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Xinming China Holdings

SEHK:2699
Snowflake Description

Mediocre balance sheet with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2699
SEHK
HK$2B
Market Cap
  1. Home
  2. HK
  3. Real Estate
Company description

Xinming China Holdings Limited, an investment holding company, operates as an integrated residential and commercial property developer in the People’s Republic of China. The last earnings update was 57 days ago. More info.


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2699 Share Price and Events
7 Day Returns
-1.8%
SEHK:2699
-1.8%
HK Real Estate
-2%
HK Market
1 Year Returns
4.7%
SEHK:2699
-7.6%
HK Real Estate
-13.2%
HK Market
2699 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Xinming China Holdings (2699) -1.8% 3.7% -14.5% 4.7% -2.6% -
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
  • 2699 outperformed the Real Estate industry which returned -7.6% over the past year.
  • 2699 outperformed the Market in Hong Kong which returned -13.2% over the past year.
Price Volatility
2699
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Xinming China Holdings's competitors could be found in our database.

Value

 Is Xinming China 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 Xinming China 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 Xinming China Holdings.

SEHK:2699 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 11.8%
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:2699
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
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%) (121.45%))
1.648
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.65
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.648 * 5.96%)
11.83%

Discounted Cash Flow Calculation for SEHK:2699 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Xinming China 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:2699 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 11.83%)
2019 48.25 Est @ -8.53% 43.14
2020 45.66 Est @ -5.37% 36.51
2021 44.21 Est @ -3.16% 31.62
2022 43.50 Est @ -1.61% 27.82
2023 43.27 Est @ -0.53% 24.74
2024 43.37 Est @ 0.23% 22.18
2025 43.70 Est @ 0.76% 19.98
2026 44.20 Est @ 1.14% 18.07
2027 44.82 Est @ 1.4% 16.39
2028 45.52 Est @ 1.58% 14.89
Present value of next 10 years cash flows CN¥255.34
SEHK:2699 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥45.52 × (1 + 2%) ÷ (11.83% – 2%)
CN¥472.67
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥472.67 ÷ (1 + 11.83%)10
CN¥154.55
SEHK:2699 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥255.34 + CN¥154.55
CN¥409.89
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥409.89 / 1,878.62
CN¥0.22
SEHK:2699 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2699)
1.135
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0.22 x 1.135
HK$0.25
Value per share (HKD) From above. HK$0.25
Current discount Discount to share price of HK$1.12
= -1 x (HK$1.12 - HK$0.25) / HK$0.25
-352.4%

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

  • The current share price of Xinming China 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 Xinming China Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Xinming China Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2699 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.02
SEHK:2699 Share Price ** SEHK (2019-06-18) in HKD HK$1.12
SEHK:2699 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥0.99
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 Xinming China Holdings.

SEHK:2699 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2699 Share Price ÷ EPS (both in CNY)

= 0.99 ÷ 0.02

43.21x

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

  • Xinming China Holdings is overvalued based on earnings compared to the HK Real Estate industry average.
  • Xinming China Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Xinming China Holdings's expected growth come at a high price?
Raw Data
SEHK:2699 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 43.21x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
16.8%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 Xinming China Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Xinming China Holdings's assets?
Raw Data
SEHK:2699 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥1.07
SEHK:2699 Share Price * SEHK (2019-06-18) in HKD HK$1.12
SEHK:2699 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥0.99
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:2699 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2699 Share Price ÷ Book Value per Share (both in CNY)

= 0.99 ÷ 1.07

0.93x

* Primary Listing of Xinming China Holdings.

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

  • Xinming China Holdings is overvalued based on assets compared to the HK Real Estate industry average.
X
Value checks
We assess Xinming China 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. Xinming China 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.

Future Performance

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

  • No analysts cover Xinming China 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
16.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Xinming China Holdings expected to grow at an attractive rate?
  • Xinming China Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Xinming China Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare Xinming China Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:2699 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2699 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 16.8%
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:2699 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 CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2699 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 625 53 43
2018-06-30 2,093 9 335
2018-03-31 1,991 505 288
2017-12-31 1,888 1,001 240
2017-06-30 179 1,222 -147
2017-03-31 411 690 -68
2016-12-31 643 158 11
2016-09-30 771 -273 169
2016-06-30 882 -705 327
2016-03-31 1,115 -922 347

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Xinming China Holdings's earnings are expected to grow by 16.8% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Xinming China 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:2699 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 Xinming China Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2699 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.02
2018-06-30 0.18
2018-03-31 0.15
2017-12-31 0.13
2017-06-30 -0.08
2017-03-31 -0.04
2016-12-31 0.01
2016-09-30 0.09
2016-06-30 0.17
2016-03-31 0.20

*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 Xinming China Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Xinming China 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.
Xinming China Holdings has a total score of 2/6, 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.

