Greentown China Holdings
Market Cap
HK$27.3b
Last Updated
2021/01/16 10:20 UTC
Data Sources
Company Financials +
Executive Summary
Greentown China Holdings Limited, an investment holding company, engages in the property development and related business in China. More Details
Rewards
Risk Analysis
Snowflake Analysis
Fair value with moderate growth potential.
Similar Companies
Share Price & News
How has Greentown China Holdings's share price performed over time and what events caused price changes?
Latest Share Price and Events
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.
Market Performance
7 Day Return
-3.7%
3900
0.4%
HK Real Estate
2.2%
HK Market
1 Year Return
-0.5%
3900
-18.2%
HK Real Estate
7.5%
HK Market
Return vs Industry: 3900 exceeded the Hong Kong Real Estate industry which returned -18.2% over the past year.
Return vs Market: 3900 underperformed the Hong Kong Market which returned 7.5% over the past year.
Shareholder returns
| 3900 | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.7% | 0.4% | 2.2% |
| 30 Day | -8.3% | 2.7% | 9.4% |
| 90 Day | -20.4% | 0.3% | 15.8% |
| 1 Year | 3.5%-0.5% | -14.1%-18.2% | 11.8%7.5% |
| 3 Year | -3.2%-13.4% | -15.2%-26.1% | -3.5%-13.6% |
| 5 Year | 115.9%90.0% | 65.9%31.2% | 65.0%37.0% |
Long-Term Price Volatility Vs. Market
How volatile is Greentown China Holdings's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall St
Is Greentown China Holdings Limited (HKG:3900) A Good Dividend Stock?3 weeks ago | Simply Wall St
Are Greentown China Holdings's (HKG:3900) Statutory Earnings A Good Guide To Its Underlying Profitability?1 month ago | Simply Wall St
Is It Time To Consider Buying Greentown China Holdings Limited (HKG:3900)?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$10.98) is trading below our estimate of fair value (HK$449.07)
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 (17.1x) compared to the HK Real Estate industry average (8.2x).
PE vs Market: 3900 is poor value based on its PE Ratio (17.1x) compared to the Hong Kong market (11.5x).
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 (0.4x) is in line with the HK Real Estate industry average.
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Future Growth
How is Greentown China Holdings forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
20.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 3900's forecast earnings growth (20.9% per year) is above the savings rate (1.5%).
Earnings vs Market: 3900's earnings (20.9% per year) are forecast to grow slower than the Hong Kong market (21% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: 3900's revenue (16.8% per year) is forecast to grow faster than the Hong Kong market (14.1% per year).
High Growth Revenue: 3900's revenue (16.8% 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 (10.8%).
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Past Performance
How has Greentown China Holdings performed over the past 5 years?
-5.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 3900 has high quality earnings.
Growing Profit Margin: 3900 became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: 3900's earnings have declined by 5.4% per year over the past 5 years.
Accelerating Growth: 3900 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: 3900 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Real Estate industry (5.9%).
Return on Equity
High ROE: 3900's Return on Equity (5.4%) is considered low.
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Financial Health
How is Greentown China Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: 3900's short term assets (CN¥337.2B) exceed its short term liabilities (CN¥219.6B).
Long Term Liabilities: 3900's short term assets (CN¥337.2B) exceed its long term liabilities (CN¥81.9B).
Debt to Equity History and Analysis
Debt Level: 3900's debt to equity ratio (150.9%) is considered high.
Reducing Debt: 3900's debt to equity ratio has increased from 110.8% to 150.9% over the past 5 years.
Debt Coverage: 3900's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: 3900 earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
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Dividend
What is Greentown China Holdings's current dividend yield, its reliability and sustainability?
3.27%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 3900's dividend (3.27%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.13%).
High Dividend: 3900's dividend (3.27%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.66%).
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 reasonable payout ratio (55.9%), 3900's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 3900's dividends in 3 years are forecast to be well covered by earnings (24.1% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
0.8yrs
Average management tenure
CEO
Jiafeng Guo (55 yo)
0.083
Tenure
CN¥2,660,000
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 ($USD410.51K) is below average for companies of similar size in the Hong Kong market ($USD697.58K).
Compensation vs Earnings: Jiafeng's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 1.5yrs | CN¥19.30m | no data | |
| CEO & Director | 0.083yr | CN¥2.66m | no data | |
| Executive Director | 5.58yrs | CN¥16.52m | no data | |
| Executive Director | 2.75yrs | CN¥7.83m | no data | |
| Executive Director | 1.5yrs | CN¥1.96m | no data | |
| Executive Director | 1.5yrs | CN¥1.96m | no data | |
| Executive President | 1yr | no data | no data | |
| Head, Investor Relations | no data | no data | no data | |
| VP & Chairman of the Board of Greentown Ideal Life | 5.83yrs | no data | no data | |
| Vice President | no data | no data | no data | |
| Joint Company Secretary | 0.83yr | no data | no data | |
| Joint Company Secretary | 0.83yr | no data | no data |
0.8yrs
Average Tenure
53.5yo
Average Age
Experienced Management: 3900's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 1.5yrs | CN¥19.30m | no data | |
| CEO & Director | 0.083yr | CN¥2.66m | no data | |
| Executive Director | 5.58yrs | CN¥16.52m | no data | |
| Executive Director | 2.75yrs | CN¥7.83m | no data | |
| Executive Director | 1.5yrs | CN¥1.96m | no data | |
| Executive Director | 1.5yrs | CN¥1.96m | no data | |
| Non-Executive Director | 8.58yrs | CN¥152.00k | no data | |
| Alternate Director | 1.5yrs | no data | 0.020% CN¥ 5.5m | |
| Independent Non-Executive Director | 14.58yrs | CN¥320.00k | no data | |
| Independent Non-Executive Director | 0.75yr | no data | no data | |
| Independent Non-Executive Director | 8.75yrs | CN¥320.00k | no data | |
| Non-Executive Director | 0.58yr | no data | no data |
1.5yrs
Average Tenure
55yo
Average Age
Experienced Board: 3900's board of directors are not considered experienced ( 1.5 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 been diluted in the past year, with total shares outstanding growing by 14.9%.
Top Shareholders
Company Information
Greentown China Holdings Limited's company bio, 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
- Market Cap: HK$27.305b
- Shares outstanding: 2.49b
- Website: https://www.chinagreentown.com
Number of Employees
Location
- Greentown China Holdings Limited
- Century Plaza
- 10th Floor
- Hangzhou
- Zhejiang Province
- 310007
- China
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 3900 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Ordinary Shares | HK | HKD | Jul 2006 |
| G7C | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jul 2006 |
| GTWC.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jul 2006 |
| 3900 | SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect) | Yes | Ordinary Shares | HK | HKD | Jul 2006 |
| 3900 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Ordinary Shares | HK | HKD | Jul 2006 |
Biography
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 Inve...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/16 10:20 |
| End of Day Share Price | 2021/01/15 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.