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Tristate Holdings

SEHK:458
Snowflake Description

Adequate balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
458
SEHK
HK$429M
Market Cap
  1. Home
  2. HK
  3. Consumer Durables
Company description

Tristate Holdings Limited, an investment holding company, designs and manufactures garments in the People's Republic of China, Canada, the United States, and the United Kingdom. The last earnings update was 32 days ago. More info.


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458 Share Price and Events
7 Day Returns
-3.1%
SEHK:458
-4.1%
HK Luxury
-2.4%
HK Market
1 Year Returns
-10.7%
SEHK:458
-14.5%
HK Luxury
-16.5%
HK Market
458 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tristate Holdings (458) -3.1% -4.2% -2.5% -10.7% -28.2% -49%
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
  • 458 outperformed the Luxury industry which returned -14.5% over the past year.
  • 458 outperformed the Market in Hong Kong which returned -16.5% over the past year.
Price Volatility
458
Industry
5yr Volatility vs Market

Value

 Is Tristate 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
  • It is not possible to calculate the future cash flow value for Tristate Holdings. This is due to cash flow or dividend data being unavailable. The share price is HK$1.58.
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 Tristate Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tristate Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:458 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$-0.30
SEHK:458 Share Price ** SEHK (2019-05-24) in HKD HK$1.58
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 Tristate Holdings.

SEHK:458 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:458 Share Price ÷ EPS (both in HKD)

= 1.58 ÷ -0.30

-5.33x

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

  • Tristate Holdings is loss making, we can't compare its value to the HK Luxury industry average.
  • Tristate Holdings is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does Tristate Holdings's expected growth come at a high price?
Raw Data
SEHK:458 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -5.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
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 Tristate Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tristate Holdings's assets?
Raw Data
SEHK:458 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$4.34
SEHK:458 Share Price * SEHK (2019-05-24) in HKD HK$1.58
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:458 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:458 Share Price ÷ Book Value per Share (both in HKD)

= 1.58 ÷ 4.34

0.36x

* Primary Listing of Tristate Holdings.

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

  • Tristate Holdings is good value based on assets compared to the HK Luxury industry average.
X
Value checks
We assess Tristate 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. Tristate 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.

Future Performance

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

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 Tristate Holdings 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
15.8%
Expected Luxury industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tristate Holdings expected to grow at an attractive rate?
  • Unable to compare Tristate Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Tristate Holdings's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare Tristate Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:458 Future Growth Rates Data Sources
Data Point Source Value (per year)
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:458 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 HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:458 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 2,578 -114 -80
2018-09-30 2,371 -128 -77
2018-06-30 2,164 -142 -74
2018-03-31 2,043 -22 -69
2017-12-31 1,923 99 -64
2017-09-30 2,008 145 -59
2017-06-30 2,092 191 -55
2017-03-31 2,173 112 -69
2016-12-31 2,254 33 -84
2016-09-30 2,230 93 -73
2016-06-30 2,207 153 -62
2016-03-31 2,361 144 -54

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Tristate Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if Tristate Holdings 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:458 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 Tristate Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:458 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 -0.30
2018-09-30 -0.28
2018-06-30 -0.27
2018-03-31 -0.25
2017-12-31 -0.24
2017-09-30 -0.22
2017-06-30 -0.20
2017-03-31 -0.26
2016-12-31 -0.31
2016-09-30 -0.27
2016-06-30 -0.23
2016-03-31 -0.20

*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 Tristate Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Tristate Holdings's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Tristate Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Consumer Durables companies here
  3. Tristate Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Tristate 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.
Tristate Holdings 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.

