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China Qinfa Group

SEHK:866
Snowflake Description

Good value with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
866
SEHK
HK$661M
Market Cap
  1. Home
  2. HK
  3. Energy
Company description

China Qinfa Group Limited, an investment holding company, engages in the mining, purchase and sale, filtering, storage, blending, shipping, and transportation of coal in the People’s Republic of China. The last earnings update was 51 days ago. More info.


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  • China Qinfa Group has significant price volatility in the past 3 months.
866 Share Price and Events
7 Day Returns
-7%
SEHK:866
0.1%
HK Oil and Gas
0.5%
HK Market
1 Year Returns
-52.7%
SEHK:866
-24.4%
HK Oil and Gas
-15.9%
HK Market
866 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Qinfa Group (866) -7% -11.7% -34.6% -52.7% - -23.2%
HK Oil and Gas 0.1% -7.6% -17.2% -24.4% -1.1% -42.5%
HK Market 0.5% -4% -8.6% -15.9% 20.6% 3%
1 Year Return vs Industry and Market
  • 866 underperformed the Oil and Gas industry which returned -24.4% over the past year.
  • 866 underperformed the Market in Hong Kong which returned -15.9% over the past year.
Price Volatility
866
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for China Qinfa Group's competitors could be found in our database.

866 Value

 Is China Qinfa Group 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 Qinfa Group 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 Qinfa Group.

SEHK:866 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 13.9%
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:866
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.908 (1 + (1- 25%) (768.56%))
4.446
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (2 * 5.96%)
13.92%

Discounted Cash Flow Calculation for SEHK:866 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China Qinfa Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:866 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 13.92%)
2019 453.34 Est @ 87.91% 397.93
2020 735.04 Est @ 62.14% 566.35
2021 1,059.18 Est @ 44.1% 716.36
2022 1,392.50 Est @ 31.47% 826.70
2023 1,707.61 Est @ 22.63% 889.88
2024 1,988.37 Est @ 16.44% 909.56
2025 2,229.17 Est @ 12.11% 895.08
2026 2,431.53 Est @ 9.08% 857.02
2027 2,600.66 Est @ 6.96% 804.60
2028 2,742.91 Est @ 5.47% 744.90
Present value of next 10 years cash flows CN¥7,608.38
SEHK:866 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥2,742.91 × (1 + 2%) ÷ (13.92% – 2%)
CN¥23,471.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥23,471.86 ÷ (1 + 13.92%)10
CN¥6,374.31
SEHK:866 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥7,608.38 + CN¥6,374.31
CN¥13,982.70
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥13,982.70 / 2,493.41
CN¥5.61
SEHK:866 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:866)
1.13
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥5.61 x 1.13
HK$6.34
Value per share (HKD) From above. HK$6.34
Current discount Discount to share price of HK$0.27
= -1 x (HK$0.27 - HK$6.34) / HK$6.34
95.8%

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

Current Discount
Amount off the current price China Qinfa Group is available for.
Intrinsic value
>50%
Share price is HK$0.27 vs Future cash flow value of HK$6.34
Current Discount Checks
For China Qinfa Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Qinfa Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China Qinfa Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for China Qinfa Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Qinfa Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:866 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.60
SEHK:866 Share Price ** SEHK (2019-06-14) in HKD HK$0.27
SEHK:866 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.885 CN¥0.23
Hong Kong Oil and Gas Industry PE Ratio Median Figure of 27 Publicly-Listed Oil and Gas Companies 9.43x
Hong Kong Market PE Ratio Median Figure of 1,487 Publicly-Listed Companies 10.68x

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

** Primary Listing of China Qinfa Group.

SEHK:866 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:866 Share Price ÷ EPS (both in CNY)

= 0.23 ÷ 0.60

0.39x

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

  • China Qinfa Group is good value based on earnings compared to the HK Oil and Gas industry average.
  • China Qinfa Group is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does China Qinfa Group's expected growth come at a high price?
Raw Data
SEHK:866 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 0.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Hong Kong Oil and Gas Industry PEG Ratio Median Figure of 11 Publicly-Listed Oil and Gas Companies 0.75x
Hong Kong Market PEG Ratio Median Figure of 466 Publicly-Listed Companies 0.76x

*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 Qinfa Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on China Qinfa Group's assets?
Raw Data
SEHK:866 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥-0.17
SEHK:866 Share Price * SEHK (2019-06-14) in HKD HK$0.27
SEHK:866 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.885 CN¥0.23
Hong Kong Oil and Gas Industry PB Ratio Median Figure of 45 Publicly-Listed Oil and Gas Companies 0.94x
Hong Kong Market PB Ratio Median Figure of 2,169 Publicly-Listed Companies 0.93x
SEHK:866 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:866 Share Price ÷ Book Value per Share (both in CNY)

= 0.23 ÷ -0.17

-1.37x

* Primary Listing of China Qinfa Group.

