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Yangtzekiang Garment

SEHK:294
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
294
SEHK
HK$765M
Market Cap
  1. Home
  2. HK
  3. Consumer Durables
Company description

Yangtzekiang Garment Limited engages in manufacturing, sourcing, wholesaling, and retailing garment and textiles. The last earnings update was 147 days ago. More info.


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294 Share Price and Events
7 Day Returns
-1.6%
SEHK:294
-2.9%
HK Luxury
-2.2%
HK Market
1 Year Returns
28.6%
SEHK:294
-14.3%
HK Luxury
-15.4%
HK Market
294 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Yangtzekiang Garment (294) -1.6% 3.6% 13% 28.6% 30% 36.1%
HK Luxury -2.9% -8.4% -2.3% -14.3% 14.8% -0.7%
HK Market -2.2% -9.5% -6% -15.4% 22% 6.7%
1 Year Return vs Industry and Market
  • 294 outperformed the Luxury industry which returned -14.3% over the past year.
  • 294 outperformed the Market in Hong Kong which returned -15.4% over the past year.
Price Volatility
294
Industry
5yr Volatility vs Market

294 Value

 Is Yangtzekiang Garment 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 Yangtzekiang Garment 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 Yangtzekiang Garment.

SEHK:294 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 7.4%
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:294
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 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.721 (1 + (1- 25%) (0%))
0.813
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% + (0.813 * 6.65%)
7.41%

Discounted Cash Flow Calculation for SEHK:294 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Yangtzekiang Garment 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:294 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 7.41%)
2019 0.03 Est @ -91.49% 0.03
2020 0.01 Est @ -63.44% 0.01
2021 0.01 Est @ -43.81% 0.01
2022 0.00 Est @ -30.07% 0.00
2023 0.00 Est @ -20.45% 0.00
2024 0.00 Est @ -13.71% 0.00
2025 0.00 Est @ -9% 0.00
2026 0.00 Est @ -5.7% 0.00
2027 0.00 Est @ -3.39% 0.00
2028 0.00 Est @ -1.77% 0.00
Present value of next 10 years cash flows HK$0.06
SEHK:294 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$0.00 × (1 + 2%) ÷ (7.41% – 2%)
HK$0.05
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$0.05 ÷ (1 + 7.41%)10
HK$0.02
SEHK:294 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$0.06 + HK$0.02
HK$0.08
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$0.08 / 206.75
HK$0
SEHK:294 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.00
Current discount Discount to share price of HK$3.73
= -1 x (HK$3.73 - HK$0.00) / HK$0.00
-928828.3%

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

  • The current share price of Yangtzekiang Garment 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 Yangtzekiang Garment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Yangtzekiang Garment's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:294 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in HKD HK$0.19
SEHK:294 Share Price ** SEHK (2019-05-23) in HKD HK$3.73
Hong Kong Luxury Industry PE Ratio Median Figure of 77 Publicly-Listed Luxury Companies 10.01x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 11.07x

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

** Primary Listing of Yangtzekiang Garment.

SEHK:294 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:294 Share Price ÷ EPS (both in HKD)

= 3.73 ÷ 0.19

19.29x

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

  • Yangtzekiang Garment is overvalued based on earnings compared to the HK Luxury industry average.
  • Yangtzekiang Garment is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Yangtzekiang Garment's expected growth come at a high price?
Raw Data
SEHK:294 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.29x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
23.5%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 0.79x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Yangtzekiang Garment, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Yangtzekiang Garment's assets?
Raw Data
SEHK:294 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in HKD HK$5.63
SEHK:294 Share Price * SEHK (2019-05-23) in HKD HK$3.73
Hong Kong Luxury Industry PB Ratio Median Figure of 122 Publicly-Listed Luxury Companies 1.09x
Hong Kong Market PB Ratio Median Figure of 2,157 Publicly-Listed Companies 0.97x
SEHK:294 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:294 Share Price ÷ Book Value per Share (both in HKD)

= 3.73 ÷ 5.63

0.66x

* Primary Listing of Yangtzekiang Garment.

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

  • Yangtzekiang Garment is good value based on assets compared to the HK Luxury industry average.
X
Value checks
We assess Yangtzekiang Garment'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. Yangtzekiang Garment has a total score of 1/6, 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.

