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Smart-Core Holdings

SEHK:2166
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2166
SEHK
HK$872M
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

Smart-Core Holdings Limited, an investment holding company, engages in the trading of integrated circuits and other electronic components in the People’s Republic of China. The last earnings update was 25 days ago. More info.


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2166 Share Price and Events
7 Day Returns
-1.7%
SEHK:2166
-7.4%
HK Electronic
-2.5%
HK Market
1 Year Returns
12.4%
SEHK:2166
-40.2%
HK Electronic
-15.9%
HK Market
2166 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Smart-Core Holdings (2166) -1.7% -2.3% -7.5% 12.4% - -
HK Electronic -7.4% -18.5% -13.1% -40.2% 4.1% 20.9%
HK Market -2.5% -8.6% -3.6% -15.9% 25.4% 7.8%
1 Year Return vs Industry and Market
  • 2166 outperformed the Electronic industry which returned -40.2% over the past year.
  • 2166 outperformed the Market in Hong Kong which returned -15.9% over the past year.
Price Volatility
2166
Industry
5yr Volatility vs Market

2166 Value

 Is Smart-Core Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Smart-Core Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Smart-Core Holdings.

SEHK:2166 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 9.1%
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:2166
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))
= 1.046 (1 + (1- 25%) (6.79%))
1.066
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.066 * 6.65%)
9.09%

Discounted Cash Flow Calculation for SEHK:2166 using 2 Stage Free Cash Flow to Equity Model

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

SEHK:2166 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 9.09%)
2019 22.42 Est @ -68.07% 20.55
2020 11.87 Est @ -47.04% 9.97
2021 8.03 Est @ -32.33% 6.19
2022 6.26 Est @ -22.03% 4.42
2023 5.33 Est @ -14.82% 3.45
2024 4.81 Est @ -9.77% 2.86
2025 4.51 Est @ -6.24% 2.45
2026 4.34 Est @ -3.77% 2.16
2027 4.25 Est @ -2.04% 1.94
2028 4.22 Est @ -0.82% 1.77
Present value of next 10 years cash flows HK$55.77
SEHK:2166 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$4.22 × (1 + 2%) ÷ (9.09% – 2%)
HK$60.69
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$60.69 ÷ (1 + 9.09%)10
HK$25.42
SEHK:2166 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$55.77 + HK$25.42
HK$81.18
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$81.18 / 504.11
HK$0.16
SEHK:2166 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.16
Current discount Discount to share price of HK$1.72
= -1 x (HK$1.72 - HK$0.16) / HK$0.16
-968.1%

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

  • The current share price of Smart-Core Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Smart-Core Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Smart-Core Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2166 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.16
SEHK:2166 Share Price ** SEHK (2019-05-20) in HKD HK$1.72
Hong Kong Electronic Industry PE Ratio Median Figure of 59 Publicly-Listed Electronic Companies 11.11x
Hong Kong Market PE Ratio Median Figure of 1,476 Publicly-Listed Companies 11.17x

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

** Primary Listing of Smart-Core Holdings.

SEHK:2166 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2166 Share Price ÷ EPS (both in HKD)

= 1.72 ÷ 0.16

10.66x

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

  • Smart-Core Holdings is good value based on earnings compared to the HK Electronic industry average.
  • Smart-Core Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Smart-Core Holdings's expected growth come at a high price?
Raw Data
SEHK:2166 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
0.5%per year
Hong Kong Electronic Industry PEG Ratio Median Figure of 13 Publicly-Listed Electronic Companies 0.64x
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 Smart-Core Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Smart-Core Holdings's assets?
Raw Data
SEHK:2166 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$1.13
SEHK:2166 Share Price * SEHK (2019-05-20) in HKD HK$1.72
Hong Kong Electronic Industry PB Ratio Median Figure of 83 Publicly-Listed Electronic Companies 1.19x
Hong Kong Market PB Ratio Median Figure of 2,155 Publicly-Listed Companies 0.97x
SEHK:2166 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2166 Share Price ÷ Book Value per Share (both in HKD)

= 1.72 ÷ 1.13

1.53x

* Primary Listing of Smart-Core Holdings.

