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China Everbright

SEHK:165
Snowflake Description

Established dividend payer with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
165
SEHK
HK$24B
Market Cap
  1. Home
  2. HK
  3. Diversified Financials
Company description

China Everbright Limited, an investment holding company, engages in investment activities and provides financial services in Hong Kong and Mainland China. The last earnings update was 133 days ago. More info.


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165 Share Price and Events
7 Day Returns
-1%
SEHK:165
0.2%
HK Capital Markets
0.8%
HK Market
1 Year Returns
-30.1%
SEHK:165
-40.3%
HK Capital Markets
-21%
HK Market
165 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Everbright (165) -1% 3.2% 6.6% -30.1% -6.6% 34.6%
HK Capital Markets 0.2% 6.5% 9.5% -40.3% -6.5% 4.1%
HK Market 0.8% 4.2% 4.2% -21% 32.5% 11.9%
1 Year Return vs Industry and Market
  • 165 outperformed the Capital Markets industry which returned -40.3% over the past year.
  • 165 underperformed the Market in Hong Kong which returned -21% over the past year.
Price Volatility
165
Industry
5yr Volatility vs Market

165 Value

 Is China Everbright 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 China Everbright 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 China Everbright.

SEHK:165 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= HK$23.36 * 11.5%
HK$2.68
Book Value of Equity per Share Median Book Value from the past 5 years. HK$23.36
Discount Rate (Cost of Equity) See below 15.7%
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:165
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 8%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.907 (1 + (1- 25%) (118.87%))
1.716
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.72
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.716 * 8%)
15.72%

Discounted Cash Flow Calculation for SEHK:165 using Excess Returns Model Model

The calculations below outline how an intrinsic value for China Everbright is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

SEHK:165 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.5% – 15.72%) * HK$23.36)
HK$-1.00
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= HK$-1.00 / (15.72% - 2%)
HK$-7.26
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= HK$23.36 + HK$-7.26
HK$16.1
SEHK:165 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$16.10
Current discount Discount to share price of HK$14.16
= -1 x (HK$14.16 - HK$16.10) / HK$16.10
12.1%

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

Current Discount
Amount off the current price China Everbright is available for.
Intrinsic value
12%
Share price is HK$14.16 vs Future cash flow value of HK$16.1
Current Discount Checks
For China Everbright to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Everbright's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • China Everbright's share price is below the future cash flow value, but not 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 China Everbright's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Everbright's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:165 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in HKD HK$2.61
SEHK:165 Share Price ** SEHK (2019-01-23) in HKD HK$14.16
Hong Kong Capital Markets Industry PE Ratio Median Figure of 53 Publicly-Listed Capital Markets Companies 11.94x
Hong Kong Market PE Ratio Median Figure of 1,480 Publicly-Listed Companies 10.26x

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

** Primary Listing of China Everbright.

SEHK:165 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:165 Share Price ÷ EPS (both in HKD)

= 14.16 ÷ 2.61

5.43x

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

  • China Everbright is good value based on earnings compared to the HK Capital Markets industry average.
  • China Everbright is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does China Everbright's expected growth come at a high price?
Raw Data
SEHK:165 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-1.9%per year
Hong Kong Capital Markets Industry PEG Ratio Median Figure of 8 Publicly-Listed Capital Markets Companies 0.45x
Hong Kong Market PEG Ratio Median Figure of 460 Publicly-Listed Companies 0.71x

*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 China Everbright, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on China Everbright's assets?
Raw Data
SEHK:165 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in HKD HK$24.28
SEHK:165 Share Price * SEHK (2019-01-23) in HKD HK$14.16
Hong Kong Capital Markets Industry PB Ratio Median Figure of 73 Publicly-Listed Capital Markets Companies 0.62x
Hong Kong Market PB Ratio Median Figure of 2,115 Publicly-Listed Companies 0.92x
SEHK:165 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:165 Share Price ÷ Book Value per Share (both in HKD)

= 14.16 ÷ 24.28

0.58x

* Primary Listing of China Everbright.

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

  • China Everbright is good value based on assets compared to the HK Capital Markets industry average.
X
Value checks
We assess China Everbright'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. China Everbright has a total score of 3/6, 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.

