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Tianjin Jinran Public Utilities

SEHK:1265
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1265
SEHK
HK$2B
Market Cap
  1. Home
  2. HK
  3. Utilities
Company description

Tianjin Jinran Public Utilities Company Limited engages in the operation and management of gas pipeline infrastructure, and the sale and distribution of piped gas to industrial and residential users in Mainland China. The last earnings update was 193 days ago. More info.


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1265 Share Price and Events
7 Day Returns
-1.2%
SEHK:1265
-2.4%
HK Gas Utilities
0.5%
HK Market
1 Year Returns
32.3%
SEHK:1265
12.4%
HK Gas Utilities
-6.9%
HK Market
1265 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tianjin Jinran Public Utilities (1265) -1.2% -6.8% 7.9% 32.3% 18.8% -47.4%
HK Gas Utilities -2.4% -2.1% 8.9% 12.4% 70.4% 44.6%
HK Market 0.5% 0.7% 14% -6.9% 30.2% 18.6%
1 Year Return vs Industry and Market
  • 1265 outperformed the Gas Utilities industry which returned 12.4% over the past year.
  • 1265 outperformed the Market in Hong Kong which returned -6.9% over the past year.
Price Volatility
1265
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Tianjin Jinran Public Utilities's competitors could be found in our database.

1265 Value

 Is Tianjin Jinran Public Utilities 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 Tianjin Jinran Public Utilities 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 Tianjin Jinran Public Utilities.

SEHK:1265 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 6.8%
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:1265
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Gas Utilities Unlevered Beta Simply Wall St/ S&P Global 0.37
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.37 (1 + (1- 25%) (0%))
0.578
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.8 * 5.96%)
6.77%

Discounted Cash Flow Calculation for SEHK:1265 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tianjin Jinran Public Utilities 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:1265 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 6.77%)
2019 90.92 Est @ -5.7% 85.16
2020 87.84 Est @ -3.39% 77.05
2021 86.28 Est @ -1.77% 70.89
2022 85.73 Est @ -0.64% 65.97
2023 85.86 Est @ 0.15% 61.88
2024 86.47 Est @ 0.71% 58.36
2025 87.42 Est @ 1.1% 55.26
2026 88.61 Est @ 1.37% 52.46
2027 89.99 Est @ 1.56% 49.90
2028 91.52 Est @ 1.69% 47.53
Present value of next 10 years cash flows CN¥624.45
SEHK:1265 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥91.52 × (1 + 2%) ÷ (6.77% – 2%)
CN¥1,957.82
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥1,957.82 ÷ (1 + 6.77%)10
CN¥1,016.81
SEHK:1265 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥624.45 + CN¥1,016.81
CN¥1,641.27
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥1,641.27 / 1,839.31
CN¥0.89
SEHK:1265 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1265)
1.168
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0.89 x 1.168
HK$1.04
Value per share (HKD) From above. HK$1.04
Current discount Discount to share price of HK$0.82
= -1 x (HK$0.82 - HK$1.04) / HK$1.04
21.3%

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

Current Discount
Amount off the current price Tianjin Jinran Public Utilities is available for.
Intrinsic value
21%
Share price is HK$0.82 vs Future cash flow value of HK$1.04
Current Discount Checks
For Tianjin Jinran Public Utilities to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tianjin Jinran Public Utilities's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tianjin Jinran Public Utilities's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tianjin Jinran Public Utilities's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tianjin Jinran Public Utilities's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1265 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in CNY CN¥0.02
SEHK:1265 Share Price ** SEHK (2019-03-25) in HKD HK$0.82
SEHK:1265 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.856 CN¥0.7
Hong Kong Gas Utilities Industry PE Ratio Median Figure of 13 Publicly-Listed Gas Utilities Companies 18.98x
Hong Kong Market PE Ratio Median Figure of 1,494 Publicly-Listed Companies 11.02x

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

** Primary Listing of Tianjin Jinran Public Utilities.

SEHK:1265 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1265 Share Price ÷ EPS (both in CNY)

