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Everbright Securities

SEHK:6178
Snowflake Description

Reasonable growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
6178
SEHK
CN¥58B
Market Cap
  1. Home
  2. HK
  3. Diversified Financials
Company description

Everbright Securities Company Limited, together with its subsidiaries, engages in brokerage and wealth management, institutional securities service, investment management, and credit businesses in China and internationally. The last earnings update was 32 days ago. More info.


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6178 Share Price and Events
7 Day Returns
-1.8%
SEHK:6178
1%
HK Capital Markets
2.3%
HK Market
1 Year Returns
-13.5%
SEHK:6178
-18.4%
HK Capital Markets
-11.2%
HK Market
6178 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Everbright Securities (6178) -1.8% 14.9% 16.5% -13.5% - -
HK Capital Markets 1% 9.7% 22.5% -18.4% -7.6% 29.9%
HK Market 2.3% 4.2% 10.2% -11.2% 27.9% 21.8%
1 Year Return vs Industry and Market
  • 6178 outperformed the Capital Markets industry which returned -18.4% over the past year.
  • 6178 underperformed the Market in Hong Kong which returned -11.2% over the past year.
Price Volatility
6178
Industry
5yr Volatility vs Market

6178 Value

 Is Everbright Securities 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 Everbright Securities 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    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Everbright Securities.

SEHK:6178 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= CN¥11.08 * 5.2%
CN¥0.58
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. CN¥11.08
Discount Rate (Cost of Equity) See below 11.8%
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:6178
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.732 (1 + (1- 25%) (176.22%))
1.469
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.47
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.469 * 6.65%)
11.77%

Discounted Cash Flow Calculation for SEHK:6178 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Everbright Securities 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:6178 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.2% – 11.77%) * CN¥11.08)
CN¥-0.72
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥-0.72 / (11.77% - 2%)
CN¥-7.42
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥11.08 + CN¥-7.42
CN¥3.66
SEHK:6178 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in SEHK:6178 represents 0.60677x of SHSE:601788
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.60677x
Value per Share
(Listing Adjusted, HKD)
= Value per Share (CNY) x Listing Adjustment Factor
= CN¥ 3.66 x 0.60677
HK$2.22
Value per share (HKD) From above. HK$2.22
Current discount Discount to share price of HK$8.24
= -1 x (HK$8.24 - HK$2.22) / HK$2.22
-271%

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

  • The current share price of Everbright Securities is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Everbright Securities's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Everbright Securities's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:6178 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in CNY CN¥0.42
SHSE:601788 Share Price ** SHSE (2019-03-18) in CNY CN¥13.58
Hong Kong Capital Markets Industry PE Ratio Median Figure of 49 Publicly-Listed Capital Markets Companies 14.23x
Hong Kong Market PE Ratio Median Figure of 1,494 Publicly-Listed Companies 10.91x

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

** Primary Listing of Everbright Securities.

SEHK:6178 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SHSE:601788 Share Price ÷ EPS (both in CNY)

= 13.58 ÷ 0.42

31.99x

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

  • Everbright Securities is overvalued based on earnings compared to the HK Capital Markets industry average.
  • Everbright Securities is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Everbright Securities's expected growth come at a high price?
Raw Data
SEHK:6178 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 31.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
24.4%per year
Hong Kong Capital Markets Industry PEG Ratio Median Figure of 8 Publicly-Listed Capital Markets Companies 0.47x
Hong Kong Market PEG Ratio Median Figure of 469 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

SEHK:6178 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 31.99x ÷ 24.4%

1.31x

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

  • Everbright Securities is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Everbright Securities's assets?
Raw Data
SEHK:6178 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in CNY CN¥10.58
SHSE:601788 Share Price * SHSE (2019-03-18) in CNY CN¥13.58
Hong Kong Capital Markets Industry PB Ratio Median Figure of 72 Publicly-Listed Capital Markets Companies 0.76x
Hong Kong Market PB Ratio Median Figure of 2,137 Publicly-Listed Companies 0.99x
SEHK:6178 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SHSE:601788 Share Price ÷ Book Value per Share (both in CNY)

= 13.58 ÷ 10.58

1.28x

* Primary Listing of Everbright Securities.

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

  • Everbright Securities is overvalued based on assets compared to the HK Capital Markets industry average.
X
Value checks
We assess Everbright Securities'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. Everbright Securities has a total score of 0/6, 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.

