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Shenzhou International Group Holdings

SEHK:2313
Snowflake Description

Outstanding track record with excellent balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2313
SEHK
HK$157B
Market Cap
  1. Home
  2. HK
  3. Consumer Durables
Company description

Shenzhou International Group Holdings Limited, an investment holding company, engages in manufacturing, processing, and selling knitwear products. The last earnings update was 25 days ago. More info.


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2313 Share Price and Events
7 Day Returns
1.3%
SEHK:2313
1.7%
HK Luxury
0.5%
HK Market
1 Year Returns
27.6%
SEHK:2313
-5%
HK Luxury
-6.1%
HK Market
2313 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shenzhou International Group Holdings (2313) 1.3% -2% 12.9% 27.6% 160% 274.6%
HK Luxury 1.7% 1% 14.6% -5% 17.2% 6%
HK Market 0.5% 1.1% 11.2% -6.1% 25.9% 19.4%
1 Year Return vs Industry and Market
  • 2313 outperformed the Luxury industry which returned -5% over the past year.
  • 2313 outperformed the Market in Hong Kong which returned -6.1% over the past year.
Price Volatility
2313
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Shenzhou International Group Holdings's competitors could be found in our database.

2313 Value

 Is Shenzhou International Group 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 Shenzhou International Group 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 Shenzhou International Group Holdings.

SEHK:2313 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 24 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.9%
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:2313
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 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.731 (1 + (1- 25%) (1.87%))
0.826
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.826 * 5.96%)
6.93%

Discounted Cash Flow Calculation for SEHK:2313 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Shenzhou International Group 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:2313 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 6.93%)
2019 3,891.64 Analyst x11 3,639.49
2020 4,583.58 Analyst x12 4,008.86
2021 5,587.20 Analyst x10 4,570.03
2022 6,360.00 Analyst x3 4,865.08
2023 7,273.67 Analyst x3 5,203.48
2024 8,000.25 Est @ 9.99% 5,352.45
2025 8,607.75 Est @ 7.59% 5,385.75
2026 9,117.01 Est @ 5.92% 5,334.79
2027 9,549.36 Est @ 4.74% 5,225.74
2028 9,923.74 Est @ 3.92% 5,078.75
Present value of next 10 years cash flows CN¥48,664.41
SEHK:2313 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥9,923.74 × (1 + 2%) ÷ (6.93% – 2%)
CN¥205,528.94
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥205,528.94 ÷ (1 + 6.93%)10
CN¥105,185.11
SEHK:2313 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥48,664.41 + CN¥105,185.11
CN¥153,849.53
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥153,849.53 / 1,503.22
CN¥102.35
SEHK:2313 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2313)
1.169
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥102.35 x 1.169
HK$119.69
Value per share (HKD) From above. HK$119.69
Current discount Discount to share price of HK$104.50
= -1 x (HK$104.50 - HK$119.69) / HK$119.69
12.7%

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

Current Discount
Amount off the current price Shenzhou International Group Holdings is available for.
Intrinsic value
13%
Share price is HK$104.5 vs Future cash flow value of HK$119.69
Current Discount Checks
For Shenzhou International Group Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Shenzhou International Group Holdings's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Shenzhou International Group Holdings's share price is below the future cash flow value, but not 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 Shenzhou International Group Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shenzhou International Group Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2313 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥3.02
SEHK:2313 Share Price ** SEHK (2019-04-18) in HKD HK$104.5
SEHK:2313 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥89.35
Hong Kong Luxury Industry PE Ratio Median Figure of 76 Publicly-Listed Luxury Companies 10.37x
Hong Kong Market PE Ratio Median Figure of 1,474 Publicly-Listed Companies 12x

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

** Primary Listing of Shenzhou International Group Holdings.

SEHK:2313 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2313 Share Price ÷ EPS (both in CNY)

= 89.35 ÷ 3.02

29.58x

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

  • Shenzhou International Group Holdings is overvalued based on earnings compared to the HK Luxury industry average.
  • Shenzhou International Group Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Shenzhou International Group Holdings's expected growth come at a high price?
Raw Data
SEHK:2313 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 29.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 24 Analysts
17.1%per year
Hong Kong Luxury Industry PEG Ratio Median Figure of 22 Publicly-Listed Luxury Companies 0.89x
Hong Kong Market PEG Ratio Median Figure of 462 Publicly-Listed Companies 0.86x

*Line of best fit is calculated by linear regression .

