SEHK:191

Stock Analysis Report

Lai Sun Garment (International)

Executive Summary

Lai Sun Garment (International) Limited, an investment holding company, invests in, develops, leases, manages, and sells properties.


Snowflake Analysis

Overvalued with worrying balance sheet.


Similar Companies

Share Price & News

How has Lai Sun Garment (International)'s share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 191's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

191

2.0%

HK Real Estate

-0.4%

HK Market


1 Year Return

-32.5%

191

-27.3%

HK Real Estate

-22.7%

HK Market

Return vs Industry: 191 underperformed the Hong Kong Real Estate industry which returned -26.1% over the past year.

Return vs Market: 191 underperformed the Hong Kong Market which returned -20.4% over the past year.


Shareholder returns

191IndustryMarket
7 Day0%2.0%-0.4%
30 Day-12.6%-12.8%-11.2%
90 Day-18.2%-20.3%-17.3%
1 Year-32.0%-32.5%-24.0%-27.3%-19.9%-22.7%
3 Year-21.7%-23.2%14.8%2.2%-4.8%-14.4%
5 Year65.5%58.8%31.4%8.9%-12.3%-26.3%

Price Volatility Vs. Market

How volatile is Lai Sun Garment (International)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Lai Sun Garment (International) undervalued compared to its fair value and its price relative to the market?

0.14x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: 191 (HK$8.1) is trading above our estimate of fair value (HK$0.92)

Significantly Below Fair Value: 191 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 191 is unprofitable, so we can't compare its PE Ratio to the Real Estate industry average.

PE vs Market: 191 is unprofitable, so we can't compare its PE Ratio to the Hong Kong market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 191's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 191 is good value based on its PB Ratio (0.1x) compared to the HK Real Estate industry average (0.4x).


Next Steps

Future Growth

How is Lai Sun Garment (International) forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.3%

Forecasted Real Estate 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 Lai Sun Garment (International) 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 Lai Sun Garment (International) performed over the past 5 years?

16.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 191 is currently unprofitable.

Growing Profit Margin: 191 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 191 is unprofitable, but has reduced losses over the past 5 years at a rate of 16.3% per year.

Accelerating Growth: Unable to compare 191's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 191 is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (2.4%).


Return on Equity

High ROE: 191 has a negative Return on Equity (-3.76%), as it is currently unprofitable.


Next Steps

Financial Health

How is Lai Sun Garment (International)'s financial position?


Financial Position Analysis

Short Term Liabilities: 191's short term assets (HK$12.5B) exceed its short term liabilities (HK$8.1B).

Long Term Liabilities: 191's short term assets (HK$12.5B) do not cover its long term liabilities (HK$25.4B).


Debt to Equity History and Analysis

Debt Level: 191's debt to equity ratio (43.8%) is considered high.

Reducing Debt: 191's debt to equity ratio has increased from 35.2% to 43.8% over the past 5 years.


Balance Sheet

Inventory Level: 191 has a high level of physical assets or inventory.

Debt Coverage by Assets: 191's debt is not covered by short term assets (assets are 0.6x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: 191 has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: 191 has been profitable on average in the past, therefore cash runway is not a concern.


Next Steps

Dividend

What is Lai Sun Garment (International)'s current dividend yield, its reliability and sustainability?

0.91%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 191's dividend (0.91%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.56%).

High Dividend: 191's dividend (0.91%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.14%).


Stability and Growth of Payments

Stable Dividend: 191 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are stable.

Growing Dividend: 191 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: 191 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 191's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

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

6.7yrs

Average management tenure


CEO

Chai Tuck Yip (45yo)

6.67s

Tenure

HK$9,997,000

Compensation

Mr. Chai Tuck Yip has been the Chief Executive Officer of Lai Sun Garment (International) Limited since August 19, 2013. Mr. Yip has extensive experience in corporate advisory, business development and inv ...


