China Resources Medical Holdings
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China Resources Medical Holdings Company Limited, an investment holding company, provides general healthcare, and hospital management and consulting services in the People’s Republic of China. The last earnings update was 190 days ago. More info.
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1515 Share Price and Events
7 Day Returns
1 Year Returns
1515 Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| China Resources Medical Holdings (1515) | 2% | 1.7% | 11.5% | -43% | -25.2% | -53.5% |
| HK Healthcare | -1.1% | -4.2% | 10.5% | 18.5% | 53.4% | 98.2% |
| HK Market | 1.7% | 3.7% | 14.2% | -9.5% | 29.3% | 20.7% |
1 Year Return vs Industry and Market
- 1515 underperformed the Healthcare industry which returned 18.5% over the past year.
- 1515 underperformed the Market in Hong Kong which returned -9.5% over the past year.
Value
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 Resources Medical 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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for China Resources Medical Holdings.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 7 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year HK Govt Bond Rate | 2% |
| Equity Risk Premium | S&P Global | 6% |
| Healthcare Unlevered Beta | Simply Wall St/ S&P Global | 0.73 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 25%) (4.21%)) |
0.836 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.84 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.836 * 5.96%) |
6.99% |
Discounted Cash Flow Calculation for SEHK:1515 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for China Resources Medical 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.
| Levered FCF (CNY, Millions) | Source |
Present Value Discounted (@ 6.99%) |
|
|---|---|---|---|
| 2019 | 525.00 | Analyst x1 | 490.71 |
| 2020 | 596.00 | Analyst x1 | 520.68 |
| 2021 | 651.72 | Est @ 9.35% | 532.17 |
| 2022 | 698.29 | Est @ 7.15% | 532.95 |
| 2023 | 737.42 | Est @ 5.6% | 526.05 |
| 2024 | 770.77 | Est @ 4.52% | 513.93 |
| 2025 | 799.80 | Est @ 3.77% | 498.45 |
| 2026 | 825.70 | Est @ 3.24% | 480.98 |
| 2027 | 849.37 | Est @ 2.87% | 462.45 |
| 2028 | 871.52 | Est @ 2.61% | 443.52 |
| Present value of next 10 years cash flows | CN¥5,001.91 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= CN¥871.52 × (1 + 2%) ÷ (6.99% – 2%) |
CN¥17,831.72 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= CN¥17,831.72 ÷ (1 + 6.99%)10 |
CN¥9,074.59 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= CN¥5,001.91 + CN¥9,074.59 |
CN¥14,076.50 |
| Equity Value per Share (CNY) |
= Total value / Shares Outstanding
= CN¥14,076.50 / 1,296.68 |
CN¥10.86 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | CNY/HKD
(Reporting currency to currency of SEHK:1515) |
1.173 |
| Value per Share (HKD) |
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥10.86 x 1.173 |
HK$12.73 |
| Value per share (HKD) | From above. | HK$12.73 |
| Current discount | Discount to share price of
HK$5.53
= -1 x (HK$5.53 - HK$12.73) / HK$12.73 |
56.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- China Resources Medical Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
- China Resources Medical 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 China Resources Medical Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
China Resources Medical Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-06-30) in CNY | CN¥0.23 |
| SEHK:1515 Share Price ** | SEHK (2019-03-21) in HKD | HK$5.53 |
| SEHK:1515 Share Price converted to CNY reporting currency | Exchange rate (HKD/ CNY) 0.853 | CN¥4.72 |
| Hong Kong Healthcare Industry PE Ratio | Median Figure of 20 Publicly-Listed Healthcare Companies | 24.99x |
| Hong Kong Market PE Ratio | Median Figure of 1,498 Publicly-Listed Companies | 10.92x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of China Resources Medical Holdings.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SEHK:1515 Share Price ÷ EPS (both in CNY) = 4.72 ÷ 0.23 |
20.2x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Resources Medical Holdings is good value based on earnings compared to the HK Healthcare industry average.
