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Kam Hing International Holdings

SEHK:2307
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2307
SEHK
HK$470M
Market Cap
  1. Home
  2. HK
  3. Consumer Durables
Company description

Kam Hing International Holdings Limited, an investment holding company, engages in the provision of various integrated textile solutions in Mainland China, Korea, Hong Kong, Taiwan, Singapore, and internationally. The last earnings update was 28 days ago. More info.


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  • Kam Hing International Holdings has significant price volatility in the past 3 months.
2307 Share Price and Events
7 Day Returns
1.9%
SEHK:2307
-4.7%
HK Luxury
-4.1%
HK Market
1 Year Returns
-22.9%
SEHK:2307
-15%
HK Luxury
-17.2%
HK Market
2307 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kam Hing International Holdings (2307) 1.9% -11.5% -20.6% -22.9% -8.5% -5.3%
HK Luxury -4.7% -9.7% -4.2% -15% 13.8% -0.7%
HK Market -4.1% -10.7% -8.4% -17.2% 20% 5.5%
1 Year Return vs Industry and Market
  • 2307 underperformed the Luxury industry which returned -15% over the past year.
  • 2307 underperformed the Market in Hong Kong which returned -17.2% over the past year.
Price Volatility
2307
Industry
5yr Volatility vs Market

Value

 Is Kam Hing International 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 Kam Hing International 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 Kam Hing International Holdings.

SEHK:2307 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 15.3%
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:2307
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.71
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.715 (1 + (1- 25%) (426.52%))
2.341
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (2 * 6.65%)
15.3%

Discounted Cash Flow Calculation for SEHK:2307 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kam Hing International 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:2307 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 15.3%)
2019 1.41 Est @ -83.21% 1.23
2020 0.60 Est @ -57.64% 0.45
2021 0.36 Est @ -39.75% 0.24
2022 0.26 Est @ -27.22% 0.15
2023 0.21 Est @ -18.46% 0.10
2024 0.19 Est @ -12.32% 0.08
2025 0.17 Est @ -8.02% 0.06
2026 0.16 Est @ -5.01% 0.05
2027 0.16 Est @ -2.91% 0.04
2028 0.16 Est @ -1.44% 0.04
Present value of next 10 years cash flows HK$2.44
SEHK:2307 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$0.16 × (1 + 2%) ÷ (15.3% – 2%)
HK$1.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$1.20 ÷ (1 + 15.3%)10
HK$0.29
SEHK:2307 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$2.44 + HK$0.29
HK$2.73
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$2.73 / 869.92
HK$0
SEHK:2307 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.00
Current discount Discount to share price of HK$0.54
= -1 x (HK$0.54 - HK$0.00) / HK$0.00
-17100.4%

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

  • The current share price of Kam Hing International 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 Kam Hing International Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kam Hing International Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2307 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.08
SEHK:2307 Share Price ** SEHK (2019-05-23) in HKD HK$0.54
Hong Kong Luxury Industry PE Ratio Median Figure of 77 Publicly-Listed Luxury Companies 10.02x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 10.96x

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

** Primary Listing of Kam Hing International Holdings.

SEHK:2307 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2307 Share Price ÷ EPS (both in HKD)

= 0.54 ÷ 0.08

6.45x

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

  • Kam Hing International Holdings is good value based on earnings compared to the HK Luxury industry average.
  • Kam Hing International Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Kam Hing International Holdings's expected growth come at a high price?
Raw Data
SEHK:2307 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
23.6%per year
Hong Kong Luxury Industry PEG Ratio Median Figure of 23 Publicly-Listed Luxury Companies 0.86x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.77x

*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 Kam Hing International Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kam Hing International Holdings's assets?
Raw Data
SEHK:2307 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$2.23
SEHK:2307 Share Price * SEHK (2019-05-23) in HKD HK$0.54
Hong Kong Luxury Industry PB Ratio Median Figure of 122 Publicly-Listed Luxury Companies 1.06x
Hong Kong Market PB Ratio Median Figure of 2,157 Publicly-Listed Companies 0.94x
SEHK:2307 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2307 Share Price ÷ Book Value per Share (both in HKD)

= 0.54 ÷ 2.23

0.24x

* Primary Listing of Kam Hing International Holdings.

