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1888

Kingboard Laminates HoldingsSEHK:1888 Stock Report

Market Cap

HK$41.0b

7D

-5.2%

1Y

24.4%

Updated

25 Sep, 2021

Data

Company Financials +
1888 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance5/6
Financial Health6/6
Dividends4/6

1888 Overview

Kingboard Laminates Holdings Limited, an investment holding company, operates as a vertically-integrated electronic materials manufacturer in the People's Republic of China, other Asian countries, Europe, and America.

Price History & Performance

Summary of all time highs, changes and price drops for Kingboard Laminates Holdings
Historical stock prices
Current Share PriceHK$13.14
52 Week HighHK$10.00
52 Week LowHK$19.76
Beta1.05
1 Month Change-11.81%
3 Month Change-27.16%
1 Year Change24.43%
3 Year Change89.34%
5 Year Change85.59%
Change since IPO47.14%

Recent News & Updates

Shareholder Returns

1888HK ElectronicHK Market
7D-5.2%-5.3%-2.4%
1Y24.4%38.1%9.1%

Return vs Industry: 1888 underperformed the Hong Kong Electronic industry which returned 38.1% over the past year.

Return vs Market: 1888 exceeded the Hong Kong Market which returned 9.1% over the past year.

Price Volatility

Is 1888's price volatile compared to industry and market?
1888 volatility
1888 Beta1.05
Industry Beta0.98
Market Beta1

Stable Share Price: 1888 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 1888's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19889,700Kwok Keung Cheunghttps://www.kblaminates.com

Kingboard Laminates Holdings Limited, an investment holding company, operates as a vertically-integrated electronic materials manufacturer in the People's Republic of China, other Asian countries, Europe, and America. The company manufactures and sells laminates, including glass epoxy laminates, paper laminates, and composite epoxy material laminates. It also provides upstream component materials, such as copper foils, glass yarn, glass fabrics, bleached Kraft paper, epoxy resin, Kraft paper for copper-clad laminates, and polyvinyl butyral products, as well as chemicals; and offers drilling services.

Kingboard Laminates Holdings Fundamentals Summary

How do Kingboard Laminates Holdings's earnings and revenue compare to its market cap?
1888 fundamental statistics
Market CapHK$41.00b
Earnings (TTM)HK$5.43b
Revenue (TTM)HK$24.41b

7.6x

P/E Ratio

1.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
1888 income statement (TTM)
RevenueHK$24.41b
Cost of RevenueHK$16.61b
Gross ProfitHK$7.80b
ExpensesHK$2.37b
EarningsHK$5.43b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.74
Gross Margin31.95%
Net Profit Margin22.23%
Debt/Equity Ratio28.5%

How did 1888 perform over the long term?

See historical performance and comparison

Dividends

6.1%

Current Dividend Yield

37%

Payout Ratio

Does 1888 pay a reliable dividends?

See 1888 dividend history and benchmarks
When do you need to buy 1888 by to receive an upcoming dividend?
Kingboard Laminates Holdings dividend dates
Ex Dividend DateDec 07 2021
Dividend Pay DateJan 06 2022
Days until Ex dividend72 days
Days until Dividend pay date102 days

Does 1888 pay a reliable dividends?

See 1888 dividend history and benchmarks

Valuation

Is Kingboard Laminates Holdings undervalued compared to its fair value and its price relative to the market?

1.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 1888 (HK$13.14) is trading below our estimate of fair value (HK$13.38)

Significantly Below Fair Value: 1888 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: 1888 is good value based on its PE Ratio (7.6x) compared to the Hong Kong Electronic industry average (8.7x).

PE vs Market: 1888 is good value based on its PE Ratio (7.6x) compared to the Hong Kong market (9.6x).


Price to Earnings Growth Ratio

PEG Ratio: 1888 is poor value based on its PEG Ratio (12.8x)


Price to Book Ratio

PB vs Industry: 1888 is overvalued based on its PB Ratio (2.5x) compared to the HK Electronic industry average (0.8x).


