SEHK:3369

Stock Analysis Report

Executive Summary

Qinhuangdao Port Co., Ltd. operates ports in Mainland China.

Snowflake

Fundamentals

Good value with adequate balance sheet.

Share Price & News

How has Qinhuangdao Port's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.7%

3369

-0.6%

HK Infrastructure

0.3%

HK Market


1 Year Return

-14.4%

3369

-1.9%

HK Infrastructure

1.3%

HK Market

Return vs Industry: 3369 underperformed the Hong Kong Infrastructure industry which returned -1.9% over the past year.

Return vs Market: 3369 underperformed the Hong Kong Market which returned 1.3% over the past year.


Shareholder returns

3369IndustryMarket
7 Day-0.7%-0.6%0.3%
30 Day-4.0%-1.6%0.5%
90 Day-4.7%-4.1%-4.6%
1 Year-9.4%-14.4%4.0%-1.9%4.9%1.3%
3 Year-16.9%-26.3%-3.4%-16.3%15.3%3.7%
5 Year-51.5%-63.5%9.8%-12.8%20.0%-0.006%

Price Volatility Vs. Market

How volatile is Qinhuangdao Port's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Qinhuangdao Port undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 3369 (HK$1.43) is trading below our estimate of fair value (HK$3.69)

Significantly Below Fair Value: 3369 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 3369 is poor value based on its PE Ratio (11.5x) compared to the Infrastructure industry average (8.4x).

PE vs Market: 3369 is poor value based on its PE Ratio (11.5x) compared to the Hong Kong market (10.3x).


Price to Earnings Growth Ratio

PEG Ratio: 3369 is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: 3369 is good value based on its PB Ratio (0.5x) compared to the HK Infrastructure industry average (0.7x).


Next Steps

Future Growth

How is Qinhuangdao Port forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

45.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3369's forecast earnings growth (45.1% per year) is above the savings rate (2%).

Earnings vs Market: 3369's earnings (45.1% per year) are forecast to grow faster than the Hong Kong market (11.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 3369's revenue (3.7% per year) is forecast to grow slower than the Hong Kong market (10% per year).

High Growth Revenue: 3369's revenue (3.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 3369's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Qinhuangdao Port performed over the past 5 years?

-20.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 3369's earnings have declined by -20.8% per year over the past 5 years.

Accelerating Growth: 3369's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 3369 had negative earnings growth (-41.8%) over the past year, making it difficult to compare to the Infrastructure industry average (1.1%).


Return on Equity

High ROE: 3369's Return on Equity (3.7%) is considered low.


Return on Assets

ROA vs Industry: 3369's Return on Assets is below or equal to the Infrastructure industry average last year.


Return on Capital Employed

ROCE Improving: 3369 has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Qinhuangdao Port's financial position?


Financial Position Analysis

Short Term Liabilities: 3369's short term assets (CN¥4.1B) exceeds its short term liabilities (CN¥4.0B)

Long Term Liabilities: 3369's short term assets (4.1B) do not cover its long term liabilities (7.2B)


Debt to Equity History and Analysis

Debt Level: 3369's debt to equity ratio (47.3%) is considered high

Reducing Debt: 3369's debt to equity ratio has reduced from 99.5% to 47.3% over the past 5 years.

Debt Coverage: 3369's debt is well covered by operating cash flow (36.4%).

Interest Coverage: 3369's interest payments on its debt are well covered by EBIT (10x coverage).


Balance Sheet

Inventory Level: 3369 has a high level of physical assets or inventory.

Debt Coverage by Assets: 3369's debt is not covered by short term assets (assets are 0.6x debt).


Next Steps

Dividend

What is Qinhuangdao Port's current dividend yield, its reliability and sustainability?

5.97%

Current Dividend Yield


Dividend Yield vs Market

company6.0%marketbottom25%2.3%markettop25%6.2%industryaverage5.5%forecastin3Years6.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: 3369's dividend (5.97%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.26%).

High Dividend: 3369's dividend (5.97%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.18%).

Stable Dividend: 3369 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 3369 has only been paying a dividend for 5 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (68.6%), 3369's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Qinhuangdao Port's salary, the management and board of directors tenure and is there insider trading?

2.8yrs

Average management tenure


CEO

Wensheng Yang (50yo)

2.6yrs

Tenure

CN¥896,809

Compensation

Mr. Wensheng Yang has been President of Qinhuangdao Port Co., Ltd since December 2017 and serves as its Executive Director. Mr. Wensheng was General Manager of Qinhuangdao Port Co., Ltd since 15 March 2017 ...


