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Tianli Holdings Group

SEHK:117
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
117
SEHK
HK$626M
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

Tianli Holdings Group Limited, an investment holding company, manufactures, sells, and trades in multi-layer ceramic chips (MLCC) in Mainland China, Hong Kong, and internationally. The last earnings update was 121 days ago. More info.


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  • Tianli Holdings Group has significant price volatility in the past 3 months.
117 Share Price and Events
7 Day Returns
-4.5%
SEHK:117
2.4%
HK Electronic
1.6%
HK Market
1 Year Returns
-37.3%
SEHK:117
-41.1%
HK Electronic
-18.9%
HK Market
117 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tianli Holdings Group (117) -4.5% -15.2% -29.4% -37.3% -77.3% -
HK Electronic 2.4% 4.6% -5.2% -41.1% 22.9% 33.4%
HK Market 1.6% 3.5% 3.8% -18.9% 30.5% 9.9%
1 Year Return vs Industry and Market
  • 117 outperformed the Electronic industry which returned -41.1% over the past year.
  • 117 underperformed the Market in Hong Kong which returned -18.9% over the past year.
Price Volatility
117
Industry
5yr Volatility vs Market

117 Value

 Is Tianli Holdings Group 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 Tianli Holdings Group 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 Tianli Holdings Group.

SEHK:117 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 12.2%
Perpetual Growth Rate 10-Year HK Government Bond Rate 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:117
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 8%
Electronic Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.815 (1 + (1- 25%) (75.74%))
1.278
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.28
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.278 * 8%)
12.22%

Discounted Cash Flow Calculation for SEHK:117 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tianli Holdings Group 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:117 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (CNY, Millions) 298.85 355.63 419.64 490.98 569.54
Source Est @ 20%, capped from 29.51% Est @ 19%, capped from 29.51% Est @ 18%, capped from 29.51% Est @ 17%, capped from 29.51% Est @ 16%, capped from 29.51%
Present Value
Discounted (@ 12.22%)
266.30 282.39 296.93 309.58 320.00
Present value of next 5 years cash flows CN¥1,475.20
SEHK:117 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= CN¥569.54 × (1 + 2%) ÷ (12.22% – 2%)
CN¥5,685.46
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= CN¥5,685.46 ÷ (1 + 12.22%)5
CN¥3,194.42
SEHK:117 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= CN¥1,475.20 + CN¥3,194.42
CN¥4,669.62
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥4,669.62 / 744.75
CN¥6.27
SEHK:117 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:117)
1.157
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥6.27 x 1.157
HK$7.26
Value per share (HKD) From above. HK$7.26
Current discount Discount to share price of HK$0.84
= -1 x (HK$0.84 - HK$7.26) / HK$7.26
88.4%

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

Current Discount
Amount off the current price Tianli Holdings Group is available for.
Intrinsic value
>50%
Share price is HK$0.84 vs Future cash flow value of HK$7.26
Current Discount Checks
For Tianli Holdings Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tianli Holdings Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tianli Holdings Group'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 Tianli Holdings Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tianli Holdings Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:117 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in CNY CN¥0.41
SEHK:117 Share Price ** SEHK (2019-01-18) in HKD HK$0.84
SEHK:117 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.864 CN¥0.73
Hong Kong Electronic Industry PE Ratio Median Figure of 59 Publicly-Listed Electronic Companies 7.97x
Hong Kong Market PE Ratio Median Figure of 1,480 Publicly-Listed Companies 10.38x

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

** Primary Listing of Tianli Holdings Group.

SEHK:117 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:117 Share Price ÷ EPS (both in CNY)

= 0.73 ÷ 0.41

1.78x

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

  • Tianli Holdings Group is good value based on earnings compared to the HK Electronic industry average.
  • Tianli Holdings Group is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Tianli Holdings Group's expected growth come at a high price?
Raw Data
SEHK:117 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Hong Kong Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 0.58x
Hong Kong Market PEG Ratio Median Figure of 460 Publicly-Listed Companies 0.71x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Tianli Holdings Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tianli Holdings Group's assets?
Raw Data
SEHK:117 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in CNY CN¥1.38
SEHK:117 Share Price * SEHK (2019-01-18) in HKD HK$0.84
SEHK:117 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.864 CN¥0.73
Hong Kong Electronic Industry PB Ratio Median Figure of 81 Publicly-Listed Electronic Companies 1.1x
Hong Kong Market PB Ratio Median Figure of 2,115 Publicly-Listed Companies 0.92x
SEHK:117 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:117 Share Price ÷ Book Value per Share (both in CNY)

= 0.73 ÷ 1.38

0.53x

* Primary Listing of Tianli Holdings Group.

