Loading...

Health and Happiness (H&H) International Holdings

SEHK:1112
Snowflake Description

High growth potential with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1112
SEHK
HK$27B
Market Cap
  1. Home
  2. HK
  3. Food, Beverage & Tobacco
Company description

Health and Happiness (H&H) International Holdings Limited, an investment holding company, manufactures and sells family nutrition and baby care products in Mainland China, Australia, New Zealand, and internationally. The last earnings update was 79 days ago. More info.


Add to Portfolio Compare Print
1112 Share Price and Events
7 Day Returns
0.1%
SEHK:1112
3.4%
HK Food
1.1%
HK Market
1 Year Returns
-26.2%
SEHK:1112
-3.7%
HK Food
-15.4%
HK Market
1112 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Health and Happiness (H&H) International Holdings (1112) 0.1% -5.8% -12.8% -26.2% 63% -3.5%
HK Food 3.4% 0.4% 6.3% -3.7% 41.4% -12.3%
HK Market 1.1% -3.4% -8.1% -15.4% 21.3% 3.6%
1 Year Return vs Industry and Market
  • 1112 underperformed the Food industry which returned -3.7% over the past year.
  • 1112 underperformed the Market in Hong Kong which returned -15.4% over the past year.
Price Volatility
1112
Industry
5yr Volatility vs Market

1112 Value

 Is Health and Happiness (H&H) International Holdings 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 Health and Happiness (H&H) International Holdings 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 Health and Happiness (H&H) International Holdings.

SEHK:1112 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.3%
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:1112
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Food Unlevered Beta Simply Wall St/ S&P Global 0.55
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.545 (1 + (1- 25%) (24.7%))
0.763
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.8 * 6.65%)
7.32%

Discounted Cash Flow Calculation for SEHK:1112 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Health and Happiness (H&H) International Holdings 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:1112 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 7.32%)
2019 1,779.50 Analyst x5 1,658.08
2020 2,148.44 Analyst x5 1,865.25
2021 2,417.25 Analyst x4 1,955.43
2022 2,403.00 Analyst x1 1,811.27
2023 2,611.00 Analyst x1 1,833.76
2024 2,731.57 Est @ 4.62% 1,787.54
2025 2,836.29 Est @ 3.83% 1,729.42
2026 2,929.44 Est @ 3.28% 1,664.34
2027 3,014.39 Est @ 2.9% 1,595.75
2028 3,093.69 Est @ 2.63% 1,525.98
Present value of next 10 years cash flows CN¥17,426.82
SEHK:1112 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥3,093.69 × (1 + 2%) ÷ (7.32% – 2%)
CN¥59,316.91
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥59,316.91 ÷ (1 + 7.32%)10
CN¥29,258.39
SEHK:1112 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥17,426.82 + CN¥29,258.39
CN¥46,685.22
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥46,685.22 / 641.70
CN¥72.75
SEHK:1112 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1112)
1.13
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥72.75 x 1.13
HK$82.22
Value per share (HKD) From above. HK$82.22
Current discount Discount to share price of HK$42.55
= -1 x (HK$42.55 - HK$82.22) / HK$82.22
48.3%

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

Current Discount
Amount off the current price Health and Happiness (H&H) International Holdings is available for.
Intrinsic value
48%
Share price is HK$42.55 vs Future cash flow value of HK$82.22
Current Discount Checks
For Health and Happiness (H&H) International Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Health and Happiness (H&H) International Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Health and Happiness (H&H) International Holdings'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 Health and Happiness (H&H) International Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Health and Happiness (H&H) International Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1112 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥1.32
SEHK:1112 Share Price ** SEHK (2019-06-14) in HKD HK$42.55
SEHK:1112 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.885 CN¥37.65
Hong Kong Food Industry PE Ratio Median Figure of 40 Publicly-Listed Food Companies 15.19x
Hong Kong Market PE Ratio Median Figure of 1,488 Publicly-Listed Companies 10.77x

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

** Primary Listing of Health and Happiness (H&H) International Holdings.

SEHK:1112 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1112 Share Price ÷ EPS (both in CNY)

= 37.65 ÷ 1.32

28.47x

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

  • Health and Happiness (H&H) International Holdings is overvalued based on earnings compared to the HK Food industry average.
  • Health and Happiness (H&H) International Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Health and Happiness (H&H) International Holdings's expected growth come at a high price?
Raw Data
SEHK:1112 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 28.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
27.1%per year
Hong Kong Food Industry PEG Ratio Median Figure of 19 Publicly-Listed Food Companies 1.79x
Hong Kong Market PEG Ratio Median Figure of 466 Publicly-Listed Companies 0.77x

*Line of best fit is calculated by linear regression .