294 Future Performance

 How is Yangtzekiang Garment expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Yangtzekiang Garment, 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
23.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Yangtzekiang Garment expected to grow at an attractive rate?
  • Yangtzekiang Garment's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Yangtzekiang Garment's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare Yangtzekiang Garment's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:294 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:294 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 23.5%
Hong Kong Luxury Industry Earnings Growth Rate Market Cap Weighted Average 15.9%
Hong Kong Luxury Industry Revenue Growth Rate Market Cap Weighted Average 11.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*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:294 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 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:294 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-09-30 752 3 40
2018-06-30 751 8 38
2018-03-31 749 12 37
2017-12-31 757 5 28
2017-09-30 764 -3 19
2017-06-30 782 -4 25
2017-03-31 800 -6 30
2016-12-31 825 23 32
2016-09-30 849 51 33
2016-06-30 894 49 19
2016-03-31 938 46 4
2015-12-31 1,009 29 -15

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Yangtzekiang Garment's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Yangtzekiang Garment 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:294 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Yangtzekiang Garment Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:294 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-09-30 0.19
2018-06-30 0.19
2018-03-31 0.18
2017-12-31 0.13
2017-09-30 0.09
2017-06-30 0.12
2017-03-31 0.15
2016-12-31 0.15
2016-09-30 0.16
2016-06-30 0.09
2016-03-31 0.02
2015-12-31 -0.07

*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 Yangtzekiang Garment will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Yangtzekiang Garment'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.
Yangtzekiang Garment 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.

294 Past Performance

  How has Yangtzekiang Garment 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 Yangtzekiang Garment'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.
  • Yangtzekiang Garment's year on year earnings growth rate has been positive over the past 5 years.
  • Yangtzekiang Garment's 1-year earnings growth exceeds its 5-year average (111.5% vs 14.7%)
  • Yangtzekiang Garment's earnings growth has exceeded the HK Luxury industry average in the past year (111.5% vs 2.5%).
Earnings and Revenue History
Yangtzekiang Garment'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 Yangtzekiang Garment Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:294 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 752.33 39.98 114.35
2018-06-30 750.80 38.27 115.16
2018-03-31 749.28 36.56 115.97
2017-12-31 756.71 27.73 117.59
2017-09-30 764.14 18.90 119.22
2017-06-30 782.24 24.64 120.55
2017-03-31 800.34 30.38 121.88
2016-12-31 824.83 31.72 123.31
2016-09-30 849.32 33.06 124.74
2016-06-30 893.88 18.74 127.61
2016-03-31 938.43 4.41 130.48
2015-12-31 1,008.93 -15.19 134.06
2015-09-30 1,079.43 -34.79 137.64
2015-06-30 1,106.65 -29.01 138.71
2015-03-31 1,133.86 -23.24 139.78
2014-12-31 1,095.32 -15.93 140.72
2014-09-30 1,056.77 -8.62 141.67
2014-06-30 1,065.45 1.65 144.83
2014-03-31 1,074.13 11.92 147.98
2013-12-31 1,151.48 48.23 148.70
2013-09-30 1,228.83 84.54 149.41
2013-06-30 1,280.95 68.81 151.86
2013-03-31 1,333.07 53.08 154.31
2012-12-31 1,465.24 46.39 162.87
2012-09-30 1,597.40 39.70 171.42
2012-06-30 1,674.04 71.43 175.00

*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.
  • Yangtzekiang Garment has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Yangtzekiang Garment used its assets less efficiently than the HK Luxury industry average last year based on Return on Assets.
  • Yangtzekiang Garment has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Yangtzekiang Garment'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.
Yangtzekiang Garment has a total score of 4/6, 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.

294 Health

 How is Yangtzekiang Garment'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 Yangtzekiang Garment's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Yangtzekiang Garment is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Yangtzekiang Garment's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Yangtzekiang Garment'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.
  • Yangtzekiang Garment 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 Yangtzekiang Garment Company Filings, last reported 7 months ago.

