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Road King Infrastructure

SEHK:1098
Snowflake Description

Undervalued with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1098
SEHK
HK$13B
Market Cap
  1. Home
  2. HK
  3. Real Estate
Company description

Road King Infrastructure Limited, an investment holding company, invests in, develops, operates, and manages property projects and toll roads in the People’s Republic of China. The last earnings update was 18 days ago. More info.


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1098 Share Price and Events
7 Day Returns
-1.6%
SEHK:1098
-2.3%
HK Real Estate
0.3%
HK Market
1 Year Returns
16.6%
SEHK:1098
0.5%
HK Real Estate
-4.8%
HK Market
1098 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Road King Infrastructure (1098) -1.6% 0.2% 26.9% 16.6% 173.8% 144.9%
HK Real Estate -2.3% 2% 14.9% 0.5% 54.1% 62.2%
HK Market 0.3% 2.2% 11.2% -4.8% 27.1% 20.8%
1 Year Return vs Industry and Market
  • 1098 outperformed the Real Estate industry which returned 0.5% over the past year.
  • 1098 outperformed the Market in Hong Kong which returned -4.8% over the past year.
Price Volatility
1098
Industry
5yr Volatility vs Market

1098 Value

 Is Road King Infrastructure 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 Road King Infrastructure 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 Road King Infrastructure.

SEHK:1098 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 15.2%
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:1098
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.1
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.099 (1 + (1- 25%) (165.43%))
1.98
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.98 * 6.65%)
15.17%

Discounted Cash Flow Calculation for SEHK:1098 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Road King Infrastructure 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:1098 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 15.17%)
2019 5,841.27 Est @ -14.14% 5,071.92
2020 5,298.27 Est @ -9.3% 3,994.51
2021 4,985.34 Est @ -5.91% 3,263.54
2022 4,809.18 Est @ -3.53% 2,733.57
2023 4,719.13 Est @ -1.87% 2,329.08
2024 4,685.63 Est @ -0.71% 2,007.96
2025 4,690.50 Est @ 0.1% 1,745.30
2026 4,722.10 Est @ 0.67% 1,525.64
2027 4,772.74 Est @ 1.07% 1,338.90
2028 4,837.25 Est @ 1.35% 1,178.27
Present value of next 10 years cash flows HK$25,188.68
SEHK:1098 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$4,837.25 × (1 + 2%) ÷ (15.17% – 2%)
HK$37,476.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$37,476.53 ÷ (1 + 15.17%)10
HK$9,128.62
SEHK:1098 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$25,188.68 + HK$9,128.62
HK$34,317.30
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$34,317.30 / 749.34
HK$45.8
SEHK:1098 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$45.80
Current discount Discount to share price of HK$17.66
= -1 x (HK$17.66 - HK$45.80) / HK$45.80
61.4%

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

Current Discount
Amount off the current price Road King Infrastructure is available for.
Intrinsic value
>50%
Share price is HK$17.66 vs Future cash flow value of HK$45.8
Current Discount Checks
For Road King Infrastructure to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Road King Infrastructure's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Road King Infrastructure's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Road King Infrastructure's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Road King Infrastructure's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1098 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$3.99
SEHK:1098 Share Price ** SEHK (2019-04-18) in HKD HK$17.66
Hong Kong Real Estate Industry PE Ratio Median Figure of 184 Publicly-Listed Real Estate Companies 6.78x
Hong Kong Market PE Ratio Median Figure of 1,474 Publicly-Listed Companies 12.01x

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

** Primary Listing of Road King Infrastructure.

SEHK:1098 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1098 Share Price ÷ EPS (both in HKD)

= 17.66 ÷ 3.99

4.43x

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

  • Road King Infrastructure is good value based on earnings compared to the HK Real Estate industry average.
  • Road King Infrastructure is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Road King Infrastructure's expected growth come at a high price?
Raw Data
SEHK:1098 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
0.6%per year
Hong Kong Real Estate Industry PEG Ratio Median Figure of 57 Publicly-Listed Real Estate Companies 0.31x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.87x

