SEHK:1476

Stock Analysis Report

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Executive Summary

Hengtai Securities Co., Ltd provides a range of financial products and services in China.


Snowflake Analysis

Adequate balance sheet with questionable track record.

Share Price & News

How has Hengtai Securities's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 1476 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-10.4%

1476

-1.9%

HK Capital Markets

-3.1%

HK Market


1 Year Return

-16.3%

1476

-6.8%

HK Capital Markets

-9.9%

HK Market

Return vs Industry: 1476 exceeded the Hong Kong Capital Markets industry which returned -6.6% over the past year.

Return vs Market: 1476 exceeded the Hong Kong Market which returned -11.2% over the past year.


Shareholder returns

1476IndustryMarket
7 Day-10.4%-1.9%-3.1%
30 Day-10.4%5.7%0.4%
90 Day-20.6%-7.0%-8.0%
1 Year-16.3%-16.3%-4.0%-6.8%-6.9%-9.9%
3 Year-12.6%-16.6%-20.9%-27.8%-3.9%-13.7%
5 Yearn/a-50.7%-57.9%-16.1%-29.1%

Price Volatility Vs. Market

How volatile is Hengtai Securities's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Hengtai Securities undervalued compared to its fair value and its price relative to the market?

9.42x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 1476 (HK$2.8) is trading above our estimate of fair value (HK$1.61)

Significantly Below Fair Value: 1476 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 1476 is good value based on its PE Ratio (10.5x) compared to the Capital Markets industry average (10.7x).

PE vs Market: 1476 is poor value based on its PE Ratio (10.5x) compared to the Hong Kong market (9.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 1476's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 1476 is overvalued based on its PB Ratio (0.7x) compared to the HK Capital Markets industry average (0.4x).


Next Steps

Future Growth

How is Hengtai Securities forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.9%

Forecasted Diversified Financials 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 Hengtai Securities 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 Hengtai Securities performed over the past 5 years?

-42.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1476 has high quality earnings.

Growing Profit Margin: 1476 became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: 1476's earnings have declined by -42.6% per year over the past 5 years.

Accelerating Growth: 1476 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: 1476 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (-18.9%).


Return on Equity

High ROE: 1476's Return on Equity (7.2%) is considered low.


Next Steps

Financial Health

How is Hengtai Securities's financial position?


Financial Position Analysis

Short Term Liabilities: 1476's short term assets (CN¥27.9B) exceed its short term liabilities (CN¥17.2B).

Long Term Liabilities: 1476's short term assets (CN¥27.9B) exceed its long term liabilities (CN¥1.7B).


Debt to Equity History and Analysis

Debt Level: 1476's debt to equity ratio (73.7%) is considered high.

Reducing Debt: 1476's debt to equity ratio has reduced from 139.8% to 73.7% over the past 5 years.

Debt Coverage: 1476's debt is well covered by operating cash flow (29.6%).

Interest Coverage: Insufficient data to determine if 1476's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is Hengtai Securities's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 1476's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 1476'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 1476's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 1476's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 1476 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 1476'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?

4.3yrs

Average management tenure


CEO

Zhuang Niu (47yo)

4.92yrs

Tenure

CN¥11,643,000

Compensation

Mr. Zhuang Niu has been the President of Hengtai Securities Co., Ltd since June 26, 2015. Mr. Niu is mainly responsible for formulating the Hengtai’s corporate and business strategies and making major corp ...


Leadership Team

NamePositionTenureCompensationOwnership
Jiemin Pang
Executive Chairman of the Board9.42yrsCN¥5.78mno data
Yigang Wu
Executive Vice Chairman of the Board4.92yrsCN¥3.05mno data
Zhuang Niu
President4.92yrsCN¥11.64mno data
Chenxi Zhai
Co-President0.50yrno datano data
Shufei Yang
Chief Financial Officer3.58yrsno datano data
Hang Sun
Chief Financial Officer0.083yrno datano data
Zhanjun Liu
Chief Compliance Officer0.083yrno datano data
Hui Wang
Manager of Office of the Board & Employee Representative Supervisor7.67yrsCN¥1.19mno data
Fang Yu
Chief Risk Officer6.08yrsCN¥6.05mno data
Lixin Fu
Vice President12yrsCN¥6.86mno data

4.3yrs

Average Tenure

46.5yo

Average Age

Experienced Management: 1476's management team is considered experienced (4.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Jiemin Pang
Executive Chairman of the Board9.42yrsCN¥5.78mno data
Yigang Wu
Executive Vice Chairman of the Board4.92yrsCN¥3.05mno data
Hui Wang
Manager of Office of the Board & Employee Representative Supervisor7.67yrsCN¥1.19mno data
Sek Kong Lam
Independent Non-Executive Director5.08yrsCN¥150.00kno data
Liwen Guo
Chairman of the Supervisory Board9.42yrsCN¥5.88mno data
Liang Gao
Non-Executive Director2.33yrsCN¥75.00kno data
Hong Dong
Non-Executive Director2.33yrsCN¥75.00kno data
Lei Yu
Non-Executive Director0.67yrCN¥19.00kno data
Linjing Wang
Non-Executive Director0.67yrCN¥19.00kno data
Deren Xie
Independent Non-Executive Director0.33yrno datano data

3.6yrs

Average Tenure

48yo

Average Age

Experienced Board: 1476's board of directors are considered experienced (3.6 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.


Ownership Breakdown

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


Top Shareholders

Company Information

Hengtai Securities Co., Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Hengtai Securities Co., Ltd
  • Ticker: 1476
  • Exchange: SEHK
  • Founded: 1988
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Market Cap: HK$6.537b
  • Shares outstanding: 2.60b
  • Website: https://www.cnht.com.cn

Number of Employees


Location

  • Hengtai Securities Co., Ltd
  • China Life Centre
  • 11th Floor
  • Beijing
  • 100033
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1476SEHK (The Stock Exchange of Hong Kong Ltd.)YesForeign shares-Foreign ListedHKHKDOct 2015

Biography

Hengtai Securities Co., Ltd provides a range of financial products and services in China. The company's Brokerage and Wealth Management segment trades in stocks, funds, bonds, and futures on behalf of the clients; and provides investment and financing solutions to high-end, professional, and institutional clients, including sale of financial products, margin financing, and securities lending. Its Investment Banking segment offers corporate finance services comprising financial advisory, equity underwriting, and debt underwriting services, as well as over-the-counter services to institutional clients; and services to companies entering into National Equities Exchange and Quotations board for share quotation and transfer. The company's Proprietary Trading segment engages in trading of equities, bonds, funds, and derivatives for the group. Its Investment Management segment is involved in asset management, private equity investment, and alternative investment activities. The company is also involved in the securities investment and fund distribution, and securities sponsoring businesses; and venture capital and industrial investment businesses. In addition, it provides project investment, fund raising and management, and corporate management services, as well as investment, corporate management, business, and financial consulting services; and corporate asset reorganization, merger and acquisition, and marketing planning services, as well as manages equity investment funds and equity investments. The company also serves individuals, institutional investors, and financial institutions, as well as large, small, and medium enterprises. As of December 31, 2019, the company operated 144 securities branches. Hengtai Securities Co., Ltd was founded in 1988 and is headquartered in Beijing, the People’s Republic of China. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/27 16:34
End of Day Share Price2020/05/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.