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China Display Optoelectronics Technology Holdings

SEHK:334
Snowflake Description

High growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
334
SEHK
HK$2B
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

China Display Optoelectronics Technology Holdings Limited, an investment holding company, engages in the research, development, manufacture, distribution, and sale of liquid crystal display modules for mobile phones and tablets in Hong Kong, China, South Korea, and Taiwan. The last earnings update was 1 day ago. More info.


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  • China Display Optoelectronics Technology Holdings has significant price volatility in the past 3 months.
334 Share Price and Events
7 Day Returns
0%
SEHK:334
-0.8%
HK Tech
1.7%
HK Market
1 Year Returns
19%
SEHK:334
-15.9%
HK Tech
-9.4%
HK Market
334 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Display Optoelectronics Technology Holdings (334) 0% 56.3% 92.3% 19% 25% -
HK Tech -0.8% 11.1% 1% -15.9% -7.4% -29.5%
HK Market 1.7% 5.9% 13.7% -9.4% 29.8% 22.4%
1 Year Return vs Industry and Market
  • 334 outperformed the Tech industry which returned -15.9% over the past year.
  • 334 outperformed the Market in Hong Kong which returned -9.4% over the past year.
Price Volatility
334
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for China Display Optoelectronics Technology Holdings's competitors could be found in our database.

Value

 Is China Display Optoelectronics Technology 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 China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings.

SEHK:334 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) 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:334
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
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%) (24.51%))
1.144
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.144 * 5.96%)
8.82%

Discounted Cash Flow Calculation for SEHK:334 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China Display Optoelectronics Technology 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:334 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 8.82%)
2019 106.50 Analyst x1 97.87
2020 63.93 Analyst x3 53.99
2021 192.95 Analyst x2 149.72
2022 289.78 Est @ 50.19% 206.63
2023 393.32 Est @ 35.73% 257.73
2024 494.06 Est @ 25.61% 297.49
2025 585.61 Est @ 18.53% 324.03
2026 665.09 Est @ 13.57% 338.17
2027 732.27 Est @ 10.1% 342.14
2028 788.45 Est @ 7.67% 338.52
Present value of next 10 years cash flows CN¥2,406.29
SEHK:334 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥788.45 × (1 + 2%) ÷ (8.82% – 2%)
CN¥11,793.40
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥11,793.40 ÷ (1 + 8.82%)10
CN¥5,063.55
SEHK:334 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥2,406.29 + CN¥5,063.55
CN¥7,469.84
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥7,469.84 / 2,086.80
CN¥3.58
SEHK:334 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:334)
1.17
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥3.58 x 1.17
HK$4.19
Value per share (HKD) From above. HK$4.19
Current discount Discount to share price of HK$1.00
= -1 x (HK$1.00 - HK$4.19) / HK$4.19
76.1%

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

Current Discount
Amount off the current price China Display Optoelectronics Technology Holdings is available for.
Intrinsic value
>50%
Share price is HK$1 vs Future cash flow value of HK$4.19
Current Discount Checks
For China Display Optoelectronics Technology Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Display Optoelectronics Technology Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China Display Optoelectronics Technology Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 China Display Optoelectronics Technology Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Display Optoelectronics Technology Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:334 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.04
SEHK:334 Share Price ** SEHK (2019-03-20) in HKD HK$1
SEHK:334 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥0.86
Hong Kong Tech Industry PE Ratio Median Figure of 8 Publicly-Listed Tech Companies 14.99x
Hong Kong Market PE Ratio Median Figure of 1,496 Publicly-Listed Companies 11.02x

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

** Primary Listing of China Display Optoelectronics Technology Holdings.

SEHK:334 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:334 Share Price ÷ EPS (both in CNY)

= 0.86 ÷ 0.04

21.65x

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

  • China Display Optoelectronics Technology Holdings is overvalued based on earnings compared to the HK Tech industry average.
  • China Display Optoelectronics Technology Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does China Display Optoelectronics Technology Holdings's expected growth come at a high price?
Raw Data
SEHK:334 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.65x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
29.8%per year
Global Tech Industry PEG Ratio Median Figure of 24 Publicly-Listed Tech Companies 1.04x
Hong Kong Market PEG Ratio Median Figure of 467 Publicly-Listed Companies 0.81x

*Line of best fit is calculated by linear regression .

