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Yongsheng Advanced Materials

SEHK:3608
Snowflake Description

Flawless balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3608
SEHK
HK$2B
Market Cap
  1. Home
  2. HK
  3. Consumer Durables
Company description

Yongsheng Advanced Materials Company Limited, an investment holding company, develops and manufactures polyester filament yarns and 3D printing materials in the People’s Republic of China. The last earnings update was 38 days ago. More info.


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  • Yongsheng Advanced Materials has significant price volatility in the past 3 months.
3608 Share Price and Events
7 Day Returns
2.5%
SEHK:3608
-4.1%
HK Luxury
-2.4%
HK Market
1 Year Returns
-31.5%
SEHK:3608
-14.5%
HK Luxury
-16.5%
HK Market
3608 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Yongsheng Advanced Materials (3608) 2.5% -6.8% -15.2% -31.5% 38% 30.2%
HK Luxury -4.1% -9.9% -4.5% -14.5% 13.6% -1.2%
HK Market -2.4% -9% -8.1% -16.5% 19.3% 4.9%
1 Year Return vs Industry and Market
  • 3608 underperformed the Luxury industry which returned -14.5% over the past year.
  • 3608 underperformed the Market in Hong Kong which returned -16.5% over the past year.
Price Volatility
3608
Industry
5yr Volatility vs Market

3608 Value

 Is Yongsheng Advanced Materials 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 Yongsheng Advanced Materials 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 Yongsheng Advanced Materials.

SEHK:3608 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 7.5%
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:3608
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))
= 0.716 (1 + (1- 25%) (2.77%))
0.819
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.819 * 6.65%)
7.45%

Discounted Cash Flow Calculation for SEHK:3608 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Yongsheng Advanced Materials 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:3608 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 7.45%)
2019 0.96 Est @ -80.09% 0.89
2020 0.43 Est @ -55.46% 0.37
2021 0.26 Est @ -38.22% 0.21
2022 0.19 Est @ -26.16% 0.15
2023 0.16 Est @ -17.71% 0.11
2024 0.14 Est @ -11.79% 0.09
2025 0.13 Est @ -7.66% 0.08
2026 0.12 Est @ -4.76% 0.07
2027 0.12 Est @ -2.73% 0.06
2028 0.12 Est @ -1.31% 0.06
Present value of next 10 years cash flows CN¥2.09
SEHK:3608 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥0.12 × (1 + 2%) ÷ (7.45% – 2%)
CN¥2.23
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥2.23 ÷ (1 + 7.45%)10
CN¥1.09
SEHK:3608 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥2.09 + CN¥1.09
CN¥3.18
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥3.18 / 749.17
CN¥0
SEHK:3608 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:3608)
1.138
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0 x 1.138
HK$0
Value per share (HKD) From above. HK$0.00
Current discount Discount to share price of HK$2.07
= -1 x (HK$2.07 - HK$0.00) / HK$0.00
-42808.3%

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

  • The current share price of Yongsheng Advanced Materials 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 Yongsheng Advanced Materials's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Yongsheng Advanced Materials's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:3608 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.20
SEHK:3608 Share Price ** SEHK (2019-05-24) in HKD HK$2.07
SEHK:3608 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥1.82
Hong Kong Luxury Industry PE Ratio Median Figure of 77 Publicly-Listed Luxury Companies 9.55x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 10.99x

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

** Primary Listing of Yongsheng Advanced Materials.

SEHK:3608 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3608 Share Price ÷ EPS (both in CNY)

= 1.82 ÷ 0.20

8.93x

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

  • Yongsheng Advanced Materials is good value based on earnings compared to the HK Luxury industry average.
  • Yongsheng Advanced Materials is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Yongsheng Advanced Materials's expected growth come at a high price?
Raw Data
SEHK:3608 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
1.3%per year
Hong Kong Luxury Industry PEG Ratio Median Figure of 23 Publicly-Listed Luxury Companies 0.87x
Hong Kong Market PEG Ratio Median Figure of 462 Publicly-Listed Companies 0.77x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Yongsheng Advanced Materials, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Yongsheng Advanced Materials's assets?
Raw Data
SEHK:3608 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥1.41
SEHK:3608 Share Price * SEHK (2019-05-24) in HKD HK$2.07
SEHK:3608 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥1.82
Hong Kong Luxury Industry PB Ratio Median Figure of 122 Publicly-Listed Luxury Companies 1.02x
Hong Kong Market PB Ratio Median Figure of 2,157 Publicly-Listed Companies 0.94x
SEHK:3608 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3608 Share Price ÷ Book Value per Share (both in CNY)

= 1.82 ÷ 1.41

1.29x

* Primary Listing of Yongsheng Advanced Materials.