6178 Future Performance

 How is Everbright Securities expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

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
24.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Everbright Securities expected to grow at an attractive rate?
  • Everbright Securities's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Everbright Securities's earnings growth is expected to exceed the Hong Kong market average.
  • Everbright Securities's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:6178 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:6178 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 24.4%
SEHK:6178 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 11.1%
Hong Kong Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 19.9%
Hong Kong Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 12.7%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 12.1%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.2%

*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:6178 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:6178 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 9,843 2,822 5
2019-12-31 8,915 2,488 5
2018-12-31 7,741 1,690 4
SEHK:6178 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-09-30 8,254 -38,660 1,924
2018-06-30 9,364 -40,544 2,748
2018-03-31 9,861 -29,223 3,161
2017-12-31 9,378 -42,076 3,016
2017-09-30 8,859 -17,901 2,896
2017-06-30 8,500 -27,837 2,736
2017-03-31 8,771 -34,543 3,004
2016-12-31 8,820 -19,646 3,013
2016-09-30 10,590 -32,436 4,033
2016-06-30 11,110 -35,706 4,283
2016-03-31 15,210 6,026 6,730
2015-12-31 16,563 543 7,647

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Everbright Securities's earnings are expected to grow significantly at over 20% yearly.
  • Everbright Securities's revenue is expected to grow by 11.1% 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:6178 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Everbright Securities Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:6178 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.63 0.70 0.57 4.00
2019-12-31 0.56 0.62 0.50 5.00
2018-12-31 0.38 0.49 0.29 5.00
SEHK:6178 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-09-30 0.42
2018-06-30 0.59
2018-03-31 0.69
2017-12-31 0.65
2017-09-30 0.63
2017-06-30 0.62
2017-03-31 0.71
2016-12-31 0.74
2016-09-30 1.03
2016-06-30 1.11
2016-03-31 1.82
2015-12-31 2.14

*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.
  • Everbright Securities is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Everbright Securities'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.
Everbright Securities has a total score of 4/6, 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.

6178 Past Performance

  How has Everbright Securities 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 Everbright Securities'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.
  • Everbright Securities's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Everbright Securities's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Everbright Securities's 1-year earnings growth is negative, it can't be compared to the HK Capital Markets industry average.
Earnings and Revenue History
Everbright Securities'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 Everbright Securities Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:6178 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 8,253.56 1,923.57 -4.92
2018-06-30 9,363.81 2,747.77 -4.92
2018-03-31 9,860.84 3,160.72 162.62
2017-12-31 9,378.00 3,016.47 -4.92
2017-09-30 8,858.60 2,896.36 -3,322.43
2017-06-30 8,500.28 2,735.80 -2,126.68
2017-03-31 8,771.06 3,003.51 229.94
2016-12-31 8,820.37 3,013.02 -15.99
2016-09-30 10,590.01 4,033.16 -750.17
2016-06-30 11,109.66 4,283.20 -736.87
2016-03-31 15,209.83 6,730.48 871.36
2015-12-31 16,562.60 7,646.52 -52.41
2015-09-30 15,494.10 7,169.42 4,073.57
2015-06-30 14,173.95 6,565.25 2,864.51
2015-03-31 8,855.24 3,351.13 69.37
2014-12-31 6,581.86 2,068.31 69.37
2014-09-30 4,535.65 594.51 3.49
2014-06-30 3,577.57 -224.03 3.49
2014-03-31 3,584.31 -101.21 3.49
2013-12-31 4,043.62 205.84 3.49
2013-09-30 3,773.36 554.03
2013-06-30 3,926.44 984.52
2013-03-31 4,052.76 1,199.36
2012-12-31 3,649.49 1,002.97
2012-09-30 3,656.90 1,128.39
2012-06-30 3,815.49 1,243.61
2012-03-31 3,983.40 1,321.80

*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.
  • Everbright Securities has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Everbright Securities used its assets less efficiently than the HK Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Everbright Securities improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Everbright Securities'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.
Everbright Securities has a total score of 1/6, 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.

6178 Health

 How is Everbright Securities'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 Everbright Securities's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Everbright Securities is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Everbright Securities's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Everbright Securities'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 1.6x 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 Everbright Securities Company Filings, last reported 5 months ago.

