SEHK:1515

Stock Analysis Report

China Resources Medical Holdings

Executive Summary

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.

Snowflake

Fundamentals

Excellent balance sheet with proven track record.


Similar Companies

Share Price & News

How has China Resources Medical Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-2.7%

SEHK:1515

1.9%

HK Healthcare

0.7%

HK Market


1 Year Return

-27.4%

SEHK:1515

-25.9%

HK Healthcare

-5.3%

HK Market

1515 underperformed the Healthcare industry which returned -26.1% over the past year.

1515 underperformed the Market in Hong Kong which returned -3.3% over the past year.


Share holder returns

1515IndustryMarket
7 Day-2.7%1.9%0.7%
30 Day-2.5%5.6%4.9%
90 Day-6.8%-4.4%-3.7%
1 Year-25.9%-27.4%-24.4%-25.9%-1.8%-5.3%
3 Year-61.2%-62.6%-27.8%-32.2%16.4%4.6%
5 Year-59.2%-61.4%-20.8%-27.7%18.0%-1.7%

Price Volatility Vs. Market

How volatile is China Resources Medical Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is China Resources Medical Holdings undervalued based on future cash flows and its price relative to the stock market?

36%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

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, but not at a substantial discount (< 40%).


Price Based on Earnings

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

China Resources Medical Holdings is poor value based on expected growth next year.


Price Based on Value of Assets

China Resources Medical Holdings is good value based on assets compared to the HK Healthcare industry average.


Next Steps

Future Growth

How is China Resources Medical Holdings expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

6.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

China Resources Medical Holdings's revenue is expected to grow by 6% yearly, however this is not considered high growth (20% yearly).

China Resources Medical Holdings's earnings are expected to grow by 6.3% yearly, however this is not considered high growth (20% yearly).

China Resources Medical Holdings's revenue growth is positive but not above the Hong Kong market average.

China Resources Medical Holdings's earnings growth is positive but not above the Hong Kong market average.

China Resources Medical Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.


Earnings per Share Growth Estimates


Future Return on Equity

China Resources Medical Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has China Resources Medical Holdings performed over the past 5 years?

4.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

China Resources Medical Holdings's year on year earnings growth rate has been positive over the past 5 years.

China Resources Medical Holdings's 1-year earnings growth exceeds its 5-year average (38.2% vs 4.4%)

China Resources Medical Holdings's earnings growth has exceeded the HK Healthcare industry average in the past year (38.2% vs 9.5%).


Return on Equity

China Resources Medical Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

China Resources Medical Holdings used its assets more efficiently than the HK Healthcare industry average last year based on Return on Assets.


Return on Capital Employed

China Resources Medical Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is China Resources Medical Holdings's financial position?


Financial Position Analysis

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.


Debt to Equity History and Analysis

China Resources Medical Holdings's level of debt (8.3%) compared to net worth is satisfactory (less than 40%).

Unable to establish if China Resources Medical Holdings's debt level has increased without past 5-year debt data.

Debt is well covered by operating cash flow (48.4%, greater than 20% of total debt).

China Resources Medical Holdings earns more interest than it pays, coverage of interest payments is not a concern.


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 5.9x debt.


Next Steps

Dividend

What is China Resources Medical Holdings's current dividend yield, its reliability and sustainability?

1.26%

Expected Dividend Yield


Dividend Yield and Payments Analysis

China Resources Medical Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.19%).

China Resources Medical Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (6.08%).

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.


Current Payout to Shareholders

Dividends paid are well covered by earnings (3.1x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (6.4x coverage).


Next Steps

Management

What is the CEO of China Resources Medical Holdings's salary, the management and board of directors tenure and is there insider trading?

1.5yrs

Average management tenure


CEO

Libing Cheng (55yo)

1.1yrs

Tenure

CN¥5,352,000

Compensation

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 Phoen ...


CEO Compensation Analysis

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

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


Management Age and Tenure

1.5yrs

Average Tenure

48.5yo

Average Age

The average tenure for the China Resources Medical Holdings management team is less than 2 years, this suggests a new team.


