SEHK:990

Stock Analysis Report

Theme International Holdings

Executive Summary

Theme International Holdings Limited, an investment holding company, engages in the distribution and trading of bulk commodities and related products the People’s Republic of China and Singapore.

Snowflake

Fundamentals

Good value with adequate balance sheet.

Share Price & News

How has Theme International Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-6.8%

990

7.5%

HK Trade Distributors

0.9%

HK Market


1 Year Return

-28.1%

990

11.6%

HK Trade Distributors

0.6%

HK Market

Return vs Industry: 990 underperformed the Hong Kong Trade Distributors industry which returned 11.6% over the past year.

Return vs Market: 990 underperformed the Hong Kong Market which returned 0.6% over the past year.


Shareholder returns

990IndustryMarket
7 Day-6.8%7.5%0.9%
30 Day-9.8%-7.8%0.4%
90 Day-22.0%8.2%-5.5%
1 Year-26.1%-28.1%15.0%11.6%4.2%0.6%
3 Year-36.1%-45.0%-7.8%-16.2%15.5%3.9%
5 Year-42.9%-50.9%-38.4%-50.5%19.9%-0.1%

Price Volatility Vs. Market

How volatile is Theme International Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Theme 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

Undervalued: 990 (HK$0.11) is trading below our estimate of fair value (HK$3.81)

Significantly Undervalued: 990 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 990 is good value based on its PE Ratio (8x) compared to the Trade Distributors industry average (9.1x).

PE vs Market: 990 is good value based on its PE Ratio (8x) compared to the Hong Kong market (10.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate 990's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 990 is overvalued based on its PB Ratio (1.1x) compared to the HK Trade Distributors industry average (0.6x).


Next Steps

Future Growth

How is Theme International Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

6.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 990's forecast earnings growth (6.1% per year) is above the savings rate (2%).

Earnings vs Market: 990's earnings (6.1% per year) are forecast to grow slower than the Hong Kong market (11.4% per year).

High Growth Earnings: 990's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if 990's revenue is forecast to grow faster than the Hong Kong market.

High Growth Revenue: Insufficient data to determine if 990's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if 990's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Theme International Holdings performed over the past 5 years?

70.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 990 has become profitable over the past 5 years, growing earnings by 70.1% per year.

Accelerating Growth: 990's earnings growth over the past year (247.9%) exceeds its 5-year average (70.1% per year).

Earnings vs Industry: 990 earnings growth over the past year (247.9%) exceeded the Trade Distributors industry 1%.


Return on Equity

High ROE: 990's Return on Equity (11.4%) is considered low.


Return on Assets

ROA vs Industry: 990's Return on Assets is below or equal to the Trade Distributors industry average last year.


Return on Capital Employed

ROCE Improving: 990's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Theme International Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 990's short term assets (HK$4.2B) exceeds its short term liabilities (HK$3.0B)

Long Term Liabilities: 990 has no long term liabilities


Debt to Equity History and Analysis

Debt Level: 990's debt to equity ratio (41%) is considered high

Reducing Debt: 990's debt to equity ratio has increased from 8.6% to 41% over the past 5 years.

Debt Coverage: 990's debt is well covered by operating cash flow (424.3%).

Interest Coverage: 990's interest payments on its debt are well covered by EBIT (24.2x coverage).


Balance Sheet

Inventory Level: 990 has a high level of physical assets or inventory.

Debt Coverage by Assets: 990's debt is covered by short term assets (assets are 8.455580x debt).


Next Steps

Dividend

What is Theme International Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.3%markettop25%6.3%industryaverage3.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate 990's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 990's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if 990's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 990's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 990's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

What is the CEO of Theme International Holdings's salary, the management and board of directors tenure and is there insider trading?

1.1yrs

Average management tenure


CEO

Jiang Jiang (37yo)

0.3yrs

Tenure

0

Mr. Jiang Jiang has been Executive Director and Chief Executive Officer at Theme International Holdings Limited since July 29, 2019. He has over many years of experience in commodities trading and derivati ...


Management Age and Tenure

1.1yrs

Average Tenure

38.5yo

Average Age

Experienced Management: 990's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Age and Tenure

1.6yrs

Average Tenure

41yo

Average Age

Experienced Board: 990's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.


Insider Trading

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


Ownership Breakdown


Management Team

  • Jennifer Hui (44yo)

    Image Design Director

    • Tenure: 0yrs
  • Weibing Qiao (51yo)

    Chief Investment Officer

    • Tenure: 7.9yrs
  • Lei Wu (32yo)

    CFO & Executive Director

    • Tenure: 3yrs
    • Compensation: HK$1.59m
  • Jing Chen (40yo)

    Executive Director

    • Tenure: 2yrs
    • Compensation: HK$1.77m
  • Jian Kang (33yo)

    Vice-Chairman of the Board

    • Tenure: 1.2yrs
    • Compensation: HK$1.74m
  • Yui Pang Ho (32yo)

    Company Secretary

    • Tenure: 1.1yrs
  • Lei Yue (41yo)

    Executive Director

    • Tenure: 0.3yrs
  • Jiang Jiang (37yo)

    CEO & Executive Director

    • Tenure: 0.3yrs

Board Members

  • Jennifer Hui (44yo)

    Image Design Director

    • Tenure: 0yrs
  • Shiming Wu (43yo)

    Independent Non Executive Director

    • Tenure: 4.4yrs
    • Compensation: HK$120.00k
  • Tony Chan (51yo)

    Independent Non-Executive Director

    • Tenure: 4.4yrs
    • Compensation: HK$120.00k
  • Lei Wu (32yo)

    CFO & Executive Director

    • Tenure: 3yrs
    • Compensation: HK$1.59m
  • Jing Chen (40yo)

    Executive Director

    • Tenure: 2yrs
    • Compensation: HK$1.77m
  • Jian Kang (33yo)

    Vice-Chairman of the Board

    • Tenure: 1.2yrs
    • Compensation: HK$1.74m
  • Song Liu (46yo)

    Independent Non-Executive Director

    • Tenure: 1.2yrs
    • Compensation: HK$48.00k
  • Lei Yue (41yo)

    Executive Director

    • Tenure: 0.3yrs
  • Jiang Jiang (37yo)

    CEO & Executive Director

    • Tenure: 0.3yrs

Company Information

Theme International Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Theme International Holdings Limited
  • Ticker: 990
  • Exchange: SEHK
  • Founded:
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Market Cap: HK$1.303b
  • Shares outstanding: 11.84b
  • Website: https://www.990.com.hk

Number of Employees


Location

  • Theme International Holdings Limited
  • China Merchants Tower
  • Unit 3401-03, 34th Floor
  • Sheung Wan
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
990SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDFeb 1994

Biography

Theme International Holdings Limited, an investment holding company, engages in the distribution and trading of bulk commodities and related products the People’s Republic of China and Singapore. The compa ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 12:40
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.