165 Future Performance

 How is China Everbright expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover China Everbright, 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
-1.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Everbright expected to grow at an attractive rate?
  • China Everbright'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
  • China Everbright's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • China Everbright's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:165 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:165 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -1.9%
SEHK:165 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 20%
Hong Kong Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 17.6%
Hong Kong Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 11.9%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*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:165 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:165 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31
2019-12-31 8,148 1
2018-12-31 6,826 1
SEHK:165 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-06-30 6,021 160 4,395
2018-03-31 5,756 -323 4,168
2017-12-31 5,491 -806 3,941
2017-09-30 5,355 -559 4,049
2017-06-30 5,016 -313 4,158
2017-03-31 4,978 -779 4,077
2016-12-31 4,941 -1,244 3,996
2016-09-30 3,851 222 3,599
2016-06-30 2,761 1,688 3,203
2016-03-31 2,873 1,317 4,145
2015-12-31 2,985 946 5,088
2015-09-30 3,274 -1,944 4,848

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Everbright's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • China Everbright's revenue is expected to grow by 20% yearly, however this is not considered high growth (20% yearly).
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:165 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from China Everbright Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:165 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
2018-12-31
SEHK:165 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-06-30 2.61
2018-03-31 2.47
2017-12-31 2.34
2017-09-30 2.40
2017-06-30 2.47
2017-03-31 2.42
2016-12-31 2.37
2016-09-30 2.14
2016-06-30 1.90
2016-03-31 2.46
2015-12-31 3.02
2015-09-30 2.88

*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 China Everbright will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess China Everbright'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.
China Everbright has a total score of 1/6, 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.

165 Past Performance

  How has China Everbright 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 China Everbright's growth in the last year to its industry (Capital Markets).
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.
  • China Everbright's year on year earnings growth rate has been positive over the past 5 years.
  • China Everbright's 1-year earnings growth is less than its 5-year average (5.7% vs 19.4%)
  • China Everbright's earnings growth has exceeded the HK Capital Markets industry average in the past year (5.7% vs -13.3%).
Earnings and Revenue History
China Everbright'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 China Everbright Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:165 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 6,021.04 4,394.56 622.26
2018-03-31 5,756.22 4,167.65 590.62
2017-12-31 5,491.39 3,940.74 558.98
2017-09-30 5,354.95 4,049.23 507.06
2017-06-30 5,015.51 4,157.71 470.87
2017-03-31 4,978.02 4,076.67 475.58
2016-12-31 4,940.54 3,995.64 480.28
2016-09-30 3,850.95 3,599.15 401.69
2016-06-30 2,761.36 3,202.66 334.15
2016-03-31 2,873.31 4,145.11 351.43
2015-12-31 2,985.26 5,087.57 368.72
2015-09-30 3,273.78 4,848.38 420.97
2015-06-30 3,562.30 4,609.20 480.15
2015-03-31 3,277.82 3,584.44 457.72
2014-12-31 2,993.34 2,559.69 435.30
2014-09-30 3,053.59 2,160.93 423.10
2014-06-30 3,113.85 1,762.18 410.90
2014-03-31 2,722.24 1,554.36 378.01
2013-12-31 2,330.63 1,346.55 345.12
2013-09-30 2,103.24 1,229.07 293.61
2013-06-30 1,875.84 1,111.60 242.09
2013-03-31 1,952.89 1,126.58 245.64
2012-12-31 2,029.94 1,141.56 249.18
2012-09-30 2,441.77 1,133.51 249.73
2012-06-30 2,123.05 1,125.47 250.27
2012-03-31 1,765.78 1,262.86 236.31

*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.
  • China Everbright has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Everbright used its assets more efficiently than the HK Capital Markets industry average last year based on Return on Assets.
  • China Everbright has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess China Everbright'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 Capital Markets 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.
China Everbright has a total score of 4/6, 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.

165 Health

 How is China Everbright'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 China Everbright's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Everbright is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Everbright's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of China Everbright'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 not covered by short term assets, assets are 0.4x 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 China Everbright Company Filings, last reported 6 months ago.

