Loading...

Polytec Asset Holdings

SEHK:208
Snowflake Description

Undervalued with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
208
SEHK
HK$5B
Market Cap
  1. Home
  2. HK
  3. Real Estate
Company description

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 last earnings update was 54 days ago. More info.


Add to Portfolio Compare Print
208 Share Price and Events
7 Day Returns
0%
SEHK:208
-1.8%
HK Real Estate
-2%
HK Market
1 Year Returns
58.5%
SEHK:208
-7.6%
HK Real Estate
-13.2%
HK Market
208 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Polytec Asset Holdings (208) 0% -5.5% 12% 58.5% 98.1% -14.9%
HK Real Estate -1.8% -1.6% -7.7% -7.6% 50.5% 50.7%
HK Market -2% -2.7% -9.8% -13.2% 18.1% 4.3%
1 Year Return vs Industry and Market
  • 208 outperformed the Real Estate industry which returned -7.6% over the past year.
  • 208 outperformed the Market in Hong Kong which returned -13.2% over the past year.
Price Volatility
208
Industry
5yr Volatility vs Market

208 Value

 Is Polytec Asset Holdings undervalued based on future cash flows and its price relative to the stock market?

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 Polytec Asset 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Polytec Asset Holdings.

SEHK:208 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 11.1%
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.

Calculation of Discount Rate/ Cost of Equity for SEHK:208
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.03 (1 + (1- 25%) (68.1%))
1.372
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.37
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.372 * 6.65%)
11.13%

Discounted Cash Flow Calculation for SEHK:208 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Polytec Asset 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.

SEHK:208 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 11.13%)
2019 1,296.72 Est @ 97.69% 1,166.87
2020 2,191.22 Est @ 68.98% 1,774.33
2021 3,262.47 Est @ 48.89% 2,377.20
2022 4,398.53 Est @ 34.82% 2,884.04
2023 5,497.14 Est @ 24.98% 3,243.42
2024 6,491.27 Est @ 18.08% 3,446.44
2025 7,352.01 Est @ 13.26% 3,512.53
2026 8,078.61 Est @ 9.88% 3,473.15
2027 8,686.03 Est @ 7.52% 3,360.33
2028 9,195.40 Est @ 5.86% 3,201.14
Present value of next 10 years cash flows HK$28,439.46
SEHK:208 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$9,195.40 × (1 + 2%) ÷ (11.13% – 2%)
HK$102,781.13
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$102,781.13 ÷ (1 + 11.13%)10
HK$35,780.62
SEHK:208 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$28,439.46 + HK$35,780.62
HK$64,220.08
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$64,220.08 / 4,438.97
HK$14.47
SEHK:208 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$14.47
Current discount Discount to share price of HK$1.03
= -1 x (HK$1.03 - HK$14.47) / HK$14.47
92.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Polytec Asset Holdings is available for.
Intrinsic value
>50%
Share price is HK$1.03 vs Future cash flow value of HK$14.47
Current Discount Checks
For Polytec Asset Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Polytec Asset Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Polytec Asset 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 Polytec Asset Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Polytec Asset Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:208 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.36
SEHK:208 Share Price ** SEHK (2019-06-18) in HKD HK$1.03
Hong Kong Real Estate Industry PE Ratio Median Figure of 188 Publicly-Listed Real Estate Companies 6.21x
Hong Kong Market PE Ratio Median Figure of 1,488 Publicly-Listed Companies 10.66x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Polytec Asset Holdings.

SEHK:208 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:208 Share Price ÷ EPS (both in HKD)

= 1.03 ÷ 0.36

2.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Polytec Asset Holdings is good value based on earnings compared to the HK Real Estate industry average.
  • Polytec Asset Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Polytec Asset Holdings's expected growth come at a high price?
Raw Data
SEHK:208 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
4.1%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 467 Publicly-Listed Companies 0.75x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Polytec Asset Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Polytec Asset Holdings's assets?
Raw Data
SEHK:208 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$3.10
SEHK:208 Share Price * SEHK (2019-06-18) in HKD HK$1.03
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 2,170 Publicly-Listed Companies 0.93x
SEHK:208 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:208 Share Price ÷ Book Value per Share (both in HKD)

= 1.03 ÷ 3.10

0.33x

* Primary Listing of Polytec Asset Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Polytec Asset Holdings is good value based on assets compared to the HK Real Estate industry average.
X
Value checks
We assess Polytec Asset Holdings's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Polytec Asset Holdings has a total score of 5/6, 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.

