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Yangtze Optical Fibre And Cable Limited

SEHK:6869
Snowflake Description

Flawless balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
6869
SEHK
HK$32B
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

Yangtze Optical Fibre And Cable Joint Stock Limited Company manufactures and sells optical fiber and cable products in the People’s Republic of China and internationally. The last earnings update was 120 days ago. More info.


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  • Yangtze Optical Fibre And Cable Limited has significant price volatility in the past 3 months.
6869 Share Price and Events
7 Day Returns
14%
SEHK:6869
9.8%
HK Communications
4%
HK Market
1 Year Returns
-8.6%
SEHK:6869
-20.6%
HK Communications
-10.7%
HK Market
6869 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Yangtze Optical Fibre And Cable Limited (6869) 14% 33.8% 42.4% -8.6% 296% -
HK Communications 9.8% 21.8% 23.1% -20.6% 37.6% 3.4%
HK Market 4% 7.9% 10.4% -10.7% 37.6% 16.4%
1 Year Return vs Industry and Market
  • 6869 outperformed the Communications industry which returned -20.6% over the past year.
  • 6869 outperformed the Market in Hong Kong which returned -10.7% over the past year.
Price Volatility
6869
Industry
5yr Volatility vs Market

6869 Value

 Is Yangtze Optical Fibre And Cable Limited 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 Yangtze Optical Fibre And Cable Limited 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    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Yangtze Optical Fibre And Cable Limited.

SEHK:6869 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.7%
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:6869
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 8%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.29
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.289 (1 + (1- 25%) (5.1%))
1.339
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.339 * 8%)
12.71%

Discounted Cash Flow Calculation for SEHK:6869 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Yangtze Optical Fibre And Cable Limited is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:6869 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (CNY, Millions) 1,129.40 626.00 3,193.00 3,710.00 3,175.00
Source Analyst x5 Analyst x3 Analyst x1 Analyst x1 Analyst x1
Present Value
Discounted (@ 12.71%)
1,002.05 492.79 2,230.11 2,299.02 1,745.64
Present value of next 5 years cash flows CN¥7,769.61
SEHK:6869 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= CN¥3,175.00 × (1 + 2%) ÷ (12.71% – 2%)
CN¥30,251.00
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= CN¥30,251.00 ÷ (1 + 12.71%)5
CN¥16,632.27
SEHK:6869 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= CN¥7,769.61 + CN¥16,632.27
CN¥24,401.89
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥24,401.89 / 757.91
CN¥32.2
SEHK:6869 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:6869)
1.169
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥32.2 x 1.169
HK$37.65
Value per share (HKD) From above. HK$37.65
Current discount Discount to share price of HK$29.70
= -1 x (HK$29.70 - HK$37.65) / HK$37.65
21.1%

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

Current Discount
Amount off the current price Yangtze Optical Fibre And Cable Limited is available for.
Intrinsic value
21%
Share price is HK$29.7 vs Future cash flow value of HK$37.65
Current Discount Checks
For Yangtze Optical Fibre And Cable Limited to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Yangtze Optical Fibre And Cable Limited's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Yangtze Optical Fibre And Cable Limited's share price is below the future cash flow value, but not 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 Yangtze Optical Fibre And Cable Limited's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Yangtze Optical Fibre And Cable Limited's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:6869 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in CNY CN¥2.26
SEHK:6869 Share Price ** SEHK (2019-02-22) in HKD HK$29.7
SEHK:6869 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥25.4
Hong Kong Communications Industry PE Ratio Median Figure of 17 Publicly-Listed Communications Companies 13.15x
Hong Kong Market PE Ratio Median Figure of 1,481 Publicly-Listed Companies 10.91x

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

** Primary Listing of Yangtze Optical Fibre And Cable Limited.

SEHK:6869 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:6869 Share Price ÷ EPS (both in CNY)

= 25.4 ÷ 2.26

11.23x

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

  • Yangtze Optical Fibre And Cable Limited is good value based on earnings compared to the HK Communications industry average.
  • Yangtze Optical Fibre And Cable Limited is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Yangtze Optical Fibre And Cable Limited's expected growth come at a high price?
Raw Data
SEHK:6869 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
16.5%per year
Hong Kong Communications Industry PEG Ratio Median Figure of 5 Publicly-Listed Communications Companies 1.03x
Hong Kong Market PEG Ratio Median Figure of 467 Publicly-Listed Companies 0.78x

*Line of best fit is calculated by linear regression .

