilities (MOP5.7M).


Debt to Equity History and Analysis

Debt Level: 2448's debt to equity ratio (69.1%) is considered high.

Reducing Debt: 2448's debt to equity ratio has reduced from 286.1% to 69.1% over the past 5 years.

Debt Coverage: 2448's debt is not well covered by operating cash flow (9.5%).

Interest Coverage: 2448's interest payments on its debt are well covered by EBIT (7.3x coverage).


Balance Sheet


Next Steps

Dividend

What is Space Group Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 2448's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 2448's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 2448's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 2448's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 2448's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

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

0.3yrs

Average management tenure


CEO

Keith Ng

1

Tenure

Mr. Kim Fai Ng, also known as Keith serves as General Manager of Space Group Holdings Limited since October 18, 209. He was a general manager in the project development department of K. Wah International H ...


Leadership Team

NamePositionTenureCompensationOwnership
Chan U Che
Chairman2.83yrsMO$601.00kno data
Soi Kun Lei
Executive Director3.5yrsMO$241.00kno data
Kim Ng
General Manager1yrno datano data
Yunlu Li
Financial Controller & Company Secretary0.25yrno datano data
King To Ho
Senior Finance & Accounting Managerno datano datano data
Kwong Yu Ho
Executive Director0.25yrno datano data

0.3yrs

Average Tenure

38.5yo

Average Age

Experienced Management: 2448's management team is not considered experienced ( 0.3 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Chan U Che
Chairman2.83yrsMO$601.00kno data
Soi Kun Lei
Executive Director3.5yrsMO$241.00kno data
Kwong Yu Ho
Executive Director0.25yrno datano data
Chun Wah Fan
Independent Non-Executive Director2.83yrsMO$329.00kno data
José Eulógio dos Remédios
Independent Non-Executive Director2.83yrsMO$120.00kno data
Iat Lun Leong
Independent Non-Executive Director2.83yrsMO$120.00kno data

2.8yrs

Average Tenure

41.5yo

Average Age

Experienced Board: 2448's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


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.


Ownership Breakdown

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


Top Shareholders

Company Information

Space Group Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Space Group Holdings Limited
  • Ticker: 2448
  • Exchange: SEHK
  • Founded: 2007
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: HK$1.239b
  • Shares outstanding: 760.00m
  • Website: https://www.spacegroup.com.mo

Number of Employees


Location

  • Space Group Holdings Limited
  • Edificio Centro Comercial Chong Fok 8C
  • Avenida de Marciano Baptista 18
  • Macau
  • Macau

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2448SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJan 2018

Biography

Space Group Holdings Limited, an investment holding company, engages in the fitting-out and building construction works in Macau, Hong Kong, and China. The company is involved in the procurement of materia ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/22 13:03
End of Day Share Price2020/10/22 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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