CEO Compensation Analysis

Compensation vs. Market: Wensheng's total compensation ($USD126.72K) is about average for companies of similar size in the Hong Kong market ($USD557.11K).

Compensation vs Earnings: Wensheng's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

2.8yrs

Average Tenure

51yo

Average Age

Experienced Management: 3369's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

3.0yrs

Average Tenure

52yo

Average Age

Experienced Board: 3369's board of directors are considered experienced (3 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

SellCN¥52,73701 Aug 19
Fosun International Holdings Ltd.
EntityCompany
Shares34,500
Max PriceCN¥1.53
SellCN¥314,84003 Jun 19
Fosun International Holdings Ltd.
EntityCompany
Shares200,000
Max PriceCN¥1.57
BuyCN¥916,34804 Jan 19
Fosun International Holdings Ltd.
EntityCompany
Shares490,000
Max PriceCN¥1.87
BuyCN¥700,60021 Dec 18
Fosun International Holdings Ltd.
EntityCompany
Shares400,000
Max PriceCN¥1.75

Ownership Breakdown


Management Team

  • Xiping Ma (51yo)

    Secretary to the Board & Executive Director

    • Tenure: 6.3yrs
    • Compensation: CN¥834.52k
  • Zhenya He (56yo)

    Vice President

    • Tenure: 9.8yrs
    • Compensation: CN¥552.56k
  • Xikun Guo (54yo)

    VP & CFO

    • Tenure: 11.6yrs
    • Compensation: CN¥540.13k
  • Nan Zhang (39yo)

    Director of Securities Department & Company Secretary

    • Tenure: 2.8yrs
  • Yuzhong Nie (50yo)

    Vice President

    • Tenure: 1.6yrs
  • Wensheng Yang (50yo)

    President & Executive Director

    • Tenure: 2.6yrs
    • Compensation: CN¥896.81k
  • Hui Xie

    Head of Accounting Department

    • Tenure: 0yrs
  • Ziyu Cao (53yo)

    Chairman of the Board

    • Tenure: 3yrs
  • Lixin Chen

    Vice President

    • Tenure: 0.6yrs

Board Members

  • Xiping Ma (51yo)

    Secretary to the Board & Executive Director

    • Tenure: 6.3yrs
    • Compensation: CN¥834.52k
  • Jian Li (57yo)

    Non-Executive Director

    • Tenure: 5.3yrs
  • Wensheng Yang (50yo)

    President & Executive Director

    • Tenure: 2.6yrs
    • Compensation: CN¥896.81k
  • Shu Hou (56yo)

    Independent Non-Executive Director

    • Tenure: 4.3yrs
    • Compensation: CN¥125.00k
  • Xiu Zang (56yo)

    Independent Non-Executive Director

    • Tenure: 4.3yrs
    • Compensation: CN¥125.00k
  • Ziyu Cao (53yo)

    Chairman of the Board

    • Tenure: 3yrs
  • Xiang Xiao (46yo)

    Non-Executive Director

    • Tenure: 1.3yrs
  • Ruihua Chen (45yo)

    Independent Non-Executive Director

    • Tenure: 1.3yrs
    • Compensation: CN¥50.00k
  • Guanghai Liu (59yo)

    Vice Chairman

    • Tenure: 0.8yrs
  • Bo Meng (51yo)

    Chairman of Supervisory Committee

    • Tenure: 1.3yrs

Company Information

Qinhuangdao Port Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Qinhuangdao Port Co., Ltd.
  • Ticker: 3369
  • Exchange: SEHK
  • Founded: 1898
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Market Cap: HK$18.691b
  • Shares outstanding: 5.59b
  • Website: https://www.portqhd.com

Number of Employees


Location

  • Qinhuangdao Port Co., Ltd.
  • 35 Haibin Road
  • Qinhuangdao
  • Hebei Province
  • 66002
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3369SEHK (The Stock Exchange of Hong Kong Ltd.)YesForeign Shares-Foreign ListedHKHKDDec 2013
QHDDB (Deutsche Boerse AG)YesForeign Shares-Foreign ListedDEEURDec 2013
3369SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDDec 2013
3369SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDDec 2013
601326SHSE (Shanghai Stock Exchange)A SharesCNCNYAug 2017
601326XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect)A SharesCNCNYAug 2017

Biography

Qinhuangdao Port Co., Ltd. operates ports in Mainland China. The company offers integrated port services, including stevedoring, stacking, warehousing, transportation, and logistics services; and handles v ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 12:48
End of Day Share Price2019/10/23 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.