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Tianjin Tianbao Energy

SEHK:1671
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1671
SEHK
HK$229M
Market Cap
  1. Home
  2. HK
  3. Utilities
Company description

Tianjin Tianbao Energy Co., Ltd. generates and supplies power to the Tianjin Electric Power Company. The last earnings update was 58 days ago. More info.


Add to Portfolio Compare Print
  • Tianjin Tianbao Energy has significant price volatility in the past 3 months.
1671 Share Price and Events
7 Day Returns
-1.4%
SEHK:1671
0.2%
HK Electric Utilities
-0%
HK Market
1 Year Returns
0%
SEHK:1671
7.9%
HK Electric Utilities
-13%
HK Market
1671 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tianjin Tianbao Energy (1671) -1.4% 1.4% -23.1% 0% - -
HK Electric Utilities 0.2% 1.6% 0.2% 7.9% -3.8% 19.3%
HK Market -0% -1.1% -8.6% -13% 18.1% 5.4%
1 Year Return vs Industry and Market
  • 1671 underperformed the Electric Utilities industry which returned 7.9% over the past year.
  • 1671 outperformed the Market in Hong Kong which returned -13% over the past year.
Price Volatility
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Tianjin Tianbao Energy's competitors could be found in our database.

1671 Value

 Is Tianjin Tianbao Energy 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 Tianbao Energy 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 Tianbao Energy.

SEHK:1671 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:1671
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.28
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.28 (1 + (1- 25%) (0%))
0.517
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:1671 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tianjin Tianbao Energy 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:1671 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 6.77%)
2019 41.27 Est @ -6.48% 38.65
2020 39.65 Est @ -3.94% 34.78
2021 38.79 Est @ -2.15% 31.87
2022 38.44 Est @ -0.91% 29.58
2023 38.43 Est @ -0.03% 27.69
2024 38.65 Est @ 0.58% 26.09
2025 39.04 Est @ 1% 24.68
2026 39.55 Est @ 1.3% 23.41
2027 40.14 Est @ 1.51% 22.26
2028 40.81 Est @ 1.66% 21.20
Present value of next 10 years cash flows CN¥280.21
SEHK:1671 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥40.81 × (1 + 2%) ÷ (6.77% – 2%)
CN¥873.09
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥873.09 ÷ (1 + 6.77%)10
CN¥453.45
SEHK:1671 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥280.21 + CN¥453.45
CN¥733.66
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥733.66 / 159.92
CN¥4.59
SEHK:1671 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1671)
1.133
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥4.59 x 1.133
HK$5.2
Value per share (HKD) From above. HK$5.20
Current discount Discount to share price of HK$1.43
= -1 x (HK$1.43 - HK$5.20) / HK$5.20
72.5%

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

Current Discount
Amount off the current price Tianjin Tianbao Energy is available for.
Intrinsic value
>50%
Share price is HK$1.43 vs Future cash flow value of HK$5.2
Current Discount Checks
For Tianjin Tianbao Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tianjin Tianbao Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tianjin Tianbao Energy'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 Tianjin Tianbao Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tianjin Tianbao Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1671 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.18
SEHK:1671 Share Price ** SEHK (2019-06-20) in HKD HK$1.43
SEHK:1671 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.882 CN¥1.26
Hong Kong Electric Utilities Industry PE Ratio Median Figure of 6 Publicly-Listed Electric Utilities Companies 15.56x
Hong Kong Market PE Ratio Median Figure of 1,489 Publicly-Listed Companies 10.66x

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

** Primary Listing of Tianjin Tianbao Energy.

SEHK:1671 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1671 Share Price ÷ EPS (both in CNY)

= 1.26 ÷ 0.18

7.06x

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

  • Tianjin Tianbao Energy is good value based on earnings compared to the HK Electric Utilities industry average.
  • Tianjin Tianbao Energy is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Tianjin Tianbao Energy's expected growth come at a high price?
Raw Data
SEHK:1671 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
4.4%per year
Asia Electric Utilities Industry PEG Ratio Median Figure of 9 Publicly-Listed Electric Utilities Companies 0.99x
Hong Kong Market PEG Ratio Median Figure of 467 Publicly-Listed Companies 0.75x

*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 Tianbao Energy, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tianjin Tianbao Energy's assets?
Raw Data
SEHK:1671 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥1.90
SEHK:1671 Share Price * SEHK (2019-06-20) in HKD HK$1.43
SEHK:1671 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.882 CN¥1.26
Hong Kong Electric Utilities Industry PB Ratio Median Figure of 7 Publicly-Listed Electric Utilities Companies 1.43x
Hong Kong Market PB Ratio Median Figure of 2,171 Publicly-Listed Companies 0.93x
SEHK:1671 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1671 Share Price ÷ Book Value per Share (both in CNY)

= 1.26 ÷ 1.90

0.66x

* Primary Listing of Tianjin Tianbao Energy.

