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AV Concept Holdings

SEHK:595
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
595
SEHK
HK$291M
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

AV Concept Holdings Limited, an investment holding company, engages in the marketing and distribution of electronic components in Hong Kong, Singapore, and South Korea. The last earnings update was 147 days ago. More info.


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  • AV Concept Holdings has significant price volatility in the past 3 months.
595 Share Price and Events
7 Day Returns
-3%
SEHK:595
-7.7%
HK Electronic
-2.2%
HK Market
1 Year Returns
-32.6%
SEHK:595
-42%
HK Electronic
-15.4%
HK Market
595 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AV Concept Holdings (595) -3% -11.1% -17.9% -32.6% 1.1% -46.7%
HK Electronic -7.7% -20.1% -18.2% -42% 1.1% 18.2%
HK Market -2.2% -9.5% -6% -15.4% 22% 6.7%
1 Year Return vs Industry and Market
  • 595 outperformed the Electronic industry which returned -42% over the past year.
  • 595 underperformed the Market in Hong Kong which returned -15.4% over the past year.
Price Volatility
595
Industry
5yr Volatility vs Market

595 Value

 Is AV Concept 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 AV Concept 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 AV Concept Holdings.

SEHK:595 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 10.5%
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:595
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))
= 1.045 (1 + (1- 25%) (47.17%))
1.278
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.28
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.278 * 6.65%)
10.5%

Discounted Cash Flow Calculation for SEHK:595 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for AV Concept 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:595 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 10.5%)
2019 3.36 Est @ -74.27% 3.04
2020 1.63 Est @ -51.39% 1.34
2021 1.06 Est @ -35.37% 0.78
2022 0.80 Est @ -24.16% 0.54
2023 0.67 Est @ -16.31% 0.41
2024 0.60 Est @ -10.82% 0.33
2025 0.56 Est @ -6.97% 0.28
2026 0.53 Est @ -4.28% 0.24
2027 0.52 Est @ -2.39% 0.21
2028 0.51 Est @ -1.07% 0.19
Present value of next 10 years cash flows HK$7.35
SEHK:595 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$0.51 × (1 + 2%) ÷ (10.5% – 2%)
HK$6.17
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$6.17 ÷ (1 + 10.5%)10
HK$2.27
SEHK:595 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$7.35 + HK$2.27
HK$9.62
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$9.62 / 908.66
HK$0.01
SEHK:595 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.01
Current discount Discount to share price of HK$0.32
= -1 x (HK$0.32 - HK$0.01) / HK$0.01
-2921.4%

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

  • The current share price of AV Concept 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 AV Concept Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AV Concept Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:595 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in HKD HK$0.17
SEHK:595 Share Price ** SEHK (2019-05-22) in HKD HK$0.32
Hong Kong Electronic Industry PE Ratio Median Figure of 59 Publicly-Listed Electronic Companies 11.34x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 11.07x

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

** Primary Listing of AV Concept Holdings.

SEHK:595 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:595 Share Price ÷ EPS (both in HKD)

= 0.32 ÷ 0.17

1.85x

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

  • AV Concept Holdings is good value based on earnings compared to the HK Electronic industry average.
  • AV Concept Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does AV Concept Holdings's expected growth come at a high price?
Raw Data
SEHK:595 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.85x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
1.6%per year
Hong Kong Electronic Industry PEG Ratio Median Figure of 13 Publicly-Listed Electronic Companies 0.47x
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 AV Concept Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on AV Concept Holdings's assets?
Raw Data
SEHK:595 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in HKD HK$1.22
SEHK:595 Share Price * SEHK (2019-05-22) in HKD HK$0.32
Hong Kong Electronic Industry PB Ratio Median Figure of 83 Publicly-Listed Electronic Companies 1.13x
Hong Kong Market PB Ratio Median Figure of 2,157 Publicly-Listed Companies 0.97x
SEHK:595 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:595 Share Price ÷ Book Value per Share (both in HKD)

= 0.32 ÷ 1.22

0.26x

* Primary Listing of AV Concept Holdings.

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

  • AV Concept Holdings is good value based on assets compared to the HK Electronic industry average.
X
Value checks
We assess AV Concept 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. AV Concept 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.

