Yangtzekiang Garment
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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 Year Returns
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.
294 Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Yangtzekiang Garment.
| 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.
| 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.
| 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 | ||
| 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 |
| 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 |
| 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.
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?
| 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.
| 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?
| 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?
| 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 |
| 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.
Value checks
We assess Yangtzekiang Garment's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check) 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
- 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!
Earnings growth vs Low Risk Savings
- 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
| 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
| 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 |
| 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.
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.
| 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.
Future performance checks
We assess Yangtzekiang Garment's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from Yangtzekiang Garment Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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).
Past performance checks
We assess Yangtzekiang Garment's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from Yangtzekiang Garment Company Filings, last reported 7 months ago.
| 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.
Financial health checks
We assess Yangtzekiang Garment's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Yangtzekiang Garment has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
HK$2,000 of
Yangtzekiang Garment
shares you are expected to receive
HK$64
in your first year as a dividend.
Dividend Amount
- Yangtzekiang Garment's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
- Yangtzekiang Garment's dividend is below the markets top 25% of dividend payers in Hong Kong (5.77%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
| Hong Kong Luxury Industry Average Dividend Yield | Market Cap Weighted Average of 57 Stocks | 2.9% |
| Hong Kong Market Average Dividend Yield | Market Cap Weighted Average of 968 Stocks | 3.7% |
| Hong Kong Minimum Threshold Dividend Yield | 10th Percentile | 1.2% |
| Hong Kong Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Hong Kong Top 25% Dividend Yield | 75th Percentile | 5.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in HK$) | 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.
Income/ dividend checks
We assess Yangtzekiang Garment's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| 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
Chairman of the Board
HK$2M
73
Wing Kee Chan
MD & Executive Director
HK$2M
71
32.3 yrs
Shirley Chan
Executive Director
HK$60K
67
Suk Chan
Executive Director
HK$1M
70
Wing Chan
Deputy MD & Executive Director
HK$60K
67
Alan So
GM & Executive Director
HK$2M
68
Samuel Chan
Executive Director
HK$60K
70
Sau Hui
Financial Controller & Company Secretary
52
19.3 yrs
Board of Directors Tenure
Average tenure and age of the Yangtzekiang Garment board of directors in years:
- 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
Chairman of the Board
HK$2M
73
Wing Kee Chan
MD & Executive Director
HK$2M
71
42.3 yrs
Shirley Chan
Executive Director
HK$60K
67
36.3 yrs
Suk Chan
Executive Director
HK$1M
70
26.3 yrs
Wing Chan
Deputy MD & Executive Director
HK$60K
67
36.3 yrs
Alan So
GM & Executive Director
HK$2M
68
13.5 yrs
Samuel Chan
Executive Director
HK$60K
70
42.3 yrs
Keping Lin
Independent Non-Executive Director
HK$110K
79
15.3 yrs
Ting Choi
Independent Non-Executive Director
HK$150K
63
6.4 yrs
Stephen So
Independent Non-Executive Director
HK$150K
62
1.7 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (HK$) | 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 | ||
Management checks
We assess Yangtzekiang Garment's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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 - – Full articleZooming 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 - – Full articleHow 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 - – Full articleDo 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 - – Full articleDoes 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 - – Full articleCan 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 - – Full articleDid 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 - – Full articleWhy 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 - – Full articleIs 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 - – Full articleDespite 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 - – Full article294 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
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.