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

  • Yongsheng Advanced Materials is overvalued based on assets compared to the HK Luxury industry average.
X
Value checks
We assess Yongsheng Advanced Materials'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. Yongsheng Advanced Materials has a total score of 2/6, 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.

3608 Future Performance

 How is Yongsheng Advanced Materials expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Yongsheng Advanced Materials, 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
1.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Yongsheng Advanced Materials expected to grow at an attractive rate?
  • Yongsheng Advanced Materials's earnings growth is positive but not above the low risk savings rate of 2%.
Growth vs Market Checks
  • Yongsheng Advanced Materials's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare Yongsheng Advanced Materials's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:3608 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:3608 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 1.3%
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 11.3%
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:3608 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:3608 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 680 57 81
2018-09-30 673 57 85
2018-06-30 665 57 90
2018-03-31 656 68 91
2017-12-31 648 80 92
2017-09-30 651 140 90
2017-06-30 654 199 88
2017-03-31 617 190 83
2016-12-31 581 182 79
2016-09-30 543 73
2016-06-30 504 23 67
2016-03-31 498 10 61

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Yongsheng Advanced Materials's earnings are expected to grow by 1.3% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Yongsheng Advanced Materials 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:3608 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

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

SEHK:3608 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.20
2018-09-30 0.21
2018-06-30 0.23
2018-03-31 0.23
2017-12-31 0.23
2017-09-30 0.22
2017-06-30 0.22
2017-03-31 0.21
2016-12-31 0.20
2016-09-30 0.18
2016-06-30 0.17
2016-03-31 0.15

*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 Yongsheng Advanced Materials will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Yongsheng Advanced Materials'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.
Yongsheng Advanced Materials has a total score of 0/6, 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.

3608 Past Performance

  How has Yongsheng Advanced Materials 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 Yongsheng Advanced Materials'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.
  • Yongsheng Advanced Materials's year on year earnings growth rate has been positive over the past 5 years.
  • Yongsheng Advanced Materials's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Yongsheng Advanced Materials's 1-year earnings growth is negative, it can't be compared to the HK Luxury industry average.
Earnings and Revenue History
Yongsheng Advanced Materials'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 Yongsheng Advanced Materials Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3608 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 680.18 80.75 74.88
2018-09-30 672.59 85.46 77.80
2018-06-30 665.01 90.16 80.73
2018-03-31 656.41 91.15 77.42
2017-12-31 647.81 92.14 74.12
2017-09-30 651.06 89.88 71.62
2017-06-30 654.30 87.62 69.12
2017-03-31 617.48 83.37 68.96
2016-12-31 580.65 79.13 68.80
2016-09-30 542.50 72.84 69.27
2016-06-30 504.36 66.54 69.75
2016-03-31 497.76 61.21 67.86
2015-12-31 491.17 55.87 65.98
2015-09-30 500.14 54.88 64.88
2015-06-30 509.11 53.90 63.78
2015-03-31 497.73 52.06 57.88
2014-12-31 486.36 50.21 51.97
2014-09-30 681.48 47.63 50.42
2014-06-30 876.59 45.05 48.87
2014-03-31 1,322.01 42.54 53.65
2013-12-31 1,767.42 40.02 58.44
2013-09-30 1,924.06 36.20 53.08
2013-06-30 2,080.70 32.38 47.73
2013-03-31 2,145.77 27.78 46.47
2012-12-31 2,210.85 23.17 45.21

*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.
  • Yongsheng Advanced Materials has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Yongsheng Advanced Materials used its assets more efficiently than the HK Luxury industry average last year based on Return on Assets.
  • Yongsheng Advanced Materials's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Yongsheng Advanced Materials'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.
Yongsheng Advanced Materials has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

3608 Health

 How is Yongsheng Advanced Materials'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 Yongsheng Advanced Materials's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Yongsheng Advanced Materials is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Yongsheng Advanced Materials's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Yongsheng Advanced Materials'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 14.1x 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 Yongsheng Advanced Materials Company Filings, last reported 4 months ago.

