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China MeiDong Auto Holdings

SEHK:1268
Snowflake Description

Outstanding track record and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1268
SEHK
HK$4B
Market Cap
  1. Home
  2. HK
  3. Retail
Company description

China MeiDong Auto Holdings Limited, an investment holding company, operates as an automobile dealer in Mainland China. The last earnings update was 73 days ago. More info.


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1268 Share Price and Events
7 Day Returns
-1.3%
SEHK:1268
0.5%
HK Specialty Retail
1.9%
HK Market
1 Year Returns
33.8%
SEHK:1268
-12.9%
HK Specialty Retail
-4.9%
HK Market
1268 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China MeiDong Auto Holdings (1268) -1.3% -9% -11.9% 33.8% 291% -
HK Specialty Retail 0.5% 0.9% -1.8% -12.9% 41.9% -16.1%
HK Market 1.9% 3.6% -2.2% -4.9% 29.3% 147.5%
1 Year Return vs Industry and Market
  • 1268 outperformed the Specialty Retail industry which returned -12.9% over the past year.
  • 1268 outperformed the Market in Hong Kong which returned -4.9% over the past year.
Price Volatility
1268
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for China MeiDong Auto Holdings's competitors could be found in our database.

1268 Value

 Is China MeiDong Auto Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of China MeiDong Auto Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for China MeiDong Auto Holdings.

SEHK:1268 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.7%
Perpetual Growth Rate 10-Year HK Government Bond Rate 2.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SEHK:1268
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2.2%
Equity Risk Premium S&P Global 7.8%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.79
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.794 (1 + (1- 25%) (29.05%))
0.967
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.2% + (0.967 * 7.8%)
9.75%

Discounted Cash Flow Calculation for SEHK:1268 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China MeiDong Auto Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:1268 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 239.00 366.00 431.88 505.30 586.15
Source Analyst x1 Analyst x1 Est @ 18%, capped from 21.04% Est @ 17%, capped from 21.04% Est @ 16%, capped from 21.04%
Present Value
Discounted (@ 9.75%)
217.77 303.88 326.73 348.33 368.18
Present value of next 5 years cash flows $1,564.89
SEHK:1268 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $586.15 × (1 + 2.2%) ÷ (9.75% – 2.2%)
$7,941.59
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $7,941.59 ÷ (1 + 9.75%)5
$4,988.36
SEHK:1268 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $1,564.89 + $4,988.36
$6,553.25
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $6,553.25 / 1,152.65
$5.69
SEHK:1268 Discount to Share Price
Calculation Result
Exchange Rate USD/HKD
(Reporting currency to currency of SEHK:1268)
1.128
Value per Share
(HKD)
= Value per Share in USD x Exchange Rate (USD/HKD)
= $5.69 x 1.128
HK$6.42
Value per share (HKD) From above. HK$6.42
Current discount Discount to share price of HK$3.05
= -1 x (HK$3.05 - HK$6.42) / HK$6.42
52.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price China MeiDong Auto Holdings is available for.
Intrinsic value
>50%
Share price is HK$3.05 vs Future cash flow value of HK$6.42
Current Discount Checks
For China MeiDong Auto Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China MeiDong Auto Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China MeiDong Auto Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for China MeiDong Auto Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China MeiDong Auto Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1268 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in USD $0.29
SEHK:1268 Share Price ** SEHK (2018-11-16) in HKD HK$3.05
SEHK:1268 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.886 $2.7
Hong Kong Specialty Retail Industry PE Ratio Median Figure of 37 Publicly-Listed Specialty Retail Companies 9.8x
Hong Kong Market PE Ratio Median Figure of 1,470 Publicly-Listed Companies 10.86x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of China MeiDong Auto Holdings.

SEHK:1268 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1268 Share Price ÷ EPS (both in USD)

= 2.7 ÷ 0.29

9.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China MeiDong Auto Holdings is good value based on earnings compared to the HK Specialty Retail industry average.
  • China MeiDong Auto Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does China MeiDong Auto Holdings's expected growth come at a high price?
Raw Data
SEHK:1268 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
24.6%per year
Hong Kong Specialty Retail Industry PEG Ratio Median Figure of 15 Publicly-Listed Specialty Retail Companies 0.52x
Hong Kong Market PEG Ratio Median Figure of 457 Publicly-Listed Companies 0.72x

*Line of best fit is calculated by linear regression .

