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Trio Industrial Electronics Group

SEHK:1710
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1710
SEHK
HK$425M
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

Trio Industrial Electronics Group Limited, an investment holding company, operates as an electronic manufacturing service provider for industrial electronic components and products worldwide. The last earnings update was 30 days ago. More info.


Add to Portfolio Compare Print
  • Trio Industrial Electronics Group has significant price volatility in the past 3 months.
1710 Share Price and Events
7 Day Returns
-2.3%
SEHK:1710
-7.7%
HK Electronic
-2.2%
HK Market
1 Year Returns
-39.1%
SEHK:1710
-42%
HK Electronic
-15.4%
HK Market
1710 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Trio Industrial Electronics Group (1710) -2.3% -14.3% 9.1% -39.1% - -
HK Electronic -7.7% -20.1% -18.2% -42% 1.1% 18.2%
HK Market -2.2% -9.5% -6% -15.4% 22% 6.7%
1 Year Return vs Industry and Market
  • 1710 outperformed the Electronic industry which returned -42% over the past year.
  • 1710 underperformed the Market in Hong Kong which returned -15.4% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

1710 Value

 Is Trio Industrial Electronics 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 Trio Industrial Electronics 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 Trio Industrial Electronics Group.

SEHK:1710 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 9.6%
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:1710
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 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.045 (1 + (1- 25%) (19.99%))
1.135
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.135 * 6.65%)
9.55%

Discounted Cash Flow Calculation for SEHK:1710 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Trio Industrial Electronics 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:1710 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 9.55%)
2019 60.87 Est @ 4.47% 55.56
2020 63.14 Est @ 3.73% 52.61
2021 65.17 Est @ 3.21% 49.57
2022 67.03 Est @ 2.85% 46.53
2023 68.77 Est @ 2.6% 43.58
2024 70.43 Est @ 2.42% 40.74
2025 72.04 Est @ 2.29% 38.04
2026 73.63 Est @ 2.21% 35.49
2027 75.21 Est @ 2.15% 33.09
2028 76.79 Est @ 2.1% 30.84
Present value of next 10 years cash flows HK$426.05
SEHK:1710 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$76.79 × (1 + 2%) ÷ (9.55% – 2%)
HK$1,037.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$1,037.54 ÷ (1 + 9.55%)10
HK$416.65
SEHK:1710 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$426.05 + HK$416.65
HK$842.69
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$842.69 / 1,000.00
HK$0.84
SEHK:1710 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.84
Current discount Discount to share price of HK$0.42
= -1 x (HK$0.42 - HK$0.84) / HK$0.84
50.2%

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

Current Discount
Amount off the current price Trio Industrial Electronics Group is available for.
Intrinsic value
>50%
Share price is HK$0.42 vs Future cash flow value of HK$0.84269
Current Discount Checks
For Trio Industrial Electronics Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Trio Industrial Electronics Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Trio Industrial Electronics Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Trio Industrial Electronics Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Trio Industrial Electronics Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1710 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.04
SEHK:1710 Share Price ** SEHK (2019-05-23) in HKD HK$0.42
Hong Kong Electronic Industry PE Ratio Median Figure of 59 Publicly-Listed Electronic Companies 11.34x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 11.07x

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

** Primary Listing of Trio Industrial Electronics Group.

SEHK:1710 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1710 Share Price ÷ EPS (both in HKD)

= 0.42 ÷ 0.04

9.91x

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

  • Trio Industrial Electronics Group is good value based on earnings compared to the HK Electronic industry average.
  • Trio Industrial Electronics Group is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Trio Industrial Electronics Group's expected growth come at a high price?
Raw Data
SEHK:1710 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
1.6%per year
Hong Kong Electronic Industry PEG Ratio Median Figure of 13 Publicly-Listed Electronic Companies 0.47x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.79x

*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 Trio Industrial Electronics Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Trio Industrial Electronics Group's assets?
Raw Data
SEHK:1710 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$0.35
SEHK:1710 Share Price * SEHK (2019-05-23) in HKD HK$0.42
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 0.97x
SEHK:1710 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1710 Share Price ÷ Book Value per Share (both in HKD)

= 0.42 ÷ 0.35

1.19x

* Primary Listing of Trio Industrial Electronics Group.