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

  • Smart-Core Holdings is overvalued based on assets compared to the HK Electronic industry average.
X
Value checks
We assess Smart-Core Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
  5. Smart-Core Holdings has a total score of 2/6, 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.

2166 Future Performance

 How is Smart-Core Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Smart-Core Holdings, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
0.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Smart-Core Holdings expected to grow at an attractive rate?
  • Smart-Core Holdings's earnings growth is positive but not above the low risk savings rate of 2%.
Growth vs Market Checks
  • Smart-Core Holdings's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare Smart-Core Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:2166 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2166 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 0.5%
Hong Kong Electronic Industry Earnings Growth Rate Market Cap Weighted Average 18.4%
Hong Kong Electronic Industry Revenue Growth Rate Market Cap Weighted Average 12.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.7%

*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:2166 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:2166 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 4,936 72 80
2018-09-30 4,854 28 76
2018-06-30 4,801 -17 73
2018-03-31 4,809 2 75
2017-12-31 4,785 21 78
2017-09-30 4,828 181 78
2017-06-30 4,859 340 77
2017-03-31 5,215 320 76
2016-12-31 5,194 373 72
2016-03-31 4,267 -96 60

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Smart-Core Holdings's earnings are expected to grow by 0.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Smart-Core 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:2166 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 Smart-Core Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2166 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.16
2018-09-30 0.15
2018-06-30 0.15
2018-03-31 0.15
2017-12-31 0.16
2017-09-30 0.16
2017-06-30 0.17
2017-03-31 0.17
2016-12-31 0.18
2016-03-31 0.18

*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 Smart-Core Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Smart-Core Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Smart-Core Holdings has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

2166 Past Performance

  How has Smart-Core 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 Smart-Core 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.
  • Smart-Core Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Smart-Core Holdings's 1-year earnings growth is less than its 5-year average (3.7% vs 19.8%)
  • Smart-Core Holdings's earnings growth has exceeded the HK Electronic industry average in the past year (3.7% vs -4.6%).
Earnings and Revenue History
Smart-Core 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 Smart-Core Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2166 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 4,935.63 80.42 90.54 27.06
2018-09-30 4,854.08 76.33 103.57 26.84
2018-06-30 4,800.95 72.71 93.95 26.78
2018-03-31 4,808.81 75.40 92.55 26.04
2017-12-31 4,785.17 77.58 113.77 25.14
2017-09-30 4,827.54 77.57 90.92 22.66
2017-06-30 4,858.61 77.36 91.07 20.13
2017-03-31 5,215.26 75.98 89.36 19.16
2016-12-31 5,194.47 71.95 85.83 18.83
2016-03-31 4,266.83 59.93 75.40 14.93
2015-12-31 3,761.67 47.24 73.04 16.50
2014-12-31 3,090.20 51.52 56.51 34.92
2013-12-31 2,190.83 0.91 45.84 37.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Smart-Core Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Smart-Core Holdings used its assets more efficiently than the HK Electronic industry average last year based on Return on Assets.
  • Smart-Core Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Smart-Core Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Smart-Core Holdings 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.

2166 Health

 How is Smart-Core 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 Smart-Core Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Smart-Core Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Smart-Core Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Smart-Core Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 17.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from Smart-Core Holdings Company Filings, last reported 4 months ago.

SEHK:2166 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 606.41 59.26 215.47
2018-09-30 606.41 59.26 215.47
2018-06-30 536.56 92.91 181.14
2018-03-31 536.56 92.91 181.14
2017-12-31 512.72 2.13 207.52
2017-09-30 513.43 2.13 207.81
2017-06-30 486.90 91.76 205.40
2017-03-31 484.71 91.35 204.47
2016-12-31 440.75 174.88 236.88
2016-03-31 198.62 326.53 39.65
2015-12-31 180.04 290.54 41.30
2014-12-31 159.59 150.10 13.47
2013-12-31 100.95 75.23 21.57
  • Smart-Core Holdings's level of debt (9.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (74.6% vs 9.8% today).
  • Debt is well covered by operating cash flow (121.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.1x coverage).
X
Financial health checks
We assess Smart-Core Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Smart-Core Holdings has a total score of 6/6, 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.