Past Performance

  How has Tristate 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 Tristate 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.
  • Tristate Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Tristate Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Tristate Holdings's 1-year growth to the HK Luxury industry average as it is not currently profitable.
Earnings and Revenue History
Tristate 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 Tristate Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:458 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,578.32 -80.46 680.06
2018-09-30 2,371.13 -77.10 630.28
2018-06-30 2,163.94 -73.74 580.51
2018-03-31 2,043.32 -68.96 550.33
2017-12-31 1,922.71 -64.18 520.16
2017-09-30 2,007.52 -59.49 554.45
2017-06-30 2,092.33 -54.79 588.75
2017-03-31 2,172.99 -69.44 634.64
2016-12-31 2,253.66 -84.09 680.53
2016-09-30 2,230.44 -73.26 684.58
2016-06-30 2,207.23 -62.42 688.63
2016-03-31 2,361.48 -54.05 728.63
2015-12-31 2,515.74 -45.67 768.63
2015-09-30 2,986.45 47.37 860.01
2015-06-30 3,457.16 140.42 951.40
2015-03-31 3,518.59 144.35 977.82
2014-12-31 3,580.03 148.28 1,004.24
2014-09-30 3,526.98 77.21 1,010.98
2014-06-30 3,473.92 6.14 1,017.73
2014-03-31 3,536.91 24.79 1,008.97
2013-12-31 3,599.90 43.44 1,000.21
2013-09-30 3,496.09 31.08 967.86
2013-06-30 3,392.28 18.73 935.52
2013-03-31 3,390.08 63.89 902.32
2012-12-31 3,387.88 109.05 869.12
2012-09-30 3,321.04 152.91 826.20
2012-06-30 3,254.20 196.77 783.18

*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.
  • It is difficult to establish if Tristate Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Tristate Holdings has efficiently used its assets last year compared to the HK Luxury industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Tristate Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Tristate 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.
Tristate Holdings has a total score of 0/6, 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.

Health

 How is Tristate 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 Tristate Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tristate Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tristate Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tristate 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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 14.9x 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 Tristate Holdings Company Filings, last reported 4 months ago.

SEHK:458 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,177.34 73.79 321.89
2018-09-30 1,177.34 73.79 321.89
2018-06-30 1,195.92 180.05 245.46
2018-03-31 1,195.92 180.05 245.46
2017-12-31 1,293.09 98.87 512.99
2017-09-30 1,293.09 98.87 512.99
2017-06-30 1,229.19 128.39 361.70
2017-03-31 1,229.19 128.39 361.70
2016-12-31 1,235.97 198.91 523.24
2016-09-30 1,235.97 198.91 523.24
2016-06-30 1,274.47 311.30 383.13
2016-03-31 1,274.47 311.30 383.13
2015-12-31 1,381.85 325.29 666.13
2015-09-30 1,381.85 325.29 666.13
2015-06-30 1,464.25 508.93 664.53
2015-03-31 1,464.25 508.93 664.53
2014-12-31 1,552.97 443.80 723.44
2014-09-30 1,552.97 443.80 723.44
2014-06-30 1,332.18 684.62 546.81
2014-03-31 1,332.18 684.62 546.81
2013-12-31 1,456.78 403.75 692.93
2013-09-30 1,456.78 403.75 692.93
2013-06-30 1,351.07 605.92 575.02
2013-03-31 1,351.07 605.92 575.02
2012-12-31 1,400.88 293.59 561.29
2012-09-30 1,402.96 293.59 561.29
2012-06-30 1,345.08 402.91 393.59
  • Tristate Holdings'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 (28% vs 6.3% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Tristate Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Tristate 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. Tristate Holdings has a total score of 4/6, 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.

Dividends

 What is Tristate 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
0%
Current annual income from Tristate Holdings dividends.
If you bought HK$2,000 of Tristate Holdings shares you are expected to receive HK$0 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?
  • Unable to evaluate Tristate Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Tristate Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:458 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:458 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2016-09-19 0.000 0.000
2016-08-29 0.000 0.000
2016-04-25 0.000 0.000
2016-03-21 0.000 0.000
2015-04-28 0.060 2.176
2015-03-30 0.060 2.227
2014-04-28 0.060 2.023
2014-03-31 0.060 1.802
2013-09-18 0.000 0.000
2013-08-27 0.000 0.000
2013-04-19 0.160 4.426
2012-08-27 0.290 7.546
2012-03-26 0.370 7.683
2011-08-29 0.390 9.359
2011-03-28 0.300 7.074
2010-08-30 0.120 4.842
2010-03-29 0.100 5.256
2009-08-31 0.000 0.000

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

  • Unable to perform a dividend volatility check as Tristate Holdings has not reported any payouts.
  • Unable to verify if Tristate Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Tristate Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Tristate Holdings has not reported any payouts.
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 Tristate Holdings'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 Tristate Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tristate Holdings has a total score of 0/6, see the detailed checks below.


