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China Outfitters Holdings

SEHK:1146
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1146
SEHK
HK$620M
Market Cap
  1. Home
  2. HK
  3. Consumer Durables
Company description

China Outfitters Holdings Limited, an investment holding company, designs, manufactures, markets, and sells apparels and accessories in the People’s Republic of China. The last earnings update was 51 days ago. More info.


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  • China Outfitters Holdings has significant price volatility in the past 3 months.
1146 Share Price and Events
7 Day Returns
-13.5%
SEHK:1146
-4.1%
HK Luxury
-2.4%
HK Market
1 Year Returns
-26.5%
SEHK:1146
-14.5%
HK Luxury
-16.5%
HK Market
1146 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Outfitters Holdings (1146) -13.5% -13.5% -22.4% -26.5% -55.6% -83.8%
HK Luxury -4.1% -10% -4.5% -14.5% 13.7% -0.9%
HK Market -2.4% -10.2% -8.1% -16.5% 19.3% 4.8%
1 Year Return vs Industry and Market
  • 1146 underperformed the Luxury industry which returned -14.5% over the past year.
  • 1146 underperformed the Market in Hong Kong which returned -16.5% over the past year.
Price Volatility
1146
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for China Outfitters Holdings's competitors could be found in our database.

Value

 Is China Outfitters 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 China Outfitters 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 China Outfitters Holdings.

SEHK:1146 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 6.8%
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:1146
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.715 (1 + (1- 25%) (0%))
0.809
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.809 * 5.96%)
6.83%

Discounted Cash Flow Calculation for SEHK:1146 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China Outfitters 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:1146 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 6.83%)
2019 11.83 Est @ -42.73% 11.08
2020 8.36 Est @ -29.31% 7.33
2021 6.70 Est @ -19.91% 5.50
2022 5.81 Est @ -13.34% 4.46
2023 5.30 Est @ -8.74% 3.81
2024 5.01 Est @ -5.51% 3.37
2025 4.84 Est @ -3.26% 3.05
2026 4.76 Est @ -1.68% 2.81
2027 4.73 Est @ -0.58% 2.61
2028 4.74 Est @ 0.2% 2.45
Present value of next 10 years cash flows CN¥46.46
SEHK:1146 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥4.74 × (1 + 2%) ÷ (6.83% – 2%)
CN¥100.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥100.30 ÷ (1 + 6.83%)10
CN¥51.82
SEHK:1146 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥46.46 + CN¥51.82
CN¥98.28
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥98.28 / 3,445.45
CN¥0.03
SEHK:1146 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1146)
1.138
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0.03 x 1.138
HK$0.03
Value per share (HKD) From above. HK$0.03
Current discount Discount to share price of HK$0.18
= -1 x (HK$0.18 - HK$0.03) / HK$0.03
-454.7%

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

  • The current share price of China Outfitters Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 China Outfitters Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Outfitters Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1146 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.02
SEHK:1146 Share Price ** SEHK (2019-05-24) in HKD HK$0.18
SEHK:1146 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥0.16
Hong Kong Luxury Industry PE Ratio Median Figure of 77 Publicly-Listed Luxury Companies 9.55x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 10.99x

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

** Primary Listing of China Outfitters Holdings.

SEHK:1146 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1146 Share Price ÷ EPS (both in CNY)

= 0.16 ÷ 0.02

9.01x

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

  • China Outfitters Holdings is good value based on earnings compared to the HK Luxury industry average.
  • China Outfitters Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does China Outfitters Holdings's expected growth come at a high price?
Raw Data
SEHK:1146 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
25%per year
Hong Kong Luxury Industry PEG Ratio Median Figure of 23 Publicly-Listed Luxury Companies 0.87x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.76x

*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 China Outfitters Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on China Outfitters Holdings's assets?
Raw Data
SEHK:1146 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥0.52
SEHK:1146 Share Price * SEHK (2019-05-24) in HKD HK$0.18
SEHK:1146 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥0.16
Hong Kong Luxury Industry PB Ratio Median Figure of 122 Publicly-Listed Luxury Companies 1.02x
Hong Kong Market PB Ratio Median Figure of 2,157 Publicly-Listed Companies 0.94x
SEHK:1146 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1146 Share Price ÷ Book Value per Share (both in CNY)

= 0.16 ÷ 0.52

0.31x

* Primary Listing of China Outfitters Holdings.

