SEHK:3382

Stock Analysis Report

Tianjin Port Development Holdings

Executive Summary

Tianjin Port Development Holdings Limited, an investment holding company, operates the port of Tianjin in the People’s Republic of China.

Snowflake

Fundamentals

Adequate balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-1.4%

3382

0.4%

HK Infrastructure

0.9%

HK Market


1 Year Return

-13.6%

3382

-0.6%

HK Infrastructure

0.6%

HK Market

Return vs Industry: 3382 underperformed the Hong Kong Infrastructure industry which returned -0.6% over the past year.

Return vs Market: 3382 underperformed the Hong Kong Market which returned 0.6% over the past year.


Shareholder returns

3382IndustryMarket
7 Day-1.4%0.4%0.9%
30 Day-2.8%-1.2%0.5%
90 Day-14.6%-4.5%-4.3%
1 Year-10.5%-13.6%5.3%-0.6%4.2%0.6%
3 Year-37.1%-43.5%-2.6%-15.5%15.6%4.0%
5 Year-51.5%-59.1%9.0%-13.2%20.0%-0.08%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Tianjin Port Development Holdings 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: 3382 (HK$0.7) is trading below our estimate of fair value (HK$2.39)

Significantly Below Fair Value: 3382 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 3382 is poor value based on its PE Ratio (13.3x) compared to the Infrastructure industry average (8.5x).

PE vs Market: 3382 is poor value based on its PE Ratio (13.3x) compared to the Hong Kong market (10.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 3382's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 3382 is good value based on its PB Ratio (0.3x) compared to the HK Infrastructure industry average (0.8x).


Next Steps

Future Growth

How is Tianjin Port Development Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

23.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3382's forecast earnings growth (23.2% per year) is above the savings rate (2%).

Earnings vs Market: 3382's earnings (23.2% per year) are forecast to grow faster than the Hong Kong market (11.3% per year).

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

Revenue vs Market: Insufficient data to determine if 3382's revenue is forecast to grow faster than the Hong Kong market.

High Growth Revenue: Insufficient data to determine if 3382's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 3382's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Tianjin Port Development Holdings performed over the past 5 years?

-11.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 3382's earnings have declined by -11.3% per year over the past 5 years.

Accelerating Growth: 3382's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 3382 had negative earnings growth (-54.8%) over the past year, making it difficult to compare to the Infrastructure industry average (1.1%).


Return on Equity

High ROE: 3382's Return on Equity (3.5%) is considered low.


Return on Assets

ROA vs Industry: 3382's Return on Assets is below or equal to the Infrastructure industry average last year.


Return on Capital Employed

ROCE Improving: 3382's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Tianjin Port Development Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 3382's short term assets (HK$14.3B) exceeds its short term liabilities (HK$11.4B)

Long Term Liabilities: 3382's short term assets (14.3B) exceeds its long term liabilities (9.6B)


Debt to Equity History and Analysis

Debt Level: 3382's debt to equity ratio (54.9%) is considered high

Reducing Debt: 3382's debt to equity ratio has reduced from 57.8% to 54.9% over the past 5 years.

Debt Coverage: 3382's debt is not well covered by operating cash flow (18.4%).

Interest Coverage: 3382's interest payments on its debt are well covered by EBIT (3.8x coverage).


Balance Sheet

Inventory Level: 3382 has a high level of physical assets or inventory.

Debt Coverage by Assets: 3382's debt is not covered by short term assets (assets are 1x debt).


Next Steps

Dividend

What is Tianjin Port Development Holdings's current dividend yield, its reliability and sustainability?

3.98%

Current Dividend Yield


Dividend Yield vs Market

company4.0%marketbottom25%2.3%markettop25%6.3%industryaverage5.3%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: 3382's dividend (3.99%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.27%).

High Dividend: 3382's dividend (3.99%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.25%).

Stable Dividend: 3382 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 3382 has only been paying a dividend for 9 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (53.1%), 3382'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 Tianjin Port Development Holdings's salary, the management and board of directors tenure and is there insider trading?

8.4yrs

Average management tenure


CEO

Quanyong Li (57yo)

9.5yrs

Tenure

HK$2,621,000

Compensation

Mr. Quanyong Li has been the Managing Director of Tianjin Port Development Holdings Limited since April 8, 2010. Mr. Li has been a Co-President of Tianjin Port Company Limited, a subsidiary of Tianjin Port ...


CEO Compensation Analysis

Compensation vs. Market: Quanyong's total compensation ($USD334.22K) is about average for companies of similar size in the Hong Kong market ($USD298.58K).

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


Management Age and Tenure

8.4yrs

Average Tenure

50.5yo

Average Age

Experienced Management: 3382's management team is seasoned and experienced (8.4 years average tenure).


Board Age and Tenure

6.2yrs

Average Tenure

54yo

Average Age

Experienced Board: 3382's board of directors are considered experienced (6.2 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.


Ownership Breakdown


Management Team

  • Quanyong Li (57yo)

    MD & Executive Director

    • Tenure: 9.5yrs
    • Compensation: HK$2.62m
  • Winnie Chan (50yo)

    CFO & Company Secretary

    • Tenure: 8.4yrs
  • Jing Shi (49yo)

    Executive Director

    • Tenure: 5.1yrs
    • Compensation: HK$418.00k
  • Bin Sun (41yo)

    Deputy GM & Executive Director

    • Tenure: 0.8yrs
  • Bin Chu (51yo)

    Chairman

    • Tenure: 0.8yrs
    • Compensation: HK$2.64m
  • Junzhong Wang (54yo)

    Executive Director

    • Tenure: 0.8yrs

Board Members

  • Japhet Sebastian Law (67yo)

    Independent Non-Executive Director

    • Tenure: 14.1yrs
    • Compensation: HK$545.00k
  • Leslie Cheng (62yo)

    Independent Non-Executive Director

    • Tenure: 14.1yrs
    • Compensation: HK$545.00k
  • James Zhang (54yo)

    Independent Non-Executive Director

    • Tenure: 7.3yrs
    • Compensation: HK$545.00k
  • Quanyong Li (57yo)

    MD & Executive Director

    • Tenure: 9.5yrs
    • Compensation: HK$2.62m
  • Jing Shi (49yo)

    Executive Director

    • Tenure: 5.1yrs
    • Compensation: HK$418.00k
  • Bin Sun (41yo)

    Deputy GM & Executive Director

    • Tenure: 0.8yrs
  • Bin Chu (51yo)

    Chairman

    • Tenure: 0.8yrs
    • Compensation: HK$2.64m
  • Junzhong Wang (54yo)

    Executive Director

    • Tenure: 0.8yrs

Company Information

Tianjin Port Development Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tianjin Port Development Holdings Limited
  • Ticker: 3382
  • Exchange: SEHK
  • Founded: 1968
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Market Cap: HK$4.311b
  • Shares outstanding: 6.16b
  • Website: https://www.tianjinportdev.com

Number of Employees


Location

  • Tianjin Port Development Holdings Limited
  • Tower Two, Times Square
  • Suite 3904-3907
  • Causeway Bay
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3382SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDMay 2006
T9PDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMay 2006
TJIP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMay 2006
3382SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDMay 2006
3382SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDMay 2006

Biography

Tianjin Port Development Holdings Limited, an investment holding company, operates the port of Tianjin in the People’s Republic of China. It operates in three segments: Cargo Handling, Sales, and Other Por ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 12:41
End of Day Share Price2019/10/21 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.