SEHK:1112 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 28.47x ÷ 27.1%

1.05x

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

  • Health and Happiness (H&H) International Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Health and Happiness (H&H) International Holdings's assets?
Raw Data
SEHK:1112 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥7.57
SEHK:1112 Share Price * SEHK (2019-06-14) in HKD HK$42.55
SEHK:1112 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.885 CN¥37.65
Hong Kong Food Industry PB Ratio Median Figure of 56 Publicly-Listed Food Companies 0.78x
Hong Kong Market PB Ratio Median Figure of 2,169 Publicly-Listed Companies 0.94x
SEHK:1112 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1112 Share Price ÷ Book Value per Share (both in CNY)

= 37.65 ÷ 7.57

4.97x

* Primary Listing of Health and Happiness (H&H) International Holdings.

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

  • Health and Happiness (H&H) International Holdings is overvalued based on assets compared to the HK Food industry average.
X
Value checks
We assess Health and Happiness (H&H) International Holdings'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 Food 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 Food industry average (and greater than 0)? (1 check)
  5. Health and Happiness (H&H) International Holdings has a total score of 2/6, 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.

1112 Future Performance

 How is Health and Happiness (H&H) International Holdings expected to perform in the next 1 to 3 years based on estimates from 12 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
27.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Health and Happiness (H&H) International Holdings expected to grow at an attractive rate?
  • Health and Happiness (H&H) International Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Health and Happiness (H&H) International Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Health and Happiness (H&H) International Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1112 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1112 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 27.1%
SEHK:1112 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 13.7%
Hong Kong Food Industry Earnings Growth Rate Market Cap Weighted Average 15.9%
Hong Kong Food Industry Revenue Growth Rate Market Cap Weighted Average 10%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.9%

*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:1112 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1112 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 15,289 2,512 2,109 8
2020-12-31 13,810 2,199 1,837 12
2019-12-31 11,849 1,931 1,442 12
SEHK:1112 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 10,132 1,697 843
2018-09-30 9,625 1,795 880
2018-06-30 9,118 1,894 916
2018-03-31 8,606 1,922 924
2017-12-31 8,095 1,951 933
2017-09-30 7,642 1,998 1,011
2017-06-30 7,049 1,768 999
2017-03-31 6,777 1,656 977
2016-12-31 6,506 1,543 954
2016-09-30 6,647 1,281 1,006
2016-06-30 5,864 770 403
2016-03-31 5,341 568 327

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Health and Happiness (H&H) International Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Health and Happiness (H&H) International Holdings's revenue is expected to grow by 13.7% 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:1112 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 12 Analyst Estimates (S&P Global) See Below

All data from Health and Happiness (H&H) International Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1112 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 3.30 3.72 2.63 7.00
2020-12-31 2.91 4.35 2.34 11.00
2019-12-31 2.26 2.60 2.04 11.00
SEHK:1112 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 1.32
2018-09-30 1.38
2018-06-30 1.44
2018-03-31 1.46
2017-12-31 1.48
2017-09-30 1.60
2017-06-30 1.59
2017-03-31 1.56
2016-12-31 1.52
2016-09-30 1.61
2016-06-30 0.65
2016-03-31 0.53

*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.
  • Health and Happiness (H&H) International Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Health and Happiness (H&H) International Holdings'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.
Health and Happiness (H&H) International Holdings has a total score of 5/6, 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.

