Sinotrans
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Sinotrans Limited provides integrated logistics services primarily in the People’s Republic of China. The last earnings update was 7 days ago. More info.
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598 Share Price and Events
7 Day Returns
1 Year Returns
598 Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Sinotrans (598) | -4.5% | -6.7% | -0.3% | -27.4% | -6.4% | -22.6% |
| HK Logistics | -4.7% | -5% | 3.6% | -19.6% | 0.1% | -12% |
| HK Market | 0.5% | 1.1% | 11.2% | -6.1% | 25.9% | 19.4% |
1 Year Return vs Industry and Market
- 598 underperformed the Logistics industry which returned -19.6% over the past year.
- 598 underperformed the Market in Hong Kong which returned -6.1% over the past year.
Value
Is Sinotrans 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
Sinotrans
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Sinotrans.
| 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 | 9.4% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year HK Govt Bond Rate | 2% |
| Equity Risk Premium | S&P Global | 6% |
| Logistics Unlevered Beta | Simply Wall St/ S&P Global | 1.04 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.037 (1 + (1- 25%) (41.9%)) |
1.243 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.24 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.243 * 5.96%) |
9.41% |
Discounted Cash Flow Calculation for SEHK:598 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Sinotrans 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.
| Levered FCF (CNY, Millions) | Source |
Present Value Discounted (@ 9.41%) |
|
|---|---|---|---|
| 2019 | 1,317.00 | Analyst x2 | 1,203.70 |
| 2020 | -2,617.00 | Analyst x1 | -2,186.10 |
| 2021 | 1,923.00 | Analyst x1 | 1,468.18 |
| 2022 | 2,377.39 | Est @ 23.63% | 1,658.95 |
| 2023 | 2,784.91 | Est @ 17.14% | 1,776.14 |
| 2024 | 3,135.80 | Est @ 12.6% | 1,827.88 |
| 2025 | 3,431.22 | Est @ 9.42% | 1,828.02 |
| 2026 | 3,678.11 | Est @ 7.2% | 1,790.98 |
| 2027 | 3,885.47 | Est @ 5.64% | 1,729.20 |
| 2028 | 4,062.15 | Est @ 4.55% | 1,652.31 |
| Present value of next 10 years cash flows | CN¥12,749.27 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= CN¥4,062.15 × (1 + 2%) ÷ (9.41% – 2%) |
CN¥55,922.35 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= CN¥55,922.35 ÷ (1 + 9.41%)10 |
CN¥22,746.75 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= CN¥12,749.27 + CN¥22,746.75 |
CN¥35,496.02 |
| Equity Value per Share (CNY) |
= Total value / Shares Outstanding
= CN¥35,496.02 / 7,400.80 |
CN¥4.8 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | CNY/HKD
(Reporting currency to currency of SEHK:598) |
1.169 |
| Value per Share (HKD) |
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥4.8 x 1.169 |
HK$5.61 |
| Value per share (HKD) | From above. | HK$5.61 |
| Current discount | Discount to share price of
HK$3.36
= -1 x (HK$3.36 - HK$5.61) / HK$5.61 |
40.1% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Sinotrans's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Sinotrans'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 Sinotrans's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Sinotrans's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in CNY | CN¥0.45 |
| SEHK:598 Share Price ** | SEHK (2019-04-18) in HKD | HK$3.36 |
| SEHK:598 Share Price converted to CNY reporting currency | Exchange rate (HKD/ CNY) 0.855 | CN¥2.87 |
| Hong Kong Logistics Industry PE Ratio | Median Figure of 11 Publicly-Listed Logistics Companies | 9.95x |
| Hong Kong Market PE Ratio | Median Figure of 1,474 Publicly-Listed Companies | 12x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Sinotrans.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SEHK:598 Share Price ÷ EPS (both in CNY) = 2.87 ÷ 0.45 |
6.38x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sinotrans is good value based on earnings compared to the HK Logistics industry average.
