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Bosideng International Holdings

SEHK:3998
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3998
SEHK
HK$20B
Market Cap
  1. Home
  2. HK
  3. Consumer Durables
Company description

Bosideng International Holdings Limited researches, designs, develops, manufactures, markets, and distributes branded down apparel products, original equipment manufacturing (OEM) products, and non-down apparel products. The last earnings update was 90 days ago. More info.


Add to Portfolio Compare Print
  • Bosideng International Holdings has significant price volatility in the past 3 months.
3998 Share Price and Events
7 Day Returns
8.7%
SEHK:3998
2.2%
HK Luxury
1.7%
HK Market
1 Year Returns
154.1%
SEHK:3998
-5.9%
HK Luxury
-9.4%
HK Market
3998 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bosideng International Holdings (3998) 8.7% 27.9% 29.7% 154.1% 193.8% 48%
HK Luxury 2.2% 6.6% 16.6% -5.9% 19.8% 11.4%
HK Market 1.7% 5.9% 13.7% -9.4% 29.8% 22.4%
1 Year Return vs Industry and Market
  • 3998 outperformed the Luxury industry which returned -5.9% over the past year.
  • 3998 outperformed the Market in Hong Kong which returned -9.4% over the past year.
Price Volatility
3998
Industry
5yr Volatility vs Market

3998 Value

 Is Bosideng International Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Bosideng International Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Bosideng International Holdings.

SEHK:3998 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
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:3998
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 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.686 (1 + (1- 25%) (14.16%))
0.839
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.839 * 6.65%)
7.58%

Discounted Cash Flow Calculation for SEHK:3998 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Bosideng International Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:3998 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 7.58%)
2019 2,014.33 Analyst x1 1,872.39
2020 1,128.18 Analyst x1 974.79
2021 1,030.64 Analyst x2 827.76
2022 997.43 Est @ -3.22% 744.64
2023 980.93 Est @ -1.65% 680.72
2024 975.47 Est @ -0.56% 629.22
2025 977.52 Est @ 0.21% 586.12
2026 984.84 Est @ 0.75% 548.89
2027 995.92 Est @ 1.12% 515.96
2028 1,009.75 Est @ 1.39% 486.26
Present value of next 10 years cash flows CN¥7,866.73
SEHK:3998 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥1,009.75 × (1 + 2%) ÷ (7.58% – 2%)
CN¥18,465.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥18,465.62 ÷ (1 + 7.58%)10
CN¥8,892.37
SEHK:3998 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥7,866.73 + CN¥8,892.37
CN¥16,759.10
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥16,759.10 / 10,435.64
CN¥1.61
SEHK:3998 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:3998)
1.17
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥1.61 x 1.17
HK$1.88
Value per share (HKD) From above. HK$1.88
Current discount Discount to share price of HK$1.88
= -1 x (HK$1.88 - HK$1.88) / HK$1.88
-0.1%

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

  • The current share price of Bosideng International Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Bosideng International Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bosideng International Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:3998 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in CNY CN¥0.07
SEHK:3998 Share Price ** SEHK (2019-03-20) in HKD HK$1.88
SEHK:3998 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥1.61
Hong Kong Luxury Industry PE Ratio Median Figure of 80 Publicly-Listed Luxury Companies 10.56x
Hong Kong Market PE Ratio Median Figure of 1,496 Publicly-Listed Companies 11.02x

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

** Primary Listing of Bosideng International Holdings.

SEHK:3998 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3998 Share Price ÷ EPS (both in CNY)

= 1.61 ÷ 0.07

24.56x

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

  • Bosideng International Holdings is overvalued based on earnings compared to the HK Luxury industry average.
  • Bosideng International Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Bosideng International Holdings's expected growth come at a high price?
Raw Data
SEHK:3998 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 24.56x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
27.1%per year
Hong Kong Luxury Industry PEG Ratio Median Figure of 22 Publicly-Listed Luxury Companies 0.75x
Hong Kong Market PEG Ratio Median Figure of 467 Publicly-Listed Companies 0.81x

*Line of best fit is calculated by linear regression .