- China Resources Medical Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does
China Resources Medical Holdings's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 20.2x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts |
5.5%per year |
| Hong Kong Healthcare Industry PEG Ratio | Median Figure of 6 Publicly-Listed Healthcare Companies | 1.13x |
| Hong Kong Market PEG Ratio | Median Figure of 469 Publicly-Listed Companies | 0.8x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 20.2x ÷ 5.5% |
3.69x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Resources Medical Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
China Resources Medical Holdings's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-06-30) in CNY | CN¥4.34 |
| SEHK:1515 Share Price * | SEHK (2019-03-21) in HKD | HK$5.53 |
| SEHK:1515 Share Price converted to CNY reporting currency | Exchange rate (HKD/ CNY) 0.853 | CN¥4.72 |
| Hong Kong Healthcare Industry PB Ratio | Median Figure of 35 Publicly-Listed Healthcare Companies | 1.93x |
| Hong Kong Market PB Ratio | Median Figure of 2,138 Publicly-Listed Companies | 0.99x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SEHK:1515 Share Price ÷ Book Value per Share (both in CNY) = 4.72 ÷ 4.34 |
1.09x |
* Primary Listing of China Resources Medical Holdings.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Resources Medical Holdings is good value based on assets compared to the HK Healthcare industry average.
Value checks
We assess China Resources Medical Holdings's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Healthcare industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Healthcare industry average (and greater than 0)? (1 check) China Resources Medical Holdings 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.
Future Performance
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!
Earnings growth vs Low Risk Savings
- China Resources Medical Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
- China Resources Medical Holdings's earnings growth is positive but not above the Hong Kong market average.
- China Resources Medical Holdings's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SEHK:1515 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts | 5.5% |
| SEHK:1515 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts | 5.1% |
| Hong Kong Healthcare Industry Earnings Growth Rate | Market Cap Weighted Average | -1.3% |
| Hong Kong Healthcare Industry Revenue Growth Rate | Market Cap Weighted Average | 12.4% |
| Hong Kong Market Earnings Growth Rate | Market Cap Weighted Average | 11.8% |
| Hong Kong Market Revenue Growth Rate | Market Cap Weighted Average | 9.9% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (8 months ago) | See Below |
| Future Estimates | Average of up to 7 Analyst Estimates (S&P Global) | See Below |
| Date (Data in CNY Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 2,553 | 530 | 499 | 1 |
| 2022-12-31 | 2,457 | 626 | 482 | 1 |
| 2021-12-31 | 2,302 | 490 | 465 | 2 |
| 2020-12-31 | 2,236 | 554 | 458 | 6 |
| 2019-12-31 | 2,039 | 489 | 421 | 6 |
| 2018-12-31 | 2,008 | 547 | 412 | 6 |
| Date (Data in CNY Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-06-30 | 1,932 | 407 | 298 |
| 2018-03-31 | 1,905 | 433 | 360 |
| 2017-12-31 | 1,878 | 460 | 421 |
| 2017-09-30 | 1,784 | 377 | -446 |
| 2017-06-30 | 1,690 | 294 | -1,312 |
| 2017-03-31 | 1,611 | 259 | -1,410 |
| 2016-12-31 | 1,533 | 224 | -1,507 |
| 2016-09-30 | 1,504 | 227 | -656 |
| 2016-06-30 | 1,475 | 230 | 196 |
| 2016-03-31 | 1,424 | 231 | 181 |
| 2015-12-31 | 1,372 | 232 | 167 |
| 2015-09-30 | 1,337 | 246 | 208 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (8 months ago) | See Below |
| Future Estimates | Average of up to 7 Analyst Estimates (S&P Global) | See Below |
All data from China Resources Medical Holdings Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CNY Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 0.39 | 0.39 | 0.39 | 1.00 |
| 2022-12-31 | 0.37 | 0.37 | 0.37 | 1.00 |
| 2021-12-31 | 0.36 | 0.36 | 0.36 | 1.00 |
| 2020-12-31 | 0.35 | 0.40 | 0.30 | 5.00 |
| 2019-12-31 | 0.32 | 0.35 | 0.29 | 5.00 |
| 2018-12-31 | 0.32 | 0.33 | 0.30 | 5.00 |
| Date (Data in CNY Millions) | EPS * |
|---|---|
| 2018-06-30 | 0.23 |
| 2018-03-31 | 0.28 |
| 2017-12-31 | 0.33 |
| 2017-09-30 | -0.37 |
| 2017-06-30 | -1.16 |
| 2017-03-31 | -1.39 |
| 2016-12-31 | -1.67 |
| 2016-09-30 | -0.76 |
| 2016-06-30 | 0.24 |
| 2016-03-31 | 0.22 |
| 2015-12-31 | 0.20 |
| 2015-09-30 | 0.25 |
*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.
- China Resources Medical Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess China Resources Medical Holdings's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
China Resources Medical Holdings has a total score of 1/6, 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.