- Sinotrans is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does
Sinotrans's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 6.38x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts |
6.1%per year |
| Asia Logistics Industry PEG Ratio | Median Figure of 11 Publicly-Listed Logistics Companies | 1.05x |
| Hong Kong Market PEG Ratio | Median Figure of 462 Publicly-Listed Companies | 0.86x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 6.38x ÷ 6.1% |
1.05x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sinotrans is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Sinotrans's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in CNY | CN¥3.84 |
| SEHK:598 Share Price * | SEHK (2019-04-18) in HKD | HK$3.36 |
| SEHK:598 Share Price converted to CNY reporting currency | Exchange rate (HKD/ CNY) 0.855 | CN¥2.87 |
| Hong Kong Logistics Industry PB Ratio | Median Figure of 15 Publicly-Listed Logistics Companies | 1.38x |
| Hong Kong Market PB Ratio | Median Figure of 2,149 Publicly-Listed Companies | 1.03x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SEHK:598 Share Price ÷ Book Value per Share (both in CNY) = 2.87 ÷ 3.84 |
0.75x |
* Primary Listing of Sinotrans.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sinotrans is good value based on assets compared to the HK Logistics industry average.
Value checks
We assess Sinotrans's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Logistics industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Logistics industry average (and greater than 0)? (1 check) Sinotrans has a total score of 5/6, 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 Sinotrans 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!
Earnings growth vs Low Risk Savings
- Sinotrans's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
- Sinotrans's earnings growth is positive but not above the Hong Kong market average.
- Sinotrans's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SEHK:598 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts | 6.1% |
| SEHK:598 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts | 7.1% |
| Hong Kong Logistics Industry Earnings Growth Rate | Market Cap Weighted Average | 1.7% |
| Asia Logistics Industry Revenue Growth Rate | Market Cap Weighted Average | 8.8% |
| Hong Kong Market Earnings Growth Rate | Market Cap Weighted Average | 11.6% |
| Hong Kong Market Revenue Growth Rate | Market Cap Weighted Average | 11.2% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| Date (Data in CNY Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 96,659 | 3,700 | 3,157 | 4 |
| 2020-12-31 | 87,129 | 4,063 | 3,071 | 8 |
| 2019-12-31 | 81,139 | 5,244 | 2,704 | 8 |
| Date (Data in CNY Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 77,312 | 2,013 | 2,704 |
| 2018-09-30 | 75,971 | 2,465 | 2,539 |
| 2018-06-30 | 74,508 | 2,917 | 2,374 |
| 2018-03-31 | 73,771 | 2,961 | 2,339 |
| 2017-12-31 | 73,158 | 3,006 | 2,304 |
| 2017-09-30 | 73,244 | 2,065 | 2,408 |
| 2017-06-30 | 73,331 | 1,123 | 2,512 |
| 2017-03-31 | 66,741 | 1,748 | 2,383 |
| 2016-12-31 | 60,152 | 2,373 | 2,254 |
| 2016-09-30 | 52,397 | 2,292 | 1,919 |
| 2016-06-30 | 44,642 | 2,211 | 1,585 |
| 2016-03-31 | 45,257 | 2,322 | 1,539 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
All data from Sinotrans Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CNY Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 0.43 | 0.47 | 0.39 | 3.00 |
| 2020-12-31 | 0.42 | 0.49 | 0.33 | 8.00 |
| 2019-12-31 | 0.37 | 0.41 | 0.30 | 6.00 |
| Date (Data in CNY Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.45 |
| 2018-09-30 | 0.42 |
| 2018-06-30 | 0.39 |
| 2018-03-31 | 0.39 |
| 2017-12-31 | 0.38 |
| 2017-09-30 | 0.38 |
| 2017-06-30 | 0.37 |
| 2017-03-31 | 0.37 |
| 2016-12-31 | 0.37 |
| 2016-09-30 | 0.36 |
| 2016-06-30 | 0.34 |
| 2016-03-31 | 0.33 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Sinotrans's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Sinotrans 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 Sinotrans 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
Past Earnings growth analysis
- Sinotrans has delivered over 20% year on year earnings growth in the past 5 years.