208 Future Performance

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

  • No analysts cover Polytec Asset Holdings, future earnings growth has been estimated based on fundamentals.
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!
Annual Growth Rate
4.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Polytec Asset Holdings expected to grow at an attractive rate?
  • Polytec Asset Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Polytec Asset Holdings's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare Polytec Asset Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:208 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:208 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 4.1%
Hong Kong Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 5.3%
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%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.6%

*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
Raw Data
SEHK:208 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:208 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:208 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,593 662 1,619
2018-09-30 1,233 616 1,244
2018-06-30 873 569 869
2018-03-31 784 274 569
2017-12-31 694 -22 270
2017-09-30 445 -23 167
2017-06-30 195 -25 65
2017-03-31 203 -5 62
2016-12-31 211 15 59
2016-09-30 238 43 56
2016-06-30 265 72 53
2016-03-31 311 63 52

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Polytec Asset Holdings's earnings are expected to grow by 4.1% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Polytec Asset Holdings is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:208 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 0 Analyst Estimates (S&P Global) See Below

All data from Polytec Asset Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:208 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:208 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.36
2018-09-30 0.28
2018-06-30 0.20
2018-03-31 0.13
2017-12-31 0.06
2017-09-30 0.04
2017-06-30 0.01
2017-03-31 0.01
2016-12-31 0.01
2016-09-30 0.01
2016-06-30 0.01
2016-03-31 0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Polytec Asset Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Polytec Asset Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Polytec Asset Holdings has a total score of 1/6, 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.

208 Past Performance

  How has Polytec Asset 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
Below we compare Polytec Asset Holdings's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Polytec Asset Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Polytec Asset Holdings's 1-year earnings growth exceeds its 5-year average (500.5% vs 82%)
  • Polytec Asset Holdings's earnings growth has exceeded the HK Real Estate industry average in the past year (500.5% vs 6.3%).
Earnings and Revenue History
Polytec Asset Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Polytec Asset Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:208 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,592.85 1,618.55 96.60
2018-09-30 1,233.08 1,243.83 95.97
2018-06-30 873.31 869.11 95.34
2018-03-31 783.60 569.32 95.19
2017-12-31 693.88 269.52 95.03
2017-09-30 444.54 167.29 95.57
2017-06-30 195.19 65.06 96.10
2017-03-31 203.24 62.13 96.64
2016-12-31 211.29 59.20 97.18
2016-09-30 237.97 56.18 106.31
2016-06-30 264.65 53.17 115.45
2016-03-31 311.08 52.42 140.81
2015-12-31 357.52 51.67 166.18
2015-09-30 378.20 53.66 170.52
2015-06-30 398.88 55.66 174.86
2015-03-31 346.76 49.66 152.31
2014-12-31 294.64 43.66 129.77
2014-09-30 307.81 9.41 114.72
2014-06-30 320.97 -24.84 99.67
2014-03-31 302.64 -10.23 97.75
2013-12-31 284.30 4.38 95.83
2013-09-30 388.46 112.09 163.50
2013-06-30 492.63 219.81 231.17
2013-03-31 612.19 253.90 266.22
2012-12-31 731.76 287.99 301.28
2012-09-30 579.46 238.53 243.45
2012-06-30 427.16 189.07 185.61

*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.
  • Polytec Asset Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Polytec Asset Holdings used its assets more efficiently than the HK Real Estate industry average last year based on Return on Assets.
  • Polytec Asset Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Polytec Asset Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Polytec Asset Holdings has a total score of 5/6, 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.

208 Health

 How is Polytec Asset 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 Polytec Asset Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Polytec Asset Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Polytec Asset Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Polytec Asset Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.9x 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.
Raw Data

All data from Polytec Asset Holdings Company Filings, last reported 5 months ago.

SEHK:208 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 13,751.28 3,113.45 292.60
2018-09-30 13,751.28 3,113.45 292.60
2018-06-30 12,833.13 2,255.67 265.99
2018-03-31 12,833.13 2,255.67 265.99
2017-12-31 12,274.88 2,298.47 271.11
2017-09-30 12,274.88 2,298.47 271.11
2017-06-30 12,552.30 2,036.98 215.08
2017-03-31 12,552.30 2,036.98 215.08
2016-12-31 12,446.62 1,997.51 170.26
2016-09-30 12,446.62 1,997.51 170.26
2016-06-30 10,908.64 2,353.02 511.37
2016-03-31 10,908.64 2,353.02 511.37
2015-12-31 11,177.74 2,436.36 575.29
2015-09-30 11,177.74 2,436.36 575.29
2015-06-30 11,284.95 2,139.80 221.39
2015-03-31 11,284.95 2,139.80 221.39
2014-12-31 11,256.75 2,133.55 235.91
2014-09-30 11,256.75 2,133.55 235.91
2014-06-30 11,249.83 2,130.01 186.01
2014-03-31 11,249.83 2,130.01 186.01
2013-12-31 10,963.06 2,247.68 218.03
2013-09-30 10,963.06 2,247.68 218.03
2013-06-30 10,729.89 2,145.21 258.89
2013-03-31 10,729.89 2,145.21 258.89
2012-12-31 10,624.96 2,093.50 276.88
2012-09-30 10,624.96 2,093.50 276.88
2012-06-30 10,496.49 2,028.26 259.32
  • Polytec Asset Holdings's level of debt (22.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (20.5% vs 22.6% today).
  • Debt is well covered by operating cash flow (21.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 27.6x coverage).
X
Financial health checks
We assess Polytec Asset Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Polytec Asset Holdings has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

