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207

Joy City Property SEHK:207 Stock Report

Last Price

HK$0.24

Market Cap

HK$3.5b

7D

-7.5%

1Y

-42.4%

Updated

28 Sep, 2022

Data

Company Financials +
207 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance1/6
Financial Health3/6
Dividends0/6

207 Stock Overview

Joy City Property Limited, an investment holding company, engages in the property investment and development, property management, and hotel operation activities in Mainland China and Hong Kong.

Joy City Property Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Joy City Property
Historical stock prices
Current Share PriceHK$0.24
52 Week HighHK$0.43
52 Week LowHK$0.24
Beta0.68
1 Month Change-10.94%
3 Month Change-21.33%
1 Year Change-42.44%
3 Year Change-71.22%
5 Year Change-83.95%
Change since IPO-88.60%

Recent News & Updates

Shareholder Returns

207HK Real EstateHK Market
7D-7.5%-5.0%-3.9%
1Y-42.4%-33.3%-25.9%

Return vs Industry: 207 underperformed the Hong Kong Real Estate industry which returned -33.3% over the past year.

Return vs Market: 207 underperformed the Hong Kong Market which returned -25.9% over the past year.

Price Volatility

Is 207's price volatile compared to industry and market?
207 volatility
207 Average Weekly Movement3.1%
Real Estate Industry Average Movement5.8%
Market Average Movement6.3%
10% most volatile stocks in HK Market12.6%
10% least volatile stocks in HK Market3.1%

Stable Share Price: 207 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 207's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19924,090Ronggen Caohttps://www.joy-cityproperty.com

Joy City Property Limited, an investment holding company, engages in the property investment and development, property management, and hotel operation activities in Mainland China and Hong Kong. It operates through Property Investment, Property and Land Development, Hotel Operations, Output Management Project, and Other Services segments. The company engages in the development, operation, sale, leasing, and management of mixed use complexes and other commercial properties, including shopping centers, hotels, offices, serviced apartments, and resort and tourist properties.

Joy City Property Fundamentals Summary

How do Joy City Property's earnings and revenue compare to its market cap?
207 fundamental statistics
Market CapHK$3.54b
Earnings (TTM)HK$923.47m
Revenue (TTM)HK$18.40b

3.6x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
207 income statement (TTM)
RevenueCN¥16.82b
Cost of RevenueCN¥10.38b
Gross ProfitCN¥6.44b
Other ExpensesCN¥5.60b
EarningsCN¥844.25m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.059
Gross Margin38.31%
Net Profit Margin5.02%
Debt/Equity Ratio70.7%

How did 207 perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is 207 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 207?

Other financial metrics that can be useful for relative valuation.

207 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/Revenue3.5x
Enterprise Value/EBITDA11.8x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does 207's PE Ratio compare to its peers?

207 PE Ratio vs Peers
The above table shows the PE ratio for 207 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average7.8x
480 HKR International
3.2x-2.2%HK$3.6b
369 Wing Tai Properties
4.8x-87.0%HK$5.0b
50 Hong Kong Ferry (Holdings)
20.1xn/aHK$2.4b
535 Gemdale Properties and Investment
2.2xn/aHK$10.0b
207 Joy City Property
3.6xn/aHK$3.5b

Price-To-Earnings vs Peers: 207 is good value based on its Price-To-Earnings Ratio (3.6x) compared to the peer average (7.8x).


Price to Earnings Ratio vs Industry

How does 207's PE Ratio compare vs other companies in the HK Real Estate Industry?

Price-To-Earnings vs Industry: 207 is good value based on its Price-To-Earnings Ratio (3.6x) compared to the Hong Kong Real Estate industry average (6.2x)


Price to Earnings Ratio vs Fair Ratio

What is 207'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.

207 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 207's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of 207 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 207 (HK$0.24) is trading below our estimate of fair value (HK$12.57)

Significantly Below Fair Value: 207 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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Future Growth

How is Joy City Property forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


11.4%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if 207's forecast earnings growth is above the savings rate (1.6%).

Earnings vs Market: Insufficient data to determine if 207's earnings are forecast to grow faster than the Hong Kong market

High Growth Earnings: Insufficient data to determine if 207's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 207's revenue (11.4% per year) is forecast to grow faster than the Hong Kong market (9.9% per year).

High Growth Revenue: 207's revenue (11.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 207's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has Joy City Property performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-11.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 207 has high quality earnings.

Growing Profit Margin: 207's current net profit margins (5%) are lower than last year (10.5%).


Past Earnings Growth Analysis

Earnings Trend: 207's earnings have declined by 11.2% per year over the past 5 years.

