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6111

DaFa Properties GroupSEHK:6111 Stock Report

Market Cap

HK$4.2b

7D

0%

1Y

-22.0%

Updated

26 Oct, 2021

Data

Company Financials +
6111 fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance3/6
Financial Health4/6
Dividends3/6

6111 Overview

DaFa Properties Group Limited, an investment holding company, operates as a real estate developer in the Yangtze River Delta Region in the People’s Republic of China.

Price History & Performance

Summary of all time highs, changes and price drops for DaFa Properties Group
Historical stock prices
Current Share PriceHK$5.04
52 Week HighHK$4.94
52 Week LowHK$8.48
Beta0.48
1 Month Change0.80%
3 Month Change-12.35%
1 Year Change-21.98%
3 Year Change9.33%
5 Year Changen/a
Change since IPO20.00%

Recent News & Updates

Sep 23
DaFa Properties Group (HKG:6111) Is Increasing Its Dividend To HK$0.058

DaFa Properties Group (HKG:6111) Is Increasing Its Dividend To HK$0.058

The board of DaFa Properties Group Limited ( HKG:6111 ) has announced that the dividend on 5th of January will be...

Sep 09
DaFa Properties Group's (HKG:6111) Shareholders Will Receive A Bigger Dividend Than Last Year

DaFa Properties Group's (HKG:6111) Shareholders Will Receive A Bigger Dividend Than Last Year

DaFa Properties Group Limited ( HKG:6111 ) will increase its dividend on the 5th of January to HK$0.058, which is 53...

Aug 26
DaFa Properties Group's (HKG:6111) Shareholders Will Receive A Bigger Dividend Than Last Year

DaFa Properties Group's (HKG:6111) Shareholders Will Receive A Bigger Dividend Than Last Year

DaFa Properties Group Limited's ( HKG:6111 ) dividend will be increasing to HK$0.058 on 5th of January. Although the...

Shareholder Returns

6111HK Real EstateHK Market
7D0%2.8%0.4%
1Y-22.0%-6.8%6.7%

Return vs Industry: 6111 underperformed the Hong Kong Real Estate industry which returned -6.8% over the past year.

Return vs Market: 6111 underperformed the Hong Kong Market which returned 6.7% over the past year.

Price Volatility

Is 6111's price volatile compared to industry and market?
6111 volatility
6111 Beta0.48
Industry Beta0.85
Market Beta1

Stable Share Price: 6111 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 6111's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1996992Lujiang Liaohttps://www.dafaland.com

DaFa Properties Group Limited, an investment holding company, operates as a real estate developer in the Yangtze River Delta Region in the People’s Republic of China. The company is involved in the development and sale of residential properties; development, operation, and management of commercial and mixed-use properties; and provision of management consulting services. As of December 31, 2019, it had a portfolio of 69 projects consisting of 63 residential properties, two residential and commercial complexes, two commercial complexes, one office floor, and one residential and service apartment.

DaFa Properties Group Fundamentals Summary


Earnings & Revenue

Key profitability statistics from the latest earnings report
6111 income statement (TTM)
RevenueCN¥10.96b
Cost of RevenueCN¥8.69b
Gross ProfitCN¥2.27b
ExpensesCN¥1.88b
EarningsCN¥398.63m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.48
Gross Margin20.74%
Net Profit Margin3.64%
Debt/Equity Ratio124.5%

How did 6111 perform over the long term?

See historical performance and comparison

Dividends

2.3%

Current Dividend Yield

20%

Payout Ratio

Does 6111 pay a reliable dividends?

See 6111 dividend history and benchmarks
When do you need to buy 6111 by to receive an upcoming dividend?
DaFa Properties Group dividend dates
Ex Dividend DateDec 17 2021
Dividend Pay DateJan 05 2022
Days until Ex dividend51 days
Days until Dividend pay date70 days

Does 6111 pay a reliable dividends?

See 6111 dividend history and benchmarks

Valuation

Is DaFa Properties Group undervalued compared to its fair value and its price relative to the market?

8.59x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 6111 (HK$5.04) is trading above our estimate of fair value (HK$2.84)

Significantly Below Fair Value: 6111 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 6111 is poor value based on its PE Ratio (8.6x) compared to the Hong Kong Real Estate industry average (7.6x).