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

  • China Qinfa Group has negative assets, we can't compare the value of its assets to the HK Oil and Gas industry average.
X
Value checks
We assess China Qinfa Group'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 Oil and Gas 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 Oil and Gas industry average (and greater than 0)? (1 check)
  5. China Qinfa Group has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

866 Future Performance

 How is China Qinfa Group expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 China Qinfa Group 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
8%
Expected Oil and Gas industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Qinfa Group expected to grow at an attractive rate?
  • Unable to compare China Qinfa Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare China Qinfa Group's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare China Qinfa Group's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:866 Future Growth Rates Data Sources
Data Point Source Value (per year)
Hong Kong Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 8%
Hong Kong Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.2%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.7%

*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:866 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:866 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 3,653 568 1,500
2018-09-30 3,571 402 2,299
2018-06-30 3,489 236 3,104
2018-03-31 3,247 215 3,131
2017-12-31 3,006 194 3,153
2017-09-30 2,444 235 1,706
2017-06-30 1,881 276 258
2017-03-31 1,299 106 -39
2016-12-31 716 -64 -336
2016-09-30 708 -3,076
2016-06-30 701 -183 -5,817
2016-03-31 1,039 -47 -5,914

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if China Qinfa Group is high growth as no earnings estimate data is available.
  • Unable to determine if China Qinfa Group is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:866 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 0 Analyst Estimates (S&P Global) See Below

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

SEHK:866 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.60
2018-09-30 0.92
2018-06-30 1.24
2018-03-31 1.26
2017-12-31 1.26
2017-09-30 0.67
2017-06-30 0.10
2017-03-31 -0.02
2016-12-31 -0.13
2016-09-30 -1.31
2016-06-30 -2.62
2016-03-31 -2.72

*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 Qinfa Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether China Qinfa Group is trading at China Qinfa Group'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. China Qinfa Group's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Energy companies here
  3. China Qinfa Group's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess China Qinfa Group'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 Qinfa Group has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

866 Past Performance

  How has China Qinfa Group 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 Qinfa Group's growth in the last year to its industry (Oil and Gas).
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 Qinfa Group has delivered over 20% year on year earnings growth in the past 5 years.
  • China Qinfa Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • China Qinfa Group's 1-year earnings growth is negative, it can't be compared to the HK Oil and Gas industry average.
Earnings and Revenue History
China Qinfa Group'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 Qinfa Group Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:866 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,652.87 1,499.54 356.00
2018-09-30 3,570.97 2,299.19 242.82
2018-06-30 3,489.06 3,103.87 129.64
2018-03-31 3,247.37 3,131.11 106.55
2017-12-31 3,005.67 3,153.33 83.46
2017-09-30 2,443.52 1,705.80 138.86
2017-06-30 1,881.37 258.27 194.26
2017-03-31 1,298.78 -38.65 193.01
2016-12-31 716.19 -335.57 191.76
2016-09-30 708.39 -3,076.13 702.52
2016-06-30 700.60 -5,816.68 710.80
2016-03-31 1,038.90 -5,914.10 726.18
2015-12-31 1,377.21 -6,011.52 741.57
2015-09-30 2,144.77 -3,726.60 263.19
2015-06-30 2,873.50 -1,442.93 291.28
2015-03-31 4,661.47 -1,314.96 306.50
2014-12-31 6,449.45 -1,186.98 321.73
2014-09-30 8,666.57 -898.26 389.02
2014-06-30 10,844.86 -606.15 460.29
2014-03-31 10,837.49 -429.27 476.51
2013-12-31 10,830.13 -252.40 492.73
2013-09-30 10,725.37 -62.97 480.16
2013-06-30 10,620.62 126.47 467.58
2013-03-31 10,852.95 192.11 487.33
2012-12-31 11,085.29 257.75 507.07
2012-09-30 10,946.75 298.08 460.31
2012-06-30 10,808.21 338.41 413.55

*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.
  • Whilst China Qinfa Group made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • China Qinfa Group used its assets more efficiently than the HK Oil and Gas industry average last year based on Return on Assets.
  • It is difficult to establish if China Qinfa Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess China Qinfa Group'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 Oil and Gas 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 Qinfa Group has a total score of 2/6, 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.

