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Forebase International Holdings

SEHK:2310
Snowflake Description

Mediocre balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2310
SEHK
HK$266M
Market Cap
  1. Home
  2. HK
  3. Real Estate
Company description

Forebase International Holdings Limited, an investment holding company, engages in the hotel operation in Canada and provision of property management services in the People’s Republic of China. The last earnings update was 59 days ago. More info.


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  • Forebase International Holdings has significant price volatility in the past 3 months.
2310 Share Price and Events
7 Day Returns
-3.8%
SEHK:2310
2.4%
HK Real Estate
3.9%
HK Market
1 Year Returns
-23.5%
SEHK:2310
-4.7%
HK Real Estate
-9.3%
HK Market
2310 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Forebase International Holdings (2310) -3.8% 31.6% 25% -23.5% -77.5% -84.3%
HK Real Estate 2.4% 3.7% -4.5% -4.7% 55.9% 53.4%
HK Market 3.9% 3.7% -5.6% -9.3% 24.9% 7.4%
1 Year Return vs Industry and Market
  • 2310 underperformed the Real Estate industry which returned -4.7% over the past year.
  • 2310 underperformed the Market in Hong Kong which returned -9.3% over the past year.
Price Volatility
2310
Industry
5yr Volatility vs Market

2310 Value

 Is Forebase International 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 Forebase International 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 Forebase International Holdings.

SEHK:2310 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 10.1%
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:2310
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))
= 1.035 (1 + (1- 25%) (37.42%))
1.218
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.218 * 6.65%)
10.1%

Discounted Cash Flow Calculation for SEHK:2310 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Forebase International 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:2310 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 10.1%)
2019 4.23 Est @ 79.44% 3.84
2020 6.61 Est @ 56.21% 5.45
2021 9.25 Est @ 39.95% 6.93
2022 11.89 Est @ 28.56% 8.09
2023 14.34 Est @ 20.6% 8.86
2024 16.49 Est @ 15.02% 9.26
2025 18.33 Est @ 11.11% 9.34
2026 19.86 Est @ 8.38% 9.20
2027 21.15 Est @ 6.47% 8.89
2028 22.23 Est @ 5.13% 8.49
Present value of next 10 years cash flows HK$78.37
SEHK:2310 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$22.23 × (1 + 2%) ÷ (10.1% – 2%)
HK$280.05
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$280.05 ÷ (1 + 10.1%)10
HK$106.99
SEHK:2310 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$78.37 + HK$106.99
HK$185.36
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$185.36 / 728.58
HK$0.25
SEHK:2310 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.25
Current discount Discount to share price of HK$0.38
= -1 x (HK$0.38 - HK$0.25) / HK$0.25
-47.4%

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

  • The current share price of Forebase International Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Forebase International Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Forebase International Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2310 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$-0.04
SEHK:2310 Share Price ** SEHK (2019-06-21) in HKD HK$0.38
Hong Kong Real Estate Industry PE Ratio Median Figure of 188 Publicly-Listed Real Estate Companies 6.29x
Hong Kong Market PE Ratio Median Figure of 1,489 Publicly-Listed Companies 10.87x

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

** Primary Listing of Forebase International Holdings.

SEHK:2310 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2310 Share Price ÷ EPS (both in HKD)

= 0.38 ÷ -0.04

-9.13x

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

  • Forebase International Holdings is loss making, we can't compare its value to the HK Real Estate industry average.
  • Forebase International Holdings is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does Forebase International Holdings's expected growth come at a high price?
Raw Data
SEHK:2310 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -9.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
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 469 Publicly-Listed Companies 0.78x

*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 Forebase International Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Forebase International Holdings's assets?
Raw Data
SEHK:2310 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$0.10
SEHK:2310 Share Price * SEHK (2019-06-21) in HKD HK$0.38
Hong Kong Real Estate Industry PB Ratio Median Figure of 229 Publicly-Listed Real Estate Companies 0.57x
Hong Kong Market PB Ratio Median Figure of 2,171 Publicly-Listed Companies 0.93x
SEHK:2310 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2310 Share Price ÷ Book Value per Share (both in HKD)

= 0.38 ÷ 0.10

3.92x

* Primary Listing of Forebase International Holdings.