1112 Past Performance

  How has Health and Happiness (H&H) International Holdings 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 Health and Happiness (H&H) International Holdings's growth in the last year to its industry (Food).
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.
  • Health and Happiness (H&H) International Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Health and Happiness (H&H) International Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Health and Happiness (H&H) International Holdings's 1-year earnings growth is negative, it can't be compared to the HK Food industry average.
Earnings and Revenue History
Health and Happiness (H&H) International Holdings'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 Health and Happiness (H&H) International Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1112 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 10,132.50 843.15 4,306.79
2018-09-30 9,625.00 879.54 4,027.51
2018-06-30 9,117.50 915.93 3,681.73
2018-03-31 8,606.42 924.39 3,406.48
2017-12-31 8,095.35 932.85 3,197.73
2017-09-30 7,642.30 1,010.66 2,809.35
2017-06-30 7,048.73 998.72 2,480.65
2017-03-31 6,777.17 976.56 2,394.79
2016-12-31 6,505.62 954.40 2,308.94
2016-09-30 6,647.41 1,006.46 2,407.89
2016-06-30 5,863.96 402.64 2,486.24
2016-03-31 5,341.26 326.66 2,339.39
2015-12-31 4,818.56 250.69 2,192.55
2015-09-30 4,129.15 103.06 1,965.50
2015-06-30 4,505.49 699.52 1,702.96
2015-03-31 4,618.53 753.15 1,733.00
2014-12-31 4,731.56 806.79 1,763.03
2014-09-30 4,710.18 821.11 1,796.91
2014-06-30 4,688.79 835.43 1,830.80
2014-03-31 4,625.05 828.07 1,760.58
2013-12-31 4,561.30 820.72 1,690.36
2013-09-30 4,320.97 793.70 1,552.87
2013-06-30 4,080.64 766.69 1,415.39
2013-03-31 3,731.27 754.90 1,304.99
2012-12-31 3,381.90 743.11 1,194.59
2012-09-30 3,033.06 674.38 1,073.79
2012-06-30 2,684.23 605.65 952.99

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

1112 Health

 How is Health and Happiness (H&H) International Holdings'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 Health and Happiness (H&H) International Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Health and Happiness (H&H) International Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Health and Happiness (H&H) International Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Health and Happiness (H&H) International Holdings'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 0.8x 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 Health and Happiness (H&H) International Holdings Company Filings, last reported 5 months ago.

SEHK:1112 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,849.55 5,966.94 1,915.92
2018-09-30 4,849.55 5,966.94 1,915.92
2018-06-30 4,460.55 5,930.29 1,993.03
2018-03-31 4,460.55 5,930.29 1,993.03
2017-12-31 4,213.09 6,335.54 2,094.66
2017-09-30 4,213.09 6,335.54 2,094.66
2017-06-30 3,765.13 6,761.20 1,936.47
2017-03-31 3,765.13 6,761.20 1,936.47
2016-12-31 3,196.10 6,759.67 2,012.21
2016-09-30 2,965.18 6,832.42 2,070.57
2016-06-30 4,154.20 6,796.58 1,563.04
2016-03-31 4,154.20 6,796.58 1,563.04
2015-12-31 3,602.24 7,399.51 1,201.40
2015-09-30
2015-06-30 2,958.11 2,590.32 3,999.17
2015-03-31 2,958.11 2,590.32 3,999.17
2014-12-31 2,917.09 2,410.53 3,348.36
2014-09-30 2,917.09 2,410.53 3,348.36
2014-06-30 2,539.85 2,919.13 2,750.05
2014-03-31 2,539.85 2,919.13 2,750.05
2013-12-31 2,515.59 750.61 1,664.70
2013-09-30 2,515.59 750.61 1,664.70
2013-06-30 2,203.73 405.15 1,575.45
2013-03-31 2,203.73 405.15 1,575.45
2012-12-31 2,322.65 270.53 1,669.91
2012-09-30 2,322.65 270.53 1,669.91
2012-06-30 1,929.29 81.52 1,636.37
  • Health and Happiness (H&H) International Holdings's level of debt (123%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (30.8% vs 123% today).
  • Debt is well covered by operating cash flow (28.4%, greater 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 Health and Happiness (H&H) International Holdings'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. Health and Happiness (H&H) International Holdings has a total score of 3/6, 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.

