SEHK:853

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MicroPort Scientific

Executive Summary

MicroPort Scientific Corporation, an investment holding company, manufactures and markets medical devices in the People’s Republic of China, North America, Europe, other Asian countries, South America, and internationally.


Snowflake Analysis

Proven track record with moderate growth potential.


Similar Companies

Share Price & News

How has MicroPort Scientific's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 853's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.7%

853

-6.3%

HK Medical Equipment

0.6%

HK Market


1 Year Return

257.8%

853

118.0%

HK Medical Equipment

-9.9%

HK Market

Return vs Industry: 853 exceeded the Hong Kong Medical Equipment industry which returned 118% over the past year.

Return vs Market: 853 exceeded the Hong Kong Market which returned -9.9% over the past year.


Shareholder returns

853IndustryMarket
7 Day-4.7%-6.3%0.6%
30 Day32.7%8.0%-3.6%
90 Day105.1%33.5%-6.8%
1 Year259.8%257.8%120.2%118.0%-7.0%-9.9%
3 Year280.6%276.5%103.3%96.8%-4.7%-14.3%
5 Year434.0%428.3%103.3%94.1%-15.4%-28.5%

Price Volatility Vs. Market

How volatile is MicroPort Scientific's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is MicroPort Scientific undervalued compared to its fair value and its price relative to the market?

98.88x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 853 (HK$22.4) is trading above our estimate of fair value (HK$6.75)

Significantly Below Fair Value: 853 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 853 is poor value based on its PE Ratio (98.9x) compared to the Medical Equipment industry average (31x).

PE vs Market: 853 is poor value based on its PE Ratio (98.9x) compared to the Hong Kong market (9.3x).


Price to Earnings Growth Ratio

PEG Ratio: 853 is poor value based on its PEG Ratio (3.7x)


Price to Book Ratio

PB vs Industry: 853 is overvalued based on its PB Ratio (8.9x) compared to the HK Medical Equipment industry average (1.8x).


Next Steps

Future Growth

How is MicroPort Scientific forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

27.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 853's forecast earnings growth (27% per year) is above the savings rate (1.6%).

Earnings vs Market: 853's earnings (27% per year) are forecast to grow faster than the Hong Kong market (16.5% per year).

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

Revenue vs Market: 853's revenue (10.3% per year) is forecast to grow slower than the Hong Kong market (10.5% per year).

High Growth Revenue: 853's revenue (10.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 853's Return on Equity is forecast to be low in 3 years time (11.4%).


Next Steps

Past Performance

How has MicroPort Scientific performed over the past 5 years?

69.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 853 has a large one-off gain of $64.7M impacting its December 31 2019 financial results.

Growing Profit Margin: 853's current net profit margins (5.8%) are higher than last year (3.6%).


Past Earnings Growth Analysis

Earnings Trend: 853 has become profitable over the past 5 years, growing earnings by 69.4% per year.

Accelerating Growth: 853's earnings growth over the past year (93.5%) exceeds its 5-year average (69.4% per year).

Earnings vs Industry: 853 earnings growth over the past year (93.5%) exceeded the Medical Equipment industry 6.7%.


Return on Equity

High ROE: 853's Return on Equity (4.4%) is considered low.


Next Steps

Financial Health

How is MicroPort Scientific's financial position?


Financial Position Analysis

Short Term Liabilities: 853's short term assets ($741.0M) exceed its short term liabilities ($431.8M).

Long Term Liabilities: 853's short term assets ($741.0M) exceed its long term liabilities ($512.2M).


Debt to Equity History and Analysis

Debt Level: 853's debt to equity ratio (61.7%) is considered high.

Reducing Debt: 853's debt to equity ratio has reduced from 127.7% to 61.7% over the past 5 years.

Debt Coverage: 853's debt is not well covered by operating cash flow (6.6%).

Interest Coverage: 853's interest payments on its debt are not well covered by EBIT (1.2x coverage).


Balance Sheet


Next Steps

Dividend

What is MicroPort Scientific's current dividend yield, its reliability and sustainability?

0.24%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: 853's dividend (0.24%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.59%).

High Dividend: 853's dividend (0.24%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.35%).


Stability and Growth of Payments

Stable Dividend: 853 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are stable.