SEHK:294 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 1,161.67 0.00 282.26
2018-06-30 1,161.67 0.00 282.26
2018-03-31 1,248.97 0.00 340.21
2017-12-31 1,248.97 0.00 340.21
2017-09-30 1,170.97 0.00 337.25
2017-06-30 1,170.97 0.00 337.25
2017-03-31 1,172.45 0.00 330.98
2016-12-31 1,172.45 0.00 330.98
2016-09-30 1,176.98 0.00 319.25
2016-06-30 1,176.98 0.00 319.25
2016-03-31 1,217.66 0.00 332.04
2015-12-31 1,217.66 0.00 332.04
2015-09-30 1,209.26 0.00 273.94
2015-06-30 1,209.26 0.00 273.94
2015-03-31 1,259.84 0.00 293.44
2014-12-31 1,259.84 0.00 293.44
2014-09-30 1,274.31 0.00 251.85
2014-06-30 1,274.31 0.00 251.85
2014-03-31 1,287.29 0.00 302.79
2013-12-31 1,287.29 0.00 302.79
2013-09-30 1,288.22 0.00 290.01
2013-06-30 1,288.22 0.00 290.01
2013-03-31 1,271.93 0.00 311.50
2012-12-31 1,271.93 0.00 311.50
2012-09-30 1,184.54 0.00 300.67
2012-06-30 1,184.54 0.00 300.67
  • Yangtzekiang Garment has no debt.
  • Yangtzekiang Garment has not taken on any debt in the past 5 years.
  • Yangtzekiang Garment has no debt, it does not need to be covered by operating cash flow.
  • Yangtzekiang Garment has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Yangtzekiang Garment'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. Yangtzekiang Garment 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.

294 Dividends

 What is Yangtzekiang Garment'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
3.22%
Current annual income from Yangtzekiang Garment dividends.
If you bought HK$2,000 of Yangtzekiang Garment shares you are expected to receive HK$64 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?
  • Yangtzekiang Garment's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Yangtzekiang Garment's dividend is below the markets top 25% of dividend payers in Hong Kong (5.77%).
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:294 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 2.9%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 968 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:294 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2018-07-30 0.120 3.808
2018-06-27 0.120 4.213
2017-07-27 0.100 3.473
2017-06-27 0.100 3.436
2016-07-28 0.100 3.538
2016-06-29 0.100 3.774
2015-07-28 0.030 1.153
2015-06-23 0.030 1.094
2014-07-30 0.030 1.075
2014-06-17 0.030 1.110
2013-07-25 0.050 1.771
2013-06-21 0.050 1.793
2012-11-29 0.000 0.000
2012-06-26 0.080 2.883
2011-11-29 0.120 4.740
2011-06-28 0.120 5.717
2010-07-19 0.070 3.718
2009-07-10 0.100 6.582

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Yangtzekiang Garment's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x 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 Yangtzekiang Garment'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 Yangtzekiang Garment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Yangtzekiang Garment has a total score of 3/6, see the detailed checks below.


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

294 Management

 What is the CEO of Yangtzekiang Garment'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
Wing Kee Chan
COMPENSATION HK$1,971,000
AGE 71
TENURE AS CEO 32.3 years
CEO Bio

Mr. Wing Kee Chan, GBM, GBS, OBE, JP, has been the Managing Director of Yangtzekiang Garment Limited since 1987. Mr. Chan serves as the Chief Executive Officer of Asia Television Limited. He joined Yangtzekiang Garment Limited in 1970 as Production Manager and served as its Sales Manager. He has been an Executive Director of Yangtzekiang Garment Limited 1977. He serves as the President of Chinese Manufacturers' Association of Hong Kong. He serves as Honorary President of The Unified Association of Kowloon West, Council Chairman of Cheng Si-yuan ( China-International) Hepatitis Research Foundation, Honorary President of Federation of Hong Kong Garment Manufacturers, Life Honorary President of Hong Kong Chamber of Commerce in China/Guangdong, Honorary Chairman of Hong Kong Shippers' Council, Honorary Chairman of Textile Council of Hong Kong, Vice Chairman of Friends of Hong Kong Association, Vice Chairman of Hong Kong Federation of Overseas Chinese Associations, Vice Chairman of Federation of Hong Kong Guangdong Community Organizations, Ex- Council Member of Hong Kong Trade Development Council, Ex-Member of Textile Advisory Board and Member of Economic Council of Macau. He has been an Executive Director of YGM Trading Ltd. since 1987. He serves as a Director of Hong Kong Knitters Limited. He had been an Independent Non-Executive Director of China Travel International Investment Hong Kong Limited since August 21, 2007 until October 24, 2018. He has been an Independent Non-Executive Director of Kingboard Chemical Holdings Limited since July 1, 2017. He has been an Independent Non-Executive Director at China Construction Bank (Asia) Corporation Limited since November 01, 2002. He served as an Independent Non-Executive Director at Lotte Mart China Co., Ltd. He served as an Independent Non Executive Director of Wheelock and Company Ltd., from September 1, 2003 to December 11, 2003. Mr. Chan has participated in many textile negotiations with the US and Europe for Hong Kong and Macau. He is a Member of the Textile Advisory Board of Hong Kong, a Member of Economic Council of Macau S.A.R., Standing Committee Member of The People's Political Consultative Committee of the People's Republic of China, Deputy of the 8th and 9th National People's Congress of China, Ex-Committee Member of the Preparatory Committee for Hong Kong Special Administrative Region and Ex-Advisor of Hong Kong Affairs. Mr. Chan graduated from Purdue University with a Bachelor of Science degree in Industrial Engineering.