Past Performance

  How has Xinming China 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 Xinming China 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.
  • Xinming China Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Xinming China Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Xinming China Holdings's 1-year earnings growth is negative, it can't be compared to the HK Real Estate industry average.
Earnings and Revenue History
Xinming China 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 Xinming China Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2699 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 624.77 42.91 131.40
2018-06-30 2,093.22 334.94 206.35
2018-03-31 1,990.70 287.69 229.72
2017-12-31 1,888.19 240.44 253.08
2017-06-30 179.36 -146.70 207.55
2017-03-31 411.02 -67.67 192.26
2016-12-31 642.68 11.36 176.97
2016-09-30 770.82 168.64 183.71
2016-06-30 881.59 327.07 188.38
2016-03-31 1,115.21 347.34 186.23
2015-12-31 1,348.82 367.62 184.08
2015-09-30 1,791.21 277.61 179.19
2015-06-30 2,233.61 187.60 174.31
2015-03-31 2,184.61 258.89 177.56
2014-12-31 2,135.61 330.18 180.82
2013-12-31 810.65 262.29 151.26
2012-12-31 1,045.84 207.77 115.33

*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.
  • Xinming China Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Xinming China Holdings used its assets less efficiently than the HK Real Estate industry average last year based on Return on Assets.
  • Xinming China Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Xinming China 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.
Xinming China 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.

Health

 How is Xinming China 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 Xinming China Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Xinming China Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Xinming China Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Xinming China 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 covered by short term assets, assets are 1.6x 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 Xinming China Holdings Company Filings, last reported 5 months ago.

SEHK:2699 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,091.16 2,251.99 144.29
2018-06-30 2,046.05 2,344.89 874.70
2018-03-31 2,046.05 2,344.89 874.70
2017-12-31 2,082.05 2,054.05 741.86
2017-06-30 1,736.59 1,999.86 497.71
2017-03-31 1,736.59 1,999.86 497.71
2016-12-31 1,940.54 3,009.46 621.00
2016-09-30 1,940.54 3,009.46 621.00
2016-06-30 1,969.68 3,186.08 502.75
2016-03-31 1,969.68 3,186.08 502.75
2015-12-31 1,910.20 2,998.08 665.85
2015-09-30 1,910.20 2,998.08 665.85
2015-06-30 1,047.28 2,436.35 180.86
2015-03-31 1,047.28 2,436.35 180.86
2014-12-31 940.90 1,656.77 691.07
2013-12-31 1,233.73 872.24 547.61
2012-12-31 1,086.22 1,191.63 207.94
  • Xinming China Holdings's level of debt (107.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (70.9% vs 107.7% today).
  • Debt is not well covered by operating cash flow (2.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.3x coverage).
X
Financial health checks
We assess Xinming China 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. Xinming China 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.

Dividends

 What is Xinming China 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 Xinming China Holdings dividends.
If you bought HK$2,000 of Xinming China 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 Xinming China Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Xinming China 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:2699 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.

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

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

Management

 What is the CEO of Xinming China 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
Chengshou Chen
COMPENSATION CN¥1,066,000
AGE 52
TENURE AS CEO 5.4 years
CEO Bio

Mr. Chengshou Chen has been Chairman and Chief Executive Officer and Executive Director of Xinming China Holdings Limited since January 16, 2014. Mr. Chen is the founder of Xinming China Holdings and is primarily responsible for corporate strategic planning and overall business development of Xinming China Group. He has 29 years of experience in the real estate industry. He is a Director at Bank of Wenzhou Co., Ltd. since November 2012. He has been the chairman of the board of Taizhou Xinming since February 2007 and the director of its certain subsidiaries.

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

Average tenure and age of the Xinming China Holdings management team in years:

2.6
Average Tenure
44
Average Age
  • The tenure for the Xinming China Holdings management team is about average.
Management Team

Chengshou Chen

TITLE
Chairman & CEO
COMPENSATION
CN¥1M
AGE
52
TENURE
5.4 yrs

Cizhao Feng

TITLE
CFO & Executive Director
COMPENSATION
CN¥112K
AGE
43

Jie Li

TITLE
Chief Executive Officer
AGE
44
TENURE
2.3 yrs

Francis Kam

TITLE
Chief Investment Officer & Company Secretary
AGE
51
TENURE
2.4 yrs

Hefei Ji

TITLE
Human Resources Director
AGE
36
TENURE
2.6 yrs

Xiaohui Zhu

TITLE
Chief Inspector of Cost Control Department
AGE
42
TENURE
3.4 yrs

Xiaolin Quan

TITLE
Joint Secretary
COMPENSATION
CN¥294K
AGE
46
Board of Directors Tenure

Average tenure and age of the Xinming China Holdings board of directors in years:

4
Average Tenure
47.5
Average Age
  • The tenure for the Xinming China Holdings board of directors is about average.
Board of Directors

Chengshou Chen

TITLE
Chairman & CEO
COMPENSATION
CN¥1M
AGE
52
TENURE
5.4 yrs

Cizhao Feng

TITLE
CFO & Executive Director
COMPENSATION
CN¥112K
AGE
43
TENURE
3.7 yrs

Roy Lo

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥219K
AGE
46
TENURE
4 yrs

Qiaoqin Gao

TITLE
Non-Executive Director
COMPENSATION
CN¥251K
AGE
49
TENURE
5 yrs

Jiong Gu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥219K
AGE
46
TENURE
4 yrs

Felix Fong

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥219K
AGE
67
TENURE
4 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$) Value (HK$)
X
Management checks
We assess Xinming China 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. Xinming China 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.