= 0.7 ÷ 0.02

42.6x

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

  • Tianjin Jinran Public Utilities is overvalued based on earnings compared to the HK Gas Utilities industry average.
  • Tianjin Jinran Public Utilities is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Tianjin Jinran Public Utilities's expected growth come at a high price?
Raw Data
SEHK:1265 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 42.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
29.8%per year
Hong Kong Gas Utilities Industry PEG Ratio Median Figure of 8 Publicly-Listed Gas Utilities Companies 1.35x
Hong Kong Market PEG Ratio Median Figure of 471 Publicly-Listed Companies 0.81x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Tianjin Jinran Public Utilities, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tianjin Jinran Public Utilities's assets?
Raw Data
SEHK:1265 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in CNY CN¥0.95
SEHK:1265 Share Price * SEHK (2019-03-25) in HKD HK$0.82
SEHK:1265 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.856 CN¥0.7
Hong Kong Gas Utilities Industry PB Ratio Median Figure of 14 Publicly-Listed Gas Utilities Companies 1.44x
Hong Kong Market PB Ratio Median Figure of 2,139 Publicly-Listed Companies 0.99x
SEHK:1265 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1265 Share Price ÷ Book Value per Share (both in CNY)

= 0.7 ÷ 0.95

0.74x

* Primary Listing of Tianjin Jinran Public Utilities.

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

  • Tianjin Jinran Public Utilities is good value based on assets compared to the HK Gas Utilities industry average.
X
Value checks
We assess Tianjin Jinran Public Utilities'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 Gas Utilities 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 Gas Utilities industry average (and greater than 0)? (1 check)
  5. Tianjin Jinran Public Utilities has a total score of 2/6, 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.

1265 Future Performance

 How is Tianjin Jinran Public Utilities expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Tianjin Jinran Public Utilities, future earnings growth has been estimated based on fundamentals.
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
29.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tianjin Jinran Public Utilities expected to grow at an attractive rate?
  • Tianjin Jinran Public Utilities's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Tianjin Jinran Public Utilities's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare Tianjin Jinran Public Utilities's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1265 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1265 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 29.8%
Hong Kong Gas Utilities Industry Earnings Growth Rate Market Cap Weighted Average 10%
Hong Kong Gas Utilities Industry Revenue Growth Rate Market Cap Weighted Average 10.2%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 12%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.1%

*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:1265 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1265 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-06-30 1,523 145 30
2018-03-31 1,496 42 35
2017-12-31 1,469 -62 40
2017-09-30 1,386 -37 36
2017-06-30 1,303 -11 33
2017-03-31 1,250 69 35
2016-12-31 1,198 149 38
2016-09-30 1,208 38
2016-06-30 1,218 151 39
2016-03-31 1,271 126 39
2015-12-31 1,323 101 39
2015-09-30 1,398 56

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tianjin Jinran Public Utilities's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Tianjin Jinran Public Utilities is high growth as no revenue estimate data is available.
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:1265 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Tianjin Jinran Public Utilities Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1265 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-06-30 0.02
2018-03-31 0.02
2017-12-31 0.02
2017-09-30 0.02
2017-06-30 0.02
2017-03-31 0.02
2016-12-31 0.02
2016-09-30 0.02
2016-06-30 0.02
2016-03-31 0.02
2015-12-31 0.02
2015-09-30 0.03

*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.
  • Unable to establish if Tianjin Jinran Public Utilities will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Tianjin Jinran Public Utilities's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tianjin Jinran Public Utilities has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

1265 Past Performance

  How has Tianjin Jinran Public Utilities performed over the past 5 years?

  • Tianjin Jinran Public Utilities's last earnings update was 193 days ago.
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 Tianjin Jinran Public Utilities's growth in the last year to its industry (Gas Utilities).
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.
  • Tianjin Jinran Public Utilities's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Tianjin Jinran Public Utilities's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Tianjin Jinran Public Utilities's 1-year earnings growth is negative, it can't be compared to the HK Gas Utilities industry average.
Earnings and Revenue History
Tianjin Jinran Public Utilities'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 Tianjin Jinran Public Utilities Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1265 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 1,522.99 30.30 34.83
2018-03-31 1,496.08 35.19 34.37
2017-12-31 1,469.16 40.07 33.91
2017-09-30 1,385.85 35.96 29.65
2017-06-30 1,302.53 32.86 24.37
2017-03-31 1,250.34 35.26 23.96
2016-12-31 1,198.15 37.66 23.54
2016-09-30 1,208.18 38.12 23.68
2016-06-30 1,218.22 38.57 24.27
2016-03-31 1,270.53 38.96 25.06
2015-12-31 1,322.84 39.36 25.85
2015-09-30 1,398.39 56.08 25.52
2015-06-30 1,473.69 72.84 24.73
2015-03-31 1,461.24 72.41 24.74
2014-12-31 1,448.79 71.98 24.75
2014-09-30 1,417.46 62.75 24.90
2014-06-30 1,378.53 65.59 23.48
2014-03-31 1,432.90 79.95 23.91
2013-12-31 1,487.28 94.32 24.33
2013-09-30 1,516.80 104.95 24.37
2013-06-30 1,538.96 123.34 24.04
2013-03-31 1,538.95 121.46 23.26
2012-12-31 1,538.94 119.58 22.48
2012-09-30 1,565.89 125.01 27.38
2012-06-30 1,510.77 119.91 29.81
2012-03-31 1,284.39 105.41 29.63