SEHK:6178 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 50,307.28 102,288.73 120,914.54
2018-06-30 49,979.61 104,497.62 105,756.56
2018-03-31 50,920.99 94,446.33 130,407.79
2017-12-31 50,022.67 100,431.00 96,169.88
2017-09-30 50,332.48 86,315.67 102,303.21
2017-06-30 49,270.71 78,534.13 100,948.41
2017-03-31 49,436.45 63,677.50 93,342.12
2016-12-31 48,636.66 64,535.52 90,575.68
2016-09-30 48,077.62 54,033.81 95,198.82
2016-06-30 39,762.31 56,666.29 100,115.99
2016-03-31 41,882.27 57,282.65 118,126.16
2015-12-31 42,423.62 69,168.61 104,137.96
2015-09-30 39,526.42 79,304.65 127,267.59
2015-06-30 31,507.79 94,434.11 129,600.94
2015-03-31 28,383.65 65,965.60 72,821.57
2014-12-31 26,620.31 43,911.62 48,923.18
2014-09-30 25,212.92 26,611.93 44,390.74
2014-06-30 24,266.28 23,218.43 37,010.33
2014-03-31 23,746.68 12,890.34 26,390.35
2013-12-31 23,606.03 7,207.47 26,013.29
2013-09-30 23,587.24 8,512.25 28,724.66
2013-06-30 22,876.07 13,572.08 33,538.51
2013-03-31 23,348.63 6,440.10 35,747.22
2012-12-31 22,909.53 13,005.05 30,500.67
2012-09-30 22,355.92 7,554.28 28,283.11
2012-06-30 22,560.19 7,562.39 29,149.66
2012-03-31 22,786.55 4,953.35 28,640.28
  • Everbright Securities's level of debt (203.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (36% vs 203.3% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Everbright Securities's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Everbright Securities'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. Everbright Securities 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.

6178 Dividends

 What is Everbright Securities'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
1.47%
Current annual income from Everbright Securities dividends. Estimated to be 1.28% next year.
If you bought HK$2,000 of Everbright Securities shares you are expected to receive HK$29 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?
  • Everbright Securities's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (1.98%).
  • Everbright Securities's dividend is below the markets top 25% of dividend payers in Hong Kong (5.33%).
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:6178 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 5 Analyst Estimates (S&P Global) See Below
Hong Kong Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.7%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 922 Stocks 3.4%
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:6178 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.18 2.00
2019-12-31 0.17 3.00
2018-12-31 0.14 4.00
SEHK:6178 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-05-15 0.200 1.926
2017-05-24 0.200 1.396
2016-05-10 0.600 3.685
2015-04-29 0.080 0.387
2014-03-25 0.020 0.169
2013-03-27 0.092 0.931
2012-08-01 0.262 2.098
2012-03-21 0.262 1.976
2012-01-19 0.262 2.261
2011-04-22 0.450 3.655
2011-01-28 0.450 2.885
2010-11-01 0.000 0.000
2010-08-16 0.000 0.000
2010-03-24 1.000 5.561
2010-01-08 1.000 3.690
2009-10-26 1.160 4.784
2009-08-25 1.160 4.962

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of Everbright Securities's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x 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 Everbright Securities'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 Everbright Securities afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Everbright Securities has a total score of 1/6, see the detailed checks below.


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

6178 Management

 What is the CEO of Everbright Securities'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
Jiannan Zhou
AGE 49
TENURE AS CEO 1.3 years
CEO Bio

Mr. Jiannan Zhou has been Executive President and Chief Executive Officer of Everbright Securities Company Ltd. since December 5, 2017. Mr. Zhou serves as Director of President Office of Shenzhen Stock Exchange and served as its Member of Executive Board.

CEO Compensation
  • Insufficient data for Jiannan to compare compensation growth.
  • Insufficient data for Jiannan to establish whether their remuneration is reasonable compared to companies of similar size in Hong Kong.
Management Team Tenure

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

3.6
Average Tenure
49
Average Age
  • The tenure for the Everbright Securities management team is about average.
Management Team

