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NVC Lighting Holding

SEHK:2222
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2222
SEHK
HK$3B
Market Cap
  1. Home
  2. HK
  3. Household
Company description

NVC Lighting Holding Limited, an investment holding company, manufactures and sells lamps, luminaries, lighting electronic products, and related products in China and internationally. The last earnings update was 27 days ago. More info.


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2222 Share Price and Events
7 Day Returns
3.1%
SEHK:2222
0.3%
HK Household Products
-2.5%
HK Market
1 Year Returns
-22.4%
SEHK:2222
6%
HK Household Products
-15.9%
HK Market
2222 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NVC Lighting Holding (2222) 3.1% 1.5% 17.9% -22.4% -23.3% -60.7%
HK Household Products 0.3% -10.6% -5.8% 6% 96.9% 172.9%
HK Market -2.5% -8.6% -3.6% -15.9% 25.4% 7.8%
1 Year Return vs Industry and Market
  • 2222 underperformed the Household Products industry which returned 6% over the past year.
  • 2222 underperformed the Market in Hong Kong which returned -15.9% over the past year.
Price Volatility
2222
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for NVC Lighting Holding's competitors could be found in our database.

Value

 Is NVC Lighting Holding undervalued based on future cash flows and its price relative to the stock market?

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 NVC Lighting Holding 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for NVC Lighting Holding.

SEHK:2222 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 6.8%
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.

Calculation of Discount Rate/ Cost of Equity for SEHK:2222
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Household Products Unlevered Beta Simply Wall St/ S&P Global 0.33
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.334 (1 + (1- 25%) (42.67%))
0.625
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.8 * 5.96%)
6.77%

Discounted Cash Flow Calculation for SEHK:2222 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for NVC Lighting Holding 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.

SEHK:2222 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 6.77%)
2019 57.04 Est @ -48.18% 53.42
2020 38.15 Est @ -33.12% 33.46
2021 29.53 Est @ -22.59% 24.26
2022 25.04 Est @ -15.21% 19.27
2023 22.52 Est @ -10.05% 16.23
2024 21.08 Est @ -6.43% 14.23
2025 20.25 Est @ -3.9% 12.80
2026 19.82 Est @ -2.13% 11.74
2027 19.65 Est @ -0.89% 10.89
2028 19.64 Est @ -0.02% 10.20
Present value of next 10 years cash flows CN¥206.50
SEHK:2222 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥19.64 × (1 + 2%) ÷ (6.77% – 2%)
CN¥420.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥420.20 ÷ (1 + 6.77%)10
CN¥218.23
SEHK:2222 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥206.50 + CN¥218.23
CN¥424.74
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥424.74 / 4,227.28
CN¥0.1
SEHK:2222 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2222)
1.135
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0.1 x 1.135
HK$0.11
Value per share (HKD) From above. HK$0.11
Current discount Discount to share price of HK$0.66
= -1 x (HK$0.66 - HK$0.11) / HK$0.11
-478.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of NVC Lighting Holding is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 NVC Lighting Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NVC Lighting Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2222 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥-0.09
SEHK:2222 Share Price ** SEHK (2019-05-20) in HKD HK$0.66
SEHK:2222 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥0.58
Asia Household Products Industry PE Ratio Median Figure of 9 Publicly-Listed Household Products Companies 23.92x
Hong Kong Market PE Ratio Median Figure of 1,476 Publicly-Listed Companies 11.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of NVC Lighting Holding.

SEHK:2222 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2222 Share Price ÷ EPS (both in CNY)

= 0.58 ÷ -0.09

-6.8x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NVC Lighting Holding is loss making, we can't compare its value to the Asia Household Products industry average.
  • NVC Lighting Holding is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does NVC Lighting Holding's expected growth come at a high price?
Raw Data
SEHK:2222 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -6.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
38.4%per year
Global Household Products Industry PEG Ratio Median Figure of 14 Publicly-Listed Household Products Companies 2.47x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.79x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for NVC Lighting Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on NVC Lighting Holding's assets?
Raw Data
SEHK:2222 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥0.78
SEHK:2222 Share Price * SEHK (2019-05-20) in HKD HK$0.66
SEHK:2222 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥0.58
Hong Kong Household Products Industry PB Ratio Median Figure of 5 Publicly-Listed Household Products Companies 0.82x
Hong Kong Market PB Ratio Median Figure of 2,155 Publicly-Listed Companies 0.97x
SEHK:2222 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2222 Share Price ÷ Book Value per Share (both in CNY)

