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Clifford Modern Living Holdings

SEHK:3686
Snowflake Description

Flawless balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3686
SEHK
HK$700M
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Clifford Modern Living Holdings Limited, an investment holding company, primarily provides retail services in the People’s Republic of China. The last earnings update was 90 days ago. More info.


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3686 Share Price and Events
7 Day Returns
8.1%
SEHK:3686
0.3%
HK Industrials
1.5%
HK Market
1 Year Returns
13.6%
SEHK:3686
-5.6%
HK Industrials
-4.7%
HK Market
3686 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Clifford Modern Living Holdings (3686) 8.1% 21.8% 9.8% 13.6% - -
HK Industrials 0.3% 1.9% -9% -5.6% -5.1% -29.9%
HK Market 1.5% 3.9% -8.2% -4.7% 18.3% 3.4%
1 Year Return vs Industry and Market
  • 3686 outperformed the Industrials industry which returned -5.6% over the past year.
  • 3686 outperformed the Market in Hong Kong which returned -4.7% over the past year.
Price Volatility
3686
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Clifford Modern Living Holdings's competitors could be found in our database.

3686 Value

 Is Clifford Modern Living 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 Clifford Modern Living 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 Clifford Modern Living Holdings.

SEHK:3686 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 7.5%
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:3686
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Industrials Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.888 (1 + (1- 25%) (0%))
0.925
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.925 * 5.96%)
7.52%

Discounted Cash Flow Calculation for SEHK:3686 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Clifford Modern Living 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:3686 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 7.52%)
2020 96.27 Est @ 11.85% 89.54
2021 104.84 Est @ 8.89% 90.69
2022 111.99 Est @ 6.83% 90.11
2023 118.02 Est @ 5.38% 88.32
2024 123.17 Est @ 4.37% 85.73
2025 127.68 Est @ 3.66% 82.65
2026 131.71 Est @ 3.16% 79.30
2027 135.42 Est @ 2.81% 75.83
2028 138.90 Est @ 2.57% 72.35
2029 142.23 Est @ 2.4% 68.90
Present value of next 10 years cash flows CN¥823.42
SEHK:3686 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥142.23 × (1 + 2%) ÷ (7.52% – 2%)
CN¥2,631.28
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥2,631.28 ÷ (1 + 7.52%)10
CN¥1,274.69
SEHK:3686 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥823.42 + CN¥1,274.69
CN¥2,098.12
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥2,098.12 / 1,015.20
CN¥2.07
SEHK:3686 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:3686)
1.137
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥2.07 x 1.137
HK$2.35
Value per share (HKD) From above. HK$2.35
Current discount Discount to share price of HK$0.67
= -1 x (HK$0.67 - HK$2.35) / HK$2.35
71.5%

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

Current Discount
Amount off the current price Clifford Modern Living Holdings is available for.
Intrinsic value
>50%
Share price is HK$0.67 vs Future cash flow value of HK$2.35
Current Discount Checks
For Clifford Modern Living Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Clifford Modern Living Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Clifford Modern Living 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 Clifford Modern Living Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Clifford Modern Living Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:3686 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.07
SEHK:3686 Share Price ** SEHK (2019-07-17) in HKD HK$0.67
SEHK:3686 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥0.59
Hong Kong Industrials Industry PE Ratio Median Figure of 12 Publicly-Listed Industrials Companies 6.91x
Hong Kong Market PE Ratio Median Figure of 1,510 Publicly-Listed Companies 10.75x

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

** Primary Listing of Clifford Modern Living Holdings.

SEHK:3686 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3686 Share Price ÷ EPS (both in CNY)

= 0.59 ÷ 0.07

8.21x

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

  • Clifford Modern Living Holdings is overvalued based on earnings compared to the HK Industrials industry average.
  • Clifford Modern Living Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Clifford Modern Living Holdings's expected growth come at a high price?
Raw Data
SEHK:3686 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.21x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-11.4%per year
Hong Kong Industrials Industry PEG Ratio Median Figure of 6 Publicly-Listed Industrials Companies 1.07x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.8x

