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S.A.S. Dragon Holdings

SEHK:1184
Snowflake Description

Undervalued with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1184
SEHK
HK$1B
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

S.A.S. Dragon Holdings Limited, an investment holding company, distributes electronic components, semiconductor, and light-emitting diode (LED) products. The last earnings update was 44 days ago. More info.


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  • S.A.S. Dragon Holdings has significant price volatility in the past 3 months.
1184 Share Price and Events
7 Day Returns
-7.7%
SEHK:1184
-5.6%
HK Electronic
-2.4%
HK Market
1 Year Returns
-16.9%
SEHK:1184
-44.2%
HK Electronic
-16.5%
HK Market
1184 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
S.A.S. Dragon Holdings (1184) -7.7% -18.9% -7.7% -16.9% 83.1% -27.2%
HK Electronic -5.6% -22.3% -24.3% -44.2% -2.5% 12.2%
HK Market -2.4% -10.2% -8.1% -16.5% 19.3% 4.8%
1 Year Return vs Industry and Market
  • 1184 outperformed the Electronic industry which returned -44.2% over the past year.
Price Volatility
1184
Industry
5yr Volatility vs Market

1184 Value

 Is S.A.S. Dragon 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 S.A.S. Dragon 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 S.A.S. Dragon Holdings.

SEHK:1184 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 15.3%
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:1184
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.042 (1 + (1- 25%) (212.81%))
2.142
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (2 * 6.65%)
15.3%

Discounted Cash Flow Calculation for SEHK:1184 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for S.A.S. Dragon Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:1184 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 15.3%)
2019 1,292.17 Est @ 66.36% 1,120.67
2020 1,900.17 Est @ 47.05% 1,429.26
2021 2,537.44 Est @ 33.54% 1,655.29
2022 3,148.39 Est @ 24.08% 1,781.26
2023 3,697.95 Est @ 17.46% 1,814.50
2024 4,172.00 Est @ 12.82% 1,775.42
2025 4,571.45 Est @ 9.57% 1,687.21
2026 4,905.31 Est @ 7.3% 1,570.15
2027 5,185.55 Est @ 5.71% 1,439.56
2028 5,424.09 Est @ 4.6% 1,305.93
Present value of next 10 years cash flows HK$15,579.25
SEHK:1184 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$5,424.09 × (1 + 2%) ÷ (15.3% – 2%)
HK$41,599.50
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$41,599.50 ÷ (1 + 15.3%)10
HK$10,015.72
SEHK:1184 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$15,579.25 + HK$10,015.72
HK$25,594.97
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$25,594.97 / 625.84
HK$40.9
SEHK:1184 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$40.90
Current discount Discount to share price of HK$2.27
= -1 x (HK$2.27 - HK$40.90) / HK$40.90
94.4%

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

Current Discount
Amount off the current price S.A.S. Dragon Holdings is available for.
Intrinsic value
>50%
Share price is HK$2.27 vs Future cash flow value of HK$40.9
Current Discount Checks
For S.A.S. Dragon Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • S.A.S. Dragon Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • S.A.S. Dragon 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 S.A.S. Dragon Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are S.A.S. Dragon Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1184 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.50
SEHK:1184 Share Price ** SEHK (2019-05-24) in HKD HK$2.27
Hong Kong Electronic Industry PE Ratio Median Figure of 59 Publicly-Listed Electronic Companies 10.92x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 10.99x

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

** Primary Listing of S.A.S. Dragon Holdings.

SEHK:1184 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1184 Share Price ÷ EPS (both in HKD)

= 2.27 ÷ 0.50

4.54x

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

  • S.A.S. Dragon Holdings is good value based on earnings compared to the HK Electronic industry average.
  • S.A.S. Dragon Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does S.A.S. Dragon Holdings's expected growth come at a high price?
Raw Data
SEHK:1184 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-3.8%per year
Hong Kong Electronic Industry PEG Ratio Median Figure of 13 Publicly-Listed Electronic Companies 0.45x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.76x

*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 S.A.S. Dragon Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on S.A.S. Dragon Holdings's assets?
Raw Data
SEHK:1184 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$2.45
SEHK:1184 Share Price * SEHK (2019-05-24) in HKD HK$2.27
Hong Kong Electronic Industry PB Ratio Median Figure of 83 Publicly-Listed Electronic Companies 1.13x
Hong Kong Market PB Ratio Median Figure of 2,157 Publicly-Listed Companies 0.94x
SEHK:1184 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1184 Share Price ÷ Book Value per Share (both in HKD)

= 2.27 ÷ 2.45

0.93x

* Primary Listing of S.A.S. Dragon Holdings.