SEHK:1268 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.31x ÷ 24.6%

0.38x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China MeiDong Auto Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on China MeiDong Auto Holdings's assets?
Raw Data
SEHK:1268 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in USD $1.06
SEHK:1268 Share Price * SEHK (2018-11-16) in HKD HK$3.05
SEHK:1268 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.886 $2.7
Hong Kong Specialty Retail Industry PB Ratio Median Figure of 58 Publicly-Listed Specialty Retail Companies 0.86x
Hong Kong Market PB Ratio Median Figure of 2,079 Publicly-Listed Companies 0.96x
SEHK:1268 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1268 Share Price ÷ Book Value per Share (both in USD)

= 2.7 ÷ 1.06

2.54x

* Primary Listing of China MeiDong Auto Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China MeiDong Auto Holdings is overvalued based on assets compared to the HK Specialty Retail industry average.
X
Value checks
We assess China MeiDong Auto Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Specialty Retail industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Specialty Retail industry average (and greater than 0)? (1 check)
  5. China MeiDong Auto Holdings has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

1268 Future Performance

 How is China MeiDong Auto Holdings expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China MeiDong Auto Holdings expected to grow at an attractive rate?
  • China MeiDong Auto Holdings's earnings growth is expected to exceed the low risk savings rate of 2.2%.
Growth vs Market Checks
  • China MeiDong Auto Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • China MeiDong Auto Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1268 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1268 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 24.6%
SEHK:1268 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 17.8%
Hong Kong Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 18.2%
Hong Kong Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 8.3%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:1268 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1268 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 13,515 649 562 3
2019-12-31 11,711 518 456 3
2018-12-31 9,637 377 343 3
SEHK:1268 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-06-30 8,697 295 325
2018-03-31 8,190 290 301
2017-12-31 7,683 286 276
2017-09-30 7,340 241 237
2017-06-30 6,997 197 197
2017-03-31 6,630 249 175
2016-12-31 6,263 300 152
2016-09-30 5,770 284 133
2016-06-30 5,276 267 114
2016-03-31 5,042 235 108
2015-12-31 4,808 203 102
2015-09-30 4,498 245 95

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China MeiDong Auto Holdings's earnings are expected to grow significantly at over 20% yearly.
  • China MeiDong Auto Holdings's revenue is expected to grow by 17.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:1268 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from China MeiDong Auto Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1268 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.49 0.56 0.44 3.00
2019-12-31 0.40 0.45 0.36 3.00
2018-12-31 0.30 0.32 0.29 3.00
SEHK:1268 Past Financials Data
Date (Data in USD Millions) EPS *
2018-06-30 0.29
2018-03-31 0.27
2017-12-31 0.25
2017-09-30 0.22
2017-06-30 0.18
2017-03-31 0.16
2016-12-31 0.14
2016-09-30 0.12
2016-06-30 0.10
2016-03-31 0.10
2015-12-31 0.10
2015-09-30 0.09

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • China MeiDong Auto Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess China MeiDong Auto Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
China MeiDong Auto Holdings has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