SEHK:2313 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 29.58x ÷ 17.1%

1.73x

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

  • Shenzhou International Group Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Shenzhou International Group Holdings's assets?
Raw Data
SEHK:2313 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥14.83
SEHK:2313 Share Price * SEHK (2019-04-18) in HKD HK$104.5
SEHK:2313 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥89.35
Hong Kong Luxury Industry PB Ratio Median Figure of 120 Publicly-Listed Luxury Companies 1.11x
Hong Kong Market PB Ratio Median Figure of 2,149 Publicly-Listed Companies 1.03x
SEHK:2313 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2313 Share Price ÷ Book Value per Share (both in CNY)

= 89.35 ÷ 14.83

6.02x

* Primary Listing of Shenzhou International Group Holdings.

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

  • Shenzhou International Group Holdings is overvalued based on assets compared to the HK Luxury industry average.
X
Value checks
We assess Shenzhou International Group 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. Shenzhou International Group Holdings has a total score of 0/6, 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.

2313 Future Performance

 How is Shenzhou International Group Holdings expected to perform in the next 1 to 3 years based on estimates from 24 analysts?

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
17.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shenzhou International Group Holdings expected to grow at an attractive rate?
  • Shenzhou International Group Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Shenzhou International Group Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Shenzhou International Group Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:2313 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2313 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 24 Analysts 17.1%
SEHK:2313 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 24 Analysts 13.1%
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 11.2%

*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:2313 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 24 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2313 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 43,853 1
2022-12-31 37,997 1
2021-12-31 32,890 6,764 7,637 18
2020-12-31 27,965 5,768 6,362 24
2019-12-31 23,908 5,258 5,371 24
SEHK:2313 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 20,950 4,540
2018-09-30 19,966 4,342
2018-06-30 18,982 3,859 4,143
2018-03-31 18,533 3,774 3,953
2017-12-31 18,085 3,689 3,763
2017-09-30 17,248 3,281 3,530
2017-06-30 16,411 2,874 3,296
2017-03-31 15,755 2,967 3,122
2016-12-31 15,099 3,061 2,948
2016-09-30 14,557 3,113 2,816
2016-06-30 14,014 3,164 2,684
2016-03-31 13,327 2,712 2,519

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shenzhou International Group Holdings's earnings are expected to grow by 17.1% yearly, however this is not considered high growth (20% yearly).
  • Shenzhou International Group Holdings's revenue is expected to grow by 13.1% yearly, however this is not considered high growth (20% yearly).
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:2313 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 24 Analyst Estimates (S&P Global) See Below

All data from Shenzhou International Group Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2313 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 5.11 5.82 4.20 16.00
2020-12-31 4.26 4.80 3.73 21.00
2019-12-31 3.57 3.80 3.34 22.00
SEHK:2313 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 3.02
2018-09-30 2.89
2018-06-30 2.76
2018-03-31 2.67
2017-12-31 2.58
2017-09-30 2.47
2017-06-30 2.34
2017-03-31 2.23
2016-12-31 2.11
2016-09-30 2.01
2016-06-30 1.92
2016-03-31 1.80

*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.
  • Shenzhou International Group Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Shenzhou International Group 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.
Shenzhou International Group Holdings has a total score of 4/6, 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.

2313 Past Performance

  How has Shenzhou International Group 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 Shenzhou International Group 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.
  • Shenzhou International Group Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Shenzhou International Group Holdings's 1-year earnings growth exceeds its 5-year average (20.7% vs 19.6%)
  • Shenzhou International Group Holdings's earnings growth has exceeded the HK Luxury industry average in the past year (20.7% vs 3.2%).
Earnings and Revenue History
Shenzhou International Group 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 Shenzhou International Group Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2313 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 20,950.21 4,540.49 2,158.18
2018-09-30 19,965.88 4,341.71 1,995.35
2018-06-30 18,981.56 4,142.93 1,832.52
2018-03-31 18,533.40 3,952.82 1,766.76
2017-12-31 18,085.25 3,762.72 1,701.01
2017-09-30 17,248.07 3,529.58 1,638.50
2017-06-30 16,410.89 3,296.44 1,575.99
2017-03-31 15,754.98 3,122.06 1,516.24
2016-12-31 15,099.08 2,947.67 1,456.49
2016-09-30 14,556.53 2,815.94 1,396.41
2016-06-30 14,013.99 2,684.20 1,336.32
2016-03-31 13,326.66 2,519.43 1,276.94
2015-12-31 12,639.33 2,354.66 1,217.56
2015-09-30 12,182.17 2,298.50 1,165.23
2015-06-30 11,725.02 2,242.33 1,112.91
2015-03-31 11,428.27 2,154.10 1,076.87
2014-12-31 11,131.53 2,065.87 1,040.83
2014-09-30 10,694.87 1,946.15 995.81
2014-06-30 10,258.22 1,826.43 950.80
2014-03-31 10,152.72 1,814.71 905.95
2013-12-31 10,047.22 1,802.99 861.10
2013-09-30 9,699.31 1,758.39 833.33
2013-06-30 9,351.41 1,713.79 805.56
2013-03-31 9,144.49 1,666.97 774.60
2012-12-31 8,937.58 1,620.16 743.64
2012-09-30 9,053.63 1,647.24 713.33
2012-06-30 9,169.68 1,674.33 683.03