- Sinotrans's 1-year earnings growth is less than its 5-year average (17.4% vs 20.7%)
- Sinotrans's earnings growth has exceeded the HK Logistics industry average in the past year (17.4% vs -7.4%).
Earnings and Revenue History
All data from Sinotrans Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CNY Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 77,311.84 | 2,704.11 | 3,893.74 | 23.93 |
| 2018-09-30 | 75,971.39 | 2,539.03 | 3,648.36 | 12.61 |
| 2018-06-30 | 74,508.18 | 2,373.95 | 552.80 | |
| 2018-03-31 | 73,771.47 | 2,339.07 | 566.87 | |
| 2017-12-31 | 73,157.51 | 2,304.19 | 3,431.10 | 1.29 |
| 2017-09-30 | 73,244.07 | 2,408.29 | 2,036.52 | 0.65 |
| 2017-06-30 | 73,330.62 | 2,512.39 | 641.94 | |
| 2017-03-31 | 66,741.22 | 2,383.06 | 607.05 | |
| 2016-12-31 | 60,151.81 | 2,253.73 | 572.16 | |
| 2016-09-30 | 52,396.74 | 1,919.33 | 521.10 | |
| 2016-06-30 | 44,641.66 | 1,584.93 | 470.04 | |
| 2016-03-31 | 45,257.44 | 1,539.10 | 468.67 | |
| 2015-12-31 | 45,873.22 | 1,493.26 | 467.29 | |
| 2015-09-30 | 45,745.24 | 1,293.86 | -630.62 | |
| 2015-06-30 | 47,404.48 | 1,365.00 | 486.97 | |
| 2015-03-31 | 47,228.17 | 1,335.06 | 156.29 | |
| 2014-12-31 | 45,855.93 | 1,150.40 | 492.88 | |
| 2014-09-30 | 43,258.61 | 1,267.94 | 596.62 | |
| 2014-06-30 | 43,152.32 | 1,119.35 | 517.78 | |
| 2014-03-31 | 46,293.68 | 949.22 | 546.01 | |
| 2013-12-31 | 45,557.06 | 938.18 | 541.22 | |
| 2013-09-30 | 48,553.40 | 708.37 | 661.37 | |
| 2013-06-30 | 48,261.58 | 738.82 | 568.84 | |
| 2013-03-31 | 49,475.60 | 687.71 | 607.88 | |
| 2012-12-31 | 47,619.26 | 649.05 | 573.78 | |
| 2012-09-30 | 47,526.77 | 644.15 | 607.72 | |
| 2012-06-30 | 46,528.31 | 594.26 | 551.07 |
*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.
- Sinotrans has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Sinotrans used its assets less efficiently than the HK Logistics industry average last year based on Return on Assets.
- Sinotrans's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Sinotrans's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Logistics industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Sinotrans has a total score of 2/6, 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 Sinotrans'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 Sinotrans's finances.
The net worth of a company is the difference between its assets and liabilities.
- Sinotrans is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Sinotrans's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 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.
All data from Sinotrans Company Filings, last reported 3 months ago.
