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PC Partner Group

SEHK:1263
Snowflake Description

Good value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1263
SEHK
HK$685M
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

PC Partner Group Limited, an investment holding company, designs, develops, manufactures, and sells computer electronics. The last earnings update was 43 days ago. More info.


Add to Portfolio Compare Print
  • PC Partner Group has significant price volatility in the past 3 months.
1263 Share Price and Events
7 Day Returns
-7.1%
SEHK:1263
-6%
HK Tech
-4.1%
HK Market
1 Year Returns
-72.1%
SEHK:1263
-19.2%
HK Tech
-17.2%
HK Market
1263 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PC Partner Group (1263) -7.1% -17.1% -43.4% -72.1% 148.6% 47.2%
HK Tech -6% -19.1% -16.9% -19.2% -8.8% -42.9%
HK Market -4.1% -10.7% -8.4% -17.2% 20% 5.5%
1 Year Return vs Industry and Market
  • 1263 underperformed the Tech industry which returned -19.2% over the past year.
  • 1263 underperformed the Market in Hong Kong which returned -17.2% over the past year.
Price Volatility
1263
Industry
5yr Volatility vs Market

1263 Value

 Is PC Partner 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 PC Partner 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 PC Partner Group.

SEHK:1263 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) 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:1263
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Tech Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.031 (1 + (1- 25%) (249.72%))
2.315
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:1263 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PC Partner Group 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:1263 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 15.3%)
2019 608.00 Analyst x1 527.31
2020 480.00 Analyst x1 361.04
2021 79.00 Analyst x1 51.54
2022 0.08 Est @ -99.9% 0.05
2023 0.03 Est @ -69.33% 0.01
2024 0.01 Est @ -47.93% 0.01
2025 0.01 Est @ -32.95% 0.00
2026 0.01 Est @ -22.46% 0.00
2027 0.01 Est @ -15.12% 0.00
2028 0.01 Est @ -9.99% 0.00
Present value of next 10 years cash flows HK$939.96
SEHK:1263 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$0.01 × (1 + 2%) ÷ (15.3% – 2%)
HK$0.04
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$0.04 ÷ (1 + 15.3%)10
HK$0.01
SEHK:1263 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$939.96 + HK$0.01
HK$939.97
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$939.97 / 372.09
HK$2.53
SEHK:1263 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$2.53
Current discount Discount to share price of HK$1.84
= -1 x (HK$1.84 - HK$2.53) / HK$2.53
27.2%

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

Current Discount
Amount off the current price PC Partner Group is available for.
Intrinsic value
27%
Share price is HK$1.84 vs Future cash flow value of HK$2.53
Current Discount Checks
For PC Partner Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PC Partner Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PC Partner Group's share price is below the future cash flow value, but not 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 PC Partner Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PC Partner Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1263 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.66
SEHK:1263 Share Price ** SEHK (2019-05-24) in HKD HK$1.84
Hong Kong Tech Industry PE Ratio Median Figure of 12 Publicly-Listed Tech Companies 11.68x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 10.96x

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

** Primary Listing of PC Partner Group.

SEHK:1263 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1263 Share Price ÷ EPS (both in HKD)

= 1.84 ÷ 0.66

2.78x

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

  • PC Partner Group is good value based on earnings compared to the HK Tech industry average.
  • PC Partner Group is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does PC Partner Group's expected growth come at a high price?
Raw Data
SEHK:1263 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-18.6%per year
Hong Kong Tech Industry PEG Ratio Median Figure of 5 Publicly-Listed Tech Companies 0.46x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.77x

*Line of best fit is calculated by linear regression .

SEHK:1263 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 2.78x ÷ -18.6%

-0.15x

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

  • PC Partner Group earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PC Partner Group's assets?
Raw Data
SEHK:1263 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$2.36
SEHK:1263 Share Price * SEHK (2019-05-24) in HKD HK$1.84
Hong Kong Tech Industry PB Ratio Median Figure of 21 Publicly-Listed Tech Companies 0.87x
Hong Kong Market PB Ratio Median Figure of 2,157 Publicly-Listed Companies 0.94x
SEHK:1263 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1263 Share Price ÷ Book Value per Share (both in HKD)

= 1.84 ÷ 2.36

0.78x

* Primary Listing of PC Partner Group.