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

Management

 What is the CEO of Tristate 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
Peter Wang
COMPENSATION HK$5,394,000
AGE 64
TENURE AS CEO 20.3 years
CEO Bio

Mr. Wang Kin Chung, also known as Peter, BSc, MBA, serves as Managing Director of Hua Thai Manufacturing Public Company Limited. Mr. Wang has been Chief Executive Officer of Tristate Holdings Ltd since 1999. He serves as an Head of overall strategic planning and business development of Tristate Holdings Ltd. He is responsible for the overall strategic planning and business development at Tristate Holdings Ltd. He has 20 years of experience in the garment industry. Mr. Wang has been the Chairman at Tristate Holdings Ltd since 2001. He serves as Chairman of the Hong Kong Garment Manufacturers Association Ltd. He has been a Non-Executive Director of Johnson Electric Holdings Limited since 1982. He serves as an Executive Director of Tristate Holdings Ltd. He serves as the Chairman of Hua Thai Manufacturing Public Company Limited. He serves as Director of the Textile Council of Hong Kong Limited. Mr. Wang serves as Member of Hong Kong Trade Development Council of Garment Advisory Committee and The Court of The Hong Kong Polytechnic University. He serves as Representative Member of the Textile Advisory Board appointed by the Government and the Hong Kong General Chamber of Commerce. He won the Young Industrialist Awards of Hong Kong in 1998. Mr. Wang holds a B.Sc Degree in Industrial Engineering from Purdue University in Indiana, U.S.A. and an MBA Degree from Boston University, U.S.A.

CEO Compensation
  • Peter's compensation has increased whilst company is loss making.
  • Peter's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

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

2.7
Average Tenure
44.5
Average Age
  • The tenure for the Tristate Holdings management team is about average.
Management Team

Peter Wang

TITLE
Chairman
COMPENSATION
HK$5M
AGE
64
TENURE
20.3 yrs

Vivian Chan

TITLE
Chief Financial Officer
AGE
43
TENURE
0.3 yrs

Jane Ma

TITLE
Managing Director of Contract Manufacturing Business Unit
AGE
45

Phyllis Zhang

TITLE
Managing Director of the third party fulfillment business
AGE
44

Jack Zijian

TITLE
President of Contract Manufacturing
AGE
51

Sophie Lin

TITLE
President of Cissonne & C.P. Company
AGE
42

Alfred To

TITLE
Company Secretary
TENURE
2.7 yrs

Osti Lorenzo

TITLE
President of C.P. Company
AGE
44

Donrad Duncan

TITLE
Principal Designer
AGE
55
Board of Directors Tenure

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

18.3
Average Tenure
67
Average Age
  • The average tenure for the Tristate Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Peter Wang

TITLE
Chairman
COMPENSATION
HK$5M
AGE
64
TENURE
18.3 yrs

Jack Tang

TITLE
Chairman Emeritus
COMPENSATION
HK$5M

Yik-Chun Wang Koo

TITLE
Honorary Chairlady
COMPENSATION
HK$1M
AGE
101
TENURE
17.3 yrs

James Christopher Kralik

TITLE
Independent Non-Executive Director
COMPENSATION
HK$206K
AGE
53
TENURE
17.1 yrs

Anthony Lo

TITLE
Independent Non-Executive Director
COMPENSATION
HK$268K
AGE
69
TENURE
20.9 yrs

Winnie Mak Wang

TITLE
Non-Executive Director
COMPENSATION
HK$165K
AGE
72
TENURE
20.1 yrs

Patrick Wang

TITLE
Non-Executive Director
COMPENSATION
HK$112K
AGE
67
TENURE
20.1 yrs

Peter Tan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$104K
AGE
63
TENURE
8.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Tristate Holdings insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
08. May 19 Buy Kin-Chung Wang Individual 07. May 19 07. May 19 60,000 HK$1.65 HK$99,000
X
Management checks
We assess Tristate 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. Tristate 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.