*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 Road King Infrastructure, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Road King Infrastructure's assets?
Raw Data
SEHK:1098 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$29.40
SEHK:1098 Share Price * SEHK (2019-04-18) in HKD HK$17.66
Hong Kong Real Estate Industry PB Ratio Median Figure of 227 Publicly-Listed Real Estate Companies 0.61x
Hong Kong Market PB Ratio Median Figure of 2,149 Publicly-Listed Companies 1.03x
SEHK:1098 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1098 Share Price ÷ Book Value per Share (both in HKD)

= 17.66 ÷ 29.40

0.6x

* Primary Listing of Road King Infrastructure.

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

  • Road King Infrastructure is good value based on assets compared to the HK Real Estate industry average.
X
Value checks
We assess Road King Infrastructure'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Road King Infrastructure has a total score of 5/6, 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.

1098 Future Performance

 How is Road King Infrastructure expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Road King Infrastructure, 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
0.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Road King Infrastructure expected to grow at an attractive rate?
  • Road King Infrastructure's earnings growth is positive but not above the low risk savings rate of 2%.
Growth vs Market Checks
  • Road King Infrastructure's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare Road King Infrastructure's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1098 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1098 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 0.6%
Hong Kong Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 4.9%
Hong Kong Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 16.1%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 11.3%

*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:1098 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1098 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 22,365 6,861 2,988
2018-09-30 19,839 7,638 2,728
2018-06-30 17,312 8,414 2,468
2018-03-31 16,034 8,428 2,206
2017-12-31 14,756 8,441 1,944
2017-09-30 15,205 8,428 1,630
2017-06-30 15,655 8,415 1,316
2017-03-31 16,248 7,394 1,283
2016-12-31 16,842 6,373 1,250
2016-09-30 14,657 5,774 1,030
2016-06-30 12,472 5,176 810
2016-03-31 12,491 4,366 815

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Road King Infrastructure's earnings are expected to grow by 0.6% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Road King Infrastructure 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:1098 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Road King Infrastructure Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1098 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 3.99
2018-09-30 3.64
2018-06-30 3.30
2018-03-31 2.96
2017-12-31 2.61
2017-09-30 2.19
2017-06-30 1.78
2017-03-31 1.73
2016-12-31 1.69
2016-09-30 1.39
2016-06-30 1.10
2016-03-31 1.10

*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 Road King Infrastructure will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Road King Infrastructure'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 Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong 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.
Road King Infrastructure has a total score of 0/6, 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.

1098 Past Performance

  How has Road King Infrastructure 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 Road King Infrastructure's growth in the last year to its industry (Real Estate).
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.
  • Road King Infrastructure has delivered over 20% year on year earnings growth in the past 5 years.
  • Road King Infrastructure's 1-year earnings growth exceeds its 5-year average (53.7% vs 25.6%)
  • Road King Infrastructure's earnings growth has exceeded the HK Real Estate industry average in the past year (53.7% vs 6.2%).
Earnings and Revenue History
Road King Infrastructure'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 Road King Infrastructure Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1098 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 22,365.22 2,988.24 1,578.80
2018-09-30 19,838.51 2,728.09 1,464.66
2018-06-30 17,311.79 2,467.95 1,350.53
2018-03-31 16,033.78 2,205.83 1,313.72
2017-12-31 14,755.77 1,943.70 1,276.92
2017-09-30 15,205.30 1,629.67 1,289.94
2017-06-30 15,654.84 1,315.63 1,302.96
2017-03-31 16,248.21 1,282.85 1,217.03
2016-12-31 16,841.59 1,250.08 1,131.10
2016-09-30 14,656.98 1,030.17 1,034.28
2016-06-30 12,472.37 810.27 937.45
2016-03-31 12,491.01 815.14 911.94
2015-12-31 12,509.65 820.01 886.42
2015-09-30 12,953.78 927.51 943.61
2015-06-30 13,397.92 1,035.02 1,000.79
2015-03-31 13,064.01 1,020.02 960.78
2014-12-31 12,730.10 1,005.02 920.76
2014-09-30 12,626.80 974.72 886.33
2014-06-30 12,523.49 944.42 851.90
2014-03-31 11,989.77 973.02 887.39
2013-12-31 11,456.05 1,001.62 922.87
2013-09-30 10,566.84 923.47 923.29
2013-06-30 9,677.64 845.32 923.71
2013-03-31 9,510.88 831.75 879.95
2012-12-31 9,344.13 818.18 836.20
2012-09-30 7,806.69 732.53 772.80
2012-06-30 6,269.24 646.88 709.41