*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 Clifford Modern Living Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Clifford Modern Living Holdings's assets?
Raw Data
SEHK:3686 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥0.32
SEHK:3686 Share Price * SEHK (2019-07-17) in HKD HK$0.67
SEHK:3686 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥0.59
Hong Kong Industrials Industry PB Ratio Median Figure of 14 Publicly-Listed Industrials Companies 0.6x
Hong Kong Market PB Ratio Median Figure of 2,197 Publicly-Listed Companies 0.92x
SEHK:3686 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3686 Share Price ÷ Book Value per Share (both in CNY)

= 0.59 ÷ 0.32

1.86x

* Primary Listing of Clifford Modern Living Holdings.

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

  • Clifford Modern Living Holdings is overvalued based on assets compared to the HK Industrials industry average.
X
Value checks
We assess Clifford Modern Living 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 Industrials 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 Industrials industry average (and greater than 0)? (1 check)
  5. Clifford Modern Living 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.

3686 Future Performance

 How is Clifford Modern Living Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Clifford Modern Living Holdings, future earnings growth has been estimated based on fundamentals.
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
-11.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Clifford Modern Living Holdings expected to grow at an attractive rate?
  • Clifford Modern Living Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2%.
Growth vs Market Checks
  • Clifford Modern Living Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • Unable to compare Clifford Modern Living Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:3686 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:3686 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -11.4%
Hong Kong Industrials Industry Earnings Growth Rate Market Cap Weighted Average 5.3%
Hong Kong Industrials Industry Revenue Growth Rate Market Cap Weighted Average 7.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average -7.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*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:3686 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:3686 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:3686 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 342 96 72
2018-06-30 379 60 72
2018-03-31 372 67 64
2017-12-31 365 75 56
2017-09-30 363 81 46
2017-06-30 360 87 36
2017-03-31 344 80 31
2016-12-31 327 73 25

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Clifford Modern Living Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Clifford Modern Living Holdings is high growth as no revenue estimate data is available.
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:3686 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 0 Analyst Estimates (S&P Global) See Below

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

SEHK:3686 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:3686 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.07
2018-06-30 0.07
2018-03-31 0.06
2017-12-31 0.06
2017-09-30 0.05
2017-06-30 0.04
2017-03-31 0.04
2016-12-31 0.03

*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.
  • Unable to establish if Clifford Modern Living Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Clifford Modern Living 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.
Clifford Modern Living Holdings has a total score of 0/6, 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.

3686 Past Performance

  How has Clifford Modern Living 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 Clifford Modern Living Holdings's growth in the last year to its industry (Industrials).
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.
  • Clifford Modern Living Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Clifford Modern Living Holdings's 1-year earnings growth exceeds its 5-year average (28.6% vs 20.4%)
  • Clifford Modern Living Holdings's earnings growth has exceeded the HK Industrials industry average in the past year (28.6% vs 8.8%).
Earnings and Revenue History
Clifford Modern Living 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 Clifford Modern Living Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3686 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 341.63 72.44 65.96
2018-06-30 378.61 72.45 67.72
2018-03-31 372.00 64.39 68.66
2017-12-31 365.39 56.33 69.61
2017-09-30 362.85 46.33 77.23
2017-06-30 360.32 36.33 84.84
2017-03-31 343.76 30.68 83.86
2016-12-31 327.20 25.02 82.87
2015-12-31 261.11 34.85 44.54
2014-12-31 236.84 29.59 39.14
2013-12-31 227.13 27.89 34.42

*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.
  • Clifford Modern Living Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Clifford Modern Living Holdings used its assets more efficiently than the HK Industrials industry average last year based on Return on Assets.
  • Clifford Modern Living Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Clifford Modern Living 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 Industrials 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.
Clifford Modern Living Holdings has a total score of 5/6, 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.

3686 Health

 How is Clifford Modern Living 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 Clifford Modern Living Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Clifford Modern Living Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Clifford Modern Living Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Clifford Modern Living 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.
  • Low level of unsold assets.
  • Clifford Modern Living Holdings has no debt, it does not need to be covered by short term assets.
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 Clifford Modern Living Holdings Company Filings, last reported 6 months ago.