SEHK:334 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.65x ÷ 29.8%

0.73x

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

  • China Display Optoelectronics Technology Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on China Display Optoelectronics Technology Holdings's assets?
Raw Data
SEHK:334 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥0.26
SEHK:334 Share Price * SEHK (2019-03-20) in HKD HK$1
SEHK:334 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥0.86
Hong Kong Tech Industry PB Ratio Median Figure of 21 Publicly-Listed Tech Companies 0.96x
Hong Kong Market PB Ratio Median Figure of 2,138 Publicly-Listed Companies 0.99x
SEHK:334 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:334 Share Price ÷ Book Value per Share (both in CNY)

= 0.86 ÷ 0.26

3.29x

* Primary Listing of China Display Optoelectronics Technology Holdings.

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

  • China Display Optoelectronics Technology Holdings is overvalued based on assets compared to the HK Tech industry average.
X
Value checks
We assess China Display Optoelectronics Technology 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 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. China Display Optoelectronics Technology Holdings 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 China Display Optoelectronics Technology Holdings expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

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
29.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Display Optoelectronics Technology Holdings expected to grow at an attractive rate?
  • China Display Optoelectronics Technology Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • China Display Optoelectronics Technology Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • China Display Optoelectronics Technology Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:334 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:334 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 29.8%
SEHK:334 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 17.8%
Hong Kong Tech Industry Earnings Growth Rate Market Cap Weighted Average 21.4%
Hong Kong Tech Industry Revenue Growth Rate Market Cap Weighted Average 15.2%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.1%

*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:334 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:334 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 9,419 368 229 3
2020-12-31 8,017 306 198 4
2019-12-31 7,237 194 156 3
SEHK:334 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 5,281 82
2018-09-30 4,256 59
2018-06-30 3,231 294 37
2018-03-31 3,348 153 76
2017-12-31 3,465 12 116
2017-09-30 3,595 0 135
2017-06-30 3,726 -12 154
2017-03-31 3,702 85 123
2016-12-31 3,678 182 91
2016-06-30 2,949 78 122
2016-03-31 2,704 128 70

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Display Optoelectronics Technology Holdings's earnings are expected to grow significantly at over 20% yearly.
  • China Display Optoelectronics Technology Holdings's revenue is expected to grow by 17.8% yearly, however this is not considered high growth (20% yearly).
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:334 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 4 Analyst Estimates (S&P Global) See Below

All data from China Display Optoelectronics Technology Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:334 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.11 0.11 0.11 3.00
2020-12-31 0.10 0.10 0.09 3.00
2019-12-31 0.07 0.09 0.07 3.00
SEHK:334 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.04
2018-09-30 0.03
2018-06-30 0.02
2018-03-31 0.04
2017-12-31 0.06
2017-09-30 0.07
2017-06-30 0.08
2017-03-31 0.06
2016-12-31 0.05
2016-06-30 0.09
2016-03-31 0.07

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • China Display Optoelectronics Technology Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess China Display Optoelectronics Technology 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.
China Display Optoelectronics Technology Holdings has a total score of 5/6, 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 China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings'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.
  • China Display Optoelectronics Technology Holdings's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • China Display Optoelectronics Technology Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • China Display Optoelectronics Technology Holdings's 1-year earnings growth is negative, it can't be compared to the HK Tech industry average.
Earnings and Revenue History
China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:334 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 5,280.86 81.78 124.38
2018-09-30 4,255.95 59.22 138.76
2018-06-30 3,231.04 36.67 153.15
2018-03-31 3,347.80 76.20 155.24
2017-12-31 3,464.57 115.73 157.34
2017-09-30 3,595.21 135.00 136.74
2017-06-30 3,725.84 154.27 116.14
2017-03-31 3,702.00 122.69 113.16
2016-12-31 3,678.15 91.11 110.17
2016-06-30 2,949.41 121.60 102.52
2016-03-31 2,704.09 69.60 97.09
2015-12-31 2,458.78 17.61 91.66
2014-06-30 2,497.71 89.72 101.92

*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.
  • China Display Optoelectronics Technology Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Display Optoelectronics Technology Holdings used its assets more efficiently than the HK Tech industry average last year based on Return on Assets.
  • China Display Optoelectronics Technology Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess China Display Optoelectronics Technology 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 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.
China Display Optoelectronics Technology Holdings has a total score of 2/6, 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 China Display Optoelectronics Technology 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 China Display Optoelectronics Technology Holdings's finances.