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

  • Kam Hing International Holdings is good value based on assets compared to the HK Luxury industry average.
X
Value checks
We assess Kam Hing International 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. Kam Hing International 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 Kam Hing International Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Kam Hing International 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
23.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kam Hing International Holdings expected to grow at an attractive rate?
  • Kam Hing International Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Kam Hing International Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare Kam Hing International Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:2307 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2307 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 23.6%
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 11.6%
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:2307 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 HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2307 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 4,651 306 73
2018-09-30 4,528 125 70
2018-06-30 4,405 -56 67
2018-03-31 4,299 86 66
2017-12-31 4,193 228 65
2017-09-30 3,934 234 68
2017-06-30 3,675 241 71
2017-03-31 3,669 354 73
2016-12-31 3,663 467 75
2016-09-30 3,823 523 62
2016-06-30 3,984 579 49
2016-03-31 4,069 483 54

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kam Hing International Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Kam Hing International 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:2307 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 Kam Hing International Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2307 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.08
2018-09-30 0.08
2018-06-30 0.08
2018-03-31 0.08
2017-12-31 0.07
2017-09-30 0.08
2017-06-30 0.08
2017-03-31 0.08
2016-12-31 0.09
2016-09-30 0.07
2016-06-30 0.06
2016-03-31 0.06

*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 Kam Hing International Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Kam Hing International 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.
Kam Hing International 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 Kam Hing International 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 Kam Hing International 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.
  • Kam Hing International Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Kam Hing International Holdings's 1-year earnings growth exceeds its 5-year average (12.8% vs -5.3%)
  • Kam Hing International Holdings's earnings growth has exceeded the HK Luxury industry average in the past year (12.8% vs 2.5%).
Earnings and Revenue History
Kam Hing International 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 Kam Hing International Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2307 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 4,650.96 72.83 436.84
2018-09-30 4,527.84 69.94 437.63
2018-06-30 4,404.73 67.05 438.41
2018-03-31 4,298.81 65.81 428.00
2017-12-31 4,192.90 64.58 417.60
2017-09-30 3,933.92 67.72 411.97
2017-06-30 3,674.95 70.86 406.34
2017-03-31 3,668.79 72.93 415.54
2016-12-31 3,662.62 75.00 424.73
2016-09-30 3,823.49 62.22 440.82
2016-06-30 3,984.36 49.45 456.90
2016-03-31 4,068.54 53.85 465.47
2015-12-31 4,152.73 58.26 474.04
2015-09-30 4,159.21 70.24 458.86
2015-06-30 4,165.68 82.23 443.69
2015-03-31 4,075.69 81.64 433.86
2014-12-31 3,985.70 81.06 424.03
2014-09-30 3,882.07 81.58 438.16
2014-06-30 3,778.44 82.11 452.28
2014-03-31 3,850.53 86.90 462.66
2013-12-31 3,922.63 91.70 473.03
2013-09-30 4,025.78 97.69 483.27
2013-06-30 4,128.94 103.68 493.52
2013-03-31 4,114.55 102.28 507.83
2012-12-31 4,100.16 100.88 522.14
2012-09-30 4,138.56 94.95 505.13
2012-06-30 4,176.95 89.01 488.12

*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.
  • Kam Hing International Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kam Hing International Holdings used its assets less efficiently than the HK Luxury industry average last year based on Return on Assets.
  • Kam Hing International Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kam Hing International 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.
Kam Hing International 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 Kam Hing International 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 Kam Hing International Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kam Hing International Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kam Hing International Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kam Hing International 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.
  • Debt is covered by short term assets, assets are 1.4x 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 Kam Hing International Holdings Company Filings, last reported 4 months ago.

SEHK:2307 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,938.86 2,003.59 558.41
2018-09-30 1,938.86 2,003.59 558.41
2018-06-30 2,105.90 2,275.59 569.83
2018-03-31 2,105.90 2,275.59 569.83
2017-12-31 2,051.89 1,794.81 422.04
2017-09-30 2,051.89 1,794.81 422.04
2017-06-30 1,868.48 1,749.78 402.44
2017-03-31 1,868.48 1,749.78 402.44
2016-12-31 1,819.07 1,746.37 475.82
2016-09-30 1,819.07 1,746.37 475.82
2016-06-30 2,064.67 1,754.51 497.33
2016-03-31 2,064.67 1,754.51 497.33
2015-12-31 2,024.70 1,853.81 517.84
2015-09-30 2,024.70 1,853.81 517.84
2015-06-30 2,138.92 1,896.19 532.11
2015-03-31 2,138.92 1,896.19 532.11
2014-12-31 2,073.70 1,779.91 487.58
2014-09-30 2,073.70 1,779.91 487.58
2014-06-30 2,055.81 1,970.09 747.38
2014-03-31 2,055.81 1,970.09 747.38
2013-12-31 2,021.94 1,713.27 555.26
2013-09-30 2,021.94 1,713.27 555.26
2013-06-30 2,000.43 1,439.21 459.58
2013-03-31 2,000.43 1,439.21 459.58
2012-12-31 1,964.11 1,452.75 495.24
2012-09-30 1,964.11 1,452.75 495.24
2012-06-30 1,932.58 1,409.71 385.51
  • Kam Hing International Holdings's level of debt (103.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (84.9% vs 103.3% today).
  • Debt is not well covered by operating cash flow (15.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Kam Hing International 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. Kam Hing International Holdings has a total score of 2/6, 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 Kam Hing International 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
2.78%
Current annual income from Kam Hing International Holdings dividends.
If you bought HK$2,000 of Kam Hing International Holdings shares you are expected to receive HK$56 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?
  • Kam Hing International Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.1%).
  • Kam Hing International Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.84%).
Upcoming dividend payment