Past Performance
How has China Resources Medical Holdings performed over the past 5 years?
- China Resources Medical Holdings's last earnings update was 190 days ago.
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
Past Earnings growth analysis
- China Resources Medical Holdings's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
- China Resources Medical Holdings has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
- China Resources Medical Holdings has become profitable in the last year making it difficult to compare the HK Healthcare industry average.
Earnings and Revenue History
All data from China Resources Medical Holdings Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CNY Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-06-30 | 1,931.72 | 298.10 | 226.64 | |
| 2018-03-31 | 1,904.72 | 359.57 | 219.15 | |
| 2017-12-31 | 1,877.72 | 421.03 | 211.66 | |
| 2017-09-30 | 1,783.74 | -445.66 | 203.62 | |
| 2017-06-30 | 1,689.75 | -1,312.35 | 195.57 | |
| 2017-03-31 | 1,611.29 | -1,409.66 | 183.82 | |
| 2016-12-31 | 1,532.83 | -1,506.96 | 172.06 | |
| 2016-09-30 | 1,504.02 | -655.62 | 167.33 | |
| 2016-06-30 | 1,475.20 | 195.73 | 162.60 | |
| 2016-03-31 | 1,423.73 | 181.39 | 156.26 | |
| 2015-12-31 | 1,372.27 | 167.05 | 149.92 | |
| 2015-09-30 | 1,336.92 | 208.17 | 123.54 | |
| 2015-06-30 | 1,301.56 | 249.29 | 97.16 | |
| 2015-03-31 | 1,253.91 | 239.67 | 91.37 | |
| 2014-12-31 | 1,206.27 | 230.05 | 85.59 | |
| 2014-09-30 | 1,090.45 | 176.04 | 84.78 | |
| 2014-06-30 | 974.63 | 122.02 | 83.98 | |
| 2014-03-31 | 930.99 | 106.01 | 79.06 | |
| 2013-12-31 | 887.35 | 89.99 | 74.13 | |
| 2013-09-30 | 871.77 | 101.30 | 67.37 | |
| 2013-06-30 | 856.18 | 112.62 | 60.61 | |
| 2013-03-31 | 807.11 | 106.85 | 55.26 | |
| 2012-12-31 | 758.03 | 101.09 | 49.91 |
*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.
- China Resources Medical Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- China Resources Medical Holdings used its assets less efficiently than the HK Healthcare industry average last year based on Return on Assets.
- China Resources Medical Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess China Resources Medical Holdings's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Healthcare industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
China Resources Medical Holdings has a total score of 0/6, 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.
Health
How is China Resources Medical 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 China Resources Medical Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
- China Resources Medical Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- China Resources Medical Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 8.5x 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.
All data from China Resources Medical Holdings Company Filings, last reported 8 months ago.
| Date (Data in CNY Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-06-30 | 5,656.63 | 259.14 | 1,689.40 |
| 2018-03-31 | 5,656.63 | 259.14 | 1,689.40 |
| 2017-12-31 | 5,601.57 | 229.20 | 1,592.33 |
| 2017-09-30 | 5,601.57 | 229.20 | 1,592.33 |
| 2017-06-30 | 5,520.62 | 445.70 | 1,332.86 |
| 2017-03-31 | 5,520.62 | 445.70 | 1,332.86 |
| 2016-12-31 | 5,357.53 | 109.34 | 1,188.67 |
| 2016-09-30 | 5,357.53 | 109.34 | 1,188.67 |
| 2016-06-30 | 2,012.16 | 0.00 | 800.32 |
| 2016-03-31 | 2,012.16 | 0.00 | 800.32 |
| 2015-12-31 | 1,862.73 | 0.00 | 1,013.54 |
| 2015-09-30 | 1,862.73 | 0.00 | 1,013.54 |
| 2015-06-30 | 1,822.22 | 0.00 | 1,112.26 |
| 2015-03-31 | 1,822.22 | 0.00 | 1,112.26 |
| 2014-12-31 | 1,735.24 | 0.00 | 1,072.86 |
| 2014-09-30 | 1,735.24 | 0.00 | 1,072.86 |
| 2014-06-30 | 1,800.96 | 0.00 | 1,172.61 |
| 2014-03-31 | 1,800.96 | 0.00 | 1,172.61 |
| 2013-12-31 | 1,715.85 | 200.00 | 1,282.22 |
| 2013-09-30 | 1,715.85 | 200.00 | 1,282.22 |
| 2013-06-30 | 379.69 | 239.56 | 150.25 |
| 2013-03-31 | 379.69 | 239.56 | 150.25 |
| 2012-12-31 | 577.76 | 239.06 | 173.57 |
- China Resources Medical Holdings's level of debt (4.6%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (60.7% vs 4.6% today).