CEO Compensation Analysis

Compensation vs Market: Chai Tuck's total compensation ($USD1.29M) is above average for companies of similar size in the Hong Kong market ($USD330.80K).

Compensation vs Earnings: Chai Tuck's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Kin Ming Lam
Chairman15yrsHK$2.25m0.26% HK$8.3m
Chai Tuck Yip
Chief Executive Officer6.67yrsHK$10.00mno data
Kin Ngok Lam
Deputy Chairmanno dataHK$34.59m42.1% HK$1.3b
Fook Aun Chew
Deputy Chairman7.83yrsHK$19.98m0.052% HK$1.6m
Kin Hong Lam
Legal Advisor & Executive Director19.08yrsHK$1.65mno data
Po Chu U
Executive Director29.33yrsHK$8.18m0.21% HK$6.7m
Hau Yin Lam
Executive Director13.92yrsHK$3.67m3.21% HK$100.9m
Pik Ha Tse
Company Secretary7.08yrsno datano data

6.7yrs

Average Tenure

57yo

Average Age

Experienced Management: 191's management team is seasoned and experienced (6.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kin Ming Lam
Chairman15yrsHK$2.25m0.26% HK$8.3m
Kin Ngok Lam
Deputy Chairmanno dataHK$34.59m42.1% HK$1.3b
Fook Aun Chew
Deputy Chairman7.83yrsHK$19.98m0.052% HK$1.6m
Kin Hong Lam
Legal Advisor & Executive Director19.08yrsHK$1.65mno data
Po Chu U
Executive Director29.33yrsHK$8.18m0.21% HK$6.7m
Hau Yin Lam
Executive Director13.92yrsHK$3.67m3.21% HK$100.9m
Bing Lam
Independent Non-Executive Director9.17yrsHK$900.00kno data
Shu Leung
Independent Non-Executive Director17.75yrsHK$600.00kno data
Bing Chow
Independent Non Executive Director15.58yrsHK$300.00kno data

15.3yrs

Average Tenure

68yo

Average Age

Experienced Board: 191's board of directors are seasoned and experienced ( 15.3 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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Lai Sun Garment (International) Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Lai Sun Garment (International) Limited
  • Ticker: 191
  • Exchange: SEHK
  • Founded: 1947
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: HK$3.147b
  • Shares outstanding: 388.48m
  • Website: https://www.laisun.com/lai-sun-garment/en-US

Number of Employees


Location

  • Lai Sun Garment (International) Limited
  • AIA Central
  • 19th Floor
  • Central
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
191SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJan 1992
LSIH.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
LAI2BST (Boerse-Stuttgart)YesOrdinary SharesDEEURJan 1992

Biography

Lai Sun Garment (International) Limited, an investment holding company, invests in, develops, leases, manages, and sells properties. The company operates through Property Development and Sales, Property Investment, Hotel Operation, Restaurant Operation, Media and Entertainment, Film Production and Distribution, Cinema Operation, and Others segments. Its property portfolio includes commercial/retail, office, industrial, residential, and hotel properties. The company also invests in, develops, operates, and manages hotels and restaurants, cultural, leisure, entertainment, and related facilities; and provides management and consultancy services to hotels, restaurants, and serviced apartments. In addition, it engages in the development, operation, and investment of media, entertainment, and music production and distribution; and cinema operations, as well as provides related advertising services. Further, the company invests in, produces, sells, licenses, and distributes television programs, films, and video format products, as well as engages in golf apparel retailing. Additionally, the company offers property management, real estate agency, leasing agency, and building services; luxury yachts brokerage, charter, marketing, management, and crew placement services; and finance and treasury services. It also provides artiste management services; sells albums; distributes and licenses music; and trades in gaming products. The company operates in Hong Kong, the United Kingdom, Vietnam, Mainland China, and internationally. Lai Sun Garment (International) Limited was founded in 1947 and is headquartered in Central, Hong Kong. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/01 12:49
End of Day Share Price2020/03/31 00:00
Earnings2020/01/31
Annual Earnings2019/07/31


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.