SEHK:3686 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 322.15 0.00 336.67
2018-06-30 285.24 0.00 284.87
2018-03-31 285.24 0.00 284.87
2017-12-31 256.02 0.00 249.27
2017-09-30 256.02 0.00 249.27
2017-06-30 211.49 0.00 234.35
2017-03-31 211.49 0.00 234.35
2016-12-31 228.02 3.72 215.06
2015-12-31 98.98 13.33 101.29
2014-12-31 80.07 0.11 80.67
2013-12-31 57.92 1.50 49.30
  • Clifford Modern Living Holdings has no debt.
  • Clifford Modern Living Holdings has no debt compared to 5 years ago when it was 2.6%.
  • Clifford Modern Living Holdings has no debt, it does not need to be covered by operating cash flow.
  • Clifford Modern Living Holdings has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Clifford Modern Living 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. Clifford Modern Living 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.

3686 Dividends

 What is Clifford Modern Living 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
3.19%
Current annual income from Clifford Modern Living Holdings dividends.
If you bought HK$2,000 of Clifford Modern Living Holdings shares you are expected to receive HK$64 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?
  • Clifford Modern Living Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Clifford Modern Living Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.75%).
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:3686 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 0 Analyst Estimates (S&P Global) See Below
Hong Kong Industrials Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 4%
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:3686 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
SEHK:3686 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-18 0.019 3.812

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

  • It is too early to tell whether Clifford Modern Living Holdings has stable dividend payments.
  • Clifford Modern Living Holdings only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Clifford Modern Living 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
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Clifford Modern Living 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 Clifford Modern Living Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Clifford Modern Living 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.

3686 Management

 What is the CEO of Clifford Modern Living 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
Wendy Man
COMPENSATION CN¥186,000
AGE 60
TENURE AS CEO 0.8 years
CEO Bio

Ms. Lai Hung Man, also known as Wendy, serves as Chairman at Clifford Modern Living Holdings Limited since January 6, 2016, and has been its CEO & Executive Director since October 1, 2018. She was its Executive Director since January 6, 2016 until April 2018. Ms. Man is primarily responsible for strategic planning and direction and overall performance of Group. Ms. Man was appointed as the Honorary Chairman of Baise City Education Fund in November 2014 and was one of the winners of the Fourth Outstanding Entrepreneur Social Responsibility Award organised by The Mirror in Hong Kong in March 2015. Ms. Man serves as the founding member of the “Business for Social Good Platform organized by Hong Kong Foundation since July 2016. Ms. Man first joined the Private Group in around 1990. Over the years, she has accumulated extensive experience in administration and management in businesses comprising property development, property management, retail, catering, education and other ancillary living services. Ms. Man is a director in various members of the Private Group in which she has assumed only a non-executive role since her founding of the Group. She serves as the Vice President of the Fourteenth Executive Committee of the Guangzhou Chamber of Commerce and the vice chairman of the Ninth Standing Committee of the Chamber of Commerce of Guangzhou Foreign Investment Enterprises. She was Non-Executive director of Clifford Modern Living Holdings Limited since April 2018 until October 1, 2018. Ms. Man obtained a degree of Bachelor of Business Administration from The Chinese University of Hong Kong in December 1982.

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

Average tenure and age of the Clifford Modern Living Holdings management team in years:

0.8
Average Tenure
51
Average Age
  • The average tenure for the Clifford Modern Living Holdings management team is less than 2 years, this suggests a new team.
Management Team

Wendy Man

TITLE
Chairman & CEO
COMPENSATION
CN¥186K
AGE
60
TENURE
0.8 yrs

Anthony Yu

TITLE
CFO & Company Secretary
AGE
34
TENURE
0.6 yrs

Yuhua Liang

TITLE
COO & Executive Director
COMPENSATION
CN¥1M
AGE
54
TENURE
3.5 yrs

Suk Mee Ho

TITLE
Executive Director & Marketing Director
COMPENSATION
CN¥490K
AGE
51

MingXia Pang

TITLE
General Manager of Human Resources
AGE
38
Board of Directors Tenure

Average tenure and age of the Clifford Modern Living Holdings board of directors in years:

2.8
Average Tenure
60
Average Age
  • The average tenure for the Clifford Modern Living Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Wendy Man

TITLE
Chairman & CEO
COMPENSATION
CN¥186K
AGE
60
TENURE
3.5 yrs

Yuhua Liang

TITLE
COO & Executive Director
COMPENSATION
CN¥1M
AGE
54
TENURE
3.5 yrs

Suk Mee Ho

TITLE
Executive Director & Marketing Director
COMPENSATION
CN¥490K
AGE
51
TENURE
0.6 yrs

Elizabeth Law

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥177K
AGE
65
TENURE
2.8 yrs

Wah Cheung Mak

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥177K
AGE
69
TENURE
2.8 yrs

Xing Liu

TITLE
Non-Executive Director
COMPENSATION
CN¥177K
AGE
56
TENURE
3.5 yrs

Cham Ho

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥177K
AGE
62
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • Clifford Modern Living Holdings individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
12. Jul 19 Sell Cham Ho Individual 11. Jul 19 11. Jul 19 -600,000 HK$0.70 HK$-420,001
09. Jul 19 Buy Cham Ho Individual 08. Jul 19 08. Jul 19 100,000 HK$0.59 HK$59,000
27. Mar 19 Buy Cham Ho Individual 26. Mar 19 26. Mar 19 100,000 HK$0.65 HK$65,000
27. Mar 19 Buy Cham Ho Individual 25. Mar 19 25. Mar 19 400,000 HK$0.65 HK$260,001
18. Sep 18 Sell Chew Kuan Leong Individual 12. Sep 18 12. Sep 18 -10,000 HK$0.59 HK$-5,900
X
Management checks
We assess Clifford Modern Living 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. Clifford Modern Living 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.

3686 News

Simply Wall St News

Has Clifford Modern Living Holdings Limited (HKG:3686) Improved Earnings Growth In Recent Times?

Check out our latest analysis for Clifford Modern Living Holdings Did 3686 beat its long-term earnings growth trend and its industry? … While Clifford Modern Living Holdings has a good historical track record with positive growth and profitability, there's no certainty that this will extrapolate into the future. … I recommend you continue to research Clifford Modern Living Holdings to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for 3686’s future growth?

Simply Wall St -

How Clifford Modern Living Holdings Limited (HKG:3686) Could Add Value To Your Portfolio

For those interested in understanding where the figures come from and want to see the analysis, read the full report on Clifford Modern Living Holdings here. … SEHK:3686 Income Statement, July 4th 2019 Next Steps: For Clifford Modern Living Holdings, I've compiled three pertinent aspects you should further research: Future Outlook: What are well-informed industry analysts predicting for 3686’s future growth? … Take a look at our free research report of analyst consensus for 3686’s outlook.

Simply Wall St -

A Close Look At Clifford Modern Living Holdings Limited’s (HKG:3686) 31% ROCE

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Clifford Modern Living Holdings: 0.31 = CN¥101m ÷ (CN¥442m - CN¥117m) (Based on the trailing twelve months to December 2018.) Therefore, Clifford Modern Living Holdings has an ROCE of 31%. … How Clifford Modern Living Holdings's Current Liabilities Impact Its ROCE Liabilities, such as supplier bills and bank overdrafts, are referred to as current liabilities if they need to be paid within 12 months. … Our Take On Clifford Modern Living Holdings's ROCE With low current liabilities and a high ROCE, Clifford Modern Living Holdings could be worthy of further investigation.

Simply Wall St -

Is Clifford Modern Living Holdings Limited's (HKG:3686) 22% ROE Better Than Average?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Clifford Modern Living Holdings: 22% = CN¥72m ÷ CN¥322m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Clifford Modern Living Holdings Have A Good Return On Equity? … Combining Clifford Modern Living Holdings's Debt And Its 22% Return On Equity Shareholders will be pleased to learn that Clifford Modern Living Holdings has not one iota of net debt!