1268 Past Performance

  How has China MeiDong Auto Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare China MeiDong Auto Holdings's growth in the last year to its industry (Specialty Retail).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • China MeiDong Auto Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • China MeiDong Auto Holdings's 1-year earnings growth exceeds its 5-year average (64.8% vs 26.6%)
  • China MeiDong Auto Holdings's earnings growth has exceeded the HK Specialty Retail industry average in the past year (64.8% vs 29.3%).
Earnings and Revenue History
China MeiDong Auto Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from China MeiDong Auto Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1268 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 8,697.20 325.43 576.76
2018-03-31 8,189.96 300.61 539.76
2017-12-31 7,682.71 275.79 502.77
2017-09-30 7,340.00 236.63 475.41
2017-06-30 6,997.29 197.46 448.05
2017-03-31 6,630.31 174.76 414.50
2016-12-31 6,263.32 152.06 380.95
2016-09-30 5,769.81 132.79 355.80
2016-06-30 5,276.30 113.53 330.65
2016-03-31 5,042.14 107.84 304.10
2015-12-31 4,807.98 102.16 277.55
2015-09-30 4,497.55 94.85 256.99
2015-06-30 4,187.11 87.53 236.42
2015-03-31 4,020.96 99.11 228.06
2014-12-31 3,854.81 110.68 219.70
2014-09-30 3,808.81 123.51 210.85
2014-06-30 3,762.81 136.33 202.00
2014-03-31 3,621.23 121.14 189.40
2013-12-31 3,479.66 105.96 176.81
2013-09-30 3,233.61 84.90 166.42
2013-06-30 2,987.55 63.84 156.03
2013-03-31 2,968.52 55.74 151.96
2012-12-31 2,949.50 47.65 147.89
2011-12-31 2,824.06 76.68 123.07

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • China MeiDong Auto Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • China MeiDong Auto Holdings used its assets more efficiently than the HK Specialty Retail industry average last year based on Return on Assets.
  • China MeiDong Auto Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess China MeiDong Auto Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Specialty Retail industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
China MeiDong Auto Holdings has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

1268 Health

 How is China MeiDong Auto Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up China MeiDong Auto Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China MeiDong Auto Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China MeiDong Auto Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China MeiDong Auto Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from China MeiDong Auto Holdings Company Filings, last reported 4 months ago.

SEHK:1268 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 1,258.15 904.97 611.77
2018-03-31 1,258.15 904.97 611.77
2017-12-31 1,093.62 821.92 545.21
2017-09-30 1,093.62 821.92 545.21
2017-06-30 934.07 829.63 394.70
2017-03-31 934.07 829.63 394.70
2016-12-31 902.29 784.62 426.17
2016-09-30 902.29 784.62 426.17
2016-06-30 805.22 698.54 301.50
2016-03-31 805.22 698.54 301.50
2015-12-31 793.65 779.92 253.92
2015-09-30 793.65 779.92 253.92
2015-06-30 742.44 802.14 378.88
2015-03-31 742.44 802.14 378.88
2014-12-31 565.30 729.61 272.58
2014-09-30 565.30 729.61 272.58
2014-06-30 524.67 810.41 239.87
2014-03-31 524.67 810.41 239.87
2013-12-31 477.21 804.73 491.21
2013-09-30 477.21 804.73 491.21
2013-06-30 41.39 721.66 147.41
2013-03-31 41.39 721.66 147.41
2012-12-31 458.97 568.63 158.57
2011-12-31 378.94 463.57 100.22
  • China MeiDong Auto Holdings's level of debt (71.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (1566.5% vs 71.9% today).
  • Debt is well covered by operating cash flow (32.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.5x coverage).
X
Financial health checks
We assess China MeiDong Auto Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. China MeiDong Auto Holdings has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

1268 Dividends

 What is China MeiDong Auto Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.78%
Current annual income from China MeiDong Auto Holdings dividends. Estimated to be 6.66% next year.
If you bought HK$2,000 of China MeiDong Auto Holdings shares you are expected to receive HK$96 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • China MeiDong Auto Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2%).
  • China MeiDong Auto Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.77%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:1268 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Hong Kong Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 5.2%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 919 Stocks 3.7%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:1268 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.23 1.00
2019-12-31 0.18 1.00
2018-12-31 0.13 1.00
SEHK:1268 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-08-20 0.129 4.403
2018-05-17 0.123 4.362
2017-09-08 0.070 3.025
2017-08-24 0.070 3.099
2017-05-18 0.064 3.418
2016-05-16 0.046 4.936
2015-03-31 0.030 3.553
2014-04-02 0.030 2.133
2014-03-25 0.030 2.369

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, China MeiDong Auto Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but China MeiDong Auto Holdings only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of China MeiDong Auto Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess China MeiDong Auto Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can China MeiDong Auto Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China MeiDong Auto Holdings has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

1268 Management

 What is the CEO of China MeiDong Auto Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tao Ye
COMPENSATION $3,155,000
AGE 51
CEO Bio