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

  • S.A.S. Dragon Holdings is good value based on assets compared to the HK Electronic industry average.
X
Value checks
We assess S.A.S. Dragon 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 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. S.A.S. Dragon 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.

1184 Future Performance

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

  • No analysts cover S.A.S. Dragon Holdings, future earnings growth has been estimated based on fundamentals.
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
-3.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is S.A.S. Dragon Holdings expected to grow at an attractive rate?
  • S.A.S. Dragon Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2%.
Growth vs Market Checks
  • S.A.S. Dragon Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • Unable to compare S.A.S. Dragon Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1184 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1184 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -3.8%
Hong Kong Electronic Industry Earnings Growth Rate Market Cap Weighted Average 18.1%
Hong Kong Electronic Industry Revenue Growth Rate Market Cap Weighted Average 12.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.1%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.5%

*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:1184 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1184 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 25,274 955 313
2018-09-30 25,171 863 321
2018-06-30 25,069 746 328
2018-03-31 22,265 48 316
2017-12-31 19,462 -627 303
2017-09-30 16,451 -1,156 274
2017-06-30 13,440 -1,685 244
2017-03-31 11,890 -1,057 223
2016-12-31 10,340 -428 202
2016-09-30 10,280 54 153
2016-06-30 10,220 536 103
2016-03-31 10,741 589 92

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • S.A.S. Dragon Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if S.A.S. Dragon Holdings 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:1184 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 0 Analyst Estimates (S&P Global) See Below

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

SEHK:1184 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.50
2018-09-30 0.51
2018-06-30 0.52
2018-03-31 0.50
2017-12-31 0.49
2017-09-30 0.44
2017-06-30 0.39
2017-03-31 0.36
2016-12-31 0.32
2016-09-30 0.24
2016-06-30 0.17
2016-03-31 0.15

*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 S.A.S. Dragon Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess S.A.S. Dragon 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.
S.A.S. Dragon Holdings 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.

1184 Past Performance

  How has S.A.S. Dragon 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 S.A.S. Dragon Holdings'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.
  • S.A.S. Dragon Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • S.A.S. Dragon Holdings's 1-year earnings growth is less than its 5-year average (3.3% vs 20.7%)
  • S.A.S. Dragon Holdings's earnings growth has exceeded the HK Electronic industry average in the past year (3.3% vs -4.6%).
Earnings and Revenue History
S.A.S. Dragon 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 S.A.S. Dragon Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1184 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 25,273.86 313.10 410.46
2018-09-30 25,171.29 320.65 407.81
2018-06-30 25,068.71 328.21 405.16
2018-03-31 22,265.32 315.61 402.47
2017-12-31 19,461.92 303.00 399.79
2017-09-30 16,450.76 273.70 382.80
2017-06-30 13,439.60 244.39 365.81
2017-03-31 11,889.60 223.11 322.03
2016-12-31 10,339.60 201.84 278.24
2016-09-30 10,279.82 152.51 268.85
2016-06-30 10,220.03 103.17 259.46
2016-03-31 10,741.09 91.85 259.64
2015-12-31 11,262.15 80.53 259.82
2015-09-30 11,097.10 108.07 244.66
2015-06-30 10,932.05 135.62 229.49
2015-03-31 10,768.70 140.55 221.39
2014-12-31 10,605.35 145.48 213.28
2014-09-30 10,802.12 156.25 215.01
2014-06-30 10,998.89 167.02 216.74
2014-03-31 10,898.25 169.57 217.29
2013-12-31 10,797.61 172.13 217.84
2013-09-30 9,607.14 151.74 212.86
2013-06-30 8,416.66 131.34 207.89
2013-03-31 7,367.86 111.10 198.84
2012-12-31 6,319.05 90.85 189.79
2012-06-30 5,691.35 95.37 182.00

