HK Asia Holdings

SEHK:1723

Snowflake Description

Flawless balance sheet with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.

1723

SEHK

HK$1B

Market Cap

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Last updated 2019/05/22 13:07

Company description

HK Asia Holdings Limited, an investment holding company, engages in the wholesale and retail sale of the pre-paid products in Hong Kong. The last earnings update was 162 days ago. More info.

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1723 Share Price and Events

7 Day Returns

0.9%

SEHK:1723

-7.1%

HK Electronic

-1.6%

HK Market

1 Year Returns

SEHK:1723

-42.6%

HK Electronic

-16.6%

HK Market

1723 Shareholder Return

	7 Day	30 Day	90 Day	1 Year	3 Year	5 Year
HK Asia Holdings (1723)	0.9%	-9.5%	-18.7%	-	-	-
HK Electronic	-7.1%	-20.6%	-16.4%	-42.6%	1.8%	18.3%
HK Market	-1.6%	-9.5%	-5.2%	-16.6%	24.8%	7.3%

1 Year Return vs Industry and Market

No trading data on 1723.
No trading data on 1723.

Price Volatility

Industry

5yr Volatility vs Market

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Value

Is HK Asia 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

It is not possible to calculate the future cash flow value for HK Asia Holdings. This is due to cash flow or dividend data being unavailable. The share price is HK$3.53.

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 HK Asia Holdings's earnings, growth and assets is considered below, and whether this is a fair price.

Price based on past earnings

Are HK Asia Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?

Raw Data

SEHK:1723 PE (Price to Earnings) Ratio Data Sources
Data Point	Source	Value
Earnings Per Share *	Company Filings (2018-09-30) in HKD	HK$0.05
SEHK:1723 Share Price **	SEHK (2019-05-22) in HKD	HK$3.53
Hong Kong Electronic Industry PE Ratio	Median Figure of 59 Publicly-Listed Electronic Companies	11.05x
Hong Kong Market PE Ratio	Median Figure of 1,478 Publicly-Listed Companies	11.06x

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

** Primary Listing of HK Asia Holdings.

SEHK:1723 PE (Price to Earnings) Ratio Calculation
	Calculation	Outcome
PE Ratio	= SEHK:1723 Share Price ÷ EPS (both in HKD) = 3.53 ÷ 0.05	75.79x

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

HK Asia Holdings is overvalued based on earnings compared to the HK Electronic industry average.
HK Asia Holdings is overvalued based on earnings compared to the Hong Kong market.

Price based on expected Growth

Does HK Asia Holdings's expected growth come at a high price?

Raw Data

SEHK:1723 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point	Source	Value
PE Ratio	See PE Ratio Section	75.79x
Net Income Annual Growth Rate	See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts	5.7%per year
Hong Kong Electronic Industry PEG Ratio	Median Figure of 13 Publicly-Listed Electronic Companies	0.6x
Hong Kong Market PEG Ratio	Median Figure of 463 Publicly-Listed Companies	0.8x

*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 HK Asia Holdings, we can't assess if its growth is good value.

Price based on value of assets

What value do investors place on HK Asia Holdings's assets?

Raw Data

SEHK:1723 PB (Price to Book) Ratio Data Sources
Data Point	Source	Value
Book Value per Share	Company Filings (2018-09-30) in HKD	HK$0.34
SEHK:1723 Share Price *	SEHK (2019-05-22) in HKD	HK$3.53
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:1723 PB (Price to Book) Ratio Calculation
	Calculation	Outcome
PB Ratio	= SEHK:1723 Share Price ÷ Book Value per Share (both in HKD) = 3.53 ÷ 0.34	10.28x

* Primary Listing of HK Asia Holdings.

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

HK Asia Holdings is overvalued based on assets compared to the HK Electronic industry average.

Value checks

We assess HK Asia Holdings's value by looking at:

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. )
Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)

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

Future Performance

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

No analysts cover HK Asia 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!

5.7%

Expected annual growth in earnings.

Earnings growth vs Low Risk Savings

Is HK Asia Holdings expected to grow at an attractive rate?

HK Asia Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.

Growth vs Market Checks

HK Asia Holdings's earnings growth is expected to exceed the Hong Kong market average.
Unable to compare HK Asia Holdings's revenue growth to the Hong Kong market average as no estimate data is available.

