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CSSC Offshore & Marine Engineering (Group)

SEHK:317
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
317
SEHK
HK$24B
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

CSSC Offshore & Marine Engineering (Group) Company Limited operates in the shipbuilding industry. The last earnings update was 31 days ago. More info.


Add to Portfolio Compare Print
  • CSSC Offshore & Marine Engineering (Group) has significant price volatility in the past 3 months.
317 Share Price and Events
7 Day Returns
2.6%
SEHK:317
-0.1%
HK Machinery
0.3%
HK Market
1 Year Returns
-12.9%
SEHK:317
15.9%
HK Machinery
-4.8%
HK Market
317 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CSSC Offshore & Marine Engineering (Group) (317) 2.6% 13.1% 67.1% -12.9% -27.5% -34.6%
HK Machinery -0.1% 9% 30.7% 15.9% 66.8% 44.4%
HK Market 0.3% 2.3% 10.5% -4.8% 27.1% 20.8%
1 Year Return vs Industry and Market
  • 317 underperformed the Machinery industry which returned 15.9% over the past year.
  • 317 underperformed the Market in Hong Kong which returned -4.8% over the past year.
Price Volatility
317
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for CSSC Offshore & Marine Engineering (Group)'s competitors could be found in our database.

317 Value

 Is CSSC Offshore & Marine Engineering (Group) 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 CSSC Offshore & Marine Engineering (Group) 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 CSSC Offshore & Marine Engineering (Group).

SEHK:317 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.3%
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:317
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.067 (1 + (1- 25%) (63.58%))
1.386
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.39
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.386 * 5.96%)
10.26%

Discounted Cash Flow Calculation for SEHK:317 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for CSSC Offshore & Marine Engineering (Group) 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:317 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 10.26%)
2019 1,620.00 Analyst x1 1,469.21
2020 -422.00 Analyst x1 -347.10
2021 25.00 Analyst x1 18.65
2022 32.78 Est @ 31.12% 22.18
2023 40.12 Est @ 22.38% 24.61
2024 46.64 Est @ 16.27% 25.96
2025 52.24 Est @ 11.99% 26.36
2026 56.94 Est @ 8.99% 26.06
2027 60.86 Est @ 6.9% 25.26
2028 64.17 Est @ 5.43% 24.16
Present value of next 10 years cash flows CN¥1,315.35
SEHK:317 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥64.17 × (1 + 2%) ÷ (10.26% – 2%)
CN¥792.39
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥792.39 ÷ (1 + 10.26%)10
CN¥298.29
SEHK:317 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥1,315.35 + CN¥298.29
CN¥1,613.64
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥1,613.64 / 1,413.51
CN¥1.14
SEHK:317 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:317)
1.169
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥1.14 x 1.169
HK$1.33
Value per share (HKD) From above. HK$1.33
Current discount Discount to share price of HK$8.99
= -1 x (HK$8.99 - HK$1.33) / HK$1.33
-573.4%

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

  • The current share price of CSSC Offshore & Marine Engineering (Group) is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 CSSC Offshore & Marine Engineering (Group)'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CSSC Offshore & Marine Engineering (Group)'s earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:317 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥-1.32
SEHK:317 Share Price ** SEHK (2019-04-18) in HKD HK$8.99
SEHK:317 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥7.69
Hong Kong Machinery Industry PE Ratio Median Figure of 32 Publicly-Listed Machinery Companies 10.74x
Hong Kong Market PE Ratio Median Figure of 1,474 Publicly-Listed Companies 12.01x

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

** Primary Listing of CSSC Offshore & Marine Engineering (Group).

SEHK:317 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:317 Share Price ÷ EPS (both in CNY)

= 7.69 ÷ -1.32

-5.81x

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

  • CSSC Offshore & Marine Engineering (Group) is loss making, we can't compare its value to the HK Machinery industry average.
  • CSSC Offshore & Marine Engineering (Group) is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does CSSC Offshore & Marine Engineering (Group)'s expected growth come at a high price?
Raw Data
SEHK:317 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -5.81x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
94%per year
Hong Kong Machinery Industry PEG Ratio Median Figure of 11 Publicly-Listed Machinery Companies 0.9x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.87x