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

  • PC Partner Group is good value based on assets compared to the HK Tech industry average.
X
Value checks
We assess PC Partner 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 Tech 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 Tech industry average (and greater than 0)? (1 check)
  5. PC Partner Group has a total score of 4/6, 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.

1263 Future Performance

 How is PC Partner Group expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-18.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PC Partner Group expected to grow at an attractive rate?
  • PC Partner Group'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
  • PC Partner Group's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • PC Partner Group's revenues are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1263 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1263 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -18.6%
SEHK:1263 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -3%
Hong Kong Tech Industry Earnings Growth Rate Market Cap Weighted Average 20.4%
Hong Kong Tech Industry Revenue Growth Rate Market Cap Weighted Average 14.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.6%
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:1263 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1263 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 8,226 74 177 1
2020-12-31 8,708 488 157 2
2019-12-31 8,743 619 123 2
SEHK:1263 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 9,122 -613 271
2018-09-30 10,122 -132 450
2018-06-30 11,122 348 629
2018-03-31 9,839 552 480
2017-12-31 8,555 756 332
2017-09-30 7,433 531 245
2017-06-30 6,311 306 157
2017-03-31 6,075 163 154
2016-12-31 5,838 20 150
2016-09-30 5,508 108 98
2016-06-30 5,177 197 46
2016-03-31 4,966 175 14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PC Partner Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • PC Partner Group's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:1263 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 2 Analyst Estimates (S&P Global) See Below

All data from PC Partner Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1263 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.48 0.48 0.48 1.00
2020-12-31 0.42 0.42 0.42 1.00
2019-12-31 0.33 0.33 0.33 1.00
SEHK:1263 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.66
2018-09-30 1.05
2018-06-30 1.42
2018-03-31 1.09
2017-12-31 0.76
2017-09-30 0.57
2017-06-30 0.37
2017-03-31 0.36
2016-12-31 0.36
2016-09-30 0.23
2016-06-30 0.11
2016-03-31 0.03

*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.
  • PC Partner Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PC Partner 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.
PC Partner 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.

1263 Past Performance

  How has PC Partner 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 PC Partner Group's growth in the last year to its industry (Tech).
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.
  • PC Partner Group has delivered over 20% year on year earnings growth in the past 5 years.
  • PC Partner Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • PC Partner Group's 1-year earnings growth is negative, it can't be compared to the HK Tech industry average.
Earnings and Revenue History
PC Partner 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 PC Partner Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1263 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 9,122.32 270.84 578.10
2018-09-30 10,122.15 449.73 610.68
2018-06-30 11,121.98 628.61 650.80
2018-03-31 9,838.68 480.45 597.92
2017-12-31 8,555.37 332.29 537.51
2017-09-30 7,433.30 244.84 476.16
2017-06-30 6,311.23 157.39 414.82
2017-03-31 6,074.60 153.79 408.79
2016-12-31 5,837.96 150.19 402.75
2016-09-30 5,507.50 98.12 394.31
2016-06-30 5,177.04 46.04 385.87
2016-03-31 4,965.59 13.79 388.36
2015-12-31 4,754.15 -18.46 390.86
2015-09-30 4,660.63 -0.33 394.02
2015-06-30 4,567.11 17.80 397.18
2015-03-31 4,731.15 34.57 396.18
2014-12-31 4,895.19 51.35 395.18
2014-09-30 4,911.56 50.53 396.83
2014-06-30 4,927.93 49.71 398.48
2014-03-31 4,865.51 61.43 395.17
2013-12-31 4,803.10 73.15 391.86
2013-09-30 4,828.90 65.94 392.63
2013-06-30 4,854.70 58.73 393.39
2013-03-31 5,015.19 55.49 395.57
2012-12-31 5,175.67 52.25 397.75
2012-09-30 5,419.44 54.91 391.44
2012-06-30 5,663.21 57.57 385.14

*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 PC Partner Group 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.
  • PC Partner Group used its assets more efficiently than the HK Tech industry average last year based on Return on Assets.
  • PC Partner Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PC Partner 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 Tech 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.
PC Partner Group has a total score of 3/6, 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.