Simply Wall St -

Imagine Owning Clifford Modern Living Holdings (HKG:3686) And Wondering If The 19% Share Price Slide Is Justified

For example, the Clifford Modern Living Holdings Limited (HKG:3686) share price is down 19% in the last year. … Even though the Clifford Modern Living Holdings share price is down over the year, its EPS actually improved. … This free interactive report on Clifford Modern Living Holdings's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

Simply Wall St -

How Much Of Clifford Modern Living Holdings Limited (HKG:3686) Do Insiders Own?

If you want to know who really controls Clifford Modern Living Holdings Limited (HKG:3686), then you'll have to look at the makeup of its share registry. … Clifford Modern Living Holdings is not a large company by global standards. … Check out our latest analysis for Clifford Modern Living Holdings

Simply Wall St -

Some Clifford Modern Living Holdings (HKG:3686) Shareholders Are Down 16%

Clifford Modern Living Holdings Limited (HKG:3686) shareholders should be happy to see the share price up 13% in the last quarter. … During the unfortunate twelve months during which the Clifford Modern Living Holdings share price fell, it actually saw its earnings per share (EPS) improve by 28%. … If the market sees the weak revenue as jeopardising EPS, that could explain the lower share price.

Simply Wall St -

How Does Clifford Modern Living Holdings Limited's (HKG:3686) Earnings Growth Stack Up Against Industry Performance?

When Clifford Modern Living Holdings Limited (HKG:3686) released its most recent earnings update (31 December 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Being able to interpret how well Clifford Modern Living Holdings has done so far requires weighing its performance against a benchmark, rather than looking at a standalone number at a point in time. … See our latest analysis for Clifford Modern Living Holdings?

Simply Wall St -

Is Clifford Modern Living Holdings Limited (HKG:3686) A High Quality Stock To Own?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Clifford Modern Living Holdings Limited (HKG:3686). … Our data shows Clifford Modern Living Holdings has a return on equity of 25% for the last year. … See our latest analysis for Clifford Modern Living Holdings?

Simply Wall St -

Should We Worry About Clifford Modern Living Holdings Limited's (HKG:3686) P/E Ratio?

To keep it practical, we'll show how Clifford Modern Living Holdings Limited's (HKG:3686) P/E ratio could help you assess the value on offer. … Clifford Modern Living Holdings has a P/E ratio of 7.4, based on the last twelve months. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS)

Simply Wall St -

3686 Company Info

Description

Clifford Modern Living Holdings Limited, an investment holding company, primarily provides retail services in the People’s Republic of China. It operates through five segments: Property Management Services, Retail Services, Catering Services, Information Technology Services, and Ancillary Living Services. The company operates 2 supermarkets, 1 wet market, and 12 convenience stores under the Clifford Supermarket, Ni Wo Ta Convenience Store, and Dailey’s Mart names located in Clifford Estates and other areas. It also offers general property management and resident support services under the Clifford brand to 15 residential communities and 3 commercial properties. In addition, the company operates casual dining restaurants, East Asian and Western restaurants, and cafés located in Clifford Estates and other areas. Further, it provides information technology and related engineering services; security systems, and hardware and software integration, as well as telecommunication services; and off-campus training, property agency, employment placement, laundry, and construction and household services. The company was founded in 1998 and is headquartered in Guangzhou, the People’s Republic of China.

Details
Name: Clifford Modern Living Holdings Limited
3686
Exchange: SEHK
Founded: 1998
HK$700,488,000
1,015,200,000
Website: http://www.cliffordmodernliving.com
Address: Clifford Modern Living Holdings Limited
8 Shiguang Road,
Panyu,
Guangzhou,
Guangdong Province, 511496,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3686 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 08. Nov 2016
Number of employees
Current staff
Staff numbers
638
Clifford Modern Living Holdings employees.
Industry
Industrial Conglomerates
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 13:00
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/03/22
Last earnings filing: 2019/04/18
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.