SEHK:633

Stock Analysis Report

China All Access (Holdings)

Executive Summary

China All Access (Holdings) Limited, an investment holding company, provides communication application solutions and services in the People’s Republic of China.

Risk Analysis

Earnings have declined by -50.76% per year over past 5 years

Debt is not well covered by operating cash flow

Highly volatile share price over past 3 months

Does not have a meaningful market cap (HK$499M)



Snowflake Analysis

Mediocre balance sheet and overvalued.

Share Price & News

How has China All Access (Holdings)'s share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 633's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-5.3%

633

-1.4%

HK Communications

1.6%

HK Market


1 Year Return

-36.4%

633

8.6%

HK Communications

6.0%

HK Market

Return vs Industry: 633 underperformed the Hong Kong Communications industry which returned 10.9% over the past year.

Return vs Market: 633 underperformed the Hong Kong Market which returned 6.4% over the past year.


Shareholder returns

633IndustryMarket
7 Day-5.3%-1.4%1.6%
30 Day12.1%6.6%4.5%
90 Day0%22.5%8.8%
1 Year-36.4%-36.4%11.2%8.6%9.9%6.0%
3 Year-90.2%-91.1%25.0%14.8%27.7%14.7%
5 Year-90.6%-91.9%19.5%2.5%21.7%1.4%

Price Volatility Vs. Market

How volatile is China All Access (Holdings)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is China All Access (Holdings) undervalued compared to its fair value and its price relative to the market?

0.15x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate 633's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate 633's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: 633 is unprofitable, so we can't compare its PE Ratio to the Communications industry average.

PE vs Market: 633 is unprofitable, so we can't compare its PE Ratio to the Hong Kong market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 633's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 633 is good value based on its PB Ratio (0.1x) compared to the HK Communications industry average (1.3x).


Next Steps

Future Growth

How is China All Access (Holdings) forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

18.1%

Forecasted Tech industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as China All Access (Holdings) has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has China All Access (Holdings) performed over the past 5 years?

-50.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 633 is currently unprofitable.

Growing Profit Margin: 633 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 633 is unprofitable, and losses have increased over the past 5 years at a rate of -50.8% per year.

Accelerating Growth: Unable to compare 633's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 633 is unprofitable, making it difficult to compare its past year earnings growth to the Communications industry (-5.7%).


Return on Equity

High ROE: 633 has a negative Return on Equity (-29.13%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is China All Access (Holdings)'s financial position?


Financial Position Analysis

Short Term Liabilities: 633's short term assets (CN¥5.1B) exceed its short term liabilities (CN¥3.4B).

Long Term Liabilities: 633's short term assets (CN¥5.1B) exceed its long term liabilities (CN¥235.6M).


Debt to Equity History and Analysis

Debt Level: 633's debt to equity ratio (56.5%) is considered high.

Reducing Debt: 633's debt to equity ratio has reduced from 93% to 56.5% over the past 5 years.

Debt Coverage: 633's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if 633's interest payments on its debt are well covered by EBIT.


Balance Sheet

Inventory Level: 633 has a low level of unsold assets or inventory.

Debt Coverage by Assets: 633's debt is covered by short term assets (assets are 3.2x debt).


Next Steps

Dividend

What is China All Access (Holdings)'s current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%2.2%markettop25%6.0%industryaverage2.7%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 633's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 633's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 633's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 633's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 633 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 633's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

What is the CEO of China All Access (Holdings)'s salary, the management and board of directors tenure and is there insider trading?

11.3yrs

Average management tenure


CEO

Kwok Keung Shao (57yo)

0yrs

Tenure

CN¥2,789,000

Compensation

Mr. Kwok Keung Shao, FCPA, is the Chief Executive Officer of China All Access (Holdings) Limited and has been its Company Secretary since August 09, 2019. Mr. Shao is responsible for the corporate manageme ...


CEO Compensation Analysis

Compensation vs Market: Kwok Keung's total compensation ($USD404.81K) is above average for companies of similar size in the Hong Kong market ($USD228.16K).

Compensation vs Earnings: Kwok Keung's compensation has been consistent with company performance over the past year.


Management Age and Tenure

11.3yrs

Average Tenure

50yo

Average Age

Experienced Management: 633's management team is seasoned and experienced (11.3 years average tenure).