SEHK:3608 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 599.91 37.70 220.92
2018-09-30 599.91 37.70 220.92
2018-06-30 573.04 24.00 163.06
2018-03-31 573.04 24.00 163.06
2017-12-31 564.86 15.00 217.42
2017-09-30 564.86 15.00 217.42
2017-06-30 523.76 15.00 210.82
2017-03-31 523.76 15.00 210.82
2016-12-31 497.21 0.00 245.81
2016-09-30 497.21 0.00 245.81
2016-06-30 448.89 0.00 195.20
2016-03-31 448.89 0.00 195.20
2015-12-31 420.09 0.00 170.47
2015-09-30 420.09 0.00 170.47
2015-06-30 384.49 2.00 45.32
2015-03-31 384.49 2.00 45.32
2014-12-31 370.24 2.00 131.77
2014-09-30 370.24 2.00 131.77
2014-06-30 338.51 58.08 88.52
2014-03-31 338.51 58.08 88.52
2013-12-31 317.14 221.57 170.50
2013-09-30 317.14 221.57 170.50
2013-06-30 210.32 235.61 12.65
2013-03-31 210.32 235.61 12.65
2012-12-31 191.33 430.06 76.35
  • Yongsheng Advanced Materials's level of debt (6.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (69.2% vs 6.3% today).
  • Debt is well covered by operating cash flow (152.2%, greater than 20% of total debt).
  • Yongsheng Advanced Materials earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Yongsheng Advanced Materials'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. Yongsheng Advanced Materials 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.

3608 Dividends

 What is Yongsheng Advanced Materials's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.58%
Current annual income from Yongsheng Advanced Materials dividends.
If you bought HK$2,000 of Yongsheng Advanced Materials shares you are expected to receive HK$52 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?
  • Yongsheng Advanced Materials's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.1%).
  • Yongsheng Advanced Materials's dividend is below the markets top 25% of dividend payers in Hong Kong (5.83%).
Upcoming dividend payment

Purchase Yongsheng Advanced Materials 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:3608 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 56 Stocks 3%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 965 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:3608 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-18 0.047 2.604
2018-04-20 0.072 3.549
2017-09-13 0.060 3.955
2017-08-24 0.060 3.813
2017-04-19 0.062 4.038
2017-03-23 0.062 3.937
2016-09-14 0.052 3.441
2016-08-23 0.052 3.953
2016-04-18 0.050 4.153
2016-03-23 0.050 4.103
2015-09-21 0.032 2.512
2015-08-27 0.032 2.738
2015-04-16 0.032 2.272

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

  • Yongsheng Advanced Materials has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Yongsheng Advanced Materials only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Yongsheng Advanced Materials's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.2x 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 Yongsheng Advanced Materials'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 Yongsheng Advanced Materials afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Yongsheng Advanced Materials has a total score of 2/6, see the detailed checks below.


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

3608 Management

 What is the CEO of Yongsheng Advanced Materials'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
Jidong Zhao
COMPENSATION CN¥3,686,000
AGE 54
TENURE AS CEO 5.5 years
CEO Bio