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

  • Trio Industrial Electronics Group is overvalued based on assets compared to the HK Electronic industry average.
X
Value checks
We assess Trio Industrial Electronics Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
  5. Trio Industrial Electronics 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.

1710 Future Performance

 How is Trio Industrial Electronics Group expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Trio Industrial Electronics Group, 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
1.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Trio Industrial Electronics Group expected to grow at an attractive rate?
  • Trio Industrial Electronics Group's earnings growth is positive but not above the low risk savings rate of 2%.
Growth vs Market Checks
  • Trio Industrial Electronics Group's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare Trio Industrial Electronics Group's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1710 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1710 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 1.6%
Hong Kong Electronic Industry Earnings Growth Rate Market Cap Weighted Average 18.3%
Hong Kong Electronic Industry Revenue Growth Rate Market Cap Weighted Average 12.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*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:1710 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:1710 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:1710 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 886 67 42
2018-09-30 854 28 47
2018-06-30 822 -12 51
2018-03-31 805 22 61
2017-12-31 788 55 70
2016-12-31 745 60 75

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Trio Industrial Electronics Group's earnings are expected to grow by 1.6% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Trio Industrial Electronics Group is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:1710 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 Trio Industrial Electronics Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1710 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:1710 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.04
2018-09-30 0.05
2018-06-30 0.06
2018-03-31 0.07
2017-12-31 0.09
2016-12-31 0.10

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Trio Industrial Electronics Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Trio Industrial Electronics 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.
Trio Industrial Electronics 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.

1710 Past Performance

  How has Trio Industrial Electronics 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 Trio Industrial Electronics Group's growth in the last year to its industry (Electronic).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Trio Industrial Electronics Group's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Trio Industrial Electronics Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Trio Industrial Electronics Group's 1-year earnings growth is negative, it can't be compared to the HK Electronic industry average.
Earnings and Revenue History
Trio Industrial Electronics 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 Trio Industrial Electronics Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1710 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 885.97 42.38 154.79
2018-09-30 854.17 46.69 143.00
2018-06-30 822.38 51.01 131.20
2018-03-31 805.21 60.51 125.08
2017-12-31 788.04 70.01 118.95
2016-12-31 744.90 75.26 101.78
2015-12-31 657.61 29.76 104.13
2014-12-31 517.48 21.88 75.90

*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.
  • Trio Industrial Electronics Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Trio Industrial Electronics Group used its assets more efficiently than the HK Electronic industry average last year based on Return on Assets.
  • Trio Industrial Electronics Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Trio Industrial Electronics Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Trio Industrial Electronics Group has a total score of 2/6, 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.

1710 Health

 How is Trio Industrial Electronics 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 Trio Industrial Electronics Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Trio Industrial Electronics Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Trio Industrial Electronics Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Trio Industrial Electronics 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 6.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from Trio Industrial Electronics Group Company Filings, last reported 4 months ago.

SEHK:1710 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 351.90 84.98 194.58
2018-09-30 351.90 84.98 194.58
2018-06-30 324.79 94.27 171.72
2018-03-31 324.79 94.27 171.72
2017-12-31 332.56 67.33 161.63
2016-12-31 154.76 46.81 6.57
2015-12-31 124.93 59.74 2.22
2014-12-31 107.88 60.94 6.50
  • Trio Industrial Electronics Group's level of debt (24.1%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Trio Industrial Electronics Group's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (78.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.3x coverage).
X
Financial health checks
We assess Trio Industrial Electronics 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. Trio Industrial Electronics Group has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

1710 Dividends

 What is Trio Industrial Electronics 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
4.29%
Current annual income from Trio Industrial Electronics Group dividends.
If you bought HK$2,000 of Trio Industrial Electronics Group shares you are expected to receive HK$86 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?
  • Trio Industrial Electronics Group's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Trio Industrial Electronics Group's dividend is below the markets top 25% of dividend payers in Hong Kong (5.77%).
Upcoming dividend payment

Purchase Trio Industrial Electronics Group 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:1710 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 3.1%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 968 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:1710 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
SEHK:1710 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-23 0.018 3.887
2019-03-22 0.018 3.683
2018-04-24 0.020 5.263

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

  • It is too early to tell whether Trio Industrial Electronics Group has stable dividend payments.
  • Trio Industrial Electronics Group only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Trio Industrial Electronics Group'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 Trio Industrial Electronics 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 Trio Industrial Electronics Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Trio Industrial Electronics Group has a total score of 2/6, see the detailed checks below.