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

  • Tianli Holdings Group is good value based on assets compared to the HK Electronic industry average.
X
Value checks
We assess Tianli Holdings Group'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Tianli Holdings Group 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.

117 Future Performance

 How is Tianli Holdings Group expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 Tianli Holdings Group 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
16.7%
Expected Electronic industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tianli Holdings Group expected to grow at an attractive rate?
  • Unable to compare Tianli Holdings Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Tianli Holdings Group's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare Tianli Holdings Group's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:117 Future Growth Rates Data Sources
Data Point Source Value (per year)
Hong Kong Electronic Industry Earnings Growth Rate Market Cap Weighted Average 16.7%
Hong Kong Electronic Industry Revenue Growth Rate Market Cap Weighted Average 15.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.2%

*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:117 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:117 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:117 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-06-30 1,640 302 300
2018-03-31 1,599 182 217
2017-12-31 1,558 62 134
2017-09-30 1,377 -175 55
2017-06-30 1,196 -411 -25
2017-03-31 1,050 -341 -47
2016-12-31 904 -270 -69
2016-09-30 741 -109 -56
2016-06-30 578 53 -43
2016-03-31 548 40 -38
2015-12-31 518 27 -33
2015-09-30 490 4 -42

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Tianli Holdings Group is high growth as no earnings estimate data is available.
  • Unable to determine if Tianli Holdings Group is high growth as no revenue estimate data is available.
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:117 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Tianli Holdings Group Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:117 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:117 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-06-30 0.41
2018-03-31 0.30
2017-12-31 0.19
2017-09-30 0.08
2017-06-30 -0.04
2017-03-31 -0.08
2016-12-31 -0.13
2016-09-30 -0.11
2016-06-30 -0.08
2016-03-31 -0.08
2015-12-31 -0.07
2015-09-30 -0.10

*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.
  • Unable to establish if Tianli Holdings Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Tianli Holdings Group is trading at Tianli Holdings Group'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Tianli Holdings Group's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Tech companies here
  3. Tianli Holdings Group's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Tianli Holdings Group'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.
Tianli Holdings Group has a total score of 0/6, 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.

117 Past Performance

  How has Tianli Holdings Group 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 Tianli Holdings Group's growth in the last year to its industry (Electronic).
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.
  • Tianli Holdings Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Tianli Holdings Group has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Tianli Holdings Group has become profitable in the last year making it difficult to compare the HK Electronic industry average.
Earnings and Revenue History
Tianli Holdings Group'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 Tianli Holdings Group Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:117 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 1,640.42 300.38 149.49 54.10
2018-03-31 1,599.04 217.20 150.58 47.17
2017-12-31 1,557.65 134.03 151.68 40.24
2017-09-30 1,376.76 54.53 136.38 32.51
2017-06-30 1,195.86 -24.98 121.08 24.77
2017-03-31 1,050.01 -46.93 104.60 22.77
2016-12-31 904.17 -68.87 88.13 20.76
2016-09-30 740.90 -55.78 74.32 25.06
2016-06-30 577.63 -42.68 60.51 29.35
2016-03-31 547.76 -37.83 55.85 31.92
2015-12-31 517.89 -32.98 51.18 34.49
2015-09-30 490.22 -41.75 53.29 33.45
2015-06-30 462.56 -50.52 55.41 32.40
2015-03-31 464.57 -48.71 56.26 32.41
2014-12-31 466.58 -46.89 57.12 32.42
2014-06-30 485.92 -8.80 55.60 32.66
2014-03-31 499.53 -3.95 55.83 27.13
2013-12-31 513.15 0.91 56.07 21.60
2013-06-30 620.56 2.75 62.23 7.28
2013-03-31 579.45 -2.70 59.05 7.50
2012-12-31 538.34 -8.16 55.88 7.71
2012-09-30 503.27 -5.45 48.80 7.16
2012-06-30 468.21 -2.74 41.77 6.60
2012-03-31 474.81 5.91 41.01 6.88