*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 CSSC Offshore & Marine Engineering (Group), we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on CSSC Offshore & Marine Engineering (Group)'s assets?
Raw Data
SEHK:317 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥6.88
SEHK:317 Share Price * SEHK (2019-04-18) in HKD HK$8.99
SEHK:317 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥7.69
Hong Kong Machinery Industry PB Ratio Median Figure of 46 Publicly-Listed Machinery Companies 0.87x
Hong Kong Market PB Ratio Median Figure of 2,149 Publicly-Listed Companies 1.03x
SEHK:317 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:317 Share Price ÷ Book Value per Share (both in CNY)

= 7.69 ÷ 6.88

1.12x

* Primary Listing of CSSC Offshore & Marine Engineering (Group).

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

  • CSSC Offshore & Marine Engineering (Group) is overvalued based on assets compared to the HK Machinery industry average.
X
Value checks
We assess CSSC Offshore & Marine Engineering (Group)'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 Machinery 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 Machinery industry average (and greater than 0)? (1 check)
  5. CSSC Offshore & Marine Engineering (Group) has a total score of 0/6, 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.

317 Future Performance

 How is CSSC Offshore & Marine Engineering (Group) expected to perform in the next 1 to 3 years based on estimates from 5 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
94%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CSSC Offshore & Marine Engineering (Group) expected to grow at an attractive rate?
  • CSSC Offshore & Marine Engineering (Group)'s earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • CSSC Offshore & Marine Engineering (Group)'s earnings growth is expected to exceed the Hong Kong market average.
  • CSSC Offshore & Marine Engineering (Group)'s revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:317 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:317 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 94%
SEHK:317 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 15.1%
Hong Kong Machinery Industry Earnings Growth Rate Market Cap Weighted Average 13.4%
Hong Kong Machinery Industry Revenue Growth Rate Market Cap Weighted Average 10%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 11.1%

*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:317 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:317 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 30,051 2,254 220 2
2020-12-31 26,703 2,914 495 5
2019-12-31 22,428 2,539 418 3
SEHK:317 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 19,214 -1,545 -1,869
2018-09-30 18,583 946 -302
2018-06-30 20,116 401 -251
2018-03-31 21,194 -659 94
2017-12-31 22,920 -811 -51
2017-09-30 21,771 -1,742 -122
2017-06-30 22,407 -3,785 78
2017-03-31 23,093 -4,103 89
2016-12-31 23,350 -3,761 71
2016-09-30 25,445 -2,194 1,052
2016-06-30 26,069 -1,308 660
2016-03-31 25,922 520 303

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CSSC Offshore & Marine Engineering (Group)'s earnings are expected to grow significantly at over 20% yearly.
  • CSSC Offshore & Marine Engineering (Group)'s revenue is expected to grow by 15.1% 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:317 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 5 Analyst Estimates (S&P Global) See Below

All data from CSSC Offshore & Marine Engineering (Group) Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:317 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.22 0.22 0.22 1.00
2020-12-31 0.35 0.41 0.31 3.00
2019-12-31 0.29 0.40 0.21 3.00
SEHK:317 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 -1.32
2018-09-30 -0.21
2018-06-30 -0.18
2018-03-31 0.07
2017-12-31 -0.04
2017-09-30 -0.09
2017-06-30 0.06
2017-03-31 0.06
2016-12-31 0.05
2016-09-30 0.75
2016-06-30 0.47
2016-03-31 0.21

*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.
  • CSSC Offshore & Marine Engineering (Group) is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess CSSC Offshore & Marine Engineering (Group)'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.
CSSC Offshore & Marine Engineering (Group) has a total score of 4/6, 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.

