SEHK:780

Stock Analysis Report

Tongcheng-Elong Holdings

Executive Summary

Tongcheng-Elong Holdings Limited, an investment holding company, provides travel related services in the People’s Republic of China.

Snowflake

Fundamentals

Excellent balance sheet with reasonable growth potential.

Risks

  • Tongcheng-Elong Holdings has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-2.6%

SEHK:780

4.8%

HK Online Retail

1.9%

HK Market


1 Year Return

n/a

SEHK:780

-43.4%

HK Online Retail

-10.4%

HK Market

No trading data on 780.

No trading data on 780.


Share holder returns

780IndustryMarket
7 Day-2.6%4.8%1.9%
30 Day-21.8%3.9%-6.8%
90 Day-15.7%10.5%-4.2%
1 Yearn/a-43.4%-43.4%-7.2%-10.4%
3 Yearn/a-63.2%-63.4%15.3%3.9%
5 Yearn/a-45.8%-46.8%10.1%-8.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Tongcheng-Elong Holdings undervalued based on future cash flows and its price relative to the stock market?

39%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Tongcheng-Elong Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).

Tongcheng-Elong Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Tongcheng-Elong Holdings is overvalued based on earnings compared to the Asia Online Retail industry average.

Tongcheng-Elong Holdings is overvalued based on earnings compared to the Hong Kong market.


Price Based on Expected Growth

Tongcheng-Elong Holdings is poor value based on expected growth next year.


Price Based on Value of Assets

Tongcheng-Elong Holdings is good value based on assets compared to the HK Online Retail industry average.


Next Steps

Future Growth

How is Tongcheng-Elong Holdings expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

38.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Tongcheng-Elong Holdings's revenue is expected to grow by 18.5% yearly, however this is not considered high growth (20% yearly).

Tongcheng-Elong Holdings's earnings are expected to grow significantly at over 20% yearly.

Tongcheng-Elong Holdings's revenue growth is expected to exceed the Hong Kong market average.

Tongcheng-Elong Holdings's earnings growth is expected to exceed the Hong Kong market average.

Tongcheng-Elong Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.


Earnings per Share Growth Estimates


Future Return on Equity

Tongcheng-Elong Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Tongcheng-Elong Holdings performed over the past 5 years?

78.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Tongcheng-Elong Holdings has delivered over 20% year on year earnings growth in the past 5 years.

Tongcheng-Elong Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Tongcheng-Elong Holdings's 1-year earnings growth is negative, it can't be compared to the Asia Online Retail industry average.


Return on Equity

Tongcheng-Elong Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Tongcheng-Elong Holdings used its assets less efficiently than the Asia Online Retail industry average last year based on Return on Assets.


Return on Capital Employed

Tongcheng-Elong Holdings has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).


Next Steps

Financial Health

How is Tongcheng-Elong Holdings's financial position?


Financial Position Analysis

Tongcheng-Elong Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Tongcheng-Elong Holdings's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Tongcheng-Elong Holdings's level of debt (1.3%) compared to net worth is satisfactory (less than 40%).

Unable to establish if Tongcheng-Elong Holdings's debt level has increased without past 5-year debt data.

Debt is well covered by operating cash flow (1177.4%, greater than 20% of total debt).

Tongcheng-Elong Holdings earns more interest than it pays, coverage of interest payments is not a concern.


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 48.5x debt.


Next Steps

Dividend

What is Tongcheng-Elong Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate Tongcheng-Elong Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Tongcheng-Elong Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Tongcheng-Elong Holdings has not reported any payouts.

Unable to verify if Tongcheng-Elong Holdings's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Tongcheng-Elong Holdings has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of Tongcheng-Elong Holdings's dividends in 3 years as they are not expected to pay a notable one for Hong Kong.


Next Steps

Management

What is the CEO of Tongcheng-Elong Holdings's salary, the management and board of directors tenure and is there insider trading?

1.4yrs

Average management tenure


CEO

Heping Ma (41yo)

1.3yrs

Tenure

0

Mr. Ma Heping has been Executive Director of Tongcheng-Elong Holdings Limited since June 2018 and has been its Chief Executive Officer since April 2018. 