= 0.58 ÷ 0.78

0.75x

* Primary Listing of NVC Lighting Holding.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NVC Lighting Holding is good value based on assets compared to the HK Household Products industry average.
X
Value checks
We assess NVC Lighting Holding's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Household Products industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Household Products industry average (and greater than 0)? (1 check)
  5. NVC Lighting Holding has a total score of 1/6, 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

 How is NVC Lighting Holding expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover NVC Lighting Holding, future earnings growth has been estimated based on fundamentals.
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!
Annual Growth Rate
38.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NVC Lighting Holding expected to grow at an attractive rate?
  • NVC Lighting Holding's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • NVC Lighting Holding's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare NVC Lighting Holding's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:2222 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2222 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 38.4%
Asia Household Products Industry Earnings Growth Rate Market Cap Weighted Average 15.1%
Global Household Products Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.7%

*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
Raw Data
SEHK:2222 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2222 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 4,905 364 -328
2018-09-30 4,516 461 -35
2018-06-30 4,127 557 258
2018-03-31 4,095 525 286
2017-12-31 4,063 494 314
2017-09-30 4,008 610 266
2017-06-30 3,953 726 217
2017-03-31 3,880 735 184
2016-12-31 3,806 743 151
2016-09-30 3,821 674 136
2016-06-30 3,836 605 121
2016-03-31 3,841 616 88

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • NVC Lighting Holding's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if NVC Lighting Holding is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:2222 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from NVC Lighting Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2222 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 -0.09
2018-09-30 -0.01
2018-06-30 0.07
2018-03-31 0.08
2017-12-31 0.09
2017-09-30 0.07
2017-06-30 0.07
2017-03-31 0.06
2016-12-31 0.05
2016-09-30 0.04
2016-06-30 0.04
2016-03-31 0.03

*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.
  • Unable to establish if NVC Lighting Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess NVC Lighting Holding's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Global market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
NVC Lighting Holding has a total score of 3/6, 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 NVC Lighting Holding performed over the past 5 years?

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
Below we compare NVC Lighting Holding's growth in the last year to its industry (Household Products).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • NVC Lighting Holding does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare NVC Lighting Holding's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare NVC Lighting Holding's 1-year growth to the Asia Household Products industry average as it is not currently profitable.
Earnings and Revenue History
NVC Lighting Holding's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from NVC Lighting Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2222 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 4,904.85 -327.59 966.81
2018-09-30 4,516.14 -34.82 852.93
2018-06-30 4,127.44 257.96 739.05
2018-03-31 4,095.30 286.12 748.94
2017-12-31 4,063.16 314.27 758.82
2017-09-30 4,008.20 265.61 793.54
2017-06-30 3,953.24 216.95 828.25
2017-03-31 3,879.79 183.94 800.44
2016-12-31 3,806.33 150.93 772.62
2016-09-30 3,821.24 135.88 739.51
2016-06-30 3,836.15 120.83 706.39
2016-03-31 3,840.90 88.29 724.03
2015-12-31 3,845.65 55.76 741.67
2015-09-30 3,692.85 -169.68 784.78
2015-06-30 3,540.05 -395.12 827.89
2015-03-31 3,505.53 -374.64 820.48
2014-12-31 3,471.01 -354.15 813.07
2014-09-30 3,629.76 -66.23 710.26
2014-06-30 3,788.50 221.69 607.45
2014-03-31 3,781.16 233.29 568.55
2013-12-31 3,773.82 244.88 529.64
2013-09-30 3,697.23 146.14 515.55
2013-06-30 3,620.64 47.40 501.45
2013-03-31 3,583.34 27.91 535.56
2012-12-31 3,546.04 8.42 569.67
2012-09-30 3,626.86 172.95 584.26
2012-06-30 3,714.78 338.53 599.71

*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.
  • It is difficult to establish if NVC Lighting Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if NVC Lighting Holding has efficiently used its assets last year compared to the Asia Household Products industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if NVC Lighting Holding improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess NVC Lighting Holding's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Household Products industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
NVC Lighting Holding 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 NVC Lighting Holding'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 NVC Lighting Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NVC Lighting Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • NVC Lighting Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of NVC Lighting Holding's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4x 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.
Raw Data

All data from NVC Lighting Holding Company Filings, last reported 4 months ago.