*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.
  • Tianli Holdings Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Tianli Holdings Group used its assets more efficiently than the HK Electronic industry average last year based on Return on Assets.
  • Tianli Holdings Group 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).
X
Past performance checks
We assess Tianli Holdings Group'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 Electronic 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.
Tianli Holdings Group has a total score of 4/6, 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.

117 Health

 How is Tianli Holdings Group'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 Tianli Holdings Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tianli Holdings Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tianli Holdings Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tianli Holdings Group'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.1x 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 Tianli Holdings Group Company Filings, last reported 6 months ago.

SEHK:117 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 1,039.65 409.40 220.38
2018-03-31 1,039.65 409.40 220.38
2017-12-31 843.46 912.47 668.92
2017-09-30 843.46 912.47 668.92
2017-06-30 738.13 926.75 553.20
2017-03-31 738.13 926.75 553.20
2016-12-31 389.77 733.82 129.70
2016-09-30 389.77 733.82 129.70
2016-06-30 426.28 426.80 269.08
2016-03-31 426.28 426.80 269.08
2015-12-31 442.79 415.70 464.64
2015-09-30 442.79 415.70 464.64
2015-06-30 384.62 80.97 32.39
2015-03-31 384.62 80.97 32.39
2014-12-31 393.63 67.36 29.43
2014-06-30 434.31 76.99 52.59
2014-03-31 434.31 76.99 52.59
2013-12-31 441.97 170.28 56.85
2013-06-30 444.18 131.82 62.32
2013-03-31 444.18 131.82 62.32
2012-12-31 445.69 144.60 48.73
2012-09-30 445.69 144.60 48.73
2012-06-30 436.54 125.36 34.42
2012-03-31 436.54 125.36 34.42
  • Tianli Holdings Group's level of debt (39.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (29.7% vs 39.4% today).
  • Debt is well covered by operating cash flow (73.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 11.1x coverage).
X
Financial health checks
We assess Tianli Holdings Group'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. Tianli Holdings Group 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.

117 Dividends

 What is Tianli Holdings Group'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
0%
Current annual income from Tianli Holdings Group dividends.
If you bought HK$2,000 of Tianli Holdings Group shares you are expected to receive HK$0 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?
  • Unable to evaluate Tianli Holdings Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Tianli Holdings Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:117 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 0 Analyst Estimates (S&P Global) See Below
Hong Kong Electronic Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 3.6%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 918 Stocks 3.7%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.9%

Industry and Market average data is calculated daily.

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

SEHK:117 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
SEHK:117 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2012-09-18 0.000 0.000
2012-09-03 0.000 0.000
2012-04-02 0.000 0.000
2011-05-03 0.025 3.997
2011-03-18 0.025 3.664
2010-04-19 0.023 3.098
2009-09-09 0.000 0.000
2009-04-27 0.000 0.000
2009-01-20 0.050 10.066

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

  • Unable to perform a dividend volatility check as Tianli Holdings Group has not reported any payouts.
  • Unable to verify if Tianli Holdings Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Tianli Holdings Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Tianli Holdings Group has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Tianli Holdings Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Tianli Holdings Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tianli Holdings Group has a total score of 0/6, see the detailed checks below.


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

117 Management

 What is the CEO of Tianli Holdings Group'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
Zhifeng Jin
COMPENSATION CN¥5,652,080
AGE 54
TENURE AS CEO 1.4 years
CEO Bio

Mr. Zhifeng Jin has been Chief Executive Officer and Executive Director of Tianli Holdings Group Limited since August 25, 2017. Mr. Jin is a public valuer certified by the Ministry of Finance of the People's Republic of China, a member of the China Appraisal Society and a certified senior economist. Before joining Tianli Holdings Group, Mr. Jin had held various senior executive positions at a nationwide asset management company in China with extensive experience in investment banking and asset management. He received his master's degree in Finance from Hunan University (formerly known as Hunan College of Finance and Economics) in 1999 and a doctor's degree in Business Administration from Beijing Normal University in 2016.