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

SEHK:334 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 680.34 446.02 277.44
2018-09-30 680.34 446.02 277.44
2018-06-30 595.08 307.23 221.77
2018-03-31 595.08 307.23 221.77
2017-12-31 613.41 472.12 595.82
2017-09-30 613.41 472.12 595.82
2017-06-30 437.21 398.27 228.84
2017-03-31 437.21 398.27 228.84
2016-12-31 368.13 182.61 486.66
2016-06-30 255.70 239.83 277.44
2016-03-31 255.70 239.83 277.44
2015-12-31 104.94 195.83 374.88
2014-06-30 131.19 56.63 185.14
  • China Display Optoelectronics Technology Holdings's level of debt (65.6%) compared to net worth is high (greater than 40%).
  • Unable to establish if China Display Optoelectronics Technology Holdings's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (65.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.8x coverage).
X
Financial health checks
We assess China Display Optoelectronics Technology 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. China Display Optoelectronics Technology Holdings has a total score of 4/6, 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 China Display Optoelectronics Technology 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
1.87%
Current annual income from China Display Optoelectronics Technology Holdings dividends. Estimated to be 0.92% next year.
If you bought HK$2,000 of China Display Optoelectronics Technology Holdings shares you are expected to receive HK$37 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?
  • China Display Optoelectronics Technology Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (1.96%).
  • China Display Optoelectronics Technology Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.3%).
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:334 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 4 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 922 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:334 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.01 2.00
2020-12-31 0.01 2.00
2019-12-31 0.01 2.00
SEHK:334 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-03-26 0.016 3.308
2017-04-12 0.016 1.914

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

  • Whilst dividend payments have been stable, China Display Optoelectronics Technology Holdings has been paying a dividend for less than 10 years.
  • China Display Optoelectronics Technology Holdings has only been paying a dividend for 2 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of China Display Optoelectronics Technology Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • No need to calculate the sustainability of China Display Optoelectronics Technology Holdings's dividends in 3 years as they are not expected to pay a notable one for Hong Kong.
X
Income/ dividend checks
We assess China Display Optoelectronics Technology Holdings'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 China Display Optoelectronics Technology Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Display Optoelectronics Technology Holdings has a total score of 1/6, 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 China Display Optoelectronics Technology 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
Hongping Ouyang
COMPENSATION CN¥3,896,000
AGE 41
TENURE AS CEO 0 years
CEO Bio

Mr. Hongping Ouyang served as the Chief Operating Officer at China Display Optoelectronics Technology Holdings Limited until March 7, 2019 and serves as its Chief Executive Officer since March 7, 2019. Mr. Ouyang has been an Executive Director of China Display Optoelectronics Technology Holdings Limited (also known as TCL Display Technology Holdings Limited) since June 2015. He served as Deputy General Manager of TCL Display since January 2009. Mr. Ouyang is responsible for supervising engineering related matters, including research and development, procurement, production planning and management. He joined TCL Group in 2004. From August 2004 to December 2008, he served as the Chief Engineer of TCL Display, responsible for supervising engineering related matters, including production planning and management. Mr. Ouyang graduated from University of Nanchang with a Bachelor's degree in Industrial Automation in July 1999.

CEO Compensation
  • Hongping's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Hongping's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team

Hongping Ouyang

TITLE
CEO & Executive Director
COMPENSATION
CN¥4M
AGE
41

Xianzhen Wen

TITLE
Finance Director & Executive Director
AGE
46
TENURE
1.3 yrs

Clara Siu

TITLE
Vice Director of Finance and Investor Relations

Bo Peng

TITLE
Legal Manager

Hui Yu

TITLE
Marketing Director
AGE
43

Yiwen Ding

TITLE
Vice General Manager
AGE
51

Jun Zhao

TITLE
Executive Director
AGE
46

Bo Cheung

TITLE
Company Secretary
AGE
29
TENURE
1.9 yrs
Board of Directors Tenure

Average tenure and age of the China Display Optoelectronics Technology Holdings board of directors in years:

3.6
Average Tenure
46
Average Age
  • The tenure for the China Display Optoelectronics Technology Holdings board of directors is about average.
Board of Directors

