SEHK:322

Stock Analysis Report

Tingyi (Cayman Islands) Holding

Executive Summary

Tingyi (Cayman Islands) Holding Corp., an investment holding company, engages in the manufacture and sale of instant noodles, beverages, and instant food products in the People’s Republic of China.

Snowflake

Fundamentals

Acceptable track record with mediocre balance sheet.


Similar Companies

Share Price & News

How has Tingyi (Cayman Islands) Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.3%

SEHK:322

-1.3%

HK Food

-0.6%

HK Market


1 Year Return

-20.7%

SEHK:322

6.8%

HK Food

-9.8%

HK Market

322 underperformed the Food industry which returned 6.4% over the past year.

322 underperformed the Market in Hong Kong which returned -9.8% over the past year.


Share holder returns

322IndustryMarket
7 Day1.3%-1.3%-0.6%
30 Day-6.2%-7.0%-8.8%
90 Day-3.2%-4.0%-8.4%
1 Year-17.4%-20.7%9.2%6.8%-6.5%-9.8%
3 Year79.4%68.1%48.7%38.5%12.8%1.6%
5 Year-39.4%-45.7%-7.6%-16.1%7.2%-10.6%

Price Volatility Vs. Market

How volatile is Tingyi (Cayman Islands) Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Tingyi (Cayman Islands) Holding undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Tingyi (Cayman Islands) Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).

Tingyi (Cayman Islands) Holding's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Tingyi (Cayman Islands) Holding is overvalued based on earnings compared to the HK Food industry average.

Tingyi (Cayman Islands) Holding is overvalued based on earnings compared to the Hong Kong market.


Price Based on Expected Growth

Tingyi (Cayman Islands) Holding is poor value based on expected growth next year.


Price Based on Value of Assets

Tingyi (Cayman Islands) Holding is overvalued based on assets compared to the HK Food industry average.


Next Steps

Future Growth

How is Tingyi (Cayman Islands) Holding expected to perform in the next 1 to 3 years based on estimates from 22 analysts?

8.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Tingyi (Cayman Islands) Holding's revenue is expected to grow by 5% yearly, however this is not considered high growth (20% yearly).

Tingyi (Cayman Islands) Holding's earnings are expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).

Tingyi (Cayman Islands) Holding's revenue growth is positive but not above the Hong Kong market average.

Tingyi (Cayman Islands) Holding's earnings growth is positive but not above the Hong Kong market average.

Tingyi (Cayman Islands) Holding's earnings growth is expected to exceed the low risk savings rate of 2%.


Earnings per Share Growth Estimates


Future Return on Equity

Tingyi (Cayman Islands) Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Tingyi (Cayman Islands) Holding performed over the past 5 years?

-5.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Tingyi (Cayman Islands) Holding's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.

Tingyi (Cayman Islands) Holding's 1-year earnings growth exceeds its 5-year average (35.4% vs -5.5%)

Tingyi (Cayman Islands) Holding's earnings growth has exceeded the HK Food industry average in the past year (35.4% vs 8.8%).


Return on Equity

Tingyi (Cayman Islands) Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Tingyi (Cayman Islands) Holding used its assets less efficiently than the HK Food industry average last year based on Return on Assets.


Return on Capital Employed

Tingyi (Cayman Islands) Holding has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Tingyi (Cayman Islands) Holding's financial position?


Financial Position Analysis

Tingyi (Cayman Islands) Holding's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Tingyi (Cayman Islands) Holding's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Tingyi (Cayman Islands) Holding's level of debt (45.9%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (42.7% vs 45.9% today).

Debt is well covered by operating cash flow (64.3%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 56.9x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.9x debt.


Next Steps

Dividend

What is Tingyi (Cayman Islands) Holding's current dividend yield, its reliability and sustainability?

3.54%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Tingyi (Cayman Islands) Holding's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.28%).

Tingyi (Cayman Islands) Holding's dividend is below the markets top 25% of dividend payers in Hong Kong (6.25%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.3x coverage).


Next Steps

Management

What is the CEO of Tingyi (Cayman Islands) Holding's salary, the management and board of directors tenure and is there insider trading?

5.0yrs

Average board tenure


CEO

James Wei (62yo)

4.6yrs

Tenure

CN¥20,719,000

Compensation

Mr. Chun-Hsien Wei, also known as James has been the Chief Executive Officer of Tingyi Cayman Islands Holding Corp. since January 1, 2015 and served as its Chief Executive Officer of Food Business since Ja ...


CEO Compensation Analysis

James's remuneration is higher than average for companies of similar size in Hong Kong.

James's compensation has been consistent with company performance over the past year, both up more than 20%.


