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Goldpac Group

SEHK:3315
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3315
SEHK
HK$2B
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

Goldpac Group Limited, an investment holding company, provides embedded software and secure payment products for smart secure payment. The last earnings update was 6 days ago. More info.


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3315 Share Price and Events
7 Day Returns
-2.1%
SEHK:3315
-1.9%
HK Tech
1.7%
HK Market
1 Year Returns
-2.5%
SEHK:3315
-15.4%
HK Tech
-9.5%
HK Market
3315 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Goldpac Group (3315) -2.1% 16.8% 23.6% -2.5% -21.6% -68.6%
HK Tech -1.9% 6.7% -0.7% -15.4% -7.1% -29.6%
HK Market 1.7% 3.7% 14.2% -9.5% 29.3% 20.7%
1 Year Return vs Industry and Market
  • 3315 outperformed the Tech industry which returned -15.4% over the past year.
  • 3315 outperformed the Market in Hong Kong which returned -9.5% over the past year.
Price Volatility
3315
Industry
5yr Volatility vs Market

Value

 Is Goldpac 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 Goldpac 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 Goldpac Group.

SEHK:3315 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 8.8%
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:3315
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Tech Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.027 (1 + (1- 25%) (0%))
1.018
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.018 * 6.65%)
8.77%

Discounted Cash Flow Calculation for SEHK:3315 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Goldpac 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:3315 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 8.77%)
2019 55.59 Est @ 10.43% 51.11
2020 59.98 Est @ 7.9% 50.70
2021 63.66 Est @ 6.13% 49.47
2022 66.78 Est @ 4.89% 47.70
2023 69.47 Est @ 4.03% 45.62
2024 71.84 Est @ 3.42% 43.38
2025 73.99 Est @ 2.99% 41.07
2026 75.99 Est @ 2.7% 38.78
2027 77.88 Est @ 2.49% 36.54
2028 79.70 Est @ 2.34% 34.38
Present value of next 10 years cash flows CN¥438.73
SEHK:3315 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥79.70 × (1 + 2%) ÷ (8.77% – 2%)
CN¥1,200.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥1,200.86 ÷ (1 + 8.77%)10
CN¥517.93
SEHK:3315 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥438.73 + CN¥517.93
CN¥956.67
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥956.67 / 833.56
CN¥1.15
SEHK:3315 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:3315)
1.173
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥1.15 x 1.173
HK$1.35
Value per share (HKD) From above. HK$1.35
Current discount Discount to share price of HK$2.36
= -1 x (HK$2.36 - HK$1.35) / HK$1.35
-75.4%

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

  • The current share price of Goldpac Group 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 Goldpac Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Goldpac Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:3315 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.21
SEHK:3315 Share Price ** SEHK (2019-03-21) in HKD HK$2.36
SEHK:3315 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.853 CN¥2.01
Hong Kong Tech Industry PE Ratio Median Figure of 9 Publicly-Listed Tech Companies 11.81x
Hong Kong Market PE Ratio Median Figure of 1,498 Publicly-Listed Companies 10.92x

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

** Primary Listing of Goldpac Group.

SEHK:3315 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3315 Share Price ÷ EPS (both in CNY)

= 2.01 ÷ 0.21

9.49x

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

  • Goldpac Group is good value based on earnings compared to the HK Tech industry average.
  • Goldpac Group is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Goldpac Group's expected growth come at a high price?
Raw Data
SEHK:3315 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
13.9%per year
Hong Kong Tech Industry PEG Ratio Median Figure of 5 Publicly-Listed Tech Companies 0.88x
Hong Kong Market PEG Ratio Median Figure of 469 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 Goldpac Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Goldpac Group's assets?
Raw Data
SEHK:3315 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥2.37
SEHK:3315 Share Price * SEHK (2019-03-21) in HKD HK$2.36
SEHK:3315 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.853 CN¥2.01
Hong Kong Tech Industry PB Ratio Median Figure of 21 Publicly-Listed Tech Companies 0.98x
Hong Kong Market PB Ratio Median Figure of 2,138 Publicly-Listed Companies 0.99x
SEHK:3315 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3315 Share Price ÷ Book Value per Share (both in CNY)

= 2.01 ÷ 2.37

0.85x

* Primary Listing of Goldpac Group.