*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.
  • Whilst S.A.S. Dragon Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • S.A.S. Dragon Holdings used its assets more efficiently than the HK Electronic industry average last year based on Return on Assets.
  • S.A.S. Dragon Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess S.A.S. Dragon 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 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.
S.A.S. Dragon Holdings 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.

1184 Health

 How is S.A.S. Dragon 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 S.A.S. Dragon Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • S.A.S. Dragon Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • S.A.S. Dragon Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of S.A.S. Dragon 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 1.7x 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 S.A.S. Dragon Holdings Company Filings, last reported 4 months ago.

SEHK:1184 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,690.34 3,023.34 939.84
2018-09-30 1,690.34 3,023.34 939.84
2018-06-30 1,594.78 3,588.45 1,039.54
2018-03-31 1,594.78 3,588.45 1,039.54
2017-12-31 1,453.86 3,157.25 583.84
2017-09-30 1,453.86 3,157.25 583.84
2017-06-30 1,216.12 3,539.82 554.78
2017-03-31 1,216.12 3,539.82 554.78
2016-12-31 1,138.00 2,290.47 632.15
2016-09-30 1,138.00 2,290.47 632.15
2016-06-30 1,000.66 1,815.09 779.31
2016-03-31 1,000.66 1,815.09 779.31
2015-12-31 1,000.59 1,682.83 683.68
2015-09-30 1,000.59 1,682.83 683.68
2015-06-30 1,018.41 1,747.63 634.12
2015-03-31 1,018.41 1,747.63 634.12
2014-12-31 1,000.74 1,926.50 818.97
2014-09-30 1,000.74 1,926.50 818.97
2014-06-30 982.00 1,254.96 816.01
2014-03-31 982.00 1,254.96 816.01
2013-12-31 878.40 901.28 631.65
2013-09-30 878.40 901.28 631.65
2013-06-30 772.14 1,338.82 622.22
2013-03-31 772.14 1,338.82 622.22
2012-12-31 716.73 882.41 462.38
2012-06-30 626.36 833.41 494.96
  • S.A.S. Dragon Holdings's level of debt (178.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (102.9% vs 178.9% today).
  • Debt is well covered by operating cash flow (31.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.5x coverage).
X
Financial health checks
We assess S.A.S. Dragon 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. S.A.S. Dragon Holdings has a total score of 4/6, 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.

1184 Dividends

 What is S.A.S. Dragon 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
9.25%
Current annual income from S.A.S. Dragon Holdings dividends.
If you bought HK$2,000 of S.A.S. Dragon Holdings shares you are expected to receive HK$185 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?
  • S.A.S. Dragon Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.1%).
  • S.A.S. Dragon Holdings's dividend is above the markets top 25% of dividend payers in Hong Kong (5.83%).
Upcoming dividend payment

Purchase S.A.S. Dragon Holdings before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:1184 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 39 Stocks 3.2%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 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 5.8%

Industry and Market average data is calculated daily.

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

SEHK:1184 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-11 0.210 8.185
2019-03-27 0.210 7.917
2018-08-27 0.202 8.271
2018-04-18 0.200 7.900
2018-03-27 0.200 7.934
2017-08-28 0.113 4.266
2017-04-13 0.100 4.826
2016-09-05 0.080 5.192
2016-05-19 0.070 5.534
2015-08-24 0.115 8.291
2015-04-14 0.120 6.359
2015-03-26 0.120 6.172
2014-04-08 0.133 5.883
2014-03-25 0.133 4.336
2013-04-09 0.075 4.706
2013-03-25 0.075 8.378
2012-08-27 0.065 8.136
2012-03-26 0.065 7.340
2011-08-23 0.065 7.812
2011-03-28 0.065 6.101
2010-08-23 0.048 5.005
2010-04-16 0.065 7.011
2009-08-31 0.023 3.832

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of S.A.S. Dragon Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
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 S.A.S. Dragon Holdings'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 S.A.S. Dragon Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. S.A.S. Dragon Holdings has a total score of 4/6, see the detailed checks below.