*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.
  • Road King Infrastructure has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Road King Infrastructure used its assets more efficiently than the HK Real Estate industry average last year based on Return on Assets.
  • Road King Infrastructure has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Road King Infrastructure'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 Real Estate 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.
Road King Infrastructure has a total score of 5/6, 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.

1098 Health

 How is Road King Infrastructure'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 Road King Infrastructure's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Road King Infrastructure is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Road King Infrastructure's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Road King Infrastructure'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.5x 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 Road King Infrastructure Company Filings, last reported 3 months ago.

SEHK:1098 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 24,767.44 21,892.35 11,793.24
2018-09-30 24,767.44 21,892.35 11,793.24
2018-06-30 21,701.29 22,131.08 9,976.12
2018-03-31 21,701.29 22,131.08 9,976.12
2017-12-31 21,614.43 21,172.78 8,552.22
2017-09-30 21,614.43 21,172.78 8,552.22
2017-06-30 18,970.20 19,503.61 13,553.68
2017-03-31 18,970.20 19,503.61 13,553.68
2016-12-31 14,232.63 18,576.65 8,048.82
2016-09-30 14,232.63 18,576.65 8,048.82
2016-06-30 13,829.21 15,738.32 6,221.36
2016-03-31 13,829.21 15,738.32 6,221.36
2015-12-31 13,975.87 14,273.82 3,071.72
2015-09-30 13,975.87 14,273.82 3,071.72
2015-06-30 13,997.93 15,999.27 4,231.28
2015-03-31 13,997.93 15,999.27 4,231.28
2014-12-31 14,052.55 15,213.64 3,724.19
2014-09-30 14,052.55 15,213.64 3,724.19
2014-06-30 13,509.97 15,055.60 4,217.35
2014-03-31 13,509.97 15,055.60 4,217.35
2013-12-31 13,363.25 14,092.09 6,724.00
2013-09-30 13,363.25 14,092.09 6,724.00
2013-06-30 12,529.44 12,167.00 6,279.77
2013-03-31 12,529.44 12,167.00 6,279.77
2012-12-31 12,222.87 11,780.90 5,168.44
2012-09-30 12,222.87 11,780.90 5,168.44
2012-06-30 11,533.31 9,961.23 3,968.53
  • Road King Infrastructure's level of debt (88.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (105.5% vs 88.4% today).
  • Debt is well covered by operating cash flow (31.3%, greater than 20% of total debt).
  • Road King Infrastructure earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Road King Infrastructure'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. Road King Infrastructure has a total score of 5/6, 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.

