SEHK:1184

Stock Analysis Report

S.A.S. Dragon Holdings

Executive Summary

S.A.S. Dragon Holdings Limited, an investment holding company, distributes electronic components, semiconductor, and light-emitting diode (LED) products.

Rewards

Trading at 93.9% below its fair value

Risk Analysis

Has a high level of debt

Unstable dividend track record

Large one-off items impacting financial results



Snowflake Analysis

Good value with adequate balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has S.A.S. Dragon Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 1184 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.6%

1184

3.9%

HK Electronic

3.5%

HK Market


1 Year Return

8.8%

1184

19.7%

HK Electronic

2.3%

HK Market

Return vs Industry: 1184 underperformed the Hong Kong Electronic industry which returned 19.7% over the past year.

Return vs Market: 1184 exceeded the Hong Kong Market which returned 2.3% over the past year.


Shareholder returns

1184IndustryMarket
7 Day3.6%3.9%3.5%
30 Day4.0%12.3%3.1%
90 Day8.4%12.8%1.1%
1 Year18.6%8.8%23.3%19.7%6.0%2.3%
3 Year119.7%72.7%24.9%14.7%25.4%12.7%
5 Year114.9%49.7%107.3%80.5%23.0%2.4%

Price Volatility Vs. Market

How volatile is S.A.S. Dragon Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is S.A.S. Dragon Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 1184 (HK$2.59) is trading below our estimate of fair value (HK$42.39)

Significantly Below Fair Value: 1184 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 1184 is good value based on its PE Ratio (6x) compared to the Electronic industry average (9.4x).

PE vs Market: 1184 is good value based on its PE Ratio (6x) compared to the Hong Kong market (10.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 1184's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 1184 is overvalued based on its PB Ratio (1x) compared to the HK Electronic industry average (0.9x).


Next Steps

Future Growth

How is S.A.S. Dragon Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

24.4%

Forecasted Tech 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 S.A.S. Dragon 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 S.A.S. Dragon Holdings performed over the past 5 years?

22.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1184 has a large one-off gain of HK$71.8M impacting its June 30 2019 financial results.

Growing Profit Margin: 1184's current net profit margins (1.3%) are higher than last year (1.3%).


Past Earnings Growth Analysis

Earnings Trend: 1184's earnings have grown significantly by 22.1% per year over the past 5 years.

Accelerating Growth: 1184's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1184 had negative earnings growth (-17.6%) over the past year, making it difficult to compare to the Electronic industry average (-8.8%).


Return on Equity

High ROE: 1184's Return on Equity (18.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is S.A.S. Dragon Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 1184's short term assets (HK$4.1B) exceed its short term liabilities (HK$3.5B).

Long Term Liabilities: 1184's short term assets (HK$4.1B) exceed its long term liabilities (HK$351.2M).


Debt to Equity History and Analysis

Debt Level: 1184's debt to equity ratio (145.7%) is considered high.

Reducing Debt: 1184's debt to equity ratio has increased from 128.5% to 145.7% over the past 5 years.

Debt Coverage: 1184's debt is well covered by operating cash flow (50.5%).

Interest Coverage: 1184's interest payments on its debt are well covered by EBIT (3.4x coverage).


Balance Sheet

Inventory Level: 1184 has a high level of physical assets or inventory.

Debt Coverage by Assets: 1184's debt is covered by short term assets (assets are 1.5x debt).


Next Steps

Dividend

What is S.A.S. Dragon Holdings's current dividend yield, its reliability and sustainability?

7.72%

Current Dividend Yield


Dividend Yield vs Market

company7.7%marketbottom25%2.2%markettop25%6.2%industryaverage2.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: 1184's dividend (7.72%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.21%).

High Dividend: 1184's dividend (7.72%) is in the top 25% of dividend payers in the Hong Kong market (6.15%)


Stability and Growth of Payments

Stable Dividend: 1184's dividend payments have been volatile in the past 10 years.

Growing Dividend: 1184's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.3%), 1184's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of S.A.S. Dragon Holdings's salary, the management and board of directors tenure and is there insider trading?

15.3yrs

Average board tenure


CEO

Stanley Yim (59yo)

0yrs

Tenure

HK$14,788,000

Compensation

Mr. Yuk-Lun Yim, also known as Stanley, JP, founded S.A.S. Dragon Holdings Limited and has been its Executive Chairman and General Manager/Managing Director since May 25, 1993. Mr. Yim serves as Chairman o ...


CEO Compensation Analysis

Compensation vs Market: Stanley's total compensation ($USD1.90M) is above average for companies of similar size in the Hong Kong market ($USD294.15K).

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


Board Age and Tenure

15.3yrs

Average Tenure

59yo

Average Age

Experienced Board: 1184's board of directors are seasoned and experienced ( 15.3 years average tenure).


