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3311

China State Construction International Holdings SEHK:3311 Stock Report

Last Price

HK$8.29

Market Cap

HK$41.8b

7D

2.2%

1Y

56.1%

Updated

27 Jun, 2022

Data

Company Financials +
3311 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth2/6
Past Performance4/6
Financial Health3/6
Dividends3/6

3311 Stock Overview

China State Construction International Holdings Limited, an investment holding company, engages in the construction business in Hong Kong, Mainland China, Macau, and internationally.

China State Construction International Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for China State Construction International Holdings
Historical stock prices
Current Share PriceHK$8.29
52 Week HighHK$11.14
52 Week LowHK$4.72
Beta0.92
1 Month Change-14.09%
3 Month Change-18.41%
1 Year Change56.12%
3 Year Change2.98%
5 Year Change-36.72%
Change since IPO3,249.50%

Recent News & Updates

Jun 05
China State Construction International Holdings (HKG:3311) Is Increasing Its Dividend To HK$0.20

China State Construction International Holdings (HKG:3311) Is Increasing Its Dividend To HK$0.20

China State Construction International Holdings Limited ( HKG:3311 ) has announced that it will be increasing its...

May 30
Is China State Construction International Holdings Limited (HKG:3311) Potentially Undervalued?

Is China State Construction International Holdings Limited (HKG:3311) Potentially Undervalued?

China State Construction International Holdings Limited ( HKG:3311 ), is not the largest company out there, but it saw...

May 12
China State Construction International Holdings (HKG:3311) Is Increasing Its Dividend To HK$0.20

China State Construction International Holdings (HKG:3311) Is Increasing Its Dividend To HK$0.20

The board of China State Construction International Holdings Limited ( HKG:3311 ) has announced that it will be...

Shareholder Returns

3311HK ConstructionHK Market
7D2.2%-0.5%2.1%
1Y56.1%1.9%-23.3%

Return vs Industry: 3311 exceeded the Hong Kong Construction industry which returned 1.9% over the past year.

Return vs Market: 3311 exceeded the Hong Kong Market which returned -23.3% over the past year.

Price Volatility

Is 3311's price volatile compared to industry and market?
3311 volatility
3311 Average Weekly Movement5.7%
Construction Industry Average Movement6.9%
Market Average Movement7.0%
10% most volatile stocks in HK Market13.8%
10% least volatile stocks in HK Market3.3%

Stable Share Price: 3311 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 3311's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
197913,615Haipeng Zhanghttps://www.csci.com.hk

China State Construction International Holdings Limited, an investment holding company, engages in the construction business in Hong Kong, Mainland China, Macau, and internationally. It constructs public and private residences, commercial and industrial housing, medical institutions, educational and cultural facilities, hotels, and public constructions. The company also undertakes civil engineering projects, such as site formation, roads, bridges, reclamation, and tunnels; and piling, mechanical, and electrical engineering works.

China State Construction International Holdings Fundamentals Summary

How do China State Construction International Holdings's earnings and revenue compare to its market cap?
3311 fundamental statistics
Market CapHK$41.76b
Earnings (TTM)HK$6.80b
Revenue (TTM)HK$77.31b

6.1x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
3311 income statement (TTM)
RevenueHK$77.31b
Cost of RevenueHK$65.33b
Gross ProfitHK$11.98b
Other ExpensesHK$5.18b
EarningsHK$6.80b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.35
Gross Margin15.50%
Net Profit Margin8.80%
Debt/Equity Ratio111.8%

How did 3311 perform over the long term?

See historical performance and comparison

Dividends

4.9%

Current Dividend Yield

30%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 3311 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3311?

Other financial metrics that can be useful for relative valuation.

3311 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.2x
Enterprise Value/EBITDA9.1x
PEG Ratio0.5x

Price to Earnings Ratio vs Peers

How does 3311's PE Ratio compare to its peers?

3311 PE Ratio vs Peers
The above table shows the PE ratio for 3311 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average5.6x
3996 China Energy Engineering
6.1x13.5%HK$45.0b
1799 Xinte Energy
5.9x-11.3%HK$34.0b
552 China Communications Services
6.5x10.2%HK$24.1b
586 China Conch Venture Holdings
3.9x1.5%HK$31.8b
3311 China State Construction International Holdings
6.1x13.5%HK$41.8b

Price-To-Earnings vs Peers: 3311 is expensive based on its Price-To-Earnings Ratio (6.1x) compared to the peer average (5.6x).


