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Speed Apparel Holding

SEHK:8183
Snowflake Description

Solid track record and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
8183
SEHK
HK$245M
Market Cap
  1. Home
  2. HK
  3. Consumer Durables
Company description

Speed Apparel Holding Limited operates as an apparel supply chain management services provider primarily in Japan. The last earnings update was 38 days ago. More info.


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8183 Share Price and Events
7 Day Returns
-1%
SEHK:8183
0.9%
HK Luxury
0.5%
HK Market
1 Year Returns
3.2%
SEHK:8183
-2%
HK Luxury
-6.7%
HK Market
8183 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Speed Apparel Holding (8183) -1% 3.2% -1% 3.2% - -
HK Luxury 0.9% 7% 17.9% -2% 23.8% 9.9%
HK Market 0.5% 2.3% 13.6% -6.7% 30.3% 18.8%
1 Year Return vs Industry and Market
  • 8183 outperformed the Luxury industry which returned -2% over the past year.
  • 8183 outperformed the Market in Hong Kong which returned -6.7% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

8183 Value

 Is Speed Apparel Holding 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 Speed Apparel Holding 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 Speed Apparel Holding.

SEHK:8183 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:8183
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 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.728 (1 + (1- 25%) (2.74%))
0.828
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.828 * 6.65%)
7.51%

Discounted Cash Flow Calculation for SEHK:8183 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Speed Apparel Holding 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:8183 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 7.51%)
2019 26.71 Est @ 9.01% 24.84
2020 28.55 Est @ 6.91% 24.70
2021 30.10 Est @ 5.44% 24.23
2022 31.43 Est @ 4.41% 23.53
2023 32.59 Est @ 3.69% 22.69
2024 33.63 Est @ 3.18% 21.78
2025 34.58 Est @ 2.83% 20.83
2026 35.47 Est @ 2.58% 19.87
2027 36.32 Est @ 2.41% 18.93
2028 37.15 Est @ 2.29% 18.01
Present value of next 10 years cash flows HK$219.40
SEHK:8183 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$37.15 × (1 + 2%) ÷ (7.51% – 2%)
HK$688.21
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$688.21 ÷ (1 + 7.51%)10
HK$333.62
SEHK:8183 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$219.40 + HK$333.62
HK$553.03
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$553.03 / 500.00
HK$1.11
SEHK:8183 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$1.11
Current discount Discount to share price of HK$0.49
= -1 x (HK$0.49 - HK$1.11) / HK$1.11
55.7%

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

Current Discount
Amount off the current price Speed Apparel Holding is available for.
Intrinsic value
>50%
Share price is HK$0.49 vs Future cash flow value of HK$1.11
Current Discount Checks
For Speed Apparel Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Speed Apparel Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Speed Apparel Holding's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Speed Apparel Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Speed Apparel Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:8183 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.07
SEHK:8183 Share Price ** SEHK (2019-03-22) in HKD HK$0.49
Hong Kong Luxury Industry PE Ratio Median Figure of 81 Publicly-Listed Luxury Companies 11.16x
Hong Kong Market PE Ratio Median Figure of 1,498 Publicly-Listed Companies 10.75x

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

** Primary Listing of Speed Apparel Holding.

SEHK:8183 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:8183 Share Price ÷ EPS (both in HKD)

= 0.49 ÷ 0.07

7.43x

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

  • Speed Apparel Holding is good value based on earnings compared to the HK Luxury industry average.
  • Speed Apparel Holding is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Speed Apparel Holding's expected growth come at a high price?
Raw Data
SEHK:8183 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-19.2%per year
Hong Kong Luxury Industry PEG Ratio Median Figure of 22 Publicly-Listed Luxury Companies 0.86x
Hong Kong Market PEG Ratio Median Figure of 471 Publicly-Listed Companies 0.81x

*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 Speed Apparel Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Speed Apparel Holding's assets?
Raw Data
SEHK:8183 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$0.19
SEHK:8183 Share Price * SEHK (2019-03-22) in HKD HK$0.49
Hong Kong Luxury Industry PB Ratio Median Figure of 120 Publicly-Listed Luxury Companies 1.08x
Hong Kong Market PB Ratio Median Figure of 2,139 Publicly-Listed Companies 0.99x
SEHK:8183 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:8183 Share Price ÷ Book Value per Share (both in HKD)

= 0.49 ÷ 0.19

2.56x

* Primary Listing of Speed Apparel Holding.