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

  • Goldpac Group is good value based on assets compared to the HK Tech industry average.
X
Value checks
We assess Goldpac 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 Tech 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 Tech industry average (and greater than 0)? (1 check)
  5. Goldpac Group has a total score of 3/6, 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.

Future Performance

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

  • No analysts cover Goldpac 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
13.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Goldpac Group expected to grow at an attractive rate?
  • Goldpac Group's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Goldpac Group's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare Goldpac Group's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:3315 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:3315 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 13.9%
Hong Kong Tech Industry Earnings Growth Rate Market Cap Weighted Average 14.5%
Hong Kong Tech Industry Revenue Growth Rate Market Cap Weighted Average 14%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 9.9%

*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:3315 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:3315 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 1,411 175
2018-09-30 1,377 172
2018-06-30 1,343 277 170
2018-03-31 1,372 213 167
2017-12-31 1,401 148 164
2017-09-30 1,402 264 178
2017-06-30 1,403 382 191
2017-03-31 1,398 402 198
2016-12-31 1,394 423 205
2016-09-30 1,443 311 208
2016-06-30 1,492 200 211
2016-03-31 1,588 150 227

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Goldpac Group's earnings are expected to grow by 13.9% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Goldpac 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:3315 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Goldpac Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3315 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.21
2018-09-30 0.21
2018-06-30 0.21
2018-03-31 0.20
2017-12-31 0.20
2017-09-30 0.21
2017-06-30 0.23
2017-03-31 0.24
2016-12-31 0.25
2016-09-30 0.25
2016-06-30 0.25
2016-03-31 0.27

*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 Goldpac Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Goldpac 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.
Goldpac Group 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 Goldpac 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 Goldpac Group's growth in the last year to its industry (Tech).
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.
  • Goldpac Group's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Goldpac Group's 1-year earnings growth exceeds its 5-year average (6.5% vs -1.6%)
  • Goldpac Group's earnings growth has exceeded the HK Tech industry average in the past year (6.5% vs 6.4%).
Earnings and Revenue History
Goldpac 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 Goldpac Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3315 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,411.13 175.19 143.30 113.85
2018-09-30 1,376.97 172.46 140.20 112.73
2018-06-30 1,342.81 169.73 137.09 111.60
2018-03-31 1,371.83 167.10 139.36 110.33
2017-12-31 1,400.84 164.48 141.64 109.05
2017-09-30 1,402.06 177.55 147.61 104.72
2017-06-30 1,403.28 190.63 153.57 100.38
2017-03-31 1,398.50 197.77 159.33 99.21
2016-12-31 1,393.71 204.90 165.09 98.05
2016-09-30 1,443.01 208.13 159.54 91.26
2016-06-30 1,492.31 211.36 153.99 84.47
2016-03-31 1,588.47 226.60 148.53 82.01
2015-12-31 1,684.63 241.84 143.07 79.54
2015-09-30 1,628.61 231.56 141.90 79.76
2015-06-30 1,572.59 221.28 140.73 79.98
2015-03-31 1,546.83 217.39 141.91 75.16
2014-12-31 1,521.07 213.51 143.10 70.34
2014-09-30 1,457.60 195.66 135.49 64.99
2014-06-30 1,394.12 177.82 127.88 59.65
2014-03-31 1,253.19 159.32 108.64 53.20
2013-12-31 1,112.26 140.83 89.40 46.75
2013-09-30 1,026.75 147.01 76.56 41.72
2013-06-30 941.25 153.19 63.72 36.68
2013-03-31 808.93 134.15 59.52 32.61
2012-12-31 676.61 115.11 55.32 28.55

*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.
  • Goldpac Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Goldpac Group used its assets more efficiently than the HK Tech industry average last year based on Return on Assets.
  • Goldpac Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Goldpac 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 Tech 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.
Goldpac Group 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.

