SEHK:1931

Stock Analysis Report

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Executive Summary

IVD Medical Holding Limited, an investment holding company, distributes in vitro diagnostic (IVD) products in Mainland China and internationally. More Details


Snowflake Analysis

Adequate balance sheet and overvalued.

Share Price & News

How has IVD Medical Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 1931 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

23.4%

1931

4.3%

HK Healthcare

1.1%

HK Market


1 Year Return

-20.7%

1931

-25.5%

HK Healthcare

1.4%

HK Market

Return vs Industry: 1931 exceeded the Hong Kong Healthcare industry which returned -24.6% over the past year.

Return vs Market: 1931 underperformed the Hong Kong Market which returned 2.3% over the past year.


Shareholder returns

1931IndustryMarket
7 Day23.4%4.3%1.1%
30 Day12.8%1.8%7.0%
90 Day-7.7%1.8%2.4%
1 Year-18.8%-20.7%-23.7%-25.5%5.6%1.4%
3 Yearn/a-44.1%-48.1%-4.4%-14.8%
5 Yearn/a-44.5%-50.3%20.5%0.2%

Price Volatility Vs. Market

How volatile is IVD Medical Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is IVD Medical Holding undervalued compared to its fair value and its price relative to the market?

204.38x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 1931 (HK$2.64) is trading above our estimate of fair value (HK$2.3)

Significantly Below Fair Value: 1931 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 1931 is poor value based on its PE Ratio (204.4x) compared to the HK Healthcare industry average (19.6x).

PE vs Market: 1931 is poor value based on its PE Ratio (204.4x) compared to the Hong Kong market (11.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 1931's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 1931 is good value based on its PB Ratio (1.1x) compared to the HK Healthcare industry average (1.5x).


Next Steps

Future Growth

How is IVD Medical Holding forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

12.4%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if 1931's forecast earnings growth is above the savings rate (1.6%).

Earnings vs Market: Insufficient data to determine if 1931's earnings are forecast to grow faster than the Hong Kong market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 1931's revenue (12.4% per year) is forecast to grow slower than the Hong Kong market (13.2% per year).

High Growth Revenue: 1931's revenue (12.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1931's Return on Equity is forecast to be low in 3 years time (12%).


Next Steps

Past Performance

How has IVD Medical Holding performed over the past 5 years?

19.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1931 has a large one-off loss of CN¥94.5M impacting its June 30 2020 financial results.

Growing Profit Margin: 1931's current net profit margins (0.6%) are lower than last year (31.4%).


Past Earnings Growth Analysis

Earnings Trend: 1931's earnings have grown by 19.5% per year over the past 5 years.

Accelerating Growth: 1931's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1931 had negative earnings growth (-96%) over the past year, making it difficult to compare to the Healthcare industry average (-10%).


Return on Equity

High ROE: 1931's Return on Equity (-0.2%) is considered low.


Next Steps

Financial Health

How is IVD Medical Holding's financial position?


Financial Position Analysis

Short Term Liabilities: 1931's short term assets (CN¥2.3B) exceed its short term liabilities (CN¥1.0B).

Long Term Liabilities: 1931's short term assets (CN¥2.3B) exceed its long term liabilities (CN¥201.7M).


Debt to Equity History and Analysis

Debt Level: 1931's debt to equity ratio (24.8%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if 1931's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: 1931's debt is not well covered by operating cash flow (13.2%).

Interest Coverage: 1931's interest payments on its debt are well covered by EBIT (16.1x coverage).


Balance Sheet


Next Steps

Dividend

What is IVD Medical Holding current dividend yield, its reliability and sustainability?

1.26%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 1931's dividend (1.26%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.25%).

High Dividend: 1931's dividend (1.26%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.77%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether 1931's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if 1931's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (567.1%), 1931's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

1.3yrs

Average management tenure


CEO

Kuk Sing Ho (61 yo)

1.33yrs

Tenure

Mr. Ho Kuk Sing serves as Executive Director, Chairman of the Board and Chief Executive Officer at IVD Medical Holding Limited since June 21, 2019. He was Director of IVD Medical Holding Limited since May ...


Leadership Team

NamePositionTenureCompensationOwnership
Kuk Sing Ho
Chairman & CEO1.33yrsno data13.27%
CN¥ 463.4m
Chuanbo Zhou
Chief Finance Officer1.58yrsno datano data
King Sun Leung
COO & Executive Director4.42yrsno data13.38%
CN¥ 467.3m
Xianya Lin
GM & Executive Director4.75yrsno data8.52%
CN¥ 297.4m
Bo Yang
Financial Controller4.67yrsno datano data
Wai Yan Lam
Company Secretaryno datano datano data

1.3yrs

Average Tenure

44yo

Average Age

Experienced Management: 1931's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Kuk Sing Ho
Chairman & CEO1.33yrsno data13.27%
CN¥ 463.4m
King Sun Leung
COO & Executive Director4.42yrsno data13.38%
CN¥ 467.3m
Xianya Lin
GM & Executive Director4.75yrsno data8.52%
CN¥ 297.4m
Siu Ki Lau
Independent Non-Executive Director1.33yrsno datano data
Xingang Chen
Non-Executive Director4.33yrsno datano data
Kwok King Chan
Non-Executive Director4.33yrsno datano data
Zhaoxu Yang
Non-Executive Director1.75yrsno datano data
Renqian Zhong
Independent Non-Executive Director1.33yrsno datano data
Ka Sing Leung
Independent Non-Executive Director1.33yrsno datano data

1.8yrs

Average Tenure

57yo

Average Age

Experienced Board: 1931's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: 1931 insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

IVD Medical Holding Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: IVD Medical Holding Limited
  • Ticker: 1931
  • Exchange: SEHK
  • Founded: 1993
  • Industry: Health Care Distributors
  • Sector: Healthcare
  • Market Cap: HK$3.493b
  • Shares outstanding: 1.32b
  • Website: https://www.ivdholding.com

Number of Employees


Location

  • IVD Medical Holding Limited
  • Building 6
  • Room 602, Lane 299
  • Shanghai
  • Shanghai Province
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1931SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJul 2019

Biography

IVD Medical Holding Limited, an investment holding company, distributes in vitro diagnostic (IVD) products in Mainland China and internationally. The company operates through three segments: Distribution B ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/26 13:03
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
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.