News

Simply Wall St News

Read This Before Selling Tristate Holdings Limited (HKG:458) Shares

Does Tristate Holdings Boast High Insider Ownership? … Tristate Holdings insiders own 68% of the company, currently worth about HK$303m based on the recent share price. … When combined with notable insider ownership, these factors suggest Tristate Holdings insiders are well aligned, and quite possibly think the share price is too low.

Simply Wall St -

Volatility 101: Should Tristate Holdings (HKG:458) Shares Have Dropped 49%?

Tristate Holdings isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. … Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth. … Over half a decade Tristate Holdings reduced its trailing twelve month revenue by 13% for each year.

Simply Wall St -

Do Institutions Own Tristate Holdings Limited (HKG:458) Shares?

The big shareholder groups in Tristate Holdings Limited (HKG:458) have power over the company. … Tristate Holdings is not a large company by global standards. … See our latest analysis for Tristate Holdings

Simply Wall St -

Is Tristate Holdings Limited's (HKG:458) CEO Pay Fair?

Peter Wang became the CEO of Tristate Holdings Limited (HKG:458) in 1999. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Peter Wang's Compensation Compare With Similar Sized Companies?

Simply Wall St -

What Kind Of Shareholder Appears On The Tristate Holdings Limited's (HKG:458) Shareholder Register?

If you want to know who really controls Tristate Holdings Limited (HKG:458), then you'll have to look at the makeup of its share registry. … With a market capitalization of HK$448m, Tristate Holdings is a small cap stock, so it might not be well known by many institutional investors. … See our latest analysis for Tristate Holdings

Simply Wall St -

Is Tristate Holdings Limited's (HKG:458) CEO Pay Fair?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Peter Wang's Compensation Compare With Similar Sized Companies. … It would therefore appear that Tristate Holdings Limited pays Peter Wang more than the median CEO remuneration at companies of a similar size, in the same market

Simply Wall St -

Who Owns Most Of Tristate Holdings Limited (HKG:458)?

In this article, I'm going to take a look at Tristate Holdings Limited’s (HKG:458) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Although this is an important factor for long-term investors, many investors can also be impacted by institutional presence and their high-volume trading. … See our latest analysis for Tristate Holdings

Simply Wall St -

Company Info

Description

Tristate Holdings Limited, an investment holding company, designs and manufactures garments in the People's Republic of China, Canada, the United States, and the United Kingdom. The company offers sportswear, military uniforms, authentic outdoor products, womenswear, and work wear under the C.P. Company, EFM, Cissonne, and HASKI brand names. It also engages in the branded product distribution, retail, and trading. In addition, the company offers sales liaison, general administrative and supporting, factory facilities leasing, nominee and secretarial, technical, and design and customer support services. Further, it is involved in trademark holding and licensing, as well as general trading and marketing, and product design and development activities. The company was founded in 1937 and is headquartered in Kwai Chung, Hong Kong. Tristate Holdings Limited is a subsidiary of Silver Tree Holdings Inc.

Details
Name: Tristate Holdings Limited
458
Exchange: SEHK
Founded: 1937
HK$429,139,459
271,607,253
Website: http://www.tristateww.com
Address: Tristate Holdings Limited
66-72 Lei Muk Road,
5th Floor,
Kwai Chung,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 458 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
Number of employees
Current staff
Staff numbers
9,860
Tristate Holdings employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 12:35
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/04/24
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.