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Sinotrans

SEHK:598
Snowflake Description

Undervalued average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
598
SEHK
HK$44B
Market Cap
  1. Home
  2. HK
  3. Transportation
Company description

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
-4.5%
SEHK:598
-4.7%
HK Logistics
0.5%
HK Market
1 Year Returns
-27.4%
SEHK:598
-19.6%
HK Logistics
-6.1%
HK Market
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.
Price Volatility
598
Industry
5yr Volatility vs Market

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sinotrans.

SEHK:598 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 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.

Calculation of Discount Rate/ Cost of Equity for SEHK:598
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.

SEHK:598 DCF 1st Stage: Next 10 year cash flow forecast
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
SEHK:598 DCF 2nd Stage: Terminal Value
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
SEHK:598 Total Equity Value
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
SEHK:598 Discount to Share Price
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
Amount off the current price Sinotrans is available for.
Intrinsic value
40%
Share price is HK$3.36 vs Future cash flow value of HK$5.61
Current Discount Checks
For Sinotrans to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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?
Raw Data
SEHK:598 PE (Price to Earnings) Ratio Data Sources
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.

SEHK:598 PE (Price to Earnings) Ratio Calculation
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?
Raw Data
SEHK:598 PEG (Price to Earnings to Growth) Ratio Data Sources
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 .

SEHK:598 PEG (Price to Earnings to Growth) Ratio Calculation
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?
Raw Data
SEHK:598 PB (Price to Book) Ratio Data Sources
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
SEHK:598 PB (Price to Book) Ratio Calculation
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.
X
Value checks
We assess Sinotrans'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 Logistics 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 Logistics industry average (and greater than 0)? (1 check)
  5. 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!
Annual Growth Rate
6.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sinotrans expected to grow at an attractive rate?
  • 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
Raw Data
SEHK:598 Future Growth Rates Data Sources
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
Raw Data
SEHK:598 Analysts Growth Expectations Data Sources
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 numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:598 Future Estimates Data
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
SEHK:598 Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • Sinotrans's earnings are expected to grow by 6.1% yearly, however this is not considered high growth (20% yearly).
  • Sinotrans's revenue is expected to grow by 7.1% 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:598 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.

SEHK:598 Future Estimates Data
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
SEHK:598 Past Financials Data
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.

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.
  • Sinotrans is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sinotrans'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 Asia 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.
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
Below we compare Sinotrans's growth in the last year to its industry (Logistics).
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.
  • 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
Sinotrans'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 Sinotrans Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:598 Past Revenue, Cash Flow and Net Income Data
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).
X
Past performance checks
We assess Sinotrans'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 Logistics 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.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Sinotrans'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 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.
Raw Data

All data from Sinotrans Company Filings, last reported 3 months ago.

SEHK:598 Past Debt and Equity Data
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.
X
Financial health checks
We assess Sinotrans'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. Sinotrans has a total score of 3/6, 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.

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
Dividend payments
4.52%
Current annual income from Sinotrans dividends. Estimated to be 4.52% next year.
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
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?
  • 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.
Raw Data
SEHK:598 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 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.

SEHK:598 Future Dividends Estimate Data
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
SEHK:598 Past Annualized Dividends Data
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).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).
X
Income/ dividend checks
We assess Sinotrans'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 Sinotrans afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. 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

 What is the CEO of Sinotrans'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
Guanpeng Li
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:

2.6
Average Tenure
52
Average Age
  • The tenure for the Sinotrans management team is about average.
Management Team

Guanpeng Li

TITLE
Executive Chairman & President
COMPENSATION
CN¥2M
AGE
52
TENURE
5.2 yrs

Lin Wang

TITLE
Senior Advisor & Executive Director
COMPENSATION
CN¥2M
AGE
59

Xueming Wu

TITLE
VP & Executive Director
COMPENSATION
CN¥1M
AGE
55
TENURE
8.7 yrs

Dexing Song

TITLE
Vice Chairman
AGE
55

Jiuyun Wang

TITLE
Chief Financial Officer
AGE
52
TENURE
2.3 yrs

Xiang Gao

TITLE
Chief Information Officer
AGE
46
TENURE
2.6 yrs

Rong Song

TITLE
VP & Executive Director
AGE
46
TENURE
3.3 yrs

Shichu Li

TITLE
Joint Company Secretary
AGE
48
TENURE
2.3 yrs

Shirley Hui

TITLE
Joint Company Secretary
AGE
50
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the Sinotrans board of directors in years:

0.8
Average Tenure
55
Average Age
  • The average tenure for the Sinotrans board of directors is less than 3 years, this suggests a new board.
Board of Directors

Guanpeng Li

TITLE
Executive Chairman & President
COMPENSATION
CN¥2M
AGE
52
TENURE
0.2 yrs

Lin Wang

TITLE
Senior Advisor & Executive Director
COMPENSATION
CN¥2M
AGE
59
TENURE
5.1 yrs

Xueming Wu

TITLE
VP & Executive Director
COMPENSATION
CN¥1M
AGE
55
TENURE
3.8 yrs

Dexing Song

TITLE
Vice Chairman
AGE
55
TENURE
0.8 yrs

Rong Song

TITLE
VP & Executive Director
AGE
46
TENURE
0.8 yrs

Taiwen Wang

TITLE
Independent Non-Executive Director
AGE
72
TENURE
1.3 yrs

Yan Meng

TITLE
Independent Non-Executive Director
AGE
63
TENURE
0.8 yrs

Qian Li

TITLE
Independent Non-Executive Director
AGE
50
TENURE
0.8 yrs

Jerry Hsu

TITLE
Non-Executive Director
AGE
67
TENURE
15.8 yrs

Haiqing Song

TITLE
Independent Non-Executive Director
AGE
40
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
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
X
Management checks
We assess Sinotrans'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. 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 -

Is 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 -

Who 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 -

Should 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 -

Sinotrans 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 -

An 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 -

Should 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 -

Sinotrans 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 -

Should 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 -

Is 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 -

Company 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
Staff numbers
36,441
Sinotrans employees.
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.