PE vs Market: 6111 is good value based on its PE Ratio (8.6x) compared to the Hong Kong market (9.6x).


Price to Earnings Growth Ratio

PEG Ratio: 6111 is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: 6111 is overvalued based on its PB Ratio (0.9x) compared to the HK Real Estate industry average (0.5x).


Future Growth

How is DaFa Properties Group forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

6.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6111's forecast earnings growth (6.7% per year) is above the savings rate (1.5%).

Earnings vs Market: 6111's earnings (6.7% per year) are forecast to grow slower than the Hong Kong market (17.6% per year).

High Growth Earnings: 6111's earnings are forecast to grow, but not significantly.

Revenue vs Market: 6111's revenue (15.8% per year) is forecast to grow faster than the Hong Kong market (12.4% per year).

High Growth Revenue: 6111's revenue (15.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 6111's Return on Equity is forecast to be low in 3 years time (6.4%).


Past Performance

How has DaFa Properties Group performed over the past 5 years?

12.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 6111 has high quality earnings.

Growing Profit Margin: 6111's current net profit margins (3.6%) are lower than last year (5%).


Past Earnings Growth Analysis

Earnings Trend: 6111's earnings have grown by 12% per year over the past 5 years.

Accelerating Growth: 6111's earnings growth over the past year (16.7%) exceeds its 5-year average (12% per year).

Earnings vs Industry: 6111 earnings growth over the past year (16.7%) underperformed the Real Estate industry 23.4%.


Return on Equity

High ROE: 6111's Return on Equity (10%) is considered low.


Financial Health

How is DaFa Properties Group's financial position?


Financial Position Analysis

Short Term Liabilities: 6111's short term assets (CN¥33.1B) exceed its short term liabilities (CN¥21.7B).

Long Term Liabilities: 6111's short term assets (CN¥33.1B) exceed its long term liabilities (CN¥8.0B).


Debt to Equity History and Analysis

Debt Level: 6111's debt to equity ratio (124.5%) is considered high.

Reducing Debt: 6111's debt to equity ratio has reduced from 186.7% to 124.5% over the past 5 years.

Debt Coverage: 6111's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: 6111's interest payments on its debt are well covered by EBIT (7.1x coverage).


Balance Sheet


Dividend

What is DaFa Properties Group current dividend yield, its reliability and sustainability?

2.32%

Current Dividend Yield


Upcoming Dividend Payment

TodayOct 26 2021Ex Dividend DateDec 17 2021Dividend Pay DateJan 05 202219 days from Ex DividendBuy in the next 51 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: 6111's dividend (2.32%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.24%).

High Dividend: 6111's dividend (2.32%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.8%).


Stability and Growth of Payments

Stable Dividend: 6111 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 6111 has only been paying a dividend for 3 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (19.8%), 6111's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 6111's dividends in 3 years are forecast to be well covered by earnings (28.7% payout ratio).


Next Steps

Management

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

1.8yrs

Average management tenure


CEO

Lujiang Liao (49 yo)

3.5yrs

Tenure

CN¥3,700,000

Compensation

Mr. Lujiang Liao served as Assistant President of Shimao Real Estate Holding Co. Ltd and Shimao Group Co., Ltd. until January 31, 2018. Mr. Liao served as the Chief Operating Officer at Shimao Property Hol...


CEO Compensation Analysis

Compensation vs Market: Lujiang's total compensation ($USD579.66K) is above average for companies of similar size in the Hong Kong market ($USD353.43K).

Compensation vs Earnings: Lujiang's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: 6111's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: 6111's board of directors are considered experienced (3.3 years average tenure).


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.


Ownership Breakdown

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


Top Shareholders

Company Information

DaFa Properties Group Limited's employee growth, exchange listings and data sources


Key Information

  • Name: DaFa Properties Group Limited
  • Ticker: 6111
  • Exchange: SEHK
  • Founded: 1996
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: HK$4.173b
  • Shares outstanding: 827.88m
  • Website: https://www.dafaland.com

Number of Employees


Location

  • DaFa Properties Group Limited
  • No. 2, Shenhong Road
  • Lane 1188
  • Shanghai
  • 201106
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/26 16:30
End of Day Share Price2021/10/26 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.