Purchase Kam Hing International Holdings before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:2307 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 967 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:2307 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-26 0.015 2.659
2019-03-28 0.015 2.369
2018-06-11 0.015 2.124
2017-04-03 0.015 2.473
2016-04-28 0.015 2.770
2016-03-24 0.015 2.711
2015-04-29 0.013 2.437
2014-04-29 0.025 4.484
2014-03-25 0.025 4.052
2013-04-23 0.027 4.280
2013-03-27 0.027 3.956
2012-03-27 0.033 5.166
2011-03-28 0.027 3.395
2010-04-26 0.025 1.718
2009-09-22 0.000 0.000
2009-09-15 0.000 0.000

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

  • Kam Hing International Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Kam Hing International Holdings has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Kam Hing International Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.6x 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 Kam Hing International 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 Kam Hing International Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kam Hing International 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.

Management

 What is the CEO of Kam Hing International 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
Chin Wen Tai
COMPENSATION HK$4,419,000
AGE 63
CEO Bio

Mr. Chin Wen Tai is a Co-Founder of Kam Hing International Holdings Ltd. and serves as its Chief Executive Officer. Mr. Tai is In Charge of the Group’s overall management. Mr. Tai was a founder of a construction business in Hong Kong in 1993, which was principally engaged in the construction of glass wall for commercial buildings, with orders subcontracted from other contractors. Before that, he has worked in two local factories for 12 years, where he was principally responsible for overall business management. He has over 20 years of management experience in the manufacturing industry. He served as the Vice Chairman of Kam Hing International Holdings Ltd. and serves as its Executive Director. He is a standing member of the Political Consultative Committee of Nan An City of the Fujian Province. Mr. Tai has also been awarded honorary citizenship of Guangzhou Municipal.

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

Chin Chun Tai

TITLE
Co-Founder & Chairman
COMPENSATION
HK$5M
AGE
56

Chin Wen Tai

TITLE
Co-Founder
COMPENSATION
HK$4M
AGE
63

Siu Yuk Wong

TITLE
Head of Dyeing Material Sourcing
COMPENSATION
HK$3M
AGE
56

Chau Lam Chong

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
68

So Wan Cheung

TITLE
Head of Yarn Sourcing
COMPENSATION
HK$3M
AGE
54

Ben Lei

TITLE
CFO & Secretary
AGE
57
TENURE
9.9 yrs

Chun Hou Lu

TITLE
General Manager of Operation - PRC
AGE
59

Tang Tat Tai

TITLE
GM of Ops Centre - Guangzhou
AGE
37
Board of Directors Tenure

Average tenure and age of the Kam Hing International Holdings board of directors in years:

9
Average Tenure
56
Average Age
  • The tenure for the Kam Hing International Holdings board of directors is about average.
Board of Directors

Chin Chun Tai

TITLE
Co-Founder & Chairman
COMPENSATION
HK$5M
AGE
56

Chin Wen Tai

TITLE
Co-Founder
COMPENSATION
HK$4M
AGE
63

Siu Yuk Wong

TITLE
Head of Dyeing Material Sourcing
COMPENSATION
HK$3M
AGE
56

Chau Lam Chong

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
68
TENURE
13.8 yrs

So Wan Cheung

TITLE
Head of Yarn Sourcing
COMPENSATION
HK$3M
AGE
54

Gilbert Ho

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
41
TENURE
9 yrs

Bernard Wu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
53
TENURE
2.4 yrs

Willis Ting

TITLE
Independent Non-Executive Director
COMPENSATION
HK$112K
AGE
56
TENURE
1.8 yrs

Elmen Wong

TITLE
Non Executive Director
COMPENSATION
HK$2M
AGE
52
TENURE
10.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Kam Hing International 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. Kam Hing International 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

Kam Hing International Holdings Limited (HKG:2307) Is Yielding 2.7% - But Is It A Buy?