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

  • Speed Apparel Holding is overvalued based on assets compared to the HK Luxury industry average.
X
Value checks
We assess Speed Apparel Holding'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. Speed Apparel Holding has a total score of 4/6, 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.

8183 Future Performance

 How is Speed Apparel Holding expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Speed Apparel Holding, 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
-19.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Speed Apparel Holding expected to grow at an attractive rate?
  • Speed Apparel Holding's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2%.
Growth vs Market Checks
  • Speed Apparel Holding's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • Unable to compare Speed Apparel Holding's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:8183 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:8183 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -19.2%
Hong Kong Luxury Industry Earnings Growth Rate Market Cap Weighted Average 15.6%
Hong Kong Luxury Industry Revenue Growth Rate Market Cap Weighted Average 12%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 9.8%

*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:8183 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 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:8183 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 403 33
2018-09-30 391 -7 25
2018-06-30 369 15
2018-03-31 390 24 14
2017-12-31 386 8
2017-09-30 423 27 8
2017-06-30 411 6
2017-03-31 430 17 6
2016-03-31 435 9 12

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Speed Apparel Holding's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Speed Apparel Holding 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:8183 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Speed Apparel Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:8183 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.07
2018-09-30 0.05
2018-06-30 0.03
2018-03-31 0.03
2017-12-31 0.02
2017-09-30 0.02
2017-06-30 0.02
2017-03-31 0.02
2016-03-31 0.03

*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 Speed Apparel Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Speed Apparel Holding'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.
Speed Apparel Holding 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.

8183 Past Performance

  How has Speed Apparel Holding 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 Speed Apparel Holding'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.
  • Speed Apparel Holding has delivered over 20% year on year earnings growth in the past 5 years.
  • Speed Apparel Holding's 1-year earnings growth exceeds its 5-year average (314.2% vs 29.8%)
  • Speed Apparel Holding's earnings growth has exceeded the HK Luxury industry average in the past year (314.2% vs 4.3%).
Earnings and Revenue History
Speed Apparel Holding'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 Speed Apparel Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:8183 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 402.77 32.96 46.58
2018-09-30 391.37 24.52 44.66
2018-06-30 369.23 14.60 45.28
2018-03-31 390.42 14.08 46.63
2017-12-31 386.22 7.96 47.41
2017-09-30 423.03 7.76 48.03
2017-06-30 410.59 6.47 46.04
2017-03-31 430.13 6.09 45.51
2016-03-31 435.21 12.47 43.10
2015-03-31 397.97 10.53 48.02

*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.
  • Speed Apparel Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Speed Apparel Holding used its assets more efficiently than the HK Luxury industry average last year based on Return on Assets.
  • Speed Apparel Holding's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Speed Apparel Holding'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.
Speed Apparel Holding has a total score of 5/6, 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.

8183 Health

 How is Speed Apparel Holding'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 Speed Apparel Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Speed Apparel Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Speed Apparel Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Speed Apparel Holding'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 29.4x 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 Speed Apparel Holding Company Filings, last reported 2 months ago.

SEHK:8183 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 95.88 6.71 58.90
2018-09-30 95.88 6.71 58.90
2018-06-30 92.29 0.38 83.66
2018-03-31 92.29 0.38 83.66
2017-12-31
2017-09-30 78.90 0.44 67.23
2017-06-30 25.40 20.83 38.54
2017-03-31 25.40 20.83 38.54
2016-03-31 19.37 18.20 20.84
2015-03-31 37.72 44.80 29.22
  • Speed Apparel Holding's level of debt (7%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Speed Apparel Holding's debt level has increased without past 5-year debt data.
  • Operating cash flow is negative therefore debt is not well covered.
  • Speed Apparel Holding earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Speed Apparel Holding'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. Speed Apparel Holding 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.