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

1184 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?

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
Stanley Yim
COMPENSATION HK$14,788,000
AGE 58
CEO Bio

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 of Yan Chai Hospital. He has been Chairman of Hi-Level Technology Holdings Limited since October 1, 2015. Mr. Yim is a Member of Yun Fu City Committee of Chinese People's Political Consultative Conference, Member of Shanghai Committee of Chinese People's Political Consultative Conference, Life Member of Yan Chai Hospital Advisory Board, Member of Independent Police Complaints Council, Chairman of Tsuen Wan District Fight Crime Committee, Member of Hong Kong Professionals and Senior Executives Association, Honorary Life Chairman of the Hong Kong Trade Services Council, Vice Chairman of the Hong Kong Electronic Industries Association Ltd. and Justice of the Peace of the Hong Kong Special Administrative Region. He is the Owner of Unimicro Limited. He serves as an Independent Director of Innolux Corporation since June 19, 2016. He graduated from high school.

CEO Compensation
  • Stanley's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Stanley's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Stanley Yim

TITLE
Founder
COMPENSATION
HK$15M
AGE
58

Peter Wong

TITLE
CFO, Company Secretary & Executive Director
COMPENSATION
HK$1M
AGE
47
TENURE
14.3 yrs

David Wong

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
64

Jacky Yim

TITLE
Executive Director
COMPENSATION
HK$1M
AGE
33

Danny Chin

TITLE
Chief Treasury Officer
AGE
61
TENURE
29.3 yrs
Board of Directors Tenure

Average tenure and age of the S.A.S. Dragon Holdings board of directors in years:

14.7
Average Tenure
58
Average Age
  • The average tenure for the S.A.S. Dragon Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Stanley Yim

TITLE
Founder
COMPENSATION
HK$15M
AGE
58

Peter Wong

TITLE
CFO, Company Secretary & Executive Director
COMPENSATION
HK$1M
AGE
47
TENURE
2.4 yrs

David Wong

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
64
TENURE
16.3 yrs

Jacky Yim

TITLE
Executive Director
COMPENSATION
HK$1M
AGE
33
TENURE
6 yrs

Adrian Wong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$100K
AGE
63
TENURE
20.3 yrs

Chi Kwan Cheung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$100K
AGE
58
TENURE
14.7 yrs