SEHK:3998 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 24.56x ÷ 27.1%

0.91x

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

  • Bosideng International Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Bosideng International Holdings's assets?
Raw Data
SEHK:3998 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in CNY CN¥0.88
SEHK:3998 Share Price * SEHK (2019-03-20) in HKD HK$1.88
SEHK:3998 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥1.61
Hong Kong Luxury Industry PB Ratio Median Figure of 120 Publicly-Listed Luxury Companies 1.06x
Hong Kong Market PB Ratio Median Figure of 2,138 Publicly-Listed Companies 0.99x
SEHK:3998 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3998 Share Price ÷ Book Value per Share (both in CNY)

= 1.61 ÷ 0.88

1.84x

* Primary Listing of Bosideng International Holdings.

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

  • Bosideng International Holdings is overvalued based on assets compared to the HK Luxury industry average.
X
Value checks
We assess Bosideng International Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)
  5. Bosideng International Holdings 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.

3998 Future Performance

 How is Bosideng International Holdings expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
27.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bosideng International Holdings expected to grow at an attractive rate?
  • Bosideng International Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Bosideng International Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Bosideng International Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:3998 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:3998 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 27.1%
SEHK:3998 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 16.1%
Hong Kong Luxury Industry Earnings Growth Rate Market Cap Weighted Average 16.2%
Hong Kong Luxury Industry Revenue Growth Rate Market Cap Weighted Average 12.1%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.1%

*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:3998 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:3998 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 13,815 1,750 1,364 4
2020-03-31 11,848 1,557 1,056 6
2019-03-31 10,121 1,386 823 6
SEHK:3998 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-09-30 9,366 855 692
2018-06-30 9,123 944 654
2018-03-31 8,881 1,033 615
2017-12-31 8,045 778 512
2017-09-30 7,209 523 409
2017-06-30 7,013 816 401
2017-03-31 6,817 1,109 392
2016-12-31 6,303 1,015 350
2016-09-30 5,790 922 307
2016-06-30 5,789 815 294
2016-03-31 5,787 709 281
2015-12-31 5,897 700 146

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bosideng International Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Bosideng International Holdings's revenue is expected to grow by 16.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:3998 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Bosideng International Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3998 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 0.13 0.14 0.12 3.00
2020-03-31 0.10 0.11 0.08 4.00
2019-03-31 0.08 0.08 0.07 4.00
SEHK:3998 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-09-30 0.07
2018-06-30 0.06
2018-03-31 0.06
2017-12-31 0.05
2017-09-30 0.04
2017-06-30 0.04
2017-03-31 0.04
2016-12-31 0.04
2016-09-30 0.04
2016-06-30 0.04
2016-03-31 0.04
2015-12-31 0.02

*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.
  • Bosideng International Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bosideng International Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Bosideng International Holdings has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