Health

 How is Goldpac 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 Goldpac Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Goldpac Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Goldpac Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Goldpac 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.
  • Goldpac Group 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 Goldpac Group Company Filings, last reported 2 months ago.

SEHK:3315 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,980.08 0.00 1,304.48
2018-09-30 1,980.08 0.00 1,304.48
2018-06-30 1,911.98 0.00 1,183.20
2018-03-31 1,911.98 0.00 1,183.20
2017-12-31 1,929.88 0.00 1,405.66
2017-09-30 1,929.88 0.00 1,405.66
2017-06-30 1,862.88 0.00 1,042.98
2017-03-31 1,862.88 0.00 1,042.98
2016-12-31 1,873.33 0.00 1,513.43
2016-09-30 1,873.33 0.00 1,513.43
2016-06-30 1,807.06 0.00 1,006.40
2016-03-31 1,807.06 0.00 1,006.40
2015-12-31 1,814.21 0.00 1,279.71
2015-09-30 1,814.21 0.00 1,279.71
2015-06-30 1,680.00 5.45 1,025.21
2015-03-31 1,680.00 5.45 1,025.21
2014-12-31 1,610.84 0.00 1,482.83
2014-09-30 1,610.84 0.00 1,482.83
2014-06-30 1,500.27 71.27 1,010.80
2014-03-31 1,500.27 71.27 1,010.80
2013-12-31 1,397.11 15.32 1,296.39
2013-09-30 1,397.11 15.32 1,296.39
2013-06-30 276.08 53.94 164.47
2013-03-31 276.08 53.94 164.47
2012-12-31 213.47 38.59 244.02
  • Goldpac Group has no debt.
  • Goldpac Group has no debt compared to 5 years ago when it was 1.1%.
  • Goldpac Group has no debt, it does not need to be covered by operating cash flow.
  • Goldpac Group has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Goldpac 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. Goldpac Group 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.

Dividends

 What is Goldpac 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
8.55%
Current annual income from Goldpac Group dividends.
If you bought HK$2,000 of Goldpac Group shares you are expected to receive HK$171 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?
  • Goldpac Group's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.97%).
  • Goldpac Group's dividend is above the markets top 25% of dividend payers in Hong Kong (5.3%).
Upcoming dividend payment

Purchase Goldpac Group on or 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:3315 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 Tech Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 2.9%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 924 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

SEHK:3315 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-15 0.172 8.659
2018-08-20 0.165 9.617
2018-04-12 0.164 9.103
2017-04-12 0.177 8.798
2017-03-21 0.177 7.860
2016-09-19 0.068 3.454
2016-08-16 0.068 3.073
2016-04-18 0.090 4.251
2015-05-21 0.080 2.705
2014-04-16 0.038 0.747
2013-12-04 0.000 0.000

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

  • Goldpac Group has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Goldpac Group only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Goldpac Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x 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 Goldpac Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Goldpac Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Goldpac Group has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Goldpac 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
Ping Hou
COMPENSATION CN¥6,239,000
AGE 58
TENURE AS CEO 8.2 years
CEO Bio

Mr. Ping Hou has been Chief Executive Officer of Goldpac Group Ltd. since 2011. Mr. Hou is primarily responsible for the overall management of Goldpac Group. Mr. Hou has been an Executive Director of Goldpac Group Ltd. since November 15, 2013 and was first appointed as its Director in August 30, 2011. He is also a Director and Chief Executive Officer of Goldpac Datacard Solutions Company Limited. He served as a Director of Goldpac Datacard and Director and the Chief Executive Officer of Goldpac Secur-Card since 2011. Prior to this, Mr. Hou served as the Head of credit card at Deutsche Bank (China) Co., Ltd at its Beijing branch and the Chief Executive Officer in the Joint Credit Card Center of Deutsche Bank (China) Co., Ltd. and Huaxia Bank from 2006 to 2011. Mr. Hou served various positions at Bank of China Group and subsequently, BOC Credit Card (International) Limited since 1999, including as Deputy General Manager of BOC Credit Card (International) Limited in Hong Kong from 1999 to 2004. Mr. Hou has over 30 years of experience in the banking industry, of which over 14 years of experience in the card industry. He serves as an Independent Director of the Huijin Technology (Zhuhai) Co., Ltd. He serves as an Independent Director OF SGSG Science&Technology Co., Ltd. Zhuhai. He serves as a Director of Goldpac Secur-Card (Zhuhai) Ltd. He is a Member of the Communist Party of China. Mr. Hou received a Master of Business Administration Degree from the Hong Kong Baptist University in December 2003.

