Executive Summary
Smart-Core Holdings Limited, an investment holding company, engages in the distribution of integrated circuits and other electronic components in the People’s Republic of China. More Details
Rewards
Risk Analysis
Snowflake Analysis
Excellent balance sheet and fair value.
Share Price & News
How has Smart-Core Holdings's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 2166 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-3.1%
2166
0.6%
HK Electronic
1.2%
HK Market
1 Year Return
-5.9%
2166
-3.9%
HK Electronic
2.7%
HK Market
Return vs Industry: 2166 underperformed the Hong Kong Electronic industry which returned -3.9% over the past year.
Return vs Market: 2166 underperformed the Hong Kong Market which returned 2.7% over the past year.
Shareholder returns
| 2166 | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.1% | 0.6% | 1.2% |
| 30 Day | -1.6% | 2.1% | 4.0% |
| 90 Day | 3.3% | -6.4% | 3.2% |
| 1 Year | -3.0%-5.9% | -0.9%-3.9% | 7.0%2.7% |
| 3 Year | -24.0%-31.4% | -33.4%-39.0% | -4.4%-14.8% |
| 5 Year | n/a | 18.1%2.1% | 19.5%-0.7% |
Price Volatility Vs. Market
How volatile is Smart-Core Holdings's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Here's What To Make Of Smart-Core Holdings' (HKG:2166) Returns On Capital3 weeks ago | Simply Wall St
Does Smart-Core Holdings (HKG:2166) Have A Healthy Balance Sheet?1 month ago | Simply Wall St
How Much Did Smart-Core Holdings' (HKG:2166) CEO Pocket Last Year?Valuation
Is Smart-Core Holdings undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 2166 (HK$1.27) is trading below our estimate of fair value (HK$23.72)
Significantly Below Fair Value: 2166 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 2166 is good value based on its PE Ratio (11.5x) compared to the HK Electronic industry average (12.4x).
PE vs Market: 2166 is poor value based on its PE Ratio (11.5x) compared to the Hong Kong market (11.1x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate 2166's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: 2166 is overvalued based on its PB Ratio (1x) compared to the HK Electronic industry average (0.8x).
Next Steps
Future Growth
How is Smart-Core Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
20.5%
Forecasted Tech industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Smart-Core Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Next Steps
- Examine whether Smart-Core Holdings is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Smart-Core Holdings competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Tech industry.
Past Performance
How has Smart-Core Holdings performed over the past 5 years?
-1.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 2166 has high quality earnings.
Growing Profit Margin: 2166's current net profit margins (1.1%) are lower than last year (1.5%).
Past Earnings Growth Analysis
Earnings Trend: 2166's earnings have declined by 1% per year over the past 5 years.
Accelerating Growth: 2166's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: 2166 had negative earnings growth (-24.6%) over the past year, making it difficult to compare to the Electronic industry average (-15.1%).
Return on Equity
High ROE: 2166's Return on Equity (9.8%) is considered low.
Next Steps
Financial Health
How is Smart-Core Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: 2166's short term assets (HK$1.3B) exceed its short term liabilities (HK$834.0M).
Long Term Liabilities: 2166's short term assets (HK$1.3B) exceed its long term liabilities (HK$12.1M).
Debt to Equity History and Analysis
Debt Level: 2166's debt to equity ratio (53.7%) is considered high.
Reducing Debt: 2166's debt to equity ratio has reduced from 129.8% to 53.7% over the past 5 years.
Debt Coverage: 2166's debt is well covered by operating cash flow (88.9%).
Interest Coverage: 2166's interest payments on its debt are well covered by EBIT (4.5x coverage).
Balance Sheet
Next Steps
Dividend
What is Smart-Core Holdings's current dividend yield, its reliability and sustainability?
3.15%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 2166's dividend (3.15%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.24%).
High Dividend: 2166's dividend (3.15%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.77%).
Stability and Growth of Payments
Stable Dividend: 2166 has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: 2166 has only been paying a dividend for 3 years, and since then payments have not increased.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (36.1%), 2166's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.6yrs
Average board tenure
CEO
Weidong Tian (54 yo)
no data
Tenure
HK$1,348,000
Compensation
Mr. Weidong Tian is Founder, Chairman and Chief Executive Officer at Smart-Core Holdings Limited and has been its Executive Director since October 22, 2015. Mr. Tian has been leading Smart-Core for over 10 ...
CEO Compensation Analysis
Compensation vs Market: Weidong's total compensation ($USD173.93K) is about average for companies of similar size in the Hong Kong market ($USD232.63K).
Compensation vs Earnings: Weidong's compensation has been consistent with company performance over the past year.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | no data | HK$1.35m | 53.35% HK$ 333.4m | |
| CFO & Executive Director | 5yrs | HK$988.00k | 18.29% HK$ 114.3m | |
| Executive Director | 5yrs | HK$1.05m | no data | |
| Executive Director | 1.5yrs | HK$677.00k | 0.25% HK$ 1.6m | |
| Independent Non-Executive Director | 4.58yrs | HK$300.00k | no data | |
| Independent Non-Executive Director | 2.25yrs | HK$300.00k | no data | |
| Independent Non-Executive Director | 4.58yrs | HK$300.00k | no data |
4.6yrs
Average Tenure
54yo
Average Age
Experienced Board: 2166's board of directors are considered experienced (4.6 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.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Smart-Core Holdings Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Smart-Core Holdings Limited
- Ticker: 2166
- Exchange: SEHK
- Founded: 2005
- Industry: Technology Distributors
- Sector: Tech
- Market Cap: HK$624.910m
- Shares outstanding: 492.06m
- Website: https://www.smart-core.com.hk
Number of Employees
Location
- Smart-Core Holdings Limited
- Tower B
- 15th Floor
- Kwai Chung
- New Territories
- Hong Kong
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 2166 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Ordinary Shares | HK | HKD | Oct 2016 |
Biography
Smart-Core Holdings Limited, an investment holding company, engages in the distribution of integrated circuits and other electronic components in the People’s Republic of China. Its products are used in va ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/24 12:44 |
| End of Day Share Price | 2020/10/23 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.