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832

Central China Real Estate SEHK:832 Stock Report

Last Price

HK$0.33

Market Cap

HK$1.0b

7D

-7.0%

1Y

-77.9%

Updated

28 Sep, 2022

Data

Company Financials +
832 fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance0/6
Financial Health2/6
Dividends0/6

832 Stock Overview

Central China Real Estate Limited, an investment holding company, engages in the property development activities in the People’s Republic of China.

Central China Real Estate Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Central China Real Estate
Historical stock prices
Current Share PriceHK$0.33
52 Week HighHK$1.52
52 Week LowHK$0.33
Beta0.36
1 Month Change-36.54%
3 Month Change-54.80%
1 Year Change-77.85%
3 Year Change-90.18%
5 Year Change-90.68%
Change since IPO-87.64%

Recent News & Updates

Sep 03
Central China Real Estate (HKG:832) Has Debt But No Earnings; Should You Worry?

Central China Real Estate (HKG:832) Has Debt But No Earnings; Should You Worry?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Shareholder Returns

832HK Real EstateHK Market
7D-7.0%-6.7%-5.4%
1Y-77.9%-37.2%-28.0%

Return vs Industry: 832 underperformed the Hong Kong Real Estate industry which returned -33.3% over the past year.

Return vs Market: 832 underperformed the Hong Kong Market which returned -25.9% over the past year.

Price Volatility

Is 832's price volatile compared to industry and market?
832 volatility
832 Average Weekly Movement7.9%
Real Estate Industry Average Movement5.9%
Market Average Movement6.4%
10% most volatile stocks in HK Market12.5%
10% least volatile stocks in HK Market3.1%

Stable Share Price: 832 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: 832's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19922,939Mingyao Yanghttps://www.jianye.com.cn

Central China Real Estate Limited, an investment holding company, engages in the property development activities in the People’s Republic of China. The company develops residential and commercial properties; leases properties; and operates hotel. It also provides project management services.

Central China Real Estate Fundamentals Summary

How do Central China Real Estate's earnings and revenue compare to its market cap?
832 fundamental statistics
Market CapHK$1.01b
Earnings (TTM)-HK$6.27b
Revenue (TTM)HK$31.61b

0.0x

P/S Ratio

-0.2x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
832 income statement (TTM)
RevenueCN¥28.90b
Cost of RevenueCN¥27.64b
Gross ProfitCN¥1.26b
Other ExpensesCN¥6.99b
Earnings-CN¥5.73b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-1.88
Gross Margin4.37%
Net Profit Margin-19.82%
Debt/Equity Ratio422.1%

How did 832 perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is 832 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 832?

Other financial metrics that can be useful for relative valuation.

832 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.8x
Enterprise Value/EBITDA-11.9x
PEG Ration/a

Price to Sales Ratio vs Peers

How does 832's PS Ratio compare to its peers?

832 PS Ratio vs Peers
The above table shows the PS ratio for 832 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average4x
655 Hongkong Chinese
14.4xn/aHK$1.1b
6158 Zhenro Properties Group
0.03x-14.7%HK$1.2b
672 Zhong An Group
0.1xn/aHK$1.2b
169 Wanda Hotel Development
1.5xn/aHK$1.2b
832 Central China Real Estate
0.03x7.1%HK$1.0b

Price-To-Sales vs Peers: 832 is good value based on its Price-To-Sales Ratio (0x) compared to the peer average (4x).


Price to Earnings Ratio vs Industry

How does 832's PE Ratio compare vs other companies in the HK Real Estate Industry?

Price-To-Sales vs Industry: 832 is good value based on its Price-To-Sales Ratio (0x) compared to the Hong Kong Real Estate industry average (0.9x)


Price to Sales Ratio vs Fair Ratio

What is 832's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

832 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.03x
Fair PS Ratio0.2x

Price-To-Sales vs Fair Ratio: 832 is good value based on its Price-To-Sales Ratio (0x) compared to the estimated Fair Price-To-Sales Ratio (0.2x).