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

1710 Management

 What is the CEO of Trio Industrial Electronics 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
Leung Lam Tai
COMPENSATION HK$4,958,000
AGE 71
TENURE AS CEO 1 years
CEO Bio

Mr. Tai Leung Lam is Chief Executive Officer of Trio Industrial Electronics Group Ltd since May 25, 2018. He has been Executive Director of Trio Industrial Electronics Group Limited since April 15, 2016 and serves as its Director of Manufacturing. Mr. Tai is responsible for the management, strategic planning and development of manufacturing division at Trio Industrial Electronics. Mr. Tai has over 45 years of experience in the electronics industry and specialises in the establishment and management of production plants for electronics manufacturers. From October 1976 to 1983, Mr. Tai held various positions in Timco Manufacturing Co. Limited (Timco). Mr. Tai has been a Director of Trio Engineering since July 1990. Mr. Tai serves as a Director of each of Trio Industrial Electronics Group subsidiaries. Mr. Tai previously served as a Director of Trio Engineering from October 1985 to July 1987. He joined Group since October 1985. Mr. Tai served as a Director of P.S.I. (HK) Limited and Timco Manufacturing Co. Limited. Mr. Tai obtained a diploma in Wireless Mechanical Maintenance without Wireless Telegraph Communication in The World Electric Engineering College in March 1965. Mr. Tai attended short courses in Quality Assurance and Component Testing for Transistor Radio, as well as The Use of Radio and T.V. Servicing Equipment at the department of electrical engineering in Morrison Hill Technical Institute (now known as Hong Kong Institute of Vocational Education) during the session from 1970 to 1971 and during the session from 1971 to 1972, respectively.

CEO Compensation
  • Leung Lam's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Leung Lam's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Yiu Wah Lai

TITLE
Chairman
COMPENSATION
HK$4M
AGE
63

Leung Lam Tai

TITLE
CEO, Director of Manufacturing & Executive Director
COMPENSATION
HK$5M
AGE
71
TENURE
1 yrs

Joseph Mac Carthy

TITLE
Director of Marketing & Executive Director
COMPENSATION
HK$2M
AGE
52

Ruby Wan

TITLE
Company Secretary & Group Financial Controller
AGE
34
TENURE
1.3 yrs

Georges Gener

TITLE
Chairman of European Operations & Executive Director
AGE
69
Board of Directors Tenure

Average tenure and age of the Trio Industrial Electronics Group board of directors in years:

2.3
Average Tenure
64
Average Age
  • The average tenure for the Trio Industrial Electronics Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Yiu Wah Lai

TITLE
Chairman
COMPENSATION
HK$4M
AGE
63
TENURE
1 yrs

Leung Lam Tai

TITLE
CEO, Director of Manufacturing & Executive Director
COMPENSATION
HK$5M
AGE
71
TENURE
3.1 yrs

Joseph Mac Carthy

TITLE
Director of Marketing & Executive Director
COMPENSATION
HK$2M
AGE
52
TENURE
3.1 yrs

Georges Gener

TITLE
Chairman of European Operations & Executive Director
AGE
69
TENURE
0.5 yrs

Chun Chung Fung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$220K
AGE
75
TENURE
2.3 yrs

Kin Wing Cheung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$220K
AGE
64
TENURE
2.3 yrs

Raymond Wong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$220K
AGE
63
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
20. Jun 18 Buy RAYS Capital Partners Limited Company 19. Jun 18 19. Jun 18 3,852,000 HK$0.53 HK$2,052,743
X
Management checks
We assess Trio Industrial Electronics 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. Trio Industrial Electronics 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.

1710 News

Simply Wall St News

Read This Before Buying Trio Industrial Electronics Group Limited (HKG:1710) For Its Dividend

Recently, Trio Industrial Electronics Group Limited (HKG:1710) has started paying dividends to shareholders. … Does Trio Industrial Electronics Group tick all the boxes of a great dividend stock? … See our latest analysis for Trio Industrial Electronics Group

Simply Wall St -

Introducing Trio Industrial Electronics Group, The Stock That Slid 51% In The Last Year

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … This proportional reduction in earnings per share isn't far from the 51% decrease in the share price. … Instead, the change in the share price seems to reduction in earnings per share, alone.