- Debt is well covered by operating cash flow (157%, greater than 20% of total debt).
- China Resources Medical Holdings earns more interest than it pays, coverage of interest payments is not a concern.
Financial health checks
We assess China Resources Medical Holdings's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) China Resources Medical Holdings has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
Dividends
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
HK$2,000 of
China Resources Medical Holdings
shares you are expected to receive
HK$38
in your first year as a dividend.
Dividend Amount
- China Resources Medical Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (1.97%).
- China Resources Medical Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.3%).
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.
| 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 7 Analyst Estimates (S&P Global) | See Below |
| Hong Kong Healthcare Industry Average Dividend Yield | Market Cap Weighted Average of 12 Stocks | 2% |
| Hong Kong Market Average Dividend Yield | Market Cap Weighted Average of 924 Stocks | 3.4% |
| Hong Kong Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Hong Kong Bottom 25% Dividend Yield | 25th Percentile | 2% |
| Hong Kong Top 25% Dividend Yield | 75th Percentile | 5.3% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in CN¥) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | 0.00 | 1.00 |
| 2021-12-31 | 0.00 | 1.00 |
| 2020-12-31 | 0.10 | 3.00 |
| 2019-12-31 | 0.09 | 3.00 |
| 2018-12-31 | 0.09 | 3.00 |
| Date (Data in CN¥) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-04-26 | 0.089 | 1.553 |
| 2017-06-16 | 0.056 | 0.673 |
| 2015-12-17 | 0.000 | 0.000 |
| 2015-08-10 | 0.040 | 0.426 |
| 2015-05-13 | 0.040 | 0.359 |
| 2014-06-18 | 0.053 | 0.511 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Resources Medical Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- Dividend payments have increased, but China Resources Medical Holdings only paid a dividend in the past 5 years.
Income/ dividend checks
We assess China Resources Medical Holdings's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can China Resources Medical Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) China Resources Medical Holdings has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | CN¥3,458,000 |
| AGE | 54 |
| TENURE AS CEO | 0.6 years |
CEO Bio
Mr. Libing Cheng serves as Vice President of Phoenix Healthcare Group Co. Ltd. Mr. Cheng served as an Executive General Manager at Phoenix Healthcare Group Co. Ltd. since March 2013. Mr. Cheng joined Phoenix Healthcare Group in September 2010 and is primarily responsible for daily operations of Phoenix Healthcare Group. He served as the Vice General Manager at Beijing Huaren Intech Hospital Management Consulting Co., Ltd., an investment and hospital management company, from 2006 to 2008 and the Vice General Manager for all of Beijing Huaren Intech Hospital Management Consulting Co., Ltd., Beijing Intech Eye Hospital Co., Ltd. and Intech Medical Chain from 2008 to 2010. From 1999 to 2002, he has served various positions at Beijing Kangchen Pharmaceutical Co., Ltd., including General Manager Assistant. He also worked as a Resident Doctor at Dongzhimen Hospital Affiliated to Beijing University of Traditional Chinese Medicine, a general traditional Chinese medicine hospital, from 1988 to 1998. He has been Chief Executive Officer of China Resources Phoenix Healthcare Holdings Company Limited since August 7, 2018 and serves as its Executive Director. Mr. Cheng received a Bachelor’s degree in Traditional Chinese Medicine from Beijing University of Traditional Chinese Medicine in Beijing in July 1988.
CEO Compensation
- Libing's compensation has increased in line with China Resources Medical Holdings recently becoming profitable.
- Libing's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure
Average tenure and age of the China Resources Medical Holdings management team in years:
- The average tenure for the China Resources Medical Holdings management team is less than 2 years, this suggests a new team.