| Date (Data in CNY Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 27,853.44 | 15,729.06 | 15,928.57 |
| 2018-09-30 | 27,853.44 | 15,729.06 | 15,928.57 |
| 2018-06-30 | 26,155.14 | 16,002.36 | 13,166.12 |
| 2018-03-31 | 26,155.14 | 16,002.36 | 13,166.12 |
| 2017-12-31 | 25,835.06 | 14,105.62 | 14,534.23 |
| 2017-09-30 | 25,835.06 | 14,105.62 | 14,534.23 |
| 2017-06-30 | 20,337.21 | 6,202.06 | 7,791.38 |
| 2017-03-31 | 20,337.21 | 6,202.06 | 7,791.38 |
| 2016-12-31 | 23,227.94 | 11,111.55 | 12,266.94 |
| 2016-09-30 | 23,227.94 | 11,111.55 | 12,266.94 |
| 2016-06-30 | 18,926.98 | 6,987.72 | 7,476.88 |
| 2016-03-31 | 18,926.98 | 6,987.72 | 7,476.88 |
| 2015-12-31 | 18,459.80 | 5,672.12 | 8,066.37 |
| 2015-09-30 | 18,459.80 | 5,672.12 | 8,066.37 |
| 2015-06-30 | 18,899.61 | 6,145.32 | 7,464.16 |
| 2015-03-31 | 18,899.61 | 6,145.32 | 7,464.16 |
| 2014-12-31 | 16,305.12 | 5,954.00 | 6,403.71 |
| 2014-09-30 | 16,035.37 | 5,948.79 | 7,355.55 |
| 2014-06-30 | 14,013.41 | 6,916.12 | 6,851.32 |
| 2014-03-31 | 13,974.38 | 3,019.00 | 6,245.08 |
| 2013-12-31 | 14,051.95 | 7,022.84 | 6,394.25 |
| 2013-09-30 | 13,443.63 | 3,760.03 | 6,901.79 |
| 2013-06-30 | 12,901.72 | 6,743.88 | 6,323.44 |
| 2013-03-31 | 13,187.51 | 3,556.53 | 6,197.44 |
| 2012-12-31 | 12,727.71 | 6,636.69 | 6,253.90 |
| 2012-09-30 | 12,888.63 | 5,734.95 | 7,400.57 |
| 2012-06-30 | 12,361.00 | 7,237.21 | 6,671.29 |
- Sinotrans's level of debt (56.5%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (49.7% vs 56.5% today).
- Debt is not well covered by operating cash flow (12.8%, less than 20% of total debt).
- Sinotrans earns more interest than it pays, coverage of interest payments is not a concern.
Financial health checks
We assess Sinotrans's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Sinotrans has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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 Sinotrans'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
If you bought
HK$2,000 of
Sinotrans
shares you are expected to receive
HK$90
in your first year as a dividend.
Dividend Amount
- Sinotrans's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.94%).
- Sinotrans's dividend is below the markets top 25% of dividend payers in Hong Kong (5.34%).
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.
| 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 Logistics Industry Average Dividend Yield | Market Cap Weighted Average of 6 Stocks | 3.6% |
| Hong Kong Market Average Dividend Yield | Market Cap Weighted Average of 965 Stocks | 3.4% |
| Hong Kong Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Hong Kong Bottom 25% Dividend Yield | 25th Percentile | 1.9% |
| Hong Kong Top 25% Dividend Yield | 75th Percentile | 5.3% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in CN¥) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 0.13 | 3.00 |
| 2020-12-31 | 0.14 | 9.00 |
| 2019-12-31 | 0.12 | 9.00 |
| Date (Data in CN¥) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-12 | 0.130 | 4.357 |
| 2018-08-21 | 0.000 | 0.000 |
| 2018-04-12 | 0.120 | 3.487 |
| 2018-03-26 | 0.120 | 3.378 |
| 2017-03-27 | 0.110 | 3.257 |
| 2016-03-31 | 0.100 | 3.243 |
| 2015-03-24 | 0.130 | 3.719 |
| 2014-09-04 | 0.040 | 0.912 |
| 2014-08-20 | 0.040 | 0.961 |
| 2014-03-25 | 0.050 | 1.388 |
| 2013-03-19 | 0.030 | 1.907 |
| 2012-08-27 | 0.000 | 0.000 |
| 2012-08-20 | 0.000 | 0.000 |
| 2012-03-29 | 0.020 | 1.996 |
| 2011-08-18 | 0.040 | 3.238 |
| 2011-03-23 | 0.040 | 2.665 |
| 2010-08-24 | 0.040 | 2.166 |
| 2010-03-29 | 0.020 | 1.236 |
| 2009-08-31 | 0.000 | 0.000 |
| 2009-04-20 | 0.040 | 2.523 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Sinotrans's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (3.5x coverage).
- Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).