SEHK:2222 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,395.52 1,064.92 1,021.19
2018-09-30 3,395.52 1,064.92 1,021.19
2018-06-30 3,386.04 820.97 1,079.83
2018-03-31 3,386.04 820.97 1,079.83
2017-12-31 3,330.23 446.17 1,539.71
2017-09-30 3,330.23 446.17 1,539.71
2017-06-30 3,201.70 499.11 1,124.14
2017-03-31 3,201.70 499.11 1,124.14
2016-12-31 2,773.68 488.68 1,489.15
2016-09-30 2,773.68 488.68 1,489.15
2016-06-30 2,941.00 462.71 1,199.83
2016-03-31 2,941.00 462.71 1,199.83
2015-12-31 3,456.03 174.12 1,255.18
2015-09-30 3,456.03 174.12 1,255.18
2015-06-30 3,361.51 183.53 775.95
2015-03-31 3,361.51 183.53 775.95
2014-12-31 3,366.61 40.95 801.77
2014-09-30 3,366.61 40.95 801.77
2014-06-30 3,791.99 44.76 1,312.47
2014-03-31 3,791.99 44.76 1,312.47
2013-12-31 3,760.63 47.12 1,272.45
2013-09-30 3,760.63 47.12 1,272.45
2013-06-30 3,630.94 40.49 1,560.72
2013-03-31 3,630.94 40.49 1,560.72
2012-12-31 3,582.73 94.39 1,589.28
2012-09-30 3,582.73 94.39 1,589.28
2012-06-30 3,683.47 68.28 1,403.08
  • NVC Lighting Holding's level of debt (31.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (1.3% vs 31.4% today).
  • Debt is well covered by operating cash flow (34.2%, greater than 20% of total debt).
  • NVC Lighting Holding is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess NVC Lighting Holding's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. NVC Lighting Holding has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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

 What is NVC Lighting Holding's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from NVC Lighting Holding dividends.
If you bought HK$2,000 of NVC Lighting Holding shares you are expected to receive HK$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate NVC Lighting Holding's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate NVC Lighting Holding's dividend against the top 25% market benchmark as the company has not reported any payouts.
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.
Raw Data
SEHK:2222 Annualized Past and Future Dividends
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 0 Analyst Estimates (S&P Global) See Below
Asia Household Products Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 1.3%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 968 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:2222 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-23 0.000 0.000
2019-03-26 0.000 0.000
2018-04-26 0.008 1.652
2017-04-26 0.009 1.285
2017-03-30 0.009 1.103
2016-04-28 0.008 0.971
2016-04-06 0.008 1.110
2015-10-26 0.000 0.000
2014-06-12 0.024 1.665
2013-09-03 0.019 1.257
2013-04-26 0.020 1.118
2013-03-27 0.020 1.392
2012-08-28 0.036 2.419
2012-03-27 0.049 3.171
2011-08-24 0.045 1.742
2011-03-24 0.049 1.535
2010-08-24 0.239 7.652

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as NVC Lighting Holding has not reported any payouts.
  • Unable to verify if NVC Lighting Holding's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of NVC Lighting Holding's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as NVC Lighting Holding has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess NVC Lighting Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can NVC Lighting Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NVC Lighting Holding has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of NVC Lighting Holding's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Eva Chan
AGE 50
TENURE AS CEO 0.3 years
CEO Bio

Ms. Chan Kim Yung, Eva has been Vice Chairman of NVC Lighting Holding Limited since November 2018 and has been its Chief Executive Officer since February 22, 2019. From 1998 to 2004, Ms. Chan served as the general manager and vice president of Zhuhai China Resource Appliance Co., Ltd. where she was in charge of the sales and marketing of global business; from 2004 to 2012, she served as the senior vice president of Elec-Tech International Co., Ltd. (a substantial shareholder of the Company, the shares of which are listed on the Shenzhen Stock Exchange, stock code: 002005) where she was in charge of the company’s global business strategy and risk management; from 2012 to 2018, she served as the chief executive officer of Elec-Tech Solid State Lighting (HK) Limited, a company mainly engaged in international LED lighting business. Ms. Chan graduated from University of Saskatchewan where she obtained a Bachelor’s degree in Engineering in 1991, a Master’s degree in Engineering in 1993 and an MBA degree in 1995.

CEO Compensation
  • Insufficient data for Eva to compare compensation growth.
  • Insufficient data for Eva to establish whether their remuneration is reasonable compared to companies of similar size in Hong Kong.
Management Team

Dongming Wang

TITLE
Executive Director
COMPENSATION
CN¥1M
AGE
48

Yu Xiao

TITLE
VP & Executive Director
COMPENSATION
CN¥2M
AGE
59

Keven Wang

TITLE
Executive Director
COMPENSATION
CN¥1M
AGE
26

Eva Chan

TITLE
CEO & Vice Chairman
AGE
50
TENURE
0.3 yrs

Peng Zhang

TITLE
President
AGE
45

Ying Tan

TITLE
CFO & VP of Overseas Sales
AGE
51

Qingbo Wang

TITLE
VP & President of Commercial Lighting Business Department
AGE
42

Ching Ching Leung

TITLE
Company Secretary
AGE
37
TENURE
5.1 yrs
Board of Directors Tenure

Average tenure and age of the NVC Lighting Holding board of directors in years:

5
Average Tenure
51.5
Average Age
  • The tenure for the NVC Lighting Holding board of directors is about average.
Board of Directors

Donglei Wang

TITLE
Chairman of the Board
COMPENSATION
CN¥5M
AGE
54
TENURE
6.1 yrs

Dongming Wang

TITLE
Executive Director
COMPENSATION
CN¥1M
AGE
48
TENURE
5.9 yrs

Yu Xiao

TITLE
VP & Executive Director
COMPENSATION
CN¥2M
AGE
59
TENURE
5 yrs

Keven Wang

TITLE
Executive Director
COMPENSATION
CN¥1M
AGE
26
TENURE
2.4 yrs

Eva Chan

TITLE
CEO & Vice Chairman
AGE
50
TENURE
0.5 yrs

Conway Lee

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥429K
AGE
64
TENURE
6.5 yrs

Hongxiong Wei

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥429K
AGE
44
TENURE
5 yrs

Xuexian Wang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥429K
AGE
54
TENURE
5 yrs

Ling Su

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥15K
AGE
53
TENURE
2.4 yrs

Ye Yong

TITLE
Non-Executive Director
AGE
49
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by NVC Lighting Holding insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
16. Apr 19 Buy Ye Yong Individual 09. Apr 19 09. Apr 19 170,000 HK$0.71 HK$120,700
16. Apr 19 Buy Ye Yong Individual 10. Apr 19 10. Apr 19 230,000 HK$0.70 HK$161,000
16. Apr 19 Buy Ye Yong Individual 11. Apr 19 11. Apr 19 70,000 HK$0.70 HK$49,000
31. Aug 18 Buy Lixin Su Individual 22. Aug 18 22. Aug 18 649,350,649 HK$0.72 HK$470,648,582
27. Aug 18 Sell Guoyuan Global Income Fund Segregated Portfolio Company 22. Aug 18 22. Aug 18 -649,350,649 HK$0.72 HK$-470,648,582
X
Management checks
We assess NVC Lighting Holding's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. NVC Lighting Holding 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

What You Must Know About NVC Lighting Holding Limited's (HKG:2222) Financial Strength

While small-cap stocks, such as NVC Lighting Holding Limited (HKG:2222) with its market cap of CN¥2.36b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … since poor capital management may bring about bankruptcies, … I believe these basic checks tell most of the story you need to know.

Simply Wall St -

Is NVC Lighting Holding Limited (HKG:2222) A Buy At Its Current PE Ratio?

This article is intended for those of you who are at the beginning of your investing journey. … and want to better understand how you can grow your money by investing in NVC Lighting Holding Limited (HKG:2222). … NVC Lighting Holding Limited (HKG:2222) is currently trading at a trailing P/E of 6.8x, which is lower than the industry average of 33.3x.

Simply Wall St -

Company Info

Description

NVC Lighting Holding Limited, an investment holding company, manufactures and sells lamps, luminaries, lighting electronic products, and related products in China and internationally. The company operates through three segments: Luminaire Products, Lamp products, and Lighting Electronic Products. The Luminaire Products segment provides luminaire products as lighting units that consists of a lighting fixture, a lamp, and a lighting electronic device. Its luminaire products are sold as complete lighting units or units without lamps and lighting electronics. The Lamp Products segment offers a range of light bulbs and tubes for compact fluorescent lamps, high intensity discharge (HID) lamps, fluorescent lamps, halogen lamps, and light emitting diode (LED) lamps. The Lighting Electronic Products segment provides electronic transformers, and electronic and inductive ballasts for fluorescent lamps, LED and HID lamps, and HID ballast boxes. The company sells its products through the national sales network of 36 exclusive regional distributors, as well as through 3,634 NVC outlets covering 31 provinces, municipalities, and autonomous regions in China. NVC Lighting Holding Limited was founded in 1998 and is headquartered in Huizhou, China.

Details
Name: NVC Lighting Holding Limited
2222
Exchange: SEHK
Founded: 1998
HK$2,832,278,034
4,227,280,649
Website: http://www.nvc-lighting.com
Address: NVC Lighting Holding Limited
NVC Industrial Park,
Ruhu Town,
Huizhou,
Guangdong Province, China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2222 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 20. May 2010
Number of employees
Current staff
Staff numbers
7,642
NVC Lighting Holding employees.
Industry
Household Products
Household
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 12:54
End of day share price update: 2019/05/20 00:00
Last earnings filing: 2019/04/23
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.