595 Future Performance

 How is AV Concept Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover AV Concept 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
1.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AV Concept Holdings expected to grow at an attractive rate?
  • AV Concept Holdings's earnings growth is positive but not above the low risk savings rate of 2%.
Growth vs Market Checks
  • AV Concept Holdings's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare AV Concept Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:595 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:595 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 1.6%
Hong Kong Electronic Industry Earnings Growth Rate Market Cap Weighted Average 18.3%
Hong Kong Electronic Industry Revenue Growth Rate Market Cap Weighted Average 12.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*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:595 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 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:595 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-09-30 1,795 18 159
2018-06-30 1,729 94 161
2018-03-31 1,663 169 163
2017-12-31 1,636 59 192
2017-09-30 1,609 -52 222
2017-06-30 1,476 7 249
2017-03-31 1,342 65 276
2016-12-31 1,171 144 196
2016-09-30 1,000 223 116
2016-06-30 1,018 194 59
2016-03-31 1,037 166 2
2015-12-31 1,250 -38

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AV Concept Holdings's earnings are expected to grow by 1.6% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if AV Concept 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:595 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from AV Concept Holdings Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:595 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-09-30 0.17
2018-06-30 0.17
2018-03-31 0.18
2017-12-31 0.21
2017-09-30 0.24
2017-06-30 0.27
2017-03-31 0.30
2016-12-31 0.21
2016-09-30 0.12
2016-06-30 0.06
2016-03-31 0.00
2015-12-31 -0.04

*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 AV Concept Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess AV Concept 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.
AV Concept 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.

595 Past Performance

  How has AV Concept 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 AV Concept 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.
  • AV Concept Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • AV Concept Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • AV Concept Holdings's 1-year earnings growth is negative, it can't be compared to the HK Electronic industry average.
Earnings and Revenue History
AV Concept 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 AV Concept Holdings Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:595 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 1,794.94 158.60 102.41
2018-06-30 1,728.91 160.93 99.18
2018-03-31 1,662.88 163.27 95.95
2017-12-31 1,636.14 192.44 86.56
2017-09-30 1,609.40 221.61 77.17
2017-06-30 1,475.90 248.87 75.49
2017-03-31 1,342.40 276.12 73.81
2016-12-31 1,171.01 195.94 76.69
2016-09-30 999.62 115.77 79.57
2016-06-30 1,018.32 58.96 89.39
2016-03-31 1,037.02 2.15 99.21
2015-12-31 1,249.67 -38.27 117.13
2015-09-30 1,462.33 -78.69 128.72
2015-06-30 1,710.01 -64.14 131.11
2015-03-31 1,957.69 -49.58 133.51
2014-09-30 2,466.50 64.03 138.47
2014-06-30 2,608.20 60.21 138.33
2014-03-31 2,749.90 56.40 138.20
2013-09-30 2,411.47 61.02 75.43
2013-06-30 2,372.97 55.18 119.60
2013-03-31 2,334.48 49.34 163.76
2012-12-31 2,639.64 12.42 294.64
2012-09-30 2,815.26 15.61 294.16
2012-06-30 3,090.90 9.01 282.93

*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.
  • AV Concept Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • AV Concept Holdings used its assets more efficiently than the HK Electronic industry average last year based on Return on Assets.
  • It is difficult to establish if AV Concept Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess AV Concept 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.
AV Concept 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.

595 Health

 How is AV Concept 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 AV Concept Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AV Concept Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • AV Concept Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of AV Concept 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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.5x 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 AV Concept Holdings Company Filings, last reported 7 months ago.

SEHK:595 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 1,121.06 137.16 223.78
2018-06-30 1,121.06 137.16 223.78
2018-03-31 1,086.73 136.65 354.01
2017-12-31 1,086.73 136.65 354.01
2017-09-30 1,092.46 119.76 396.87
2017-06-30 1,092.46 119.76 396.87
2017-03-31 1,078.29 118.41 495.13
2016-12-31 1,078.29 118.41 495.13
2016-09-30 778.14 131.68 202.47
2016-06-30 778.14 131.68 202.47
2016-03-31 657.56 137.20 151.14
2015-12-31 657.56 137.20 151.14
2015-09-30 660.82 189.75 131.50
2015-06-30 660.82 189.75 131.50
2015-03-31 654.17 350.76 250.15
2014-09-30 673.84 350.25 250.48
2014-06-30 673.84 350.25 250.48
2014-03-31 668.65 511.43 378.32
2013-09-30 709.00 520.95 212.78
2013-06-30 709.00 520.95 212.78
2013-03-31 647.23 515.06 259.85
2012-12-31 647.23 515.06 259.85
2012-09-30 645.53 542.01 184.78
2012-06-30 645.53 542.01 184.78
  • AV Concept Holdings's level of debt (12.2%) 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 (73.5% vs 12.2% today).
  • Debt is not well covered by operating cash flow (13.5%, less than 20% of total debt).
  • Unable to confirm if the interest payments on AV Concept Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess AV Concept 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. AV Concept 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.