3998 Past Performance

  How has Bosideng International Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Bosideng International Holdings's growth in the last year to its industry (Luxury).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Bosideng International Holdings's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Bosideng International Holdings's 1-year earnings growth exceeds its 5-year average (69.2% vs -7.1%)
  • Bosideng International Holdings's earnings growth has exceeded the HK Luxury industry average in the past year (69.2% vs 3.9%).
Earnings and Revenue History
Bosideng International Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Bosideng International Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3998 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 9,365.83 692.14 3,236.86
2018-06-30 9,123.31 653.81 3,159.27
2018-03-31 8,880.79 615.48 3,081.68
2017-12-31 8,044.94 512.33 2,918.90
2017-09-30 7,209.08 409.17 2,756.12
2017-06-30 7,012.84 400.51 2,658.04
2017-03-31 6,816.60 391.84 2,559.95
2016-12-31 6,303.42 349.63 2,406.50
2016-09-30 5,790.24 307.42 2,253.06
2016-06-30 5,788.78 294.18 2,248.49
2016-03-31 5,787.32 280.94 2,243.91
2015-12-31 5,897.05 145.55 2,302.29
2015-09-30 6,006.78 10.16 2,360.66
2015-06-30 6,149.68 71.18 2,484.38
2015-03-31 6,292.57 132.20 2,608.10
2014-12-31 7,285.38 376.75 2,877.03
2014-09-30 8,278.19 621.29 3,145.97
2014-06-30 8,258.04 658.00 3,178.50
2014-03-31 8,237.89 694.70 3,211.03
2013-12-31 8,645.83 891.55 3,223.75
2013-09-30 9,053.76 1,088.40 3,236.46
2013-06-30 9,189.15 1,083.52 3,198.61
2013-03-31 9,324.54 1,078.65 3,160.75
2012-12-31 9,020.75 1,252.15 2,932.31
2012-09-30 8,716.97 1,425.64 2,703.87
2012-06-30 8,546.51 1,431.14 2,615.53
2012-03-31 8,376.06 1,436.64 2,527.20

*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.
  • Bosideng International Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bosideng International Holdings used its assets less efficiently than the HK Luxury industry average last year based on Return on Assets.
  • Bosideng International Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Bosideng International Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Bosideng International Holdings has a total score of 3/6, 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.

3998 Health

 How is Bosideng International Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Bosideng International Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bosideng International Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bosideng International Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bosideng International Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4.5x 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 Bosideng International Holdings Company Filings, last reported 5 months ago.

SEHK:3998 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 9,440.61 2,388.79 4,347.60
2018-06-30 9,440.61 2,388.79 4,347.60
2018-03-31 9,782.77 2,338.43 6,785.19
2017-12-31 9,782.77 2,338.43 6,785.19
2017-09-30 9,539.28 2,056.37 4,089.81
2017-06-30 9,539.28 2,056.37 4,089.81
2017-03-31 9,355.23 2,984.88 5,885.41
2016-12-31 9,355.23 2,984.88 5,885.41
2016-09-30 7,786.74 4,297.67 4,720.61
2016-06-30 7,786.74 4,297.67 4,720.61
2016-03-31 7,452.31 3,393.92 4,944.03
2015-12-31 7,452.31 3,393.92 4,944.03
2015-09-30 7,359.78 3,491.33 3,423.55
2015-06-30 7,359.78 3,491.33 3,423.55
2015-03-31 7,413.90 3,537.63 5,181.95
2014-12-31 7,413.90 3,537.63 5,181.95
2014-09-30 7,546.81 3,411.93 3,587.46
2014-06-30 7,546.81 3,411.93 3,587.46
2014-03-31 7,377.23 3,259.15 5,050.36
2013-12-31 7,377.23 3,259.15 5,050.36
2013-09-30 7,184.61 2,468.86 3,496.62
2013-06-30 7,184.61 2,468.86 3,496.62
2013-03-31 7,285.67 2,656.09 4,505.18
2012-12-31 7,285.67 2,656.09 4,505.18
2012-09-30 6,872.43 2,620.14 3,539.03
2012-06-30 6,872.43 2,620.14 3,539.03
2012-03-31 7,351.70 1,740.66 4,786.01
  • Bosideng International Holdings's level of debt (25.3%) 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 (34.5% vs 25.3% today).
  • Debt is well covered by operating cash flow (35.8%, greater than 20% of total debt).
  • Bosideng International Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Bosideng International Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Bosideng International Holdings 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.