Management Team
Libing Cheng
CEO, VP & Executive Director
CN¥3M
54
0.6 yrs
Yuan Ren
CFO & Executive Director
CN¥2M
45
1.4 yrs
Yuewei Han
Executive Director
CN¥2M
50
Yanjun Fu
Deputy GM & Executive Director
CN¥498K
38
2.3 yrs
Qing Song
Vice Chairman
53
Yiufung So
Company Secretary
36
0.7 yrs
Board of Directors Tenure
Average tenure and age of the China Resources Medical Holdings board of directors in years:
- The average tenure for the China Resources Medical Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors
Anthony Wu
Chairman
63
0.6 yrs
Libing Cheng
CEO, VP & Executive Director
CN¥3M
54
3.1 yrs
Yuning Fu
Honorary Chairman
61
2.3 yrs
Yuan Ren
CFO & Executive Director
CN¥2M
45
1.4 yrs
Yuewei Han
Executive Director
CN¥2M
50
1.4 yrs
Yanjun Fu
Deputy GM & Executive Director
CN¥498K
38
1.4 yrs
Qing Song
Vice Chairman
53
0.6 yrs
Kwok Kwong
Independent Non-Executive Director
CN¥433K
71
5.5 yrs
Felix Lee
Independent Non-Executive Director
CN¥240K
36
3.6 yrs
Kathy Chiu
Independent Non-Executive Director
69
1 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (HK$) | Value (HK$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 14. Mar 19 | Sell | Colonial First State Asset Management (Australia) Limited | Company | 13. Mar 19 | 13. Mar 19 | -5,201,500 | HK$5.42 | HK$-28,192,115 | ||
| 08. Nov 18 | Buy | Colonial First State Asset Management (Australia) Limited | Company | 07. Nov 18 | 07. Nov 18 | 1,036,500 | HK$5.71 | HK$5,918,413 | ||
| 23. Oct 18 | Sell | Yanjun Fu | Individual | 16. Oct 18 | 16. Oct 18 | -4,162 | HK$6.09 | HK$-25,356 | ||
| 23. Oct 18 | Sell | Libing Cheng | Individual | 16. Oct 18 | 16. Oct 18 | -22,123 | HK$6.09 | HK$-134,780 | ||
| 16. Oct 18 | Sell | Wellington Management Group LLP | Company | 15. Oct 18 | 15. Oct 18 | -359,000 | HK$6.19 | HK$-2,221,851 | ||
| 03. Oct 18 | Buy | Wellington Management Group LLP | Company | 02. Oct 18 | 02. Oct 18 | 307,768 | HK$7.05 | HK$2,168,841 | ||
| 02. Oct 18 | Sell | Wellington Management Group LLP | Company | 28. Sep 18 | 28. Sep 18 | -418,494 | HK$7.04 | HK$-2,945,360 | ||
| 27. Sep 18 | Sell | Yanjun Fu | Individual | 24. Sep 18 | 24. Sep 18 | -59,724 | HK$7.03 | HK$-419,734 | ||
| 27. Sep 18 | Sell | Libing Cheng | Individual | 24. Sep 18 | 24. Sep 18 | -21,476 | HK$7.03 | HK$-150,931 | ||
| 04. Sep 18 | Buy | Colonial First State Asset Management (Australia) Limited | Company | 31. Aug 18 | 31. Aug 18 | 592,000 | HK$7.24 | HK$4,283,180 | ||
| 06. Jul 18 | Buy | Colonial First State Asset Management (Australia) Limited | Company | 04. Jul 18 | 04. Jul 18 | 1,644,000 | HK$9.21 | HK$15,141,246 | ||
Management checks
We assess China Resources Medical Holdings's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) China Resources Medical 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.
News
Simply Wall St News
China Resources Medical Holdings Company Limited (HKG:1515): Will The Growth Last?
Since China Resources Medical Holdings Company Limited (HKG:1515) released its earnings in June 2018,. … analyst consensus outlook appear cautiously optimistic, … with earnings expected to grow by 40% in the upcoming year
Simply Wall St - – Full articleCalculating The Intrinsic Value Of China Resources Medical Holdings Company Limited (HKG:1515)
by taking the foreast future cash flows of the company and discounting them back to today's value. … discounted cash flows (DCF) … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model.
Simply Wall St - – Full articleShould We Be Cautious About China Resources Medical Holdings Company Limited's (HKG:1515) ROE Of 5.4%?
To keep the lesson grounded in practicality, we'll use ROE to better understand China Resources Medical Holdings Company Limited (HKG:1515). … Our data shows China Resources Medical Holdings has a return on equity of 5.4% for the last year. … One way to conceptualize this, is that for each HK$1 of shareholders' equity it has, the company made HK$0.054 in profit.
Simply Wall St - – Full articleDoes The Hype Around China Resources Medical Holdings Company Limited's (HKG:1515) Growth Justify Its January Share Price?