SEHK:6869 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.23x ÷ 16.5%

0.68x

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

  • Yangtze Optical Fibre And Cable Limited is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Yangtze Optical Fibre And Cable Limited's assets?
Raw Data
SEHK:6869 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in CNY CN¥10.97
SEHK:6869 Share Price * SEHK (2019-02-22) in HKD HK$29.7
SEHK:6869 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥25.4
Hong Kong Communications Industry PB Ratio Median Figure of 26 Publicly-Listed Communications Companies 1x
Hong Kong Market PB Ratio Median Figure of 2,118 Publicly-Listed Companies 0.98x
SEHK:6869 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:6869 Share Price ÷ Book Value per Share (both in CNY)

= 25.4 ÷ 10.97

2.32x

* Primary Listing of Yangtze Optical Fibre And Cable Limited.

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

  • Yangtze Optical Fibre And Cable Limited is overvalued based on assets compared to the HK Communications industry average.
X
Value checks
We assess Yangtze Optical Fibre And Cable Limited'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 Communications 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 Communications industry average (and greater than 0)? (1 check)
  5. Yangtze Optical Fibre And Cable Limited 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.

6869 Future Performance

 How is Yangtze Optical Fibre And Cable Limited expected to perform in the next 1 to 3 years based on estimates from 9 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
16.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Yangtze Optical Fibre And Cable Limited expected to grow at an attractive rate?
  • Yangtze Optical Fibre And Cable Limited's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Yangtze Optical Fibre And Cable Limited's earnings growth is expected to exceed the Hong Kong market average.
  • Yangtze Optical Fibre And Cable Limited's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:6869 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:6869 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 16.5%
SEHK:6869 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 4.7%
Hong Kong Communications Industry Earnings Growth Rate Market Cap Weighted Average 13.1%
Hong Kong Communications Industry Revenue Growth Rate Market Cap Weighted Average 6.3%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 9.8%

*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:6869 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:6869 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 13,440 3,595 3,272 1
2022-12-31 15,970 4,104 3,824 1
2021-12-31 16,035 3,568 3,771 1
2020-12-31 14,581 2,162 2,399 9
2019-12-31 12,877 2,119 1,900 1
2018-12-31 11,720 1,623 1,721 1
SEHK:6869 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-09-30 11,486 1,083 1,575
2018-06-30 11,353 1,191 1,517
2018-03-31 11,009 1,689 1,419
2017-12-31 10,366 1,738 1,268
2017-09-30 9,622 1,228 1,111
2017-06-30 9,079 1,624 923
2017-03-31 8,095 1,161 761
2016-12-31 8,111 1,307 717
2016-09-30 7,735 1,049 669
2016-06-30 7,359 791 621
2016-03-31 7,045 671 596
2015-12-31 6,731 551 571

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Yangtze Optical Fibre And Cable Limited's earnings are expected to grow by 16.5% yearly, however this is not considered high growth (20% yearly).
  • Yangtze Optical Fibre And Cable Limited's revenue is expected to grow by 4.7% 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:6869 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 9 Analyst Estimates (S&P Global) See Below

All data from Yangtze Optical Fibre And Cable Limited Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:6869 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 4.32 4.32 4.32 1.00
2022-12-31 5.05 5.05 5.05 1.00
2021-12-31 4.98 4.98 4.98 1.00
2020-12-31 2.86 3.59 2.60 7.00
2019-12-31 2.56 3.11 2.30 10.00
2018-12-31 2.27 2.38 2.14 9.00
SEHK:6869 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-09-30 2.26
2018-06-30 2.22
2018-03-31 2.09
2017-12-31 1.86
2017-09-30 1.63
2017-06-30 1.35
2017-03-31 1.11
2016-12-31 1.05
2016-09-30 0.99
2016-06-30 0.94
2016-03-31 0.91
2015-12-31 0.89

*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.
  • Yangtze Optical Fibre And Cable Limited is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Yangtze Optical Fibre And Cable Limited'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.
Yangtze Optical Fibre And Cable Limited has a total score of 3/6, 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.