Annual Growth Rates Comparison

Raw Data

SEHK:1723 Future Growth Rates Data Sources
Data Point	Source	Value (per year)
SEHK:1723 Future Earnings Growth Rate	Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts	5.7%
Hong Kong Electronic Industry Earnings Growth Rate	Market Cap Weighted Average	18.2%
Hong Kong Electronic Industry Revenue Growth Rate	Market Cap Weighted Average	12.7%
Hong Kong Market Earnings Growth Rate	Market Cap Weighted Average	-5.7%
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:1723 Analysts Growth Expectations Data Sources
Data Point	Source	Value
Past Financials	Company Filings (7 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:1723 Past Financials Data
Date (Data in HKD Millions)	Revenue	Cash Flow	Net Income *
2018-09-30	200	-24	15
2018-06-30	196	-3	17
2018-03-31	193	18	19
2017-12-31	192	20	20
2017-09-30	191	23	21
2017-06-30	192	20	23
2017-03-31	192	18	26
2016-03-31	200	22	22

*GAAP earnings excluding extraordinary items.

High Growth Checks

HK Asia Holdings's earnings are expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
Unable to determine if HK Asia 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:1723 Past and Future Earnings per Share
Data Point	Source	Value
Past Financials	Company Filings (7 months ago)	See Below
Future Estimates	Average of up to 0 Analyst Estimates (S&P Global)	See Below

All data from HK Asia Holdings Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1723 Past Financials Data
Date (Data in HKD Millions)	EPS *
2018-09-30	0.05
2018-06-30	0.05
2018-03-31	0.06
2017-12-31	0.06
2017-09-30	0.06
2017-06-30	0.07
2017-03-31	0.08
2016-03-31	0.07

*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 HK Asia Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Future performance checks

We assess HK Asia Holdings's future performance by looking at:

Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
Is the annual earnings growth rate expected to be above 20%? (1 check)
Is the annual revenue growth rate expected to be above 20%? (1 check)
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.
HK Asia Holdings has a total score of 2/6, 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.

Past Performance

How has HK Asia 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 HK Asia 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.

HK Asia Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
HK Asia Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
HK Asia Holdings's 1-year earnings growth is negative, it can't be compared to the HK Electronic industry average.

Earnings and Revenue History

HK Asia 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 HK Asia Holdings Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1723 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions)	Revenue	Net Income *	G+A Expenses
2018-09-30	199.56	14.81	40.70
2018-06-30	196.40	17.10	40.07
2018-03-31	193.24	19.39	39.44
2017-12-31	192.27	19.96	31.39
2017-09-30	191.29	20.52	28.69
2017-06-30	191.64	23.42	27.53
2017-03-31	191.98	26.31	26.38
2016-03-31	200.32	21.54	27.79
2015-03-31	196.62	23.99	26.36

*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.

HK Asia Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
HK Asia Holdings used its assets more efficiently than the HK Electronic industry average last year based on Return on Assets.
HK Asia Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).

Past performance checks

We assess HK Asia Holdings's performance over the past 5 years by checking for:

Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
HK Asia Holdings has a total score of 1/6, 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.

Health

How is HK Asia 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 HK Asia Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.

Net Worth

HK Asia Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
HK Asia Holdings has no long term commitments.

Balance sheet

This treemap shows a more detailed breakdown of HK Asia 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.
HK Asia Holdings has no debt, it does not need to be covered by short term assets.

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 HK Asia Holdings Company Filings, last reported 7 months ago.

SEHK:1723 Past Debt and Equity Data
Date (Data in HKD Millions)	Total Equity	Total Debt	Cash & Short Term Investments
2018-09-30	137.38	0.00	76.20
2018-06-30	137.38	0.00	76.20
2018-03-31	63.46	0.00	32.61
2017-12-31	63.46	0.00	32.61
2017-09-30	52.95	0.00	29.67
2017-06-30	52.95	0.00	29.67
2017-03-31	73.98	0.00	10.26
2016-03-31	47.69	18.87	8.94
2015-03-31	24.59	46.52	1.36

HK Asia Holdings has no debt.
HK Asia Holdings currently has no debt however we can't compare to 5 years ago as we have no data for that period.
HK Asia Holdings has no debt, it does not need to be covered by operating cash flow.
HK Asia Holdings has no debt, therefore coverage of interest payments is not a concern.

Show me more healthy companies in the Electronic industry

Financial health checks

We assess HK Asia Holdings's financial health by checking for:

Are short term assets greater than short term liabilities? (1 check)
Are short term assets greater than long term liabilities? (1 check)
Has the debt to equity ratio increased in the past 5 years? (1 check)
Is the debt to equity ratio over 40%? (1 check)
Is the debt covered by operating cash flow? (1 check)
Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)

For companies that are loss making and have been so on average in the past we replace the last 2 checks with:

Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
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.

Dividends

What is HK Asia 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

Current annual income from HK Asia Holdings dividends.

If you bought HK$2,000 of HK Asia Holdings 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 HK Asia Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
Unable to evaluate HK Asia Holdings'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:1723 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.

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

Unable to perform a dividend volatility check as HK Asia Holdings has not reported any payouts.
Unable to verify if HK Asia Holdings's dividend has been increasing as the company has not reported any payouts.