Mr. Jidong Zhao has been the Chief Executive Officer of Yongsheng Advanced Materials Company Limited since November 7, 2013 and as its Executive Director since November 7, 2013. Mr. Zhao has been Chief Executive Officer of Yongsheng Group since June 2010 and is responsible for general management and overall operations of Yongsheng Group. Mr. Zhao has more than 25 years of experience in textile industry. From July 1985 to October 2006, Mr. Zhao assumed various positions in Yangzhou Cloth Factory including as Factory Director. From November 2006 to July 2011, he served as Deputy General Manager and Chief Engineer of Shanghai Huayuan Company Limited. He served as the Deputy Director and Director of Yangzhou Textile Research Institute from February 1990 to October 2006. From September 2006 to July 2011, Mr. Zhao served as Director of Shanghai Huayuan Company Limited. Mr. Zhao served as Director of Yongsheng Group. Mr. Zhao was elected a council member of Yangzhou City Textile Construction Association in June 1991. Mr. Zhao also obtained a number of awards throughout his career including the 3rd prize of Yangzhou Science and Technology Advancement Awards and the 1st prize of Yangzhou Science and Technology Advancement Awards awarded by Yangzhou Science and Technology Advancement Awards Judging Committee in December 1987 and 1998 respectively, the National Textile Labour Working Role Model awarded by China Textile Industrial Bureau in December 1994, the 3rd prize of Jiangsu Province Science and Technology Advancement Awards twice respectively on his projects of High Stimulation Twisted Peach Skin flannel and The Ultrafine Composite Fabric Thread and the 2nd prize of Jiangsu Province Science and Technology Advancement Awards on his projects of The Sea-island Ultrafine Composite Synthetic Chamois Leathers by Jiangsu Province Science and Technology Advancement Awards Judging Committee in September 1996, October 1999 and December 2001 respectively. He was awarded by Yangzhou City with Yangzhou City Technology Contributor in May 2000, the Central Enterprise Labour Working Role Model awarded jointly by the National Ministry of Personnel and State-owned Assets Supervision and Administration Commission of the State Council in September 2004, the 2nd Prize of Sang Ma Textile Technology by The Sang Ma Trust Fund in October 2002 and as one of the Candidate of the First Batch National Engineering Talents of the National New Century Project by The Ministry of Personnel of the PRC in April 2004 and passed its advanced training in July 2005. He was accredited as a Senior Engineer on textile engineering by Jiangsu Province Textile Industry Bureau Job Title Reform Office and professor level senior engineer by Jiangsu Department of Personnel respectively in June 1995 and November 2000. He has completed and passed the Training Course for Senior Management of Listed Companies offered by China Securities Regulatory Commission Shanghai Regulatory Bureau respectively in July 2007 and November 2008. Mr. Zhao was engaged by the Graduate School of Donghua University as out-campus mentor in September 2012. Mr. Zhao has been granted as the government special allowance certificate by the State Council of the PRC in 2000. Mr. Zhou also completed the Senior Training Course for Young Entrepreneur in Financial Control and Capital Operation offered by Tsinghua University in December 2011. Mr. Zhao obtained his bachelor degree major in textile engineering from Wuxi Light Industry Institute (now known as Jiangnan University in July 1985.

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

Average tenure and age of the Yongsheng Advanced Materials management team in years:

8
Average Tenure
44
Average Age
  • The average tenure for the Yongsheng Advanced Materials management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Cheng Li

TITLE
Chairman
COMPENSATION
CN¥2M
AGE
56

Jidong Zhao

TITLE
CEO & Executive Director
COMPENSATION
CN¥4M
AGE
54
TENURE
5.5 yrs

Conghua Li Ch

TITLE
Executive Director
COMPENSATION
CN¥87K
AGE
44

Qinghai Ma

TITLE
Executive Director
COMPENSATION
CN¥1M
AGE
43
TENURE
11.3 yrs

Yingli Zhang

TITLE
Group Head of Finance Department
AGE
44

Bing Xu

TITLE
Group Head of Human Resources and Administration Department
AGE
38
TENURE
10.4 yrs

Teresa Lo

TITLE
Company Secretary
AGE
29
TENURE
1.6 yrs
Board of Directors Tenure

Average tenure and age of the Yongsheng Advanced Materials board of directors in years:

5.5
Average Tenure
54
Average Age
  • The tenure for the Yongsheng Advanced Materials board of directors is about average.
Board of Directors

Cheng Li

TITLE
Chairman
COMPENSATION
CN¥2M
AGE
56
TENURE
5.5 yrs

Jidong Zhao

TITLE
CEO & Executive Director
COMPENSATION
CN¥4M
AGE
54
TENURE
5.5 yrs

Conghua Li Ch

TITLE
Executive Director
COMPENSATION
CN¥87K
AGE
44
TENURE
5.5 yrs

Qinghai Ma

TITLE
Executive Director
COMPENSATION
CN¥1M
AGE
43
TENURE
5.5 yrs

Wai Ling Wong

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥112K
AGE
57
TENURE
5.5 yrs

Shiping Wang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥87K
AGE
58
TENURE
5.5 yrs

Huaping Wang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥87K
AGE
53
TENURE
4.8 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$) Value (HK$)
15. Mar 19 Buy Easy Speed Inc. Company 22. Feb 19 22. Feb 19 80,000,000 HK$2.50 HK$199,999,990
06. Jul 18 Sell Jidong Zhao Individual 03. Jul 18 03. Jul 18 -10,000 HK$3.05 HK$-30,500
29. Jun 18 Sell Jidong Zhao Individual 27. Jun 18 27. Jun 18 -20,000 HK$3.00 HK$-60,000
29. Jun 18 Sell Jidong Zhao Individual 26. Jun 18 26. Jun 18 -1,252,500 HK$2.74 HK$-3,432,604
29. Jun 18 Sell Jidong Zhao Individual 29. Jun 18 29. Jun 18 -40,000 HK$3.00 HK$-120,000
X
Management checks
We assess Yongsheng Advanced Materials'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. Yongsheng Advanced Materials 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.