Growing Dividend: 853 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: 853 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 853's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

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

6.5yrs

Average management tenure


CEO

Maxwell Chang (56yo)

7.67yrs

Tenure

US$3,626,000

Compensation

Dr. Zhaohua Chang, also known as Maxwell, serves as the Chief Executive Officer Shanghai MicroPort Medical (Group) Co., Ltd. He serves as the Chairman of MicroPort Scientific Corporation. He serves as Chai ...


CEO Compensation Analysis

Compensation vs Market: Maxwell's total compensation ($USD3.63M) is above average for companies of similar size in the Hong Kong market ($USD598.24K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Zhaohua Chang
Founder7.67yrsUS$3.63mno data
Hongbin Sun
Chief Financial Officer9.83yrsUS$2.66mno data
Glendy Wang
Chief Operating Officerno datano datano data
Qiyi Luo
Chief Technology Officerno dataUS$1.94mno data
Junder Chiang
Chief Human Resources Officer5.42yrsno datano data
Jonathan H. Chen
Chief International Business Officerno datano datano data
Yan Zhang
President of MP Shanghaino dataUS$2.57mno data
He Li
Board Secretary & VP of Corporate General Affairsno datano datano data
Wing Yan Yuen
Company Secretary0.33yrno datano data
Robin Weng
President of MicroPort Orthopedic - Chinano datano datano data

6.5yrs

Average Tenure

51.5yo

Average Age

Experienced Management: 853's management team is seasoned and experienced (6.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Zhaohua Chang
Founder7.67yrsUS$3.63mno data
Hiroshi Shirafuji
Non-Executive Director13.5yrsno datano data
Norihiro Ashida
Non-Executive Director13.5yrsno datano data
Jonathan H. Chou
Independent Non-Executive Director9.67yrsUS$12.00kno data
Guoen Liu
Independent Non-Executive Director9.67yrsUS$38.00kno data
Chunyang Shao
Independent Non-Executive Director3.67yrsUS$38.00kno data
Hongliang Yu
Non-Executive Director1.92yrsno datano data

9.7yrs

Average Tenure

56yo

Average Age

Experienced Board: 853's board of directors are considered experienced (9.7 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.3%.


Top Shareholders

Company Information

MicroPort Scientific Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MicroPort Scientific Corporation
  • Ticker: 853
  • Exchange: SEHK
  • Founded: 1998
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: HK$38.746b
  • Shares outstanding: 1.73b
  • Website: https://www.microport.com

Number of Employees


Location

  • MicroPort Scientific Corporation
  • 1601 Zhangdong Road
  • Zhangjiang Hi-Tech Park
  • Shanghai
  • 201203
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
853SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDSep 2010
MSKDB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 2010
MCRP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDSep 2010
853SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDSep 2010
853SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDSep 2010

Biography

MicroPort Scientific Corporation, an investment holding company, manufactures and markets medical devices in the People’s Republic of China, North America, Europe, other Asian countries, South America, and internationally. The company operates through eight segments: Cardiovascular Devices, Orthopedics Devices, Cardiac Rhythm Management (CRM) Business, Endovascular Devices, Neurovascular Devices, Surgical Devices, Heart Valve Business, and Surgical Robot Business. The Cardiovascular Devices segment provides coronary stents and related delivery systems; and balloon catheters and accessories. The Orthopedics Devices segment offers reconstructive joints, spine and trauma, and other professional implants and equipment. The CRM segment develops, manufactures, and markets defibrillators, cardiac resynchronization therapy devices, and pacemakers for the diagnosis, treatment, and management of heart rhythm disorders and heart failure. The Endovascular Devices segment provides products and services for the interventional treatment of thoracic and abdominal aortic aneurysm, peripheral vascular diseases, aortic dissection, and other endovascular related diseases. The Neurovascular Devices segment provides products and services for neurovascular diseases, such as cerebral aneurysms, intracranial atherosclerotic diseases, carotid artery diseases, and other neurovasculature related diseases. The Surgical Devices segment researches and develops, manufactures, and sells surgical devices. The Heart Valve Business segment engages in the research and development, manufacture, and sale of VitaFlow Transcatheter aortic valve and delivery system for the treatment of valvular heart diseases. The Surgical Robot Business segment provides research and technology integration in the fields of robot, intelligent control, and information to provide medical products. MicroPort Scientific Corporation was founded in 1998 and is headquartered in Shanghai, the People’s Republic of China. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/30 13:17
End of Day Share Price2020/05/29 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.