SEHK:1223

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Symphony Holdings

Executive Summary

Symphony Holdings Limited, an investment holding company, primarily operates as a retailing company.


Snowflake Analysis

Poor track record with worrying balance sheet.

Share Price & News

How has Symphony Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 1223 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.3%

1223

0.09%

HK Specialty Retail

3.0%

HK Market


1 Year Return

-6.5%

1223

20.7%

HK Specialty Retail

-0.9%

HK Market

Return vs Industry: 1223 underperformed the Hong Kong Specialty Retail industry which returned 21.4% over the past year.

Return vs Market: 1223 underperformed the Hong Kong Market which returned 0.6% over the past year.


Shareholder returns

1223IndustryMarket
7 Day-3.3%0.09%3.0%
30 Day-6.5%5.1%6.1%
90 Day-2.2%30.1%12.1%
1 Year-5.6%-6.5%26.0%20.7%3.1%-0.9%
3 Year27.6%24.3%24.3%9.7%7.1%-4.4%
5 Year8.1%2.4%40.7%13.8%8.7%-9.4%

Price Volatility Vs. Market

How volatile is Symphony Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

36.08x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 1223 (HK$0.87) is trading above our estimate of fair value (HK$0.09)

Significantly Below Fair Value: 1223 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 1223 is poor value based on its PE Ratio (36.1x) compared to the HK Specialty Retail industry average (10.9x).

PE vs Market: 1223 is poor value based on its PE Ratio (36.1x) compared to the Hong Kong market (10.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 1223's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 1223 is overvalued based on its PB Ratio (0.9x) compared to the HK Specialty Retail industry average (0.7x).


Next Steps

Future Growth

How is Symphony Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

22.1%

Forecasted Retail 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 Symphony Holdings 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.


Next Steps

Past Performance

How has Symphony Holdings performed over the past 5 years?

-1.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1223 has a large one-off gain of HK$126.7M impacting its December 31 2019 financial results.

Growing Profit Margin: 1223's current net profit margins (18.4%) are lower than last year (31%).


Past Earnings Growth Analysis

Earnings Trend: 1223 has become profitable over the past 5 years, growing earnings by -1.4% per year.

Accelerating Growth: 1223's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1223 had negative earnings growth (-39.3%) over the past year, making it difficult to compare to the Specialty Retail industry average (-24.9%).


Return on Equity

High ROE: 1223's Return on Equity (2.8%) is considered low.


Next Steps

Financial Health

How is Symphony Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 1223's short term assets (HK$997.6M) exceed its short term liabilities (HK$557.6M).

Long Term Liabilities: 1223's short term assets (HK$997.6M) do not cover its long term liabilities (HK$1.7B).


Debt to Equity History and Analysis

Debt Level: 1223's debt to equity ratio (48.5%) is considered high.

Reducing Debt: 1223's debt to equity ratio has increased from 25.6% to 48.5% over the past 5 years.

Debt Coverage: 1223's debt is not well covered by operating cash flow (0.1%).

Interest Coverage: Insufficient data to determine if 1223's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

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

0.92%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 1223's dividend (0.92%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.26%).

High Dividend: 1223's dividend (0.92%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.67%).


Stability and Growth of Payments

Stable Dividend: 1223 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are stable.

Growing Dividend: 1223 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: 1223 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 1223's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

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

5.3yrs

Average management tenure


CEO

Tun Nei Cheng (56yo)

4.83yrs

Tenure

HK$2,618,000

Compensation

Mr. Tun Nei Cheng serves as an Executive Director at Lamtex Holdings Limited since March 19, 2020. He has been the Chief Executive Officer of Symphony Holdings Limited since September 30, 2015. Mr. Cheng h ...


CEO Compensation Analysis

Compensation vs Market: Tun Nei's total compensation ($USD337.80K) is about average for companies of similar size in the Hong Kong market ($USD304.70K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Tun Nei Cheng
Chairman & CEO4.83yrsHK$2.62m39.78% HK$1.1b
Kar Lee Chan
COO & Executive Director6.5yrsHK$2.16m0.30% HK$8.1m
Cheung Ming Lee
Head of Real Estate Division & Executive Director1.5yrsHK$1.58m3.23% HK$86.4m
Yin Wai Chan
Chief Financial Officerno datano datano data
Kit Wan Tham
Senior Vice President and Legal Counselno datano datano data
Yat Ng
Head of Leasing - Outlet Mall Division5.33yrsno datano data
Keong Yiew Wong
Head of Pony Operationno datano datano data
Hua Li
Head of Speedo China Operation4.33yrsno datano data
Kam Lung Liu
Chief Executive Officer of Financial Services Unit5.75yrsno datano data
Wai Yee So
Company Secretary0.083yrno datano data

5.3yrs

Average Tenure

56yo

Average Age

Experienced Management: 1223's management team is seasoned and experienced (5.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Tun Nei Cheng
Chairman & CEO4.83yrsHK$2.62m39.78% HK$1.1b
Kar Lee Chan
COO & Executive Director6.5yrsHK$2.16m0.30% HK$8.1m
Cheung Ming Lee
Head of Real Estate Division & Executive Director1.5yrsHK$1.58m3.23% HK$86.4m
Wang Kei Wah
Independent Non-Executive Director6.67yrsHK$170.00kno data
Yu-Chun Chow
Independent Non-Executive Director5.58yrsHK$170.00kno data
Pui Kay Shum
Independent Non-Executive Director6.67yrsHK$160.00k0.34% HK$9.0m

6.0yrs

Average Tenure

60yo

Average Age

Experienced Board: 1223's board of directors are considered experienced (6 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: 1223 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

Symphony Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Symphony Holdings Limited
  • Ticker: 1223
  • Exchange: SEHK
  • Founded: 1990
  • Industry: Apparel Retail
  • Sector: Retail
  • Market Cap: HK$2.677b
  • Shares outstanding: 2.97b
  • Website: https://www.symphonyholdings.com

Number of Employees


Location

  • Symphony Holdings Limited
  • Island Place Tower
  • 10th Floor
  • North Point
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1223SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDMar 1995
YMP3DB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 1995

Biography

Symphony Holdings Limited, an investment holding company, primarily operates as a retailing company. The company is involved in the retailing and provision of sourcing services for branded apparel, swimwear, and accessories; manufacturing and trading of healthcare products; and development and management of PONY and SKINS trademarks. It also manages and operates outlet malls, duty free shops, and fashion stores; and provides financial services, including securities brokerage, margin financing, underwriting and placing, financial consulting, and money lending services. In addition, the company offers information, technology, corporate, and portfolio management services; accountancy, legal, secretarial, and cruiser services; and online trading platform support services. Further, it engages in the trading, retailing, and distribution of swimming apparel and accessories; property investment and holding activities; holding of club debentures; sub-licensing of trademark rights; and trading and wholesaling of sportswear. Symphony Holdings Limited operates in the People's Republic of China, Hong Kong, other Asian countries, the United States, and internationally. The company was formerly known as Liang Shing (Holdings) Limited and changed its name to Symphony Holdings Limited in 1997. Symphony Holdings Limited was founded in 1990 and is base in North Point, Hong Kong. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/10 12:39
End of Day Share Price2020/07/10 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.