Accelerating Growth: 207's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 207 had negative earnings growth (-47.3%) over the past year, making it difficult to compare to the Real Estate industry average (-10.4%).


Return on Equity

High ROE: 207's Return on Equity (3.5%) is considered low.


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Financial Health

How is Joy City Property's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 207's short term assets (CN¥61.8B) exceed its short term liabilities (CN¥40.1B).

Long Term Liabilities: 207's short term assets (CN¥61.8B) exceed its long term liabilities (CN¥38.9B).


Debt to Equity History and Analysis

Debt Level: 207's net debt to equity ratio (48.8%) is considered high.

Reducing Debt: 207's debt to equity ratio has increased from 50.3% to 70.7% over the past 5 years.

Debt Coverage: 207's debt is not well covered by operating cash flow (8%).

Interest Coverage: 207's interest payments on its debt are well covered by EBIT (5.7x coverage).


Balance Sheet


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Dividend

What is Joy City Property current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Joy City Property Dividend Yield vs Market
How does Joy City Property dividend yield compare to the market?
SegmentDividend Yield
Company (Joy City Property)0%
Market Bottom 25% (HK)2.9%
Market Top 25% (HK)8.7%
Industry Average (Real Estate)5.8%
Analyst forecast in 3 Years (Joy City Property)0%

Notable Dividend: Unable to evaluate 207's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 207's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 207's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 207's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: 207 is not paying a notable dividend for the Hong Kong market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 207 has not reported any payouts.


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Management

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

3.0yrs

Average management tenure


CEO

Ronggen Cao (59 yo)

5.75yrs

Tenure

CN¥3,238,000

Compensation

Mr. Ronggen Cao is the General Manager and Director of Grandjoy Holdings Group Co., Ltd. (formerly known as COFCO Property (Group) Co., Ltd.) since May 05, 2017. He has been an Executive Director of Joy Ci...


CEO Compensation Analysis

Ronggen Cao's Compensation vs Joy City Property Earnings
How has Ronggen Cao's remuneration changed compared to Joy City Property's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

CN¥844m

Mar 31 2022n/an/a

CN¥718m

Dec 31 2021CN¥3mCN¥3m

CN¥592m

Sep 30 2021n/an/a

CN¥1b

Jun 30 2021n/an/a

CN¥2b

Mar 31 2021n/an/a

CN¥1b

Dec 31 2020CN¥2mCN¥2m

CN¥1b

Sep 30 2020n/an/a

CN¥989m

Jun 30 2020n/an/a

CN¥873m

Mar 31 2020n/an/a

CN¥1b

Dec 31 2019CN¥2mCN¥2m

CN¥2b

Compensation vs Market: Ronggen's total compensation ($USD451.19K) is about average for companies of similar size in the Hong Kong market ($USD423.83K).

Compensation vs Earnings: Ronggen's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: 207's management team is considered experienced (3 years average tenure).


Board Members

Experienced Board: 207's board of directors are not considered experienced ( 2.5 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.


Ownership Breakdown

What is the ownership structure of 207?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders4,000,2480.03%
Institutions300,660,4972.1%
Sovereign Wealth Funds1,135,920,0008.0%
General Public3,289,184,46923.1%
Private Companies9,501,359,64466.8%

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


Top Shareholders

Top 9 shareholders own 75.98% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
66.76%
COFCO Corporation
9,501,359,644CN¥2.2b0%no data
7.98%
GIC Private Limited
1,135,920,000CN¥268.1m0%0.06%
0.85%
Schroder Investment Management (Hong Kong) Limited
120,588,000CN¥28.5m0%0.02%
0.32%
Boston Partners Global Investors, Inc.
45,000,000CN¥10.6m0%no data
0.027%
Ronggen Cao
3,857,490CN¥910.4k0%no data
0.026%
Mediolanum Asset Management Limited
3,694,000CN¥871.8k0%no data
0.021%
State Street Global Advisors, Inc.
2,924,000CN¥690.1k1.46%no data
0.00096%
Fan Shing Chan
136,758CN¥32.3k0%no data
0.00004%
Kin Ming Lam
6,000CN¥1.4k0%no data

Company Information

Joy City Property Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Joy City Property Limited
  • Ticker: 207
  • Exchange: SEHK
  • Founded: 1992
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Implied Market Cap: HK$3.544b
  • Shares outstanding: 14.23b
  • Website: https://www.joy-cityproperty.com

Number of Employees


Location

  • Joy City Property Limited
  • COFCO Tower
  • 33rd Floor
  • Causeway Bay
  • Hong Kong


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
207SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDDec 2013
HKPDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2013

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
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.