3998 Dividends

 What is Bosideng International Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.65%
Current annual income from Bosideng International Holdings dividends. Estimated to be 4.58% next year.
If you bought HK$2,000 of Bosideng International Holdings shares you are expected to receive HK$53 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?
  • Bosideng International Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.96%).
  • Bosideng International Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.3%).
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:3998 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 6 Analyst Estimates (S&P Global) See Below
Hong Kong Luxury Industry Average Dividend Yield Market Cap Weighted Average of 53 Stocks 2.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 922 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

SEHK:3998 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 0.10 3.00
2020-03-31 0.07 5.00
2019-03-31 0.06 5.00
SEHK:3998 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-07-26 0.043 3.966
2017-11-28 0.017 2.626
2017-06-26 0.013 2.280
2016-12-20 0.018 3.135
2016-11-29 0.018 2.873
2016-07-25 0.022 3.604
2016-06-29 0.022 3.932
2015-12-21 0.000 0.000
2015-11-30 0.000 0.000
2015-08-28 0.016 2.758
2015-07-27 0.016 2.632
2015-06-29 0.016 2.385
2014-12-18 0.020 2.439
2014-11-27 0.020 2.209
2014-07-24 0.045 4.670
2014-06-26 0.045 4.548
2013-07-25 0.101 8.811
2013-06-26 0.101 7.886
2012-11-28 0.147 8.210
2012-06-28 0.136 7.563
2011-11-29 0.106 5.950
2011-06-28 0.133 8.103
2010-11-29 0.153 7.280
2010-07-07 0.126 4.967
2009-12-09 0.076 4.894
2009-07-06 0.080 7.069
2009-03-23 0.060 9.320

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of Bosideng International Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Bosideng International Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Bosideng International Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bosideng International Holdings 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.

3998 Management

 What is the CEO of Bosideng International Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dekang Gao
COMPENSATION CN¥4,242,000
AGE 66
TENURE AS CEO 4.2 years
CEO Bio

Mr. Dekang Gao founded Bosideng International Holdings Ltd and has been its Chairman and Chief Executive Officer since September 15, 2007 and January 30, 2015 respectively. Mr. Gao is responsible for the strategic development and overall management of Bosideng International Holdings Ltd. He has over 20 years experience in the down apparel industry. Previously, he served as the Chief Executive Officer of Bosideng International Holdings Ltd from September 15, 2007 to May 2014. He served as the Chairman and General Manager of Changshu Down Product Group Corp. from1992 to ­1993. He also served as the Chairman from 1994 to 1998 and General Manager from June 1994 to June 2007 of Bosideng Corporation and pursuant to the Reorganization, Chairman and Chief Executive Officer of it. He has been the Chairman of Bosideng Corporation since 2004. He has been an Executive Director of Bosideng International Holdings Ltd. since September 15, 2007. He served as Director of Baimao Town Shanjing Clothing Factory from 1980 to ­1983, Director of Baimao Town Down Apparel Factory from1984 to 1992. He has also assumed leadership in various associations, such as the China Garment Association as Vice President since 2004 and the Down Apparel and Related Products Committee of China National Garment Association as First Deputy Director since 2006. He has been awarded numerous prizes and honors. In 1993, he was awarded the title of Special Contributor to the Development of China's Apparel Industry by the former Ministry of Domestic Trade In 1998, he was awarded the title of National Excellent Township Entrepreneur by the Ministry of Agriculture In 2000, he was named as a National Model Worker by the State Council and as a National Model Worker in the textile industry by the State Administration of Textile Industry and was awarded an achievement medal by the China Garment Association for his contributions to the Chinese apparel industry. In December 2002, He was elected as a delegate to the 10th National People's Congress. In 2005, he was awarded the Outstanding Contribution Prize in the Chinese Down Industry from the China Feather and Down Industrial Association and was accredited as a down apparel expert in China In 2006, he was ranked among the 50 figures representing Chinese outstanding brands for 2005. In January 2007, he was named as an Economic Figure of Year 2006 by China Central Television, an Innovation Figure in the Chinese textile industry by China National Textile and Apparel Council and a Figure of Leading Brands for Year 2006 by China Brand Union Association. In June 2007, he was awarded as China's Top Ten Pioneer Entrepreneurs by the "Contemporary Manager'' magazine. He is a senior economist and a senior engineer. He received an EMBA degree (majoring in Business Administration) from Phoenix International University in December 2002 and obtained a Master's degree in business management from Victoria University in Switzerland in 2012.