2166 Dividends

 What is Smart-Core Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.49%
Current annual income from Smart-Core Holdings dividends.
If you bought HK$2,000 of Smart-Core Holdings shares you are expected to receive HK$70 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?
  • Smart-Core Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.07%).
  • Smart-Core Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.72%).
Upcoming dividend payment

Purchase Smart-Core Holdings before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:2166 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 3.6%
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 5.7%

Industry and Market average data is calculated daily.

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

SEHK:2166 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-25 0.060 3.413
2018-05-21 0.060 3.585
2017-09-27 0.040 2.388
2017-08-28 0.040 2.201

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

  • Whilst dividend payments have been stable, Smart-Core Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Smart-Core Holdings only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Smart-Core Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x 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 Smart-Core Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Smart-Core Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Smart-Core Holdings 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.

2166 Management

 What is the CEO of Smart-Core Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Weidong Tian
COMPENSATION HK$175,000
AGE 52
CEO Bio

Mr. Weidong Tian is Founder, Chairman and Chief Executive Officer at Smart-Core Holdings Limited and has been its Executive Director since October 22, 2015. Mr. Tian has been leading Smart-Core for over 10 years and is responsible for overseeing the overall business strategy, development of projects, management and operations. Mr. Tian has extensive experience in the semiconductor industry and its related distribution. He was the sales director of Shenzhen Dadong Electronics Co., Ltd. from October 1993 to June 1997 where he was in charge of the management of the sales team, formulation of sales and marketing strategies and maintenance of business partnerships with clients and suppliers. He was the sales manager of Trident Multimedia Technologies (Shanghai) Co., Ltd. from December 1999 to March 2002 where he was in charge of sales and marketing. Mr. Tian obtained a degree of Bachelor of Electronic Engineering from Xiamen University in July 1989 and a degree of Master of Business Administration from the National University of Singapore in March 2000.

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

Weidong Tian

TITLE
Founder
COMPENSATION
HK$175K
AGE
52

Tsz Leung Wong

TITLE
CFO & Executive Director
COMPENSATION
HK$133K
AGE
54

Hongbing Liu

TITLE
Executive Director
COMPENSATION
HK$138K
AGE
52

Yan Qing

TITLE
Executive Director
AGE
48
TENURE
0.1 yrs

Chak Yau

TITLE
Company Secretary & Financial Controller
AGE
38
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure and age of the Smart-Core Holdings board of directors in years:

3.2
Average Tenure
52
Average Age
  • The tenure for the Smart-Core Holdings board of directors is about average.
Board of Directors

Weidong Tian

TITLE
Founder
COMPENSATION
HK$175K
AGE
52

Tsz Leung Wong

TITLE
CFO & Executive Director
COMPENSATION
HK$133K
AGE
54
TENURE
3.6 yrs

Hongbing Liu

TITLE
Executive Director
COMPENSATION
HK$138K
AGE
52
TENURE
3.6 yrs

Yan Qing

TITLE
Executive Director
AGE
48
TENURE
0.1 yrs

Gang Zheng

TITLE
Independent Non-Executive Director
COMPENSATION
HK$36K
AGE
51
TENURE
3.2 yrs

Paul Wong

TITLE
Independent Non-Executive Director
AGE
65
TENURE
0.8 yrs

Ming-Je Tang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$36K
AGE
65
TENURE
3.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
04. Sep 18 Sell Tsz Leung Wong Individual 30. Aug 18 30. Aug 18 -22,500,000 HK$1.55 HK$-34,875,026
X
Management checks
We assess Smart-Core Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Smart-Core Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

2166 News

Simply Wall St News

Did You Miss Smart-Core Holdings's (HKG:2166) 14% Share Price Gain?