6869 Past Performance

  How has Yangtze Optical Fibre And Cable Limited 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 Yangtze Optical Fibre And Cable Limited's growth in the last year to its industry (Communications).
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.
  • Yangtze Optical Fibre And Cable Limited has delivered over 20% year on year earnings growth in the past 5 years.
  • Yangtze Optical Fibre And Cable Limited's 1-year earnings growth exceeds its 5-year average (41.7% vs 30.9%)
  • Yangtze Optical Fibre And Cable Limited's earnings growth has exceeded the HK Communications industry average in the past year (41.7% vs 28.7%).
Earnings and Revenue History
Yangtze Optical Fibre And Cable Limited'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 Yangtze Optical Fibre And Cable Limited Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:6869 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 11,485.66 1,575.38 1,378.99 54.22
2018-06-30 11,352.70 1,516.51 1,339.13 13.23
2018-03-31 11,008.53 1,419.23 1,266.36
2017-12-31 10,366.08 1,268.35 1,244.54
2017-09-30 9,621.84 1,111.41 863.38 241.74
2017-06-30 9,079.13 923.10 851.66 156.73
2017-03-31 8,095.49 761.03 894.96
2016-12-31 8,111.50 717.09 836.77
2016-09-30 7,735.34 668.80 819.85
2016-06-30 7,359.18 620.50 802.93
2016-03-31 7,045.15 595.61 758.69
2015-12-31 6,731.11 570.72 714.45
2015-09-30 6,411.30 565.60 657.51
2015-06-30 6,091.49 560.48 600.58
2015-03-31 5,884.14 513.41 583.01
2014-12-31 5,676.78 466.34 565.44
2014-09-30 5,571.03 442.17 579.03
2014-06-30 5,465.27 417.99 592.61
2014-03-31 5,145.58 416.52 570.61
2013-12-31 4,825.90 415.04 548.62
2012-12-31 4,777.82 364.79 503.92

*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.
  • Yangtze Optical Fibre And Cable Limited has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Yangtze Optical Fibre And Cable Limited used its assets more efficiently than the HK Communications industry average last year based on Return on Assets.
  • Yangtze Optical Fibre And Cable Limited has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Yangtze Optical Fibre And Cable Limited'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 Communications 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.
Yangtze Optical Fibre And Cable Limited has a total score of 5/6, 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.

6869 Health

 How is Yangtze Optical Fibre And Cable Limited'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 Yangtze Optical Fibre And Cable Limited's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Yangtze Optical Fibre And Cable Limited is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Yangtze Optical Fibre And Cable Limited's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Yangtze Optical Fibre And Cable Limited'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 5.8x 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 Yangtze Optical Fibre And Cable Limited Company Filings, last reported 4 months ago.