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

Peter Chan

TITLE
Chairman of the Board
COMPENSATION
HK$2M
AGE
73

Wing Kee Chan

TITLE
MD & Executive Director
COMPENSATION
HK$2M
AGE
71
TENURE
32.3 yrs

Shirley Chan

TITLE
Executive Director
COMPENSATION
HK$60K
AGE
67

Suk Chan

TITLE
Executive Director
COMPENSATION
HK$1M
AGE
70

Wing Chan

TITLE
Deputy MD & Executive Director
COMPENSATION
HK$60K
AGE
67

Alan So

TITLE
GM & Executive Director
COMPENSATION
HK$2M
AGE
68

Samuel Chan

TITLE
Executive Director
COMPENSATION
HK$60K
AGE
70

Sau Hui

TITLE
Financial Controller & Company Secretary
AGE
52
TENURE
19.3 yrs
Board of Directors Tenure

Average tenure and age of the Yangtzekiang Garment board of directors in years:

26.3
Average Tenure
69
Average Age
  • The average tenure for the Yangtzekiang Garment board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Peter Chan

TITLE
Chairman of the Board
COMPENSATION
HK$2M
AGE
73

Wing Kee Chan

TITLE
MD & Executive Director
COMPENSATION
HK$2M
AGE
71
TENURE
42.3 yrs

Shirley Chan

TITLE
Executive Director
COMPENSATION
HK$60K
AGE
67
TENURE
36.3 yrs

Suk Chan

TITLE
Executive Director
COMPENSATION
HK$1M
AGE
70
TENURE
26.3 yrs

Wing Chan

TITLE
Deputy MD & Executive Director
COMPENSATION
HK$60K
AGE
67
TENURE
36.3 yrs

Alan So

TITLE
GM & Executive Director
COMPENSATION
HK$2M
AGE
68
TENURE
13.5 yrs

Samuel Chan

TITLE
Executive Director
COMPENSATION
HK$60K
AGE
70
TENURE
42.3 yrs

Keping Lin

TITLE
Independent Non-Executive Director
COMPENSATION
HK$110K
AGE
79
TENURE
15.3 yrs

Ting Choi

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
63
TENURE
6.4 yrs

Stephen So

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
62
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
03. Jan 19 Buy Wing Chan Individual 03. Jan 19 03. Jan 19 41,000 HK$3.07 HK$125,899
27. Dec 18 Buy Wing Chan Individual 27. Dec 18 27. Dec 18 120,000 HK$3.10 HK$372,000
24. Dec 18 Buy Wing Chan Individual 21. Dec 18 21. Dec 18 100,000 HK$3.08 HK$308,130
18. Dec 18 Buy Wing Chan Individual 14. Dec 18 14. Dec 18 114,000 HK$2.96 HK$336,995
18. Dec 18 Buy Wing Chan Individual 14. Dec 18 14. Dec 18 100,000 HK$2.94 HK$294,380
X
Management checks
We assess Yangtzekiang Garment'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. Yangtzekiang Garment 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.

294 News

Simply Wall St News

Should Yangtzekiang Garment Limited’s (HKG:294) Weak Investment Returns Worry You?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Yangtzekiang Garment: 0.008 = HK$9.6m ÷ (HK$1.3b - HK$131m) (Based on the trailing twelve months to September 2018.) So, Yangtzekiang Garment has an ROCE of 0.8%. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise. … With barely any current liabilities, there is minimal impact on Yangtzekiang Garment's admittedly low ROCE.