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

  • Forebase International Holdings is overvalued based on assets compared to the HK Real Estate industry average.
X
Value checks
We assess Forebase International 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. Forebase International Holdings has a total score of 0/6, 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.

2310 Future Performance

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

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 Forebase International 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
5.6%
Expected Real Estate industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Forebase International Holdings expected to grow at an attractive rate?
  • Unable to compare Forebase International Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Forebase International Holdings's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare Forebase International Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:2310 Future Growth Rates Data Sources
Data Point Source Value (per year)
Hong Kong Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 5.6%
Hong Kong Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 16.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.1%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*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:2310 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:2310 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 95 5 -22
2018-09-30 92 0 -24
2018-06-30 90 -5 -25
2018-03-31 89 -6 -24
2017-12-31 88 -6 -23
2017-09-30 87 -22 -22
2017-06-30 87 -37 -22
2017-03-31 86 -30 -24
2016-12-31 85 -23 -26
2016-06-30 260 -62 -4
2016-03-31 337 -75 -17

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Forebase International Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if Forebase International 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:2310 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 Forebase International Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2310 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 -0.04
2018-09-30 -0.05
2018-06-30 -0.05
2018-03-31 -0.05
2017-12-31 -0.05
2017-09-30 -0.05
2017-06-30 -0.05
2017-03-31 -0.06
2016-12-31 -0.06
2016-06-30 -0.01
2016-03-31 -0.05

*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 Forebase International Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Forebase International Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Real Estate companies here
  2. Forebase International Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Forebase International 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.
Forebase International Holdings has a total score of 0/6, 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.

2310 Past Performance

  How has Forebase International 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 Forebase International 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.
  • Forebase International Holdings does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Forebase International Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Forebase International Holdings's 1-year growth to the HK Real Estate industry average as it is not currently profitable.
Earnings and Revenue History
Forebase International 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 Forebase International Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2310 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 94.58 -21.82 46.15
2018-09-30 92.47 -23.50 44.37
2018-06-30 90.36 -25.19 42.58
2018-03-31 88.97 -23.97 42.43
2017-12-31 87.59 -22.75 42.29
2017-09-30 87.29 -22.14 43.89
2017-06-30 87.00 -21.54 45.50
2017-03-31 85.97 -23.86 40.02
2016-12-31 84.94 -26.18 34.54
2016-06-30 260.49 -3.83 28.03 3.29
2016-03-31 336.88 -16.56 35.91 4.48
2015-12-31 413.26 -29.29 43.80 5.66
2015-09-30 385.59 -81.78 47.58 8.26
2015-06-30 385.06 -85.91 48.44 10.86
2015-03-31 366.80 -88.86 46.84 12.00
2014-12-31 348.53 -91.81 45.25 13.14
2014-09-30 332.44 -84.76 43.75 13.58
2014-06-30 316.35 -77.70 42.24 14.03
2014-03-31 307.53 -65.29 38.50 12.54
2013-12-31 298.72 -52.88 34.75 11.06
2013-06-30 325.27 -18.78 16.61 6.31
2013-03-31 344.41 -21.21 19.16 10.45
2012-12-31 363.55 -23.64 21.72 14.59
2012-06-30 475.46 -40.98 27.16 32.40

*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.
  • It is difficult to establish if Forebase International Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Forebase International Holdings has efficiently used its assets last year compared to the HK Real Estate industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Forebase International Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Forebase International 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.
Forebase International Holdings has a total score of 0/6, 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.

2310 Health

 How is Forebase International 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 Forebase International Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Forebase International Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Forebase International Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Forebase International 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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x 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 Forebase International Holdings Company Filings, last reported 5 months ago.

SEHK:2310 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 64.12 99.51 10.48
2018-09-30 64.12 99.51 10.48
2018-06-30 35.26 150.08 25.31
2018-03-31 35.26 150.08 25.31
2017-12-31 6.25 136.99 15.68
2017-09-30 6.25 136.99 15.68
2017-06-30 15.98 144.80 29.93
2017-03-31 15.98 144.80 29.93
2016-12-31 5.51 80.05 70.85
2016-06-30 87.30 179.20 57.75
2016-03-31 87.30 179.20 57.75
2015-12-31 -34.55 102.31 77.99
2015-09-30 -78.54 238.14 72.12
2015-06-30 -20.22 188.44 67.99
2015-03-31 -20.22 188.44 67.99
2014-12-31 21.09 178.69 61.97
2014-09-30 21.09 178.69 61.97
2014-06-30 79.90 157.60 87.48
2014-03-31 79.90 157.60 87.48
2013-12-31 131.59 149.94 88.85
2013-06-30 150.85 18.87 81.41
2013-03-31 150.85 18.87 81.41
2012-12-31 166.77 19.55 107.34
2012-06-30 292.42 78.45 74.01
  • Forebase International Holdings's level of debt (155.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (114.5% vs 155.2% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Forebase International Holdings has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Forebase International Holdings has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -96.6% per year.
X
Financial health checks
We assess Forebase International 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. Forebase International Holdings has a total score of 3/6, 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.