1098 Dividends

 What is Road King Infrastructure'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
6.68%
Current annual income from Road King Infrastructure dividends.
If you bought HK$2,000 of Road King Infrastructure shares you are expected to receive HK$134 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?
  • Road King Infrastructure's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.94%).
  • Road King Infrastructure's dividend is above the markets top 25% of dividend payers in Hong Kong (5.34%).
Upcoming dividend payment

Purchase Road King Infrastructure before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:1098 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
Hong Kong Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 142 Stocks 3.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 965 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 1.9%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

SEHK:1098 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-03 1.180 6.628
2019-03-19 1.180 6.699
2018-03-28 0.930 6.643
2018-03-08 0.930 5.708
2017-08-18 0.700 5.332
2017-04-06 0.680 6.431
2017-03-13 0.680 7.596
2016-03-29 0.480 7.328
2016-03-18 0.480 7.698
2015-03-30 0.580 8.436
2015-03-12 0.580 8.322
2014-04-02 0.580 8.446
2014-03-07 0.580 8.115
2013-03-01 0.460 6.244
2012-02-27 0.460 8.443
2011-08-16 0.450 10.006
2011-03-17 0.430 6.913
2010-08-12 0.500 7.193
2010-03-26 0.600 9.596
2009-04-22 0.250 4.306

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Road King Infrastructure's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.4x coverage).
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 Road King Infrastructure's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Road King Infrastructure afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Road King Infrastructure has a total score of 4/6, see the detailed checks below.


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

1098 Management

 What is the CEO of Road King Infrastructure'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
Yuk Bing Ko
COMPENSATION HK$33,964,000
AGE 62
CEO Bio

Mr. Yuk Bing Ko serves as the Chief Executive Officer and Managing Director of Road King Infrastructure Limited. Mr. Ko joined Road King Infrastructure Limited in early 1995. He serves as an Executive Director of Road King Infrastructure Finance (2012) Ltd. Mr. Ko joined RKI Overseas Finance 2017 (A) Limited in 1995. He has an extensive experience in infrastructure development in Hong Kong and the PRC. He has over 27 years of experience in business development and operation in the PRC. He serves as Executive Deputy Chairman of Road King Infrastructure Limited. He serves as a Director at RKI Overseas Finance 2017 (A) Limited. He serves as a Director of RKP Overseas Finance 2016 (A) Limited. He is a Chartered Engineer and is a fellow member of The Institution of Civil Engineers, UK, The Institution of Structural Engineers, UK and The Hong Kong Institution of Engineers. Mr. Ko holds a Master of Science degree in Engineering.

CEO Compensation
  • Yuk Bing's compensation has increased by more than 20% in the past year.
  • Yuk Bing's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Derek Zen

TITLE
Co-Chairman of the Board
COMPENSATION
HK$12M
AGE
65

William Zen

TITLE
Co-Chairman of the Board
COMPENSATION
HK$39M
AGE
70

Yuk Bing Ko

TITLE
Deputy Chairman
COMPENSATION
HK$34M
AGE
62

Keter Fong

TITLE
Finance Director
COMPENSATION
HK$13M
AGE
55

Kennedy Lee

TITLE
Group Financial Controller
AGE
52

Hayley Zen

TITLE
Executive Director of Investment & Asset Management Division
AGE
43

Hao Wang

TITLE
Deputy Chief Executive Officer of Property Division
AGE
47
TENURE
12.3 yrs

Daniel Luk

TITLE
Senior Vice President
AGE
47

Da Peng Gao

TITLE
Senior Vice President
AGE
40

Andy Zhai

TITLE
Chief Investment Officer of Toll Road Division
AGE
39
Board of Directors Tenure

Average tenure and age of the Road King Infrastructure board of directors in years:

4.5
Average Tenure
64.5
Average Age
  • The tenure for the Road King Infrastructure board of directors is about average.
Board of Directors

William Zen

TITLE
Co-Chairman of the Board
COMPENSATION
HK$39M
AGE
70
TENURE
1.9 yrs

Yuk Bing Ko

TITLE
Deputy Chairman
COMPENSATION
HK$34M
AGE
62

Keter Fong

TITLE
Finance Director
COMPENSATION
HK$13M
AGE
55
TENURE
18.8 yrs

Sai Yung Lau

TITLE
Independent Non-Executive Director
COMPENSATION
HK$569K
AGE
70
TENURE
14.7 yrs