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

  • China Outfitters Holdings is good value based on assets compared to the HK Luxury industry average.
X
Value checks
We assess China Outfitters 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 Luxury 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 Luxury industry average (and greater than 0)? (1 check)
  5. China Outfitters 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.

Future Performance

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

  • No analysts cover China Outfitters 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
25%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Outfitters Holdings expected to grow at an attractive rate?
  • China Outfitters Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • China Outfitters Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare China Outfitters Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1146 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1146 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 25%
Hong Kong Luxury Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
Hong Kong Luxury Industry Revenue Growth Rate Market Cap Weighted Average 11.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.1%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.5%

*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:1146 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 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:1146 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 898 52 60
2018-09-30 910 44 61
2018-06-30 922 36 63
2018-03-31 920 54 59
2017-12-31 918 71 55
2017-09-30 901 85 48
2017-06-30 885 99 41
2017-03-31 893 108 43
2016-12-31 902 117 45
2016-09-30 924 112 54
2016-06-30 946 108 62
2016-03-31 979 81 84

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Outfitters Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if China Outfitters 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:1146 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from China Outfitters Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1146 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.02
2018-09-30 0.02
2018-06-30 0.02
2018-03-31 0.02
2017-12-31 0.02
2017-09-30 0.01
2017-06-30 0.01
2017-03-31 0.01
2016-12-31 0.01
2016-09-30 0.02
2016-06-30 0.02
2016-03-31 0.02

*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 China Outfitters Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess China Outfitters 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.
China Outfitters 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 China Outfitters 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 China Outfitters Holdings's growth in the last year to its industry (Luxury).
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.
  • China Outfitters Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • China Outfitters Holdings's 1-year earnings growth exceeds its 5-year average (9.7% vs -45.2%)
  • China Outfitters Holdings's earnings growth has exceeded the HK Luxury industry average in the past year (9.7% vs 2.5%).
Earnings and Revenue History
China Outfitters 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 China Outfitters Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1146 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 898.30 60.18 563.64
2018-09-30 909.99 61.45 568.63
2018-06-30 921.68 62.72 574.52
2018-03-31 920.01 58.79 556.51
2017-12-31 918.34 54.85 537.59
2017-09-30 901.46 48.13 523.41
2017-06-30 884.58 41.41 509.23
2017-03-31 893.29 43.41 513.17
2016-12-31 902.01 45.40 517.11
2016-09-30 924.00 53.91 530.10
2016-06-30 945.99 62.42 543.10
2016-03-31 979.38 83.63 550.95
2015-12-31 1,012.76 104.84 558.80
2015-09-30 1,045.84 151.30 547.81
2015-06-30 1,078.91 197.76 536.83
2015-03-31 1,086.62 200.68 522.27
2014-12-31 1,094.33 203.61 507.71
2014-09-30 1,131.08 244.13 505.32
2014-06-30 1,167.83 284.66 502.93
2014-03-31 1,207.49 334.31 503.78
2013-12-31 1,247.16 383.95 504.63
2013-09-30 1,307.66 412.41 510.70
2013-06-30 1,368.16 440.86 516.78
2013-03-31 1,387.97 450.55 517.90
2012-12-31 1,407.78 460.25 519.02
2012-09-30 1,387.33 455.26 505.68
2012-06-30 1,366.89 450.27 492.33

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Outfitters Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Outfitters Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China Outfitters 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.
  • High level of physical assets or inventory.
  • China Outfitters 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 China Outfitters Holdings Company Filings, last reported 4 months ago.

SEHK:1146 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,778.33 0.00 798.23
2018-09-30 1,778.33 0.00 798.23
2018-06-30 1,784.52 0.00 759.23
2018-03-31 1,784.52 0.00 759.23
2017-12-31 1,735.81 0.00 761.64
2017-09-30 1,735.81 0.00 761.64
2017-06-30 1,707.22 373.21 718.94
2017-03-31 1,707.22 373.21 718.94
2016-12-31 1,657.36 384.64 683.31
2016-09-30 1,657.36 384.64 683.31
2016-06-30 1,672.30 367.51 686.60
2016-03-31 1,672.30 367.51 686.60
2015-12-31 1,622.79 360.25 578.33
2015-09-30 1,622.79 360.25 578.33
2015-06-30 1,629.34 378.53 610.86
2015-03-31 1,629.34 378.53 610.86
2014-12-31 1,637.05 646.83 942.94
2014-09-30 1,637.05 646.83 942.94
2014-06-30 1,869.83 269.83 1,006.21
2014-03-31 1,869.83 269.83 1,006.21
2013-12-31 2,087.07 0.00 1,299.67
2013-09-30 2,087.07 0.00 1,299.67
2013-06-30 1,899.77 0.00 1,299.71
2013-03-31 1,899.77 0.00 1,299.71
2012-12-31 1,971.48 0.00 1,489.28
2012-09-30 1,971.48 0.00 1,489.28
2012-06-30 1,727.78 0.00 1,305.43
  • China Outfitters Holdings has no debt.
  • China Outfitters Holdings has no debt compared to 5 years ago when it was 0.1%.
  • China Outfitters Holdings has no debt, it does not need to be covered by operating cash flow.
  • China Outfitters Holdings has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess China Outfitters 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. China Outfitters 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.