Qian Liao

TITLE
Chairman
AGE
38
TENURE
2.2 yrs

Hongping Ouyang

TITLE
CEO & Executive Director
COMPENSATION
CN¥4M
AGE
41
TENURE
3.8 yrs

Xianzhen Wen

TITLE
Finance Director & Executive Director
AGE
46
TENURE
1 yrs

Jun Zhao

TITLE
Executive Director
AGE
46

Helen Hsu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥195K
AGE
48

Yan Xu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥195K
AGE
54
TENURE
3.6 yrs

Yang Li

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥195K
AGE
49
TENURE
3.6 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. Nov 18 Sell Ko Yuen Lau Individual 01. Nov 18 01. Nov 18 -126,930,029 HK$0.85 HK$-107,890,610
01. Nov 18 Buy TCL Corporation Company 01. Nov 18 01. Nov 18 70,588,235 HK$0.85 HK$60,000,047
31. Oct 18 Buy TCL Corporation Company 31. Oct 18 31. Oct 18 5,496,000 HK$0.69 HK$3,809,841
26. Oct 18 Buy TCL Corporation Company 26. Oct 18 26. Oct 18 1,000,000 HK$0.62 HK$616,599
30. Oct 18 Buy TCL Corporation Company 30. Oct 18 30. Oct 18 2,000,000 HK$0.66 HK$1,311,403
29. Oct 18 Buy TCL Corporation Company 29. Oct 18 29. Oct 18 1,496,000 HK$0.64 HK$953,403
21. Jun 18 Buy TCL Corporation Company 21. Jun 18 21. Jun 18 296,000 HK$0.70 HK$207,674
22. Jun 18 Buy TCL Corporation Company 22. Jun 18 22. Jun 18 296,000 HK$0.73 HK$215,991
19. Jun 18 Buy TCL Corporation Company 19. Jun 18 19. Jun 18 296,000 HK$0.70 HK$207,201
15. Jun 18 Buy TCL Corporation Company 15. Jun 18 15. Jun 18 1,000,000 HK$0.74 HK$740,001
14. Jun 18 Buy TCL Corporation Company 14. Jun 18 14. Jun 18 296,000 HK$0.79 HK$233,841
13. Jun 18 Buy TCL Corporation Company 13. Jun 18 13. Jun 18 296,000 HK$0.81 HK$239,760
11. Jun 18 Buy TCL Corporation Company 08. Jun 18 08. Jun 18 296,000 HK$0.75 HK$220,638
11. Jun 18 Buy TCL Corporation Company 11. Jun 18 11. Jun 18 296,000 HK$0.83 HK$246,480
12. Jun 18 Buy TCL Corporation Company 12. Jun 18 12. Jun 18 296,000 HK$0.82 HK$242,721
X
Management checks
We assess China Display Optoelectronics Technology 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. China Display Optoelectronics Technology 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.

News

Simply Wall St News

Is China Display Optoelectronics Technology Holdings Limited's (HKG:334) 5.5% ROE Worse Than Average?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of China Display Optoelectronics Technology Holdings Limited (HKG:334). … Over the last twelve months China Display Optoelectronics Technology Holdings has recorded a ROE of 5.5%. … See our latest analysis for China Display Optoelectronics Technology Holdings?

Simply Wall St -

China Display Optoelectronics Technology Holdings Limited (HKG:334): What Are Investors Earning On Their Capital?

and want a simplistic look at the return on China Display Optoelectronics Technology Holdings Limited (HKG:334) stock. … China Display Optoelectronics Technology Holdings stock represents an ownership share in the company. … Therefore, looking at how efficiently China Display Optoelectronics Technology Holdings is able to use capital to create earnings will help us understand your potential return.

Simply Wall St -

One Thing To Consider Before Buying China Display Optoelectronics Technology Holdings Limited (HKG:334)

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta can be a useful tool to understand how much a stock is influenced by 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 -

When Should You Buy China Display Optoelectronics Technology Holdings Limited (HKG:334)?

China Display Optoelectronics Technology Holdings Limited (HKG:334), a tech company based in China,. … A question to answer is whether China Display Optoelectronics Technology Holdings's current trading price of HK$0.60 reflective of the actual value of the? … Let’s take a look at China Display Optoelectronics Technology Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Should You Buy China Display Optoelectronics Technology Holdings Limited (HKG:334) When Insiders Do?

