SEHK:322

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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 Analysis

Solid track record with adequate 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

Stable Share Price: 322 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-7.1%

322

0.6%

HK Food

0.8%

HK Market


1 Year Return

12.4%

322

13.6%

HK Food

6.9%

HK Market

Return vs Industry: 322 matched the Hong Kong Food industry which returned 13% over the past year.

Return vs Market: 322 exceeded the Hong Kong Market which returned 6.6% over the past year.


Shareholder returns

322IndustryMarket
7 Day-7.1%0.6%0.8%
30 Day-0.3%1.8%-0.5%
90 Day-4.2%13.6%9.8%
1 Year18.3%12.4%17.2%13.6%11.3%6.9%
3 Year35.8%22.5%46.5%34.7%3.3%-7.7%
5 Year10.7%-3.9%37.2%22.3%22.6%1.9%

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 compared to its fair value and its price relative to the market?

21.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 322 (HK$13.62) is trading below our estimate of fair value (HK$17.36)

Significantly Below Fair Value: 322 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 322 is poor value based on its PE Ratio (20.6x) compared to the HK Food industry average (11.2x).

PE vs Market: 322 is poor value based on its PE Ratio (20.6x) compared to the Hong Kong market (10.3x).


Price to Earnings Growth Ratio

PEG Ratio: 322 is poor value based on its PEG Ratio (5.6x)


Price to Book Ratio

PB vs Industry: 322 is overvalued based on its PB Ratio (3.5x) compared to the HK Food industry average (0.8x).


Next Steps

Future Growth

How is Tingyi (Cayman Islands) Holding forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?

3.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 322's forecast earnings growth (3.7% per year) is above the savings rate (1.6%).

Earnings vs Market: 322's earnings (3.7% per year) are forecast to grow slower than the Hong Kong market (18.7% per year).

High Growth Earnings: 322's earnings are forecast to grow, but not significantly.

Revenue vs Market: 322's revenue (4.2% per year) is forecast to grow slower than the Hong Kong market (11.4% per year).

High Growth Revenue: 322's revenue (4.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 322's Return on Equity is forecast to be low in 3 years time (17.7%).


Next Steps

Past Performance

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

9.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 322 has high quality earnings.

Growing Profit Margin: 322's current net profit margins (5.4%) are higher than last year (4.1%).


Past Earnings Growth Analysis

Earnings Trend: 322's earnings have grown by 9% per year over the past 5 years.

Accelerating Growth: 322's earnings growth over the past year (35.2%) exceeds its 5-year average (9% per year).

Earnings vs Industry: 322 earnings growth over the past year (35.2%) exceeded the Food industry 19.6%.


Return on Equity

High ROE: 322's Return on Equity (16.1%) is considered low.


Next Steps

Financial Health

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


Financial Position Analysis

Short Term Liabilities: 322's short term assets (CN¥25.4B) do not cover its short term liabilities (CN¥28.3B).

Long Term Liabilities: 322's short term assets (CN¥25.4B) exceed its long term liabilities (CN¥6.6B).


Debt to Equity History and Analysis

Debt Level: 322's debt to equity ratio (53.7%) is considered high.

Reducing Debt: 322's debt to equity ratio has reduced from 64.2% to 53.7% over the past 5 years.

Debt Coverage: 322's debt is well covered by operating cash flow (63.3%).

Interest Coverage: 322 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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

4.81%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 322's dividend (4.82%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.35%).

High Dividend: 322's dividend (4.82%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.76%).


Stability and Growth of Payments

Stable Dividend: 322's dividend payments have been volatile in the past 10 years.

Growing Dividend: 322's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49.8%), 322's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 322's dividends in 3 years are not forecast to be well covered by earnings (93.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.3yrs

Average board tenure


CEO

James Wei (63 yo)

5.58yrs

Tenure

CN¥27,671,000

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 ...


CEO Compensation Analysis

Compensation vs Market: James's total compensation ($USD3.98M) is above average for companies of similar size in the Hong Kong market ($USD853.97K).

Compensation vs Earnings: James's compensation has increased by more than 20% in the past year.


Board Members

NamePositionTenureCompensationOwnership
Hong-Ming Wei
Chairman of the Board1.58yrsCN¥10.00m0.089%
CN¥ 68.1m
Junichiro Ida
Vice Chairman6.75yrsCN¥773.00kno data
Koji Shinohara
Executive Director5.25yrsCN¥566.00kno data
Hong-Chen Wei
Executive Director1.58yrsCN¥9.34m0.063%
CN¥ 47.9m
Yuko Takahashi
Executive Director1yrCN¥282.00kno data
Chien Tseng
Executive Director0.67yrno datano data
Tiong-Hock Lee
Independent Non-Executive Director15.92yrsCN¥455.00kno data
Shin-Chun Hsu
Independent Non-Executive Director20.83yrsCN¥455.00kno data
Hiromu Fukada
Independent Non-Executive Director8.58yrsCN¥455.00kno data

5.3yrs

Average Tenure

58yo

Average Age

Experienced Board: 322's board of directors are considered experienced (5.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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$76.599b
  • Shares outstanding: 5.62b
  • Website: https://www.masterkong.com.cn

Number of Employees


Location

  • Tingyi (Cayman Islands) Holding Corp.
  • Building A
  • No. 1688, Wuzhong Road
  • Shanghai
  • Shanghai Province
  • 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 Analysis2020/08/14 19:29
End of Day Share Price2020/08/14 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.