CEO Compensation
  • Ping's compensation has been consistent with company performance over the past year.
  • Ping's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Goldpac Group management team in years:

8.2
Average Tenure
53.5
Average Age
  • The average tenure for the Goldpac Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Run Lu

TITLE
Chairman
COMPENSATION
CN¥7M
AGE
64

Ping Hou

TITLE
CEO & Executive Director
COMPENSATION
CN¥6M
AGE
58
TENURE
8.2 yrs

Siqiang Wu

TITLE
COO & Executive Director
COMPENSATION
CN¥3M
AGE
46
TENURE
8.2 yrs

Runyi Lu

TITLE
Senior VP & Executive Director
COMPENSATION
CN¥3M
AGE
60
TENURE
15.2 yrs

Xiaozhong Lu

TITLE
Senior VP & Executive Director
COMPENSATION
CN¥2M
AGE
50

Wai Ling

TITLE
Executive Director
AGE
31

Yijin Li

TITLE
CFO & Company Secretary
AGE
48
TENURE
7.2 yrs

Jun Li

TITLE
Chief Technology Officer
AGE
57
TENURE
6.2 yrs
Board of Directors Tenure

Average tenure and age of the Goldpac Group board of directors in years:

5.3
Average Tenure
58
Average Age
  • The tenure for the Goldpac Group board of directors is about average.
Board of Directors

Run Lu

TITLE
Chairman
COMPENSATION
CN¥7M
AGE
64
TENURE
8.2 yrs

Ping Hou

TITLE
CEO & Executive Director
COMPENSATION
CN¥6M
AGE
58
TENURE
7.6 yrs

Siqiang Wu

TITLE
COO & Executive Director
COMPENSATION
CN¥3M
AGE
46
TENURE
1.8 yrs

Runyi Lu

TITLE
Senior VP & Executive Director
COMPENSATION
CN¥3M
AGE
60
TENURE
14.3 yrs

Xiaozhong Lu

TITLE
Senior VP & Executive Director
COMPENSATION
CN¥2M
AGE
50
TENURE
5.8 yrs

Wai Ling

TITLE
Executive Director
AGE
31
TENURE
1.8 yrs

Alvin Mak

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥228K
AGE
66
TENURE
5.3 yrs

John Liu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥171K
AGE
67
TENURE
5.3 yrs

Lu Ye

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥106K
AGE
55
TENURE
1.8 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$) Value (HK$)
02. Oct 18 Buy NTAsset (Cayman) Limited Company 02. Oct 18 02. Oct 18 450,000 HK$2.04 HK$918,000
05. Sep 18 Buy NTAsset (Cayman) Limited Company 04. Sep 18 04. Sep 18 1,855,000 HK$1.93 HK$3,580,146
15. Jun 18 Sell Areo Holdings Limited Company 13. Jun 18 13. Jun 18 -8,000 HK$2.11 HK$-16,919
15. Jun 18 Sell Orchid Asia Group Management, Ltd. Company 13. Jun 18 13. Jun 18 -260,000 HK$2.11 HK$-549,875
X
Management checks
We assess Goldpac 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. Goldpac 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.

News

Simply Wall St News

Does Goldpac Group Limited's (HKG:3315) Past Performance Indicate A Stronger Future?