Dividends

 What is China Outfitters 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 China Outfitters Holdings dividends.
If you bought HK$2,000 of China Outfitters 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 China Outfitters Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate China Outfitters 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:1146 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 Luxury Industry Average Dividend Yield Market Cap Weighted Average of 57 Stocks 3%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 Stocks 3.7%
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 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:1146 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2016-09-09 0.000 0.000
2016-08-22 0.000 0.000
2016-04-13 0.000 0.000
2016-03-21 0.000 0.000
2015-04-15 0.125 23.819
2015-03-23 0.126 17.948
2014-09-08 0.151 20.366
2014-08-25 0.151 16.319
2014-04-03 0.095 10.384
2014-03-24 0.096 8.715
2013-03-27 0.064 6.456
2012-03-19 0.058 4.953

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

  • Unable to perform a dividend volatility check as China Outfitters Holdings has not reported any payouts.
  • Unable to verify if China Outfitters Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of China Outfitters Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as China Outfitters 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 China Outfitters 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 China Outfitters Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Outfitters 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 China Outfitters 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
Yongli Zhang
COMPENSATION CN¥3,126,000
AGE 59
TENURE AS CEO 7.9 years
CEO Bio

Mr. Yongli Zhang has been the Chief Executive Officer of China Outfitters Holdings Limited since June 8, 2011 and has been its Chairman since June 22, 2018. Mr. Zhang serves as an Assistant of the Navy Shanghai Base, the office director of Shenzhen Yanshan Industry Trading Co., Ltd., General Manager of Haikou Lanyuan Corporation Company, Vice General Manager of Guangdong Baoli South Import and Export Company. Mr. Zhang is in charge of general manager of Guangdong Liwei Dressing Co., Ltd., Chairman of the Board of Shanghai Baodewei Apparel Co., Ltd. and Dezhou Zhonghe Garments Co., Ltd., legal representative, executive director and manager of Beijing Baodewei Apparel Co., Ltd., director and general manager of Guangzhou Ruitang Trade Co., Ltd. and Guangzhou Ruicheng Trade Co., Ltd., supervisor of Sichuan Baodewei Trading Co., Ltd. and Shanghai Jiancheng Trading Co., Ltd. He served as Vice President of Guangdong Rieys Group Co. Ltd. Mr. Zhang has been an Executive Director of China Outfitters Holdings Limited since June 8, 2011. Mr. Zhang served as a Director of Guangdong Rieys until May 2009. He graduated from Naval Engineering Institute.

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

Average tenure and age of the China Outfitters Holdings management team in years:

7.9
Average Tenure
48
Average Age
  • The average tenure for the China Outfitters Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Yongli Zhang

TITLE
CEO & Chairman
COMPENSATION
CN¥3M
AGE
59
TENURE
7.9 yrs

Xiaoyun Huang

TITLE
CFO & Executive Director
COMPENSATION
CN¥1M
AGE
47
TENURE
7 yrs

David Sun

TITLE
Executive Director
COMPENSATION
CN¥396K
AGE
52

Zhuoping Li

TITLE
Chief Technology Officer
AGE
38
TENURE
2.3 yrs

Zhu Jun Li

TITLE
Chief Sales Officer
AGE
44
TENURE
2.8 yrs

Xiaosheng Huang

TITLE
Chief Marketing Officer
AGE
33

Yi Lu

TITLE
Chief Branding Officer & Regional Sales Controller
AGE
39
TENURE
7.9 yrs

Hon Wing Wong

TITLE
Chief Procurement Officer
AGE
49
TENURE
7.9 yrs

Wen Liu

TITLE
Chief Procurement Officer - Accessories
AGE
54
TENURE
7.9 yrs

Shuk Yi Leung

TITLE
Chief Design Officer
AGE
51
Board of Directors Tenure

Average tenure and age of the China Outfitters Holdings board of directors in years:

7.9
Average Tenure
52
Average Age
  • The tenure for the China Outfitters Holdings board of directors is about average.
Board of Directors

Yongli Zhang

TITLE
CEO & Chairman
COMPENSATION
CN¥3M
AGE
59
TENURE
0.9 yrs

Xiaoyun Huang

TITLE
CFO & Executive Director
COMPENSATION
CN¥1M
AGE
47
TENURE
7.9 yrs

David Sun

TITLE
Executive Director
COMPENSATION
CN¥396K
AGE
52
TENURE
7.9 yrs

Wilson Kwong

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥200K
AGE
52
TENURE
7.9 yrs

Yi Cui

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥200K
AGE
63
TENURE
7.9 yrs

Chi Wai Yeung

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥200K
AGE
57
TENURE
7.9 yrs

Wei Wang

TITLE
Non-Executive Director
COMPENSATION
CN¥180K
AGE
35
TENURE
7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
06. Jun 18 Sell CEC Outfitters Limited Company 05. Jun 18 05. Jun 18 -600,000 HK$0.25 HK$-147,299
03. Sep 18 Buy Kailun Zhang Individual 31. Aug 18 31. Aug 18 173,000,000 HK$0.23 HK$39,098,262
03. Sep 18 Sell CEC Outfitters Limited Company 31. Aug 18 31. Aug 18 -173,000,000 HK$0.23 HK$-39,098,262
27. Jun 18 Buy Xiaoyun Huang Individual 27. Jun 18 27. Jun 18 50,000,000 HK$0.23 HK$11,649,860
27. Jun 18 Sell CEC Outfitters Limited Company 27. Jun 18 27. Jun 18 -50,000,000 HK$0.23 HK$-11,649,860
26. Jun 18 Sell CEC Outfitters Limited Company 25. Jun 18 25. Jun 18 -160,000,000 HK$0.24 HK$-37,600,351
22. Jun 18 Sell CEC Outfitters Limited Company 21. Jun 18 21. Jun 18 -176,200,000 HK$0.25 HK$-43,467,906
22. Jun 18 Sell CEC Outfitters Limited Company 22. Jun 18 22. Jun 18 -85,000,000 HK$0.23 HK$-19,974,800
21. Jun 18 Sell CEC Outfitters Limited Company 20. Jun 18 20. Jun 18 -300,000 HK$0.26 HK$-76,501
20. Jun 18 Sell CEC Outfitters Limited Company 19. Jun 18 19. Jun 18 -87,000,000 HK$0.23 HK$-20,444,881
16. Jun 18 Sell CEC Outfitters Limited Company 15. Jun 18 15. Jun 18 -700,000 HK$0.25 HK$-175,282
14. Jun 18 Sell CEC Outfitters Limited Company 13. Jun 18 13. Jun 18 -55,200,000 HK$0.25 HK$-13,612,105
10. Jun 18 Sell CEC Outfitters Limited Company 08. Jun 18 08. Jun 18 -1,370,000 HK$0.25 HK$-339,622
05. Jun 18 Sell CEC Outfitters Limited Company 04. Jun 18 04. Jun 18 -1,502,000 HK$0.24 HK$-364,230
02. Jun 18 Sell CEC Outfitters Limited Company 01. Jun 18 01. Jun 18 -600,000 HK$0.25 HK$-147,660
01. Jun 18 Sell CEC Outfitters Limited Company 31. May 18 31. May 18 -1,900,000 HK$0.25 HK$-472,524
01. Jun 18 Sell CEC Outfitters Limited Company 30. May 18 30. May 18 -350,000 HK$0.25 HK$-86,591
X
Management checks
We assess China Outfitters 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. China Outfitters 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

What Should Investors Know About China Outfitters Holdings Limited's (HKG:1146) Capital Returns?

and looking to gauge the potential return on investment in China Outfitters Holdings Limited (HKG:1146). … China Outfitters Holdings stock represents an ownership share in the company. … To understand China Outfitters Holdings’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Does China Outfitters Holdings Limited's (HKG:1146) PE Ratio Signal A Selling Opportunity?