Growth expectations for China Resources Medical Holdings Company Limited (HKG:1515) are high, but many investors are starting to ask whether its last close at HK$5.6 can still be rationalized by the future potential. … Check out our latest analysis for China Resources Medical Holdings? … According to the analysts covering the company, the following few years should bring about good growth prospects for China Resources Medical Holdings
Simply Wall St - – Full articleWhy We’re Not Keen On China Resources Medical Holdings Company Limited’s (HKG:1515) 8.0% Return On Capital
In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.
Simply Wall St - – Full articleWhat Does China Resources Medical Holdings Company Limited's (HKG:1515) Share Price Indicate?
China Resources Medical Holdings Company Limited (HKG:1515), which is in the healthcare business, and is based in China,. … A question to answer is whether China Resources Medical Holdings's current trading price of HK$4.82 reflective of the actual value of the? … Let’s take a look at China Resources Medical Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change
Simply Wall St - – Full articleIs China Resources Medical Holdings Company Limited (HKG:1515) A Good Dividend Stock?
Historically, China Resources Medical Holdings Company Limited (HKG:1515) has paid dividends to shareholders, and these days it yields 2.0%. … Does China Resources Medical Holdings tick all the boxes of a great dividend stock? … See our latest analysis for China Resources Medical Holdings
Simply Wall St - – Full articleDoes China Resources Medical Holdings Company Limited (HKG:1515) Have A Particularly Volatile Share Price?
Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.
Simply Wall St - – Full articleHow Much Of China Resources Medical Holdings Company Limited (HKG:1515) Do Institutions Own?
Every investor in China Resources Medical Holdings Company Limited (HKG:1515) should be aware of the most powerful shareholder groups. … Generally speaking, as a company grows, institutions will increase their ownership. … With a market capitalization of HK$7.3b, China Resources Medical Holdings is a decent size, so it is probably on the radar of institutional investors.
Simply Wall St - – Full articleWhy China Resources Medical Holdings Company Limited (HKG:1515) Is An Attractive Investment To Consider
China Resources Medical Holdings Company Limited (HKG:1515) is a company with exceptional fundamental characteristics. … is a company that has been able to sustain great financial health, trading at an attractive share price. … report on China Resources Medical Holdings here
Simply Wall St - – Full articleCompany Info
Description
China Resources Medical Holdings Company Limited, an investment holding company, provides general healthcare, and hospital management and consulting services in the People’s Republic of China. The company also engages in group purchasing organization business and other hospital-derived services. It also manages third party owned hospitals and clinics under the invest-operate-transfer (IOT) model. In addition, it is involved in supply chain business, including the sale of pharmaceuticals, medical devices, and medical consumables and equipment. The company was formerly known as China Resources Phoenix Healthcare Holdings Company Limited and changed its name to China Resources Medical Holdings Company Limited in October 2018. The company was founded in 2007 and is headquartered in Beijing, the People’s Republic of China.
Details
| Name: | China Resources Medical Holdings Company Limited |
| 1515 | |
| Exchange: | SEHK |
| Founded: | 2007 |
| HK$7,209,521,428 | |
| 1,296,676,516 | |
| Website: | http://www.crphoenix.hk |
| Address: |
China Resources Medical Holdings Company Limited E-825, No. 6 Taiping Street, Xicheng District, Beijing, 100050, China |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SEHK | 1515 | Ordinary Shares | The Stock Exchange of Hong Kong Ltd. | HK | HKD | 29. Nov 2013 | |
| OTCPK | CRXX.F | Ordinary Shares | Pink Sheets LLC | US | USD | 29. Nov 2013 | |
| DB | 1PH | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 29. Nov 2013 | |
| SHSC | 1515 | Ordinary Shares | Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect | HK | HKD | 29. Nov 2013 | |
| SZSC | 1515 | Ordinary Shares | The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect | HK | HKD | 29. Nov 2013 | |
| SEHK | 1515 | HKD0.00025 | The Stock Exchange of Hong Kong Ltd. | HK | HKD | 21. Mar 2019 |
Number of employees
Current staff
Industry
| Health Care Facilities | |
| Healthcare |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/21 12:54 |
| End of day share price update: | 2019/03/21 00:00 |
| Last estimates confirmation: | 2019/02/28 |
| Last earnings filing: | 2018/09/12 |
| Last earnings reported: | 2018/06/30 |
| Last annual earnings reported: | 2017/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