SEHK:6869 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 8,506.74 1,410.83 2,992.54
2018-06-30 6,193.50 1,473.51 1,223.52
2018-03-31 5,792.87 1,033.75 1,491.72
2017-12-31 5,485.83 978.30 1,841.63
2017-09-30
2017-06-30 4,826.69 1,713.81 1,839.86
2017-03-31 4,423.55 1,756.45 1,676.38
2016-12-31 4,423.55 1,756.45 1,676.38
2016-09-30 4,423.55 1,756.45 1,676.38
2016-06-30 4,001.22 2,572.51 2,043.39
2016-03-31 4,001.22 2,572.51 2,043.39
2015-12-31 3,731.68 2,457.43 2,053.99
2015-09-30 3,731.68 2,457.43 2,053.99
2015-06-30 3,145.53 2,555.60 1,541.74
2015-03-31 3,145.53 2,555.60 1,541.74
2014-12-31 2,911.49 2,484.11 2,024.77
2014-09-30 2,911.49 2,484.11 2,024.77
2014-06-30 1,754.09 2,151.50 527.82
2014-03-31 1,754.09 2,151.50 527.82
2013-12-31 1,509.65 1,622.12 912.32
2012-12-31 1,751.20 1,052.26 305.99
  • Yangtze Optical Fibre And Cable Limited's level of debt (16.6%) 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 (94.3% vs 16.6% today).
  • Debt is well covered by operating cash flow (76.8%, greater than 20% of total debt).
  • Yangtze Optical Fibre And Cable Limited earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Yangtze Optical Fibre And Cable Limited'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. Yangtze Optical Fibre And Cable Limited has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

6869 Dividends

 What is Yangtze Optical Fibre And Cable Limited'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
3.94%
Current annual income from Yangtze Optical Fibre And Cable Limited dividends. Estimated to be 3.5% next year.
If you bought HK$2,000 of Yangtze Optical Fibre And Cable Limited shares you are expected to receive HK$79 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?
  • Yangtze Optical Fibre And Cable Limited's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.97%).
  • Yangtze Optical Fibre And Cable Limited's dividend is below the markets top 25% of dividend payers in Hong Kong (5.42%).
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:6869 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 9 Analyst Estimates (S&P Global) See Below
Hong Kong Communications Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 4.2%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 916 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 5.4%

Industry and Market average data is calculated daily.

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

SEHK:6869 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.51 1.00
2022-12-31 1.77 1.00
2021-12-31 1.74 1.00
2020-12-31 0.86 7.00
2019-12-31 0.62 8.00
2018-12-31 0.73 8.00
SEHK:6869 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-10-26 1.000 5.177
2018-08-27 1.000 4.815
2018-08-24 1.000 4.240
2018-07-18 0.000 0.000
2018-07-03 0.000 0.000
2018-04-30 0.000 0.000
2017-05-22 0.255 1.199
2016-06-07 0.174 1.510
2015-06-09 0.166 2.316

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

  • Whilst dividend payments have been stable, Yangtze Optical Fibre And Cable Limited has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Yangtze Optical Fibre And Cable Limited only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Yangtze Optical Fibre And Cable Limited's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3x coverage).
X
Income/ dividend checks
We assess Yangtze Optical Fibre And Cable Limited'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 Yangtze Optical Fibre And Cable Limited afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Yangtze Optical Fibre And Cable Limited 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.

6869 Management

 What is the CEO of Yangtze Optical Fibre And Cable Limited'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
Dan Zhuang
COMPENSATION CN¥6,017,515
AGE 48
TENURE AS CEO 7.4 years
CEO Bio

Mr. Zhuang Dan has been the President of Yangtze Optical Fibre And Cable Joint Stock Limited Company since September 2011. Mr. Dan served as Chief Financial Officer of Yangtze Optical Fibre and Cable Co., Ltd. He has been an Executive Director of Yangtze Optical Fibre And Cable Joint Stock Limited Company since January 24, 2017. He obtained a bachelor's degree in auditing from Wuhan University in July 1992, a master's degree in accounting from Wuhan University in June 1995, a doctorate in accounting from Zhongnan University of Finance and Economics in June 1998 and a postdoctoral certificate in business administration from Shanghai University of Finance and Economics in April 2001.