SEHK:165 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 42,533.23 28,245.09 7,279.24
2018-03-31 42,533.23 28,245.09 7,279.24
2017-12-31 42,345.00 24,457.91 7,062.74
2017-09-30 42,345.00 24,457.91 7,062.74
2017-06-30 39,323.57 21,001.41 5,362.30
2017-03-31 39,323.57 21,001.41 5,362.30
2016-12-31 39,486.40 19,590.54 7,626.27
2016-09-30 39,486.40 19,590.54 7,626.27
2016-06-30 39,649.03 15,387.56 8,899.48
2016-03-31 39,649.03 15,387.56 8,899.48
2015-12-31 42,947.51 14,510.96 8,572.97
2015-09-30 42,947.51 14,510.96 8,572.97
2015-06-30 44,797.17 11,302.97 6,120.28
2015-03-31 44,797.17 11,302.97 6,120.28
2014-12-31 38,190.59 9,143.00 6,762.31
2014-09-30 38,190.59 9,143.00 6,762.31
2014-06-30 31,603.34 4,441.50 6,207.54
2014-03-31 31,603.34 4,441.50 6,207.54
2013-12-31 31,728.91 3,641.94 4,872.85
2013-09-30 31,728.91 3,641.94 4,872.85
2013-06-30 31,063.68 2,245.04 6,102.27
2013-03-31 31,063.68 2,245.04 6,102.27
2012-12-31 29,956.28 1,194.94 3,643.89
2012-09-30 29,956.28 1,194.94 3,643.89
2012-06-30 28,533.18 857.50 3,588.41
2012-03-31 28,533.18 857.50 3,588.41
  • China Everbright's level of debt (66.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (7.3% vs 66.4% today).
  • Debt is not well covered by operating cash flow (0.6%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.7x coverage).
X
Financial health checks
We assess China Everbright'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. China Everbright has a total score of 2/6, 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.

165 Dividends

 What is China Everbright'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
6%
Current annual income from China Everbright dividends. Estimated to be 6.19% next year.
If you bought HK$2,000 of China Everbright shares you are expected to receive HK$120 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?
  • China Everbright's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.13%).
  • China Everbright's dividend is above the markets top 25% of dividend payers in Hong Kong (5.83%).
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:165 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 1 Analyst Estimates (S&P Global) See Below
Hong Kong Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 4.6%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 918 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:165 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.75 1.00
2019-12-31 0.94 2.00
2018-12-31 0.86 2.00
SEHK:165 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2018-04-16 0.850 5.891
2018-03-28 0.850 5.047
2017-04-18 0.750 4.231
2017-03-30 0.750 4.479
2016-05-18 0.750 4.877
2015-05-27 0.480 2.719
2014-04-15 0.310 2.051
2014-03-31 0.310 2.888
2013-04-10 0.260 2.352
2013-03-26 0.260 2.141
2012-09-05 0.410 3.393
2012-03-22 0.450 4.126
2011-08-25 0.450 3.906
2011-03-29 0.430 2.899
2010-03-25 0.400 2.179
2009-08-26 0.350 1.840
2009-04-07 0.240 1.312
2009-03-26 0.200 1.537
2009-01-29 0.160 1.654

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of China Everbright's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).
X
Income/ dividend checks
We assess China Everbright'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 China Everbright afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Everbright has a total score of 5/6, see the detailed checks below.


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

165 Management

 What is the CEO of China Everbright'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
Shuang Chen
COMPENSATION HK$13,625,000
AGE 51
TENURE AS CEO 11.4 years
CEO Bio

Mr. Shuang Chen, JP has been the Chief Executive Officer of China Everbright Limited since August 6, 2007 and also serves as its Deputy General Manager. Mr. Chen serves as the Chief Executive Officer of China Everbright Investment Management Limited. He has been Executive Director of China Everbright Ltd. since August 2004. He serves as the Deputy General Manager of Legal Affairs Department of China Everbright Holdings Company Limited and China Everbright Group Limited. Mr. Chen served as the Chief Executive Officer of China Aircraft Leasing Group Holdings Limited from June 18, 2015 to January 19, 2017. He served as an Equity Supervisor of China Everbright Bank Co., Ltd. from December 2007 to October 21, 2014. Prior to joining the China Everbright Group, he served as the Chief of Legal Department of Bank of Communications. He has been the Chairman of China Aircraft Leasing Group Holdings Limited since August 2013 and its Executive Director since June 18, 2015. He served as Non-Executive Director of China Aircraft Leasing Group Holdings Limited since August 12, 2013 until June 18, 2015. Mr. Chen is responsible for reviewing China Aircraft Leasing Group's overall strategic planning and business development. He serves as Executive Director of China Everbright limited. Mr. Chen serves as a Director of China Everbright Holdings Company Limited and Everbright Securities Company Limited. He serves as an Independent Non-Executive Director of China Nonferrous Mining Corporation Limited. He served as Independent Director of Noah Holdings Limited since November 2010 until May 1, 2015. He served as an Executive Director of China Everbright International Limited from December 2002 to November 23, 2007. Mr. Chen serves as the Chairman of Chinese Financial Association of Hong Kong. He serves as the Vice Chairman at Chinese Securities Association of Hong Kong and is a Non-Official Member of the Financial Services Development Council. He is a Visiting Professor of East China University of Political Science and Law. He is a Senior Economist and a qualified Lawyer in the People's Republic of China. Mr. Chen holds a Master Degree in Civil and Commercial Law from East China University of Political Science and Law in 1992 and a diploma in legal studies from the School of Professional and Continuing Education of the University of Hong Kong in 2003.