Current Payout to shareholders

What portion of HK Asia Holdings's earnings are paid to the shareholders as a dividend.

Unable to calculate sustainability of dividends as HK Asia Holdings has not reported any payouts.

Future Payout to shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.

Income/ dividend checks

We assess HK Asia Holdings's dividend by checking for:

Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
Is current dividend yield above the bottom 25% of dividend payers? (1 check)
Is current dividend yield above the top 25% of dividend payers? (1 check)
Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
If they have paid a dividend for 10 years has it increased in this time? (1 check)
How sustainable is the dividend, can HK Asia Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)

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

Management

What is the CEO of HK Asia 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.

HK Asia Holdings has no CEO, or we have no data on them.

Management Team Tenure

Average tenure and age of the HK Asia Holdings management team in years:

1.8

Average Tenure

Average Age

The average tenure for the HK Asia Holdings management team is less than 2 years, this suggests a new team.

57.5

Average Age

The average tenure for the HK Asia Holdings board of directors is less than 3 years, this suggests a new board.

Board of Directors

Chi Chung

TITLE

GM & Executive Director

AGE

42

TENURE

1.8 yrs

Herod Shiao

TITLE

Independent Non-Executive Director

AGE

53

TENURE

Recent Insider Trading

HK Asia Holdings insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Announced	Type	Name	Entity	Role		Start	End	Shares	Max Price (HK$)	Value (HK$)
16. Apr 19	Sell	Muk Lung Siu	Individual			12. Apr 19	12. Apr 19	-16,000,000	HK$3.05	HK$-48,800,036

Management checks

We assess HK Asia Holdings's management by checking for:

Is the CEO's compensation unreasonable compared to market cap? (1 check)
Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
Is the average tenure of the management team less than 2 years? (1 check)
Is the average tenure of the board of directors team less than 3 years? (1 check)

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.

News

Simply Wall St News

Have Insiders Been Selling HK Asia Holdings Limited (HKG:1723) Shares?

We often see insiders buying up shares in companies that perform well over the long term. … So shareholders might well want to know whether insiders have been buying or selling shares in HK Asia Holdings Limited (HKG:1723). … 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 - 3 weeks ago – Full article

Does HK Asia Holdings Limited (HKG:1723) Create Value For Shareholders?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of HK Asia Holdings Limited (HKG:1723). … One way to conceptualize this, is that for each HK$1 of shareholders' equity it has, the company made HK$0.11 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St - 2 months ago – Full article

Do Institutions Own HK Asia Holdings Limited (HKG:1723) Shares?

The big shareholder groups in HK Asia Holdings Limited (HKG:1723) have power over the company. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … With a market capitalization of HK$1.7b, HK Asia Holdings is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St - 3 months ago – Full article

Is HK Asia Holdings Limited (HKG:1723) A Financially Sound Company?

HK Asia Holdings Limited (HKG:1723), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … Is 1723 growing fast enough to value financial flexibility over lower cost of capital. … Debt capital generally has lower cost of capital compared to equity funding

Simply Wall St - 4 months ago – Full article

How Good Is HK Asia Holdings Limited (HKG:1723), When It Comes To ROE?

Our data shows HK Asia Holdings has a return on equity of 11% for the last year. … That means that for every HK$1 worth of shareholders' equity, it generated HK$0.11 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St - 5 months ago – Full article

Company Info

Description

HK Asia Holdings Limited, an investment holding company, engages in the wholesale and retail sale of the pre-paid products in Hong Kong. It offers SIM cards and top-up vouchers that enable users to make local and international phone calls, as well as access mobile data services. The Company was founded in 1995 and is headquartered in Sheung Wan, Hong Kong.

Details

Name:	HK Asia Holdings Limited
Ticker:	1723
Exchange:	SEHK
Founded:	1995
Market Cap:	HK$1,344,000,000
Shares outstanding:	400,000,000
Website:	http://
Address:	HK Asia Holdings Limited Chun Wo Commercial Centre, 24th Floor, Sheung Wan, Hong Kong

Listings

	Exchange Symbol	Ticker Symbol	Security	Exchange	Country	Currency	Listed on
	SEHK	1723	Ordinary Shares	The Stock Exchange of Hong Kong Ltd.	HK	HKD	27. Sep 2018

Number of employees

Current staff

HK Asia Holdings employees.

Industry

Industry:	Technology Distributors
Sector:	Tech

Company Analysis and Financial Data Status

Area	Date (UTC time)
Company Analysis updated:	2019/05/22 13:07
End of day share price update:	2019/05/22 00:00
Last earnings filing:	2018/12/11
Last earnings reported:	2018/09/30
Last annual earnings reported:	2018/03/31

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.

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