*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.
  • Tianjin Jinran Public Utilities has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • It is difficult to establish if Tianjin Jinran Public Utilities has efficiently used its assets last year compared to the HK Gas Utilities industry average (Return on Assets) as it is loss-making.
  • Tianjin Jinran Public Utilities's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tianjin Jinran Public Utilities'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 Gas Utilities 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.
Tianjin Jinran Public Utilities has a total score of 0/6, 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.

1265 Health

 How is Tianjin Jinran Public Utilities'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 Tianjin Jinran Public Utilities's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tianjin Jinran Public Utilities is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tianjin Jinran Public Utilities's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tianjin Jinran Public Utilities'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.
  • Tianjin Jinran Public Utilities has no debt, it does not need to be covered by short term assets.
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 Tianjin Jinran Public Utilities Company Filings, last reported 8 months ago.

SEHK:1265 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 1,736.79 0.00 1,165.33
2018-03-31 1,736.79 0.00 1,165.33
2017-12-31 1,745.54 0.00 1,095.24
2017-09-30 1,745.54 0.00 1,095.24
2017-06-30 1,738.93 0.00 1,011.08
2017-03-31 1,738.93 0.00 1,011.08
2016-12-31 1,707.05 0.00 1,146.22
2016-09-30 1,707.05 0.00 1,146.22
2016-06-30 1,705.99 0.00 1,015.70
2016-03-31 1,705.99 0.00 1,015.70
2015-12-31 1,670.28 0.00 1,013.74
2015-09-30 1,670.28 0.00 1,013.74
2015-06-30 1,670.23 0.00 860.11
2015-03-31 1,670.23 0.00 860.11
2014-12-31 1,633.92 0.00 810.51
2014-09-30 1,633.92 0.00 886.21
2014-06-30 1,605.06 0.00 634.06
2014-03-31 1,605.06 0.00 634.06
2013-12-31 1,567.80 0.00 540.21
2013-09-30 1,570.78 0.00 540.21
2013-06-30 1,553.11 0.00 397.13
2013-03-31 1,553.11 0.00 397.13
2012-12-31 1,519.43 0.00 374.60
2012-09-30 1,519.43 0.00 374.60
2012-06-30 1,462.36 0.00 220.90
2012-03-31 1,462.36 0.00 220.90
  • Tianjin Jinran Public Utilities has no debt.
  • Tianjin Jinran Public Utilities has not taken on any debt in the past 5 years.
  • Tianjin Jinran Public Utilities has no debt, it does not need to be covered by operating cash flow.
  • Tianjin Jinran Public Utilities has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Tianjin Jinran Public Utilities'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. Tianjin Jinran Public Utilities has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

1265 Dividends

 What is Tianjin Jinran Public Utilities'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
2.42%
Current annual income from Tianjin Jinran Public Utilities dividends.
If you bought HK$2,000 of Tianjin Jinran Public Utilities shares you are expected to receive HK$48 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?
  • Tianjin Jinran Public Utilities's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2%).
  • Tianjin Jinran Public Utilities's dividend is below the markets top 25% of dividend payers in Hong Kong (5.3%).
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:1265 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 0 Analyst Estimates (S&P Global) See Below
Hong Kong Gas Utilities Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 1.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 934 Stocks 3.5%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

SEHK:1265 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-05-10 0.017 2.452
2014-09-18 0.000 0.000
2014-08-29 0.000 0.000
2014-04-29 0.000 0.000
2014-03-27 0.000 0.000
2013-04-29 0.016 0.988

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

  • Whilst dividend payments have been stable, Tianjin Jinran Public Utilities has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Tianjin Jinran Public Utilities only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Tianjin Jinran Public Utilities's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Tianjin Jinran Public Utilities'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 Tianjin Jinran Public Utilities afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tianjin Jinran Public Utilities has a total score of 1/6, see the detailed checks below.


