Sunac China Holdings
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Sunac China Holdings Limited, together with its subsidiaries, develops residential and commercial properties in the People's Republic of China. The last earnings update was 70 days ago. More info.
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1918 Share Price and Events
7 Day Returns
1 Year Returns
1918 Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Sunac China Holdings (1918) | 5.3% | 7.3% | -2.5% | 15.2% | 707% | 802% |
| HK Real Estate | 1.1% | -1.4% | -6.4% | -10.1% | 53.1% | 49.3% |
| HK Market | 0.5% | -2.7% | -9.9% | -15.9% | 20.6% | 3% |
1 Year Return vs Industry and Market
- 1918 outperformed the Real Estate industry which returned -10.1% over the past year.
- 1918 outperformed the Market in Hong Kong which returned -15.9% over the past year.
1918 Value
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
Sunac China Holdings
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Sunac China Holdings.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 11 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 12.9% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year HK Govt Bond Rate | 2% |
| Equity Risk Premium | S&P Global | 6% |
| Real Estate Unlevered Beta | Simply Wall St/ S&P Global | 1.02 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.025 (1 + (1- 25%) (158.77%)) |
1.834 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.83 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.834 * 5.96%) |
12.93% |
Discounted Cash Flow Calculation for SEHK:1918 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Sunac China Holdings 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.
| Levered FCF (CNY, Millions) | Source |
Present Value Discounted (@ 12.93%) |
|
|---|---|---|---|
| 2019 | 69,443.11 | Analyst x2 | 61,490.79 |
| 2020 | -279.47 | Analyst x3 | -219.13 |
| 2021 | 57,544.76 | Analyst x2 | 39,952.93 |
| 2022 | 55,698.27 | Est @ -3.21% | 34,242.51 |
| 2023 | 54,781.90 | Est @ -1.65% | 29,822.36 |
| 2024 | 54,480.18 | Est @ -0.55% | 26,261.79 |
| 2025 | 54,597.51 | Est @ 0.22% | 23,304.49 |
| 2026 | 55,007.89 | Est @ 0.75% | 20,790.88 |
| 2027 | 55,627.86 | Est @ 1.13% | 18,617.49 |
| 2028 | 56,401.00 | Est @ 1.39% | 16,714.62 |
| Present value of next 10 years cash flows | CN¥270,978.74 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= CN¥56,401.00 × (1 + 2%) ÷ (12.93% – 2%) |
CN¥526,379.01 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= CN¥526,379.01 ÷ (1 + 12.93%)10 |
CN¥155,994.15 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= CN¥270,978.74 + CN¥155,994.15 |
CN¥426,972.88 |
| Equity Value per Share (CNY) |
= Total value / Shares Outstanding
= CN¥426,972.88 / 4,437.46 |
CN¥96.22 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | CNY/HKD
(Reporting currency to currency of SEHK:1918) |
1.13 |
| Value per Share (HKD) |
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥96.22 x 1.13 |
HK$108.75 |
| Value per share (HKD) | From above. | HK$108.75 |
| Current discount | Discount to share price of
HK$36.80
= -1 x (HK$36.80 - HK$108.75) / HK$108.75 |
66.2% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Sunac China Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Sunac China Holdings'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 Sunac China Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Sunac China Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in CNY | CN¥3.79 |
| SEHK:1918 Share Price ** | SEHK (2019-06-14) in HKD | HK$36.8 |
| SEHK:1918 Share Price converted to CNY reporting currency | Exchange rate (HKD/ CNY) 0.885 | CN¥32.56 |
| Hong Kong Real Estate Industry PE Ratio | Median Figure of 188 Publicly-Listed Real Estate Companies | 6.28x |
| Hong Kong Market PE Ratio | Median Figure of 1,487 Publicly-Listed Companies | 10.68x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Sunac China Holdings.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SEHK:1918 Share Price ÷ EPS (both in CNY) = 32.56 ÷ 3.79 |
8.6x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sunac China Holdings is overvalued based on earnings compared to the HK Real Estate industry average.