3608 News

Simply Wall St News

Do Insiders Own Shares In Yongsheng Advanced Materials Company Limited (HKG:3608)?

A look at the shareholders of Yongsheng Advanced Materials Company Limited (HKG:3608) can tell us which group is most powerful. … Yongsheng Advanced Materials is not a large company by global standards. … Insider Ownership Of Yongsheng Advanced Materials While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders.

Simply Wall St -

Is Yongsheng Advanced Materials Company Limited's (HKG:3608) ROE Of 14% Impressive?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Yongsheng Advanced Materials Company Limited (HKG:3608). … Over the last twelve months Yongsheng Advanced Materials has recorded a ROE of 14%. … View our latest analysis for Yongsheng Advanced Materials?

Simply Wall St -

What Kind Of Shareholder Appears On The Yongsheng Advanced Materials Company Limited's (HKG:3608) Shareholder Register?

If you want to know who really controls Yongsheng Advanced Materials Company Limited (HKG:3608), then you'll have to look at the makeup of its share registry. … Yongsheng Advanced Materials is not a large company by global standards. … See our latest analysis for Yongsheng Advanced Materials

Simply Wall St -

Does Yongsheng Advanced Materials Company Limited's (HKG:3608) -12% Earnings Drop Reflect A Longer Term Trend?

Measuring Yongsheng Advanced Materials Company Limited's (HKG:3608) track record of past performance is a valuable exercise for investors. … Did 3608 perform worse than its track record and industry. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 17%, indicating the rate at which 3608 is growing has slowed down

Simply Wall St -

Is Yongsheng Advanced Materials Company Limited (HKG:3608) A Strong Dividend Stock?

Yongsheng Advanced Materials Company Limited (HKG:3608) has recently paid dividends to shareholders, and currently yields 3.5%. … Does Yongsheng Advanced Materials tick all the boxes of a great dividend stock? … Check out our latest analysis for Yongsheng Advanced Materials

Simply Wall St -

Do You Like Yongsheng Advanced Materials Company Limited (HKG:3608) At This P/E Ratio?

We'll show how you can use Yongsheng Advanced Materials Company Limited's (HKG:3608) P/E ratio to inform your assessment of the investment opportunity. … Based on the last twelve months, Yongsheng Advanced Materials's P/E ratio is 9.43. … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS)

Simply Wall St -

Is Yongsheng Advanced Materials Company Limited (HKG:3608) Excessively Paying Its CEO?

Jidong Zhao became the CEO of Yongsheng Advanced Materials Company Limited (HKG:3608) in 2013. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Jidong Zhao's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Are Yongsheng Advanced Materials Company Limited’s (HKG:3608) High Returns Really That Great?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

How Much Of Yongsheng Advanced Materials Company Limited (HKG:3608) Do Insiders Own?

Every investor in Yongsheng Advanced Materials Company Limited (HKG:3608) should be aware of the most powerful shareholder groups. … Yongsheng Advanced Materials is a smaller company with a market capitalization of HK$1.6b, so it may still be flying under the radar of many institutional investors. … See our latest analysis for Yongsheng Advanced Materials

Simply Wall St -

How Many Insiders Sold Yongsheng Advanced Materials Company Limited (HKG:3608) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Yongsheng Advanced Materials Company Limited (HKG:3608). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … The Last 12 Months Of Insider Transactions At Yongsheng Advanced Materials.

Simply Wall St -

3608 Company Info

Description

Yongsheng Advanced Materials Company Limited, an investment holding company, develops and manufactures polyester filament yarns and 3D printing materials in the People’s Republic of China. It operates through three segments: Production, Processing, and Trading. The company is also involved in the dyeing and processing of differentiated polyester filament fabrics; trading of polyester filament yarns; and research and development of high polymer advanced materials. Yongsheng Advanced Materials Company Limited was founded in 1985 and is headquartered in Admiralty, Hong Kong.

Details
Name: Yongsheng Advanced Materials Company Limited
3608
Exchange: SEHK
Founded: 1985
HK$1,550,776,290
749,167,290
Website: http://www.chinaysgroup.com
Address: Yongsheng Advanced Materials Company Limited
Admiralty Centre,
Unit C2, 29th Floor,
Admiralty,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3608 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 27. Nov 2013
Number of employees
Current staff
Staff numbers
579
Yongsheng Advanced Materials employees.
Industry
Textiles
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 12:57
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/04/18
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.