Board Age and Tenure

5.0yrs

Average Tenure

57yo

Average Age

The tenure for the Tingyi (Cayman Islands) Holding board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyHK$200,40028 Dec 18
Chin-Tang Lin
EntityIndividual
Role
Executive Director
Member of the Board of Directors
Shares20,000
Max PriceHK$10.02
BuyHK$49,550,01228 Dec 18
Hong-Ming Wei
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares5,000,000
Max PriceHK$9.91
BuyHK$208,80021 Dec 18
Chin-Tang Lin
EntityIndividual
Role
Executive Director
Member of the Board of Directors
Shares20,000
Max PriceHK$10.44
BuyHK$209,60030 Nov 18
Chin-Tang Lin
EntityIndividual
Role
Executive Director
Member of the Board of Directors
Shares20,000
Max PriceHK$10.48
BuyHK$278,40028 Sep 18
Chin-Tang Lin
EntityIndividual
Role
Executive Director
Member of the Board of Directors
Shares20,000
Max PriceHK$13.92
BuyHK$278,80028 Sep 18
Chin-Tang Lin
EntityIndividual
Role
Executive Director
Member of the Board of Directors
Shares20,000
Max PriceHK$13.94

Ownership Breakdown


Management Team

  • Joey Chen (55yo)

    Chief Customer & Marketing Officer

  • Jammy Xu (60yo)

    Chief of Administrative Officer

  • Kuo Liu (48yo)

    Chief Financial Officer

  • Walt Wu (58yo)

    Chief Human Resources Officer

  • Wilson Wu (62yo)

    Chief Auditor

  • James Wei (62yo)

    Chief Executive Officer

    • Tenure: 4.6yrs
    • Compensation: CN¥20.72m
  • Chin-Tang Lin (69yo)

    Executive Director

    • Compensation: CN¥968.00k
  • Koji Shinohara (51yo)

    Executive Director

    • Compensation: CN¥968.00k
  • Junichiro Ida (57yo)

    Vice Chairman

    • Compensation: CN¥1.17m
  • Hong-Ming Wei (41yo)

    Chairman of the Board

    • Compensation: CN¥10.36m

Board Members

  • Hong-Chen Wei (36yo)

    Executive Director

    • Tenure: 0.6yrs
  • Yuko Takahashi (56yo)

    Executive Director

  • Hiromu Fukada (90yo)

    Independent Non-Executive Director

    • Tenure: 7.6yrs
    • Compensation: CN¥438.00k
  • Chin-Tang Lin (69yo)

    Executive Director

    • Tenure: 2.0yrs
    • Compensation: CN¥968.00k
  • Koji Shinohara (51yo)

    Executive Director

    • Tenure: 4.3yrs
    • Compensation: CN¥968.00k
  • Junichiro Ida (57yo)

    Vice Chairman

    • Tenure: 5.8yrs
    • Compensation: CN¥1.17m
  • Hong-Ming Wei (41yo)

    Chairman of the Board

    • Tenure: 0.6yrs
    • Compensation: CN¥10.36m
  • Tiong-Hock Lee (79yo)

    Independent Non-Executive Director

    • Tenure: 14.9yrs
    • Compensation: CN¥412.00k
  • Shin-Chun Hsu (63yo)

    Independent Non-Executive Director

    • Tenure: 19.8yrs
    • Compensation: CN¥438.00k

Company Information

Tingyi (Cayman Islands) Holding Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tingyi (Cayman Islands) Holding Corp.
  • Ticker: 322
  • Exchange: SEHK
  • Founded: 1992
  • Industry: packaged foods and meats
  • Sector: food, beverage & tobacco
  • Market Cap: HK$68.155b
  • Shares outstanding: 5.62b
  • Website: Click here

Number of Employees


Location

  • Tingyi (Cayman Islands) Holding Corp.
  • No. 1688, Wuzhong Road
  • Minhang District
  • Shanghai
  • 201103
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
322SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDFeb 1996
TYGDB (Deutsche Boerse AG)YesOrdinary SharesDEEURFeb 1996
TCYM.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDFeb 1996
322SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDFeb 1996
322SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDFeb 1996
TCYM.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDJan 2006
910322TSEC (Taiwan Stock Exchange)TDR EACH REPR 1/2 SHTWTWDDec 2009

Biography

Tingyi (Cayman Islands) Holding Corp., an investment holding company, engages in the manufacture and sale of instant noodles, beverages, and instant food products in the People’s Republic of China. It oper ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/17 12:37
End of Day Share Price2019/08/16 00:00
Earnings2018/12/31
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.