News

Simply Wall St News

Does Xinming China Holdings Limited (HKG:2699) Have A Particularly Volatile Share Price?

See our latest analysis for Xinming China Holdings What we can learn from 2699's beta value Zooming in on Xinming China Holdings, we see it has a five year beta of 0.86. … Very small companies often have a low beta value because their share prices are not well correlated with market volatility. … What this means for you: One potential advantage of owning low beta stocks like Xinming China Holdings is that your overall portfolio won't be too sensitive to overall market movements.

Simply Wall St -

What You Should Know About Xinming China Holdings Limited's (HKG:2699) Financial Strength

2699’s Debt (And Cash Flows) 2699 has built up its total debt levels in the last twelve months, from CN¥2.1b to CN¥2.3b – this includes long-term debt. … On top of this, 2699 has produced CN¥53m in operating cash flow during the same period of time, resulting in an operating cash to total debt ratio of 2.4%, signalling that 2699’s operating cash is less than its debt. … Next Steps: Although 2699’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised.

Simply Wall St -

Could Xinming China Holdings Limited's (HKG:2699) Investor Composition Influence The Stock Price?

If you want to know who really controls Xinming China Holdings Limited (HKG:2699), then you'll have to look at the makeup of its share registry. … Xinming China Holdings is not a large company by global standards. … View our latest analysis for Xinming China Holdings

Simply Wall St -

Imagine Owning Xinming China Holdings (HKG:2699) And Wondering If The 13% Share Price Slide Is Justified

We regret to report that long term Xinming China Holdings Limited (HKG:2699) shareholders have had that experience, with the share price dropping 13% in three years, versus a market return of about 43%. … During five years of share price growth, Xinming China Holdings moved from a loss to profitability. … The company has kept revenue pretty healthy over the last three years, so we doubt that explains the falling share price.

Simply Wall St -

What Kind Of Share Price Volatility Should You Expect For Xinming China Holdings Limited (HKG:2699)?

If you're interested in Xinming China Holdings Limited (HKG:2699), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

What Percentage Of Xinming China Holdings Limited (HKG:2699) Shares Do Insiders Own?

Every investor in Xinming China Holdings Limited (HKG:2699) should be aware of the most powerful shareholder groups. … With a market capitalization of HK$2.4b, Xinming China Holdings is a small cap stock, so it might not be well known by many institutional investors. … See our latest analysis for Xinming China Holdings

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A Closer Look At Xinming China Holdings Limited's (HKG:2699) Impressive ROE

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Xinming China Holdings Limited (HKG:2699). … Our data shows Xinming China Holdings has a return on equity of 16% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

How Financially Strong Is Xinming China Holdings Limited (HKG:2699)?

Investors are always looking for growth in small-cap stocks like Xinming China Holdings Limited (HKG:2699), with a market cap of HK$2.1b. … However, an important fact which most ignore is: how financially healthy is the business? … I believe these basic checks tell most of the story you need to know.

Simply Wall St -

One Thing To Remember About The Xinming China Holdings Limited (HKG:2699) Share Price

Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider. … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

Is Xinming China Holdings Limited (HKG:2699) Attractive At Its Current PE Ratio?

Xinming China Holdings Limited (HKG:2699) is currently trading at a trailing P/E of 7.1x, which is higher than the industry average of 6.4x. … While 2699 might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … View our latest analysis for Xinming China Holdings

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Company Info

Description

Xinming China Holdings Limited, an investment holding company, operates as an integrated residential and commercial property developer in the People’s Republic of China. The company operates through three segments: Property Development, Property Leasing, and Others. It invests in, develops, sells, and leases real estate properties; and offers business management, and industrial investment and management services. The company was founded in 2014 and is headquartered in Hangzhou, the People’s Republic of China. Xinming China Holdings Limited is a subsidiary of Xinxing Company Limited.

Details
Name: Xinming China Holdings Limited
2699
Exchange: SEHK
Founded: 2014
HK$2,104,056,640
1,878,622,000
Website: http://www.xinm.com.cn
Address: Xinming China Holdings Limited
Hengli Building,
Block I,
Hangzhou,
Zhejiang Province, 310007,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2699 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 06. Jul 2015
Number of employees
Current staff
Staff numbers
170
Xinming China Holdings employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 12:57
End of day share price update: 2019/06/18 00:00
Last earnings filing: 2019/04/23
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.