866 Health

 How is China Qinfa Group'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 Qinfa Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Qinfa Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • China Qinfa Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of China Qinfa Group'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x 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 Qinfa Group Company Filings, last reported 5 months ago.

SEHK:866 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 482.85 4,493.39 115.68
2018-09-30 482.85 4,493.39 115.68
2018-06-30 -1,094.81 5,965.75 134.12
2018-03-31 -1,094.81 5,965.75 134.12
2017-12-31 -1,204.62 6,045.89 80.35
2017-09-30 -1,204.62 6,045.89 80.35
2017-06-30 -4,770.37 6,025.39 135.10
2017-03-31 -4,770.37 6,025.39 135.10
2016-12-31 -4,921.31 6,043.27 24.71
2016-09-30 -4,921.31 6,043.27 24.71
2016-06-30 -5,104.82 6,024.33 127.90
2016-03-31 -5,104.82 6,024.33 127.90
2015-12-31 -4,629.40 5,905.32 20.67
2015-09-30 -4,629.40 5,905.32 20.67
2015-06-30 1,544.38 6,117.10 210.61
2015-03-31 1,544.38 6,117.10 210.61
2014-12-31 2,366.34 7,651.90 53.86
2014-09-30 2,366.34 7,651.90 53.86
2014-06-30 3,339.77 10,092.93 358.58
2014-03-31 3,339.77 10,092.93 358.58
2013-12-31 3,690.64 9,058.10 483.31
2013-09-30 3,690.64 9,058.10 483.31
2013-06-30 3,848.28 8,863.83 719.03
2013-03-31 3,848.28 8,863.83 719.03
2012-12-31 3,888.67 7,640.27 1,190.54
2012-09-30 3,888.67 7,640.27 1,190.54
2012-06-30 3,561.37 7,115.15 1,020.99
  • China Qinfa Group's level of debt (930.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (246% vs 930.6% today).
  • Debt is not well covered by operating cash flow (12.6%, less than 20% of total debt).
  • Unable to confirm if the interest payments on China Qinfa Group's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess China Qinfa Group'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 Qinfa Group has a total score of 0/6, 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.

866 Dividends

 What is China Qinfa Group'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
0%
Current annual income from China Qinfa Group dividends.
If you bought HK$2,000 of China Qinfa Group shares you are expected to receive HK$0 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?
  • Unable to evaluate China Qinfa Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate China Qinfa Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:866 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Hong Kong Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 6.2%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 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 6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:866 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2015-04-28 0.000 0.000
2015-03-31 0.000 0.000
2014-09-29 0.000 0.000
2014-09-01 0.000 0.000
2014-04-28 0.000 0.000
2014-03-31 0.000 0.000
2013-09-27 0.016 3.425
2013-08-29 0.016 3.151
2013-06-07 0.024 4.758

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

  • Unable to perform a dividend volatility check as China Qinfa Group has not reported any payouts.
  • Unable to verify if China Qinfa Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of China Qinfa Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as China Qinfa Group has not reported any payouts.
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 China Qinfa Group'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 Qinfa Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Qinfa Group has a total score of 0/6, see the detailed checks below.


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

866 Management

 What is the CEO of China Qinfa Group'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
Tao Bai
COMPENSATION CN¥3,915,000
AGE 35
TENURE AS CEO 4.4 years
CEO Bio

Mr. Tao Bai has been the Chief Executive Officer of China Qinfa Group Limited since December 10, 2015 and serves as its President. Mr. Bai serves as Vice President of the Group and the General Manager of Zhuhau Hengqin Coal Exchange Centre. Mr. Bai has been an Executive Director of China Qinfa Group Limited since October 19, 2014. Mr. Bai has more than 5 years of working experience in construction project management. He joined the Group as General Manager of Zhuhau Hengqin Coal Exchange Centre in 2012. Prior to joining the Group, Mr. Bai worked as a manager of engineering management department in a company listed in the Shanghai Stock. Mr. Bai Graduated from Cardiff University with a Bachelor's and Master Degree in Civil Engineering.