Management Age and Tenure

1.4yrs

Average Tenure

38yo

Average Age

The average tenure for the Tongcheng-Elong Holdings management team is less than 2 years, this suggests a new team.


Board Age and Tenure

1.4yrs

Average Tenure

46yo

Average Age

The average tenure for the Tongcheng-Elong Holdings board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyCN¥11,063,37215 May 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares654,800
Max PriceCN¥16.90
BuyCN¥8,673,52313 May 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares484,400
Max PriceCN¥17.91
BuyCN¥8,938,30009 May 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares500,000
Max PriceCN¥17.88
SellCN¥15,281,42811 Apr 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares805,600
Max PriceCN¥18.97
BuyCN¥19,382,54608 Apr 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares1,066,000
Max PriceCN¥18.18
SellCN¥4,438,20904 Apr 19
JPMorgan Chase & Co, Brokerage and Securities Investments
EntityCompany
Shares255,200
Max PriceCN¥17.39
BuyCN¥6,907,42103 Apr 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares400,400
Max PriceCN¥17.25
SellCN¥32,590,24313 Mar 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares2,174,800
Max PriceCN¥14.99
BuyCN¥6,243,86011 Mar 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares412,000
Max PriceCN¥15.15
SellCN¥19,496,67008 Jan 19
JPMorgan Chase & Co, Brokerage and Securities Investments
EntityCompany
Shares1,695,200
Max PriceCN¥11.50
SellCN¥58,733,33007 Jan 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares6,461,880
Max PriceCN¥9.09
BuyCN¥3,187,33207 Jan 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares280,800
Max PriceCN¥11.35

Ownership Breakdown


Management Team

  • Zhixiang Wu (42yo)

    Co-Chairman

    • Tenure: 1.4yrs
  • Heping Ma (41yo)

    CEO & Executive Director

    • Tenure: 1.3yrs
  • Jiazhu Wu (34yo)

    Chief Strategy Officer

    • Tenure: 1.4yrs
  • Lei Fan (37yo)

    Chief Financial Officer

    • Tenure: 1.4yrs
  • Qiang Wang (38yo)

    Chief Marketing Officer

    • Tenure: 1.4yrs

Board Members

  • James Liang (49yo)

    Co-Chairman

    • Tenure: 1.4yrs
  • Xiaojing Dai (60yo)

    Independent Non-Executive Director

    • Tenure: 0.0yrs
  • Eric Wu (47yo)

    Independent Non-Executive Director

    • Tenure: 0.0yrs
  • Jiang Hao (46yo)

    Non-Executive Director

    • Tenure: 3.3yrs
  • Haifeng Lin (42yo)

    Non-Executive Director

    • Tenure: 3.6yrs
  • Brent Richard Irvin (46yo)

    Non-Executive Director

    • Tenure: 1.4yrs
  • Zhixiang Wu (42yo)

    Co-Chairman

    • Tenure: 1.4yrs
  • Heping Ma (41yo)

    CEO & Executive Director

    • Tenure: 1.3yrs
  • Yuling Han (63yo)

    Independent Non-Executive Director

    • Tenure: 0.0yrs

Company Information

Tongcheng-Elong Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tongcheng-Elong Holdings Limited
  • Ticker: 780
  • Exchange: SEHK
  • Founded: 1999
  • Industry: Internet and Direct Marketing Retail
  • Sector: Retail
  • Market Cap: HK$25.327b
  • Shares outstanding: 2.11b
  • Website: https://www.tcelir.com

Number of Employees


Location

  • Tongcheng-Elong Holdings Limited
  • Tongcheng Mansion
  • No.188 Yuxin Road
  • Suzhou
  • Jiangsu Province
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
780SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDNov 2018
TEMDUSE (Dusseldorf Stock Exchange)YesOrdinary SharesDEEURNov 2018
TEMDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2018
780SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDNov 2018
780SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDNov 2018

Biography

Tongcheng-Elong Holdings Limited, an investment holding company, provides travel related services in the People’s Republic of China. It offers various products and services covering a range of aspects of t ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/25 13:17
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.