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Yat Sing Holdings

SEHK:3708
Snowflake Description

Moderate growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3708
SEHK
HK$861M
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Yat Sing Holdings Limited, an investment holding company, provides building maintenance and renovation services in Hong Kong. The last earnings update was 134 days ago. More info.


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3708 Share Price and Events
7 Day Returns
-2.5%
SEHK:3708
-0.5%
HK Construction
-0.2%
HK Market
1 Year Returns
-45%
SEHK:3708
-11.4%
HK Construction
-4.5%
HK Market
3708 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Yat Sing Holdings (3708) -2.5% -5.5% -3.8% -45% -3.8% -
HK Construction -0.5% -3.6% -14% -11.4% -21.9% -4.9%
HK Market -0.2% 2.7% -8.3% -4.5% 16.5% 1%
1 Year Return vs Industry and Market
  • 3708 underperformed the Construction industry which returned -11.4% over the past year.
  • 3708 underperformed the Market in Hong Kong which returned -4.5% over the past year.
Price Volatility
3708
Industry
5yr Volatility vs Market

Value

 Is Yat Sing 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 Yat Sing 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 Yat Sing Holdings.

SEHK:3708 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 9.2%
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:3708
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Construction Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.035 (1 + (1- 25%) (9.99%))
1.075
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.075 * 6.65%)
9.15%

Discounted Cash Flow Calculation for SEHK:3708 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Yat Sing 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:3708 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 9.15%)
2020 146.54 Est @ 87.42% 134.25
2021 237.10 Est @ 61.8% 199.00
2022 341.08 Est @ 43.86% 262.27
2023 447.85 Est @ 31.3% 315.49
2024 548.67 Est @ 22.51% 354.11
2025 638.42 Est @ 16.36% 377.49
2026 715.37 Est @ 12.05% 387.52
2027 780.02 Est @ 9.04% 387.11
2028 834.06 Est @ 6.93% 379.21
2029 879.51 Est @ 5.45% 366.35
Present value of next 10 years cash flows HK$3,162.81
SEHK:3708 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$879.51 × (1 + 2%) ÷ (9.15% – 2%)
HK$12,547.78
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$12,547.78 ÷ (1 + 9.15%)10
HK$5,226.64
SEHK:3708 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$3,162.81 + HK$5,226.64
HK$8,389.44
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$8,389.44 / 5,594.00
HK$1.5
SEHK:3708 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$1.50
Current discount Discount to share price of HK$0.15
= -1 x (HK$0.15 - HK$1.50) / HK$1.50
89.7%

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

Current Discount
Amount off the current price Yat Sing Holdings is available for.
Intrinsic value
>50%
Share price is HK$0.15 vs Future cash flow value of HK$1.5
Current Discount Checks
For Yat Sing Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Yat Sing Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Yat Sing 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 Yat Sing Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Yat Sing Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:3708 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.00
SEHK:3708 Share Price ** SEHK (2019-07-18) in HKD HK$0.15
Hong Kong Construction Industry PE Ratio Median Figure of 105 Publicly-Listed Construction Companies 10.19x
Hong Kong Market PE Ratio Median Figure of 1,510 Publicly-Listed Companies 10.72x

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

** Primary Listing of Yat Sing Holdings.

SEHK:3708 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3708 Share Price ÷ EPS (both in HKD)

= 0.15 ÷ 0.00

110.39x

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

  • Yat Sing Holdings is overvalued based on earnings compared to the HK Construction industry average.
  • Yat Sing Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Yat Sing Holdings's expected growth come at a high price?
Raw Data
SEHK:3708 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 110.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
24%per year
Hong Kong Construction Industry PEG Ratio Median Figure of 10 Publicly-Listed Construction Companies 0.56x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.79x

*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 Yat Sing Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Yat Sing Holdings's assets?
Raw Data
SEHK:3708 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$0.03
SEHK:3708 Share Price * SEHK (2019-07-18) in HKD HK$0.15
Hong Kong Construction Industry PB Ratio Median Figure of 136 Publicly-Listed Construction Companies 1.37x
Hong Kong Market PB Ratio Median Figure of 2,197 Publicly-Listed Companies 0.92x
SEHK:3708 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3708 Share Price ÷ Book Value per Share (both in HKD)

= 0.15 ÷ 0.03

4.78x

* Primary Listing of Yat Sing Holdings.

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

  • Yat Sing Holdings is overvalued based on assets compared to the HK Construction industry average.
X
Value checks
We assess Yat Sing 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 Construction 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 Construction industry average (and greater than 0)? (1 check)
  5. Yat Sing Holdings has a total score of 2/6, 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.