208 Dividends

 What is Polytec Asset 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
Dividend payments
9.22%
Current annual income from Polytec Asset Holdings dividends.
If you bought HK$2,000 of Polytec Asset Holdings shares you are expected to receive HK$184 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Polytec Asset Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.1%).
  • Polytec Asset Holdings's dividend is above 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.
Raw Data
SEHK:208 Annualized Past and Future Dividends
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 0 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 5.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:208 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
SEHK:208 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-06-05 0.095 9.096
2018-08-22 0.032 3.944
2018-06-27 0.022 2.854
2017-04-26 0.007 1.111
2016-04-27 0.007 1.253
2015-04-23 0.007 0.814
2015-03-18 0.007 0.647
2014-09-24 0.004 0.372
2014-08-27 0.004 0.340
2014-04-29 0.014 1.172
2014-03-26 0.014 1.165
2013-04-26 0.024 2.370
2013-03-27 0.024 2.398
2012-08-28 0.024 2.552
2012-03-29 0.024 3.194
2011-03-30 0.024 2.799
2010-08-30 0.024 1.849
2010-03-22 0.023 1.668

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Polytec Asset Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Polytec Asset Holdings only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Polytec Asset Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Polytec Asset Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Polytec Asset Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Polytec Asset 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.

208 Management

 What is the CEO of Polytec Asset Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Kwok Kwong Yeung
COMPENSATION HK$3,183,000
AGE 59
TENURE AS CEO 18.8 years
CEO Bio

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 strategies, corporate planning and the day-to-day management of the Group. He has over 25 years of experience in finance, accounting, financial and operational management and corporate planning. Prior to Polytec Asset Holdings Limited, he worked for a large international accountancy firm and also held managerial and director positions in a number of large companies. He served as the Chairman of Polytec Asset Holdings Inc. from September 2000 to April 1, 2006. He has been a Non-Executive Director at Kowloon Development Co., Ltd., since January 16, 2002. He has been an Executive Director of Polytec Asset Holdings Limited since September 2000. He serves as a Director of Marble King International Limited. Mr. Yeung is a fellow member of both the Hong Kong Society of Accountants and the Association of Chartered Certified Accountants in the United Kingdom.

CEO Compensation
  • Kwok Kwong's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Kwok Kwong's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Johnny Or

TITLE
Executive Chairman
AGE
66

Kwok Kwong Yeung

TITLE
MD & Executive Director
COMPENSATION
HK$3M
AGE
59
TENURE
18.8 yrs

Yuk Ching Wong

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
61

Koc Ieng Chio

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
51

Chi Ming Lee

TITLE
Company Secretary
AGE
42
TENURE
4.5 yrs
Board of Directors Tenure

Average tenure and age of the Polytec Asset Holdings board of directors in years:

13.2
Average Tenure
59
Average Age
  • The average tenure for the Polytec Asset Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Johnny Or

TITLE
Executive Chairman
AGE
66
TENURE
13.2 yrs

Kwok Kwong Yeung

TITLE
MD & Executive Director
COMPENSATION
HK$3M
AGE
59
TENURE
18.8 yrs

Yuk Ching Wong

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
61
TENURE
17.4 yrs

Koc Ieng Chio

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
51
TENURE
13.2 yrs

Kwong Sang Liu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$190K
AGE
56
TENURE
18.9 yrs

Carlye Tsui

TITLE
Independent Non-Executive Director
COMPENSATION
HK$190K
AGE
70
TENURE
6.5 yrs

Dickson Lai

TITLE
Non-Executive Director
COMPENSATION
HK$190K
AGE
55
TENURE
18.8 yrs

Peranza Or

TITLE
Non-Executive Director
COMPENSATION
HK$190K
AGE
38
TENURE
7.9 yrs

Maurice Teo

TITLE
Independent Non-Executive Director
COMPENSATION
HK$190K
AGE
71
TENURE
6.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
31. Dec 18 Buy Wai Sheun Or Individual 28. Dec 18 28. Dec 18 27,750 HK$0.68 HK$18,870
X
Management checks
We assess Polytec Asset Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Polytec Asset 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.