1112 Dividends

 What is Health and Happiness (H&H) International Holdings'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
1.09%
Current annual income from Health and Happiness (H&H) International Holdings dividends. Estimated to be 1.88% next year.
If you bought HK$2,000 of Health and Happiness (H&H) International Holdings shares you are expected to receive HK$22 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?
  • Health and Happiness (H&H) International Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.07%).
  • Health and Happiness (H&H) International Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.92%).
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:1112 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 12 Analyst Estimates (S&P Global) See Below
Hong Kong Food Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 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 5.9%

Industry and Market average data is calculated daily.

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

SEHK:1112 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.05 5.00
2020-12-31 0.69 9.00
2019-12-31 0.53 9.00
SEHK:1112 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-19 0.409 1.063
2017-01-23 0.000 0.000
2016-08-31 0.000 0.000
2016-08-23 0.000 0.000
2016-04-06 0.000 0.000
2016-03-29 0.000 0.000
2015-08-27 0.000 0.000
2015-08-18 0.000 0.000
2015-04-01 0.535 2.803
2014-04-02 0.953 4.634
2013-08-29 0.646 1.331
2013-03-27 0.851 2.597
2012-08-23 0.230 1.160
2012-03-21 0.437 2.789
2011-08-23 0.259 2.355
2011-03-29 0.164 1.362

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

  • Health and Happiness (H&H) International Holdings is not paying a notable dividend for Hong Kong, therefore no need to check if the payments are stable.
  • Health and Happiness (H&H) International Holdings is not paying a notable dividend for Hong Kong, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Health and Happiness (H&H) International Holdings's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Health and Happiness (H&H) International Holdings's dividends as it is not paying a notable one for Hong Kong.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess Health and Happiness (H&H) International Holdings'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 Health and Happiness (H&H) International Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Health and Happiness (H&H) International Holdings 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.

1112 Management

 What is the CEO of Health and Happiness (H&H) International Holdings'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
Albertini Garnier
COMPENSATION CN¥8,569,000
AGE 38
TENURE AS CEO 0.3 years
CEO Bio

Mrs. Laetitia Marie Edmee Jehanne E. P. Garnier, also known as Albertini has been the Chief Executive Officer of Health and Happiness (H&H) International Holdings Ltd since March 19, 2019 and has been its Executive Director since March 26, 2018. Mrs. Garnier served as the Chief Strategy Officer of Health and Happiness (H&H) International Holdings Ltd until March 19, 2019. She served as General Manager of Group Strategy & International Business Department at Health and Happiness (H&H) International Holdings Ltd since October 2015. Mrs. Garnier served as International Cooperation Director at Biostime International Holdings Limited (China). Mrs. Garnier is mainly responsible for the establishment and maintenance of Biostime's relationships with foreign entities. She joined Biostime International Holdings Limited in July 2010. From December 2003 to August 2010, she worked for French Trade Commission in South China and was mainly responsible for providing lobbying and operational support to French companies exporting and investing in China, especially in the field of consumer goods and health sectors. Prior to that, she also has interned with the United States Senate in Washington D.C. from January 2001 to June 2001, Banque Populaire Group in Paris from July 2001 to September 2001 and LVMH Group in Paris from September 2002 to March 2003. In July 2003, Mrs. Garnier obtained a Master's degree in Business Administration and Corporate Strategy from Institute of Political Studies in Paris.

CEO Compensation
  • Insufficient data for Albertini to compare compensation growth.
  • Albertini's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Health and Happiness (H&H) International Holdings management team in years:

2.4
Average Tenure
45
Average Age
  • The tenure for the Health and Happiness (H&H) International Holdings management team is about average.
Management Team

Fei Luo

TITLE
Chairman
COMPENSATION
CN¥14M
AGE
54

Albertini Garnier

TITLE
CEO & Executive Director
COMPENSATION
CN¥9M
AGE
38
TENURE
0.3 yrs

Yidong Wang

TITLE
CFO & Executive Director
COMPENSATION
CN¥8M
AGE
44
TENURE
3.1 yrs

Abel Benzakour

TITLE
Chief Operating Officer
AGE
54
TENURE
2.2 yrs

Patrice Malard

TITLE
CTO & Chief Scientific Officer
AGE
64
TENURE
7 yrs

Qizhang Zhang

TITLE
GM of the New Business Development Department & Acting Chief People Officer
AGE
34
TENURE
2 yrs