China Display Optoelectronics Technology Holdings Limited, an investment holding company, engages in the research, development, manufacture, distribution, and sale of liquid crystal display modules for mobile phones and tablets in Hong Kong, China, South Korea, and Taiwan. … China Display Optoelectronics Technology Holdings's insiders have invested. … Generally, insiders buying more shares in their own firm sends a bullish signal

Simply Wall St -

How Does China Display Optoelectronics Technology Holdings Limited (HKG:334) Fare As A Dividend Stock?

China Display Optoelectronics Technology Holdings Limited (HKG:334) has returned an average dividend yield of 3.00% annually to shareholders. … Does China Display Optoelectronics Technology Holdings tick all the boxes of a great dividend stock? … View out our latest analysis for China Display Optoelectronics Technology Holdings

Simply Wall St -

Is China Display Optoelectronics Technology Holdings Limited (HKG:334) A Sell At Its Current PE Ratio?

334's current PE is 10.03x based on past earnings,. … But should this fair multiple be the final verdict of 334’s fair valuation. … In this article, I am going to take you through some key things to consider in order to identify which multiple is the most relevant for

Simply Wall St -

What Makes China Display Optoelectronics Technology Holdings Limited (HKG:334) An Attractive Investment?

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on China Display Optoelectronics Technology Holdings Limited (HKG:334) due to its excellent fundamentals in more than one area.

Simply Wall St -

Read This Before Buying China Display Optoelectronics Technology Holdings Limited (HGK:334) For Its Upcoming HK$00.040 Dividend

Investors who want to cash in on China Display Optoelectronics Technology Holdings Limited's (HGK:334) upcoming dividend of CN¥0.040 per share have only 3 days left to buy the shares before its ex-dividend date, 12 June 2018, in time for dividends payable on the 27 July 2018. … Is this future income a persuasive enough catalyst for investors to think about China Display Optoelectronics Technology Holdings as an investment today? … See our latest analysis for China Display Optoelectronics Technology Holdings?

Simply Wall St -

Best SEHK Growth Stocks

China Display Optoelectronics Technology Holdings Limited (SEHK:334) China Display Optoelectronics Technology Holdings Limited, an investment holding company, engages in the research, development, manufacture, distribution, and sale of liquid crystal display modules for mobile phones and tablets in Hong Kong, China, and South Korea. … SEHK:334 Future Profit Apr 23rd 18 Country Garden Holdings Company Limited (SEHK:2007) Country Garden Holdings Company Limited, an investment holding company, operates as a real estate enterprise in the People’s Republic of China and internationally. … SEHK:2007 Future Profit Apr 23rd 18 Agile Group Holdings Limited (SEHK:3383) Agile Group Holdings Limited, an investment holding company, engages in the property development, property management, hotel operation, property investment, environmental protection, and other businesses in the People’s Republic of China.

Simply Wall St -

Company Info

Description

China Display Optoelectronics Technology Holdings Limited, an investment holding company, engages in the research, development, manufacture, distribution, and sale of liquid crystal display modules for mobile phones and tablets in Hong Kong, China, South Korea, and Taiwan. It is also involved in the development and sale of software, and provision of technical consultancy services. The company was formerly known as TCL Display Technology Holdings Limited and changed its name to China Display Optoelectronics Technology Holdings Limited in January 2017. The company was founded in 2004 and is headquartered in HuiZhou, the People’s Republic of China. As of April 27, 2017, China Display Optoelectronics Technology Holdings Limited operates as a subsidiary of Shenzhen China Star Optoelectronics Technology Co., Ltd.

Details
Name: China Display Optoelectronics Technology Holdings Limited
334
Exchange: SEHK
Founded: 2004
HK$2,128,534,183
2,086,798,219
Website: http://www.tcldisplay.com
Address: China Display Optoelectronics Technology Holdings Limited
No.23, ZhongKai High-Tech District,
HuiZhou,
Guangdong Province, 516006,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 334 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 25. Jun 2015
DB PJJ1 Ordinary Shares Deutsche Boerse AG DE EUR 25. Jun 2015
Number of employees
Current staff
Staff numbers
2,693
China Display Optoelectronics Technology Holdings employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 12:34
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/03/20
Last earnings filing: 2019/03/19
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.