- Sunac China Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does
Sunac China Holdings's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 8.6x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts |
28.2%per year |
| Hong Kong Real Estate Industry PEG Ratio | Median Figure of 60 Publicly-Listed Real Estate Companies | 0.27x |
| Hong Kong Market PEG Ratio | Median Figure of 466 Publicly-Listed Companies | 0.76x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 8.6x ÷ 28.2% |
0.3x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sunac China Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
Sunac China Holdings's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in CNY | CN¥14.15 |
| SEHK:1918 Share Price * | SEHK (2019-06-14) in HKD | HK$36.8 |
| SEHK:1918 Share Price converted to CNY reporting currency | Exchange rate (HKD/ CNY) 0.885 | CN¥32.56 |
| Hong Kong Real Estate Industry PB Ratio | Median Figure of 229 Publicly-Listed Real Estate Companies | 0.56x |
| Hong Kong Market PB Ratio | Median Figure of 2,169 Publicly-Listed Companies | 0.93x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SEHK:1918 Share Price ÷ Book Value per Share (both in CNY) = 32.56 ÷ 14.15 |
2.3x |
* Primary Listing of Sunac China Holdings.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sunac China Holdings is overvalued based on assets compared to the HK Real Estate industry average.
Value checks
We assess Sunac China Holdings's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check) Sunac China Holdings has a total score of 4/6, 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.
1918 Future Performance
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!
Earnings growth vs Low Risk Savings
- Sunac China Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
- Sunac China Holdings's earnings growth is expected to exceed the Hong Kong market average.
- Sunac China Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SEHK:1918 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts | 28.2% |
| SEHK:1918 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts | 29.4% |
| Hong Kong Real Estate Industry Earnings Growth Rate | Market Cap Weighted Average | 5.4% |
| Hong Kong Real Estate Industry Revenue Growth Rate | Market Cap Weighted Average | 16.6% |
| Hong Kong Market Earnings Growth Rate | Market Cap Weighted Average | 11.2% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (5 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
| Date (Data in CNY Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 325,284 | 59,439 | 39,542 | 10 |
| 2020-12-31 | 258,619 | 36,068 | 29,888 | 11 |
| 2019-12-31 | 196,611 | 38,885 | 23,421 | 11 |
| Date (Data in CNY Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 124,746 | 52,055 | 16,567 |
| 2018-09-30 | 111,213 | 69,161 | 16,145 |
| 2018-06-30 | 97,681 | 86,267 | 15,724 |
| 2018-03-31 | 81,777 | 80,683 | 13,364 |
| 2017-12-31 | 65,874 | 75,099 | 11,004 |
| 2017-09-30 | 52,703 | 54,356 | 7,525 |
| 2017-06-30 | 39,533 | 33,612 | 4,046 |
| 2017-03-31 | 37,438 | 19,114 | 3,262 |
| 2016-12-31 | 35,343 | 4,616 | 2,478 |
| 2016-09-30 | 31,749 | 8,681 | 2,449 |
| 2016-06-30 | 28,154 | 12,746 | 2,419 |
| 2016-03-31 | 25,583 | 14,344 | 2,859 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (5 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
All data from Sunac China Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CNY Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 8.46 | 9.92 | 6.57 | 8.00 |
| 2020-12-31 | 6.97 | 8.85 | 5.25 | 10.00 |
| 2019-12-31 | 5.46 | 6.42 | 4.50 | 10.00 |
| Date (Data in CNY Millions) | EPS * |
|---|---|
| 2018-12-31 | 3.79 |
| 2018-09-30 | 3.74 |
| 2018-06-30 | 3.70 |
| 2018-03-31 | 3.24 |
| 2017-12-31 | 2.76 |
| 2017-09-30 | 1.96 |
| 2017-06-30 | 1.09 |
| 2017-03-31 | 0.91 |
| 2016-12-31 | 0.71 |
| 2016-09-30 | 0.71 |
| 2016-06-30 | 0.71 |
| 2016-03-31 | 0.84 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Sunac China Holdings's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Sunac China Holdings has a total score of 6/6, 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.
1918 Past Performance
How has Sunac China Holdings 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
Past Earnings growth analysis
- Sunac China Holdings has delivered over 20% year on year earnings growth in the past 5 years.
