Dexin China Holdings
Market Cap
HK$8.2b
Last Updated
2020/02/17 13:09 UTC
Data Sources
Company Financials +
Executive Summary
Dexin China Holdings Company Limited, an investment holding company, engages in the property development business in China.
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with proven track record.
Share Price & News
How has Dexin China Holdings's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 2019 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0.6%
2019
5.1%
HK Real Estate
1.7%
HK Market
1 Year Return
n/a
2019
-1.9%
HK Real Estate
-2.9%
HK Market
Return vs Industry: Insufficient data to determine how 2019 performed against the Hong Kong Real Estate industry.
Return vs Market: Insufficient data to determine how 2019 performed against the Hong Kong Market.
Shareholder returns
| 2019 | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.6% | 5.1% | 1.7% |
| 30 Day | 0.3% | -4.6% | -4.8% |
| 90 Day | 0% | 5.5% | 3.4% |
| 1 Year | n/a | 2.5%-1.9% | 0.7%-2.9% |
| 3 Year | n/a | 46.7%31.0% | 15.3%3.6% |
| 5 Year | n/a | 66.8%36.6% | 15.9%-3.5% |
Price Volatility Vs. Market
How volatile is Dexin China Holdings's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Should You Buy Dexin China Holdings Company Limited (HKG:2019) For Its Dividend?4 weeks ago | Simply Wall St
Here's How P/E Ratios Can Help Us Understand Dexin China Holdings Company Limited (HKG:2019)1 month ago | Simply Wall St
Should You Be Worried About Insider Transactions At Dexin China Holdings Company Limited (HKG:2019)?Valuation
Is Dexin China Holdings undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 2019 (HK$3.13) is trading below our estimate of fair value (HK$8.18)
Significantly Below Fair Value: 2019 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 2019 is good value based on its PE Ratio (3.2x) compared to the Real Estate industry average (6.8x).
PE vs Market: 2019 is good value based on its PE Ratio (3.2x) compared to the Hong Kong market (10.1x).
Price to Earnings Growth Ratio
PEG Ratio: 2019 is good value based on its PEG Ratio (0.7x)
Price to Book Ratio
PB vs Industry: 2019 is overvalued based on its PB Ratio (1.6x) compared to the HK Real Estate industry average (0.5x).
Next Steps
Future Growth
How is Dexin China Holdings forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
4.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 2019's forecast earnings growth (4.3% per year) is above the savings rate (1.6%).
Earnings vs Market: 2019's earnings (4.3% per year) are forecast to grow slower than the Hong Kong market (11.7% per year).
High Growth Earnings: 2019's earnings are forecast to grow, but not significantly.
Revenue vs Market: 2019's revenue (29.8% per year) is forecast to grow faster than the Hong Kong market (10.5% per year).
High Growth Revenue: 2019's revenue (29.8% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 2019's Return on Equity is forecast to be low in 3 years time (10.9%).
Next Steps
Past Performance
How has Dexin China Holdings performed over the past 5 years?
51.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 2019 has a high level of non-cash earnings.
Growing Profit Margin: 2019's current net profit margins (21.8%) are higher than last year (13%).
Past Earnings Growth Analysis
Earnings Trend: 2019's earnings have grown significantly by 51.4% per year over the past 5 years.
Accelerating Growth: 2019's earnings growth over the past year (86.6%) exceeds its 5-year average (51.4% per year).
Earnings vs Industry: 2019 earnings growth over the past year (86.6%) exceeded the Real Estate industry -9.7%.
Return on Equity
High ROE: Whilst 2019's Return on Equity (27.66%) is high, this metric is skewed due to their high level of debt.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Dexin China Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: 2019's short term assets (CN¥51.6B) exceed its short term liabilities (CN¥40.7B).
Long Term Liabilities: 2019's short term assets (CN¥51.6B) exceed its long term liabilities (CN¥7.6B).
Debt to Equity History and Analysis
Debt Level: 2019's debt to equity ratio (155.3%) is considered high.