595 Dividends

 What is AV Concept 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
6.25%
Current annual income from AV Concept Holdings dividends.
If you bought HK$2,000 of AV Concept Holdings shares you are expected to receive HK$125 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?
  • AV Concept Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • AV Concept Holdings's dividend is above the markets top 25% of dividend payers in Hong Kong (5.77%).
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:595 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 3.7%
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 5.8%

Industry and Market average data is calculated daily.

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

SEHK:595 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2018-07-24 0.020 5.703
2018-06-27 0.020 4.852
2017-07-28 0.017 3.058
2014-12-12 0.000 0.000
2014-11-27 0.000 0.000
2014-07-15 0.000 0.000
2014-06-27 0.000 0.000
2013-08-16 0.008 1.303
2012-12-06 0.000 0.000
2012-11-30 0.000 0.000
2012-06-20 0.000 0.000
2011-11-22 0.042 7.774
2011-06-28 0.058 8.359
2010-11-18 0.058 4.527
2010-06-21 0.067 5.890
2009-11-18 0.050 5.849
2009-07-22 0.000 0.000

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of AV Concept Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (8.6x 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 AV Concept 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 AV Concept Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AV Concept Holdings 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.

595 Management

 What is the CEO of AV Concept 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
Yuk So
COMPENSATION HK$12,387,000
AGE 68
TENURE AS CEO 1.4 years
CEO Bio

Dr. Hon. Yuk Kwan So founded AV Concept Holdings Ltd and serves as Chairman of the Board and has been its Chief Executive Officer since December 26, 2017. Dr. Hon. So is responsible for the formulation of the AV Concept's overall strategic planning and business development. Dr. Hon. So has over 28 year's experience in the electronics industry. Presently, he is the Vice Chairman of both of the Executive Committee and the External Affairs Sub-Committee of The Hong Kong Electronic Industries Association. He is also a member of the Electronics Advisory Committee of Hong Kong Trade Development Council, a member of the technology panel of Hong Kong Industrial Technology Centre Corporation, a committee member of the Hong Kong – Shenzhen Electronics Joint Committee and a member of Advisory Committee (Industry) of Cooperative Education Centre of City University of Hong Kong. Dr. Hon. So holds a Master Degree in Business Administration from the University of East Asia and he is also a Fellow Member of the British Institute of Management.

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

Average tenure and age of the AV Concept Holdings management team in years:

4.9
Average Tenure
47.5
Average Age
  • The tenure for the AV Concept Holdings management team is about average.
Management Team

Yuk So

TITLE
Founder
COMPENSATION
HK$12M
AGE
68
TENURE
1.4 yrs

Kevin So

TITLE
COO & Executive Director
COMPENSATION
HK$4M
AGE
32
TENURE
6.1 yrs

Sunny So

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
30

Jun Hyog Lee

TITLE
President
AGE
55

Chi Hang Chan

TITLE
CFO & Company Secretary
AGE
41
TENURE
3.8 yrs

Joon Choi

TITLE
President & CEO of AVP Electronics Limited
AGE
54
TENURE
7.3 yrs
Board of Directors Tenure

Average tenure and age of the AV Concept Holdings board of directors in years:

14.7
Average Tenure
54.5
Average Age
  • The average tenure for the AV Concept Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Yuk So

TITLE
Founder
COMPENSATION
HK$12M
AGE
68

Kevin So

TITLE
COO & Executive Director
COMPENSATION
HK$4M
AGE
32
TENURE
3.5 yrs

Sunny So

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
30
TENURE
3.5 yrs

Ming Wah Lui

TITLE
Independent Non-Executive Director
COMPENSATION
HK$100K
AGE
80
TENURE
23.3 yrs

Charles Chapman

TITLE
Independent Non-Executive Director
COMPENSATION
HK$100K
AGE
69
TENURE
19.3 yrs

Ka Wong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$100K
AGE
41
TENURE
14.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess AV Concept 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. AV Concept 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.