Dividend paying stocks like Kam Hing International Holdings Limited (HKG:2307) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. … Payout ratios Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. In the last year, Kam Hing International Holdings paid out 18% of its profit as dividends. We like this low payout ratio, because it implies the dividend is well covered and leaves ample opportunity for reinvestment. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Of the free cash flow it generated last year, Kam Hing International Holdings paid out 31% as dividends, suggesting the dividend is affordable. Is Kam Hing International Holdings's Balance Sheet Risky? As Kam Hing International Holdings has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments on debt. Essentially we check that a) a company does not have too much debt, and b) that it can afford to pay the interest. … Conclusion To summarise, shareholders should always check that Kam Hing International Holdings's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Has Kam Hing International Holdings Limited (HKG:2307) Improved Earnings Growth In Recent Times?

Below, I will examine Kam Hing International Holdings Limited's (HKG:2307) track record on a high level, to give you some insight into how the company has been performing against its long term trend and its industry peers. … Check out our latest analysis for Kam Hing International Holdings? … Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of -5.3%, indicating the rate at which 2307 is growing has accelerated

Simply Wall St -

Does Kam Hing International Holdings Limited's (HKG:2307) CEO Pay Compare Well With Peers?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Chin Tai's Compensation Compare With Similar Sized Companies. … Our data indicates that Kam Hing International Holdings Limited is worth HK$539m, and total annual CEO compensation is HK$4.4m.

Simply Wall St -

Kam Hing International Holdings (HKG:2307) Shareholders Booked A 26% Gain In The Last Three Years

For example, the Kam Hing International Holdings Limited (HKG:2307) share price is up 26% in the last three years, slightly above the market return. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During the three years of share price growth, Kam Hing International Holdings actually saw its earnings per share (EPS) drop 6.6% per year.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Kam Hing International Holdings Limited (HKG:2307)

We'll show how you can use Kam Hing International Holdings Limited's (HKG:2307) P/E ratio to inform your assessment of the investment opportunity. … Kam Hing International Holdings has a price to earnings ratio of 8.56, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Does The Kam Hing International Holdings Limited (HKG:2307) Share Price Fall With The Market?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider.

Simply Wall St -

What Kind Of Shareholder Owns Most Kam Hing International Holdings Limited (HKG:2307) Stock?

A look at the shareholders of Kam Hing International Holdings Limited (HKG:2307) can tell us which group is most powerful. … Generally speaking, as a company grows, institutions will increase their ownership. … Kam Hing International Holdings is not a large company by global standards.

Simply Wall St -

What You Must Know About Kam Hing International Holdings Limited's (HKG:2307) Financial Strength

However, an important fact which most ignore is: how financially healthy is the business? … Assessing first and foremost the financial health is. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

Is Kam Hing International Holdings Limited (HKG:2307) Investing Your Capital Efficiently?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Second, we'll look at its ROCE compared to similar companies. … Understanding Return On Capital Employed (ROCE).

Simply Wall St -

Know This Before Buying Kam Hing International Holdings Limited (HKG:2307) For Its Dividend

Historically, Kam Hing International Holdings Limited (HKG:2307) has been paying a dividend to shareholders. … Let's dig deeper into whether Kam Hing International Holdings should have a place in your portfolio. … See our latest analysis for Kam Hing International Holdings

Simply Wall St -

Company Info

Description

Kam Hing International Holdings Limited, an investment holding company, engages in the provision of various integrated textile solutions in Mainland China, Korea, Hong Kong, Taiwan, Singapore, and internationally. The company operates through two segments, Fabric Products and Others. It provides knitted and dyed fabrics, including pure cotton and cotton blended fabrics, and special raw materials; dyed yarn and sewing threads; and garment products, as well as related subcontracting services. The company also offers sewage treatment, and air and ocean freight handling services; and corporate management, sales planning, and consultancy services, as well as engages in property holding and mining activities. In addition, it engages in the trading of yarns, dyeing materials, fabrics, and garment products. The company was founded in 1996 and is headquartered in Tsuen Wan, Hong Kong.

Details
Name: Kam Hing International Holdings Limited
2307
Exchange: SEHK
Founded: 1996
HK$469,756,260
869,919,000
Website: http://www.kamhingintl.com
Address: Kam Hing International Holdings Limited
TML Tower, Workshop A,
23rd Floor,
Tsuen Wan,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2307 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 23. Sep 2004
Number of employees
Current staff
Staff numbers
7,643
Kam Hing International Holdings employees.
Industry
Textiles
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 12:32
End of day share price update: 2019/05/23 00:00
Last earnings filing: 2019/04/26
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.