SEHK:2300

Stock Analysis Report

Executive Summary

AMVIG Holdings Limited, an investment holding company, engages in printing of cigarette packages for state-owned cigarette manufacturers in the People’s Republic of China.


Snowflake Analysis

Undervalued with excellent balance sheet and pays a dividend.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 2300's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.0%

2300

0.4%

HK Packaging

7.4%

HK Market


1 Year Return

-22.5%

2300

-39.6%

HK Packaging

-22.7%

HK Market

Return vs Industry: 2300 exceeded the Hong Kong Packaging industry which returned -39.6% over the past year.

Return vs Market: 2300 matched the Hong Kong Market which returned -22.7% over the past year.


Shareholder returns

2300IndustryMarket
7 Day-2.0%0.4%7.4%
30 Day-19.6%-13.4%-11.2%
90 Day-24.5%-23.6%-17.3%
1 Year-14.7%-22.5%-35.6%-39.6%-19.9%-22.7%
3 Year-30.4%-44.4%-46.3%-51.9%-5.3%-14.8%
5 Year-41.3%-58.9%-45.4%-54.8%-8.7%-23.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is AMVIG Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 2300 (HK$1.48) is trading below our estimate of fair value (HK$11.42)

Significantly Below Fair Value: 2300 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2300 is good value based on its PE Ratio (4.4x) compared to the Packaging industry average (10.1x).

PE vs Market: 2300 is good value based on its PE Ratio (4.4x) compared to the Hong Kong market (8.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 2300's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 2300 is good value based on its PB Ratio (0.4x) compared to the HK Packaging industry average (0.4x).


Next Steps

Future Growth

How is AMVIG Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

20.6%

Forecasted Materials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as AMVIG Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has AMVIG Holdings performed over the past 5 years?

-0.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2300 has high quality earnings.

Growing Profit Margin: 2300's current net profit margins (13%) are higher than last year (10.6%).


Past Earnings Growth Analysis

Earnings Trend: 2300's earnings have declined by -0.6% per year over the past 5 years.

Accelerating Growth: 2300's earnings growth over the past year (17.6%) exceeds its 5-year average (-0.6% per year).

Earnings vs Industry: 2300 earnings growth over the past year (17.6%) exceeded the Packaging industry 0.5%.


Return on Equity

High ROE: 2300's Return on Equity (9%) is considered low.


Next Steps

Financial Health

How is AMVIG Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 2300's short term assets (HK$2.2B) do not cover its short term liabilities (HK$2.5B).

Long Term Liabilities: 2300's short term assets (HK$2.2B) exceed its long term liabilities (HK$30.3M).


Debt to Equity History and Analysis

Debt Level: 2300's debt to equity ratio (38.3%) is considered satisfactory.

Reducing Debt: 2300's debt to equity ratio has reduced from 65% to 38.3% over the past 5 years.

Debt Coverage: 2300's debt is well covered by operating cash flow (44%).

Interest Coverage: 2300's interest payments on its debt are well covered by EBIT (5.9x coverage).


Balance Sheet

Inventory Level: 2300 has a high level of physical assets or inventory.

Debt Coverage by Assets: 2300's debt is covered by short term assets (assets are 1.4x debt).


Next Steps

Dividend

What is AMVIG Holdings's current dividend yield, its reliability and sustainability?

9.12%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: 2300's dividend (9.12%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.63%).

High Dividend: 2300's dividend (9.12%) is in the top 25% of dividend payers in the Hong Kong market (7.28%)


Stability and Growth of Payments

Stable Dividend: 2300's dividend payments have been volatile in the past 10 years.

Growing Dividend: 2300's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40%), 2300's dividend payments are 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?

6.6yrs

Average management tenure


CEO

Su Ge (62yo)

10.25s

Tenure

HK$4,834,000

Compensation

Mr. Su Ge has been the Chief Executive Officer and President of AMVIG Holdings Limited since November 19, 2009. Mr. Ge has more than 17 years of experience in the Chinese tobacco industry. Mr. Ge has a dee ...


CEO Compensation Analysis

Compensation vs Market: Su's total compensation ($USD623.42K) is above average for companies of similar size in the Hong Kong market ($USD301.23K).

Compensation vs Earnings: Su's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Su Ge
CEO, President & Executive Director10.25yrsHK$4.83mno data
Shun Fai Liu
CFO, Company Secretary & Executive Director5yrsHK$3.22mno data
Neng Zhou
Group Director of Human Resources2.17yrsno datano data
Yuen Lui
Head of Internal Auditno datano datano data
Hui Ma
General Manager of Qingdao Plant3.17yrsno datano data

6.6yrs

Average Tenure

47yo

Average Age

Experienced Management: 2300's management team is seasoned and experienced (6.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Su Ge
CEO, President & Executive Director10.25yrsHK$4.83mno data
Shun Fai Liu
CFO, Company Secretary & Executive Director5yrsHK$3.22mno data
Yu Lung Ching
Independent Non-Executive Directorno datano datano data
Choon Oh
Independent Non-Executive Director13.83yrsHK$873.00kno data
Jerzy Czubak
Non-Executive Director8.25yrsHK$376.00kno data
Chew Chan
Non-Executive Chairman13.83yrsHK$491.00kno data
Tin Wah Au-Yeung
Independent Non-Executive Director13.83yrsHK$875.00kno data
Michael John Casamento
Non-Executive Director3.67yrsHK$376.00kno data

10.7yrs

Average Tenure

56.5yo

Average Age

Experienced Board: 2300's board of directors are seasoned and experienced ( 10.7 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

AMVIG Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AMVIG Holdings Limited
  • Ticker: 2300
  • Exchange: SEHK
  • Founded: 1998
  • Industry: Paper Packaging
  • Sector: Materials
  • Market Cap: HK$1.394b
  • Shares outstanding: 929.05m
  • Website: https://www.amvig.com

Number of Employees


Location

  • AMVIG Holdings Limited
  • COFCO Tower
  • Room 601-602
  • Causeway Bay
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2300SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDMar 2004
AMVG.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 2004

Biography

AMVIG Holdings Limited, an investment holding company, engages in printing of cigarette packages for state-owned cigarette manufacturers in the People’s Republic of China. It also manufactures transfer papers and laser films, which are used as raw materials for cigarette packages. The company was formerly known as Vision Grande Group Holdings Limited and changed its name to AMVIG Holdings Limited in September 2006. AMVIG Holdings Limited was founded in 1998 and is headquartered in Causeway Bay, Hong Kong. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 12:30
End of Day Share Price2020/03/31 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.