Oliver Horn

TITLE
Managing Director of H&H Group ANZ and North America
AGE
46
TENURE
2.4 yrs

Charles Ravel

TITLE
Managing Director of BNC International Division
AGE
42
TENURE
2.4 yrs

Tak Yee Wong

TITLE
Joint Company Secretary
AGE
61
TENURE
8.9 yrs

Wenyun Yang

TITLE
Director of the Listing Affairs & Risk Management and Joint Company Secretary
AGE
34
TENURE
8.9 yrs
Board of Directors Tenure

Average tenure and age of the Health and Happiness (H&H) International Holdings board of directors in years:

8.9
Average Tenure
55
Average Age
  • The tenure for the Health and Happiness (H&H) International Holdings board of directors is about average.
Board of Directors

Fei Luo

TITLE
Chairman
COMPENSATION
CN¥14M
AGE
54

Albertini Garnier

TITLE
CEO & Executive Director
COMPENSATION
CN¥9M
AGE
38
TENURE
1.3 yrs

Yidong Wang

TITLE
CFO & Executive Director
COMPENSATION
CN¥8M
AGE
44
TENURE
1.3 yrs

Maurice Ngai

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥890K
AGE
56
TENURE
8.9 yrs

Wee Seng Tan

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥890K
AGE
62
TENURE
8.9 yrs

Wenhui Zhang

TITLE
Non-Executive Director
COMPENSATION
CN¥120K
AGE
53
TENURE
9.1 yrs

Baichun Xiao

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥890K
AGE
70
TENURE
8.9 yrs

Yun Luo

TITLE
Non-Executive Director
COMPENSATION
CN¥120K
AGE
57
TENURE
9.1 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$) Value (HK$)
X
Management checks
We assess Health and Happiness (H&H) International Holdings'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. Health and Happiness (H&H) International Holdings 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.

1112 News

Simply Wall St News

What Does Health and Happiness (H&H) International Holdings Limited's (HKG:1112) P/E Ratio Tell You?

Check out our latest analysis for Health and Happiness (H&H) International Holdings How Do I Calculate Health and Happiness (H&H) International Holdings's Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) Or for Health and Happiness (H&H) International Holdings: P/E of 29.31 = CN¥38.75 (Note: this is the share price in the reporting currency, namely, CNY ) ÷ CN¥1.32 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … The Verdict On Health and Happiness (H&H) International Holdings's P/E Ratio Health and Happiness (H&H) International Holdings has a P/E of 29.3.

Simply Wall St -

Is Health and Happiness (H&H) International Holdings Limited's (HKG:1112) 17% ROE Better Than Average?

Check out our latest analysis for Health and Happiness (H&H) International Holdings How Do I Calculate Return On Equity? … The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Health and Happiness (H&H) International Holdings: 17% = CN¥843m ÷ CN¥4.8b (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Health and Happiness (H&H) International Holdings Have A Good Return On Equity?

Simply Wall St -

Health and Happiness (H&H) International Holdings Limited (HKG:1112): Does The Earnings Decline Make It An Underperformer?

After looking at Health and Happiness (H&H) International Holdings Limited's (HKG:1112) latest earnings update (31 December 2018), I found it helpful to revisit the company's performance in the past couple of years and compare this against the latest numbers. … However, its return on assets (ROA) of 8.3% exceeds the HK Food industry of 5.5%, indicating Health and Happiness (H&H) International Holdings has used its assets more efficiently. … You should continue to research Health and Happiness (H&H) International Holdings to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for 1112’s future growth?

Simply Wall St -

What Kind Of Shareholder Owns Most Health and Happiness (H&H) International Holdings Limited (HKG:1112) Stock?

The big shareholder groups in Health and Happiness (H&H) International Holdings Limited (HKG:1112) have power over the company. … Generally speaking, as a company grows, institutions will increase their ownership. … Health and Happiness (H&H) International Holdings has a market capitalization of HK$30b, so it's too big to fly under the radar.

Simply Wall St -

Is Health and Happiness (H&H) International Holdings Limited’s (HKG:1112) 19% ROCE Any Good?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

How Financially Strong Is Health and Happiness (H&H) International Holdings Limited (HKG:1112)?

