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846

Mingfa Group (International) SEHK:846 Stock Report

Last Price

HK$0.30

Market Cap

HK$11.5b

7D

-12.9%

1Y

-56.4%

Updated

17 May, 2022

Data

Company Financials
846 fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance5/6
Financial Health4/6
Dividends0/6

846 Stock Overview

Mingfa Group (International) Company Limited, an investment holding company, engages in the property development and leasing, and hotel management businesses in the People’s Republic of China.

Mingfa Group (International) Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Mingfa Group (International)
Historical stock prices
Current Share PriceHK$0.30
52 Week HighHK$0.75
52 Week LowHK$0.24
Beta-0.18
1 Month Change1.67%
3 Month Change-39.00%
1 Year Change-56.43%
3 Year Changen/a
5 Year Changen/a
Change since IPO-85.81%

Recent News & Updates

May 06
Mingfa Group (International)'s (HKG:846) Solid Profits Have Weak Fundamentals

Mingfa Group (International)'s (HKG:846) Solid Profits Have Weak Fundamentals

Mingfa Group (International) Co., Ltd. ( HKG:846 ) announced strong profits, but the stock was stagnant. We did some...

Shareholder Returns

846HK Real EstateHK Market
7D-12.9%-0.1%0.05%
1Y-56.4%-33.3%-25.2%

Return vs Industry: 846 underperformed the Hong Kong Real Estate industry which returned -33.3% over the past year.

Return vs Market: 846 underperformed the Hong Kong Market which returned -25.2% over the past year.

Price Volatility

Is 846's price volatile compared to industry and market?
846 volatility
846 Average Weekly Movement18.6%
Real Estate Industry Average Movement7.3%
Market Average Movement8.0%
10% most volatile stocks in HK Market14.9%
10% least volatile stocks in HK Market3.9%

Stable Share Price: 846 is more volatile than 90% of Hong Kong stocks over the past 3 months, typically moving +/- 19% a week.

Volatility Over Time: 846's weekly volatility has increased from 12% to 19% over the past year.

About the Company

FoundedEmployeesCEOWebsite
19944,066Xiaoming Zhonghttps://www.ming-fa.com

Mingfa Group (International) Company Limited, an investment holding company, engages in the property development and leasing, and hotel management businesses in the People’s Republic of China. The company operates through three segments: Property Development, Hotel, and Property Investment and Management. The Property Development segment develops commercial and residential real estate properties.

Mingfa Group (International) Fundamentals Summary

How do Mingfa Group (International)'s earnings and revenue compare to its market cap?
846 fundamental statistics
Market CapCN¥9.95b
Earnings (TTM)CN¥1.88b
Revenue (TTM)CN¥16.42b

0.9x

P/E Ratio

0.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
846 income statement (TTM)
RevenueCN¥16.42b
Cost of RevenueCN¥11.40b
Gross ProfitCN¥5.01b
Other ExpensesCN¥3.13b
EarningsCN¥1.88b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.31
Gross Margin30.53%
Net Profit Margin11.47%
Debt/Equity Ratio64.8%

How did 846 perform over the long term?

See historical performance and comparison

Valuation

Is Mingfa Group (International) undervalued compared to its fair value and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 846 (HK$0.31) is trading below our estimate of fair value (HK$1.04)

Significantly Below Fair Value: 846 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 846 is good value based on its PE Ratio (0.9x) compared to the Hong Kong Real Estate industry average (6.5x).

PE vs Market: 846 is good value based on its PE Ratio (0.9x) compared to the Hong Kong market (8.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 846's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 846 is good value based on its PB Ratio (0.1x) compared to the HK Real Estate industry average (0.4x).


Future Growth

How is Mingfa Group (International) forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


11.0%

Forecasted Real Estate industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Mingfa Group (International) has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Mingfa Group (International) performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


10.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 846 has high quality earnings.

Growing Profit Margin: 846's current net profit margins (11.5%) are higher than last year (8.4%).


Past Earnings Growth Analysis

Earnings Trend: 846's earnings have grown by 10.5% per year over the past 5 years.

Accelerating Growth: 846's earnings growth over the past year (75.1%) exceeds its 5-year average (10.5% per year).

Earnings vs Industry: 846 earnings growth over the past year (75.1%) exceeded the Real Estate industry 14.7%.


Return on Equity

High ROE: 846's Return on Equity (10.3%) is considered low.


Financial Health

How is Mingfa Group (International)'s financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 846's short term assets (CN¥53.7B) exceed its short term liabilities (CN¥47.8B).

Long Term Liabilities: 846's short term assets (CN¥53.7B) exceed its long term liabilities (CN¥6.5B).


Debt to Equity History and Analysis

Debt Level: 846's net debt to equity ratio (46%) is considered high.

Reducing Debt: 846's debt to equity ratio has reduced from 100.9% to 64.8% over the past 5 years.

Debt Coverage: 846's debt is not well covered by operating cash flow (8%).

Interest Coverage: 846 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Mingfa Group (International) 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

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate 846's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 846'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 846's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 846's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: 846 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 846 has not reported any payouts.


Next Steps

Management

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

2.5yrs

Average management tenure


CEO

Xiaoming Zhong (53 yo)

1.83yrs

Tenure

CN¥1,494,000

Compensation

Mr. Xiaoming Zhong serves as Executive Director and Chief Executive Officer at Mingfa Group (International) Company Limited since July 17, 2020. From 2015 to 2019, Mr. Zhong was the general manager of Zhon...


CEO Compensation Analysis

Compensation vs Market: Xiaoming's total compensation ($USD220.21K) is below average for companies of similar size in the Hong Kong market ($USD608.79K).

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


Leadership Team

Experienced Management: 846's management team is considered experienced (2.5 years average tenure).


Board Members

Experienced Board: 846's board of directors are not considered experienced ( 2.8 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.


Ownership Breakdown

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


Top Shareholders

Company Information

Mingfa Group (International) Company Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Mingfa Group (International) Company Limited
  • Ticker: 846
  • Exchange: SEHK
  • Founded: 1994
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Implied Market Cap: HK$11.517b
  • Shares outstanding: 6.09b
  • Website: https://www.ming-fa.com

Number of Employees


Location

  • Mingfa Group (International) Company Limited
  • Jiangsu Mingfa Business Park
  • No. 88 Pudong North Road
  • Nanjing
  • Jiangsu Province
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/17 00:00
End of Day Share Price2022/05/16 00:00
Earnings2021/12/31
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.