Derek Zen

TITLE
Co-Chairman of the Board
COMPENSATION
HK$12M
AGE
65
TENURE
1.9 yrs

Raymond Tse

TITLE
Independent Non-Executive Director
COMPENSATION
HK$470K
AGE
67
TENURE
6.5 yrs

Albert Ho

TITLE
Senior Vice President of the Group for Design Centre
AGE
64

Wai Ho Wong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$477K
AGE
69
TENURE
4.9 yrs

Yongliang Zhang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$323K
AGE
50
TENURE
4.2 yrs

Yong Mou

TITLE
Non-Executive Director
COMPENSATION
HK$323K
AGE
55
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • Road King Infrastructure insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
10. Apr 19 Sell Chee On Tse Individual 09. Apr 19 09. Apr 19 -40,000 HK$18.01 HK$-720,200
10. Apr 19 Sell Sai Yung Lau Individual 09. Apr 19 09. Apr 19 -143,000 HK$18.04 HK$-2,580,321
08. Apr 19 Sell Chee On Tse Individual 04. Apr 19 04. Apr 19 -20,000 HK$17.37 HK$-347,440
04. Apr 19 Sell Chee On Tse Individual 03. Apr 19 03. Apr 19 -20,000 HK$17.87 HK$-357,360
29. Mar 19 Sell Chee On Tse Individual 27. Mar 19 27. Mar 19 -20,000 HK$18.56 HK$-371,120
31. Dec 18 Buy Wai Kee Holdings Limited Company 28. Dec 18 28. Dec 18 161,000 HK$14.00 HK$2,253,485
28. Dec 18 Buy Wai Kee Holdings Limited Company 27. Dec 18 27. Dec 18 165,000 HK$13.81 HK$2,279,459
27. Dec 18 Buy Wai Kee Holdings Limited Company 24. Dec 18 24. Dec 18 47,000 HK$13.50 HK$634,298
24. Dec 18 Buy Wai Kee Holdings Limited Company 21. Dec 18 21. Dec 18 217,000 HK$13.57 HK$2,944,494
20. Dec 18 Buy Wai Kee Holdings Limited Company 19. Dec 18 19. Dec 18 455,000 HK$13.84 HK$6,297,062
21. Dec 18 Buy Wai Kee Holdings Limited Company 20. Dec 18 20. Dec 18 197,000 HK$13.81 HK$2,720,254
19. Dec 18 Buy Wai Kee Holdings Limited Company 18. Dec 18 18. Dec 18 275,000 HK$13.89 HK$3,820,520
17. Dec 18 Buy Wai Kee Holdings Limited Company 14. Dec 18 14. Dec 18 32,000 HK$13.67 HK$437,520
18. Dec 18 Buy Wai Kee Holdings Limited Company 17. Dec 18 17. Dec 18 190,000 HK$13.91 HK$2,642,577
17. Dec 18 Buy Wai Kee Holdings Limited Company 12. Dec 18 12. Dec 18 211,000 HK$13.46 HK$2,839,279
14. Dec 18 Buy Wai Kee Holdings Limited Company 13. Dec 18 13. Dec 18 117,000 HK$13.64 HK$1,595,658
12. Dec 18 Buy Wai Kee Holdings Limited Company 11. Dec 18 11. Dec 18 202,000 HK$13.36 HK$2,698,841
11. Dec 18 Buy Wai Kee Holdings Limited Company 10. Dec 18 10. Dec 18 127,000 HK$13.32 HK$1,691,424