Mr. Tao Ye serves as the Chief Executive Officer of China MeiDong Auto Holdings Limited. Mr. Ye is responsible for overseeing the daily operations and management of the Group, planning its business and marketing strategies and supervising investor relationship. He served as General Manager of Asian Operations of EMC Document Sciences Corp, since July 2004. He served as Chief Executive of Objective Software Solutions (Beijing). He has been Executive Director at China MeiDong Auto Holdings Limited since November 24, 2012. Mr. Ye graduated from Massachusetts Institute of Technology with a Master of Science degree in Management and a Master of Science degree in Mechanical Engineering. He holds an MBA from the MIT Sloan School of Business and a M.S. in Materials Science from the University of California Santa Barbara and a B.S. in Mathematical Mechanics from Peking (Beijing) University.

CEO Compensation
  • Tao's compensation has been consistent with company performance over the past year.
  • Tao's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Fan Ye

TITLE
Founder and Chairman
COMPENSATION
$3M
AGE
46

Tao Ye

TITLE
Chief Executive Officer and Executive Director
COMPENSATION
$3M
AGE
51

Xuehua Liu

TITLE
Chief Financial Officer and Executive Director
COMPENSATION
$2M
AGE
54
TENURE
2.6 yrs

Liuyu Luo

TITLE
Vice President of Human Resources and Administration
AGE
34

Feixue Wang

TITLE
Vice President of Sales and Marketing
AGE
37

Johnny Wong

TITLE
Company Secretary
AGE
35

Bin Yu

TITLE
Vice President of After-Sales Operations Unit
AGE
55

Saijin Chen

TITLE
Vice President of Purchasing and Projects
AGE
37

Bit Chee Lo

TITLE
Vice President of Internal Audit and Information Technology
AGE
60
Board of Directors Tenure

Average tenure and age of the China MeiDong Auto Holdings board of directors in years:

5
Average Tenure
48
Average Age
  • The tenure for the China MeiDong Auto Holdings board of directors is about average.
Board of Directors

Fan Ye

TITLE
Founder and Chairman
COMPENSATION
$3M
AGE
46

Tao Ye

TITLE
Chief Executive Officer and Executive Director
COMPENSATION
$3M
AGE
51
TENURE
6.8 yrs

Xuehua Liu

TITLE
Chief Financial Officer and Executive Director
COMPENSATION
$2M
AGE
54
TENURE
5 yrs

Terence Jip

TITLE
Independent Non-Executive Director
COMPENSATION
$144K
AGE
48
TENURE
5 yrs

Michael Wang

TITLE
Independent Non-Executive Director
COMPENSATION
$44K
AGE
48
TENURE
3.4 yrs

Guiyi Chen

TITLE
Independent Non-Executive Director
AGE
39
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
23. Jan 18 Sell RAYS Capital Partners Limited Company 19. Jan 18 19. Jan 18 -27,000,000 HK$2.50 HK$-67,500,016
30. Jan 18 Sell RAYS Capital Partners Limited Company 26. Jan 18 26. Jan 18 -1,000,000 HK$2.75 HK$-2,750,001
06. Feb 18 Sell Pacific Alliance Investment Management Limited Company 02. Feb 18 02. Feb 18 -13,000,000 HK$2.50 HK$-32,500,041
X
Management checks
We assess China MeiDong Auto Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. China MeiDong Auto Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

1268 News

External News
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Simply Wall St News

Why Fundamental Investors Might Love China MeiDong Auto Holdings Limited (HKG:1268)

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on China MeiDong Auto Holdings Limited (HKG:1268) due to its excellent fundamentals in more than one area.

Simply Wall St -

China MeiDong Auto Holdings Limited (HKG:1268): Is Growth Priced In?

China MeiDong Auto Holdings Limited (HKG:1268) is considered a high growth stock. … Check out our latest analysis for China MeiDong Auto Holdings? … If you are bullish about China MeiDong Auto Holdings's growth potential then you are certainly not alone

Simply Wall St -

Is China MeiDong Auto Holdings Limited (HKG:1268) A Smart Choice For Dividend Investors?