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

Average tenure and age of the Bosideng International Holdings management team in years:

4.2
Average Tenure
45
Average Age
  • The tenure for the Bosideng International Holdings management team is about average.
Management Team

Dekang Gao

TITLE
Founder
COMPENSATION
CN¥4M
AGE
66
TENURE
4.2 yrs

Dong Mei

TITLE
Executive President & Executive Director
COMPENSATION
CN¥3M
AGE
50
TENURE
1.9 yrs

Jinsong Rui

TITLE
Senior VP & Executive Director
COMPENSATION
CN¥4M
AGE
46

Yun Mak

TITLE
Company Secretary
COMPENSATION
CN¥3M
AGE
42
TENURE
10.7 yrs

Qiaolian Huang

TITLE
VP & Executive Director
COMPENSATION
CN¥2M
AGE
53

Xiaodong Gao

TITLE
VP & Executive Director
COMPENSATION
CN¥1M
AGE
42

Gaofeng Zhu

TITLE
Assistant to the President & Group Financial Controller
AGE
43

Shen Guangjian

TITLE
Chief Officer of the IR Dept
AGE
44
Board of Directors Tenure

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

11.5
Average Tenure
53
Average Age
  • The average tenure for the Bosideng International Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Dekang Gao

TITLE
Founder
COMPENSATION
CN¥4M
AGE
66
TENURE
11.5 yrs

Dong Mei

TITLE
Executive President & Executive Director
COMPENSATION
CN¥3M
AGE
50
TENURE
12.7 yrs

Jinsong Rui

TITLE
Senior VP & Executive Director
COMPENSATION
CN¥4M
AGE
46
TENURE
5.8 yrs

Yun Mak

TITLE
Company Secretary
COMPENSATION
CN¥3M
AGE
42
TENURE
5.8 yrs

Qiaolian Huang

TITLE
VP & Executive Director
COMPENSATION
CN¥2M
AGE
53
TENURE
11.8 yrs

Xiaodong Gao

TITLE
VP & Executive Director
COMPENSATION
CN¥1M
AGE
42
TENURE
2 yrs

Yao Wang

TITLE
Independent Non-Executive Director
AGE
59
TENURE
11.5 yrs

Maurice Ngai

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥385K
AGE
56
TENURE
11.5 yrs

Binggen Dong

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥330K
AGE
69
TENURE
11.5 yrs
Who owns this company?
Recent Insider Trading
  • Information is not available.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
21. Feb 19 Sell Yun Mak Individual 20. Feb 19 20. Feb 19 -2,000,000 HK$1.47 HK$-2,940,995
21. Feb 19 Buy Yun Mak Individual 20. Feb 19 20. Feb 19 2,000,000 HK$1.47 HK$2,940,995
X
Management checks
We assess Bosideng International Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Bosideng International Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

3998 News

Simply Wall St News

An Examination Of Bosideng International Holdings Limited (HKG:3998)

Bosideng International Holdings Limited (HKG:3998) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of 3998, it

Simply Wall St -

Is Bosideng International Holdings Limited's (HKG:3998) Growth Strong Enough To Justify Its March Share Price?

Bosideng International Holdings Limited (HKG:3998) is considered a high growth stock. … See our latest analysis for Bosideng International Holdings? … If you are bullish about Bosideng International Holdings's growth potential then you are certainly not alone

Simply Wall St -

What does Bosideng International Holdings Limited's (HKG:3998) Balance Sheet Tell Us About Its Future?