Board Age and Tenure

10.4yrs

Average Tenure

60.5yo

Average Age

Experienced Board: 633's board of directors are seasoned and experienced ( 10.4 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellHK$1,347,24112 Jun 19
Yuen Chan
EntityIndividual
Role
Chairman of the Board
Founder & Executive Chairman
Shares4,470,000
Max PriceHK$0.30
SellHK$5,921,27711 Jun 19
Yuen Chan
EntityIndividual
Role
Chairman of the Board
Founder & Executive Chairman
Shares19,300,000
Max PriceHK$0.31
SellHK$161,14606 Jun 19
Yuen Chan
EntityIndividual
Role
Chairman of the Board
Founder & Executive Chairman
Shares394,000
Max PriceHK$0.41
SellHK$247,05106 Jun 19
Yuen Chan
EntityIndividual
Role
Chairman of the Board
Founder & Executive Chairman
Shares610,000
Max PriceHK$0.41

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Kwok Keung Shao (57yo)

    CEO, Company Secretary & Executive Director

    • Compensation: CN¥2.79m
  • Ping Yu (46yo)

    Head of Satellite Communication Technology Business Department

    • Tenure: 13.4yrs
  • Hai Jun Zhao (48yo)

    Head of Research and Development Department

    • Tenure: 11.3yrs
  • Yuen Chan (63yo)

    Founder & Executive Chairman

    • Compensation: CN¥3.09m
  • Yong Wang (50yo)

    Executive Vice President

    • Tenure: 1.6yrs
  • Munkin Wong

    Deputy Chief Executive Officer

    • Tenure: 4.4yrs

Board Members

  • Kwok Keung Shao (57yo)

    CEO, Company Secretary & Executive Director

    • Compensation: CN¥2.79m
  • Eddy Wong (59yo)

    Independent Non-Executive Director

    • Tenure: 10.4yrs
    • Compensation: CN¥250.00k
  • Tiejun Bao (61yo)

    Vice-Chairman

    • Tenure: 0.9yrs
  • Patrick Lam (61yo)

    Independent Non-Executive Director

    • Tenure: 10.4yrs
    • Compensation: CN¥250.00k
  • Yuen Chan (63yo)

    Founder & Executive Chairman

    • Compensation: CN¥3.09m
  • Sui Kwan Tam (60yo)

    Independent Non-Executive Director

    • Tenure: 0.5yrs

Company Information

China All Access (Holdings) Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: China All Access (Holdings) Limited
  • Ticker: 633
  • Exchange: SEHK
  • Founded: 2007
  • Industry: Communications Equipment
  • Sector: Tech
  • Market Cap: HK$492.433m
  • Shares outstanding: 2.31b
  • Website: https://www.chinaallaccess.com

Number of Employees


Location

  • China All Access (Holdings) Limited
  • 15/F Greenfield Tower
  • Room 1506-08
  • Kowloon
  • Kowloon
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
633SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDSep 2009
C5KDB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 2009

Biography

China All Access (Holdings) Limited, an investment holding company, provides communication application solutions and services in the People’s Republic of China. The company operates through ICT, New Energy, and Investment Activities. The company offers system installation, testing, and software development services, as well as application services for satellite and wireless communication; distributes satellite receivers and equipment; researches and develops, manufactures, and distributes wireless terminals and equipment, including display modules, casings, and keyboards. Its information communication solutions comprise command center solutions, such as All Access platform, a multi-media audio and video command and control system; emergency communication solutions for government and public security departments; and mobile office solutions to access the cloud data base to transmit, review, and control operations. The company’s information communication solutions also include broadband machine-to-machine (M2M) systems that allow to control household appliances and to monitor the interior of property from remote locations; M2M wireless data communication for telemetering, and remote control and adjustment in the field of public utilities, such as social public security, municipal comprehensive management, and others; and call center solutions, including the maintenance of system devices, as well as their operation, development/maintenance/upgrade of application software and personnel training. It is also involved in the research and development, installation, and application of device for photovoltaic plants; investment activities; provision of communication equipment, and supply chain management and cargo agency services; and manufacture of handset screens and shells. The company has a strategic cooperation framework agreement with China Comservice (Hong Kong) Limited. The company was incorporated in 2007 and is headquartered in Kowloon, Hong Kong. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/01/18 12:48
End of Day Share Price2020/01/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.