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

  • Tianjin Tianbao Energy is good value based on assets compared to the HK Electric Utilities industry average.
X
Value checks
We assess Tianjin Tianbao Energy'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 Electric 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 Electric Utilities industry average (and greater than 0)? (1 check)
  5. Tianjin Tianbao Energy 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.

1671 Future Performance

 How is Tianjin Tianbao Energy expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Tianjin Tianbao Energy, 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
4.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tianjin Tianbao Energy expected to grow at an attractive rate?
  • Tianjin Tianbao Energy's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Tianjin Tianbao Energy's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare Tianjin Tianbao Energy's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1671 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1671 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 4.4%
Hong Kong Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 0.5%
Asia Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 2.8%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.2%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*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:1671 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 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:1671 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 431 56 26
2018-09-30 441 69 30
2018-06-30 451 82 33
2018-03-31 452 79 32
2017-12-31 452 76 30
2017-09-30 443 72 34
2017-06-30 433 68 37
2017-03-31 433 67 46
2016-12-31 433 67 54

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tianjin Tianbao Energy's earnings are expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Tianjin Tianbao Energy 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:1671 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Tianjin Tianbao Energy Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1671 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.18
2018-09-30 0.22
2018-06-30 0.27
2018-03-31 0.27
2017-12-31 0.26
2017-09-30 0.29
2017-06-30 0.32
2017-03-31 0.40
2016-12-31 0.47

*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 Tianbao Energy will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Tianjin Tianbao Energy'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.
Tianjin Tianbao Energy 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.

1671 Past Performance

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

SEHK:1671 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 431.11 26.35 18.72
2018-09-30 441.04 29.80 17.37
2018-06-30 450.96 33.25 13.18
2018-03-31 451.72 31.76 12.66
2017-12-31 452.47 30.27 14.99
2017-09-30 442.82 33.70 14.21
2017-06-30 433.18 37.14 13.43
2017-03-31 433.03 45.73 11.99
2016-12-31 432.89 54.32 10.55
2015-12-31 478.60 55.04 16.19
2014-12-31 506.43 46.54 16.07

*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.
  • Tianjin Tianbao Energy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tianjin Tianbao Energy used its assets less efficiently than the HK Electric Utilities industry average last year based on Return on Assets.
  • Tianjin Tianbao Energy's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tianjin Tianbao Energy'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 Electric 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 Tianbao Energy 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.

1671 Health

 How is Tianjin Tianbao Energy'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 Tianbao Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tianjin Tianbao Energy is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tianjin Tianbao Energy's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tianjin Tianbao Energy'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 Tianbao Energy 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 Tianbao Energy Company Filings, last reported 5 months ago.

SEHK:1671 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 304.44 0.00 140.40
2018-09-30 304.44 0.00 140.40
2018-06-30 293.83 0.00 201.91
2018-03-31 293.83 0.00 201.91
2017-12-31 244.81 0.00 116.07
2017-09-30 244.81 0.00 116.07
2017-06-30 227.29 24.00 117.78
2017-03-31 227.29 24.00 117.78
2016-12-31 214.53 24.00 94.25
2015-12-31 394.19 0.00 65.59
2014-12-31 467.43 0.00 190.31
  • Tianjin Tianbao Energy has no debt.
  • Tianjin Tianbao Energy currently has no debt however we can't compare to 5 years ago as we have no data for that period.
  • Tianjin Tianbao Energy has no debt, it does not need to be covered by operating cash flow.
  • Tianjin Tianbao Energy has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Tianjin Tianbao Energy'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 Tianbao Energy 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.