2310 Dividends

 What is Forebase International 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
0%
Current annual income from Forebase International Holdings dividends.
If you bought HK$2,000 of Forebase International Holdings shares you are expected to receive HK$0 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?
  • Unable to evaluate Forebase International Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Forebase International Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:2310 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%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 Stocks 3.6%
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:2310 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2011-09-15 0.000 0.000
2010-04-21 0.000 0.000
2010-03-29 0.000 0.000
2009-09-21 0.000 0.000

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

  • Unable to perform a dividend volatility check as Forebase International Holdings has not reported any payouts.
  • Unable to verify if Forebase International Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Forebase International Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Forebase International Holdings has not reported any payouts.
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 Forebase International 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 Forebase International Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Forebase International Holdings has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

2310 Management

 What is the CEO of Forebase International 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
Huan Pang
AGE 54
TENURE AS CEO 0 years
CEO Bio

Mr. Huan Kun Pang has been Executive Director and Chief Executive Officer at Forebase International Holdings Limited since June 11 , 2019. Mr. Pang holds graduated from Qingdao University of Technology with a degree in industrial and civil engineering in 1984 and graduated from Cheung Kong Graduate School of Business EMBA in 2015. Mr. Pang had held various senior management positions in a central enterprise of a China State-owned Assets Supervision and Administration Commission.

CEO Compensation
  • Insufficient data for Huan to compare compensation growth.
  • Insufficient data for Huan to establish whether their remuneration is reasonable compared to companies of similar size in Hong Kong.
Management Team

Yong Shen

TITLE
Chairman of the Board
AGE
55

Huan Pang

TITLE
CEO & Executive Director
AGE
54

Frankie Leung

TITLE
CFO & Company Secretary
AGE
44
TENURE
4.7 yrs

Chang Choi

TITLE
Head of Purchasing & Material Management Group and General Manager
AGE
57

Don Lee

TITLE
Head of Automotive Electronics Sales Group and General Manager
AGE
54

Yi Wang

TITLE
Executive Director
AGE
58
Board of Directors Tenure

Average tenure and age of the Forebase International Holdings board of directors in years:

6.4
Average Tenure
58
Average Age
  • The tenure for the Forebase International Holdings board of directors is about average.
Board of Directors

Yong Shen

TITLE
Chairman of the Board
AGE
55
TENURE
6.4 yrs

Huan Pang

TITLE
CEO & Executive Director
AGE
54

Yi Wang

TITLE
Executive Director
AGE
58

Lei Yu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$120K
AGE
47
TENURE
6.4 yrs

Jimmy Loke

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
68
TENURE
3.2 yrs

Ernst Rudolf Zimmermann

TITLE
Independent Non-Executive Director
COMPENSATION
HK$180K
AGE
69
TENURE
6.4 yrs