Income/ dividend checks
We assess Sinotrans's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Sinotrans afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Sinotrans has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | CN¥1,841,000 |
| AGE | 52 |
| TENURE AS CEO | 5.2 years |
CEO Bio
Mr. Guanpeng Li has been Chairman of the board at Sinotrans Limited. since February 26, 2019. He has been the President of Sinotrans Ltd. since February 8, 2014. Mr. Li has been an Executive Director of Sinotrans Ltd. since March 31, 2014 and served as its Vice President of Sinotrans Ltd. from August 21, 2013 to January 2014. He joined Sinotrans Group Company in 1989, worked in Huangpu Company of Sinotrans Guangdong. Mr. Li served as the General Manager at Zhuhai Shipping Agency Co., Limited and Guangdong Shipping Agency Co., Limited successively in 1994 and 1998. In September 1999, Mr. Li took the position of the Vice General Manager of Sinotrans Guangdong. From January 2009 to January 2010, Mr. Li was temporarily transferred to the Ministry of Transport and served as assistant to the director. In March 2010, Mr. Li was appointed to be the General Manager of Sinotrans Guangdong. He serves as Director of Sinotrans Air Transportation Development Co., Ltd. Mr. Li graduated from Sun Yat-sen University in 1989 and obtained his bachelor degree in English Language and Literature.
CEO Compensation
- Guanpeng's compensation has been consistent with company performance over the past year.
- Guanpeng's remuneration is about average for companies of similar size in Hong Kong.
Management Team Tenure
Average tenure and age of the Sinotrans management team in years:
- The tenure for the Sinotrans management team is about average.
Management Team
Guanpeng Li
Executive Chairman & President
CN¥2M
52
5.2 yrs
Lin Wang
Senior Advisor & Executive Director
CN¥2M
59
Xueming Wu
VP & Executive Director
CN¥1M
55
8.7 yrs
Dexing Song
Vice Chairman
55
Jiuyun Wang
Chief Financial Officer
52
2.3 yrs
Xiang Gao
Chief Information Officer
46
2.6 yrs
Rong Song
VP & Executive Director
46
3.3 yrs
Shichu Li
Joint Company Secretary
48
2.3 yrs
Shirley Hui
Joint Company Secretary
50
2.3 yrs
Board of Directors Tenure
Average tenure and age of the Sinotrans board of directors in years:
- The average tenure for the Sinotrans board of directors is less than 3 years, this suggests a new board.
Board of Directors
Guanpeng Li
Executive Chairman & President
CN¥2M
52
0.2 yrs
Lin Wang
Senior Advisor & Executive Director
CN¥2M
59
5.1 yrs
Xueming Wu
VP & Executive Director
CN¥1M
55
3.8 yrs
Dexing Song
Vice Chairman
55
0.8 yrs
Rong Song
VP & Executive Director
46
0.8 yrs
Taiwen Wang
Independent Non-Executive Director
72
1.3 yrs
Yan Meng
Independent Non-Executive Director
63
0.8 yrs
Qian Li
Independent Non-Executive Director
50
0.8 yrs
Jerry Hsu
Non-Executive Director
67
15.8 yrs
Haiqing Song
Independent Non-Executive Director
40
0.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (HK$) | Value (HK$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 20. Mar 19 | Buy | JPMorgan Chase & Co, Private Banking and Investment Banking Investments | Company | 15. Mar 19 | 15. Mar 19 | 10,991 | HK$3.72 | HK$40,846 | ||
| 27. Feb 19 | Sell | JPMorgan Chase & Co, Brokerage and Securities Investments | Company | 22. Feb 19 | 22. Feb 19 | -159,000 | HK$3.70 | HK$-588,364 | ||
| 27. Feb 19 | Buy | JPMorgan Chase & Co, Private Banking and Investment Banking Investments | Company | 22. Feb 19 | 22. Feb 19 | 719,000 | HK$3.70 | HK$2,660,589 | ||
| 26. Dec 18 | Buy | JPMorgan Chase & Co, Private Banking and Investment Banking Investments | Company | 21. Dec 18 | 21. Dec 18 | 3,296,988 | HK$3.26 | HK$10,756,095 | ||