While small-cap stocks, such as Bosideng International Holdings Limited (HKG:3998) with its market cap of HK$15b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is

Simply Wall St -

All You Need To Know About Bosideng International Holdings Limited's (HKG:3998) Financial Health

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Bosideng International Holdings Limited (HKG:3998), with a market capitalization of HK$16b, rarely draw their attention from the investing community. … Today we will look at 3998’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Check out our latest analysis for Bosideng International Holdings

Simply Wall St -

An Intrinsic Calculation For Bosideng International Holdings Limited (HKG:3998) Shows It's 30.02% Undervalued

Today, I will calculate the stock's intrinsic value. … by taking the expected future cash flows and discounting them to today's value. … Please also note that this article was written in January 2019 so be sure check out the updated calculation by following the link below

Simply Wall St -

Is Bosideng International Holdings Limited (HKG:3998) A Top Dividend Stock?

Historically, Bosideng International Holdings Limited (HKG:3998) has been paying a dividend to shareholders. … Does Bosideng International Holdings tick all the boxes of a great dividend stock? … Check out our latest analysis for Bosideng International Holdings?

Simply Wall St -

Interested In Bosideng International Holdings Limited (HKG:3998)’s Upcoming CN¥0.02 Dividend? You Have 4 Days Left

Have you been keeping an eye on Bosideng International Holdings Limited's (HKG:3998) upcoming dividend of CN¥0.02 per share payable on the 15 January 2019? … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Bosideng International Holdings's latest financial data to analyse its dividend attributes. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:?

Simply Wall St -

Bosideng International Holdings Limited (HKG:3998): Assessing Capital Returns

and want a simplistic look at the return on Bosideng International Holdings Limited (HKG:3998) stock. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Bosideng International Holdings’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Is Bosideng International Holdings Limited's (HKG:3998) 6.5% Worse Than Average?

By way of learning-by-doing, we'll look at ROE to gain a better understanding Bosideng International Holdings Limited (HKG:3998). … Over the last twelve months Bosideng International Holdings has recorded a ROE of 6.5%. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Why Bosideng International Holdings Limited's (HKG:3998) High P/E Ratio Isn't Necessarily A Bad Thing

Bosideng International Holdings has a P/E ratio of 16.62, based on the last twelve months. … How Do I Calculate Bosideng International Holdings's Price To Earnings Ratio … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

3998 Company Info

Description

Bosideng International Holdings Limited researches, designs, develops, manufactures, markets, and distributes branded down apparel products, original equipment manufacturing (OEM) products, and non-down apparel products. The company operates through four segments: Down Apparels, OEM Management, Non-Down Apparels, and Diversified apparels. It engages in the business of sourcing and distributing non-seasonal apparels, including menswear, underwear, and casual wear. The company provides down apparel products primarily under the Bosideng, Snow Flying, and Bengen brands; and non-down apparel products under the JESSIE, BUOU BUOU, KOREANO, KLOVA, and Sameite brands. It also offers network consulting and e-business of down and non-down apparels; and operates as an advertisement agency. The company provides its products through department stores and retail stores. As of March 31, 2018, it operated 4,466 down apparel retail outlets; and 1,423 self-operated outlets in the People’s Republic of China. The company was incorporated in 2006 and is based in Central, Hong Kong. Bosideng International Holdings Limited is a subsidiary of Kong Bo Investment Limited.

Details
Name: Bosideng International Holdings Limited
3998
Exchange: SEHK
Founded: 2006
HK$19,723,360,327
10,435,640,385
Website: http://www.bosideng.com
Address: Bosideng International Holdings Limited
The Center,
Unit 5709,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3998 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 11. Oct 2007
OTCPK BSDG.F Ordinary Shares Pink Sheets LLC US USD 11. Oct 2007
DB 3BD Ordinary Shares Deutsche Boerse AG DE EUR 11. Oct 2007
SHSC 3998 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 11. Oct 2007
SZSC 3998 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 11. Oct 2007
OTCPK BSDG.Y ADR Pink Sheets LLC US USD 01. May 2009
Number of employees
Current staff
Staff numbers
6,017
Bosideng International Holdings employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 12:46
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/03/04
Last earnings filing: 2018/12/20
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.