SEHK:1992

Stock Analysis Report

Executive Summary

Fosun Tourism Group, an investment holding company, provides resort services in Europe, the Middle East, Africa, the United States, and the Asia Pacific.


Snowflake Analysis

Reasonable growth potential and fair value.

Share Price & News

How has Fosun Tourism Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 1992's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.1%

1992

5.5%

HK Hospitality

2.9%

HK Market


1 Year Return

-36.7%

1992

3.5%

HK Hospitality

-3.8%

HK Market

Return vs Industry: 1992 underperformed the Hong Kong Hospitality industry which returned 3.5% over the past year.

Return vs Market: 1992 underperformed the Hong Kong Market which returned -3.8% over the past year.


Shareholder returns

1992IndustryMarket
7 Day1.1%5.5%2.9%
30 Day-17.1%-9.9%-4.1%
90 Day-6.0%-0.01%2.9%
1 Year-36.3%-36.7%6.7%3.5%-0.2%-3.8%
3 Yearn/a24.5%13.3%15.3%3.7%
5 Yearn/a11.3%-6.4%16.8%-2.7%

Price Volatility Vs. Market

How volatile is Fosun Tourism Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Fosun Tourism Group undervalued compared to its fair value and its price relative to the market?

9.05x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 1992 (HK$9.4) is trading above our estimate of fair value (HK$2.85)

Significantly Below Fair Value: 1992 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 1992 is good value based on its PE Ratio (9x) compared to the Hospitality industry average (12.1x).

PE vs Market: 1992 is good value based on its PE Ratio (9x) compared to the Hong Kong market (10.1x).


Price to Earnings Growth Ratio

PEG Ratio: 1992 is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: 1992 is overvalued based on its PB Ratio (1.3x) compared to the HK Hospitality industry average (0.8x).


Next Steps

Future Growth

How is Fosun Tourism Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

27.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1992's forecast earnings growth (27.6% per year) is above the savings rate (1.6%).

Earnings vs Market: 1992's earnings (27.6% per year) are forecast to grow faster than the Hong Kong market (11.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 1992's revenue (17.1% per year) is forecast to grow faster than the Hong Kong market (10.5% per year).

High Growth Revenue: 1992's revenue (17.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1992's Return on Equity is forecast to be low in 3 years time (12.1%).


Next Steps

Past Performance

How has Fosun Tourism Group performed over the past 5 years?

97.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1992 has high quality earnings.

Growing Profit Margin: 1992 became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: 1992's earnings have grown significantly by 97.3% per year over the past 5 years.

Accelerating Growth: 1992 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: 1992 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Hospitality industry (-2.1%).


Return on Equity

High ROE: 1992's Return on Equity (12%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Fosun Tourism Group's financial position?


Financial Position Analysis

Short Term Liabilities: 1992's short term assets (CN¥7.9B) do not cover its short term liabilities (CN¥13.7B).

Long Term Liabilities: 1992's short term assets (CN¥7.9B) do not cover its long term liabilities (CN¥13.2B).


Debt to Equity History and Analysis

Debt Level: 1992's debt to equity ratio (68.7%) is considered high.

Reducing Debt: Insufficient data to determine if 1992's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: 1992's debt is well covered by operating cash flow (30.4%).

Interest Coverage: 1992's interest payments on its debt are well covered by EBIT (4.9x coverage).


Balance Sheet

Inventory Level: 1992 has a high level of physical assets or inventory.

Debt Coverage by Assets: 1992's debt is covered by short term assets (assets are 1.3x debt).


Next Steps

Dividend

What is Fosun Tourism Group's current dividend yield, its reliability and sustainability?

1.46%

Current Dividend Yield


Dividend Yield vs Market

company1.5%marketbottom25%2.2%markettop25%6.3%industryaverage3.0%forecastin3Years2.5%

Current dividend yield vs market & industry

Notable Dividend: 1992's dividend (1.46%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.25%).

High Dividend: 1992's dividend (1.46%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.33%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether 1992's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if 1992's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (6.6%), 1992's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 1992's dividends in 3 years are forecast to be well covered by earnings (21.3% payout ratio).