Future Performance

 How is Yat Sing Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Yat Sing 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
24%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Yat Sing Holdings expected to grow at an attractive rate?
  • Yat Sing Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Yat Sing Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare Yat Sing Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:3708 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:3708 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 24%
Hong Kong Construction Industry Earnings Growth Rate Market Cap Weighted Average 11.9%
Hong Kong Construction Industry Revenue Growth Rate Market Cap Weighted Average 9.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.6%

*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:3708 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 HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:3708 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 486 79 8
2018-09-30 477 64 6
2018-06-30 467 50 4
2018-03-31 472 12 3
2017-12-31 477 -26 2
2017-09-30 495 -25 2
2017-06-30 513 -24 1
2017-03-31 520 -37 2
2016-12-31 527 -50 3
2016-09-30 507 -42 7
2016-06-30 488 -34 12
2016-03-31 468 -8 15

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Yat Sing Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Yat Sing 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:3708 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 Yat Sing Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3708 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.00
2018-09-30 0.00
2018-06-30 0.00
2018-03-31 0.00
2017-12-31 0.00
2017-09-30 0.00
2017-06-30 0.00
2017-03-31 0.00
2016-12-31 0.00
2016-09-30 0.00
2016-06-30 0.00
2016-03-31 0.00

*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 Yat Sing Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Yat Sing 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.
Yat Sing Holdings has a total score of 3/6, 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.

Past Performance

  How has Yat Sing 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 Yat Sing Holdings's growth in the last year to its industry (Construction).
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.
  • Yat Sing Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Yat Sing Holdings's 1-year earnings growth exceeds its 5-year average (355.1% vs -58.9%)
  • Yat Sing Holdings's earnings growth has exceeded the HK Construction industry average in the past year (355.1% vs -13.1%).
Earnings and Revenue History
Yat Sing 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 Yat Sing Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3708 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 486.44 7.81 47.82
2018-09-30 476.51 5.73 45.41
2018-06-30 466.58 3.65 42.99
2018-03-31 471.75 2.68 41.90
2017-12-31 476.92 1.72 40.80
2017-09-30 495.19 1.51 40.29
2017-06-30 513.46 1.31 39.78
2017-03-31 520.13 2.30 36.69
2016-12-31 526.80 3.30 33.60
2016-09-30 507.43 7.44 30.09
2016-06-30 488.07 11.58 26.58
2016-03-31 468.26 14.76 25.86
2015-12-31 448.46 17.93 25.14
2015-09-30 475.83 14.39 24.43
2015-06-30 503.20 10.84 23.72
2015-03-31 522.45 19.84 19.91
2014-12-31 541.70 28.84 16.10
2014-09-30 571.05 37.41 14.71
2014-06-30 600.39 45.98 13.33
2013-06-30 601.43 23.23 16.20

*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.
  • Yat Sing Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Yat Sing Holdings used its assets less efficiently than the HK Construction industry average last year based on Return on Assets.
  • Yat Sing Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Yat Sing 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 Construction 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.
Yat Sing Holdings has a total score of 2/6, 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.

Health

 How is Yat Sing 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 Yat Sing Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Yat Sing Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Yat Sing Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Yat Sing 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.
  • Debt is covered by short term assets, assets are 3.7x 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 Yat Sing Holdings Company Filings, last reported 6 months ago.

SEHK:3708 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 205.67 84.40 62.80
2018-09-30 205.67 84.40 62.80
2018-06-30 203.35 100.14 76.36
2018-03-31 203.35 100.14 76.36
2017-12-31 172.39 9.60 35.29
2017-09-30 172.39 9.60 35.29
2017-06-30 172.11 10.00 43.50
2017-03-31 172.11 10.00 43.50
2016-12-31 170.61 0.00 48.00
2016-09-30 170.61 0.00 48.00
2016-06-30 170.72 0.00 57.66
2016-03-31 170.72 0.00 57.66
2015-12-31 167.25 35.90 132.39
2015-09-30 167.25 35.90 132.39
2015-06-30 159.07 10.12 99.61
2015-03-31 159.07 10.12 99.61
2014-12-31 69.98 19.87 21.69
2014-09-30 69.98 19.87 21.69
2014-06-30 155.91 12.79 67.36
2013-06-30 192.09 27.77 7.72
  • Yat Sing Holdings's level of debt (41.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (12.6% vs 41.9% today).
  • Debt is well covered by operating cash flow (91.9%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.1x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Yat Sing 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. Yat Sing Holdings has a total score of 3/6, 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.

Dividends

 What is Yat Sing 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
0%
Current annual income from Yat Sing Holdings dividends.
If you bought HK$2,000 of Yat Sing Holdings 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 Yat Sing Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Yat Sing Holdings'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:3708 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 Construction Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 3.9%
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.

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

  • Unable to perform a dividend volatility check as Yat Sing Holdings has not reported any payouts.
  • Unable to verify if Yat Sing Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Yat Sing Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Yat Sing Holdings has not reported any payouts.
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 Yat Sing 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 Yat Sing Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Yat Sing Holdings 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.

Management

 What is the CEO of Yat Sing 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
Jian Dai
COMPENSATION HK$1,218,000
AGE 32
TENURE AS CEO 2.5 years
CEO Bio

Mr. Jian Dai has been Chairman and Chief Executive Officer at Yat Sing Holdings Limited since January 14, 2017. Mr. Dai has been an Executive Director and General Manager of HekouJinxin Mining Limited Company since September 2016. He has been Deputy Manager of the department of research and development at JiangyinYoujia Pearlescent Mica Co. Ltd. since December 2013. Mr. Dai serves as Deputy General Manager of Jiangsu Province Special Synthetic Mica Engineering and Technology Research Center since January 2015, a centre established by JiangyinYoujia Pearlescent Mica Co. Ltd. He has taken part in various research and development projects, including producing electronic micavia artificial synthesis, automated production system of artificial crystal synthetic mica, etc. He holds a bachelor’s degree in Finance from The Great Wall University Beijing.