China Outfitters Holdings Limited (HKG:1146) is trading with a trailing P/E of 12.9x, which is higher than the industry average of 11.2x. … While this makes 1146 appear like a stock to avoid or sell if you own it, you might change your mind after I explain the assumptions behind the P/E ratio. … View our latest analysis for China Outfitters Holdings

Simply Wall St -

Does China Outfitters Holdings Limited (HKG:1146)'s Capital Return Make The Cut?

and want to begin learning the link between China Outfitters Holdings Limited (HKG:1146)’s return fundamentals and stock market performance. … China Outfitters Holdings stock represents an ownership share in the company. … Your return is tied to 1146’s ability to do this because the amount earned is used to invest in opportunities to grow the business or payout dividends, which are the two sources of return on investment.

Simply Wall St -

Should You Be Holding China Outfitters Holdings Limited (HKG:1146)?

Today I've chosen to put the spotlight on China Outfitters Holdings Limited (HKG:1146) due to its excellent fundamentals in more than one area. … Below, I've touched on some key aspects you should know on a high level. … report on China Outfitters Holdings here

Simply Wall St -

April Top Undervalued Stock

China Outfitters Holdings and Zhong An Real Estate are two of the companies on my list that I consider are undervalued. … China Outfitters Holdings Limited (SEHK:1146) China Outfitters Holdings Limited, an investment holding company, designs, manufactures, markets, and sells apparels and accessories in the People’s Republic of China. … SEHK:1146 PE PEG Gauge Apr 27th 18 Zhong An Real Estate Limited (SEHK:672) Zhong An Real Estate Limited, together with its subsidiaries, develops, leases, and sells various properties in Mainland China.

Simply Wall St -

Top 3 Cheap Stocks For The Month

This is the case for China Outfitters Holdings and Boyaa Interactive International. … China Outfitters Holdings Limited (SEHK:1146) China Outfitters Holdings Limited, an investment holding company, designs, manufactures, markets, and sells apparels and accessories in the People’s Republic of China. … SEHK:1146 PE PEG Gauge Mar 27th 18 Boyaa Interactive International Limited (SEHK:434) Boyaa Interactive International Limited, an investment holding company, develops and operates online card and board games in the People’s Republic of China and internationally.

Simply Wall St -

How Did China Outfitters Holdings Limited's (HKG:1146) 3.21% ROE Fare Against The Industry?

China Outfitters Holdings Limited (SEHK:1146) generated a below-average return on equity of 3.21% in the past 12 months, while its industry returned 8.34%. … View our latest analysis for China Outfitters Holdings What you must know about ROE Return on Equity (ROE) weighs China Outfitters Holdings’s profit against the level of its shareholders’ equity. … For now, let’s just look at the cost of equity number for China Outfitters Holdings, which is 8.38%.

Simply Wall St -

China Outfitters Holdings Limited (HKG:1146): Does The -33.65% Earnings Decline Make It An Underperformer?

For China Outfitters Holdings, its most recent trailing-twelve-month earnings is CN¥41.4M, which, against the prior year's figure, has dropped by a substantial -33.65%. … Although revenue growth in the last few years, has been negative, earnings growth has been declining by even more, implying that China Outfitters Holdings has been growing its expenses. … Though China Outfitters Holdings's past data is helpful, it is only one aspect of my investment thesis.

Simply Wall St -

Company Info

Description

China Outfitters Holdings Limited, an investment holding company, designs, manufactures, markets, and sells apparels and accessories in the People’s Republic of China. It offers men's casual wear, including smart casual wear, outdoor casual wear, leisure wear, and accessories under licensed and self-owned brands targeting consumers in the mid-to-high income bracket. The company also offers womenswear. Its licensed brands include Barbour, Jeep, Santa Barbara Polo & Racquet Club, Maxim's, Sideout, and Koyo Jeans; self-owned brands comprise Artful Dodger, Doright, London Fog, Zoo York, and MCS; and joint venture brands include Henry Cotton's, Marina Yachting, LINCS, and Manhattan. In addition, it develops, operates, and manages properties; and sells software products. As of December 31, 2018, the company’s sales network included 576 self-operated retail points and 290 retail points operated by third-party retailers. The company was founded in 2000 and is headquartered in Shanghai, the People’s Republic of China.

Details
Name: China Outfitters Holdings Limited
1146
Exchange: SEHK
Founded: 2000
HK$620,181,000
3,445,450,000
Website: http://www.cohl.hk
Address: China Outfitters Holdings Limited
No. 9, Lane 1225,
Tongpu Road,
Shanghai,
200333,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1146 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 09. Dec 2011
DB CFO Ordinary Shares Deutsche Boerse AG DE EUR 09. Dec 2011
Number of employees
Current staff
Staff numbers
2,461
China Outfitters Holdings employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 12:55
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/04/04
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.