For example, the Smart-Core Holdings Limited (HKG:2166) share price is up 14% in the last year, clearly besting than the market return of around -15% (not including dividends). … 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. … During the last year Smart-Core Holdings grew its earnings per share (EPS) by 4.0%.

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Smart-Core Holdings Limited (HKG:2166) Earns Among The Best Returns In Its Industry

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

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Want To Invest In Smart-Core Holdings Limited (HKG:2166)? Here's How It Performed Lately

Today I will examine Smart-Core Holdings Limited's (HKG:2166) latest earnings update (31 December 2018) and compare these figures against its performance over the past couple of years, in addition to how the rest of 2166's industry performed. … 2166's trailing twelve-month earnings (from 31 December 2018) of HK$80m has. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 21%, indicating the rate at which 2166 is growing has slowed down

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Read This Before You Buy Smart-Core Holdings Limited (HKG:2166) Because Of Its P/E Ratio

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … Smart-Core Holdings has a price to earnings ratio of 10.85, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

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What Does Smart-Core Holdings Limited's (HKG:2166) Balance Sheet Tell Us About It?

While small-cap stocks, such as Smart-Core Holdings Limited (HKG:2166) with its market cap of HK$907m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … The following basic checks can help you get a picture of the company's balance sheet strength.

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What Percentage Of Smart-Core Holdings Limited (HKG:2166) Shares Do Insiders Own?

The big shareholder groups in Smart-Core Holdings Limited (HKG:2166) have power over the company. … As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.'. … Smart-Core Holdings is not a large company by global standards.

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Should You Buy Smart-Core Holdings Limited (HKG:2166) For Its Dividend?

Recently, Smart-Core Holdings Limited (HKG:2166) has started paying dividends to shareholders. … Does Smart-Core Holdings tick all the boxes of a great dividend stock? … View our latest analysis for Smart-Core Holdings

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Should We Be Delighted With Smart-Core Holdings Limited's (HKG:2166) ROE Of 14%?

Our data shows Smart-Core Holdings has a return on equity of 14% for the last year. … One way to conceptualize this, is that for each HK$1 of shareholders' equity it has, the company made HK$0.14 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

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How Many Insiders Sold Smart-Core Holdings Limited (HKG:2166) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Smart-Core Holdings Limited (HKG:2166). … The Last 12 Months Of Insider Transactions At Smart-Core Holdings. … Over the last year, we can see that the biggest insider sale was by CFO & Executive Director Tsz Leung Wong for HK$35m worth of shares, at about HK$1.55 per share.

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Why We Like Smart-Core Holdings Limited’s (HKG:2166) 20% Return On Capital Employed

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

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2166 Company Info

Description

Smart-Core Holdings Limited, an investment holding company, engages in the trading of integrated circuits and other electronic components in the People’s Republic of China. It also provides technical value-added services. The company’s products are used in various applications, such as smart media display, intelligent broadcasting terminal, mobile terminal, smart automotive electronics, and memory products. Its principal customers include consumer electronic product manufacturing companies, original design manufacturers, and original equipment manufacturers in the electronic product industry. The company was formerly known as Smart-Core Cloud Group Limited and changed its name to Smart-Core Holdings Limited in August 2016. The company was founded in 2005 and is based in Kwai Chung, Hong Kong. Smart-Core Holdings Limited is a subsidiary of Smart IC Limited.

Details
Name: Smart-Core Holdings Limited
2166
Exchange: SEHK
Founded: 2005
HK$872,101,701
504,105,030
Website: http://www.smart-core.com.hk
Address: Smart-Core Holdings Limited
Tower B,
15th Floor,
Kwai Chung,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2166 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 07. Oct 2016
Number of employees
Current staff
Staff numbers
353
Smart-Core Holdings employees.
Industry
Technology Distributors
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 13:04
End of day share price update: 2019/05/20 00:00
Last earnings filing: 2019/04/25
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.