317 Past Performance

  How has CSSC Offshore & Marine Engineering (Group) 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 CSSC Offshore & Marine Engineering (Group)'s growth in the last year to its industry (Machinery).
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.
  • CSSC Offshore & Marine Engineering (Group) does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare CSSC Offshore & Marine Engineering (Group)'s 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare CSSC Offshore & Marine Engineering (Group)'s 1-year growth to the HK Machinery industry average as it is not currently profitable.
Earnings and Revenue History
CSSC Offshore & Marine Engineering (Group)'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 CSSC Offshore & Marine Engineering (Group) Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:317 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 19,213.60 -1,869.01 847.53 497.56
2018-09-30 18,582.91 -301.94 1,155.27 62.55
2018-06-30 20,115.79 -251.16 1,202.03 36.17
2018-03-31 21,194.07 93.62 1,147.90
2017-12-31 22,920.21 -50.51 925.57 408.19
2017-09-30 21,771.32 -122.44 897.99 236.93
2017-06-30 22,407.19 78.12 1,183.62 147.02
2017-03-31 23,093.07 88.60 1,305.41
2016-12-31 23,349.60 71.22 1,293.75
2016-09-30 25,445.36 1,052.01 1,384.03
2016-06-30 26,069.47 660.39 1,440.10
2016-03-31 25,922.46 303.03 1,365.94
2015-12-31 25,519.24 98.32 1,424.90
2015-09-30 24,220.43 -141.95 1,430.72
2015-06-30 23,452.97 118.65 1,233.37
2015-03-31 21,565.52 386.71 1,324.60
2014-12-31 21,046.99 423.70 1,211.99
2014-09-30 16,057.08 -527.03 1,120.90
2014-06-30 11,605.01 -396.08 889.67
2014-03-31 7,810.73 -369.54 719.68
2013-12-31 5,838.27 -218.57 608.26
2013-09-30 5,340.85 -106.04 504.70
2013-06-30 5,628.44 -120.10 391.60
2013-03-31 6,015.75 -84.79 358.88
2012-12-31 6,424.08 10.33 319.38
2012-09-30 7,025.44 152.87 289.67
2012-06-30 7,745.64 342.93 324.66

*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.
  • It is difficult to establish if CSSC Offshore & Marine Engineering (Group) has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if CSSC Offshore & Marine Engineering (Group) has efficiently used its assets last year compared to the HK Machinery industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if CSSC Offshore & Marine Engineering (Group) improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess CSSC Offshore & Marine Engineering (Group)'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 Machinery 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.
CSSC Offshore & Marine Engineering (Group) 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.

317 Health

 How is CSSC Offshore & Marine Engineering (Group)'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 CSSC Offshore & Marine Engineering (Group)'s finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CSSC Offshore & Marine Engineering (Group) is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CSSC Offshore & Marine Engineering (Group)'s cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CSSC Offshore & Marine Engineering (Group)'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 2.2x 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 CSSC Offshore & Marine Engineering (Group) Company Filings, last reported 3 months ago.

SEHK:317 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 14,356.41 13,058.01 10,749.57
2018-09-30 16,128.76 10,202.32 9,473.50
2018-06-30 16,468.58 10,415.56 9,884.67
2018-03-31 16,866.25 9,604.01 8,855.98
2017-12-31 12,319.49 17,247.97 13,217.93
2017-09-30 11,683.46 15,793.15 9,188.97
2017-06-30 11,832.62 14,409.82 9,127.01
2017-03-31 10,429.33 14,093.95 9,734.96
2016-12-31 10,410.80 14,459.39 12,647.97
2016-09-30 10,335.45 22,126.99 18,757.44
2016-06-30 10,369.07 20,554.80 19,297.21
2016-03-31 10,369.78 19,419.70 20,323.71
2015-12-31 10,368.66 15,214.74 18,522.43
2015-09-30 9,337.11 17,304.23 14,574.06
2015-06-30 9,756.90 15,501.61 14,890.19
2015-03-31 10,080.74 15,535.81 15,857.51
2014-12-31 8,707.96 14,570.41 16,795.11
2014-09-30 4,874.15 9,291.95 5,788.81
2014-06-30 5,207.96 9,721.92 7,192.96
2014-03-31 5,375.07 10,640.19 9,304.89
2013-12-31 3,928.23 10,452.85 7,847.49
2013-09-30 4,109.67 2,699.05 5,819.32
2013-06-30 4,099.65 2,766.68 5,675.96
2013-03-31 4,196.30 2,701.13 5,555.90
2012-12-31 4,246.58 2,563.76 6,147.60
2012-09-30 4,220.74 2,850.91 5,912.15
2012-06-30 4,278.77 2,337.89 5,845.25
  • CSSC Offshore & Marine Engineering (Group)'s level of debt (91%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (265.1% vs 91% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • CSSC Offshore & Marine Engineering (Group) has sufficient cash runway for more than 3 years based on current free cash flow.
  • CSSC Offshore & Marine Engineering (Group) has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of -20.2% each year.
X
Financial health checks
We assess CSSC Offshore & Marine Engineering (Group)'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. CSSC Offshore & Marine Engineering (Group) has a total score of 5/6, 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.