Xiang Yang Huang

TITLE
Non-Executive Director
COMPENSATION
HK$797K
AGE
63
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
04. Jan 19 Buy Yong Shen Individual 31. Dec 18 31. Dec 18 123,648,678 HK$0.34 HK$42,288,097
17. Dec 18 Sell Lin Gan Individual 11. Dec 18 11. Dec 18 -596,000 HK$0.34 HK$-205,619
11. Dec 18 Buy Yong Shen Individual 07. Dec 18 07. Dec 18 14,000 HK$0.32 HK$4,480
10. Dec 18 Buy Yong Shen Individual 06. Dec 18 06. Dec 18 100,000 HK$0.32 HK$32,000
04. Dec 18 Buy Yong Shen Individual 03. Dec 18 03. Dec 18 116,000 HK$0.31 HK$36,111
05. Dec 18 Buy Yong Shen Individual 04. Dec 18 04. Dec 18 96,000 HK$0.32 HK$30,720
27. Nov 18 Buy Yong Shen Individual 23. Nov 18 23. Nov 18 200,000 HK$0.30 HK$60,000
20. Nov 18 Buy Yong Shen Individual 19. Nov 18 19. Nov 18 638,000 HK$0.30 HK$190,890
19. Nov 18 Buy Yong Shen Individual 16. Nov 18 16. Nov 18 1,420,000 HK$0.28 HK$394,193
13. Nov 18 Buy Lin Gan Individual 08. Nov 18 08. Nov 18 6,000 HK$0.32 HK$1,940
24. Oct 18 Sell Ultra Harvest Limited Company 22. Oct 18 22. Oct 18 -29,200,000 HK$0.27 HK$-7,758,423
18. Oct 18 Buy Lin Gan Individual 12. Oct 18 12. Oct 18 24,000 HK$0.33 HK$7,920
15. Oct 18 Buy Yong Shen Individual 12. Oct 18 12. Oct 18 500,000 HK$0.33 HK$164,999
12. Oct 18 Buy Yong Shen Individual 11. Oct 18 11. Oct 18 200,000 HK$0.33 HK$66,000
04. Oct 18 Buy Lin Gan Individual 02. Oct 18 02. Oct 18 92,000 HK$0.35 HK$32,200
03. Oct 18 Buy Lin Gan Individual 28. Sep 18 28. Sep 18 140,000 HK$0.36 HK$49,700
27. Sep 18 Buy Lin Gan Individual 26. Sep 18 26. Sep 18 126,000 HK$0.36 HK$45,360
26. Sep 18 Buy Lin Gan Individual 20. Sep 18 20. Sep 18 18,000 HK$0.36 HK$6,511
14. Sep 18 Sell Sincere King Limited Company 06. Aug 18 06. Aug 18 -4,500,000 HK$0.43 HK$-1,957,484
11. Sep 18 Buy Lin Gan Individual 07. Sep 18 07. Sep 18 90,000 HK$0.34 HK$30,600
10. Sep 18 Buy Lin Gan Individual 06. Sep 18 06. Sep 18 14,000 HK$0.34 HK$4,760
25. Jul 18 Buy Yong Shen Individual 20. Jul 18 20. Jul 18 48,000 HK$0.40 HK$19,200
24. Jul 18 Buy Yong Shen Individual 19. Jul 18 19. Jul 18 52,000 HK$0.40 HK$20,800
20. Jul 18 Buy Yong Shen Individual 18. Jul 18 18. Jul 18 50,000 HK$0.40 HK$20,000
18. Jul 18 Buy Yong Shen Individual 17. Jul 18 17. Jul 18 600,000 HK$0.40 HK$239,758
03. Jul 18 Buy Yong Shen Individual 03. Jul 18 03. Jul 18 1,000,000 HK$0.48 HK$481,998
X
Management checks
We assess Forebase International 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. Forebase International 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.

2310 News

Simply Wall St News

What does Forebase International Holdings Limited's (HKG:2310) Balance Sheet Tell Us About Its Future?

While small-cap stocks, such as Forebase International Holdings Limited (HKG:2310) with its market cap of HK$256.81m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Does Forebase International Holdings Limited (HKG:2310) Need To Raise More Cash?

Looking at Forebase International Holdings’s latest financial data, I will gauge when the company may run out of cash and need to raise more money. … The measure of how fast Forebase International Holdings goes through its cash reserves over time is called the cash burn rate. … Though, if opex continues to rise at this rate, given how much cash reserves Forebase International Holdings currently has, it will actually need to raise capital again within the next couple of months!

Simply Wall St -

What Does Forebase International Holdings Limited's (HKG:2310) Ownership Structure Look Like?

In this article, I'm going to take a look at Forebase International Holdings Limited’s (SEHK:2310) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … With this size of ownership, retail investors can collectively play a role in major company policies that affect shareholders returns, including executive remuneration and the appointment of directors. … As a result, potential investors should further explore the company's business relations with these companies and find out if they can affect shareholder returns in the long-term.Next Steps: With a low level of institutional ownership, investors in 2310 need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

Simply Wall St -

What Are The Drivers Of Forebase International Holdings Limited's (HKG:2310) Risks?

