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Apex Ace Holding

SEHK:6036
Snowflake Description

Good value with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
6036
SEHK
HK$250M
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

Apex Ace Holding Limited, an investment holding company, sells electronic components in Hong Kong, the People’s Republic of China, and internationally. The last earnings update was 31 days ago. More info.


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  • Apex Ace Holding has significant price volatility in the past 3 months.
6036 Share Price and Events
7 Day Returns
-1.9%
SEHK:6036
-9.8%
HK Electronic
-4.1%
HK Market
1 Year Returns
-43.5%
SEHK:6036
-45.6%
HK Electronic
-17.2%
HK Market
6036 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Apex Ace Holding (6036) -1.9% -5.5% -20% -43.5% - -
HK Electronic -9.8% -23.2% -24.7% -45.6% -2.5% 13.1%
HK Market -4.1% -10.7% -8.4% -17.2% 20% 5.5%
1 Year Return vs Industry and Market
  • 6036 outperformed the Electronic industry which returned -45.6% over the past year.
  • 6036 underperformed the Market in Hong Kong which returned -17.2% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Apex Ace Holding 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 Apex Ace Holding 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 Apex Ace Holding.

SEHK:6036 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 14.3%
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:6036
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 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.041 (1 + (1- 25%) (156.51%))
1.846
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.846 * 6.65%)
14.28%

Discounted Cash Flow Calculation for SEHK:6036 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Apex Ace Holding 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:6036 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 14.28%)
2019 174.72 Est @ 51.33% 152.90
2020 238.55 Est @ 36.53% 182.67
2021 300.99 Est @ 26.17% 201.69
2022 357.95 Est @ 18.92% 209.88
2023 407.51 Est @ 13.85% 209.09
2024 449.46 Est @ 10.29% 201.80
2025 484.54 Est @ 7.81% 190.38
2026 513.93 Est @ 6.07% 176.70
2027 538.84 Est @ 4.85% 162.11
2028 560.36 Est @ 3.99% 147.53
Present value of next 10 years cash flows HK$1,834.75
SEHK:6036 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$560.36 × (1 + 2%) ÷ (14.28% – 2%)
HK$4,656.76
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$4,656.76 ÷ (1 + 14.28%)10
HK$1,225.99
SEHK:6036 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$1,834.75 + HK$1,225.99
HK$3,060.73
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$3,060.73 / 1,000.00
HK$3.06
SEHK:6036 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$3.06
Current discount Discount to share price of HK$0.26
= -1 x (HK$0.26 - HK$3.06) / HK$3.06
91.5%

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

Current Discount
Amount off the current price Apex Ace Holding is available for.
Intrinsic value
>50%
Share price is HK$0.26 vs Future cash flow value of HK$3.06
Current Discount Checks
For Apex Ace Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Apex Ace Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Apex Ace Holding'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 Apex Ace Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Apex Ace Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:6036 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.02
SEHK:6036 Share Price ** SEHK (2019-05-24) in HKD HK$0.26
Hong Kong Electronic Industry PE Ratio Median Figure of 59 Publicly-Listed Electronic Companies 10.92x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 10.96x

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

** Primary Listing of Apex Ace Holding.

SEHK:6036 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:6036 Share Price ÷ EPS (both in HKD)

= 0.26 ÷ 0.02

10.92x

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

  • Apex Ace Holding is overvalued based on earnings compared to the HK Electronic industry average.
  • Apex Ace Holding is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Apex Ace Holding's expected growth come at a high price?
Raw Data
SEHK:6036 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
8.7%per year
Hong Kong Electronic Industry PEG Ratio Median Figure of 13 Publicly-Listed Electronic Companies 0.46x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.77x

*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 Apex Ace Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Apex Ace Holding's assets?
Raw Data
SEHK:6036 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$0.31
SEHK:6036 Share Price * SEHK (2019-05-24) in HKD HK$0.26
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 0.94x
SEHK:6036 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:6036 Share Price ÷ Book Value per Share (both in HKD)

= 0.26 ÷ 0.31

0.85x

* Primary Listing of Apex Ace Holding.