Wilfred Liu

TITLE
Independent Non-Executive Director
AGE
57
TENURE
18.3 yrs

Wai Kin Wong

TITLE
Independent Non-Executive Director
AGE
72
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by S.A.S. Dragon Holdings insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
20. May 19 Buy Yuk-Lun Yim Individual 16. May 19 16. May 19 92,000 HK$2.50 HK$230,000
16. May 19 Buy Yuk-Lun Yim Individual 15. May 19 15. May 19 42,000 HK$2.54 HK$106,680
08. May 19 Buy Yuk-Lun Yim Individual 29. Apr 19 29. Apr 19 132,000 HK$2.76 HK$363,792
08. May 19 Buy Yuk-Lun Yim Individual 06. May 19 06. May 19 80,000 HK$2.50 HK$200,000
03. Dec 18 Buy Yuk-Lun Yim Individual 30. Nov 18 30. Nov 18 4,000 HK$2.41 HK$9,640
23. Nov 18 Buy Yuk-Lun Yim Individual 22. Nov 18 22. Nov 18 30,000 HK$2.40 HK$72,000
22. Nov 18 Buy Yuk-Lun Yim Individual 21. Nov 18 21. Nov 18 104,000 HK$2.42 HK$251,576
07. Nov 18 Buy Yuk-Lun Yim Individual 06. Nov 18 06. Nov 18 22,000 HK$2.36 HK$51,920
06. Nov 18 Buy Yuk-Lun Yim Individual 05. Nov 18 05. Nov 18 24,000 HK$2.36 HK$56,640
05. Nov 18 Buy Yuk-Lun Yim Individual 02. Nov 18 02. Nov 18 392,000 HK$2.44 HK$956,479
02. Nov 18 Buy Yuk-Lun Yim Individual 01. Nov 18 01. Nov 18 62,000 HK$2.41 HK$149,420
26. Oct 18 Buy Yuk-Lun Yim Individual 25. Oct 18 25. Oct 18 38,000 HK$2.35 HK$89,300
24. Oct 18 Buy Yuk-Lun Yim Individual 23. Oct 18 23. Oct 18 208,000 HK$2.40 HK$498,575
25. Oct 18 Buy Yuk-Lun Yim Individual 24. Oct 18 24. Oct 18 96,000 HK$2.40 HK$230,400
23. Oct 18 Buy Yuk-Lun Yim Individual 22. Oct 18 22. Oct 18 196,000 HK$2.40 HK$470,399
22. Oct 18 Buy Yuk-Lun Yim Individual 19. Oct 18 19. Oct 18 138,000 HK$2.40 HK$331,200
19. Oct 18 Buy Yuk-Lun Yim Individual 18. Oct 18 18. Oct 18 40,000 HK$2.39 HK$95,600
15. Oct 18 Buy Yuk-Lun Yim Individual 12. Oct 18 12. Oct 18 170,000 HK$2.37 HK$402,900
12. Oct 18 Buy Yuk-Lun Yim Individual 11. Oct 18 11. Oct 18 136,000 HK$2.37 HK$322,864
09. Oct 18 Buy Yuk-Lun Yim Individual 08. Oct 18 08. Oct 18 78,000 HK$2.42 HK$188,448
08. Oct 18 Buy Yuk-Lun Yim Individual 05. Oct 18 05. Oct 18 50,000 HK$2.40 HK$119,800
27. Sep 18 Buy Yuk-Lun Yim Individual 26. Sep 18 26. Sep 18 316,000 HK$2.51 HK$793,159
24. Sep 18 Buy Yuk-Lun Yim Individual 21. Sep 18 21. Sep 18 276,000 HK$2.48 HK$684,481
20. Sep 18 Buy Yuk-Lun Yim Individual 19. Sep 18 19. Sep 18 70,000 HK$2.46 HK$172,200
18. Sep 18 Buy Yuk-Lun Yim Individual 18. Sep 18 18. Sep 18 68,000 HK$2.44 HK$165,920
18. Sep 18 Buy Yuk-Lun Yim Individual 17. Sep 18 17. Sep 18 54,000 HK$2.42 HK$130,680
17. Sep 18 Buy Yuk-Lun Yim Individual 14. Sep 18 14. Sep 18 166,000 HK$2.45 HK$406,700
14. Sep 18 Buy Yuk-Lun Yim Individual 13. Sep 18 13. Sep 18 50,000 HK$2.44 HK$121,900
13. Sep 18 Buy Yuk-Lun Yim Individual 11. Sep 18 11. Sep 18 52,000 HK$2.49 HK$129,480