CEO Compensation
  • Shuang's compensation has increased by more than 20% in the past year.
  • Shuang's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the China Everbright management team in years:

2.1
Average Tenure
49
Average Age
  • The tenure for the China Everbright management team is about average.
Management Team

Shuang Chen

TITLE
CEO & Executive Director
COMPENSATION
HK$14M
AGE
51
TENURE
11.4 yrs

Richard Tang

TITLE
CFO & Executive Director
COMPENSATION
HK$8M
AGE
56

Lianchen Yin

TITLE
Chief Investment Officer & Executive Director
COMPENSATION
HK$8M
AGE
52
TENURE
7.8 yrs

Mingao Zhang

TITLE
Chief Investment Officer & Executive Director
COMPENSATION
HK$3M
AGE
50
TENURE
1.1 yrs

Ping Yang

TITLE
Chief Investment Officer
AGE
48

James Pan

TITLE
Chief Investment Officer
AGE
48
TENURE
2.1 yrs

Ying Pan

TITLE
Chief Investment Officer
AGE
48

Zhao Zehui

TITLE
Senior Investment Director
TENURE
1 yrs

Tung Wong

TITLE
Chief Administration Officer
AGE
49

Desmond Chan

TITLE
General Counsel & Company Secretary
AGE
49
Board of Directors Tenure

Average tenure and age of the China Everbright board of directors in years:

4.3
Average Tenure
53.5
Average Age
  • The tenure for the China Everbright board of directors is about average.
Board of Directors

Yunge Cai

TITLE
Chairman
AGE
46
TENURE
2.1 yrs

Shuang Chen

TITLE
CEO & Executive Director
COMPENSATION
HK$14M
AGE
51
TENURE
14.4 yrs

Richard Tang

TITLE
CFO & Executive Director
COMPENSATION
HK$8M
AGE
56
TENURE
11.5 yrs

Lianchen Yin

TITLE
Chief Investment Officer & Executive Director
COMPENSATION
HK$8M
AGE
52
TENURE
1.6 yrs

Mingao Zhang

TITLE
Chief Investment Officer & Executive Director
COMPENSATION
HK$3M
AGE
50
TENURE
1.1 yrs

Zhijun Lin

TITLE
Independent Non-Executive Director
COMPENSATION
HK$474K
AGE
63
TENURE
13.3 yrs

Timpson Chung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$498K
AGE
67
TENURE
6.4 yrs

Stephen Law

TITLE
Independent Non-Executive Director
AGE
55
TENURE
0.7 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$) Value (HK$)
03. Jul 18 Buy Shuang Chen Individual 28. Jun 18 28. Jun 18 50,000 HK$14.10 HK$705,000
X
Management checks
We assess China Everbright'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. China Everbright 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.

165 News

Simply Wall St News

Here's How P/E Ratios Can Help Us Understand China Everbright Limited (HKG:165)

We'll show how you can use China Everbright Limited's (HKG:165) P/E ratio to inform your assessment of the investment opportunity. … China Everbright has a price to earnings ratio of 5.18, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Does China Everbright Limited's (HKG:165) 5.7% Earnings Growth Reflect The Long-Term Trend?

When China Everbright Limited (HKG:165) released its most recent earnings update (30 June 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … 165's trailing twelve-month earnings (from 30 June 2018) of HK$4.4b has … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 19%, indicating the rate at which 165 is growing has slowed down

Simply Wall St -

What Kind Of Shareholder Appears On The China Everbright Limited's (HKG:165) Shareholder Register?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

Should China Everbright Limited (HKG:165) Be Part Of Your Dividend Portfolio?

China Everbright Limited (HKG:165) has pleased shareholders over the past 10 years, by paying out dividends. … The stock currently pays out a dividend yield of 6.3%, and has a market cap of HK$22.3b. … Let's dig deeper into whether China Everbright should have a place in your portfolio.

Simply Wall St -

What You Must Know About China Everbright Limited's (HKG:165) Major Investors

In this article, I'm going to take a look at China Everbright Limited’s (HKG:165) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … Therefore, it is beneficial for us to examine 165's ownership structure in more detail.