- Sunac China Holdings's 1-year earnings growth exceeds its 5-year average (50.6% vs 42%)
- Sunac China Holdings's earnings growth has exceeded the HK Real Estate industry average in the past year (50.6% vs 6.3%).
Earnings and Revenue History
All data from Sunac China Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CNY Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 124,745.62 | 16,566.54 | 14,958.83 | |
| 2018-09-30 | 111,213.41 | 16,145.32 | 13,632.18 | |
| 2018-06-30 | 97,681.19 | 15,724.11 | 12,305.54 | |
| 2018-03-31 | 81,777.35 | 13,363.99 | 10,642.14 | |
| 2017-12-31 | 65,873.52 | 11,003.86 | 8,978.74 | |
| 2017-09-30 | 52,703.01 | 7,525.12 | 6,024.58 | |
| 2017-06-30 | 39,532.51 | 4,046.38 | 3,070.42 | |
| 2017-03-31 | 37,438.00 | 3,262.37 | 2,663.04 | |
| 2016-12-31 | 35,343.49 | 2,478.35 | 2,255.67 | |
| 2016-09-30 | 31,748.90 | 2,448.86 | 1,924.17 | |
| 2016-06-30 | 28,154.31 | 2,419.36 | 1,592.67 | |
| 2016-03-31 | 25,582.62 | 2,858.60 | 1,514.37 | |
| 2015-12-31 | 23,010.94 | 3,297.83 | 1,436.07 | |
| 2015-09-30 | 22,229.31 | 3,329.34 | 1,426.16 | |
| 2015-06-30 | 21,447.68 | 3,360.86 | 1,416.26 | |
| 2015-03-31 | 23,259.82 | 3,291.46 | 1,397.15 | |
| 2014-12-31 | 25,071.96 | 3,222.07 | 1,378.04 | |
| 2014-09-30 | 28,206.46 | 3,230.33 | 1,298.74 | |
| 2014-06-30 | 31,340.96 | 3,238.60 | 1,219.44 | |
| 2014-03-31 | 31,088.84 | 3,208.50 | 1,177.51 | |
| 2013-12-31 | 30,836.71 | 3,178.40 | 1,135.59 | |
| 2013-09-30 | 27,969.85 | 3,005.35 | 1,026.72 | |
| 2013-06-30 | 25,102.99 | 2,832.29 | 970.86 | |
| 2013-03-31 | 22,972.79 | 2,719.80 | 927.68 | |
| 2012-12-31 | 20,842.59 | 2,607.30 | 831.49 | |
| 2012-09-30 | 17,211.39 | 2,586.10 | 799.78 | |
| 2012-06-30 | 13,580.19 | 2,564.90 | 768.08 |
*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.
- Whilst Sunac China Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
- Sunac China Holdings used its assets less efficiently than the HK Real Estate industry average last year based on Return on Assets.
- Sunac China Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Sunac China Holdings's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Sunac China Holdings has a total score of 4/6, 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.
1918 Health
How is Sunac China Holdings'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 Sunac China Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
- Sunac China Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Sunac China Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 2.4x 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.
All data from Sunac China Holdings Company Filings, last reported 5 months ago.