Feng Xue

TITLE
Chairman of the Board
COMPENSATION
CN¥3M
AGE
51

Jiannan Zhou

TITLE
CEO & Executive President
AGE
49
TENURE
1.3 yrs

Jun Yan

TITLE
Executive Director
AGE
48

Li Xin

TITLE
Chief Investment Officer
TENURE
2.5 yrs

Mannian He

TITLE
Head of Accounting Department

Lan Chen

TITLE
Chief Compliance Officer
COMPENSATION
CN¥2M
AGE
49
TENURE
10.3 yrs

Shiming Hu

TITLE
Assistant President
COMPENSATION
CN¥3M
TENURE
12.8 yrs

Yong Wang

TITLE
Chief Risk Officer
COMPENSATION
CN¥3M
AGE
54
TENURE
4.6 yrs

Maurice Ngai

TITLE
Company Secretary
AGE
56
TENURE
3.6 yrs

Qin Zhu

TITLE
Secretary to the Board
AGE
48
TENURE
2.1 yrs
Board of Directors Tenure

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

4.5
Average Tenure
53
Average Age
  • The tenure for the Everbright Securities board of directors is about average.
Board of Directors

Jun Yan

TITLE
Executive Director
AGE
48
TENURE
0.2 yrs

Jiping Liu

TITLE
Chairman of the Supervisory Committee
AGE
54
TENURE
13.8 yrs

Feng Xue

TITLE
Chairman of the Board
COMPENSATION
CN¥3M
AGE
51
TENURE
2.3 yrs

Zheping Li

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥125K
AGE
53
TENURE
5.2 yrs

Jingchang Xu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥125K
AGE
53
TENURE
4.5 yrs

Yan Xiong

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥125K
AGE
62
TENURE
4.5 yrs

Lianchen Yin

TITLE
Non-Executive Director
AGE
52
TENURE
4.5 yrs

Desmond Chan

TITLE
Non-Executive Director
AGE
49
TENURE
5.2 yrs

Sing Au

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥125K
AGE
66
TENURE
2.6 yrs

Hao Ju

TITLE
Non-Executive Director
AGE
59
TENURE
1.4 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$) Value (HK$)
20. Feb 19 Sell China Life Insurance Assets Management Co. Ltd. Company 14. Feb 19 14. Feb 19 -5,500,000 HK$7.32 HK$-40,234,682
20. Feb 19 Sell China Life Insurance Assets Management Co. Ltd. Company 13. Feb 19 13. Feb 19 -8,956,600 HK$7.36 HK$-65,896,408
03. Jul 18 Buy China Shipbuilding Industry Corporation Company 28. Jun 18 28. Jun 18 1,951,200 HK$9.29 HK$18,119,429
11. Jun 18 Buy China Shipbuilding Industry Corporation Company 06. Jun 18 06. Jun 18 889,000 HK$9.48 HK$8,427,721
24. Apr 18 Buy China Shipbuilding Industry Corporation Company 23. Apr 18 23. Apr 18 144,000 HK$8.93 HK$1,286,352
X
Management checks
We assess Everbright Securities'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. Everbright Securities 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.

6178 News

Simply Wall St News

6178 Company Info

Description

Everbright Securities Company Limited, together with its subsidiaries, engages in brokerage and wealth management, institutional securities service, investment management, and credit businesses in China and internationally. It provides margin financing and securities lending, collateralized stock repurchase transactions, and financial leasing services, as well as trades in securities; underwriting, financial advisory, investment research, and prime brokerage services to corporate and other institutional clients; and proprietary trading and market making services. The company also offers asset management, fund management, and private equity investment management services, as well as is involved in alternative investment activities. In addition, it provides securities investment advisory and sponsorship services; fund raising and sales activities; and futures investment consultation and distribution of publicly offered securities investment funds. Everbright Securities Company Limited was founded in 1996 and is based in Causeway Bay, Hong Kong.

Details
Name: Everbright Securities Company Limited
6178
Exchange: SEHK
Founded: 1996
CN¥67,870,455,534
4,610,787,639
Website: http://www.ebscn.com
Address: Everbright Securities Company Limited
33 Hysan Avenue,
24th Floor,
Causeway Bay,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SHSE 601788 Domestic Shares Shanghai Stock Exchange CN CNY 18. Aug 2009
XSSC 601788 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 18. Aug 2009
SEHK 6178 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 18. Aug 2016
SHSC 6178 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 18. Aug 2016
SZSC 6178 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 18. Aug 2016
Number of employees
Current staff
Staff numbers
8,978
Everbright Securities employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 12:53
End of day share price update: 2019/03/18 00:00
Last estimates confirmation: 2019/03/01
Last earnings filing: 2019/02/14
Last earnings reported: 2018/09/30
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.