Investors are always looking for growth in small-cap stocks like Health and Happiness (H&H) International Holdings Limited (HKG:1112), with a market cap of HK$31b. … Understanding the company's financial health becomes. … Let's work through some financial health checks you may wish to consider if you're interested in this stock.

Simply Wall St -

What Should Investors Know About The Future Of Health and Happiness (H&H) International Holdings Limited's (HKG:1112)?

In December 2018, Health and Happiness (H&H) International Holdings Limited (HKG:1112) announced its most recent earnings update, whicha

Simply Wall St -

Does Health and Happiness (H&H) International Holdings Limited's (HKG:1112) CEO Pay Compare Well With Peers?

The CEO of Health and Happiness (H&H) International Holdings Limited (HKG:1112) is Fei Luo. … According to our data, Health and Happiness (H&H) International Holdings Limited has a market capitalization of HK$31b, and pays its CEO total annual compensation worth CN¥9.6m. … While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at CN¥5.8m

Simply Wall St -

Did You Miss Health and Happiness (H&H) International Holdings's 96% Share Price Gain?

For example, the Health and Happiness (H&H) International Holdings Limited (HKG:1112) share price is up 96% in the last three years, clearly besting than the market return of around 56%. … Check out our latest analysis for Health and Happiness (H&H) International Holdings. … Health and Happiness (H&H) International Holdings was able to grow its EPS at 2.4% per year over three years, sending the share price higher.

Simply Wall St -

Can Health and Happiness (H&H) International Holdings Limited's (HKG:1112) ROE Continue To Surpass The Industry Average?

We'll use ROE to examine Health and Happiness (H&H) International Holdings Limited (HKG:1112), by way of a worked example. … Over the last twelve months Health and Happiness (H&H) International Holdings has recorded a ROE of 21%. … View our latest analysis for Health and Happiness (H&H) International Holdings?

Simply Wall St -

1112 Company Info

Description

Health and Happiness (H&H) International Holdings Limited, an investment holding company, manufactures and sells family nutrition and baby care products in Mainland China, Australia, New Zealand, and internationally. The company’s Infant Formulas segment produces infant formulas for children under seven years old and milk formulas for expectant and nursing mothers. Its Probiotic Supplements segment offers probiotic supplements in the form of sachets, capsules, and tablets for infants, children and expectant mothers. The company’s Adult Nutrition and Care Products segment provides vitamins, health supplements, and skin care and sports nutrition products for adults. Its Other Pediatric Products segment produces dried baby food and nutrition supplements, and baby care products. The company is also involved in the research, development, and processing of meat, fruit, and vegetable powder and candy; research, development, manufacture, and sale of health products and nutritional foods; sale of nutritional food, milk formulas, and personal care products for infants and adults; and wholesale, retail, import, and export of personal care products for infants. In addition, it engages in the manufacture of organic baby foods and baby care products; trading of infant food and nutritional products; early childhood education advisory business; financing and other businesses; and provision of online sales, software, and information technology services, as well as packaging, and digital media and advertising services. The company offers its products under the Biostime, Swisse, Healthy Times, and Dodie brands. The company was formerly known as Biostime International Holdings Limited and changed its name to Health and Happiness (H&H) International Holdings Limited in June 2017. The company was founded in 1999 and is headquartered in Quarry Bay, Hong Kong. Health and Happiness (H&H) International Holdings Limited is a subsidiary of Biostime Pharmaceuticals (China) Limited.

Details
Name: Health and Happiness (H&H) International Holdings Limited
1112
Exchange: SEHK
Founded: 1999
HK$27,304,535,538
641,704,713
Website: http://www.hh.global
Address: Health and Happiness (H&H) International Holdings Limited
One Island East,
Suites 4007-09, 40th Floor,
Quarry Bay,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1112 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 17. Dec 2010
OTCPK BTSD.F Ordinary Shares Pink Sheets LLC US USD 17. Dec 2010
DB 8BI Ordinary Shares Deutsche Boerse AG DE EUR 17. Dec 2010
SHSC 1112 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 17. Dec 2010
SZSC 1112 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 17. Dec 2010
Number of employees
Current staff
Staff numbers
2,800
Health and Happiness (H&H) International Holdings employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/15 12:57
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/13
Last earnings filing: 2019/03/28
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.