Based on this beta value, 2310 appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … 2310, with its market capitalisation of HK$196.71M, is a small-cap stock, which generally have higher beta than similar companies of larger size. … However, this is the opposite to what 2310’s actual beta value suggests, which is lower stock volatility relative to the market.

Simply Wall St -

Does Forebase International Holdings Limited's (HKG:2310) Earnings Growth Make It An Outperformer?

After reading Forebase International Holdings Limited's (SEHK:2310) most recent earnings announcement (31 December 2017), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … See our latest analysis for Forebase International Holdings How Did 2310's Recent Performance Stack Up Against Its Past? … For Forebase International Holdings, its latest earnings (trailing twelve month) is -HK$22.75M, which compared to the prior year's figure, has become less negative.

Simply Wall St -

Is Forebase International Holdings Limited's (HKG:2310) Balance Sheet A Threat To Its Future?

How does 2310’s operating cash flow stack up against its debt? … Moving onto cash from operations, its operating cash flow is not yet significant enough to calculate a meaningful cash-to-debt ratio, indicating that operational efficiency is something we’d need to take a look at. … Maintaining a high level of debt, while revenues are still below costs, can be dangerous as liquidity tends to dry up in unexpected downturns.Next Steps: 2310’s debt and cash flow levels indicate room for improvement.

Simply Wall St -

January Insights Into Tech Stocks: Forebase International Holdings Limited (HKG:2310)

Forebase International Holdings Limited (SEHK:2310), is a HK$187.13M small-cap, which operates in the tech hardware industry based in Hong Kong. … SEHK:2310 PE PEG Gauge Jan 24th 18 The tech hardware industry is trading at a PE ratio of 13.3x, relatively similar to the rest of the Hong Kong stock market PE of 14.5x. … Next Steps: Forebase International Holdings has been an tech industry laggard in the past year.

Simply Wall St -

Why Forebase International Holdings Limited's (HKG:2310) Investor Composition Impacts Your Returns

View our latest analysis for Forebase International Holdings SEHK:2310 Ownership_summary Jan 17th 18 Institutional Ownership Institutional investors transact in large blocks which can influence the momentum of stock prices, at least in the short-term, especially when there is a low level of public shares available on the market to trade. … Private Company Ownership Another important group of owners for potential investors in 2310 are private companies that hold a stake of 62.09% in 2310. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.What this means for you: Institutional ownership level and composition in 2310 is not high nor active enough to significantly impact its investment thesis.

Simply Wall St -

When Will Loss-Maker Forebase International Holdings Limited (HKG:2310) Need More Cash?

Additional cash raising may dilute the value of your shares, and since Forebase International Holdings is currently burning more cash than it is making, it’s likely the business will need funding for future growth. … Today I’ve examined Forebase International Holdings’s financial data from its most recent earnings update, to roughly assess when the company may need to raise new capital. … SEHK:2310 Income Statement Dec 21st 17 When will Forebase International Holdings need to raise more cash?

Simply Wall St -

All You Need To Know About Forebase International Holdings Limited's (HKG:2310) Risks

Based on this beta value, 2310 appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … Therefore, this is a type of risk which is associated with higher beta. … However, this is the opposite to what 2310’s actual beta value suggests, which is lower stock volatility relative to the market.

Simply Wall St -

2310 Company Info

Description

Forebase International Holdings Limited, an investment holding company, engages in the hotel operation in Canada and provision of property management services in the People’s Republic of China. It is also involved in the provision of services to the healthcare and senior care industry; and business management services. The company was formerly known as Kwang Sung Electronics H.K. Co. Limited and changed its name to Forebase International Holdings Limited in March 2013. The company was founded in 1991 and is based in Causeway Bay, Hong Kong. Forebase International Holdings Limited is a subsidiary of Ultra Harvest Limited.

Details
Name: Forebase International Holdings Limited
2310
Exchange: SEHK
Founded: 1991
HK$265,933,450
728,584,797
Website: http://www.forebase.com.hk
Address: Forebase International Holdings Limited
33 Hysan Avenue,
Room 3805,
Causeway Bay,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2310 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 04. Jul 2003
Number of employees
Current staff
Staff numbers
361
Forebase International Holdings employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/23 12:44
End of day share price update: 2019/06/21 00:00
Last earnings filing: 2019/04/25
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.