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1908

C&D International Investment Group SEHK:1908 Stock Report

Last Price

HK$21.20

Market Cap

HK$30.3b

7D

3.4%

1Y

51.9%

Updated

30 Jun, 2022

Data

Company Financials +
1908 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance4/6
Financial Health4/6
Dividends4/6

1908 Stock Overview

C&D International Investment Group Limited, an investment holding company, engages in the property development, real estate industry chain investment services, and industry investment activities in Mainland China, Hong Kong, Macau, Taiwan, and internationally.

C&D International Investment Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for C&D International Investment Group
Historical stock prices
Current Share PriceHK$21.20
52 Week HighHK$21.40
52 Week LowHK$11.50
Beta0.66
1 Month Change25.44%
3 Month Change21.14%
1 Year Change51.86%
3 Year Change112.64%
5 Year Change321.47%
Change since IPO3,319.36%

Recent News & Updates

Jun 01
Does C&D International Investment Group (HKG:1908) Deserve A Spot On Your Watchlist?

Does C&D International Investment Group (HKG:1908) Deserve A Spot On Your Watchlist?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

May 11
Here's Why C&D International Investment Group (HKG:1908) Has A Meaningful Debt Burden

Here's Why C&D International Investment Group (HKG:1908) Has A Meaningful Debt Burden

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Shareholder Returns

1908HK Real EstateHK Market
7D3.4%4.3%3.1%
1Y51.9%-31.8%-21.2%

Return vs Industry: 1908 exceeded the Hong Kong Real Estate industry which returned -31.8% over the past year.

Return vs Market: 1908 exceeded the Hong Kong Market which returned -21.2% over the past year.

Price Volatility

Is 1908's price volatile compared to industry and market?
1908 volatility
1908 Average Weekly Movement6.9%
Real Estate Industry Average Movement6.3%
Market Average Movement6.9%
10% most volatile stocks in HK Market13.7%
10% least volatile stocks in HK Market3.3%

Stable Share Price: 1908 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 1908's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19932,672Weiguo Linhttps://www.cndintl.com

C&D International Investment Group Limited, an investment holding company, engages in the property development, real estate industry chain investment services, and industry investment activities in Mainland China, Hong Kong, Macau, Taiwan, and internationally. It leases commercial and residential units, as well as retail and industrial properties; and constructs and sells residential units and car parking spaces. The company also provides project construction and management; engineering management and consultancy; and advertisement planning services.

C&D International Investment Group Fundamentals Summary

How do C&D International Investment Group's earnings and revenue compare to its market cap?
1908 fundamental statistics
Market CapCN¥25.89b
Earnings (TTM)CN¥3.17b
Revenue (TTM)CN¥53.44b

8.3x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
1908 income statement (TTM)
RevenueCN¥53.44b
Cost of RevenueCN¥44.71b
Gross ProfitCN¥8.74b
Other ExpensesCN¥5.56b
EarningsCN¥3.17b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.18
Gross Margin16.35%
Net Profit Margin5.93%
Debt/Equity Ratio134.3%

How did 1908 perform over the long term?

See historical performance and comparison

Dividends

10.7%

Current Dividend Yield

74%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 1908 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1908?

Other financial metrics that can be useful for relative valuation.

1908 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.9x
Enterprise Value/EBITDA19.8x
PEG Ratio0.4x

Price to Earnings Ratio vs Peers

How does 1908's PE Ratio compare to its peers?

1908 PE Ratio vs Peers
The above table shows the PE ratio for 1908 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average4.2x
754 Hopson Development Holdings
2.9xn/aHK$28.0b
1030 Seazen Group
2.5x-6.4%HK$24.8b
247 Tsim Sha Tsui Properties
6.5xn/aHK$44.7b
817 China Jinmao Holdings Group
4.9x12.5%HK$26.6b
1908 C&D International Investment Group
8.3x22.1%HK$30.3b

Price-To-Earnings vs Peers: 1908 is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the peer average (4.2x).


Price to Earnings Ratio vs Industry

How does 1908's PE Ratio compare vs other companies in the HK Real Estate Industry?