1263 Health

 How is PC Partner 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 PC Partner Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PC Partner Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PC Partner Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of PC Partner 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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from PC Partner Group Company Filings, last reported 4 months ago.

SEHK:1263 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 877.32 1,709.71 835.11
2018-09-30 877.32 1,709.71 835.11
2018-06-30 1,422.52 2,019.71 1,315.31
2018-03-31 1,422.52 2,019.71 1,315.31
2017-12-31 1,208.04 1,351.04 1,478.53
2017-09-30 1,208.04 1,351.04 1,478.53
2017-06-30 926.15 1,124.07 997.44
2017-03-31 926.15 1,124.07 997.44
2016-12-31 933.19 987.61 805.39
2016-09-30 933.19 987.61 805.39
2016-06-30 814.44 642.55 749.78
2016-03-31 814.44 642.55 749.78
2015-12-31 777.54 800.47 802.93
2015-09-30 777.54 800.47 802.93
2015-06-30 768.57 527.56 628.28
2015-03-31 768.57 527.56 628.28
2014-12-31 815.82 703.90 724.81
2014-09-30 815.82 703.90 724.81
2014-06-30 771.23 807.97 657.32
2014-03-31 771.23 807.97 657.32
2013-12-31 781.64 823.15 720.25
2013-09-30 781.64 823.15 720.25
2013-06-30 746.37 715.52 602.80
2013-03-31 746.37 715.52 602.80
2012-12-31 728.01 821.60 616.72
2012-09-30 728.01 821.60 616.72
2012-06-30 700.11 625.64 543.77
  • PC Partner Group's level of debt (194.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (105.3% vs 194.9% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 8.3x coverage).
X
Financial health checks
We assess PC Partner 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. PC Partner Group has a total score of 3/6, 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.

1263 Dividends

 What is PC Partner 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 PC Partner Group dividends. Estimated to be 6.7% next year.
If you bought HK$2,000 of PC Partner 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 PC Partner Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate PC Partner 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:1263 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 2 Analyst Estimates (S&P Global) See Below
Hong Kong Tech Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.4%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 967 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:1263 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.14 1.00
2020-12-31 0.13 1.00
2019-12-31 0.10 1.00
SEHK:1263 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-03-22 0.000 0.000
2018-03-28 0.320 8.465
2017-08-28 0.148 3.624
2017-05-25 0.143 7.250
2016-09-23 0.070 3.727
2016-08-25 0.070 6.106
2016-04-22 0.000 0.000
2016-03-30 0.000 0.000
2015-04-24 0.045 5.963
2015-03-23 0.045 4.112
2014-09-11 0.000 0.000
2014-08-29 0.000 0.000
2014-04-25 0.065 5.709
2014-03-31 0.065 5.382
2013-04-26 0.060 6.053
2013-03-25 0.060 6.358
2012-08-30 0.040 3.866
2012-03-26 0.080 6.433

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

  • Unable to perform a dividend volatility check as PC Partner Group has not reported any payouts.
  • Unable to verify if PC Partner Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of PC Partner Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as PC Partner Group has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess PC Partner 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 PC Partner Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PC Partner Group has a total score of 1/6, see the detailed checks below.