595 News

Simply Wall St News

Is AV Concept Holdings Limited's (HKG:595) P/E Ratio Really That Good?

We'll look at AV Concept Holdings Limited's (HKG:595) P/E ratio and reflect on what it tells us about the company's share price. … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for AV Concept Holdings: P/E of 1.91 = HK$0.33 ÷ HK$0.17 (Based on the year to September 2018.) Is A High Price-to-Earnings Ratio Good? … SEHK:595 Price Estimation Relative to Market, May 15th 2019 Its relatively low P/E ratio indicates that AV Concept Holdings shareholders think it will struggle to do as well as other companies in its industry classification.

Simply Wall St -

What To Know Before Buying AV Concept Holdings Limited (HKG:595) For Its Dividend

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, AV Concept Holdings Limited (HKG:595) has paid dividends to shareholders, and these days it yields 5.5%. … Let's take a look at AV Concept Holdings in more detail.

Simply Wall St -

Introducing AV Concept Holdings (HKG:595), The Stock That Slid 52% In The Last Five Years

AV Concept Holdings Limited (HKG:595) shareholders should be happy to see the share price up 17% in the last month. … After all, the share price is down 52% in that time, significantly under-performing the market. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

Simply Wall St -

What Percentage Of AV Concept Holdings Limited (HKG:595) Shares Do Insiders Own?

The big shareholder groups in AV Concept Holdings Limited (HKG:595) have power over the company. … AV Concept Holdings is not a large company by global standards. … Check out our latest analysis for AV Concept Holdings

Simply Wall St -

Before You Buy AV Concept Holdings Limited (HKG:595), Consider Its Volatility

Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful. … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand AV Concept Holdings Limited (HKG:595)

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll show how you can use AV Concept Holdings Limited's (HKG:595) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Do Insiders Own Lots Of Shares In AV Concept Holdings Limited (HKG:595)?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … AV Concept Holdings is a smaller company with a market capitalization of HK$318m, so it may still be flying under the radar of many institutional investors. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

How Does AV Concept Holdings Limited (HKG:595) Affect Your Portfolio Returns?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Only 2 Days Left To AV Concept Holdings Limited (HKG:595)’s Ex-Dividend Date, Is It Worth Buying?

Investors who want to cash in on AV Concept Holdings Limited's (HKG:595) upcoming dividend of HK$0.02 per share have only 2 days left to buy the shares before its ex-dividend date, 30 August 2018, in time for dividends payable on the 18 September 2018. … Well, keep on reading because today, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … 5 checks you should do on a dividend stock?

Simply Wall St -

What Should You Know About AV Concept Holdings Limited's (HKG:595) Return On Capital?

and want a simplistic look at the return on AV Concept Holdings Limited (HKG:595) stock. … Therefore, looking at how efficiently AV Concept Holdings is able to use capital to create earnings will help us understand your potential return. … Investors use many different metrics but the analysis below focuses on return on capital employed (ROCE).

Simply Wall St -

595 Company Info

Description

AV Concept Holdings Limited, an investment holding company, engages in the marketing and distribution of electronic components in Hong Kong, Singapore, and South Korea. It operates through four segments: Semiconductor Distribution, Consumer Electronic Product, Venture Capital, and Others. The Semiconductor Distribution segment sells and distributes electronic components. The Consumer Electronic Product segment designs, develops, and sells electronic products. The Venture Capital segment provides venture capital investments in listed/unlisted equity and debt investments, as well as in real estate, managed funds, or convertible bonds. The Others segment develops mobile applications and games. The company was founded in 1980 and is headquartered in Kowloon Bay, Hong Kong.

Details
Name: AV Concept Holdings Limited
595
Exchange: SEHK
Founded: 1980
HK$290,772,256
908,663,302
Website: http://www.avconcept.com
Address: AV Concept Holdings Limited
Enterprise Square Three,
6th Floor,
Kowloon Bay,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 595 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 10. Jun 1996
Number of employees
Current staff
Staff numbers
211
AV Concept Holdings employees.
Industry
Technology Distributors
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 12:38
End of day share price update: 2019/05/22 00:00
Last earnings filing: 2018/12/27
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


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.