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

Average tenure and age of the Yangtze Optical Fibre And Cable Limited management team in years:

6
Average Tenure
52
Average Age
  • The average tenure for the Yangtze Optical Fibre And Cable Limited management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dan Zhuang

TITLE
President & Executive Director
COMPENSATION
CN¥6M
AGE
48
TENURE
7.4 yrs

Frank Dorjee

TITLE
Vice Chairman
COMPENSATION
CN¥466K
AGE
58

Paul Liang

TITLE
CFO & GM of the Financial Center
AGE
38

Changkun Yan

TITLE
VP & GM of the Operation
AGE
55

Jie Luo

TITLE
CTO, GM of R&D center and Director of State Key Laboratory
AGE
52
TENURE
9 yrs

Zhikang Jiang

TITLE
Chief Marketing & Strategic Officer and GM of the Manufacturing Center
COMPENSATION
CN¥1M
AGE
56

Xin Zheng

TITLE
Chief Sales Officer & GM of the Sales Center
AGE
49
TENURE
2.1 yrs

Rongrong Zhou

TITLE
Human Resources Director

Patsy Cheng

TITLE
Company Secretary
AGE
60
TENURE
4.7 yrs

Lijing Zhou

TITLE
VP & Secretary
AGE
45
Board of Directors Tenure

Average tenure and age of the Yangtze Optical Fibre And Cable Limited board of directors in years:

4.4
Average Tenure
55
Average Age
  • The tenure for the Yangtze Optical Fibre And Cable Limited board of directors is about average.
Board of Directors

Jie Ma

TITLE
Chairman of the Board
COMPENSATION
CN¥466K
AGE
47
TENURE
2.1 yrs

Dan Zhuang

TITLE
President & Executive Director
COMPENSATION
CN¥6M
AGE
48
TENURE
2.1 yrs

Frank Dorjee

TITLE
Vice Chairman
COMPENSATION
CN¥466K
AGE
58

Philippe Vanhille

TITLE
Vice Chairman
COMPENSATION
CN¥466K
AGE
54
TENURE
2.1 yrs

Maurice Ngai

TITLE
Independent Non Executive Director
COMPENSATION
CN¥466K
AGE
56
TENURE
4.4 yrs

Ping Li

TITLE
Independent Non Executive Director
COMPENSATION
CN¥466K
AGE
64
TENURE
4.4 yrs

Wang Ruichun

TITLE
Chairman of the Board of Supervisors
AGE
42
TENURE
2.1 yrs

Huili Zheng

TITLE
Non Executive Director
COMPENSATION
CN¥466K
AGE
59
TENURE
5.2 yrs

Xiangfeng Xiong

TITLE
Non Executive Director
COMPENSATION
CN¥466K
AGE
54
TENURE
5.2 yrs

Simon Ip

TITLE
Independent Non Executive Director
COMPENSATION
CN¥466K
AGE
69
TENURE
4.4 yrs
Who owns this company?
Recent Insider Trading
  • Yangtze Optical Fibre And Cable Limited insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
26. Dec 18 Sell Frank Dorjee Individual 21. Dec 18 21. Dec 18 -120,000 HK$20.70 HK$-2,484,000
26. Oct 18 Buy Capital Research and Management Company Company 24. Oct 18 24. Oct 18 150,000 HK$20.94 HK$3,141,121
X
Management checks
We assess Yangtze Optical Fibre And Cable Limited'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. Yangtze Optical Fibre And Cable Limited 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.

6869 News

Simply Wall St News

Is Yangtze Optical Fibre And Cable Joint Stock Limited Company's (HKG:6869) Growth Strong Enough To Justify Its February Share Price?

Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869) is considered a high-growth stock, but its last closing price of HK$27.6 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … View our latest analysis for Yangtze Optical Fibre And Cable Limited? … Yangtze Optical Fibre And Cable Limited's extremely high growth potential in the near future is attracting investors

Simply Wall St -

Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869) Is Trading At A 31.17% Discount

Does the February share price for Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869) reflect it's really worth? … Today, I will calculate the stock's intrinsic value. … by taking the foreast future cash flows of the company and discounting them back to today's value.

Simply Wall St -

Should Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869) Be Part Of Your Portfolio?

In the last few years Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869) has paid a dividend to shareholders. … Does Yangtze Optical Fibre And Cable Limited tick all the boxes of a great dividend stock? … Check out our latest analysis for Yangtze Optical Fibre And Cable Limited

Simply Wall St -

At HK$22.70, Is Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869) Worth Looking At Closely?

Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869), which is in the communications business, and is based in China,. … As a HK$25b market-cap stock, it seems odd Yangtze Optical Fibre And Cable Limited is not more well-covered by analysts. … Let’s examine Yangtze Optical Fibre And Cable Limited’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Have Insiders Been Selling Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869). … View our latest analysis for Yangtze Optical Fibre And Cable Limited. … Yangtze Optical Fibre And Cable Limited Insider Transactions Over The Last Year.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869)

We'll look at Yangtze Optical Fibre And Cable Joint Stock Limited Company's (HKG:6869) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Yangtze Optical Fibre And Cable Limited's P/E ratio is 8.31. … How Do I Calculate Yangtze Optical Fibre And Cable Limited's Price To Earnings Ratio

Simply Wall St -

Do Directors Own Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869) Shares?

The big shareholder groups in Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869) have power over the company. … Yangtze Optical Fibre And Cable Limited has a market capitalization of HK$24b, so it's too big to fly under the radar. … Check out our latest analysis for Yangtze Optical Fibre And Cable Limited

Simply Wall St -

Should You Be Holding Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869)?

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869) due to its excellent fundamentals in more than one area. … company with a

Simply Wall St -

Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869): How To Win In A Volatile Market

Today I want to bring to light the market's darling - Yangtze Optical Fibre And Cable Joint Stock Limited Company. … Looking at its size, financial health and track record, I believe there's an opportunity with Yangtze Optical Fibre And Cable Limited during these volatile times. … Yangtze Optical Fibre And Cable Joint Stock Limited Company manufactures and sells optical fiber and cable products in the People’s Republic of China and internationally

Simply Wall St -

What Should You Know About Yangtze Optical Fibre And Cable Joint Stock Limited Company's (HKG:6869) Capital Returns?

and want to begin learning the link between Yangtze Optical Fibre And Cable Joint Stock Limited Company (HKG:6869)’s return fundamentals and stock market performance. … Yangtze Optical Fibre And Cable Limited stock represents an ownership share in the company. … To understand Yangtze Optical Fibre And Cable Limited’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

6869 Company Info

Map
Description

Yangtze Optical Fibre And Cable Joint Stock Limited Company manufactures and sells optical fiber and cable products in the People’s Republic of China and internationally. The company operates through Optical Fibres and Optical Fibre Preforms, and Optical Fibre Cables segments. It offers optical fiber preforms, optical fibers, and optical fiber cables; and specialty optical fibers and cables, including specialty integration systems, as well as trades in raw materials. The company also provides adapter panels, optical distribution frames, plug-and-play modules, trunk cables, splitters, ribbon/bundle pigtails, jumpers, and terminal boxes, as well as optical fiber connectors, adapters, and attenuators. In addition, it offers communications and management solutions software. The company serves telecommunications, utilities, transportation, petrochemical, and healthcare industries. Yangtze Optical Fibre And Cable Joint Stock Limited Company was founded in 1988 and is headquartered in Wuhan, the People’s Republic of China.

Details
Name: Yangtze Optical Fibre And Cable Joint Stock Limited Company
6869
Exchange: SEHK
Founded: 1988
HK$32,351,528,463
757,905,108
Website: http://www.yofc.com
Address: Yangtze Optical Fibre And Cable Joint Stock Limited Company
No. 9 Guanggu Avenue,
East Lake High-tech Development Zone,
Wuhan,
Hubei Province, 430073,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 6869 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 10. Dec 2014
OTCPK YZOF.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 10. Dec 2014
DB 1YO Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 10. Dec 2014
SHSC 6869 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 10. Dec 2014
SZSC 6869 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 10. Dec 2014
SHSE 601869 Domestic Shares Shanghai Stock Exchange CN CNY 20. Jul 2018
XSSC 601869 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 20. Jul 2018
Number of employees
Current staff
Staff numbers
4,075
Yangtze Optical Fibre And Cable Limited employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/23 13:09
End of day share price update: 2019/02/22 00:00
Last estimates confirmation: 2019/02/19
Last earnings filing: 2018/10/26
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


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.