| 16. Oct 18 | Sell | JPMorgan Chase & Co, Private Banking and Investment Banking Investments | Company | 11. Oct 18 | 11. Oct 18 | -4,237,488 | HK$2.91 | HK$-12,327,704 | ||
| 15. Oct 18 | Buy | JPMorgan Chase & Co, Private Banking and Investment Banking Investments | Company | 10. Oct 18 | 10. Oct 18 | 3,418,488 | HK$3.11 | HK$10,621,246 | ||
| 27. Aug 18 | Sell | FIL Limited | Company | 22. Aug 18 | 22. Aug 18 | -1,653,000 | HK$3.29 | HK$-5,443,163 | ||
| 27. Jul 18 | Sell | FMR LLC | Company | 24. Jul 18 | 24. Jul 18 | -1,511,000 | HK$3.94 | HK$-5,952,588 | ||
| 27. Jul 18 | Sell | FIL Limited | Company | 24. Jul 18 | 24. Jul 18 | -1,818,000 | HK$3.94 | HK$-7,162,016 | ||
| 16. Jul 18 | Buy | FIL Limited | Company | 11. Jul 18 | 11. Jul 18 | 2,944,000 | HK$3.75 | HK$11,044,407 | ||
| 04. Jul 18 | Buy | FMR LLC | Company | 28. Jun 18 | 28. Jun 18 | 387,000 | HK$3.86 | HK$1,493,473 | ||
| 07. Jun 18 | Buy | JPMorgan Chase & Co, Private Banking and Investment Banking Investments | Company | 04. Jun 18 | 04. Jun 18 | 8,668,968 | HK$4.42 | HK$38,351,484 | ||
| 07. Jun 18 | Sell | BlackRock, Inc. | Company | 04. Jun 18 | 04. Jun 18 | -30,034,000 | HK$4.46 | HK$-133,894,637 | ||
| 05. Jun 18 | Buy | BlackRock, Inc. | Company | 31. May 18 | 31. May 18 | 62,645,978 | HK$4.46 | HK$279,463,565 | ||
Management checks
We assess Sinotrans's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Sinotrans 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
Why You Should Care About Sinotrans Limited’s (HKG:598) Low Return On Capital
In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleIs Sinotrans Limited's (HKG:598) Balance Sheet A Threat To Its Future?
Today we will look at 598’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look further. … How does 598’s operating cash flow stack up against its debt?
Simply Wall St - – Full articleWho Are The Largest Shareholders In Sinotrans Limited (HKG:598)?
In this analysis, my focus will be on developing a perspective on Sinotrans Limited’s (HKG:598) latest ownership structure, a less discussed, but important factor. … Ownership structure has been found to have an impact on shareholder returns in both short- and long-term. … Differences in ownership structure of companies can have a profound effect on how management's incentives are aligned with shareholder returns, and whether they adhere to corporate governance best practices.
Simply Wall St - – Full articleShould You Ramp Up Holdings In Sinotrans Limited (HKG:598)?
Sinotrans Limited is a financially healthy and robust stock with a proven track record of outperformance. … We all know Sinotrans, and having this large-cap to cushion your portfolio during a volatile period in the stock market isn't a bad idea. … Today I will give a high-level overview of the stock, and why I believe it's still attractive.
Simply Wall St - – Full articleSinotrans Limited (HKG:598): Why Return On Capital Employed Is Important
and want to better understand how you can grow your money by investing in Sinotrans Limited (HKG:598). … Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … Thus, to understand how your money can grow by investing in Sinotrans, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)
Simply Wall St - – Full articleAn Intrinsic Calculation For Sinotrans Limited (HKG:598) Shows It's 46.34% Undervalued
Today I will be providing a simple run through of a valuation method used to estimate the attractiveness of Sinotrans Limited (HKG:598) as an investment opportunity. … by projecting its future cash flows and then discounting them to today's value. … Discounted Cash Flows (DCF).