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

1263 Management

 What is the CEO of PC Partner 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
Tony Wong
COMPENSATION HK$18,632,000
AGE 58
TENURE AS CEO 8.3 years
CEO Bio

Mr. Shik Ho Wong, also known as Tony, Co-Founded PC Partner Group Limited in May 1997 and serves as its Chairman. Mr. Wong has been the Chief Executive Officer and Executive Director at PC Partner Group Limited. since 24 January 2011 and a member of its board since April 1, 2010 . Mr. Wong is responsible for the overall strategic management and corporate development of the Group. He directly oversees PC Partner Group Limited's finance and administration functions as well as the sales and marketing functions of the Group’s video graphics cards, motherboards businesses. Prior to co-founding the Group in 1997, he worked as a General Manager at VTech Computers Limited. Mr. Wong was conferred a Bachelor of Science degree in Electronics & Electrical Engineering by the University of Swansea in 1982, South Wales, the UK.

CEO Compensation
  • Tony's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Tony's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the PC Partner Group management team in years:

22
Average Tenure
58
Average Age
  • The average tenure for the PC Partner Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tony Wong

TITLE
Co-Founder
COMPENSATION
HK$19M
AGE
58
TENURE
8.3 yrs

Fong Wong

TITLE
Co-Founder
COMPENSATION
HK$8M
AGE
68
TENURE
22 yrs

Wah Leung

TITLE
Co-Founder
COMPENSATION
HK$13M
AGE
59
TENURE
22 yrs

Nai Ho

TITLE
Executive Director
COMPENSATION
HK$7M
AGE
62

Wai Man

TITLE
Executive Director
COMPENSATION
HK$5M
AGE
52

Gary Lau

TITLE
Chief Financial Officer
AGE
48

Hsiao Chuang

TITLE
Global Marketing Director
AGE
39

Sau Fong Leung

TITLE
Company Secretary
Board of Directors Tenure

Average tenure and age of the PC Partner Group board of directors in years:

8.3
Average Tenure
62.5
Average Age
  • The tenure for the PC Partner Group board of directors is about average.
Board of Directors

Tony Wong

TITLE
Co-Founder
COMPENSATION
HK$19M
AGE
58

Fong Wong

TITLE
Co-Founder
COMPENSATION
HK$8M
AGE
68
TENURE
9.1 yrs

Wah Leung

TITLE
Co-Founder
COMPENSATION
HK$13M
AGE
59
TENURE
9.1 yrs

Nai Ho

TITLE
Executive Director
COMPENSATION
HK$7M
AGE
62
TENURE
8.3 yrs

Wai Man

TITLE
Executive Director
COMPENSATION
HK$5M
AGE
52
TENURE
8.3 yrs

Shing Hing Ip

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
63
TENURE
8.3 yrs

Jerome Lai

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
69
TENURE
8.3 yrs

Mary Ho

TITLE
Non-Executive Director
COMPENSATION
HK$60K
AGE
68
TENURE
8.3 yrs

Ying Cheung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
64
TENURE
8.3 yrs

Wing Chiu

TITLE
Alternate Director
COMPENSATION
HK$60K
AGE
53
TENURE
6.5 yrs
Who owns this company?
Recent Insider Trading
  • PC Partner Group insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
07. May 19 Sell Wai Man Individual 06. May 19 06. May 19 -200,000 HK$1.99 HK$-397,999
22. Jan 19 Sell Fong Wong Individual 18. Jan 19 18. Jan 19 -1,000,000 HK$2.52 HK$-2,519,996
29. Aug 18 Sell Wai Man Individual 28. Aug 18 28. Aug 18 -120,000 HK$6.12 HK$-734,100
29. Aug 18 Sell Nai Ho Individual 28. Aug 18 28. Aug 18 -180,000 HK$6.24 HK$-1,123,200
29. Aug 18 Sell Wai Man Individual 27. Aug 18 27. Aug 18 -450,000 HK$6.21 HK$-2,793,151
29. Aug 18 Sell Fong Wong Individual 27. Aug 18 27. Aug 18 -500,000 HK$6.16 HK$-3,079,999
24. Jul 18 Sell Fong Wong Individual 20. Jul 18 20. Jul 18 -126,000 HK$7.28 HK$-917,784
19. Jul 18 Sell Nai Ho Individual 18. Jul 18 18. Jul 18 -142,000 HK$7.09 HK$-1,006,070
X
Management checks
We assess PC Partner 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. PC Partner 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.