Board Age and Tenure

1.9yrs

Average Tenure

54.5yo

Average Age

The average tenure for the China Resources Medical Holdings board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

SellCN¥28,192,11514 Mar 19
Colonial First State Asset Management (Australia) Limited
EntityCompany
Shares5,201,500
Max PriceCN¥5.42
BuyCN¥5,918,41308 Nov 18
Colonial First State Asset Management (Australia) Limited
EntityCompany
Shares1,036,500
Max PriceCN¥5.71
SellCN¥134,78023 Oct 18
Libing Cheng
EntityIndividual
Role
Chief Executive Officer
CEO, VP & Executive Director
Shares22,123
Max PriceCN¥6.09
SellCN¥25,35623 Oct 18
Yanjun Fu
EntityIndividual
Role
Member of the Board of Directors
VP & Executive Director
Shares4,162
Max PriceCN¥6.09
SellCN¥2,221,85116 Oct 18
Wellington Management Group LLP
EntityCompany
Shares359,000
Max PriceCN¥6.19
BuyCN¥2,168,84103 Oct 18
Wellington Management Group LLP
EntityCompany
Shares307,768
Max PriceCN¥7.05
SellCN¥2,945,36002 Oct 18
Wellington Management Group LLP
EntityCompany
Shares418,494
Max PriceCN¥7.04
SellCN¥419,73427 Sep 18
Yanjun Fu
EntityIndividual
Role
Member of the Board of Directors
VP & Executive Director
Shares59,724
Max PriceCN¥7.03
SellCN¥150,93127 Sep 18
Libing Cheng
EntityIndividual
Role
Chief Executive Officer
CEO, VP & Executive Director
Shares21,476
Max PriceCN¥7.03

Ownership Breakdown


Management Team

  • Qing Song (54yo)

    Vice Chairman

    • Tenure: 1.1yrs
  • Yuan Ren (46yo)

    CFO & Executive Director

    • Tenure: 1.9yrs
    • Compensation: CN¥2.24m
  • Zechang Xu (57yo)

    Executive President

    • Tenure: 0yrs
    • Compensation: CN¥2.92m
  • Libing Cheng (55yo)

    CEO, VP & Executive Director

    • Tenure: 1.1yrs
    • Compensation: CN¥5.35m
  • Yiu So (37yo)

    Company Secretary

    • Tenure: 1.2yrs
  • Yanjun Fu (39yo)

    VP & Executive Director

    • Tenure: 1.9yrs
    • Compensation: CN¥3.17m
  • Yuewei Han (51yo)

    Executive Director

    • Tenure: 1.9yrs
    • Compensation: CN¥2.94m
  • Lin Du (39yo)

    Chief General Counsel & Board Secretary

    • Tenure: 0yrs

Board Members

  • Kathy Chiu (70yo)

    Independent Non-Executive Director

    • Tenure: 1.5yrs
    • Compensation: CN¥199.00k
  • Yuning Fu (62yo)

    Honorary Chairman

    • Tenure: 2.8yrs
  • Qing Song (54yo)

    Vice Chairman

    • Tenure: 1.1yrs
  • Yuan Ren (46yo)

    CFO & Executive Director

    • Tenure: 1.9yrs
    • Compensation: CN¥2.24m
  • Kwok Kong Kwong (72yo)

    Independent Non-Executive Director

    • Tenure: 6yrs
    • Compensation: CN¥422.00k
  • Libing Cheng (55yo)

    CEO, VP & Executive Director

    • Tenure: 1.1yrs
    • Compensation: CN¥5.35m
  • Felix Lee (37yo)

    Independent Non-Executive Director

    • Tenure: 4.1yrs
    • Compensation: CN¥240.00k
  • Yanjun Fu (39yo)

    VP & Executive Director

    • Tenure: 1.9yrs
    • Compensation: CN¥3.17m
  • Yuewei Han (51yo)

    Executive Director

    • Tenure: 1.9yrs
    • Compensation: CN¥2.94m
  • Anthony Wu (64yo)

    Chairman

    • Tenure: 1.1yrs
    • Compensation: CN¥358.00k

Company Information

China Resources Medical Holdings Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: China Resources Medical Holdings Company Limited
  • Ticker: 1515
  • Exchange: SEHK
  • Founded: 2007
  • Industry: Health Care Facilities
  • Sector: Healthcare
  • Market Cap: HK$6.691b
  • Shares outstanding: 1.30b
  • Website: https://www.crmedical.hk

Number of Employees


Location

  • China Resources Medical Holdings Company Limited
  • E-825, No. 6 Taiping Street
  • Xicheng District
  • Beijing
  • 100050
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1515SEHK (The Stock Exchange of Hong Kong Ltd.)HKD0.00025HKHKDNo data
1515SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDNov 2013
1PHDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2013
1515SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDNov 2013
1515SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDNov 2013

Biography

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  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/17 12:53
End of Day Share Price2019/09/17 00:00
Earnings2019/06/30
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.