Simply Wall St - – Full articleShould You Follow This Trend For Sinotrans Limited (HKG:598)?
some insider buying over the past three months, with insiders investing in. … It is widely considered that insider buying stock in their own companies is potentially a bullish signal … A research published in The MIT Press (1998) concluded that stocks following insider buying outperformed the market by 4.5%
Simply Wall St - – Full articleSinotrans Limited's (HKG:598) Earnings Grew 2.24%, Did It Beat Long-Term Trend?
Today I will examine Sinotrans Limited's (HKG:598) latest earnings update (31 December 2017) and compare these figures against its performance over the past couple of years, in addition to how the rest of 598's industry performed. … Did 598's recent earnings growth beat the long-term trend and the industry. … 598's trailing twelve-month earnings (from 31 December 2017) of HK$2.30b has
Simply Wall St - – Full articleShould You Be Holding Sinotrans Limited (HKG:598)?
Sinotrans Limited (HKG:598) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of 598, it
Simply Wall St - – Full articleIs Sinotrans Limited (HGK:598) A Great Dividend Stock?
A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Over the past 10 years, Sinotrans Limited (HGK:598) has returned an average of 2.00% per year to shareholders in terms of dividend yield. … 5 checks you should do on a dividend stock
Simply Wall St - – Full articleCompany Info
Description
Sinotrans Limited provides integrated logistics services primarily in the People’s Republic of China. The company operates through Freight Forwarding, Logistics, Storage and Terminal Services, Logistics Equipment Leasing, and Other Services segments. It offers ocean freight services, such as containerized and non-containerized load ocean freight, multimodal transportation, and customs clearance services; air freight services comprising air charter and cross-border e-commerce logistics services; and shipping agency services, such as ship, cargo and passenger, supply, and other services. The company also operates terminals that offer berthing, stevedoring, stacking, delivery, and other value-added terminal services; and container yards and container freight stations that provide services, such as loaded or empty container stevedoring, transfer and storage, devanning, tally, bonded warehousing, consolidation, delivery and distribution, etc. In addition, it provides road transport solutions and door-to-door road freight services; rail transport for bulk and general cargo, and containerized goods; and international rail transport and rail transshipment of sea cargo, as well as multimodal transport solutions. Further, the company offers door-to-door express services for parcel and document to various destinations in approximately 200 countries; supply chain management and security services; and integrated information services, including order processing, operation management, financial settlement, and electronic payment. Additionally, it provides logistics equipment and container leasing; and hoisting and transporting services, as well as operates warehouses and container freight stations. Sinotrans Limited was founded in 1950 and is headquartered in Beijing, the People’s Republic of China.
Details
| Name: | Sinotrans Limited |
| 598 | |
| Exchange: | SEHK |
| Founded: | 1950 |
| HK$43,903,091,054 | |
| 7,400,803,875 | |
| Website: | http://www.sinotrans.com |
| Address: |
Sinotrans Limited Building 10/Sinotrans Tower B, No. 5 Anding Road, Beijing, 100029, China |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SEHK | 598 | Foreign Shares-Foreign Listed | The Stock Exchange of Hong Kong Ltd. | HK | HKD | 13. Feb 2003 | |
| OTCPK | SNOT.F | Foreign Shares-Foreign Listed | Pink Sheets LLC | US | USD | 13. Feb 2003 | |
| DB | SIY | Foreign Shares-Foreign Listed | Deutsche Boerse AG | DE | EUR | 13. Feb 2003 | |
| SHSC | 598 | Foreign Shares-Foreign Listed | Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect | HK | HKD | 13. Feb 2003 | |
| SZSC | 598 | Foreign Shares-Foreign Listed | The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect | HK | HKD | 13. Feb 2003 | |
| SHSE | 601598 | Domestic Shares | Shanghai Stock Exchange | CN | CNY | 18. Jan 2019 | |
| XSSC | 601598 | Domestic Shares | Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect | CN | CNY | 18. Jan 2019 |
Number of employees
Current staff
Industry
| Air Freight and Logistics | |
| Transportation |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/19 12:34 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/19 |
| Last earnings filing: | 2019/04/12 |
| 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.