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

1265 Management

 What is the CEO of Tianjin Jinran Public Utilities'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
Quan Wang
AGE 54
TENURE AS CEO 0.9 years
CEO Bio

Mr. Quan Hong Wang has been General Manager of Tianjin Jinran Public Utilitie since April 19, 2018 and as its Executive Director since June 26, 2018. He graduated from Tianjin Open University in 1988, majoring in industrial enterprise management. He was educated at the Party School of the Central Committee of the Communist Party of China (“CPC”) majoring in political science and law from 1998 to 2000. He was also educated at Tianjin Chengjian University, formerly known as Tianjin Urban Construction Institute, majoring in building environment and equipment engineering from March 2007 to July 2009. He is a senior political worker and a safety engineer. From 2003 to 2013, Mr. Wang held various positions in Tianjin Gas Group Company Limited, “Tianjin Gas”). From November 2013 to September 2015, he served as the manager and deputy manager of the safety and environmental protection department as well as the director of the safety supervision office in Tianjin Energy Investment Company Limited. From September 2015 to 2017, Mr. Wang was the deputy manager of Tianjin Gangyi Heat Supply Company Limited being a subsidiary of Tianjin Gas. Since 2017, he has served as the deputy manager in Tianjin Heat Company Limited, a subsidiary of Tianjin Gas.

CEO Compensation
  • Insufficient data for Quan to compare compensation growth.
  • Insufficient data for Quan to establish whether their remuneration is reasonable compared to companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Tianjin Jinran Public Utilities management team in years:

0.9
Average Tenure
46
Average Age
  • The average tenure for the Tianjin Jinran Public Utilities management team is less than 2 years, this suggests a new team.
Management Team

Jie Tang

TITLE
Executive Director
COMPENSATION
CN¥50K
AGE
50

Wei Zhao

TITLE
Chairman of the Board
AGE
54

Quan Wang

TITLE
General Manager & Executive Director
AGE
54
TENURE
0.9 yrs

Xin Ma

TITLE
Head of Financial Department
AGE
35
TENURE
6.2 yrs

Xue Sun

TITLE
Deputy General Manager
COMPENSATION
CN¥234K
AGE
42
TENURE
13.2 yrs

Zhi Hua Zhang

TITLE
Chief Engineer
AGE
59
TENURE
10.9 yrs

Caiping Sha

TITLE
Deputy General Manager
AGE
42
TENURE
0.1 yrs

Kwok Yin Lau

TITLE
Company Secretary
AGE
33
TENURE
0.8 yrs

Li An

TITLE
Financial Controller
TENURE
0.9 yrs
Board of Directors Tenure

Average tenure and age of the Tianjin Jinran Public Utilities board of directors in years:

3.8
Average Tenure
52
Average Age
  • The tenure for the Tianjin Jinran Public Utilities board of directors is about average.
Board of Directors

Jie Tang

TITLE
Executive Director
COMPENSATION
CN¥50K
AGE
50
TENURE
17.3 yrs

Wei Zhao

TITLE
Chairman of the Board
AGE
54
TENURE
0.8 yrs

Quan Wang

TITLE
General Manager & Executive Director
AGE
54
TENURE
0.8 yrs

Ying Zhang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥25K
AGE
68
TENURE
3.8 yrs

Jia Guo

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥25K
AGE
60
TENURE
3.8 yrs

Shuang Hou

TITLE
Non Executive Director
AGE
49
TENURE
5 yrs

Jian Yu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥25K
AGE
54
TENURE
3.8 yrs

Jing Wang

TITLE
Non Executive Director
AGE
49
TENURE
0.8 yrs

Heng Zhao

TITLE
Non-Executive Director
AGE
49
TENURE
0.8 yrs

Li Hao

TITLE
Staff Representative Supervisor
COMPENSATION
CN¥173K
AGE
48
TENURE
11.8 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$) Value (HK$)
06. Jul 18 Buy China Alpha Fund Management Limited Company 05. Jul 18 05. Jul 18 1,910,000 HK$0.95 HK$1,805,140
X
Management checks
We assess Tianjin Jinran Public Utilities'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. Tianjin Jinran Public Utilities 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.

1265 News

Simply Wall St News

Should You Buy Tianjin Jinran Public Utilities Company Limited (HKG:1265) For Its 2.4% Dividend?