Below, I will examine Goldpac Group Limited's (HKG:3315) track record on a high level, to give you some insight into how the company has been performing against its long term trend and its industry peers. … Could 3315 beat the long-term trend and outperform its industry. … Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of -1.6%, indicating the rate at which 3315 is growing has accelerated

Simply Wall St -

The Goldpac Group Share Price Is Down 78% So Some Shareholders Are Rather Upset

Goldpac Group Limited (HKG:3315) shareholders should be happy to see the share price up 12% in the last quarter. … Five years have seen the share price descend precipitously, down a full 78%. … While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance.

Simply Wall St -

Is Goldpac Group Limited (HKG:3315) Overpaying Its CEO?

In 2011 Ping Hou was appointed CEO of Goldpac Group Limited (HKG:3315). … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Ping Hou's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Why We’re Not Impressed By Goldpac Group Limited’s (HKG:3315) 7.3% ROCE

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. … Understanding Return On Capital Employed (ROCE). … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Should You Be Concerned About Goldpac Group Limited's (HKG:3315) Historical Volatility?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

How Much Of Goldpac Group Limited (HKG:3315) Do Insiders Own?

The big shareholder groups in Goldpac Group Limited (HKG:3315) have power over the company. … Goldpac Group is not a large company by global standards. … Check out our latest analysis for Goldpac Group

Simply Wall St -

Is Goldpac Group Limited's (HKG:3315) Balance Sheet Strong Enough To Weather A Storm?

However, it also faces higher cost of capital given interest cost is generally lower than equity. … Is financial flexibility worth the lower cost of capital. … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital

Simply Wall St -

Is Goldpac Group Limited's (HKG:3315) CEO Pay Justified?

At the time of writing our data says that Goldpac Group Limited has a market cap of HK$1.6b, and is paying total annual CEO compensation of CN¥6m. … We examined companies with market caps from CN¥694m to CN¥2.8b, and discovered that the median CEO compensation of that group was CN¥2m. … It would therefore appear that Goldpac Group Limited pays Ping Hou more than the median CEO remuneration at companies of a similar size, in the same market

Simply Wall St -

Goldpac Group Limited (HKG:3315): Should The Recent Earnings Drop Worry You?

When Goldpac Group Limited (HKG:3315) announced its most recent earnings (30 June 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … 3315's trailing twelve-month earnings (from 30 June 2018) of CN¥170m has. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 1.8%, indicating the rate at which 3315 is growing has slowed down

Simply Wall St -

Who Owns Goldpac Group Limited (HKG:3315)?

In this analysis, my focus will be on developing a perspective on Goldpac Group Limited’s (HKG:3315) latest ownership structure, a less discussed, but important factor. … The impact of a company's ownership structure affects both its short- and long-term performance. … View our latest analysis for Goldpac Group

Simply Wall St -

Company Info

Description

Goldpac Group Limited, an investment holding company, provides embedded software and secure payment products for smart secure payment. It operates through Embedded Software and Secure Payment Products, and Platform and Services segments. The company also provides personalization services, system platforms, and other solutions for customers in a range of sectors, including financial, government, healthcare, transportation, and retail. In addition, it is involved in the property holding activities; and manufacture and sale of smart cards carrying personal identity. It operates in the People’s Republic of China, Bangladesh, Mongolia, the Philippines, Pakistan, and other Southeast Asian and Central Asian countries. The company was formerly known as Gemplus Goldpac Group Limited and changed its name to Goldpac Group Limited in November 2013. Goldpac Group Limited was founded in 1995 and is headquartered in Wanchai, Hong Kong.

Details
Name: Goldpac Group Limited
3315
Exchange: SEHK
Founded: 1995
HK$1,983,875,180
833,561,000
Website: http://www.goldpac.com
Address: Goldpac Group Limited
Bank of East Asia Harbour View Centre,
13th Floor,
Wanchai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3315 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 04. Dec 2013
DB G9D Ordinary Shares Deutsche Boerse AG DE EUR 04. Dec 2013
Number of employees
Current staff
Staff numbers
1,735
Goldpac Group employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 12:54
End of day share price update: 2019/03/21 00:00
Last earnings filing: 2019/03/15
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.