Next Steps

Management

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

0.7yrs

Average management tenure


CEO

Jiannong Qian (57yo)

10.3yrs

Tenure

Dr. Jiannong Qian, Ph.D., serves as Chairman of the Board at Fosun Tourism Group since September 2016 and Executive Director since August 2018 was appointed as chief executive officer of the Group since th ...


Leadership Team

NamePositionTenureCompensationOwnership
Jiannong Qian
Executive Chairman & CEO10.3yrsno data0.041% CN¥4.8m
Henri Giscard d'Estaing
Deputy CEO & Vice Chairman1.5yrsno datano data
Minglong Cao
Co- President & President of Tourism Destination Development Management Center0.08yrsno datano data
Qing Guo
Co-President & President of The Tourism Destination Business Development & Operation Mgmt Center0.08yrsno datano data
Wenping Wang
CFO, VP & Executive Director1.5yrsno data0.032% CN¥3.8m
Bingbin Xu
Co- CFO0.08yrsno datano data
Yuenan Wang
VP & GM of HR0yrsno datano data
Ming Cao
Senior VP & President of Hainan Atlantis0yrsno datano data
Ching Ching Leung
Company Secretary0.7yrsno datano data

0.7yrs

Average Tenure

44yo

Average Age

Experienced Management: 1992's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Jiannong Qian
Executive Chairman & CEO10.3yrsno data0.041% CN¥4.8m
Henri Giscard d'Estaing
Deputy CEO & Vice Chairman1.5yrsno datano data
Wenping Wang
CFO, VP & Executive Director1.5yrsno data0.032% CN¥3.8m
Allan Zeman
Independent Non-Executive Director1.3yrsno datano data
Rong Xin
Independent Non-executive Director1.3yrsno datano data
Yongqing Guo
Independent Non-Executive Director1.3yrsno datano data

1.4yrs

Average Tenure

56yo

Average Age

Experienced Board: 1992's board of directors are not considered experienced ( 1.4 years average tenure), which suggests a new board.


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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 12.8%.


Top Shareholders

Company Information

Fosun Tourism Group's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fosun Tourism Group
  • Ticker: 1992
  • Exchange: SEHK
  • Founded: 2009
  • Industry: Hotels, Resorts and Cruise Lines
  • Sector: Consumer Services
  • Market Cap: HK$11.807b
  • Shares outstanding: 1.24b
  • Website: https://www.fosunholiday.com

Number of Employees


Location

  • Fosun Tourism Group
  • Tower S1
  • 18th Floor
  • Shanghai
  • 200010
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1992SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDDec 2018
A2PAHLDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2018
1992SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDDec 2018
1992SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDDec 2018

Biography

Fosun Tourism Group, an investment holding company, provides resort services in Europe, the Middle East, Africa, the United States, and the Asia Pacific. The company’s Resorts segment operates vacation resorts under the Club Med and Club Med Joyview brands, as well as offers ancillary travel and transportation services. Its facilities include accommodations, and sports and leisure facilities; and entertainment, childcare, and meal facilities, as well as an open bar. As of June 30, 2018, it had 17 owned, 43 leased, and 9 management contract operated resorts. Its Tourism Destinations segment engages in the development, management, and operation of facilities for sightseeing, amusement, leisure entertainment, and leisure vacation; facilities supporting tourism, including restaurants in tourism and ancillary areas, vacation apartments for letting, and sites for commercial and tourism service management; and facilities indirectly supporting tourism comprising vacation residences for sale and neighborhoods. This segment offers services under the Atlantis Sanya brand. The company’s Services and Solutions in Various Tourism and Leisure Settings segment is involved in the development and promotion of the cultural events, performing arts, live entertainment, and culture-related services; and operation of online and offline tourism and leisure products, and solution platforms. It operates Miniversity, a learning and playing club for children; and FOLIDAY platform. The company serves individuals and groups; owners of resorts; visitors of tourism destinations; purchasers of tourism-related vacation units; and owners and concession right holders of tourism destinations. The company was formerly known as Fosun Tourism and Culture Group (Cayman) Company Limited and changed its name to Fosun Tourism Group in August 2018. Fosun Tourism Group was founded in 2009 and is headquartered in Shanghai, China. Fosun Tourism Group is a subsidiary of Fosun International Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/18 13:22
End of Day Share Price2020/02/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.