1671 Dividends

 What is Tianjin Tianbao Energy'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
6.36%
Current annual income from Tianjin Tianbao Energy dividends.
If you bought HK$2,000 of Tianjin Tianbao Energy shares you are expected to receive HK$127 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 Tianbao Energy's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.1%).
  • Tianjin Tianbao Energy's dividend is above the markets top 25% of dividend payers in Hong Kong (5.95%).
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:1671 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 Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 Stocks 3.7%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.9%

Industry and Market average data is calculated daily.

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

SEHK:1671 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-06-10 0.080 6.079
2019-04-23 0.080 5.627
2019-03-26 0.080 3.938

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

  • It is too early to tell whether Tianjin Tianbao Energy has stable dividend payments.
  • Tianjin Tianbao Energy only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Tianjin Tianbao Energy's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x 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 Tianbao Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Tianbao Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tianjin Tianbao Energy has a total score of 3/6, see the detailed checks below.


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

1671 Management

 What is the CEO of Tianjin Tianbao Energy'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
Cheng Xing
AGE 55
CEO Bio

Mr. Xing Cheng has been the Executive Director and General Manager of Tianjin Tianbao Energy Co., Ltd. since March 2017. Mr. Xing is also incharge of Company’s Haigang Thermal Plant, production technology department, sales centre and safety monitoring department. Mr. Xing joined Tianjin Tianbao Energy Co., Ltd. on February 17, 2016. Mr. Xing has rich experience in thermodynamics. From September 1992 to December 2004, he worked in the Tianjin Port Free Trade Zone Tianbao Thermal Co., Ltd.,responsible for production and general operation. Mr. Xing was head of the thermal department of Tianjin Tianbao Public Facility Co. Ltd. between December 2004 and December 2006, responsible for the operation of thermal power. Mr. Xing joined Tianbao Thermal in December 2006 as an assistant to the general manager and was promoted to vice general manager in September 2008, responsible for the operation of thermoelectricity generation. Mr. Xing left Tianbao Thermal in February 2016. Mr. Xing obtained a bachelor’s degree in mechanical engineering (compression and refrigeration) from the Xi’an Jiaotong University in PRC in July 1986.

CEO Compensation
  • Insufficient data for Cheng to compare compensation growth.
  • Insufficient data for Cheng 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 Tianbao Energy management team in years:

2.4
Average Tenure
46.5
Average Age
  • The tenure for the Tianjin Tianbao Energy management team is about average.
Management Team

Hongxin Gao

TITLE
Chairman of the Board
AGE
52

Cheng Xing

TITLE
Executive Director & General Manager
AGE
55

Chong Peng

TITLE
Executive Director & CFO
AGE
41

Hua Wang

TITLE
Marketing Centre Director
AGE
45
TENURE
2.4 yrs

Yongming Mao

TITLE
Vice General Manager
AGE
49
TENURE
2.4 yrs

Shen Yao

TITLE
Vice General Manager
AGE
47
TENURE
2.4 yrs

Song Qi

TITLE
Head of Power Supply Department
AGE
46
TENURE
2.4 yrs

Pete Lau

TITLE
Company Secretary
AGE
34
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the Tianjin Tianbao Energy board of directors in years:

2.3
Average Tenure
50
Average Age
  • The average tenure for the Tianjin Tianbao Energy board of directors is less than 3 years, this suggests a new board.
Board of Directors