Insider Trading

Insider Buying: 1184 insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyHK$125,00011 Dec 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares50,000
Max PriceHK$2.50
BuyHK$185,00004 Dec 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares74,000
Max PriceHK$2.50
BuyHK$165,00029 Nov 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares66,000
Max PriceHK$2.50
BuyHK$55,00028 Nov 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares22,000
Max PriceHK$2.50
BuyHK$155,00026 Nov 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares62,000
Max PriceHK$2.50
BuyHK$5,00025 Nov 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares2,000
Max PriceHK$2.50
BuyHK$343,62020 Nov 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares138,000
Max PriceHK$2.49
BuyHK$80,00019 Nov 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares32,000
Max PriceHK$2.50
BuyHK$169,32019 Nov 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares68,000
Max PriceHK$2.49
BuyHK$9,84015 Nov 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares4,000
Max PriceHK$2.46
BuyHK$1,879,44008 Nov 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares764,000
Max PriceHK$2.46
BuyHK$143,84005 Nov 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares58,000
Max PriceHK$2.48
BuyHK$122,00029 Oct 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares50,000
Max PriceHK$2.44
BuyHK$286,74028 Oct 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares118,000
Max PriceHK$2.43
BuyHK$641,90015 Oct 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares262,000
Max PriceHK$2.45
BuyHK$348,60015 Oct 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares140,000
Max PriceHK$2.49
BuyHK$206,80011 Oct 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares88,000
Max PriceHK$2.35
BuyHK$70,20004 Oct 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares30,000
Max PriceHK$2.34
BuyHK$18,72004 Oct 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares8,000
Max PriceHK$2.34
BuyHK$84,60027 Sep 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares36,000
Max PriceHK$2.35
BuyHK$121,16020 Sep 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares52,000
Max PriceHK$2.33
BuyHK$23,20019 Sep 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares10,000
Max PriceHK$2.32
BuyHK$366,60012 Sep 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares156,000
Max PriceHK$2.35
BuyHK$235,00009 Sep 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares100,000
Max PriceHK$2.35
BuyHK$755,24005 Sep 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares316,000
Max PriceHK$2.39
BuyHK$4,536,28704 Sep 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares1,906,000
Max PriceHK$2.38
BuyHK$41,94029 Aug 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares18,000
Max PriceHK$2.33
BuyHK$4,72029 Aug 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares2,000
Max PriceHK$2.36
BuyHK$1,959,89728 Aug 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares834,000
Max PriceHK$2.35
BuyHK$499,20019 Jul 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares208,000
Max PriceHK$2.40
BuyHK$2,425,19915 Jul 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares1,032,000
Max PriceHK$2.35
BuyHK$1,378,24009 Jul 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares584,000
Max PriceHK$2.36
BuyHK$1,257,68908 Jul 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares530,000
Max PriceHK$2.37
BuyHK$1,193,80128 Jun 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares508,000
Max PriceHK$2.35
BuyHK$47,94027 Jun 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares20,000
Max PriceHK$2.40
BuyHK$191,16017 Jun 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares80,000
Max PriceHK$2.39
BuyHK$38,08017 Jun 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares16,000
Max PriceHK$2.38
BuyHK$1,288,34612 Jun 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares548,000
Max PriceHK$2.35
BuyHK$54,48006 Jun 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares24,000
Max PriceHK$2.27
BuyHK$2,547,18006 Jun 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares1,068,000
Max PriceHK$2.39
BuyHK$4,561,11303 Jun 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares1,966,000
Max PriceHK$2.32
BuyHK$230,00020 May 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares92,000
Max PriceHK$2.50
BuyHK$106,68016 May 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares42,000
Max PriceHK$2.54
BuyHK$200,00008 May 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares80,000
Max PriceHK$2.50
BuyHK$363,79208 May 19
Yuk-Lun Yim
EntityIndividual
Role
Chief Executive Officer
Founder
Shares132,000
Max PriceHK$2.76

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Stanley Yim (59yo)

    Founder

    • Tenure: 0yrs
    • Compensation: HK$14.79m
  • David Wong (65yo)

    Executive Director

    • Tenure: 16.9yrs
    • Compensation: HK$1.22m
  • Peter Wong (48yo)

    CFO, Company Secretary & Executive Director

    • Tenure: 3yrs
    • Compensation: HK$1.89m
  • Jacky Yim (34yo)

    Executive Director

    • Tenure: 6.6yrs
    • Compensation: HK$1.52m
  • Danny Chin (62yo)

    Chief Treasury Officer

    • Tenure: 29.9yrs

Board Members

  • Wilfred Liu (58yo)

    Independent Non-Executive Director

    • Tenure: 18.9yrs
  • Stanley Yim (59yo)

    Founder

    • Tenure: 0yrs
    • Compensation: HK$14.79m
  • Adrian Wong (64yo)

    Independent Non-Executive Director

    • Tenure: 20.9yrs
    • Compensation: HK$100.00k
  • David Wong (65yo)

    Executive Director

    • Tenure: 16.9yrs
    • Compensation: HK$1.22m
  • Chi Kwan Cheung (59yo)

    Independent Non-Executive Director

    • Tenure: 15.3yrs
    • Compensation: HK$100.00k
  • Peter Wong (48yo)

    CFO, Company Secretary & Executive Director

    • Tenure: 3yrs
    • Compensation: HK$1.89m
  • Jacky Yim (34yo)

    Executive Director

    • Tenure: 6.6yrs
    • Compensation: HK$1.52m
  • Wai Kin Wong (73yo)

    Independent Non-Executive Director

    • Tenure: 1.8yrs
    • Compensation: HK$100.00k

Company Information

S.A.S. Dragon Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: S.A.S. Dragon Holdings Limited
  • Ticker: 1184
  • Exchange: SEHK
  • Founded: 1981
  • Industry: Technology Distributors
  • Sector: Tech
  • Market Cap: HK$1.621b
  • Shares outstanding: 625.84m
  • Website: https://www.sasdragon.com.hk

Number of Employees


Location

  • S.A.S. Dragon Holdings Limited
  • S.A.S. Tower
  • 19th Floor
  • Kwai Chung
  • New Territories
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1184SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJan 1995

Biography

S.A.S. Dragon Holdings Limited, an investment holding company, distributes electronic components, semiconductor, and light-emitting diode (LED) products. The company provides electronic supply chain servic ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/14 12:34
End of Day Share Price2019/12/13 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.