208 News

Simply Wall St News

Is Polytec Asset Holdings Limited's (HKG:208) CEO Paid Enough Relative To Peers?

View our latest analysis for Polytec Asset Holdings How Does Kwok Kwong Yeung's Compensation Compare With Similar Sized Companies? … It would therefore appear that Polytec Asset Holdings Limited pays Kwok Kwong Yeung more than the median CEO remuneration at companies of a similar size, in the same market. … We compared total CEO remuneration at Polytec Asset Holdings Limited with the amount paid at companies with a similar market capitalization.

Simply Wall St -

Why Polytec Asset Holdings Limited (HKG:208) Could Be Your Next Investment

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … In the case of Polytec Asset Holdings Limited (HKG:208), there's

Simply Wall St -

Should Polytec Asset Holdings (HKG:208) Be Disappointed With Their 32% Profit?

For example, the Polytec Asset Holdings Limited (HKG:208) share price is up 32% in the last three years, clearly besting than the market return of around 26% (not including dividends). … Polytec Asset Holdings was able to grow its EPS at 150% per year over three years, sending the share price higher. … It might be well worthwhile taking a look at our free report on Polytec Asset Holdings's earnings, revenue and cash flow.

Simply Wall St -

Is Polytec Asset Holdings Limited (HKG:208) An Attractive Dividend Stock?

Historically, Polytec Asset Holdings Limited (HKG:208) has been paying a dividend to shareholders. … Does Polytec Asset Holdings tick all the boxes of a great dividend stock? … View our latest analysis for Polytec Asset Holdings

Simply Wall St -

Is Polytec Asset Holdings Limited's (HKG:208) CEO Salary Justified?

In 2000 Kwok Kwong Yeung was appointed CEO of Polytec Asset Holdings Limited (HKG:208). … Check out our latest analysis for Polytec Asset Holdings? … How Does Kwok Kwong Yeung's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Polytec Asset Holdings Limited (HKG:208): Time For A Financial Health Check

However, an important fact which most ignore is: how financially healthy is the business? … Assessing first and foremost the financial health is. … Here are a few basic checks that are good enough to have a broad overview of the company’s financial strength.

Simply Wall St -

Polytec Asset Holdings Limited (HKG:208) Will Pay HK$0.012 In Dividends

Investors who want to cash in on Polytec Asset Holdings Limited's (HKG:208) upcoming dividend of HK$0.012 per share have only 2 days left to buy the shares before its ex-dividend date, 23 November 2018, in time for dividends payable on the 12 December 2018. … Below, I will explain how holding Polytec Asset Holdings can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … See our latest analysis for Polytec Asset Holdings?

Simply Wall St -

Will Polytec Asset Holdings Limited (HKG:208) Continue To Underperform Its Industry?

Over the last twelve months Polytec Asset Holdings has recorded a ROE of 6.8%. … That means that for every HK$1 worth of shareholders' equity, it generated HK$0.068 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What You Must Know About Polytec Asset Holdings Limited's (HKG:208) Financial Strength

While small-cap stocks, such as Polytec Asset Holdings Limited (HKG:208) with its market cap of HK$3.73b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

Only 2 Days Left To Polytec Asset Holdings Limited (HKG:208)’s Ex-Dividend Date, Should Investors Buy?

If you are interested in cashing in on Polytec Asset Holdings Limited's (HKG:208) upcoming dividend of HK$0.02 per share, you only have 2 days left to buy the shares before its ex-dividend date, 05 July 2018, in time for dividends payable on the 25 July 2018. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Polytec Asset Holdings's latest financial data to analyse its dividend characteristics. … Check out our latest analysis for Polytec Asset Holdings

Simply Wall St -

208 Company Info

Description

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 three segments: Properties, Oil, and Ice and Cold Storage. It develops residential and commercial properties. The company has a development land bank of 400,000 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. 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.

Details
Name: Polytec Asset Holdings Limited
208
Exchange: SEHK
Founded: 1998
HK$4,572,136,873
4,438,967,838
Website: http://www.polytecasset.com
Address: Polytec Asset Holdings Limited
Pioneer Centre,
23rd Floor,
Kowloon,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 208 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 09. Sep 1998
DB KID1 Ordinary Shares Deutsche Boerse AG DE EUR 09. Sep 1998
Number of employees
Current staff
Staff numbers
260
Polytec Asset Holdings employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 12:31
End of day share price update: 2019/06/18 00:00
Last estimates confirmation: 2018/03/27
Last earnings filing: 2019/04/26
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.