China State Construction International Holdings
Market Cap
HK$33.1b
Last Updated
2020/02/27 12:45 UTC
Data Sources
Company Financials +
Executive Summary
China State Construction International Holdings Limited, an investment holding company, engages in the construction business in Hong Kong, Mainland China, Macau, and internationally.
Rewards
Risk Analysis
Snowflake Analysis
Very undervalued average dividend payer.
Share Price & News
How has China State Construction International Holdings's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 3311 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-7.0%
3311
-1.2%
HK Construction
-3.3%
HK Market
1 Year Return
-22.9%
3311
-28.4%
HK Construction
-9.6%
HK Market
Return vs Industry: 3311 exceeded the Hong Kong Construction industry which returned -28.4% over the past year.
Return vs Market: 3311 underperformed the Hong Kong Market which returned -9.6% over the past year.
Shareholder returns
| 3311 | Industry | Market | |
|---|---|---|---|
| 7 Day | -7.0% | -1.2% | -3.3% |
| 30 Day | -9.1% | -3.7% | -3.8% |
| 90 Day | 3.7% | -4.3% | -0.2% |
| 1 Year | -20.1%-22.9% | -24.9%-28.4% | -6.3%-9.6% |
| 3 Year | -47.0%-52.2% | -37.6%-44.3% | 11.2%-0.05% |
| 5 Year | -32.0%-42.1% | -26.0%-36.9% | 12.7%-6.0% |
Price Volatility Vs. Market
How volatile is China State Construction International Holdings's share price compared to the market and industry in the last 5 years?
Simply Wall St News
Valuation
Is China State Construction International Holdings undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 3311 (HK$6.4) is trading below our estimate of fair value (HK$23.81)
Significantly Below Fair Value: 3311 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 3311 is good value based on its PE Ratio (6.7x) compared to the Construction industry average (8.6x).
PE vs Market: 3311 is good value based on its PE Ratio (6.7x) compared to the Hong Kong market (9.8x).
Price to Earnings Growth Ratio
PEG Ratio: 3311 is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: 3311 is good value based on its PB Ratio (0.7x) compared to the HK Construction industry average (1x).
Next Steps
Future Growth
How is China State Construction International Holdings forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?
14.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 3311's forecast earnings growth (14.5% per year) is above the savings rate (1.6%).
Earnings vs Market: 3311's earnings (14.5% per year) are forecast to grow faster than the Hong Kong market (11.8% per year).
High Growth Earnings: 3311's earnings are forecast to grow, but not significantly.
Revenue vs Market: 3311's revenue (12.2% per year) is forecast to grow faster than the Hong Kong market (9.8% per year).
High Growth Revenue: 3311's revenue (12.2% 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 (14.2%).
Next Steps
Past Performance
How has China State Construction International Holdings performed over the past 5 years?
8.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 3311 has high quality earnings.
Growing Profit Margin: 3311's current net profit margins (8.6%) are lower than last year (10.2%).
Past Earnings Growth Analysis
Earnings Trend: 3311's earnings have grown by 8.2% per year over the past 5 years.
Accelerating Growth: 3311's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: 3311 had negative earnings growth (-12.3%) over the past year, making it difficult to compare to the Construction industry average (-2.9%).
Return on Equity
High ROE: 3311's Return on Equity (11.1%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is China State Construction International Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: 3311's short term assets (HK$67.3B) exceed its short term liabilities (HK$60.3B).
Long Term Liabilities: 3311's short term assets (HK$67.3B) exceed its long term liabilities (HK$40.8B).
Debt to Equity History and Analysis
Debt Level: 3311's debt to equity ratio (102.2%) is considered high.
Reducing Debt: 3311's debt to equity ratio has increased from 87.5% to 102.2% over the past 5 years.
Debt Coverage: 3311's debt is not well covered by operating cash flow (1.4%).
Interest Coverage: 3311's interest payments on its debt are well covered by EBIT (4.4x coverage).
Balance Sheet
Inventory Level: 3311 has a low level of unsold assets or inventory.
Debt Coverage by Assets: 3311's debt is covered by short term assets (assets are 1.4x debt).
Next Steps
Dividend
What is China State Construction International Holdings's current dividend yield, its reliability and sustainability?
4.38%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: 3311's dividend (4.38%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.34%).
High Dividend: 3311's dividend (4.38%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.42%).