Share Price vs Fair Value

What is the Fair Price of 832 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 832 (HK$0.33) is trading below our estimate of fair value (HK$8.33)

Significantly Below Fair Value: 832 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Central China Real Estate forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


74.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 832 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.6%).

Earnings vs Market: 832 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: 832 is expected to become profitable in the next 3 years.

Revenue vs Market: 832's revenue (7.1% per year) is forecast to grow slower than the Hong Kong market (9.9% per year).

High Growth Revenue: 832's revenue (7.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 832's Return on Equity is forecast to be low in 3 years time (7.2%).


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Past Performance

How has Central China Real Estate performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-24.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 832 is currently unprofitable.

Growing Profit Margin: 832 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 832 is unprofitable, and losses have increased over the past 5 years at a rate of 24.4% per year.

Accelerating Growth: Unable to compare 832's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 832 is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (-10.4%).


Return on Equity

High ROE: 832 has a negative Return on Equity (-93.52%), as it is currently unprofitable.


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Financial Health

How is Central China Real Estate's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 832's short term assets (CN¥123.8B) exceed its short term liabilities (CN¥123.4B).

Long Term Liabilities: 832's short term assets (CN¥123.8B) exceed its long term liabilities (CN¥16.3B).


Debt to Equity History and Analysis

Debt Level: 832's net debt to equity ratio (309.7%) is considered high.

Reducing Debt: 832's debt to equity ratio has increased from 199.6% to 422.1% over the past 5 years.

Debt Coverage: 832's debt is not well covered by operating cash flow (6%).

Interest Coverage: Insufficient data to determine if 832's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Central China Real Estate current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


7.09%

Forecast Dividend Yield

Dividend Yield vs Market

Central China Real Estate Dividend Yield vs Market
How does Central China Real Estate dividend yield compare to the market?
SegmentDividend Yield
Company (Central China Real Estate)0%
Market Bottom 25% (HK)3.0%
Market Top 25% (HK)8.8%
Industry Average (Real Estate)6.0%
Analyst forecast in 3 Years (Central China Real Estate)7.1%

Notable Dividend: Unable to evaluate 832's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 832's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 832's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 832's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: 832 is not paying a notable dividend for the Hong Kong market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 832 has not reported any payouts.


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Management

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

3.0yrs

Average management tenure


CEO

Mingyao Yang (44 yo)

0.58yr

Tenure

Mr. Mingyao Yang is Chief Executive Officer of Central China Real Estate Limited from February 14, 2022. He has experience in real estate sector. He joined the Group in August 2003 and has since then held...


Leadership Team

Experienced Management: 832's management team is considered experienced (3 years average tenure).


Board Members

Experienced Board: 832's board of directors are considered experienced (8.3 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: 832 insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