8183 Dividends

 What is Speed Apparel Holding'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
3.06%
Current annual income from Speed Apparel Holding dividends.
If you bought HK$2,000 of Speed Apparel Holding shares you are expected to receive HK$61 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?
  • Speed Apparel Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.02%).
  • Speed Apparel Holding's dividend is below the markets top 25% of dividend payers in Hong Kong (5.34%).
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:8183 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 53 Stocks 2.7%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 926 Stocks 3.5%
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:8183 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2018-06-27 0.015 2.984

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

  • It is too early to tell whether Speed Apparel Holding has stable dividend payments.
  • Speed Apparel Holding only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Speed Apparel Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.4x 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 Speed Apparel Holding'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 Speed Apparel Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Speed Apparel Holding 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.

8183 Management

 What is the CEO of Speed Apparel Holding'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
Wing Kai Chan
COMPENSATION HK$2,228,000
AGE 49
TENURE AS CEO 2.8 years
CEO Bio

Mr. Chan Wing Kai has been Chairman of the Board, Chief Executive Officer and Chief Compliance Officer at Speed Apparel Holding Limited since June 15, 2016. Mr. Chan has been an Executive Director of Speed Apparel Holding Limited since November 19, 2015. He is responsible for the overall strategic planning and corporate policy making, as well as business development and day-to-day management of Speed Apparel Holding Limited’s business operation. Mr. Chan has more than 25 years of sales and merchandising experience in the apparel industry. Prior to joining Speed Apparel, he had been employed by South Overseas Fashion Limited from March 1990 to March 1995 and he was dispatched to Yamaichi Nitto Company Limited in Japan for on-the-job training from March 1993 to February 1994. He then worked for a knitwear manufacturing company, a subsidiary of South Asia Textiles (Holdings) Limited from 1995 to 2000. He was responsible for the operation and management of Speed Apparel’s business since he joined it. He is also a Director of Speed Apparel BVI, Speed Apparel HK, Speed Apparel Shenzhen and Knit World. Mr. Chan completed his secondary education in Hong Kong in 1987. He obtained a Level 1 certificate of the Japanese Language Proficiency Test in February 1990. He completed a course entitled ‘‘Professional certificate in business management’’ co-organised by Li Ka Shing Institute of Professional and Continuing Education, The Open University of Hong Kong and ET Business College in November 2008.

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

Average tenure and age of the Speed Apparel Holding management team in years:

3.5
Average Tenure
48
Average Age
  • The tenure for the Speed Apparel Holding management team is about average.
Management Team

Wing Kai Chan

TITLE
Chairman
COMPENSATION
HK$2M
AGE
49
TENURE
2.8 yrs

Ming Ng

TITLE
Executive Director
COMPENSATION
HK$699K
AGE
48

Winnie Wu

TITLE
CFO & Company Secretary
AGE
43
TENURE
3.5 yrs

Yee Sze

TITLE
Assistant to Chief Executive Officer
AGE
48
TENURE
12.1 yrs
Board of Directors Tenure

Average tenure and age of the Speed Apparel Holding board of directors in years:

2.2
Average Tenure
48
Average Age
  • The average tenure for the Speed Apparel Holding board of directors is less than 3 years, this suggests a new board.
Board of Directors

Wing Kai Chan

TITLE
Chairman
COMPENSATION
HK$2M
AGE
49
TENURE
2.8 yrs

Ming Ng

TITLE
Executive Director
COMPENSATION
HK$699K
AGE
48
TENURE
2.8 yrs

Chi Shing Kwok

TITLE
Independent Non-Executive Director
COMPENSATION
HK$100K
AGE
56
TENURE
2.2 yrs

Siu Chan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$100K
AGE
48
TENURE
2.2 yrs

Edwin Ma

TITLE
Independent Non-Executive Director
COMPENSATION
HK$100K
AGE
45
TENURE
2.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Speed Apparel Holding'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. Speed Apparel Holding 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.