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.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (29.2%), 3311's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 3311's dividends in 3 years are forecast to be well covered by earnings (30% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.3yrs
Average management tenure
CEO
Haipeng Zhang (43yo)
1.5yrs
Tenure
HK$5,627,000
Compensation
Mr. Haipeng Zhang has been Non-Executive Chairman of China State Construction Development Holdings Limited since August 18, 2018. Mr. Zhang joined CSCGL in 2000 and was seconded to CSCIHL in 2002. Mr. Zhan ...
CEO Compensation Analysis
Compensation vs Market: Haipeng's total compensation ($USD721.98K) is about average for companies of similar size in the Hong Kong market ($USD557.38K).
Compensation vs Earnings: Haipeng's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 1.5yrs | HK$5.63m | no data | |
| Financial Controller & Executive Director | 15.8yrs | HK$4.29m | 0.058% HK$19.2m | |
| VP & Executive Director | 9.5yrs | HK$4.64m | no data | |
| VP & Executive Director | 8.7yrs | HK$5.96m | 0.012% HK$3.9m | |
| General Manager of Corporate Finance | 1.3yrs | no data | no data | |
| Company Secretary | 0.5yrs | no data | no data | |
| Assistant General Manager of China State Construction Engineering (Hong Kong) Limited | 0yrs | no data | no data |
1.3yrs
Average Tenure
51yo
Average Age
Experienced Management: 3311's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 1.5yrs | HK$5.63m | no data | |
| Financial Controller & Executive Director | 15.8yrs | HK$4.29m | 0.058% HK$19.2m | |
| VP & Executive Director | 9.5yrs | HK$4.64m | no data | |
| VP & Executive Director | 8.7yrs | HK$5.96m | 0.012% HK$3.9m | |
| Independent Non-Executive Director | 14.7yrs | HK$360.00k | 0.020% HK$6.7m | |
| Independent Non-Executive Director | 14.7yrs | HK$250.00k | 0.016% HK$5.3m | |
| Independent Non-Executive Director | 14.4yrs | HK$360.00k | 0.020% HK$6.7m | |
| Honorary Chairman | 0yrs | no data | no data | |
| Chairman | 0.9yrs | no data | no data |
12.0yrs
Average Tenure
52.5yo
Average Age
Experienced Board: 3311's board of directors are seasoned and experienced ( 12 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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3%.
Top Shareholders
Company Information
China State Construction International Holdings Limited's company bio, 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
- Market Cap: HK$33.122b
- Shares outstanding: 5.05b
- Website: https://www.csci.com.hk
Number of Employees
Location
- China State Construction International Holdings Limited
- China Overseas Building
- 28th Floor
- Wanchai
- Hong Kong
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| C4S1 | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jul 2005 |
| 3311 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Ordinary Shares | HK | HKD | Jul 2005 |
| CCOH.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jul 2005 |
| 3311 | SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect) | Yes | Ordinary Shares | HK | HKD | Jul 2005 |
| 3311 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Ordinary Shares | HK | HKD | Jul 2005 |
| CCOH.Y | OTCPK (Pink Sheets LLC) | UNSPONSORD ADR | US | USD | Apr 2009 |
Biography
China State Construction International Holdings Limited, an investment holding company, engages in the construction business in Hong Kong, Mainland China, Macau, and internationally. It builds public and private housings; buildings for the government and other institutions; commercial and industrial buildings, and hotels; and other building projects. The company also operates as a contractor in civil engineering works comprising general roads and drainage works, site formation, port works/reclamation, water and sewage treatment plants, bridges construction, tunnels, waterworks, and other special-function civil projects for the government. In addition, it is involved in undertaking foundation projects for the housing authority and private property developers; electrical and mechanical works for the government and semi-government bodies; and other subcontracted works, as well as site investigation, concrete production, and pre-casting activities. Further, the company provides insurance brokerage, project and construction management, project consultancy, and logistic services; designs, manufactures, and installs curtain walls, aluminum windows, and other related products; sells and distributes construction materials; issues guaranteed notes, as well as leases plant and machinery; generates and supplies heat and electricity; and manufactures and sells precast structures. Additionally, it engages in the marine engineering works and property investment activities; and infrastructure operation and investment, thermoelectricity, toll road operation, and property development and facade contracting businesses. The company was founded in 1979 and is headquartered in Wanchai, Hong Kong. China State Construction International Holdings Limited is a subsidiary of China Overseas Holdings Limited.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/27 12:45 |
| End of Day Share Price | 2020/02/27 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.