| Date (Data in CNY Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 73,106.57 | 229,409.06 | 76,314.54 |
| 2018-09-30 | 73,106.57 | 229,409.06 | 76,314.54 |
| 2018-06-30 | 63,539.74 | 209,766.86 | 68,966.52 |
| 2018-03-31 | 63,539.74 | 209,766.86 | 68,966.52 |
| 2017-12-31 | 60,638.23 | 219,269.85 | 71,494.06 |
| 2017-09-30 | 60,638.23 | 219,269.85 | 71,494.06 |
| 2017-06-30 | 34,242.48 | 181,296.98 | 72,055.05 |
| 2017-03-31 | 34,242.48 | 181,296.98 | 72,055.05 |
| 2016-12-31 | 35,411.15 | 112,844.02 | 53,661.90 |
| 2016-09-30 | 35,411.15 | 112,844.02 | 53,661.90 |
| 2016-06-30 | 26,615.16 | 62,798.52 | 28,872.75 |
| 2016-03-31 | 26,615.16 | 62,798.52 | 28,872.75 |
| 2015-12-31 | 19,420.17 | 41,798.63 | 22,899.63 |
| 2015-09-30 | 19,420.17 | 41,798.63 | 22,899.63 |
| 2015-06-30 | 20,338.32 | 31,173.15 | 12,613.35 |
| 2015-03-31 | 20,338.32 | 31,173.15 | 12,613.35 |
| 2014-12-31 | 20,982.63 | 34,383.80 | 20,823.87 |
| 2014-09-30 | 20,982.63 | 34,383.80 | 20,823.87 |
| 2014-06-30 | 18,948.97 | 35,626.92 | 21,121.32 |
| 2014-03-31 | 18,948.97 | 35,626.92 | 21,121.32 |
| 2013-12-31 | 18,211.32 | 28,706.29 | 13,614.38 |
| 2013-09-30 | 18,211.32 | 28,706.29 | 13,614.38 |
| 2013-06-30 | 14,399.81 | 24,827.69 | 10,860.73 |
| 2013-03-31 | 14,399.81 | 24,827.69 | 10,860.73 |
| 2012-12-31 | 11,994.18 | 21,725.03 | 8,613.68 |
| 2012-09-30 | 11,994.18 | 21,725.03 | 8,613.68 |
| 2012-06-30 | 8,165.07 | 12,453.99 | 2,640.51 |
- Sunac China Holdings's level of debt (313.8%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (158% vs 313.8% today).
- Debt is well covered by operating cash flow (22.7%, greater than 20% of total debt).
- Sunac China Holdings earns more interest than it pays, coverage of interest payments is not a concern.
Financial health checks
We assess Sunac China Holdings's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Sunac China Holdings has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
1918 Dividends
What is Sunac China Holdings'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
If you bought
HK$2,000 of
Sunac China Holdings
shares you are expected to receive
HK$51
in your first year as a dividend.
Dividend Amount
- Sunac China Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
- Sunac China Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.95%).
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.
| 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 11 Analyst Estimates (S&P Global) | See Below |
| Hong Kong Real Estate Industry Average Dividend Yield | Market Cap Weighted Average of 143 Stocks | 4.1% |
| Hong Kong Market Average Dividend Yield | Market Cap Weighted Average of 966 Stocks | 3.7% |
| 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 | 6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in CN¥) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 2.07 | 10.00 |
| 2020-12-31 | 1.66 | 13.00 |
| 2019-12-31 | 1.26 | 13.00 |
| Date (Data in CN¥) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-29 | 0.827 | 2.547 |
| 2018-03-29 | 0.501 | 2.140 |
| 2017-05-22 | 0.257 | 1.229 |
| 2016-03-29 | 0.194 | 3.699 |
| 2015-05-28 | 0.190 | 4.191 |
| 2014-12-02 | 0.191 | 3.222 |
| 2014-04-11 | 0.191 | 4.573 |
| 2014-03-24 | 0.191 | 5.306 |
| 2013-03-27 | 0.079 | 1.965 |
| 2012-03-30 | 0.079 | 2.632 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Sunac China Holdings has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Sunac China Holdings only paid a dividend in the past 7 years.
Income/ dividend checks
We assess Sunac China Holdings's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Sunac China Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Sunac China Holdings has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
1918 Management
CEO
| COMPENSATION | CN¥20,594,000 |
| AGE | 46 |
| TENURE AS CEO | 3.8 years |
CEO Bio
Mr. Mengde Wang has been the Chief Executive Officer of Sunac China Holdings Limited since September 07, 2015. Mr. Wang served as an Executive President of Sunac China Holdings Limited since 2011 until September 07, 2015 and served as its Chief Financial Officer and General Manager of the Finance Department from 2006 to November 05, 2012. From 1997 to 1999, Mr. Wang worked at Tianjin Samsung Wool Textile Co., Ltd., where he was in charge of corporate finance and accounting management. Mr. Wang has accumulated experience and knowledge in financial management and in the real estate industry in China through his work experience in various positions including General Manager of a subsidiary of Sunco China in the East China region and Chief Operations Officer and Chief Financial Officer of Sunco China, a company engaged in the business of property development in the PRC. He joined Sunac Group in October 2006. He is primarily responsible for matters in relation to finance and audit. He has been an Executive Director of Sunac China Holdings Limited since November 23, 2007. Mr. Wang graduated from Nankai University with a bachelor's degree in Auditing in 1997.