10. Dec 18 Buy Wai Kee Holdings Limited Company 07. Dec 18 07. Dec 18 379,000 HK$13.39 HK$5,075,531
07. Dec 18 Buy Wai Kee Holdings Limited Company 06. Dec 18 06. Dec 18 223,000 HK$13.21 HK$2,945,830
06. Dec 18 Buy Wai Kee Holdings Limited Company 05. Dec 18 05. Dec 18 62,000 HK$13.35 HK$827,899
04. Dec 18 Buy Wai Kee Holdings Limited Company 03. Dec 18 03. Dec 18 227,000 HK$13.46 HK$3,056,306
05. Dec 18 Buy Wai Kee Holdings Limited Company 04. Dec 18 04. Dec 18 107,000 HK$13.47 HK$1,441,300
03. Dec 18 Buy Wai Kee Holdings Limited Company 30. Nov 18 30. Nov 18 212,000 HK$13.23 HK$2,804,082
30. Nov 18 Buy Wai Kee Holdings Limited Company 29. Nov 18 29. Nov 18 143,000 HK$12.90 HK$1,844,700
29. Nov 18 Buy Wai Kee Holdings Limited Company 28. Nov 18 28. Nov 18 78,000 HK$12.75 HK$994,500
28. Nov 18 Buy Wai Kee Holdings Limited Company 27. Nov 18 27. Nov 18 110,000 HK$12.61 HK$1,387,001
27. Nov 18 Buy Wai Kee Holdings Limited Company 26. Nov 18 26. Nov 18 63,000 HK$12.60 HK$794,002
15. Nov 18 Buy Wei Peu Zen Individual 14. Nov 18 14. Nov 18 31,000 HK$12.49 HK$387,181
13. Nov 18 Buy Wei Peu Zen Individual 13. Nov 18 13. Nov 18 42,000 HK$12.30 HK$516,579
13. Nov 18 Buy Wei Peu Zen Individual 12. Nov 18 12. Nov 18 46,000 HK$12.26 HK$564,139
12. Nov 18 Buy Wei Peu Zen Individual 09. Nov 18 09. Nov 18 86,000 HK$12.36 HK$1,063,037
09. Nov 18 Buy Wei Peu Zen Individual 08. Nov 18 08. Nov 18 52,000 HK$12.55 HK$652,480
08. Nov 18 Buy Wei Peu Zen Individual 07. Nov 18 07. Nov 18 76,000 HK$12.51 HK$950,418
07. Nov 18 Buy Wei Peu Zen Individual 06. Nov 18 06. Nov 18 156,000 HK$12.45 HK$1,942,075
06. Nov 18 Buy Wei Peu Zen Individual 05. Nov 18 05. Nov 18 143,000 HK$12.20 HK$1,744,758
05. Nov 18 Buy Wei Peu Zen Individual 02. Nov 18 02. Nov 18 48,000 HK$12.58 HK$603,941
01. Nov 18 Buy Wei Peu Zen Individual 31. Oct 18 31. Oct 18 82,000 HK$11.99 HK$983,516
02. Nov 18 Buy Wei Peu Zen Individual 01. Nov 18 01. Nov 18 104,000 HK$12.37 HK$1,286,480
31. Oct 18 Buy Wei Peu Zen Individual 30. Oct 18 30. Oct 18 1,000 HK$11.70 HK$11,700
30. Oct 18 Buy Wei Peu Zen Individual 29. Oct 18 29. Oct 18 69,000 HK$11.37 HK$784,378
29. Oct 18 Buy Wei Peu Zen Individual 26. Oct 18 26. Oct 18 47,000 HK$11.71 HK$550,281
26. Oct 18 Buy Wei Peu Zen Individual 25. Oct 18 25. Oct 18 17,000 HK$11.67 HK$198,460