Simply Wall St -

Zooming in on HKG:294's 3.1% Dividend Yield

Today we'll take a closer look at Yangtzekiang Garment Limited (HKG:294) from a dividend investor's perspective. … Owning a strong dividend company and reinvesting the dividends is widely seen as an attractive way of growing your wealth. … Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below.

Simply Wall St -

How Yangtzekiang Garment Limited (HKG:294) Could Add Value To Your Portfolio

In the case of Yangtzekiang Garment Limited (HKG:294), there's. … Below is a brief commentary on these key aspects … For those interested in digger a bit deeper into my commentary,

Simply Wall St -

Do Insiders Own Lots Of Shares In Yangtzekiang Garment Limited (HKG:294)?

Every investor in Yangtzekiang Garment Limited (HKG:294) should be aware of the most powerful shareholder groups. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Yangtzekiang Garment is a smaller company with a market capitalization of HK$668m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Does Yangtzekiang Garment Limited's (HKG:294) CEO Salary Compare Well With Others?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Wing Chan's Compensation Compare With Similar Sized Companies. … According to our data, Yangtzekiang Garment Limited has a market capitalization of HK$699m, and pays its CEO total annual compensation worth HK$2.0m.

Simply Wall St -

Can You Imagine How Yangtzekiang Garment's Shareholders Feel About The 16% Share Price Increase?

To wit, the Yangtzekiang Garment Limited (HKG:294) share price is 16% higher than it was a year ago, much better than the market return of around -7.7% in the same period. … During the last year Yangtzekiang Garment grew its earnings per share (EPS) by 111%. … This EPS growth is significantly higher than the 16% increase in the share price.

Simply Wall St -

Did Yangtzekiang Garment Limited (HKG:294) Insiders Buy Up More Shares?

So before you buy or sell Yangtzekiang Garment Limited (HKG:294), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … The Last 12 Months Of Insider Transactions At Yangtzekiang Garment

Simply Wall St -

Why We’re Not Keen On Yangtzekiang Garment Limited’s (HKG:294) 0.8% Return On Capital

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Is Yangtzekiang Garment Limited (HKG:294) An Attractive Dividend Stock?

Historically, Yangtzekiang Garment Limited (HKG:294) has paid a dividend to shareholders. … Let's dig deeper into whether Yangtzekiang Garment should have a place in your portfolio. … View our latest analysis for Yangtzekiang Garment

Simply Wall St -

Despite Its High P/E Ratio, Is Yangtzekiang Garment Limited (HKG:294) Still Undervalued?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … Yangtzekiang Garment has a price to earnings ratio of 15.52, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

294 Company Info

Description

Yangtzekiang Garment Limited engages in manufacturing, sourcing, wholesaling, and retailing garment and textiles. It operates through three segments: Manufacture and Sale of Garments and Textiles; Interests in Joint Ventures; and Property Leasing. Its products include men’s and ladies’ shirts, trousers, shorts, polo shirts, T-shirts, skirts, loungewear, underwear and pyjamas, suits and jackets, knitted outerwear, blouses, etc. The company engages in the manufacture and sale of textile yarn products, as well as knitting and dyeing fabrics. In addition, it provides garment processing services; and leases commercial and industrial premises. The company sells its products and services primarily in the United Kingdom, Italy, Spain, and other European countries; Mainland China; the United States and Canada; and internationally. The company was formerly known as Yangtzekiang Garment Mfg. Co., Ltd. and changed its name to Yangtzekiang Garment Limited in 2005. Yangtzekiang Garment Limited was founded in 1949 and is based in San Po Kong, Hong Kong.

Details
Name: Yangtzekiang Garment Limited
294
Exchange: SEHK
Founded: 1949
HK$764,967,600
206,748,000
Website: http://www.ygm.com.hk
Address: Yangtzekiang Garment Limited
22 Tai Yau Street,
San Po Kong,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 294 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
Number of employees
Current staff
Staff numbers
3,700
Yangtzekiang Garment employees.
Industry
Textiles
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 12:34
End of day share price update: 2019/05/23 00:00
Last earnings filing: 2018/12/27
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


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.