CEO Compensation
  • Insufficient data for Zhifeng to compare compensation growth.
  • Zhifeng's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Tianli Holdings Group management team in years:

1.4
Average Tenure
44
Average Age
  • The average tenure for the Tianli Holdings Group management team is less than 2 years, this suggests a new team.
Management Team

Chunhua Zhou

TITLE
Chairman of the Board
COMPENSATION
CN¥4M
AGE
41

Zhifeng Jin

TITLE
CEO & Executive Director
COMPENSATION
CN¥6M
AGE
54
TENURE
1.4 yrs

Wenping Jing

TITLE
Executive Director
COMPENSATION
CN¥693K
AGE
36

Tong Pan

TITLE
Chief Risk Officer & Executive Director
COMPENSATION
CN¥1M
AGE
47
TENURE
1.4 yrs

Zhao Lei

TITLE
Chief Technician of Mobile Phone Related Business

Chou Bang Benjamin

TITLE
Company Secretary
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure and age of the Tianli Holdings Group board of directors in years:

2
Average Tenure
50.5
Average Age
  • The average tenure for the Tianli Holdings Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Chunhua Zhou

TITLE
Chairman of the Board
COMPENSATION
CN¥4M
AGE
41
TENURE
1 yrs

Zhifeng Jin

TITLE
CEO & Executive Director
COMPENSATION
CN¥6M
AGE
54
TENURE
1.4 yrs

Wenping Jing

TITLE
Executive Director
COMPENSATION
CN¥693K
AGE
36
TENURE
5.7 yrs

Tong Pan

TITLE
Chief Risk Officer & Executive Director
COMPENSATION
CN¥1M
AGE
47
TENURE
1.4 yrs

Peleus Chu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥157K
AGE
54
TENURE
11.8 yrs

Xuechuan Xu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥157K
AGE
55
TENURE
3.5 yrs

Edmond To

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥157K
AGE
46
TENURE
2.5 yrs

David Tsoi

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥54K
AGE
71
TENURE
1.4 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$) Value (HK$)
16. Apr 18 Buy Chunhua Zhou Individual 13. Apr 18 13. Apr 18 1,400,000 HK$1.50 HK$2,099,997
X
Management checks
We assess Tianli Holdings Group'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. Tianli Holdings Group 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.

117 News

External News
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Simply Wall St News

How Much Of Tianli Holdings Group Limited (HKG:117) Do Insiders Own?

The big shareholder groups in Tianli Holdings Group Limited (HKG:117) have power over the company. … With a market capitalization of HK$670m, Tianli Holdings Group is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for Tianli Holdings Group

Simply Wall St -

What Investors Should Know About Tianli Holdings Group Limited's (HKG:117) Financial Strength

While small-cap stocks, such as Tianli Holdings Group Limited (HKG:117) with its market cap of HK$745m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

What Do You Get For Owning Tianli Holdings Group Limited (HKG:117)?

and want a simplistic look at the return on Tianli Holdings Group Limited (HKG:117) stock. … To understand Tianli Holdings Group’s capital returns we will look at a useful metric called return on capital employed. … What is Return on Capital Employed (ROCE)?

Simply Wall St -

Looking At Tianli Holdings Group Limited (HKG:117) From All Angles

Tianli Holdings Group Limited (HKG:117) is a company with exceptional fundamental characteristics. … is a company that has been able to sustain great financial health, trading at an attractive share price. … report on Tianli Holdings Group here

Simply Wall St -

Are Tianli Holdings Group Limited's (HKG:117) Interest Costs Too High?