25. Oct 18 Buy Wei Peu Zen Individual 24. Oct 18 24. Oct 18 63,000 HK$11.90 HK$749,921
24. Oct 18 Buy Wei Peu Zen Individual 23. Oct 18 23. Oct 18 59,000 HK$12.09 HK$713,180
23. Oct 18 Buy Wei Peu Zen Individual 22. Oct 18 22. Oct 18 58,000 HK$12.28 HK$712,258
22. Oct 18 Buy Wei Peu Zen Individual 19. Oct 18 19. Oct 18 462,000 HK$12.01 HK$5,546,310
19. Oct 18 Buy Wei Peu Zen Individual 18. Oct 18 18. Oct 18 358,000 HK$11.81 HK$4,227,157
18. Oct 18 Buy Wei Peu Zen Individual 16. Oct 18 16. Oct 18 76,000 HK$12.09 HK$918,483
16. Oct 18 Buy Wei Peu Zen Individual 15. Oct 18 15. Oct 18 84,000 HK$12.26 HK$1,030,042
15. Oct 18 Buy Wei Peu Zen Individual 11. Oct 18 11. Oct 18 495,000 HK$12.15 HK$6,016,030
15. Oct 18 Buy Wei Peu Zen Individual 12. Oct 18 12. Oct 18 317,000 HK$12.31 HK$3,902,969
11. Oct 18 Buy Wei Peu Zen Individual 10. Oct 18 10. Oct 18 28,000 HK$12.70 HK$355,499
08. Oct 18 Buy Wei Peu Zen Individual 05. Oct 18 05. Oct 18 21,000 HK$13.12 HK$275,440
05. Oct 18 Buy Wei Peu Zen Individual 04. Oct 18 04. Oct 18 179,000 HK$13.28 HK$2,376,512
04. Oct 18 Buy Wei Peu Zen Individual 03. Oct 18 03. Oct 18 90,000 HK$13.41 HK$1,207,098
03. Oct 18 Buy Wei Peu Zen Individual 02. Oct 18 02. Oct 18 118,000 HK$13.26 HK$1,565,200
02. Oct 18 Buy Wei Peu Zen Individual 28. Sep 18 28. Sep 18 95,000 HK$13.32 HK$1,265,124
28. Sep 18 Buy Wei Peu Zen Individual 27. Sep 18 27. Sep 18 261,000 HK$13.32 HK$3,476,651
27. Sep 18 Buy Wei Peu Zen Individual 26. Sep 18 26. Sep 18 120,000 HK$13.17 HK$1,580,424
27. Sep 18 Buy Wei Peu Zen Individual 24. Sep 18 24. Sep 18 112,000 HK$13.34 HK$1,494,584
26. Sep 18 Buy Wei Peu Zen Individual 21. Sep 18 21. Sep 18 4,000 HK$13.40 HK$53,600
13. Jul 18 Buy Wai Kee Holdings Limited Company 12. Jul 18 12. Jul 18 275,000 HK$13.91 HK$3,826,048
16. Jul 18 Buy Wai Kee Holdings Limited Company 13. Jul 18 13. Jul 18 235,000 HK$13.96 HK$3,281,729
12. Jul 18 Buy Wai Kee Holdings Limited Company 11. Jul 18 11. Jul 18 402,000 HK$13.63 HK$5,480,709
11. Jul 18 Buy Wai Kee Holdings Limited Company 10. Jul 18 10. Jul 18 341,000 HK$13.65 HK$4,656,152
10. Jul 18 Buy Wai Kee Holdings Limited Company 09. Jul 18 09. Jul 18 342,000 HK$13.42 HK$4,588,752
X
Management checks
We assess Road King Infrastructure'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. Road King Infrastructure 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.