8183 News

Simply Wall St News

Is Speed Apparel Holding Limited (HKG:8183) A Strong Dividend Stock?

Recently, Speed Apparel Holding Limited (HKG:8183) has started paying dividends to shareholders. … Let's take a look at Speed Apparel Holding in more detail. … Check out our latest analysis for Speed Apparel Holding

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What Type Of Shareholder Owns Speed Apparel Holding Limited's (HKG:8183)?

Every investor in Speed Apparel Holding Limited (HKG:8183) should be aware of the most powerful shareholder groups. … With a market capitalization of HK$238m, Speed Apparel Holding is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for Speed Apparel Holding

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Does Speed Apparel Holding Limited's (HKG:8183) P/E Ratio Signal A Buying Opportunity?

To keep it practical, we'll show how Speed Apparel Holding Limited's (HKG:8183) P/E ratio could help you assess the value on offer. … Based on the last twelve months, Speed Apparel Holding's P/E ratio is 9.69. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

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What Can We Make Of Speed Apparel Holding Limited’s (HKG:8183) High Return On Capital?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

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Could The Speed Apparel Holding Limited (HKG:8183) Ownership Structure Tell Us Something Useful?

Every investor in Speed Apparel Holding Limited (HKG:8183) should be aware of the most powerful shareholder groups. … Speed Apparel Holding is a smaller company with a market capitalization of HK$250m, so it may still be flying under the radar of many institutional investors. … View our latest analysis for Speed Apparel Holding

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Is Speed Apparel Holding Limited (HKG:8183) An Attractive Dividend Stock?

Recently, Speed Apparel Holding Limited (HKG:8183) has started paying dividends to shareholders. … Does Speed Apparel Holding tick all the boxes of a great dividend stock? … Check out our latest analysis for Speed Apparel Holding

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Is Speed Apparel Holding Limited (HKG:8183) Attractive At Its Current PE Ratio?

This analysis is intended to introduce important early concepts to people who are starting to invest. … Although some investors may see this as unappealing, it is important to understand the assumptions behind the P/E ratio before making judgments. … View our latest analysis for Speed Apparel Holding

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Who Are The Largest Shareholders In Speed Apparel Holding Limited (HKG:8183)?

Today, I will be analyzing Speed Apparel Holding Limited’s (HKG:8183) recent ownership structure, an important but not-so-popular subject among individual investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … View our latest analysis for Speed Apparel Holding

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Should You Worry About Speed Apparel Holding Limited's (HKG:8183) CEO Pay?

Understanding how CEOs are incentivised to run and grow their company is an important aspect of investing in a stock. … Incentives can be in the form of compensation, which should always be structured in a way that promotes value-creation to shareholders. … CEOs leading companies of similar size and profitability

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8183 Company Info

Description

Speed Apparel Holding Limited operates as an apparel supply chain management services provider primarily in Japan. The company offers knitwear products comprising women’s wear and men’s wear; and apparel supply chain management solutions for its customers ranging from fashion trend analysis, product design and development, sourcing and procurement of materials, production management, quality control, and logistics services. It also provides design and customers account services. It serves owners or sourcing agents of apparel retail brands. The company also sells products in Hong Kong, the People’s Republic of China, Taiwan, France, the United States, Australia, and South Africa. The company was founded in 1999 and is headquartered in Hung Hom, Hong Kong. Speed Apparel Holding Limited is a subsidiary of Speed Development Co. Ltd.

Details
Name: Speed Apparel Holding Limited
8183
Exchange: SEHK
Founded: 1999
HK$245,000,000
500,000,000
Website: http://www.speedapparel.com.hk
Address: Speed Apparel Holding Limited
Gemstar Tower,
Flat A,
Hung Hom,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 8183 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 31. May 2017
Number of employees
Current staff
Staff numbers
67
Speed Apparel Holding employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/23 12:56
End of day share price update: 2019/03/22 00:00
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
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.