While small-cap stocks, such as Tianli Holdings Group Limited (HKG:117) with its market cap of CN¥1.19b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Is Tianli Holdings Group Limited's (HKG:117) 15.72% ROE Strong Compared To Its Industry?

and looking to gauge the potential return on investment in Tianli Holdings Group Limited (HKG:117). … With an ROE of 15.72%, Tianli Holdings Group Limited (HKG:117) outpaced its own industry which delivered a less exciting 10.79% over the past year. … But ROE does not capture any debt, so we only see high profits and low equity, which is great on the surface

Simply Wall St -

Best Rated SEHK Stocks For Cheap

Tianli Holdings Group and Tomson Group are two of the companies on my list that I consider are undervalued. … SEHK:117 PE PEG Gauge Jun 10th 18 Tomson Group Limited (SEHK:258) Tomson Group Limited, an investment holding company, engages in property development and investment, hospitality and leisure, securities trading, PVC, and media and entertainment investment businesses in Hong Kong, Macau, and Mainland China. … In addition to this, 258’s PE ratio is trading at 4.69x against its its Real Estate peer level of, 7.3x indicating that relative to its comparable company group, you can buy 258 for a cheaper price.

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Is Tianli Holdings Group Limited's (HKG:117) PE Ratio A Signal To Buy For Investors?

By comparing a stock’s price per share to its earnings per share, we are able to see how much investors are paying for each dollar of the company’s earnings. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for 117 Price per share = CN¥0.81 Earnings per share = CN¥0.186 ∴ Price-Earnings Ratio = CN¥0.81 ÷ CN¥0.186 = 4.4x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … 117’s P/E of 4.4x is lower than its industry peers (11.3x), which implies that each dollar of 117’s earnings is being undervalued by investors.

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Best Undervalued Stock Picks

Tianli Holdings Group and Future World Financial Holdings may be trading at prices below their likely values. … Tianli Holdings Group Limited (SEHK:117) Tianli Holdings Group Limited, an investment holding company, manufactures, sells, and trades in multi-layer ceramic chips (MLCC) in Mainland China and internationally. … SEHK:117 PE PEG Gauge May 10th 18 Future World Financial Holdings Limited (SEHK:572) Future World Financial Holdings Limited, an investment holding company, engages in trading business and related service activities in the People’s Republic of China.

Simply Wall St -

Tianli Holdings Group Limited (HKG:117) Delivered A Better ROE Than The Industry, Here’s Why

Check out our latest analysis for Tianli Holdings Group Breaking down ROE — the mother of all ratios Return on Equity (ROE) is a measure of Tianli Holdings Group’s profit relative to its shareholders’ equity. … For now, let’s just look at the cost of equity number for Tianli Holdings Group, which is 14.94%. … Tianli Holdings Group’s above-industry ROE is encouraging, and is also in excess of its cost of equity.

Simply Wall St -

117 Company Info

Map
Description

Tianli Holdings Group Limited, an investment holding company, manufactures, sells, and trades in multi-layer ceramic chips (MLCC) in Mainland China, Hong Kong, and internationally. It operates through three segments: Manufacture and Sale of MLCC, Investment and Financial Services, and Other General Trading. The company offers investment and financial services, including direct investments in debt and equity assets; asset management; financial technologies; and financial advisory services. It also trades in commodities, such as metals, minerals, and petroleum products. In addition, the company engages in the leasing of properties. The company was formerly known as EYANG Holdings (Group) Co., Limited and changed its name to Tianli Holdings Group Limited in July 2016. Tianli Holdings Group Limited was founded in 2001 and is headquartered in Admiralty, Hong Kong.

Details
Name: Tianli Holdings Group Limited
117
Exchange: SEHK
Founded: 2001
HK$625,590,000
744,750,000
Website: http://www.tlhg.com.hk
Address: Tianli Holdings Group Limited
Three Pacific Place,
9th Floor,
Admiralty,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 117 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 21. Dec 2007
DB 4EY Ordinary Shares Deutsche Boerse AG DE EUR 21. Dec 2007
DB 4EY HKD0.01 Deutsche Boerse AG DE EUR 19. Jan 2019
SEHK 117 HKD0.01 The Stock Exchange of Hong Kong Ltd. HK HKD 19. Jan 2019
Number of employees
Current staff
Staff numbers
1,412
Tianli Holdings Group employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/19 12:46
End of day share price update: 2019/01/18 00:00
Last estimates confirmation: 2017/04/27
Last earnings filing: 2018/09/20
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.