317 Dividends

 What is CSSC Offshore & Marine Engineering (Group)'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
0%
Current annual income from CSSC Offshore & Marine Engineering (Group) dividends. Estimated to be 1.08% next year.
If you bought HK$2,000 of CSSC Offshore & Marine Engineering (Group) shares you are expected to receive HK$0 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?
  • Unable to evaluate CSSC Offshore & Marine Engineering (Group)'s dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate CSSC Offshore & Marine Engineering (Group)'s dividend against the top 25% market benchmark as the company has not reported any payouts.
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:317 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 5 Analyst Estimates (S&P Global) See Below
Hong Kong Machinery Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 4.7%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 965 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 1.9%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

SEHK:317 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 0.09 2.00
2019-12-31 0.08 2.00
SEHK:317 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-10-30 0.000 0.000
2018-09-20 0.000 0.000
2018-08-23 0.000 0.000
2018-04-27 0.000 0.000
2018-04-26 0.000 0.000
2018-03-29 0.000 0.000
2017-04-19 0.016 0.147
2017-03-31 0.016 0.109
2016-03-24 0.030 0.275
2015-10-30 0.000 0.000
2015-09-21 0.000 0.000
2015-08-26 0.000 0.000
2015-04-28 0.000 0.000
2015-02-16 0.000 0.000
2014-11-03 0.010 0.055
2013-07-05 0.120 1.394
2012-10-30 0.000 0.000
2012-08-24 0.000 0.000
2012-08-23 0.000 0.000
2012-04-16 0.000 0.000
2012-03-30 0.000 0.000
2011-07-13 0.077 1.387
2010-05-25 0.215 2.303
2009-04-23 0.346 3.712

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

  • Unable to perform a dividend volatility check as CSSC Offshore & Marine Engineering (Group) has not reported any payouts.
  • Unable to verify if CSSC Offshore & Marine Engineering (Group)'s dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of CSSC Offshore & Marine Engineering (Group)'s earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as CSSC Offshore & Marine Engineering (Group) has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of CSSC Offshore & Marine Engineering (Group)'s dividends in 3 years as they are not expected to pay a notable one for Hong Kong.
X
Income/ dividend checks
We assess CSSC Offshore & Marine Engineering (Group)'s dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 CSSC Offshore & Marine Engineering (Group) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CSSC Offshore & Marine Engineering (Group) has a total score of 0/6, see the detailed checks below.


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

317 Management

 What is the CEO of CSSC Offshore & Marine Engineering (Group)'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
Liping Chen
COMPENSATION CN¥782,895
AGE 51
CEO Bio

Mr. Liping Chen serves as Deputy Director of the Board of CSSC Guangzhou Longxue Shipbuilding Co., Ltd. He served as Chief Accountant at Guangzhou Shipyard International Co. Ltd. Mr. Chen previously served as the Chief Accountant of Guangzhou Shipyard International Co. Ltd. since May 31, 2011 and its Company Secretary from August 23, 2012 to April 2014. Mr. Chen served as Deputy General Manager of Guangzhou Shipyard International Company Ltd. He joined Wenchong Shipyard in 1982. He served as Deputy Chief Engineer and Deputy Factory Manager of Wenchong Shipyard and Deputy General Manager of Wenchong Shipyard Company Limited and Deputy General Manager of GSI. He has been Executive Director of CSSC Offshore & Marine Engineering (Group) Company Limited since August 10, 2016. He served as an Executive Director of CSSC Offshore & Marine Engineering (Group) Company Limited (formerly known as Guangzhou Shipyard International Co. Ltd.) until March 18, 2015. Mr. Chen, a Senior Engineer (Professional Level), holding Master Degree, began work in 1976 and graduated from Huanan University of science and technology.