Historically, China MeiDong Auto Holdings Limited (HKG:1268) has paid a dividend to shareholders. … Let's take a look at China MeiDong Auto Holdings in more detail. … See our latest analysis for China MeiDong Auto Holdings

Simply Wall St -

China MeiDong Auto Holdings Limited (HKG:1268) Delivered A Better ROE Than The Industry, Here’s Why

By way of learning-by-doing, we'll look at ROE to gain a better understanding China MeiDong Auto Holdings Limited (HKG:1268). … Our data shows China MeiDong Auto Holdings has a return on equity of 26% for the last year. … See our latest analysis for China MeiDong Auto Holdings?

Simply Wall St -

What does China MeiDong Auto Holdings Limited's (HKG:1268) Balance Sheet Tell Us About Its Future?

China MeiDong Auto Holdings Limited (HKG:1268) is a small-cap stock with a market capitalization of HK$4.35b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Companies operating in the Specialty Retail industry facing headwinds from current disruption,.

Simply Wall St -

Have Investors Priced In China MeiDong Auto Holdings Limited's (HKG:1268) Growth?

China MeiDong Auto Holdings Limited (HKG:1268), a specialty retail company based in China,. … A question to answer is whether China MeiDong Auto Holdings's current trading price of HK$2.54 reflective of the actual value of the? … Let’s take a look at China MeiDong Auto Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

China MeiDong Auto Holdings Limited (HKG:1268): Is Retail Attractive?

operates in the retail industry. … Looking at trends for growth in macroeconomic factors such as inflation, consumer confidence and interest rates are important when thinking about investing in the retail industry … Retail analysts are forecasting for the entire industry,

Simply Wall St -

Who Really Owns China MeiDong Auto Holdings Limited (HKG:1268)?

Today, I will be analyzing China MeiDong Auto Holdings Limited’s (HKG:1268) recent ownership structure, an important but not-so-popular subject among individual investors. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment. … Therefore, it is beneficial for us to examine 1268's ownership structure in more detail.

Simply Wall St -

Investors Are Undervaluing China MeiDong Auto Holdings Limited (HKG:1268) By 47.26%

by projecting its future cash flows and then discounting them to today's value. … Discounted Cash Flows (DCF). … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Is China MeiDong Auto Holdings Limited (HKG:1268) A Smart Pick For Income Investors?

Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. … Over the past 4 years, China MeiDong Auto Holdings Limited (HKG:1268) has returned an average of 3.00% per year to shareholders in terms of dividend yield. … Let's take a look at China MeiDong Auto Holdings in more detail.

Simply Wall St -

1268 Company Info

Map
Description

China MeiDong Auto Holdings Limited, an investment holding company, operates as an automobile dealer in Mainland China. The company is involved in the sale of new passenger cars and spare parts; and trading of used vehicles. It also provides after-sales services, such as auto registration, insurance, auto financing mortgage, auto parts, repair and replacement, and sales and maintenance of automotive supplies, etc. In addition, the company engages in the finance leasing activity. Its dealership stores cover various automobile brands comprising BMW, Lexus, Toyota, Hyundai, and Porsche. It operates 39 4S dealership stores. The company was founded in 2003 and is headquartered in Dongguan, the People’s Republic of China. China MeiDong Auto Holdings Limited is a subsidiary of Apex Sail Limited.

Details
Name: China MeiDong Auto Holdings Limited
1268
Exchange: SEHK
Founded: 2003
HK$3,515,593,522
1,152,653,614
Website: http://www.meidongauto.com
Address: China MeiDong Auto Holdings Limited
Unit A1, Tian An Tech Industry Building,
13th Floor,
Dongguan,
Guangdong Province, China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1268 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 05. Dec 2013
BST 55M Ordinary Shares Boerse-Stuttgart DE EUR 05. Dec 2013
Number of employees
Current staff
Staff numbers
3,758
China MeiDong Auto Holdings employees.
Industry
Automotive Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/19 02:33
End of day share price update: 2018/11/16 00:00
Last estimates confirmation: 2018/10/30
Last earnings filing: 2018/09/07
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.