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

Average tenure and age of the Yat Sing Holdings management team in years:

3.3
Average Tenure
47.5
Average Age
  • The tenure for the Yat Sing Holdings management team is about average.
Management Team

Jian Dai

TITLE
Chairman & CEO
COMPENSATION
HK$1M
AGE
32
TENURE
2.5 yrs

Ming Dai

TITLE
Executive Director
COMPENSATION
HK$620K
AGE
53

Yat Ming Cheung

TITLE
Technical Director
AGE
57
TENURE
19.9 yrs

Nam Shan Fung

TITLE
Company Secretary
AGE
42
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Yat Sing Holdings board of directors in years:

2.5
Average Tenure
36
Average Age
  • The average tenure for the Yat Sing Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jian Dai

TITLE
Chairman & CEO
COMPENSATION
HK$1M
AGE
32
TENURE
2.5 yrs

Ming Dai

TITLE
Executive Director
COMPENSATION
HK$620K
AGE
53
TENURE
1.9 yrs

Biao Guo

TITLE
Independent Non-Executive Director
COMPENSATION
HK$132K
AGE
36
TENURE
3.3 yrs

John Chan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$132K
AGE
46
TENURE
2.5 yrs

Dan Song

TITLE
Independent Non-Executive Director
COMPENSATION
HK$132K
AGE
35
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
30. Jul 18 Buy Jian Dai Individual 27. Jul 18 27. Jul 18 35,410,000 HK$0.28 HK$9,914,720
27. Jul 18 Buy Jian Dai Individual 26. Jul 18 26. Jul 18 34,920,000 HK$0.28 HK$9,777,496
X
Management checks
We assess Yat Sing 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. Yat Sing 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.

News

Simply Wall St News

Who Has Been Buying Yat Sing Holdings Limited (HKG:3708) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Yat Sing Holdings Limited (HKG:3708). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Yat Sing Holdings Insider Transactions Over The Last Year.

Simply Wall St -

Yat Sing Holdings Limited (HKG:3708) Might Not Be A Great Investment

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

What Kind Of Shareholder Owns Most Yat Sing Holdings Limited (HKG:3708) Stock?

Every investor in Yat Sing Holdings Limited (HKG:3708) should be aware of the most powerful shareholder groups. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Yat Sing Holdings is a smaller company with a market capitalization of HK$1.4b, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Is Yat Sing Holdings Limited's (HKG:3708) Balance Sheet A Threat To Its Future?

While small-cap stocks, such as Yat Sing Holdings Limited (HKG:3708) with its market cap of HK$1.0b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is. … I believe these basic checks tell most of the story you need to know.

Simply Wall St -

Why Yat Sing Holdings Limited's (HKG:3708) ROE Of 3.6% Does Not Tell The Whole Story

To keep the lesson grounded in practicality, we'll use ROE to better understand Yat Sing Holdings Limited (HKG:3708). … One way to conceptualize this, is that for each HK$1 of shareholders' equity it has, the company made HK$0.036 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Who Really Owns Yat Sing Holdings Limited (HKG:3708)?

In this article, I'm going to take a look at Yat Sing Holdings Limited’s (HKG:3708) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment.

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With An ROE Of 1.03%, Can Yat Sing Holdings Limited (HKG:3708) Catch Up To The Industry?

and looking to gauge the potential return on investment in Yat Sing Holdings Limited (HKG:3708). … Yat Sing Holdings Limited (HKG:3708) delivered a less impressive 1.03% ROE over the past year, compared to the 11.41% return generated by its industry. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into 3708's past performance.

Simply Wall St -

Company Info

Description

Yat Sing Holdings Limited, an investment holding company, provides building maintenance and renovation services in Hong Kong. The company offers maintenance, improvement, and vacant flat refurbishment services for public housing estates, public facilities, and other public properties; and maintenance and renovation works for private residential buildings and non-residential buildings. It also sells visible light photocatalysis products. The company was founded in 1960 and is based in Hong Kong, Hong Kong. Yat Sing Holdings Limited is a subsidiary of Smart Paradise International Limited.

Details
Name: Yat Sing Holdings Limited
3708
Exchange: SEHK
Founded: 1960
HK$861,476,000
5,594,000,000
Website: http://www.yat-sing.com.hk
Address: Yat Sing Holdings Limited
Singga Commercial Centre,
Unit 2606,
Hong Kong,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3708 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 14. Jan 2015
Number of employees
Current staff
Staff numbers
119
Yat Sing Holdings employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 13:07
End of day share price update: 2019/07/18 00:00
Last earnings filing: 2019/03/07
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.