12. Sep 18 Buy Yuk-Lun Yim Individual 10. Sep 18 10. Sep 18 72,000 HK$2.48 HK$178,683
07. Sep 18 Buy Yuk-Lun Yim Individual 06. Sep 18 06. Sep 18 50,000 HK$2.51 HK$125,500
06. Sep 18 Buy Yuk-Lun Yim Individual 05. Sep 18 05. Sep 18 16,000 HK$2.50 HK$39,920
03. Sep 18 Buy Yuk-Lun Yim Individual 31. Aug 18 31. Aug 18 424,000 HK$2.50 HK$1,060,001
31. Aug 18 Buy Yuk-Lun Yim Individual 30. Aug 18 30. Aug 18 208,000 HK$2.55 HK$529,776
29. Aug 18 Buy Yuk-Lun Yim Individual 29. Aug 18 29. Aug 18 358,000 HK$2.56 HK$916,122
24. Jul 18 Buy Yuk-Lun Yim Individual 24. Jul 18 24. Jul 18 14,000 HK$2.59 HK$36,260
20. Jul 18 Buy Yuk-Lun Yim Individual 19. Jul 18 19. Jul 18 60,000 HK$2.55 HK$153,000
18. Jul 18 Buy Yuk-Lun Yim Individual 18. Jul 18 18. Jul 18 200,000 HK$2.53 HK$507,000
17. Jul 18 Buy Yuk-Lun Yim Individual 17. Jul 18 17. Jul 18 40,000 HK$2.51 HK$100,400
12. Jul 18 Buy Yuk-Lun Yim Individual 11. Jul 18 11. Jul 18 236,000 HK$2.51 HK$592,360
09. Jul 18 Buy Yuk-Lun Yim Individual 06. Jul 18 06. Jul 18 340,000 HK$2.50 HK$849,999
06. Jul 18 Buy Yuk-Lun Yim Individual 05. Jul 18 05. Jul 18 52,000 HK$2.53 HK$131,560
05. Jul 18 Buy Yuk-Lun Yim Individual 04. Jul 18 04. Jul 18 34,000 HK$2.54 HK$86,258
04. Jul 18 Buy Yuk-Lun Yim Individual 03. Jul 18 03. Jul 18 200,000 HK$2.55 HK$510,000
03. Jul 18 Buy Yuk-Lun Yim Individual 29. Jun 18 29. Jun 18 14,000 HK$2.59 HK$36,260
29. Jun 18 Buy Yuk-Lun Yim Individual 28. Jun 18 28. Jun 18 10,000 HK$2.55 HK$25,500
28. Jun 18 Buy Yuk-Lun Yim Individual 27. Jun 18 27. Jun 18 34,000 HK$2.55 HK$86,564
26. Jun 18 Buy Yuk-Lun Yim Individual 25. Jun 18 25. Jun 18 36,000 HK$2.62 HK$94,320
22. Jun 18 Buy Yuk-Lun Yim Individual 22. Jun 18 22. Jun 18 1,450,000 HK$2.59 HK$3,755,505
22. Jun 18 Buy Yuk-Lun Yim Individual 21. Jun 18 21. Jun 18 40,000 HK$2.56 HK$102,600
21. Jun 18 Buy Yuk-Lun Yim Individual 20. Jun 18 20. Jun 18 124,000 HK$2.57 HK$318,680
20. Jun 18 Buy Yuk-Lun Yim Individual 19. Jun 18 19. Jun 18 130,000 HK$2.62 HK$339,950
12. Jun 18 Buy Yuk-Lun Yim Individual 12. Jun 18 12. Jun 18 30,000 HK$2.71 HK$81,180
12. Jun 18 Buy Yuk-Lun Yim Individual 11. Jun 18 11. Jun 18 256,000 HK$2.67 HK$684,799
08. Jun 18 Buy Yuk-Lun Yim Individual 07. Jun 18 07. Jun 18 30,000 HK$2.60 HK$78,000
05. Jun 18 Buy Yuk-Lun Yim Individual 05. Jun 18 05. Jun 18 92,000 HK$2.80 HK$257,600
02. Jun 18 Buy Yuk-Lun Yim Individual 01. Jun 18 01. Jun 18 662,000 HK$2.82 HK$1,866,842
01. Jun 18 Buy Yuk-Lun Yim Individual 31. May 18 31. May 18 206,000 HK$2.73 HK$562,381
31. May 18 Buy Yuk-Lun Yim Individual 30. May 18 30. May 18 36,000 HK$2.68 HK$96,480
X
Management checks
We assess S.A.S. Dragon 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. S.A.S. Dragon 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.