CEO Compensation
  • Liping's compensation has increased whilst company is loss making.
  • Liping's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the CSSC Offshore & Marine Engineering (Group) management team in years:

2.7
Average Tenure
52
Average Age
  • The tenure for the CSSC Offshore & Marine Engineering (Group) management team is about average.
Management Team

Guangde Han

TITLE
Chairman & MD
COMPENSATION
CN¥775K
AGE
56
TENURE
11.9 yrs

Liping Chen

TITLE
GM & Executive Director
COMPENSATION
CN¥783K
AGE
51

Zhongqian Chen

TITLE
Vice Chairman
COMPENSATION
CN¥929K
AGE
55

Ji Chen

TITLE
Executive Director
COMPENSATION
CN¥775K
AGE
51
TENURE
2.7 yrs

Huiming Xiang

TITLE
Executive Director
COMPENSATION
CN¥898K
AGE
52
TENURE
3.9 yrs

Zengquan Hou

TITLE
CFO & Deputy Chief Accountant
AGE
48
TENURE
1.4 yrs

Weihong Xie

TITLE
Head of Accounting Department

Jigang Sheng

TITLE
Executive Director

Zhidong Li

TITLE
Secretary of the Board & Company Secretary
AGE
52
TENURE
2.5 yrs
Board of Directors Tenure

Average tenure and age of the CSSC Offshore & Marine Engineering (Group) board of directors in years:

3
Average Tenure
53
Average Age
  • The tenure for the CSSC Offshore & Marine Engineering (Group) board of directors is about average.
Board of Directors

Guangde Han

TITLE
Chairman & MD
COMPENSATION
CN¥775K
AGE
56
TENURE
5.6 yrs

Liping Chen

TITLE
GM & Executive Director
COMPENSATION
CN¥783K
AGE
51
TENURE
2.7 yrs

Zhongqian Chen

TITLE
Vice Chairman
COMPENSATION
CN¥929K
AGE
55
TENURE
3.8 yrs

Ji Chen

TITLE
Executive Director
COMPENSATION
CN¥775K
AGE
51
TENURE
2.7 yrs

Huiming Xiang

TITLE
Executive Director
COMPENSATION
CN¥898K
AGE
52
TENURE
3.9 yrs

Jigang Sheng

TITLE
Executive Director
TENURE
0.9 yrs

Yichu Wang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥200K
AGE
59
TENURE
3.4 yrs

Guangjun Wu

TITLE
Chairman of Supervisory Committee
AGE
52
TENURE
2.7 yrs

Weiguo Min

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥200K
AGE
53
TENURE
3.4 yrs

Renhuai Liu

TITLE
Independent Non-Executive Director
AGE
78
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
28. Sep 18 Buy China State Shipbuilding Corporation Company 28. Sep 18 28. Sep 18 345,940,890 HK$10.11 HK$3,498,846,386
02. Oct 18 Sell China State Shipbuilding Corporation Company 28. Sep 18 28. Sep 18 -345,940,890 HK$10.11 HK$-3,498,846,386
X
Management checks
We assess CSSC Offshore & Marine Engineering (Group)'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. CSSC Offshore & Marine Engineering (Group) 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.

317 News

Simply Wall St News

Did CSSC Offshore & Marine Engineering (Group) Company Limited (HKG:317) Create Value For Investors Over The Past Year?

and want to learn about Return on Equity using a real-life example. … CSSC Offshore & Marine Engineering (Group) Company Limited’s (HKG:317) most recent return on equity was a substandard 1.05% relative to its industry performance of 7.37% over the past year. … View our latest analysis for CSSC Offshore & Marine Engineering (Group)

Simply Wall St -

July Best Growth Stocks

317’s projected future profit growth is a robust 40.52%, with an underlying 31.88% growth from its revenues expected over the upcoming years. … SEHK:317 Future Profit Jul 28th 18 Sinotrans Shipping Limited (SEHK:368) Sinotrans Shipping Limited, a shipping company, owns, manages, and operates dry bulk and container fleet worldwide. … 368’s projected future profit growth is a robust 33.04%, with an underlying 33.71% growth from its revenues expected over the upcoming years.

Simply Wall St -

What Should Investors Know About CSSC Offshore & Marine Engineering (Group) Company Limited's (HKG:317) Profit Margin?