CEO Compensation
  • Tao's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Tao's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Da Xu

TITLE
Executive Chairman
COMPENSATION
CN¥4M
AGE
34

Tao Bai

TITLE
CEO, President & Executive Director
COMPENSATION
CN¥4M
AGE
35
TENURE
4.4 yrs

Wai Shing Fung

TITLE
CFO & Executive Director
COMPENSATION
CN¥4M
AGE
48
TENURE
4.8 yrs

Jianfei Wang

TITLE
Executive Director
COMPENSATION
CN¥2M
AGE
47

Dennis Or

TITLE
Company Secretary
AGE
30
Board of Directors Tenure

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

3.4
Average Tenure
48
Average Age
  • The tenure for the China Qinfa Group board of directors is about average.
Board of Directors

Da Xu

TITLE
Executive Chairman
COMPENSATION
CN¥4M
AGE
34
TENURE
3.4 yrs

Tao Bai

TITLE
CEO, President & Executive Director
COMPENSATION
CN¥4M
AGE
35
TENURE
5.4 yrs

Wai Shing Fung

TITLE
CFO & Executive Director
COMPENSATION
CN¥4M
AGE
48
TENURE
2.2 yrs

Jianfei Wang

TITLE
Executive Director
COMPENSATION
CN¥2M
AGE
47
TENURE
11.1 yrs

Sik Yuen Lau

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥327K
AGE
51
TENURE
10 yrs

Zhenquan Sha

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥63K
AGE
58
TENURE
0.8 yrs

Dacheng Jing

TITLE
Independent Non-Executive Director
AGE
69
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by China Qinfa Group insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
08. May 19 Buy Tao Bai Individual 06. May 19 06. May 19 50,000,000 HK$0.32 HK$16,000,077
08. May 19 Buy Da Xu Individual 06. May 19 06. May 19 48,000,000 HK$0.32 HK$15,360,074
X
Management checks
We assess China Qinfa Group'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 Qinfa Group 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.

866 News

Simply Wall St News

Do Directors Own China Qinfa Group Limited (HKG:866) Shares?

If you want to know who really controls China Qinfa Group Limited (HKG:866), then you'll have to look at the makeup of its share registry. … Insider Ownership Of China Qinfa Group The definition of company insiders can be subjective, and does vary between jurisdictions. … It seems that insiders own more than half the China Qinfa Group Limited stock.

Simply Wall St -

Is China Qinfa Group Limited's (HKG:866) CEO Paid Enough Relative To Peers?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Tao Bai's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that China Qinfa Group Limited has a market cap of HK$985m, and is paying total annual CEO compensation of CN¥2.3m.

Simply Wall St -

The China Qinfa Group Share Price Is Up 63% And Shareholders Are Holding On

For example, the China Qinfa Group Limited (HKG:866) share price is up 63% in the last three years, clearly besting than the market return of around 33% (not including dividends). … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers)

Simply Wall St -

Who Owns Most Of China Qinfa Group Limited (HKG:866)?

Today, I will be analyzing China Qinfa Group Limited’s (HKG:866) recent ownership structure, an important but not-so-popular subject among individual investors. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders. … Therefore, it is beneficial for us to examine 866's ownership structure in more detail.

Simply Wall St -

866 Company Info

Description

China Qinfa Group Limited, an investment holding company, engages in the mining, purchase and sale, filtering, storage, blending, shipping, and transportation of coal in the People’s Republic of China. As of December 31, 2018, the company owned and operated five coal mines. It is also involved in goods transportation and logistics, and charter hire activities. The company was founded in 1996 and is based in Guangzhou, the People’s Republic of China. China Qinfa Group Limited is a subsidiary of Fortune Pearl International Limited.

Details
Name: China Qinfa Group Limited
866
Exchange: SEHK
Founded: 1996
HK$660,754,706
2,493,413,985
Website: http://www.qinfagroup.com
Address: China Qinfa Group Limited
South Tower,
Unit Nos. 2201 to 2208, Level 22,
Guangzhou,
Guangdong Province, China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 866 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 03. Jul 2009
Number of employees
Current staff
Staff numbers
2,237
China Qinfa Group employees.
Industry
Coal and Consumable Fuels
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 12:52
End of day share price update: 2019/06/14 00:00
Last earnings filing: 2019/04/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.