1184 News

Simply Wall St News

What Type Of Shareholder Owns S.A.S. Dragon Holdings Limited's (HKG:1184)?

Dragon Holdings is a smaller company with a market capitalization of HK$1.6b, so it may still be flying under the radar of many institutional investors. … Dragon Holdings SEHK:1184 Ownership Summary, May 16th 2019 What Does The Lack Of Institutional Ownership Tell Us About S.A.S. … Insider ownership is positive when it signals leadership are thinking like the true owners of the company.

Simply Wall St -

Why We Like S.A.S. Dragon Holdings Limited’s (HKG:1184) 25% Return On Capital Employed

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Is S.A.S. Dragon Holdings Limited (HKG:1184) A Smart Choice For Dividend Investors?

Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … Dragon Holdings yielding 7.2% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. … When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable.

Simply Wall St -

Read This Before Selling S.A.S. Dragon Holdings Limited (HKG:1184) Shares

We often see insiders buying up shares in companies that perform well over the long term. … So we'll take a look at whether insiders have been buying or selling shares in S.A.S. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

S.A.S. Dragon Holdings (HKG:1184) Shareholders Received A Total Return Of 137% In The Last Three Years

Dragon Holdings Limited (HKG:1184), which is up 91%, over three years, soundly beating the market return of 26% (not including dividends). … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Dragon Holdings was able to grow its EPS at 57% per year over three years, sending the share price higher.

Simply Wall St -

Is S.A.S. Dragon Holdings Limited (HKG:1184) Excessively Paying Its CEO?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Stanley Yim's Compensation Compare With Similar Sized Companies. … Dragon Holdings Limited has a market cap of HK$1.6b, and is paying total annual CEO compensation of HK$15m.

Simply Wall St -

How Much Of S.A.S. Dragon Holdings Limited (HKG:1184) Do Insiders Own?

Dragon Holdings Limited (HKG:1184) should be aware of the most powerful shareholder groups. … Dragon Holdings is a small cap stock, so it might not be well known by many institutional investors. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

Why We Like S.A.S. Dragon Holdings Limited’s (HKG:1184) 31% Return On Capital Employed

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Does S.A.S. Dragon Holdings Limited's (HKG:1184) P/E Ratio Signal A Buying Opportunity?

Dragon Holdings Limited's (HKG:1184) P/E ratio to inform your assessment of the investment opportunity. … Dragon Holdings has a P/E ratio of 4.67, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Is SAS Dragon Holdings Limited (HKG:1184) An Attractive Dividend Stock?

Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. … Historically, SAS Dragon Holdings Limited (HKG:1184) has paid dividends to shareholders, and these days it yields 8.5%. … Dragon Holdings in more detail.

Simply Wall St -

1184 Company Info

Description

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 services specializing in design, development, sourcing, quality assurance, and logistics management of electronic components and semiconductors products, including chipset solutions, display panels, memory chips, LED lighting solutions, power supply system solutions, multimedia system solutions, PEMCO, IoT home automation solutions, and other premier solutions. Its solutions are used in mobile phone, consumer electronics, computer and networking, telecommunication, and LED lighting applications. In addition, the company is involved in the distribution of home appliances and business equipment, as well as provision of related ancillary services. The company markets its products under SHARP, Light in Motion, and LIM InfraSystems. It serves semiconductor suppliers and electronics manufacturing services providers, original equipment manufacturers, original design manufacturers, valued-added resellers, retailers, and end customers. The company has operations in the People’s Republic of China, Hong Kong, Mainland China, Taiwan, the United States, India, Singapore, Indonesia, the Republic of Korea, the Philippines, Macao, and internationally. S.A.S. Dragon Holdings Limited was founded in 1981 and is headquartered in Kwai Chung, Hong Kong.

Details
Name: S.A.S. Dragon Holdings Limited
1184
Exchange: SEHK
Founded: 1981
HK$1,420,650,988
625,837,440
Website: http://www.sasdragon.com.hk
Address: S.A.S. Dragon Holdings Limited
S.A.S. Tower,
19th Floor,
Kwai Chung,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1184 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 03. Jan 1995
Number of employees
Current staff
Staff numbers
650
S.A.S. Dragon Holdings employees.
Industry
Technology Distributors
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 12:34
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/04/11
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.