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3900

Greentown China HoldingsSEHK:3900 Stock Report

Last Price

HK$12.62

Market Cap

HK$31.6b

7D

-4.7%

1Y

0.5%

Updated

17 Jan, 2022

Data

Company Financials +
3900 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance5/6
Financial Health3/6
Dividends3/6

3900 Stock Overview

Greentown China Holdings Limited, an investment holding company, engages in the property development and related business in China.

Greentown China Holdings Competitors

CIFI Holdings (Group)

SEHK:884

HK$40.0b

Powerlong Real Estate Holdings

SEHK:1238

HK$16.9b

KWG Group Holdings

SEHK:1813

HK$14.0b

Mingfa Group (International)

SEHK:846

HK$11.5b

Price History & Performance

Summary of all time highs, changes and price drops for Greentown China Holdings
Historical stock prices
Current Share PriceHK$12.62
52 Week HighHK$14.04
52 Week LowHK$8.09
Beta1.05
1 Month Change7.68%
3 Month Change6.95%
1 Year Change0.48%
3 Year Change102.24%
5 Year Change95.96%
Change since IPO44.23%

Recent News & Updates

Dec 10
Is Greentown China Holdings (HKG:3900) A Risky Investment?

Is Greentown China Holdings (HKG:3900) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Oct 28
At HK$11.58, Is It Time To Put Greentown China Holdings Limited (HKG:3900) On Your Watch List?

At HK$11.58, Is It Time To Put Greentown China Holdings Limited (HKG:3900) On Your Watch List?

Greentown China Holdings Limited ( HKG:3900 ), is not the largest company out there, but it received a lot of attention...

Sep 11
These 4 Measures Indicate That Greentown China Holdings (HKG:3900) Is Using Debt Extensively

These 4 Measures Indicate That Greentown China Holdings (HKG:3900) Is Using Debt Extensively

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Shareholder Returns

3900HK Real EstateHK Market
7D-4.7%0.2%3.2%
1Y0.5%-22.4%-11.9%

Return vs Industry: 3900 exceeded the Hong Kong Real Estate industry which returned -22.4% over the past year.

Return vs Market: 3900 exceeded the Hong Kong Market which returned -11.9% over the past year.

Price Volatility

Is 3900's price volatile compared to industry and market?
3900 volatility
3900 Average Weekly Movement6.8%
Real Estate Industry Average Movement5.6%
Market Average Movement6.7%
10% most volatile stocks in HK Market13.1%
10% least volatile stocks in HK Market3.0%

Stable Share Price: 3900 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 3900's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19958,917Jiafeng Guohttps://www.chinagreentown.com

Greentown China Holdings Limited, an investment holding company, engages in the property development and related business in China. It operates through Property Development, Hotel Operations, Property Investment, and Project Management segments. The company develops and sells residential properties.

Greentown China Holdings Fundamentals Summary

How do Greentown China Holdings's earnings and revenue compare to its market cap?
3900 fundamental statistics
Market CapCN¥25.75b
Earnings (TTM)CN¥2.79b
Revenue (TTM)CN¥78.02b

9.2x

P/E Ratio

0.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
3900 income statement (TTM)
RevenueCN¥78.02b
Cost of RevenueCN¥60.95b
Gross ProfitCN¥17.07b
ExpensesCN¥14.27b
EarningsCN¥2.79b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.12
Gross Margin21.88%
Net Profit Margin3.58%
Debt/Equity Ratio142.7%

How did 3900 perform over the long term?

See historical performance and comparison

Dividends

3.4%

Current Dividend Yield

31%

Payout Ratio

Valuation

Is Greentown China Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 3900 (HK$12.62) is trading below our estimate of fair value (HK$200.85)

Significantly Below Fair Value: 3900 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 3900 is poor value based on its PE Ratio (9.2x) compared to the Hong Kong Real Estate industry average (6.7x).

PE vs Market: 3900's PE Ratio (9.2x) is in line with the Hong Kong market.


Price to Earnings Growth Ratio

PEG Ratio: 3900 is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: 3900's PB Ratio (0.5x) is in line with the HK Real Estate industry average.


Future Growth

How is Greentown China Holdings forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

12.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3900's forecast earnings growth (12.3% per year) is above the savings rate (1.5%).

Earnings vs Market: 3900's earnings (12.3% per year) are forecast to grow slower than the Hong Kong market (16.4% per year).

High Growth Earnings: 3900's earnings are forecast to grow, but not significantly.

Revenue vs Market: 3900's revenue (14.8% per year) is forecast to grow faster than the Hong Kong market (11.7% per year).

High Growth Revenue: 3900's revenue (14.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 3900's Return on Equity is forecast to be low in 3 years time (9.7%).


Past Performance

How has Greentown China Holdings performed over the past 5 years?

7.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 3900 has high quality earnings.

Growing Profit Margin: 3900's current net profit margins (3.6%) are higher than last year (1.8%).


Past Earnings Growth Analysis

Earnings Trend: 3900's earnings have grown by 7.4% per year over the past 5 years.

Accelerating Growth: 3900's earnings growth over the past year (136.7%) exceeds its 5-year average (7.4% per year).

Earnings vs Industry: 3900 earnings growth over the past year (136.7%) exceeded the Real Estate industry 21.7%.


Return on Equity

High ROE: 3900's Return on Equity (7.3%) is considered low.


Financial Health

How is Greentown China Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 3900's short term assets (CN¥428.2B) exceed its short term liabilities (CN¥287.2B).

Long Term Liabilities: 3900's short term assets (CN¥428.2B) exceed its long term liabilities (CN¥103.2B).


Debt to Equity History and Analysis

Debt Level: 3900's net debt to equity ratio (79.6%) is considered high.

Reducing Debt: 3900's debt to equity ratio has increased from 128.1% to 142.7% over the past 5 years.

Debt Coverage: 3900's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: 3900's interest payments on its debt are well covered by EBIT (93.2x coverage).


Balance Sheet


Dividend

What is Greentown China Holdings's current dividend yield, its reliability and sustainability?

3.40%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 3900's dividend (3.4%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.36%).

High Dividend: 3900's dividend (3.4%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.96%).


Stability and Growth of Payments

Stable Dividend: 3900's dividend payments have been volatile in the past 10 years.

Growing Dividend: 3900's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.2%), 3900's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 3900's dividends in 3 years are forecast to be well covered by earnings (36.6% payout ratio).


Next Steps

Management

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

1.5yrs

Average management tenure


CEO

Jiafeng Guo (56 yo)

1.08yrs

Tenure

CN¥5,628,000

Compensation

Mr. Jiafeng Guo serves as Executive Director of Greentown China Holdings Limited since July 11, 2019 and serves as Chief Executive Officer since December 17, 2020 and served as Executive President since Ju...


CEO Compensation Analysis

Compensation vs Market: Jiafeng's total compensation ($USD885.89K) is above average for companies of similar size in the Hong Kong market ($USD660.88K).

Compensation vs Earnings: Jiafeng's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: 3900's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Members

Experienced Board: 3900's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Greentown China Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Greentown China Holdings Limited
  • Ticker: 3900
  • Exchange: SEHK
  • Founded: 1995
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Implied Market Cap: HK$31.556b
  • Shares outstanding: 2.50b
  • Website: https://www.chinagreentown.com

Number of Employees


Location

  • Greentown China Holdings Limited
  • Dragon Century Plaza
  • 10th Floor
  • Hangzhou
  • Zhejiang Province
  • 310007
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/17 16:28
End of Day Share Price2022/01/17 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.