Hongxin Gao

TITLE
Chairman of the Board
AGE
52
TENURE
2.3 yrs

Cheng Xing

TITLE
Executive Director & General Manager
AGE
55
TENURE
2.3 yrs

Chong Peng

TITLE
Executive Director & CFO
AGE
41
TENURE
2.3 yrs

Tsz Bun Lau

TITLE
Independent Non-executive Director
AGE
48
TENURE
1.2 yrs

Xiaofang Xue

TITLE
Chairperson of the Supervisory Board
AGE
52

Yang Yu

TITLE
Non-Executive Director
AGE
40
TENURE
1.6 yrs

Tao Wu

TITLE
Non-Executive Director
AGE
57
TENURE
2.3 yrs

Xiaoping Han

TITLE
Independent Non-executive Director
AGE
62
TENURE
1.2 yrs

Ying Yang

TITLE
Independent Non-Executive Director
AGE
39
TENURE
1.2 yrs

Guoyong Shao

TITLE
Sueprvisor
AGE
40
TENURE
2.4 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Tianjin Tianbao Energy insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
06. May 19 Buy Yun Nan Yuan Individual 06. May 19 06. May 19 408,000 HK$1.77 HK$722,445
02. May 19 Buy Yun Nan Yuan Individual 02. May 19 02. May 19 184,000 HK$1.79 HK$329,599
18. Apr 19 Sell Tianjin Jinlian Investment Shareholding Co.,Ltd. Company 15. Apr 19 15. Apr 19 -2,380,000 HK$2.81 HK$-6,689,710
16. Apr 19 Sell Tianjin Jinlian Investment Shareholding Co.,Ltd. Company 11. Apr 19 11. Apr 19 -2,498,000 HK$3.21 HK$-8,015,583
17. Apr 19 Sell Tianjin Jinlian Investment Shareholding Co.,Ltd. Company 12. Apr 19 12. Apr 19 -4,594,000 HK$2.89 HK$-13,296,412
18. Apr 19 Buy Yun Nan Yuan Individual 18. Apr 19 18. Apr 19 2,752,000 HK$1.93 HK$5,315,496
X
Management checks
We assess Tianjin Tianbao Energy'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 Tianbao Energy 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.

1671 News

Simply Wall St News

Tianjin Tianbao Energy Co., Ltd. (HKG:1671) Earns A Nice Return On Capital Employed

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. … What is 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 -

Do You Like Tianjin Tianbao Energy Co., Ltd. (HKG:1671) At This P/E Ratio?

We'll show how you can use Tianjin Tianbao Energy Co., Ltd.'s (HKG:1671) P/E ratio to inform your assessment of the investment opportunity. … Based on the last twelve months, Tianjin Tianbao Energy's P/E ratio is 10. … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS)

Simply Wall St -

Why You Should Care About Tianjin Tianbao Energy Co., Ltd.’s (HKG:1671) Low Return On Capital

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

What You Must Know About Tianjin Tianbao Energy Co Ltd's (HKG:1671) Financial Strength

The direct benefit for Tianjin Tianbao Energy Co Ltd (HKG:1671), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … However, the trade-off is 1671 will have to adhere to stricter debt covenants and have less financial flexibility. … Is financial flexibility worth the lower cost of capital.

Simply Wall St -

What You Must Know About Tianjin Tianbao Energy Co Ltd's (HKG:1671) ROE

and want to better understand how you can grow your money by investing in Tianjin Tianbao Energy Co Ltd (HKG:1671). … Tianjin Tianbao Energy Co Ltd (HKG:1671) delivered an ROE of 12.37% over the past 12 months, which is relatively in-line with its industry average of 9.89% during the same period. … With more debt, 1671 can invest even more and earn more money, thus pushing up its returns.

Simply Wall St -

With An ROE Of 12.37%, Has Tianjin Tianbao Energy Co Ltd.'s (HKG:1671) Management Done Well?

Check out our latest analysis for Tianjin Tianbao Energy Breaking down Return on Equity Return on Equity (ROE) weighs Tianjin Tianbao Energy’s profit against the level of its shareholders’ equity. … For now, let’s just look at the cost of equity number for Tianjin Tianbao Energy, which is 8.44%. … Since Tianjin Tianbao Energy’s return covers its cost in excess of 3.93%, its use of equity capital is efficient and likely to be sustainable.

Simply Wall St -

1671 Company Info

Description

Tianjin Tianbao Energy Co., Ltd. generates and supplies power to the Tianjin Electric Power Company. It also generates and supplies steam, heating, and cooling to industrial and commercial customers; and purchases, dispatches, and sells electricity. In addition, the company provides power facility construction, and industrial facilities operation and maintenance; trades in electrical components; and manufactures and repairs electrical engineering facilities and devices. It operates two back-pressure cogeneration units with a total installed capacity of 30 megawatts. The company was founded in 1992 and is headquartered in Tianjin, China.

Details
Name: Tianjin Tianbao Energy Co., Ltd.
1671
Exchange: SEHK
Founded: 1992
HK$228,686,897
159,920,907
Website: http://www.tjtbny.com
Address: Tianjin Tianbao Energy Co., Ltd.
No.35, Haibin Road,
No.8, Tianjin Port Free Trade Zone,
Tianjin,
Tianjin Province, 300461,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1671 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 27. Apr 2018
Number of employees
Current staff
Staff numbers
70
Tianjin Tianbao Energy employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/20 13:02
End of day share price update: 2019/06/20 00:00
Last earnings filing: 2019/04/23
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.