SEHK:832 Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
16 Sep 22BuyHK$180,001Vinh MaiIndividual500,000HK$0.36
05 Aug 22SellHK$648,261,792Po Sum WuIndividual885,000,000HK$0.73
13 May 22BuyHK$60,000Vinh MaiIndividual100,000HK$0.60
11 May 22BuyHK$62,000Vinh MaiIndividual100,000HK$0.62
25 Apr 22BuyHK$132,001Vinh MaiIndividual200,000HK$0.66
22 Apr 22BuyHK$212,010Vinh MaiIndividual300,000HK$0.71
10 Jan 22BuyHK$44,500Vinh MaiIndividual50,000HK$0.89
06 Jan 22BuyHK$43,000Vinh MaiIndividual50,000HK$0.86
20 Dec 21BuyHK$84,000Vinh MaiIndividual100,000HK$0.84
14 Dec 21BuyHK$272,010Vinh MaiIndividual300,000HK$0.91
13 Dec 21BuyHK$97,000Vinh MaiIndividual100,000HK$0.97
10 Dec 21BuyHK$399,999Vinh MaiIndividual400,000HK$1.00
22 Nov 21BuyHK$222,000Vinh MaiIndividual200,000HK$1.11
10 Nov 21BuyHK$104,000Vinh MaiIndividual100,000HK$1.04
09 Nov 21BuyHK$194,500Vinh MaiIndividual200,000HK$0.97
28 Oct 21BuyHK$452,001Po Sum WuIndividual400,000HK$1.13
27 Oct 21BuyHK$592,001Vinh MaiIndividual500,000HK$1.18
26 Oct 21BuyHK$240,000Vinh MaiIndividual200,000HK$1.20
18 Oct 21BuyHK$615,001Vinh MaiIndividual500,000HK$1.23
15 Oct 21BuyHK$374,999Vinh MaiIndividual300,000HK$1.25
12 Oct 21BuyHK$649,999Po Sum WuIndividual500,000HK$1.30
11 Oct 21BuyHK$1,838,381Po Sum WuIndividual1,347,000HK$1.36
08 Oct 21BuyHK$781,275Po Sum WuIndividual550,000HK$1.42
07 Oct 21BuyHK$359,001Po Sum WuIndividual250,000HK$1.44
06 Oct 21BuyHK$559,777Po Sum WuIndividual408,000HK$1.37
06 Oct 21BuyHK$408,001Vinh MaiIndividual300,000HK$1.36
05 Oct 21BuyHK$1,476,525Po Sum WuIndividual1,057,000HK$1.40
04 Oct 21BuyHK$63,640Po Sum WuIndividual43,000HK$1.48
30 Sep 21BuyHK$297,500Po Sum WuIndividual200,000HK$1.49

Ownership Breakdown

What is the ownership structure of 832?
Owner TypeNumber of SharesOwnership Percentage
Institutions47,711,7151.6%
Individual Insiders1,304,078,29942.8%
General Public1,697,691,07655.7%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.7%.


Top Shareholders

Top 18 shareholders own 44.33% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
41.74%
Po Sum Wu
1,272,734,299CN¥420.0m-38.75%no data
0.73%
Dimensional Fund Advisors LP
22,347,055CN¥7.4m4.37%no data
0.53%
Jun Wang
16,200,000CN¥5.3m0%no data
0.48%
Vinh Mai
14,744,000CN¥4.9m3.51%no data
0.44%
Sumitomo Mitsui DS Asset Management Company, Limited
13,472,000CN¥4.4m0%no data
0.15%
Perinvest (UK) Ltd
4,650,000CN¥1.5m0%0.24%
0.15%
The Vanguard Group, Inc.
4,524,000CN¥1.5m-0.26%no data
0.025%
SEB Investment Management AB
764,000CN¥252.1k0%no data
0.02%
Mackenzie Financial Corporation
617,732CN¥203.9k-7.9%no data
0.016%
Dr. Bost & Compagnon VermÖGensberatungs Gmbh & Co.Kg
500,000CN¥165.0k25%0.27%
0.013%
Luo Lin Xin
400,000CN¥132.0k0%no data
0.011%
Acadian Asset Management LLC
350,000CN¥115.5k0%no data
0.0078%
American Century Investment Management Inc
237,000CN¥78.2k0%no data
0.0043%
Lippo Investments Management Limited
130,928CN¥43.2k0%0.1%
0.0015%
CCB Principal Asset Management Co., Ltd.
45,000CN¥14.9k0%no data
0.0014%
E Fund Management Co., Ltd.
42,000CN¥13.9k-4.55%no data
0.00095%
BlackRock, Inc.
29,000CN¥9.6k-99.77%no data
0.0001%
Dacheng Fund Management Company Limited
3,000CN¥990.00%no data

Company Information

Central China Real Estate Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Central China Real Estate Limited
  • Ticker: 832
  • Exchange: SEHK
  • Founded: 1992
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Implied Market Cap: HK$1.006b
  • Shares outstanding: 3.05b
  • Website: https://www.jianye.com.cn

Number of Employees


Location

  • Central China Real Estate Limited
  • Jianye Office Building
  • Block E
  • Zhengzhou
  • Henan Province
  • 45000
  • China


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
832SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJun 2008
AJ5DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2008

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.