Future Growth

How is Kingboard Laminates Holdings forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

0.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1888's forecast earnings growth (0.6% per year) is below the savings rate (1.5%).

Earnings vs Market: 1888's earnings (0.6% per year) are forecast to grow slower than the Hong Kong market (17.1% per year).

High Growth Earnings: 1888's earnings are forecast to grow, but not significantly.

Revenue vs Market: 1888's revenue (9.6% per year) is forecast to grow slower than the Hong Kong market (12.3% per year).

High Growth Revenue: 1888's revenue (9.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1888's Return on Equity is forecast to be high in 3 years time (34.9%)


Past Performance

How has Kingboard Laminates Holdings performed over the past 5 years?

-3.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1888 has high quality earnings.

Growing Profit Margin: 1888's current net profit margins (22.2%) are higher than last year (11.7%).


Past Earnings Growth Analysis

Earnings Trend: 1888's earnings have declined by 3.7% per year over the past 5 years.

Accelerating Growth: 1888's earnings growth over the past year (164.3%) exceeds its 5-year average (-3.7% per year).

Earnings vs Industry: 1888 earnings growth over the past year (164.3%) exceeded the Electronic industry 50.5%.


Return on Equity

High ROE: 1888's Return on Equity (33.1%) is considered high.


Financial Health

How is Kingboard Laminates Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 1888's short term assets (HK$18.5B) exceed its short term liabilities (HK$10.2B).

Long Term Liabilities: 1888's short term assets (HK$18.5B) exceed its long term liabilities (HK$744.1M).


Debt to Equity History and Analysis

Debt Level: 1888's debt to equity ratio (28.5%) is considered satisfactory.

Reducing Debt: 1888's debt to equity ratio has reduced from 29.7% to 28.5% over the past 5 years.

Debt Coverage: 1888's debt is well covered by operating cash flow (72.4%).

Interest Coverage: 1888's interest payments on its debt are well covered by EBIT (183.2x coverage).


Balance Sheet


Dividend

What is Kingboard Laminates Holdings's current dividend yield, its reliability and sustainability?

6.09%

Current Dividend Yield


Upcoming Dividend Payment

TodaySep 25 2021Ex Dividend DateDec 07 2021Dividend Pay DateJan 06 202230 days from Ex DividendBuy in the next 72 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: 1888's dividend (6.09%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.28%).

High Dividend: 1888's dividend (6.09%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.83%).


Stability and Growth of Payments

Stable Dividend: 1888's dividend payments have been volatile in the past 10 years.

Growing Dividend: 1888's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (37.3%), 1888's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 1888's dividends in 3 years are forecast to be well covered by earnings (49.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

14.8yrs

Average board tenure


CEO

Kwok Keung Cheung (68 yo)

no data

Tenure

HK$18,015,000

Compensation

Mr. Kwok Keung Cheung has been the Managing Director of Kingboard Laminates Holdings Ltd. since July 20, 2006 and serves as its Chief Executive Officer. Mr. Cheung has over 13 years' experience in the lami...


CEO Compensation Analysis

Compensation vs Market: Kwok Keung's total compensation ($USD2.31M) is above average for companies of similar size in the Hong Kong market ($USD620.61K).

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


Board Members

Experienced Board: 1888's board of directors are seasoned and experienced ( 14.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Kingboard Laminates Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Kingboard Laminates Holdings Limited
  • Ticker: 1888
  • Exchange: SEHK
  • Founded: 1988
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: HK$40.997b
  • Shares outstanding: 3.12b
  • Website: https://www.kblaminates.com

Number of Employees


Location

  • Kingboard Laminates Holdings Limited
  • Delta House
  • 23rd Floor
  • Sha Tin
  • New Territories
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/25 10:03
End of Day Share Price2021/09/24 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.