*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.
  • Shenzhou International Group Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Shenzhou International Group Holdings used its assets more efficiently than the HK Luxury industry average last year based on Return on Assets.
  • Shenzhou International Group Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Shenzhou International Group 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.
Shenzhou International Group Holdings has a total score of 6/6, 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.

2313 Health

 How is Shenzhou International Group 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 Shenzhou International Group Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shenzhou International Group Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Shenzhou International Group Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Shenzhou International Group 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 7.2x 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 Shenzhou International Group Holdings Company Filings, last reported 3 months ago.

SEHK:2313 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 22,454.28 2,516.75 8,175.59
2018-09-30 22,454.28 2,516.75 8,175.59
2018-06-30 21,085.62 2,206.08 6,159.44
2018-03-31 21,085.62 2,206.08 6,159.44
2017-12-31 19,824.65 2,130.41 6,512.20
2017-09-30 19,824.65 2,130.41 6,512.20
2017-06-30 18,360.97 2,190.00 5,443.45
2017-03-31 18,360.97 2,190.00 5,443.45
2016-12-31 15,309.60 4,651.58 5,240.54
2016-09-30 15,309.60 4,651.58 5,240.54
2016-06-30 13,367.16 4,640.27 5,228.80
2016-03-31 13,367.16 4,640.27 5,228.80
2015-12-31 13,089.84 3,773.86 3,064.44
2015-09-30 13,089.84 3,773.86 3,064.44
2015-06-30 11,795.24 4,054.07 4,003.77
2015-03-31 11,795.24 4,054.07 4,003.77
2014-12-31 11,811.33 2,911.41 4,459.83
2014-09-30 11,811.33 2,911.41 4,459.83
2014-06-30 10,661.18 2,847.82 5,445.22
2014-03-31 10,661.18 2,847.82 5,445.22
2013-12-31 10,331.66 0.00 2,838.93
2013-09-30 10,331.66 0.00 2,838.93
2013-06-30 9,473.66 904.29 3,022.12
2013-03-31 9,473.66 904.29 3,022.12
2012-12-31 8,122.13 786.23 2,275.77
2012-09-30 8,122.13 786.23 2,275.77
2012-06-30 7,296.73 1,092.00 2,161.51
  • Shenzhou International Group Holdings's level of debt (11.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.3% vs 11.2% today).
  • Debt is well covered by operating cash flow (153.3%, greater than 20% of total debt).
  • Shenzhou International Group Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Shenzhou International Group 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. Shenzhou International Group Holdings has a total score of 5/6, 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.

2313 Dividends

 What is Shenzhou International Group 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
1.72%
Current annual income from Shenzhou International Group Holdings dividends. Estimated to be 2.49% next year.
If you bought HK$2,000 of Shenzhou International Group Holdings shares you are expected to receive HK$34 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?
  • Shenzhou International Group Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (1.94%).
  • Shenzhou International Group Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.34%).
Upcoming dividend payment

Purchase Shenzhou International Group 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:2313 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 24 Analyst Estimates (S&P Global) See Below
Hong Kong Luxury Industry Average Dividend Yield Market Cap Weighted Average of 56 Stocks 2.7%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 965 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 1.9%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

SEHK:2313 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 2.83 13.00
2020-12-31 2.20 20.00
2019-12-31 1.86 20.00
SEHK:2313 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-25 1.535 1.719
2018-09-27 1.440 1.755
2018-08-27 1.440 1.699
2018-04-24 1.205 1.611
2017-09-27 1.220 1.986
2017-08-21 1.452 2.857
2017-03-27 1.020 2.302
2016-03-21 0.890 2.377
2015-04-24 0.799 2.569
2015-03-25 0.799 2.739
2014-04-25 0.591 2.830
2014-03-25 0.599 2.916
2013-03-27 0.389 2.008
2012-08-20 0.400 3.118
2012-03-26 0.405 3.602
2011-03-28 0.292 3.431
2010-03-29 0.310 3.950
2009-04-24 0.180 3.411
2009-04-20 0.180 8.681