Price to Earnings Ratio vs Industry

How does 3311's PE Ratio compare vs other companies in the HK Construction Industry?

Price-To-Earnings vs Industry: 3311 is good value based on its Price-To-Earnings Ratio (6.1x) compared to the Hong Kong Construction industry average (12.4x)


Price to Earnings Ratio vs Fair Ratio

What is 3311's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

3311 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.1x
Fair PE Ratio8.8x

Price-To-Earnings vs Fair Ratio: 3311 is good value based on its Price-To-Earnings Ratio (6.1x) compared to the estimated Fair Price-To-Earnings Ratio (8.8x).


Share Price vs Fair Value

What is the Fair Price of 3311 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3311 (HK$8.29) is trading below our estimate of fair value (HK$8.69)

Significantly Below Fair Value: 3311 is trading below fair value, but not by a significant amount.


Price to Earnings Growth Ratio

PEG Ratio: 3311 is good value based on its PEG Ratio (0.5x)


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Future Growth

How is China State Construction International Holdings forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


13.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3311's forecast earnings growth (13.5% per year) is above the savings rate (1.5%).

Earnings vs Market: 3311's earnings (13.5% per year) are forecast to grow slower than the Hong Kong market (16.9% per year).

High Growth Earnings: 3311's earnings are forecast to grow, but not significantly.

Revenue vs Market: 3311's revenue (13.7% per year) is forecast to grow faster than the Hong Kong market (10.3% per year).

High Growth Revenue: 3311's revenue (13.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 3311's Return on Equity is forecast to be low in 3 years time (13.7%).


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Past Performance

How has China State Construction International Holdings performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


5.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 3311 has high quality earnings.

Growing Profit Margin: 3311's current net profit margins (8.8%) are lower than last year (9.6%).


Past Earnings Growth Analysis

Earnings Trend: 3311's earnings have grown by 5% per year over the past 5 years.

Accelerating Growth: 3311's earnings growth over the past year (13.1%) exceeds its 5-year average (5% per year).

Earnings vs Industry: 3311 earnings growth over the past year (13.1%) exceeded the Construction industry -1.2%.


Return on Equity

High ROE: 3311's Return on Equity (11.2%) is considered low.


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Financial Health

How is China State Construction International Holdings's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 3311's short term assets (HK$114.0B) exceed its short term liabilities (HK$92.9B).

Long Term Liabilities: 3311's short term assets (HK$114.0B) exceed its long term liabilities (HK$60.1B).


Debt to Equity History and Analysis

Debt Level: 3311's net debt to equity ratio (73.3%) is considered high.

Reducing Debt: 3311's debt to equity ratio has increased from 82.7% to 111.8% over the past 5 years.

Debt Coverage: 3311's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: 3311's interest payments on its debt are well covered by EBIT (4.5x coverage).


Balance Sheet


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Dividend

What is China State Construction International Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


4.95%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 3311's dividend (4.95%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.75%).

High Dividend: 3311's dividend (4.95%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.9%).


Stability and Growth of Payments

Stable Dividend: 3311's dividend payments have been volatile in the past 10 years.

Growing Dividend: 3311's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (30%), 3311's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: 3311 is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

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

3.7yrs

Average management tenure


CEO

Haipeng Zhang (46 yo)

3.83yrs

Tenure

HK$7,578,000

Compensation

Mr. Haipeng Zhang has been Non-Executive Chairman of China State Construction Development Holdings Limited since August 18, 2018. Mr. Zhang joined CSCGL in 2000 and was seconded to CSCIHL in 2002. Mr. Zhan...


CEO Compensation Analysis

Compensation vs Market: Haipeng's total compensation ($USD965.45K) is above average for companies of similar size in the Hong Kong market ($USD626.60K).

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


Leadership Team

Experienced Management: 3311's management team is considered experienced (3.7 years average tenure).


Board Members

Experienced Board: 3311's board of directors are seasoned and experienced ( 11 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

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


Top Shareholders

Company Information

China State Construction International Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: China State Construction International Holdings Limited
  • Ticker: 3311
  • Exchange: SEHK
  • Founded: 1979
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Implied Market Cap: HK$41.762b
  • Shares outstanding: 5.04b
  • Website: https://www.csci.com.hk

Number of Employees


Location

  • China State Construction International Holdings Limited
  • China Overseas Building
  • 28th Floor
  • Wan Chai
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/27 00:00
End of Day Share Price2022/06/27 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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