CEO Compensation
- Mengde's compensation has been consistent with company performance over the past year, both up more than 20%.
- Mengde's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure
Average tenure and age of the Sunac China Holdings management team in years:
- The tenure for the Sunac China Holdings management team is about average.
Management Team
Hongbin Sun
Founder & Executive Chairman
CN¥17M
55
Mengde Wang
CEO & Executive Director
CN¥21M
46
3.8 yrs
Qiang Tian
Executive Director
CN¥17M
41
4.4 yrs
Xun Chi
Executive Director
CN¥19M
44
Shuping Huang
Executive Director
CN¥13M
37
Yu Shang
Executive Director
CN¥17M
39
Hong Jing
Executive Director and Executive President & President of Beijing Regional Branch
CN¥19M
56
Kevin Zheyi Sun
VP, President of Culture Group & Executive Director
CN¥3M
28
2.1 yrs
Hongling Cao
Executive President & CFO
42
3.8 yrs
Zhixia Ma
Executive President & COO
CN¥614K
45
4.4 yrs
Board of Directors Tenure
Average tenure and age of the Sunac China Holdings board of directors in years:
- The tenure for the Sunac China Holdings board of directors is about average.
Board of Directors
Hongbin Sun
Founder & Executive Chairman
CN¥17M
55
Mengde Wang
CEO & Executive Director
CN¥21M
46
11.6 yrs
Qiang Tian
Executive Director
CN¥17M
41
2.6 yrs
Xun Chi
Executive Director
CN¥19M
44
9.9 yrs
Shuping Huang
Executive Director
CN¥13M
37
2.6 yrs
Yu Shang
Executive Director
CN¥17M
39
9.9 yrs
Hong Jing
Executive Director and Executive President & President of Beijing Regional Branch
CN¥19M
56
6.9 yrs
Kevin Zheyi Sun
VP, President of Culture Group & Executive Director
CN¥3M
28
2.1 yrs
Feng Min
Chairman of Wuxi Sunan Real Estate
48
11.5 yrs
Jonathan Zhu
Independent Non-Executive Director
CN¥380K
55
9.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (HK$) | Value (HK$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 28. Jun 18 | Buy | Yu Shang | Individual | 27. Jun 18 | 27. Jun 18 | 200,000 | HK$25.80 | HK$5,160,000 | ||
| 28. Jun 18 | Buy | Mengde Wang | Individual | 27. Jun 18 | 27. Jun 18 | 750,000 | HK$25.72 | HK$19,289,327 | ||
| 28. Jun 18 | Buy | Yu Shang | Individual | 28. Jun 18 | 28. Jun 18 | 200,000 | HK$25.00 | HK$5,000,000 | ||
Management checks
We assess Sunac China Holdings's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Sunac China Holdings 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.
1918 News
Simply Wall St News
Why I Like Sunac China Holdings Limited (HKG:1918)
Exceptional growth potential and good value Investors in search for stocks with room to flourish should look no further than 1918, with its expected earnings growth of 28%. … Over the past year, 1918 has grown its earnings by 51%, with its most recent figure exceeding its annual average over the past five years. … Dividend Income vs Capital Gains: Does 1918 return gains to shareholders through reinvesting in itself and growing earnings, or redistribute a decent portion of earnings as dividends?
Simply Wall St - – Full articleAre You An Income Investor? Don't Miss Out On Sunac China Holdings Limited (HKG:1918)
Investors might not know much about Sunac China Holdings's dividend prospects, even though it has been paying dividends for the last seven years and offers a 2.8% yield. … Sunac China Holdings has been paying a dividend for the past seven years. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Sunac China Holdings has grown its earnings per share at 32% per annum over the past five years. Earnings per share have grown rapidly, and the company is retaining a majority of its earnings. We think this is ideal from an investment perspective, if the company is able to reinvest these earnings effectively. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.