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Shenzhou International Group Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Shenzhou International Group Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Shenzhou International Group Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shenzhou International Group Holdings has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

2313 Management

 What is the CEO of Shenzhou International Group 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
Guanlin Huang
COMPENSATION CN¥1,450,000
AGE 53
CEO Bio

Mr. Guanlin Huang has been General Manager of Shenzhou International Group Holdings Ltd. since July 12,2005 and serves as its Chief Executive Officer. Mr. Huang is responsible for the daily operations of Shenzhou International Group Holdings Ltd. such as production, sales and marketing. He has been a general manager of Shenzhou Knitwear since April 2005. He has over 21 years of experience in the textile industry. Prior to joining Shenzhou International Group Holdings Ltd. in 1989, he worked for a silk knitting mill in Yuhang County, Zhejiang Province. After joining the Group, Mr. Huang served as Manager and a Deputy General Manager of the production and operation department of Ningbo Weaving. He has been an Executive Director of Shenzhou International Group Holdings Ltd. since July 12, 2005. Mr. Huang graduated from Zhejiang University of Technology majoring in chemical industry management and engineering.

CEO Compensation
  • Guanlin's compensation has been consistent with company performance over the past year.
  • Guanlin's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team

Jianrong Ma

TITLE
Chairman of the Board
COMPENSATION
CN¥2M
AGE
54

Guanlin Huang

TITLE
CEO, GM & Executive Director
COMPENSATION
CN¥1M
AGE
53

Cunbo Wang

TITLE
Deputy GM
COMPENSATION
CN¥1M
AGE
46
TENURE
14.9 yrs

Renhe Ma

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥1M
AGE
58

Zhifen Chen

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥1M
AGE
49

Kenji Chan

TITLE
Financial Controller & Company Secretary
AGE
47
TENURE
10.6 yrs
Board of Directors Tenure

Average tenure and age of the Shenzhou International Group Holdings board of directors in years:

6
Average Tenure
54
Average Age
  • The tenure for the Shenzhou International Group Holdings board of directors is about average.
Board of Directors

Jianrong Ma

TITLE
Chairman of the Board
COMPENSATION
CN¥2M
AGE
54

Guanlin Huang

TITLE
CEO, GM & Executive Director
COMPENSATION
CN¥1M
AGE
53
TENURE
13.8 yrs

Cunbo Wang

TITLE
Deputy GM
COMPENSATION
CN¥1M
AGE
46
TENURE
8.3 yrs

Renhe Ma

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥1M
AGE
58
TENURE
13.8 yrs

Zhifen Chen

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥1M
AGE
49
TENURE
5.3 yrs

Xianpin Jiang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥135K
AGE
53

Xu Chen

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥39K
AGE
70
TENURE
5.3 yrs

Weiguo Qiu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥39K
AGE
66
TENURE
6 yrs

Bingsheng Zhang

TITLE
Independent Non-Executive Director
AGE
56
TENURE
0.6 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$) Value (HK$)
14. Dec 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 11. Dec 18 11. Dec 18 -417,118 HK$96.60 HK$-40,291,679
12. Dec 18 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 07. Dec 18 07. Dec 18 947,971 HK$98.25 HK$93,134,644
12. Dec 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 07. Dec 18 07. Dec 18 -39,000 HK$98.25 HK$-3,831,606
12. Dec 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 07. Dec 18 07. Dec 18 31,679 HK$98.25 HK$3,112,345
12. Dec 18 Buy China International Fund Management Company Limited Company 07. Dec 18 07. Dec 18 6,000 HK$98.25 HK$589,478
12. Dec 18 Sell J.P. Morgan Asset Management, Inc. Company 07. Dec 18 07. Dec 18 -1,000 HK$98.25 HK$-98,246
12. Dec 18 Buy J.P. Morgan Asset Management, Inc. Company 07. Dec 18 07. Dec 18 12,321 HK$98.25 HK$1,210,493
11. Dec 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 06. Dec 18 06. Dec 18 -806,997 HK$96.66 HK$-78,000,695
X
Management checks
We assess Shenzhou International Group 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. Shenzhou International Group 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.

2313 News

Simply Wall St News

What Should We Expect From Shenzhou International Group Holdings Limited's (HKG:2313) Earnings Over The Next Few Years?

In December 2018, Shenzhou International Group Holdings Limited (HKG:2313) released its latest earnings announcement, whicha

Simply Wall St -

How Much Money Does Shenzhou International Group Holdings Limited (HKG:2313) Make?

Two important questions to ask before you buy Shenzhou International Group Holdings Limited (HKG:2313) is, how it makes money and how it spends its cash. … Today we will examine Shenzhou International Group Holdings’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … Is Shenzhou International Group Holdings generating enough cash.