Historically, Tianjin Jinran Public Utilities Company Limited (HKG:1265) has paid dividends to shareholders, and these days it yields 2.4%. … Let's dig deeper into whether Tianjin Jinran Public Utilities should have a place in your portfolio. … Check out our latest analysis for Tianjin Jinran Public Utilities

Simply Wall St -

Before You Buy Tianjin Jinran Public Utilities Company Limited (HKG:1265), Consider Its Volatility

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Is Tianjin Jinran Public Utilities Company Limited's (HKG:1265) Balance Sheet Strong Enough To Weather A Storm?

However, it also faces higher cost of capital given interest cost is generally lower than equity. … Is 1265 growing fast enough to value financial flexibility over lower cost of capital … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital.

Simply Wall St -

Should You Worry About Tianjin Jinran Public Utilities Company Limited’s (HKG:1265) ROCE?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Should You Buy Tianjin Jinran Public Utilities Company Limited (HKG:1265) For Its Dividend?

Historically, Tianjin Jinran Public Utilities Company Limited (HKG:1265) has paid a dividend to shareholders. … Let's take a look at Tianjin Jinran Public Utilities in more detail. … See our latest analysis for Tianjin Jinran Public Utilities

Simply Wall St -

What Kind Of Share Price Volatility Should You Expect For Tianjin Jinran Public Utilities Company Limited (HKG:1265)?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Where Tianjin Jinran Public Utilities Company Limited's (HKG:1265) Earnings Growth Stands Against Its Industry

Assessing Tianjin Jinran Public Utilities Company Limited's (HKG:1265) past track record of performance is an insightful exercise for investors. … Today I will assess 1265's recent performance announced on 31 December 2017 and evaluate these figures to its long-term trend and industry movements. … See our latest analysis for Tianjin Jinran Public Utilities?

Simply Wall St -

Is Tianjin Jinran Public Utilities Company Limited (HKG:1265) Attractive At This PE Ratio?

Tianjin Jinran Public Utilities Company Limited (HKG:1265) trades with a trailing P/E of 38.3x, which is higher than the industry average of 22.9x. … While 1265 might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … Check out our latest analysis for Tianjin Jinran Public Utilities

Simply Wall St -

Be Careful About Buying Tianjin Jinran Public Utilities Company Limited (HKG:1265) For The 2.08% Dividend

Tianjin Jinran Public Utilities Company Limited (HKG:1265) has returned to shareholders over the past 5 years, an average dividend yield of 1.00% annually. … Let's dig deeper into whether Tianjin Jinran Public Utilities should have a place in your portfolio. … See our latest analysis for Tianjin Jinran Public Utilities

Simply Wall St -

Why Tianjin Jinran Public Utilities Company Limited (HKG:1265) May Not Be As Efficient As Its Industry

and want to begin learning the link between Tianjin Jinran Public Utilities Company Limited (HKG:1265)’s return fundamentals and stock market performance. … Tianjin Jinran Public Utilities Company Limited (HKG:1265) generated a below-average return on equity of 2.22% in the past 12 months, while its industry returned 13.31%. … Knowing these components can change your views on 1265's below-average returns

Simply Wall St -

1265 Company Info

Description

Tianjin Jinran Public Utilities Company Limited engages in the operation and management of gas pipeline infrastructure, and the sale and distribution of piped gas to industrial and residential users in Mainland China. It also provides piped gas connection services in Tianjin City and Jining, Inner Mongolia; transports gas; and sells gas appliances. The company was formerly known as Tianjin Tianlian Public Utilities Company Limited and changed its name to Tianjin Jinran Public Utilities Company Limited in June 2012. The company is headquartered in Tianjin, the People's Republic of China. Tianjin Jinran Public Utilities Company Limited is a subsidiary of Tianjin Gas Group Company Limited.

Details
Name: Tianjin Jinran Public Utilities Company Limited
1265
Exchange: SEHK
Founded:
HK$1,526,625,474
1,839,307,800
Website: http://www.jinrangongyong.com
Address: Tianjin Jinran Public Utilities Company Limited
Gangao Tower,
Floor 9,
Tianjin,
300050,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1265 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 12. Apr 2011
Number of employees
Current staff
Staff numbers
835
Tianjin Jinran Public Utilities employees.
Industry
Gas Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/25 12:48
End of day share price update: 2019/03/25 00:00
Last earnings filing: 2018/09/13
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.