CSSC Offshore & Marine Engineering (Group) Company Limited (HKG:317) to … earnings growth of 37.56% annualised

Simply Wall St -

Is CSSC Offshore & Marine Engineering (Group) Company Limited (HKG:317) A Financially Sound Company?

Mid-caps stocks, like CSSC Offshore & Marine Engineering (Group) Company Limited (HKG:317) with a market capitalization of HK$17.87b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … Despite this, commonly overlooked mid-caps have historically produced better risk-adjusted returns than their small and large-cap counterparts. … View out our latest analysis for CSSC Offshore & Marine Engineering (Group)

Simply Wall St -

When Should You Buy CSSC Offshore & Marine Engineering (Group) Company Limited (HKG:317)?

A question to answer is whether CSSC Offshore & Marine Engineering (Group)'s current trading price of HK$8.84 reflective of the actual value of the? … Let’s take a look at CSSC Offshore & Marine Engineering (Group)’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change? … What's the opportunity in CSSC Offshore & Marine Engineering (Group)

Simply Wall St -

CSSC Offshore & Marine Engineering (Group) And Other Great Growth Stocks

317’s projected future profit growth is a robust 40.37%, with an underlying 34.23% growth from its revenues expected over the upcoming years. … SEHK:317 Future Profit Jun 1st 18 China Everbright Greentech Limited (SEHK:1257) China Everbright Greentech Limited, an investment holding company, engages in the design, construction, operation, and maintenance of integrated biomass and waste-to-energy projects in China. … SEHK:1257 Future Profit Jun 1st 18 China Education Group Holdings Limited (SEHK:839) China Education Group Holdings Limited, an investment holding company, operates private higher and vocational education institutions in the People's Republic of China.

Simply Wall St -

317 Company Info

Description

CSSC Offshore & Marine Engineering (Group) Company Limited operates in the shipbuilding industry. It designs, manufactures, and repairs ships, electrical and general machinery, and steel structures; manufactures equipment for railways, ships, aerospace, and other transportation facilities, as well as ship equipment and electric motors; produces and sells elevators; installs, welds, fits, coats, and repairs of hull structure; and develops software, system integration, hardware sales, etc. The company designs, processes, installs, and sells ships auxiliary machines, mechanical, electrical, and wind power generation equipment, shearing shield and injection moulding machines, hydraulic machinery, and metal structures, as well as cast and forged components, fiberglass, furniture, marine cables, pipelines, tools, and engineering equipment. It engages in the tourism and catering, property management, general trading, and ferrous metal smelting and rolling; and repair, debugging, and maintenance of shipboard equipment and systems. The company provides cleaning, collection, and transport services for municipal solid waste; air pollution and sewage treatment; and recycling and wholesale of regenerated materials. It offers human resources development and management consulting; professional intermediary; personnel leasing, training, and recommendation; and ship and metal structure design, engineering, and technical consulting services. The company engages in the gas operation; wholesale of petroleum products; and selling of fuel, white oil, asphalt, and related products. It has operations in the People’s Republic of China, other regions in Asia, Europe, Oceania, North America, Africa, and South America. The company was formerly known as Guangzhou Shipyard International Company Limited and changed its name to CSSC Offshore & Marine Engineering (Group) Company Limited in June 2015. The company was founded in 1954 and is headquartered in Guangzhou, the People’s Republic of China.

Details
Name: CSSC Offshore & Marine Engineering (Group) Company Limited
317
Exchange: SEHK
Founded: 1954
HK$24,015,633,561
1,413,506,378
Website: http://comec.cssc.net.cn
Address: CSSC Offshore & Marine Engineering (Group) Company Limited
40 South Fangcun Main Road,
Liwan District,
Guangzhou,
Guangdong Province, 510382,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 317 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 03. Sep 1993
DB GSZ Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 03. Sep 1993
SHSC 317 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 03. Sep 1993
SZSC 317 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 03. Sep 1993
SHSE 600685 Domestic Shares Shanghai Stock Exchange CN CNY 27. Jun 1994
XSSC 600685 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 27. Jun 1994
Number of employees
Current staff
Staff numbers
15,810
CSSC Offshore & Marine Engineering (Group) employees.
Industry
Construction Machinery and Heavy Trucks
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 12:40
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/08
Last earnings filing: 2019/03/22
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.