1098 News

Simply Wall St News

Do You Know What Road King Infrastructure Limited's (HKG:1098) P/E Ratio Means?

We'll show how you can use Road King Infrastructure Limited's (HKG:1098) P/E ratio to inform your assessment of the investment opportunity. … Based on the last twelve months, Road King Infrastructure's P/E ratio is 4.51. … How Do You Calculate Road King Infrastructure's P/E Ratio

Simply Wall St -

Road King Infrastructure (HKG:1098) Shares Have Generated A Total Return Of 254% In The Last Three Years

To wit, the Road King Infrastructure Limited (HKG:1098) share price has flown 187% in the last three years. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During three years of share price growth, Road King Infrastructure achieved compound earnings per share growth of 53% per year.

Simply Wall St -

How Should Investors Feel About Road King Infrastructure Limited's (HKG:1098) CEO Pay?

Yuk Ko is the CEO of Road King Infrastructure Limited (HKG:1098). … How Does Yuk Ko's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Road King Infrastructure Limited has a market cap of HK$12b, and is paying total annual CEO compensation of HK$34m.

Simply Wall St -

How Does Investing In Road King Infrastructure Limited (HKG:1098) Impact The Volatility Of Your Portfolio?

If you're interested in Road King Infrastructure Limited (HKG:1098), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility).

Simply Wall St -

What Investors Should Know About Road King Infrastructure Limited's (HKG:1098) Financial Strength

While small-cap stocks, such as Road King Infrastructure Limited (HKG:1098) with its market cap of HK$11b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Does Road King Infrastructure Limited (HKG:1098) Have A Good P/E Ratio?

We'll look at Road King Infrastructure Limited's (HKG:1098) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Road King Infrastructure's P/E ratio is 4.18. … How Do You Calculate Road King Infrastructure's P/E Ratio

Simply Wall St -

Road King Infrastructure Limited (HKG:1098) Insiders Increased Their Holdings

We often see insiders buying up shares in companies that perform well over the long term. … So shareholders might well want to know whether insiders have been buying or selling shares in Road King Infrastructure Limited (HKG:1098). … The Last 12 Months Of Insider Transactions At Road King Infrastructure.

Simply Wall St -

Should Road King Infrastructure Limited (HKG:1098) Be Part Of Your Portfolio?

Historically, Road King Infrastructure Limited (HKG:1098) has been paying a dividend to shareholders. … Let's dig deeper into whether Road King Infrastructure should have a place in your portfolio. … View our latest analysis for Road King Infrastructure

Simply Wall St -

What You Must Know About Road King Infrastructure Limited's (HKG:1098) Financial Strength

While small-cap stocks, such as Road King Infrastructure Limited (HKG:1098) with its market cap of HK$9.4b, 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 -

Road King Infrastructure Limited (HKG:1098): Dividend Is Coming In 2 Days, Should You Buy?

Road King Infrastructure Limited (HKG:1098) will be distributing its dividend of HK$0.30 per share on the 28 September 2018, and will start trading ex-dividend in 2 days time on the 31 August 2018. … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … Let's take a look at Road King Infrastructure's most recent financial data to examine its dividend characteristics in more detail.

Simply Wall St -

1098 Company Info

Description

Road King Infrastructure Limited, an investment holding company, invests in, develops, operates, and manages property projects and toll roads in the People’s Republic of China. It operates through Property Development and Investment, Toll Road, and Investment and Asset Management segments. The company is involved in the development, rental, and sale of residential and commercial properties. It also engages in the property funds, cultural attractions and tourism, and indoor entertainment businesses. In addition, it provides financial and management services. Further, the company invests in and operates a toll road portfolio of 5 expressways spanning approximately 340 kilometers. As of December 31, 2017, it had a land reserve of approximately 8,330,000 square meters located primarily in the Yangtze River Delta and Bohai Rim regions. The company was founded in 1994 and is based in Tsimshatsui, Hong Kong.

Details
Name: Road King Infrastructure Limited
1098
Exchange: SEHK
Founded: 1994
HK$13,233,283,755
749,336,566
Website: http://www.roadking.com.hk
Address: Road King Infrastructure Limited
Tower 6,
Suite 501, 5th Floor,
Tsimshatsui,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1098 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 11. Jul 1996
OTCPK RKGX.F Ordinary Shares Pink Sheets LLC US USD 11. Jul 1996
SZSC 1098 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 11. Jul 1996
Number of employees
Current staff
Staff numbers
4,158
Road King Infrastructure employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 12:44
End of day share price update: 2019/04/18 00:00
Last earnings filing: 2019/04/03
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.