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88

Tai Cheung HoldingsSEHK:88 Stock Report

Market Cap

HK$2.9b

7D

-0.2%

1Y

0.6%

Updated

27 Nov, 2021

Data

Company Financials +
88 fundamental analysis
Snowflake Score
Valuation0/6
Future Growth5/6
Past Performance0/6
Financial Health3/6
Dividends2/6

88 Stock Overview

Tai Cheung Holdings Limited, an investment holding company, engages in property investment, development, and management activities in Hong Kong.

Price History & Performance

Summary of all time highs, changes and price drops for Tai Cheung Holdings
Historical stock prices
Current Share PriceHK$4.76
52 Week HighHK$5.68
52 Week LowHK$4.50
Beta0.58
1 Month Change-1.86%
3 Month Change-11.52%
1 Year Change0.63%
3 Year Change-33.80%
5 Year Change-28.53%
Change since IPO24.23%

Recent News & Updates

Aug 19
We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Tai Cheung Holdings Limited's (HKG:88) CEO For Now

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Tai Cheung Holdings Limited's (HKG:88) CEO For Now

Shareholders of Tai Cheung Holdings Limited ( HKG:88 ) will have been dismayed by the negative share price return over...

Jul 01
Tai Cheung Holdings (HKG:88) Is Due To Pay A Dividend Of HK$0.12

Tai Cheung Holdings (HKG:88) Is Due To Pay A Dividend Of HK$0.12

The board of Tai Cheung Holdings Limited ( HKG:88 ) has announced that it will pay a dividend on the 16th of September...

Shareholder Returns

88HK Real EstateHK Market
7D-0.2%-3.1%-2.7%
1Y0.6%-20.3%-6.3%

Return vs Industry: 88 exceeded the Hong Kong Real Estate industry which returned -18.1% over the past year.

Return vs Market: 88 exceeded the Hong Kong Market which returned -4.2% over the past year.

Price Volatility

Is 88's price volatile compared to industry and market?
88 volatility
88 Average Weekly Movement2.4%
Real Estate Industry Average Movement5.7%
Market Average Movement6.9%
10% most volatile stocks in HK Market13.4%
10% least volatile stocks in HK Market3.3%

Stable Share Price: 88 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: 88's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1956168David Chanhttps://www.taicheung.com

Tai Cheung Holdings Limited, an investment holding company, engages in property investment, development, and management activities in Hong Kong. The company’s property portfolio includes residential, industrial, and office/commercial buildings. It also provides construction and corporate secretary services.

Tai Cheung Holdings Fundamentals Summary

How do Tai Cheung Holdings's earnings and revenue compare to its market cap?
88 fundamental statistics
Market CapHK$2.94b
Earnings (TTM)-HK$28.20m
Revenue (TTM)HK$73.80m

39.8x

P/S Ratio

-104.2x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
88 income statement (TTM)
RevenueHK$73.80m
Cost of RevenueHK$70.50m
Gross ProfitHK$3.30m
ExpensesHK$31.50m
Earnings-HK$28.20m

Last Reported Earnings

Mar 31, 2021

Next Earnings Date

Nov 30, 2021

Earnings per share (EPS)-0.046
Gross Margin4.47%
Net Profit Margin-38.21%
Debt/Equity Ratio2.1%

How did 88 perform over the long term?

See historical performance and comparison

Dividends

5.0%

Current Dividend Yield

-526%

Payout Ratio

Valuation

Is Tai Cheung Holdings undervalued compared to its fair value and its price relative to the market?

0.43x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: 88 (HK$4.76) is trading above our estimate of fair value (HK$3.02)

Significantly Below Fair Value: 88 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 88 is unprofitable, so we can't compare its PE Ratio to the Hong Kong Real Estate industry average.

PE vs Market: 88 is unprofitable, so we can't compare its PE Ratio to the Hong Kong market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 88's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 88's PB Ratio (0.4x) is in line with the HK Real Estate industry average.


Future Growth

How is Tai Cheung Holdings forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

104.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 88 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.5%).

Earnings vs Market: 88 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: 88's is expected to become profitable in the next 3 years.

Revenue vs Market: 88's revenue (85.2% per year) is forecast to grow faster than the Hong Kong market (12.6% per year).

High Growth Revenue: 88's revenue (85.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 88's Return on Equity is forecast to be low in 3 years time (7.4%).


Past Performance

How has Tai Cheung Holdings performed over the past 5 years?

-18.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 88 is currently unprofitable.

Growing Profit Margin: 88 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 88 is unprofitable, and losses have increased over the past 5 years at a rate of 18.5% per year.

Accelerating Growth: Unable to compare 88's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 88 is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (23.6%).


Return on Equity

High ROE: 88 has a negative Return on Equity (-0.41%), as it is currently unprofitable.


Financial Health

How is Tai Cheung Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 88's short term assets (HK$6.9B) exceed its short term liabilities (HK$293.0M).

Long Term Liabilities: 88's short term assets (HK$6.9B) exceed its long term liabilities (HK$52.5M).


Debt to Equity History and Analysis

Debt Level: 88 has more cash than its total debt.

Reducing Debt: 88's debt to equity ratio has increased from 1.8% to 2.1% over the past 5 years.

Debt Coverage: 88's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if 88's interest payments on its debt are well covered by EBIT.


Balance Sheet


Dividend

What is Tai Cheung Holdings's current dividend yield, its reliability and sustainability?

5.04%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 88's dividend (5.04%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.3%).

High Dividend: 88's dividend (5.04%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.98%).


Stability and Growth of Payments

Stable Dividend: 88's dividend payments have been volatile in the past 10 years.

Growing Dividend: 88's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: 88 is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: 88's dividends in 3 years are forecast to be well covered by earnings (31.4% payout ratio).


Next Steps

Management

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

24.8yrs

Average board tenure


CEO

David Chan (70 yo)

no data

Tenure

HK$4,430,000

Compensation

Mr. Pun Chan, SB Hon, LLD, also known as David, has been Chairman of Tai Cheung Holdings Ltd since 1981 and serves as its Chief Executive Officer. Mr. Chan has experience in construction, property developm...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD568.16K) is above average for companies of similar size in the Hong Kong market ($USD354.32K).

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


Board Members

Experienced Board: 88's board of directors are seasoned and experienced ( 24.8 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: 88 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

Tai Cheung Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Tai Cheung Holdings Limited
  • Ticker: 88
  • Exchange: SEHK
  • Founded: 1956
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Market Cap: HK$2.939b
  • Shares outstanding: 617.53m
  • Website: https://www.taicheung.com

Number of Employees


Location

  • Tai Cheung Holdings Limited
  • The Hong Kong Club Building
  • 20th Floor
  • Central
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/11/27 10:08
End of Day Share Price2021/11/26 00:00
Earnings2021/03/31
Annual Earnings2021/03/31


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.