Simply Wall St - – Full articleHave Insiders Been Buying Sunac China Holdings Limited (HKG:1918) Shares?
So we'll take a look at whether insiders have been buying or selling shares in Sunac China Holdings Limited (HKG:1918). … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … The Last 12 Months Of Insider Transactions At Sunac China Holdings
Simply Wall St - – Full articleWhat Do Analysts Think About Sunac China Holdings Limited's (HKG:1918) Earnings Trajectory?
The latest earnings update Sunac China Holdings Limited (HKG:1918) released in December 2018a
Simply Wall St - – Full articleI Ran A Stock Scan For Earnings Growth And Sunac China Holdings (HKG:1918) Passed With Ease
If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Sunac China Holdings (HKG:1918). … Sunac China Holdings's Earnings Per Share Are Growing. … While we note Sunac China Holdings's EBIT margins were flat over the last year, revenue grew by a solid 89% to CN¥125b.
Simply Wall St - – Full articleIs Sunac China Holdings Limited's (HKG:1918) ROE Of 23% Impressive?
Over the last twelve months Sunac China Holdings has recorded a ROE of 23%. … That means that for every HK$1 worth of shareholders' equity, it generated HK$0.23 in profit. … View our latest analysis for Sunac China Holdings?
Simply Wall St - – Full articleDon't Sell Sunac China Holdings Limited (HKG:1918) Before You Read This
We'll look at Sunac China Holdings Limited's (HKG:1918) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Sunac China Holdings's P/E ratio is 8.26. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleWhat Kind Of Shareholder Owns Most Sunac China Holdings Limited (HKG:1918) Stock?
The big shareholder groups in Sunac China Holdings Limited (HKG:1918) have power over the company. … Sunac China Holdings has a market capitalization of HK$157b, so it's too big to fly under the radar. … See our latest analysis for Sunac China Holdings
Simply Wall St - – Full articleSunac China Holdings Shareholders Have Enjoyed A Whopping 691% Share Price Gain
Then look at the Sunac China Holdings Limited (HKG:1918) share price. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Over half a decade, Sunac China Holdings managed to grow its earnings per share at 34% a year.
Simply Wall St - – Full articleIs Sunac China Holdings Limited (HKG:1918) Potentially Underrated?
Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Sunac China Holdings Limited (HKG:1918) due to its excellent fundamentals in more than one area.
Simply Wall St - – Full article1918 Company Info
Description
Sunac China Holdings Limited, together with its subsidiaries, develops residential and commercial properties in the People's Republic of China. The company’s property portfolio includes high-rise and mid-rise apartments, detached villas, townhouses, retail stores, offices, serviced apartments, clubhouses, and parking spaces and schools. It is also involved in leasing commercial properties; and the cultural and tourism city operation activities. The company was founded in 2003 and is based in Beijing, China.
Details
| Name: | Sunac China Holdings Limited |
| 1918 | |
| Exchange: | SEHK |
| Founded: | 2003 |
| HK$163,298,624,747 | |
| 4,437,462,629 | |
| Website: | http://www.sunac.com.cn |
| Address: |
Sunac China Holdings Limited Rongke Wangjing Center, 26th Floor, Block B, Beijing, 100102, China |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SEHK | 1918 | HKD Ordinary Shares | The Stock Exchange of Hong Kong Ltd. | HK | HKD | 07. Oct 2010 | |
| OTCPK | SCCC.F | HKD Ordinary Shares | Pink Sheets LLC | US | USD | 07. Oct 2010 | |
| DB | SCNR | HKD Ordinary Shares | Deutsche Boerse AG | DE | EUR | 07. Oct 2010 | |
| SHSC | 1918 | HKD Ordinary Shares | Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect | HK | HKD | 07. Oct 2010 | |
| SZSC | 1918 | HKD Ordinary Shares | The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect | HK | HKD | 07. Oct 2010 |
Number of employees
Current staff
Industry
| Real Estate Development | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/17 12:58 |
| End of day share price update: | 2019/06/14 00:00 |
| Last estimates confirmation: | 2019/06/09 |
| Last earnings filing: | 2019/04/08 |
| 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.