Simply Wall St -

Can Trio Industrial Electronics Group Limited (HKG:1710) Maintain Its Strong Returns?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Trio Industrial Electronics Group Limited (HKG:1710). … Our data shows Trio Industrial Electronics Group has a return on equity of 16% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Does Trio Industrial Electronics Group Limited (HKG:1710) Have A Good P/E Ratio?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll show how you can use Trio Industrial Electronics Group Limited's (HKG:1710) P/E ratio to inform your assessment of the investment opportunity. … Trio Industrial Electronics Group has a price to earnings ratio of 4.87, based on the last twelve months.

Simply Wall St -

Is Trio Industrial Electronics Group Limited's (HKG:1710) Balance Sheet Strong Enough To Weather A Storm?

Investors are always looking for growth in small-cap stocks like Trio Industrial Electronics Group Limited (HKG:1710), with a market cap of HK$335m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

Is Trio Industrial Electronics Group Limited (HKG:1710) A Smart Pick For Income Investors?

Trio Industrial Electronics Group Limited (HKG:1710) has started paying a dividend to shareholders. … Does Trio Industrial Electronics Group tick all the boxes of a great dividend stock? … See our latest analysis for Trio Industrial Electronics Group

Simply Wall St -

Trio Industrial Electronics Group Limited (HKG:1710)'s Return on Capital

and want to begin learning the link between Trio Industrial Electronics Group Limited (HKG:1710)’s return fundamentals and stock market performance. … Trio Industrial Electronics Group stock represents an ownership share in the company. … Therefore, looking at how efficiently Trio Industrial Electronics Group is able to use capital to create earnings will help us understand your potential return.

Simply Wall St -

How Trio Industrial Electronics Group Limited's (HKG:1710) Earnings Growth Stacks Up Against The Industry

When Trio Industrial Electronics Group Limited (HKG:1710) announced its most recent earnings (31 December 2017), I did two things: looked at its past earnings track record, then look at what is happening in the industry. … Understanding how Trio Industrial Electronics Group performed requires a benchmark rather than trying to assess a standalone number at one point in time. … View our latest analysis for Trio Industrial Electronics Group?

Simply Wall St -

Is Trio Industrial Electronics Group Limited (HKG:1710) A Smart Choice For Dividend Investors?

Trio Industrial Electronics Group Limited (HKG:1710) has returned an average dividend yield of 4.00% annually to shareholders. … Let's take a look at Trio Industrial Electronics Group in more detail. … Check out our latest analysis for Trio Industrial Electronics Group

Simply Wall St -

Should Trio Industrial Electronics Group Limited (HKG:1710) Be Your Next Stock Pick?

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … is a company with great financial health as well as a. … If you're interested in understanding beyond my high-level commentary,

Simply Wall St -

1710 Company Info

Description

Trio Industrial Electronics Group Limited, an investment holding company, operates as an electronic manufacturing service provider for industrial electronic components and products worldwide. It provides electro-mechanical products; switch-mode power supplies; smart chargers; and industrial electronic equipment, such as renewable energy facilities, telecommunications equipment, commercial freight equipment, medical devices, and security systems. It offers coil box assemblies, electromagnetic interference filters, access control locks, and security control systems and keypads for renewable energy facilities, industrial pumps for air conditioners, and medical devices. The company also provides switch-mode power supplies, including various switch-mode AC/DC box-built and module-built units, power supply modules, and power supply board for use in medical devices, renewable energy facilities, telecommunications equipment, and commercial freight equipment. In addition, it provides battery chargers for use in commercial freight equipment, vehicles, and construction equipment; printed circuit board assemblies, power switch gear boards, and catering equipment control boards; and electro static discharge and automatic testers. The company was founded in 1983 and is headquartered in Hung Hom, Hong Kong.

Details
Name: Trio Industrial Electronics Group Limited
1710
Exchange: SEHK
Founded: 1983
HK$425,000,000
1,000,000,000
Website: http://www.trio-ieg.com
Address: Trio Industrial Electronics Group Limited
Kaiser Estate, Phase II,
5th Floor,
Hung Hom,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1710 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 23. Nov 2017
Number of employees
Current staff
Staff numbers
1,745
Trio Industrial Electronics Group employees.
Industry
Electronic Manufacturing Services
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 13:05
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2018/03/23
Last earnings filing: 2019/04/23
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.