Simply Wall St -

Does China Everbright Limited (HKG:165) Have A Place In Your Portfolio?

Over the past 10 years China Everbright Limited (HKG:165) has returned an average of 3.00% per year from dividend payouts. … The stock currently pays out a dividend yield of 6.05%, and has a market cap of HK$23.66b. … Let's take a look at China Everbright in more detail.

Simply Wall St -

How Has China Everbright Limited's (HKG:165) Earnings Fared Against The Long Term Trend

Understanding China Everbright Limited's (HKG:165) performance as a company requires examining more than earnings from one point in time. … Today I will take you through a basic sense check to gain perspective on how China Everbright is doing by evaluating its latest earnings with its longer term trend as well as its industry peers' performance over the same period. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 21.80%, indicating the rate at which 165 is growing has slowed down

Simply Wall St -

China Everbright Limited (HKG:165): Dividend Is Coming In 2 Days, Should You Buy?

Have you been keeping an eye on China Everbright Limited's (SEHK:165) upcoming dividend of HK$0.6 per share payable on the 21 June 2018? … Check out our latest analysis for China Everbright 5 checks you should do on a dividend stock If you are a dividend investor, you should always assess these five key metrics: Is it paying an annual yield above 75% of dividend payers? … Next Steps: With these dividend metrics in mind, I definitely rank China Everbright as a strong income stock, and is worth further research for anyone who considers dividends an important part of their portfolio strategy.

Simply Wall St -

Best Dividend Paying Stock in May

China Everbright Limited (SEHK:165) China Everbright Limited, an investment holding company, engages in investment activities and provides financial services in Hong Kong and Mainland China. … 165 has a great dividend yield of 4.97% and the company currently pays out 36.35% of its profits as dividends. … SEHK:576 Historical Dividend Yield May 22nd 18 Yue Yuen Industrial (Holdings) Limited (SEHK:551) Yue Yuen Industrial (Holdings) Limited, an investment holding company, engages in the manufacturing, marketing, and retailing of athletic footwear, athletic style leisure footwear, and casual and outdoor footwear in the People’s Republic of China, the United States, Europe, and internationally.

Simply Wall St -

Great Financial Dividend Stocks For Every Portfolio

SEHK:165 Historical Dividend Yield May 10th 18 Chongqing Rural Commercial Bank Co., Ltd. … SEHK:3618 Historical Dividend Yield May 10th 18 China Zheshang Bank Co., Ltd (SEHK:2016) 2016 has a great dividend yield of 4.51% and is paying out 29.64% of profits as dividends , and analysts are expecting a 34.74% payout ratio in the next three years. … SEHK:2016 Historical Dividend Yield May 10th 18 For more solid dividend paying companies to add to your portfolio, explore this interactive list of top dividend payers.

Simply Wall St -

165 Company Info

Map
Description

China Everbright Limited, an investment holding company, engages in investment activities and provides financial services in Hong Kong and Mainland China. The company invests in unlisted equity securities and/or equity derivatives, as well as in the start-up and development stage companies. It also focuses on long term equity investment in real estate, infrastructure, medical and healthcare, resources, manufacturing, technology, media, and telecom sectors. In addition, the company is involved in the private equity investment, pre-IPO financing, and structured financing for listed companies; and treasury management operations. It provides a range of financial services, including asset management, investment management, and investment advisory services related to absolute return funds, bond funds, and equity funds, as well as offers secretarial, money lending, fund management, venture capital, leasing, and consultancy services. The company was founded in 1997 and is headquartered in Hong Kong, Hong Kong, and is considered as a Red Chip company due to its listing on the Hong Kong Stock Exchange. China Everbright Limited is a subsidiary of Honorich Holdings Limited.

Details
Name: China Everbright Limited
165
Exchange: SEHK
Founded: 1997
HK$23,762,081,400
1,685,254,000
Website: http://www.everbright.com
Address: China Everbright Limited
Far East Finance Centre,
46th Floor,
Hong Kong,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 165 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
OTCPK CEVI.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB EVI Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
SHSC 165 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 02. Jan 1992
SZSC 165 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 02. Jan 1992
OTCPK CEVI.Y ADR Pink Sheets LLC US USD 06. Nov 2008
Number of employees
Current staff
Staff numbers
347
China Everbright employees.
Industry
Diversified Capital Markets
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/23 12:39
End of day share price update: 2019/01/23 00:00
Last estimates confirmation: 2019/01/21
Last earnings filing: 2018/09/12
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.