SEHK:417

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Tse Sui Luen Jewellery (International)

Executive Summary

Tse Sui Luen Jewellery (International) Limited, an investment holding company, manufactures, sells, and markets jewelry products in Hong Kong, Macau, Mainland China, Malaysia, and other countries.


Snowflake Analysis

Undervalued with mediocre balance sheet.

Share Price & News

How has Tse Sui Luen Jewellery (International)'s share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 417's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-3.5%

417

8.2%

HK Luxury

4.1%

HK Market


1 Year Return

-48.8%

417

8.2%

HK Luxury

-5.2%

HK Market

Return vs Industry: 417 underperformed the Hong Kong Luxury industry which returned 5.7% over the past year.

Return vs Market: 417 underperformed the Hong Kong Market which returned -6.5% over the past year.


Shareholder returns

417IndustryMarket
7 Day-3.5%8.2%4.1%
30 Day-1.2%12.1%3.5%
90 Day-26.8%-2.1%-5.3%
1 Year-47.0%-48.8%10.5%8.2%-2.0%-5.2%
3 Year-63.7%-67.6%31.5%19.4%-0.4%-10.6%
5 Year-64.2%-69.2%27.7%8.2%-9.0%-23.3%

Price Volatility Vs. Market

How volatile is Tse Sui Luen Jewellery (International)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Tse Sui Luen Jewellery (International) undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 417 (HK$0.82) is trading below our estimate of fair value (HK$8.54)

Significantly Below Fair Value: 417 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 417 is good value based on its PE Ratio (6.5x) compared to the Luxury industry average (7x).

PE vs Market: 417 is good value based on its PE Ratio (6.5x) compared to the Hong Kong market (9.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 417's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 417 is good value based on its PB Ratio (0.2x) compared to the HK Luxury industry average (0.7x).


Next Steps

Future Growth

How is Tse Sui Luen Jewellery (International) forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

21.1%

Forecasted Consumer Durables industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tse Sui Luen Jewellery (International) has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Tse Sui Luen Jewellery (International) performed over the past 5 years?

2.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 417 has high quality earnings.

Growing Profit Margin: 417's current net profit margins (0.8%) are lower than last year (1.3%).


Past Earnings Growth Analysis

Earnings Trend: 417's earnings have grown by 2.7% per year over the past 5 years.

Accelerating Growth: 417's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 417 had negative earnings growth (-37%) over the past year, making it difficult to compare to the Luxury industry average (3%).


Return on Equity

High ROE: 417's Return on Equity (3.1%) is considered low.


Next Steps

Financial Health

How is Tse Sui Luen Jewellery (International)'s financial position?


Financial Position Analysis

Short Term Liabilities: 417's short term assets (HK$2.3B) exceed its short term liabilities (HK$1.1B).

Long Term Liabilities: 417's short term assets (HK$2.3B) exceed its long term liabilities (HK$815.3M).


Debt to Equity History and Analysis

Debt Level: 417's debt to equity ratio (89.5%) is considered high.

Reducing Debt: 417's debt to equity ratio has increased from 80.5% to 89.5% over the past 5 years.

Debt Coverage: 417's debt is well covered by operating cash flow (28.8%).

Interest Coverage: 417's interest payments on its debt are not well covered by EBIT (2.9x coverage).


Balance Sheet


Next Steps

Dividend

What is Tse Sui Luen Jewellery (International)'s current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 417's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 417's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 417's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 417's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 417 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 417's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.5yrs

Average management tenure


CEO

Annie Yau (49yo)

10.25yrs

Tenure

HK$6,424,000

Compensation

Ms. On Yee Yau, also known as Annie, has been the Chief Executive Officer at TSE Sui Luen Jewellery International Ltd. since March 1st, 2010. Ms. Yau served as Senior Information Technology Manager and Sen ...


CEO Compensation Analysis

Compensation vs Market: Annie's total compensation ($USD828.81K) is above average for companies of similar size in the Hong Kong market ($USD226.43K).

Compensation vs Earnings: Annie's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
On Yee Yau
Chairman & CEO10.25yrsHK$6.42m0.052% HK$107.0k
Yi Kum Ng
Deputy Chairman4.5yrsHK$5.41mno data
Tse Sui Luen
no datano datano data
Man Tin Jim
Director of Group Marketing and International Businessno datano datano data
Tat Fung Tse
Deputy Chief Executive Officer8.75yrsHK$516.00k72.52% HK$148.2m
Yuk Wong
Managing Director of The People's Republic of Chinano datano datano data
Suk Fung
Financial Controller of Group Financeno datano datano data
Tse Kin Cheung
Export Operations Controller15.25yrsHK$212.00kno data
Wai Shun Chung
Financial Controller of China Financeno datano datano data
Kai Wong
Director of Sales & Operations - China Retailno datano datano data

9.5yrs

Average Tenure

51yo

Average Age

Experienced Management: 417's management team is seasoned and experienced (9.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
On Yee Yau
Chairman & CEO10.25yrsHK$6.42m0.052% HK$107.0k
Yi Kum Ng
Deputy Chairman4.5yrsHK$5.41mno data
Yue Kwong Chan
Independent Non-Executive Director9.83yrsHK$180.00kno data
Chi Yun Chui
Independent Non-Executive Director21.17yrsHK$180.00kno data
Erwin Steve Huang
Deputy Chairmanno dataHK$180.00kno data
Chee Wai Chow
Independent Non-Executive Director7.25yrsHK$180.00kno data

9.8yrs

Average Tenure

57.5yo

Average Age

Experienced Board: 417's board of directors are considered experienced (9.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Tse Sui Luen Jewellery (International) Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tse Sui Luen Jewellery (International) Limited
  • Ticker: 417
  • Exchange: SEHK
  • Founded: 1971
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: HK$204.329m
  • Shares outstanding: 249.18m
  • Website: https://www.tslj.com

Number of Employees


Location

  • Tse Sui Luen Jewellery (International) Limited
  • Summit Building
  • Ground Floor
  • Hunghom
  • Kowloon
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
417SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDSep 1992

Biography

Tse Sui Luen Jewellery (International) Limited, an investment holding company, manufactures, sells, and markets jewelry products in Hong Kong, Macau, Mainland China, Malaysia, and other countries. The company operates through Retail Business, Wholesale Business, and Other Businesses segments. It is also involved in the retail and wholesale of jewelry; property holding and investment businesses; and management and administrative services, as well as logistic and supply chain management activities. The company was founded in 1971 and is based in Hunghom, Hong Kong. Tse Sui Luen Jewellery (International) Limited is a subsidiary of Partner Logistics Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/04 12:37
End of Day Share Price2020/06/03 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.