Simply Wall St -

Shenzhou International Group Holdings Limited (HKG:2313): Is It A Smart Long Term Opportunity?

On 31 December 2018, Shenzhou International Group Holdings Limited (HKG:2313) announced its earnings update. … in-line with historical trends, with earnings growth rate expected to be 19% in the upcoming year, relative to the past five-year average earnings growth of 20% per year

Simply Wall St -

Have Investors Priced In Shenzhou International Group Holdings Limited's (HKG:2313) Growth?

Shenzhou International Group Holdings Limited (HKG:2313) is considered a high growth stock. … View our latest analysis for Shenzhou International Group Holdings? … The excitement around Shenzhou International Group Holdings's growth potential is not unfounded

Simply Wall St -

Is Shenzhou International Group Holdings Limited (HKG:2313) Potentially Underrated?

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Shenzhou International Group Holdings Limited (HKG:2313) due to its excellent fundamentals in more than one area.

Simply Wall St -

All You Need To Know About Shenzhou International Group Holdings Limited's (HKG:2313) Financial Health

Investors looking for stocks with high market liquidity and little debt on the balance sheet should consider Shenzhou International Group Holdings Limited (HKG:2313). … With a market valuation of HK$154b, 2313 is a safe haven in times of market uncertainty due to its strong balance sheet. … See our latest analysis for Shenzhou International Group Holdings?

Simply Wall St -

Is Shenzhou International Group Holdings's Share Price Gain Of 269% Well Earned?

For example, the Shenzhou International Group Holdings Limited (HKG:2313) share price has soared 269% in the last half decade. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Over half a decade, Shenzhou International Group Holdings managed to grow its earnings per share at 17% a year.

Simply Wall St -

Do Insiders Own Lots Of Shares In Shenzhou International Group Holdings Limited (HKG:2313)?

Every investor in Shenzhou International Group Holdings Limited (HKG:2313) should be aware of the most powerful shareholder groups. … Shenzhou International Group Holdings has a market capitalization of HK$146b, so it's too big to fly under the radar. … View our latest analysis for Shenzhou International Group Holdings

Simply Wall St -

Is Shenzhou International Group Holdings Limited (HKG:2313) A Smart Choice For Dividend Investors?

Historically, Shenzhou International Group Holdings Limited (HKG:2313) has paid dividends to shareholders, and these days it yields 1.8%. … Let's take a look at Shenzhou International Group Holdings in more detail. … See our latest analysis for Shenzhou International Group Holdings?

Simply Wall St -

Can Shenzhou International Group Holdings Limited's (HKG:2313) ROE Continue To Surpass The Industry Average?

To keep the lesson grounded in practicality, we'll use ROE to better understand Shenzhou International Group Holdings Limited (HKG:2313). … Over the last twelve months Shenzhou International Group Holdings has recorded a ROE of 20%. … View our latest analysis for Shenzhou International Group Holdings?

Simply Wall St -

2313 Company Info

Description

Shenzhou International Group Holdings Limited, an investment holding company, engages in manufacturing, processing, and selling knitwear products. It focuses on producing sportswear, casual wear, and lingerie wear. It is also involved in the import and export of commodities; clothing detection; print and sale of knitwear products; retail business; and property management and leasing activities. Shenzhou International Group Holdings Limited offers its products in Japan, Mainland China, European Union, the United States, and internationally. The company was incorporated in 2005 and is headquartered in Ningbo, the People’s Republic of China. Shenzhou International Group Holdings Limited is a subsidiary of Keep Glory Limited.

Details
Name: Shenzhou International Group Holdings Limited
2313
Exchange: SEHK
Founded: 2005
HK$157,086,740,486
1,503,222,397
Website: http://www.shenzhouintl.com
Address: Shenzhou International Group Holdings Limited
18 Yongjiang Road,
Ningbo Economic and Technical Development Zone,
Ningbo,
Zhejiang Province, China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2313 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 24. Nov 2005
OTCPK SZHI.F Ordinary Shares Pink Sheets LLC US USD 24. Nov 2005
DB S6L Ordinary Shares Deutsche Boerse AG DE EUR 24. Nov 2005
SHSC 2313 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 24. Nov 2005
SZSC 2313 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 24. Nov 2005
OTCPK SHZH.Y UNSPONSORD ADR Pink Sheets LLC US USD 16. Dec 2016
Number of employees
Current staff
Staff numbers
82,700
Shenzhou International Group Holdings employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 12:41
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/08
Last earnings filing: 2019/03/25
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.