Reducing Debt: Insufficient data to determine if 2019's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: 2019's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: 2019's interest payments on its debt are well covered by EBIT (6.6x coverage).
Balance Sheet
Inventory Level: 2019 has a high level of physical assets or inventory.
Debt Coverage by Assets: 2019's debt is covered by short term assets (assets are 3.5x debt).
Next Steps
Dividend
What is Dexin China Holdings's current dividend yield, its reliability and sustainability?
7.10%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: 2019's dividend (7.1%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.27%).
High Dividend: 2019's dividend (7.1%) is in the top 25% of dividend payers in the Hong Kong market (6.34%)
Stability and Growth of Payments
Stable Dividend: Too early to tell whether 2019's dividend payments have been stable as they only just started paying a dividend.
Growing Dividend: Too early to tell if 2019's dividend payments are increasing as they only just started paying a dividend.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (11.4%), 2019's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.5yrs
Average management tenure
CEO
Zhongmin Fei (49yo)
1.5yrs
Tenure
CN¥1,372,000
Compensation
Mr. Fei Zhongmin has been Director of Dexin China Holdings Company Limited since January 16, 2018. Mr. Fei Zhongmin re-designated as an executive Director and was appointed as President of Dexin China Hold ...
CEO Compensation Analysis
Compensation vs Market: Zhongmin's total compensation ($USD196.38K) is below average for companies of similar size in the Hong Kong market ($USD495.88K).
Compensation vs Earnings: Zhongmin's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President & Executive Director | 1.5yrs | CN¥1.37m | 1.45% CN¥118.3m | |
| Vice President & Executive Director | 2.1yrs | CN¥1.11m | 0.48% CN¥39.2m | |
| Executive Vice President | 1.5yrs | no data | no data | |
| Company Secretary | 1.8yrs | no data | no data |
1.5yrs
Average Tenure
44yo
Average Age
Experienced Management: 2019's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President & Executive Director | 1.5yrs | CN¥1.37m | 1.45% CN¥118.3m | |
| Vice President & Executive Director | 2.1yrs | CN¥1.11m | 0.48% CN¥39.2m | |
| Independent Non-executive Director | 1.1yrs | no data | no data | |
| Independent Non Executive Director | 1.1yrs | no data | no data | |
| Chairman of the Board | 1.5yrs | CN¥372.00k | 2.77% CN¥226.3m | |
| Non Executive Director | 1.5yrs | no data | no data | |
| Independent Non Executive Director | 1.1yrs | no data | no data |
1.5yrs
Average Tenure
52yo
Average Age
Experienced Board: 2019's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.
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: 2019 only recently listed within the past 12 months, with total shares outstanding growing by 15.5% in the past year..
Top Shareholders
Company Information
Dexin China Holdings Company Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Dexin China Holdings Company Limited
- Ticker: 2019
- Exchange: SEHK
- Founded: 1995
- Industry: Real Estate Development
- Sector: Real Estate
- Market Cap: HK$8.158b
- Shares outstanding: 2.70b
- Website: https://www.dothinkgroup.com
Number of Employees
Location
- Dexin China Holdings Company Limited
- Huaneng Building
- 3rd Floor
- Hangzhou
- Zhejiang Province
- 310014
- China
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 2019 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Ordinary Shares | HK | HKD | Feb 2019 |
| 26X | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Feb 2019 |
| 2019 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Ordinary Shares | HK | HKD | Feb 2019 |
Biography
Dexin China Holdings Company Limited, an investment holding company, engages in the property development business in China. It operates through four segments: Property Development and Sales; Property Construction Services; Hotel Operations; and Property Leasing. The company develops residential properties; and develops, operates, and manages commercial and mixed use properties. It is also involved in undertaking residential construction works; and the property leasing and hotel operation activities. As of November 30, 2018, it had 74 projects with gross floor area of 5591970 square meters under development. The company was founded in 1995 and is headquartered in Hangzhou, China. Dexin China Holdings Company Limited is a subsidiary of Tak Shin International Limited.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/17 13:09 |
| End of Day Share Price | 2020/02/17 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.