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

  • Apex Ace Holding is good value based on assets compared to the HK Electronic industry average.
X
Value checks
We assess Apex Ace Holding'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. Apex Ace Holding has a total score of 4/6, 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 Apex Ace Holding expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Apex Ace Holding, 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
8.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Apex Ace Holding expected to grow at an attractive rate?
  • Apex Ace Holding's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Apex Ace Holding's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare Apex Ace Holding's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:6036 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:6036 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 8.7%
Hong Kong Electronic Industry Earnings Growth Rate Market Cap Weighted Average 18.5%
Hong Kong Electronic Industry Revenue Growth Rate Market Cap Weighted Average 12.7%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.5%

*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:6036 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:6036 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 3,718 140 23
2018-09-30 3,770 27 32
2018-06-30 3,667 -200 41
2018-03-31 3,253 -197 38
2017-12-31 2,840 -193 35
2017-09-30 2,556 -245 40
2016-12-31 1,702 -71 40

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Apex Ace Holding's earnings are expected to grow by 8.7% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Apex Ace Holding 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:6036 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Apex Ace Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:6036 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.02
2018-09-30 0.03
2018-06-30 0.05
2018-03-31 0.05
2017-12-31 0.05
2017-09-30 5.28
2016-12-31 0.05

*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 Apex Ace Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Apex Ace Holding'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.
Apex Ace Holding has a total score of 1/6, 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 Apex Ace Holding 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 Apex Ace Holding'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.
  • Apex Ace Holding's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Apex Ace Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Apex Ace Holding's 1-year earnings growth is negative, it can't be compared to the HK Electronic industry average.
Earnings and Revenue History
Apex Ace Holding'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 Apex Ace Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:6036 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,717.61 22.61 123.73
2018-09-30 3,769.74 31.92 115.95
2018-06-30 3,666.67 40.88 102.53
2018-03-31 3,253.49 37.93 89.60
2017-12-31 2,840.31 34.99 76.68
2017-09-30 2,555.62 39.58 64.73
2016-12-31 1,702.32 39.74 39.08
2015-12-31 1,121.21 24.45 26.49
2014-12-31 780.39 11.30 23.50

*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.
  • Apex Ace Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Apex Ace Holding used its assets less efficiently than the HK Electronic industry average last year based on Return on Assets.
  • Apex Ace Holding's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Apex Ace Holding'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.
Apex Ace Holding has a total score of 1/6, 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 Apex Ace Holding'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 Apex Ace Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Apex Ace Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Apex Ace Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Apex Ace Holding'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 2.2x 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 Apex Ace Holding Company Filings, last reported 4 months ago.

SEHK:6036 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 329.73 391.27 182.64
2018-09-30 329.73 391.27 182.64
2018-06-30 323.77 592.81 88.31
2018-03-31 323.77 592.81 88.31
2017-12-31 200.33 489.29 66.30
2017-09-30 188.65 525.89 66.44
2016-12-31 152.17 265.24 55.97
2015-12-31 107.31 132.76 16.13
2014-12-31 87.93 52.84 17.52
  • Apex Ace Holding's level of debt (118.7%) compared to net worth is high (greater than 40%).
  • Unable to establish if Apex Ace Holding's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (35.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.6x coverage).
X
Financial health checks
We assess Apex Ace Holding'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. Apex Ace Holding 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 Apex Ace Holding'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
2.31%
Current annual income from Apex Ace Holding dividends.
If you bought HK$2,000 of Apex Ace Holding shares you are expected to receive HK$46 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?
  • Apex Ace Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.1%).
  • Apex Ace Holding's dividend is below the markets top 25% of dividend payers in Hong Kong (5.84%).
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:6036 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 3.2%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 967 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:6036 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-23 0.006 2.180

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

  • It is too early to tell whether Apex Ace Holding has stable dividend payments.
  • Apex Ace Holding only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Apex Ace Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4x 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 Apex Ace Holding'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 Apex Ace Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Apex Ace Holding has a total score of 2/6, see the detailed checks below.


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

Management

 What is the CEO of Apex Ace Holding'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
Bing Kwong Lee
COMPENSATION HK$1,774,000
AGE 63
CEO Bio

Mr. Bing Kwong Lee serves as the chief executive officer of Group and the chairman of the Board of Apex Ace Holding Ltd. He has been executive Director since July 4, 2012. He is the founder of the Group and the Controlling Shareholder. Mr. Lee established Nicegoal Investments in 1987 AVT International in 1992. Mr. Lee acted as sales engineer and marketing engineer in the sales and marketing department of Motorola Semiconductors Hong Kong Limited during the period from 1981 and 1985. Mr. Lee is the director of Best Sheen Limited. Mr. Lee obtained the bachelor’s degree of applied science from the University of Toronto, Canada in 1980.