1263 News

Simply Wall St News

Here's How P/E Ratios Can Help Us Understand PC Partner Group Limited (HKG:1263)

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … Based on the last twelve months, PC Partner Group's P/E ratio is 3.19. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Is PC Partner Group Limited's (HKG:1263) ROE Of 31% Impressive?

Our data shows PC Partner Group has a return on equity of 31% for the last year. … One way to conceptualize this, is that for each HK$1 of shareholders' equity it has, the company made HK$0.31 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is PC Partner Group Limited's (HKG:1263) CEO Being Overpaid?

Tony Wong has been the CEO of PC Partner Group Limited (HKG:1263) since 2011. … Our data indicates that PC Partner Group Limited is worth HK$982m, and total annual CEO compensation is HK$19m. … We took a group of companies with market capitalizations below HK$1.6b, and calculated the median CEO total compensation to be HK$1.5m.

Simply Wall St -

Should You Think About Buying PC Partner Group Limited (HKG:1263) Now?

PC Partner Group Limited (HKG:1263), which is in the tech business, and is based in Hong Kong,. … As a small cap stock, hardly covered by any analysts, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value? … Let’s take a look at PC Partner Group’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

PC Partner Group Limited (HKG:1263) Insiders Have Been Selling

So we'll take a look at whether insiders have been buying or selling shares in PC Partner Group Limited (HKG:1263). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'.

Simply Wall St -

If You Had Bought PC Partner Group Stock Three Years Ago, You Could Pocket A 422% Gain Today

For example, the PC Partner Group Limited (HKG:1263) share price is up a whopping 422% in the last three years, a handsome return for long term holders. … 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). … PC Partner Group was able to grow its EPS at 221% per year over three years, sending the share price higher.

Simply Wall St -

Should You Consider PC Partner Group Limited (HKG:1263)?

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on PC Partner Group Limited (HKG:1263) due to its excellent fundamentals in more than one area.

Simply Wall St -

PC Partner Group Limited (HKG:1263) Earns A Nice 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? … The formula for calculating the return on capital employed is:

Simply Wall St -

What You Must Know About PC Partner Group Limited's (HKG:1263) Beta Value

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

A Closer Look At PC Partner Group Limited's (HKG:1263) Impressive ROE

We'll use ROE to examine PC Partner Group Limited (HKG:1263), by way of a worked example. … One way to conceptualize this, is that for each HK$1 of shareholders' equity it has, the company made HK$0.44 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

1263 Company Info

Description

PC Partner Group Limited, an investment holding company, designs, develops, manufactures, and sells computer electronics. The company offers video graphics cards for desktop PCs; and computer related products, such as motherboards, mini-PCs, and other computer related products. It also trades in computer parts and accessories, and computers; and provides technical support services. In addition, the company offers electronics manufacturing services to the providers of point-of-sales and automatic teller machine systems, storage devices, fitness wearable devices, etc. The company markets its products under the ZOTAC, Inno3D, and Manli brand names in the Asia Pacific, North and Latin America, the People’s Republic of China, Europe, the Middle East, Africa, and India. PC Partner Group Limited was founded in 1997 and is headquartered in Shatin, Hong Kong.

Details
Name: PC Partner Group Limited
1263
Exchange: SEHK
Founded: 1997
HK$684,652,349
372,093,668
Website: http://www.pcpartner.com
Address: PC Partner Group Limited
Shatin Galleria,
19th Floor,
Shatin,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1263 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 12. Jan 2012
BST P2G Ordinary Shares Boerse-Stuttgart DE EUR 12. Jan 2012
Number of employees
Current staff
Staff numbers
3,513
PC Partner Group employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 12:58
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/04/15
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.