Price-To-Earnings vs Industry: 1908 is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the Hong Kong Real Estate industry average (6.5x)


Price to Earnings Ratio vs Fair Ratio

What is 1908's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1908 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.3x
Fair PE Ratio7.6x

Price-To-Earnings vs Fair Ratio: 1908 is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the estimated Fair Price-To-Earnings Ratio (7.6x).


Share Price vs Fair Value

What is the Fair Price of 1908 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1908 (HK$21.2) is trading below our estimate of fair value (HK$104.28)

Significantly Below Fair Value: 1908 is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: 1908 is good value based on its PEG Ratio (0.4x)


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Future Growth

How is C&D International Investment Group forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


22.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1908's forecast earnings growth (22.1% per year) is above the savings rate (1.6%).

Earnings vs Market: 1908's earnings (22.1% per year) are forecast to grow faster than the Hong Kong market (17.1% per year).

High Growth Earnings: 1908's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 1908's revenue (20.5% per year) is forecast to grow faster than the Hong Kong market (10.2% per year).

High Growth Revenue: 1908's revenue (20.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1908's Return on Equity is forecast to be low in 3 years time (17.7%).


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Past Performance

How has C&D International Investment Group performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


47.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1908 has high quality earnings.

Growing Profit Margin: 1908's current net profit margins (5.9%) are higher than last year (5.2%).


Past Earnings Growth Analysis

Earnings Trend: 1908 has become profitable over the past 5 years, growing earnings by 47.3% per year.

Accelerating Growth: 1908's earnings growth over the past year (42.8%) is below its 5-year average (47.3% per year).

Earnings vs Industry: 1908 earnings growth over the past year (42.8%) exceeded the Real Estate industry 8.7%.


Return on Equity

High ROE: 1908's Return on Equity (6.3%) is considered low.


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Financial Health

How is C&D International Investment Group's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 1908's short term assets (CN¥322.5B) exceed its short term liabilities (CN¥204.9B).

Long Term Liabilities: 1908's short term assets (CN¥322.5B) exceed its long term liabilities (CN¥75.4B).


Debt to Equity History and Analysis

Debt Level: 1908's net debt to equity ratio (58.8%) is considered high.

Reducing Debt: 1908's debt to equity ratio has reduced from 273.7% to 134.3% over the past 5 years.

Debt Coverage: 1908's debt is not well covered by operating cash flow (7.6%).

Interest Coverage: 1908's interest payments on its debt are well covered by EBIT (59.8x coverage).


Balance Sheet


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Dividend

What is C&D International Investment Group current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


10.73%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 1908's dividend (10.73%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.71%).

High Dividend: 1908's dividend (10.73%) is in the top 25% of dividend payers in the Hong Kong market (7.74%)


Stability and Growth of Payments

Stable Dividend: 1908 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 1908's dividend payments have increased, but the company has only paid a dividend for 9 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (73.7%), 1908's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (44%), 1908's dividend payments are well covered by cash flows.


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Management

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

3.9yrs

Average management tenure


CEO

Weiguo Lin (42 yo)

3.25yrs

Tenure

CN¥2,188,000

Compensation

Ms. Chengmin Zhao has been an Executive Director of C&D International Investment Group Limited since February 10, 2015. Ms. Zhao served as Deputy Executive Officer of C&D International Investment Group Lim...


CEO Compensation Analysis

Compensation vs Market: Weiguo's total compensation ($USD326.53K) is about average for companies of similar size in the Hong Kong market ($USD457.29K).

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


Leadership Team

Experienced Management: 1908's management team is considered experienced (3.9 years average tenure).


Board Members

Experienced Board: 1908's board of directors are considered experienced (7.3 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 14.2%.


Top Shareholders

Company Information

C&D International Investment Group Limited's employee growth, exchange listings and data sources


Key Information

  • Name: C&D International Investment Group Limited
  • Ticker: 1908
  • Exchange: SEHK
  • Founded: 1993
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Implied Market Cap: HK$30.323b
  • Shares outstanding: 1.46b
  • Website: https://www.cndintl.com

Number of Employees


Location

  • C&D International Investment Group Limited
  • Wu Chung House
  • 35th Floor
  • Wan Chai
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/30 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.