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

Average tenure and age of the Apex Ace Holding management team in years:

0.8
Average Tenure
55
Average Age
  • The average tenure for the Apex Ace Holding management team is less than 2 years, this suggests a new team.
Management Team

Bing Kwong Lee

TITLE
Chairman & CEO
COMPENSATION
HK$2M
AGE
63

Yuen Kin Lo

TITLE
Executive Director
COMPENSATION
HK$252K
AGE
55

Yuen Ting Leung

TITLE
Financial Controller
AGE
47
TENURE
7 yrs

CH Lee

TITLE
Deputy Chief Executive Officer
AGE
26

Yuen Lai Lo

TITLE
Executive Director
AGE
63
TENURE
0.2 yrs

Seaman Kwok

TITLE
Company Secretary & Authorized Representative
AGE
59
TENURE
0.8 yrs

Yuen Ho

TITLE
Financial Controller
AGE
38
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Apex Ace Holding board of directors in years:

1.3
Average Tenure
59
Average Age
  • The average tenure for the Apex Ace Holding board of directors is less than 3 years, this suggests a new board.
Board of Directors

Bing Kwong Lee

TITLE
Chairman & CEO
COMPENSATION
HK$2M
AGE
63

Yuen Kin Lo

TITLE
Executive Director
COMPENSATION
HK$252K
AGE
55
TENURE
5.3 yrs

Yuen Lai Lo

TITLE
Executive Director
AGE
63
TENURE
0.2 yrs

Siu Kui Cheung

TITLE
Independent Non-Executive Director
AGE
68
TENURE
1.3 yrs

Kwok Man Yim

TITLE
Independent Non-Executive Director
AGE
49
TENURE
1.3 yrs

Terence Chow

TITLE
Independent Non-Executive Director
AGE
55
TENURE
1.3 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 Apex Ace Holding'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. Apex Ace Holding 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

Those Who Purchased Apex Ace Holding (HKG:6036) Shares A Year Ago Have A 23% Loss To Show For It

This week we saw the Apex Ace Holding Limited (HKG:6036) share price climb by 11%. … Check out our latest analysis for Apex Ace Holding In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … Unfortunately Apex Ace Holding reported an EPS drop of 49% for the last year.

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Does Apex Ace Holding Limited's (HKG:6036) P/E Ratio Signal A Buying Opportunity?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Apex Ace Holding has a price to earnings ratio of 11.55, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

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Why Apex Ace Holding Limited’s (HKG:6036) Return On Capital Employed Is Impressive

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

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Why Apex Ace Holding Limited (HKG:6036) Looks Like A Quality Company

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each HK$1 of shareholders' equity it has, the company made HK$0.16 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Can We See Significant Insider Ownership On The Apex Ace Holding Limited (HKG:6036) Share Register?

The big shareholder groups in Apex Ace Holding Limited (HKG:6036) have power over the company. … Apex Ace Holding is a smaller company with a market capitalization of HK$275m, so it may still be flying under the radar of many institutional investors. … View our latest analysis for Apex Ace Holding

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Is Apex Ace Holding Limited’s (HKG:6036) 23% ROCE Any Good?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

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Should You Be Impressed By Apex Ace Holding Limited's (HKG:6036) ROE?

Apex Ace Holding has a ROE of 16%, based on the last twelve months. … That means that for every HK$1 worth of shareholders' equity, it generated HK$0.16 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Does Apex Ace Holding Limited's (HKG:6036) PE Ratio Warrant A Buy?

I am writing today to help inform people who are new to the stock market. … and want to learn about the link between company’s fundamentals and stock market performance. … While 6036 might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions.

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What Should Investors Know About Apex Ace Holding Limited's (HKG:6036) Return On Capital?

and want a simplistic look at the return on Apex Ace Holding Limited (HKG:6036) stock. … To understand Apex Ace Holding’s capital returns we will look at a useful metric called return on capital employed. … This will tell us if the company is growing your capital and placing you in good stead to sell your shares at a profit

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Are Apex Ace Holding Limited's (HKG:6036) Interest Costs Too High?

Investors are always looking for growth in small-cap stocks like Apex Ace Holding Limited (HKG:6036), with a market cap of HK$485.00m. … However, an important fact which most ignore is: how financially healthy is the business?

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Company Info

Description

Apex Ace Holding Limited, an investment holding company, sells electronic components in Hong Kong, the People’s Republic of China, and internationally. The company supplies digital storage products that comprise memory products, including integrated circuits, such as mobile phones, set-top boxes, smart TVs, and wearables; and data and cloud products. It also provides general components comprising switches, connectors, passive components, main chips, sensors, power semiconductors, and analog to digital converters for use in the mobile and multimedia devices, as well as offers technical support services. In addition, the company sells storage systems; and provides related supporting services. The company was founded in 2005 and is headquartered in Kowloon, Hong Kong.

Details
Name: Apex Ace Holding Limited
6036
Exchange: SEHK
Founded: 2005
HK$250,000,000
1,000,000,000
Website: http://www.apexace.com
Address: Apex Ace Holding Limited
Sun Cheong Industrial Building,
1st Floor,
Kowloon,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 6036 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 16. Mar 2018
Number of employees
Current staff
Staff numbers
104
Apex Ace Holding employees.
Industry
Technology Distributors
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 13:06
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/04/23
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.