SEHK:208

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Polytec Asset Holdings

Executive Summary

Polytec Asset Holdings Limited, an investment holding company, primarily invests in, develops, and trades in real estate properties in the People’s Republic of China and Kazakhstan.


Snowflake Analysis

Excellent balance sheet average dividend payer.

Share Price & News

How has Polytec Asset Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 208 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

208

-1.4%

HK Real Estate

3.0%

HK Market


1 Year Return

-23.0%

208

-12.4%

HK Real Estate

-0.9%

HK Market

Return vs Industry: 208 underperformed the Hong Kong Real Estate industry which returned -12.4% over the past year.

Return vs Market: 208 underperformed the Hong Kong Market which returned -0.9% over the past year.


Shareholder returns

208IndustryMarket
7 Day0%-1.4%3.0%
30 Day-7.2%2.9%6.1%
90 Day-10.5%5.1%12.1%
1 Year-15.8%-23.0%-7.7%-12.4%3.1%-0.9%
3 Year49.8%20.3%17.6%3.4%7.1%-4.4%
5 Year-10.1%-29.4%36.6%12.0%8.7%-9.4%

Price Volatility Vs. Market

How volatile is Polytec Asset Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Polytec Asset Holdings undervalued compared to its fair value and its price relative to the market?

4.83x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 208 (HK$0.77) is trading above our estimate of fair value (HK$0.67)

Significantly Below Fair Value: 208 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 208 is good value based on its PE Ratio (4.8x) compared to the HK Real Estate industry average (7x).

PE vs Market: 208 is good value based on its PE Ratio (4.8x) compared to the Hong Kong market (10.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 208's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 208 is good value based on its PB Ratio (0.2x) compared to the HK Real Estate industry average (0.5x).


Next Steps

Future Growth

How is Polytec Asset Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.3%

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 Polytec Asset Holdings 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 Polytec Asset Holdings performed over the past 5 years?

63.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 208 has a large one-off gain of HK$252.3M impacting its December 31 2019 financial results.

Growing Profit Margin: 208's current net profit margins (78%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: 208's earnings have grown significantly by 63.8% per year over the past 5 years.

Accelerating Growth: 208's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 208 had negative earnings growth (-56.3%) over the past year, making it difficult to compare to the Real Estate industry average (3.9%).


Return on Equity

High ROE: 208's Return on Equity (5.1%) is considered low.


Next Steps

Financial Health

How is Polytec Asset Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 208's short term assets (HK$2.9B) exceed its short term liabilities (HK$194.8M).

Long Term Liabilities: 208's short term assets (HK$2.9B) exceed its long term liabilities (HK$2.6B).


Debt to Equity History and Analysis

Debt Level: 208's debt to equity ratio (18.6%) is considered satisfactory.

Reducing Debt: 208's debt to equity ratio has reduced from 19% to 18.6% over the past 5 years.

Debt Coverage: 208's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: 208's interest payments on its debt are well covered by EBIT (7.8x coverage).


Balance Sheet


Next Steps

Dividend

What is Polytec Asset Holdings's current dividend yield, its reliability and sustainability?

9.48%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 208's dividend (9.48%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.31%).

High Dividend: 208's dividend (9.48%) is in the top 25% of dividend payers in the Hong Kong market (6.79%)


Stability and Growth of Payments

Stable Dividend: 208's dividend payments have been volatile in the past 10 years.

Growing Dividend: 208's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (45.8%), 208's dividend payments are well 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?

14.3yrs

Average board tenure


CEO

Kwok Kwong Yeung (61yo)

19.83yrs

Tenure

HK$3,296,000

Compensation

Mr. Kwok Kwong Yeung has been the Managing Director of Polytec Asset Holdings Limited (formerly Kin Don Holdings Limited) since September 2000. Mr. Yeung is responsible for the development of corporate str ...


CEO Compensation Analysis

Compensation vs Market: Kwok Kwong's total compensation ($USD425.24K) is above average for companies of similar size in the Hong Kong market ($USD322.00K).

Compensation vs Earnings: Kwok Kwong's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Wai Sheun Or
Executive Chairman 14.25yrsno data1.87% HK$64.0m
Kwok Kwong Yeung
MD & Executive Director19.83yrsHK$3.30m0.045% HK$1.6m
Yuk Ching Wong
Executive Director 18.5yrsHK$2.02m0.15% HK$5.2m
Koc Ieng Chio
Executive Director14.25yrsHK$2.00m0.0066% HK$225.2k
Ka Fai Lai
Non-Executive Director19.83yrsHK$400.00k0.011% HK$389.0k
Kwong Sang Liu
Independent Non-Executive Director20yrsHK$400.00kno data
Wai Ling Tsui
Independent Non-Executive Director7.58yrsHK$400.00kno data
Pui Ying Or
Non-Executive Director9yrsHK$400.00k0.16% HK$5.4m
Geok Tien Teo
Independent Non-Executive Director7.58yrsHK$400.00kno data

14.3yrs

Average Tenure

61yo

Average Age

Experienced Board: 208's board of directors are seasoned and experienced ( 14.3 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

Polytec Asset Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Polytec Asset Holdings Limited
  • Ticker: 208
  • Exchange: SEHK
  • Founded: 1998
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: HK$3.418b
  • Shares outstanding: 4.44b
  • Website: https://www.polytecasset.com

Number of Employees


Location

  • Polytec Asset Holdings Limited
  • Pioneer Centre
  • 23rd Floor
  • Kowloon
  • Kowloon
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KID1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 1998
208SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDSep 1998

Biography

Polytec Asset Holdings Limited, an investment holding company, primarily invests in, develops, and trades in real estate properties in the People’s Republic of China and Kazakhstan. The company operates through four segments: Properties, Oil, Ice and Cold Storage, and Financial Investments. It develops residential and commercial properties. The company has a development land bank of 294,000 square meters; and investment land bank of approximately 18,000 square meters in Macau. It is also involved in the oil exploration and production activities in Kazakhstan; manufacturing and trading ice; the provision of cold storage and consultancy services; and general trading activities. In addition, the company involved in equity and debt securities. The company was formerly known as Kin Don Holdings Limited and changed its name to Polytec Asset Holdings Limited in January 2004. The company was incorporated in 1998 and is headquartered in Kowloon, Hong Kong. Polytec Asset Holdings Limited is a subsidiary of Marble King International Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/11 12:39
End of Day Share Price2020/07/10 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.