SEHK:392

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Beijing Enterprises Holdings

Executive Summary

Beijing Enterprises Holdings Limited, an investment holding company, engages in piped gas, brewery, water and environmental, solid waste treatment, and other businesses primarily in Mainland China. More Details


Snowflake Analysis

Very undervalued established dividend payer.

Share Price & News

How has Beijing Enterprises Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 392's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-0.9%

392

0.2%

HK Gas Utilities

-1.6%

HK Market


1 Year Return

-35.0%

392

-20.7%

HK Gas Utilities

-1.3%

HK Market

Return vs Industry: 392 underperformed the Hong Kong Gas Utilities industry which returned -21.3% over the past year.

Return vs Market: 392 underperformed the Hong Kong Market which returned -2.3% over the past year.


Shareholder returns

392IndustryMarket
7 Day-0.9%0.2%-1.6%
30 Day-8.8%-2.5%-5.1%
90 Day-15.9%-8.0%-2.5%
1 Year-32.2%-35.0%-18.5%-20.7%2.7%-1.3%
3 Year-40.8%-46.2%2.5%-4.4%-10.2%-20.0%
5 Year-45.6%-52.8%35.0%20.9%11.4%-7.6%

Price Volatility Vs. Market

How volatile is Beijing Enterprises Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Beijing Enterprises Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 392 (HK$23.25) is trading below our estimate of fair value (HK$76.96)

Significantly Below Fair Value: 392 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 392 is good value based on its PE Ratio (4.3x) compared to the HK Gas Utilities industry average (12x).

PE vs Market: 392 is good value based on its PE Ratio (4.3x) compared to the Hong Kong market (11.1x).


Price to Earnings Growth Ratio

PEG Ratio: 392 is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: 392 is good value based on its PB Ratio (0.4x) compared to the HK Gas Utilities industry average (1.2x).


Next Steps

Future Growth

How is Beijing Enterprises Holdings forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

7.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 392's forecast earnings growth (7.6% per year) is above the savings rate (1.6%).

Earnings vs Market: 392's earnings (7.6% per year) are forecast to grow slower than the Hong Kong market (22.4% per year).

High Growth Earnings: 392's earnings are forecast to grow, but not significantly.

Revenue vs Market: 392's revenue (2% per year) is forecast to grow slower than the Hong Kong market (13.2% per year).

High Growth Revenue: 392's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 392's Return on Equity is forecast to be low in 3 years time (9.3%).


Next Steps

Past Performance

How has Beijing Enterprises Holdings performed over the past 5 years?

7.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 392 has high quality earnings.

Growing Profit Margin: 392's current net profit margins (10.5%) are lower than last year (11.9%).


Past Earnings Growth Analysis

Earnings Trend: 392's earnings have grown by 7.8% per year over the past 5 years.

Accelerating Growth: 392's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 392 had negative earnings growth (-14.6%) over the past year, making it difficult to compare to the Gas Utilities industry average (-0.2%).


Return on Equity

High ROE: 392's Return on Equity (8.3%) is considered low.


Next Steps

Financial Health

How is Beijing Enterprises Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 392's short term assets (HK$42.8B) do not cover its short term liabilities (HK$49.2B).

Long Term Liabilities: 392's short term assets (HK$42.8B) do not cover its long term liabilities (HK$52.2B).


Debt to Equity History and Analysis

Debt Level: 392's debt to equity ratio (76.1%) is considered high.

Reducing Debt: 392's debt to equity ratio has increased from 51.4% to 76.1% over the past 5 years.

Debt Coverage: 392's debt is not well covered by operating cash flow (9.9%).

Interest Coverage: 392's interest payments on its debt are not well covered by EBIT (2.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Beijing Enterprises Holdings's current dividend yield, its reliability and sustainability?

4.90%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 392's dividend (4.9%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.31%).

High Dividend: 392's dividend (4.9%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.03%).


Stability and Growth of Payments

Stable Dividend: 392's dividends per share have been stable in the past 10 years.

Growing Dividend: 392's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (20.9%), 392's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 392's dividends in 3 years are forecast to be well covered by earnings (20.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.7yrs

Average management tenure


CEO

Zibo Hou (54 yo)

3.08yrs

Tenure

HK$1,757,000

Compensation

Mr. Zibo Hou has been the Chairman of the Board and Chief Executive Officer of Beijing Enterprises Holdings Limited since September 1, 2017. Mr. Hou serves as Vice Chairman and General Manager of Beijing E ...


CEO Compensation Analysis

Compensation vs Market: Zibo's total compensation ($USD226.71K) is below average for companies of similar size in the Hong Kong market ($USD549.68K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Zibo Hou
Chairman & CEO3.08yrsHK$1.76mno data
Yongcheng Li
Vice Chairman4.58yrsHK$1.45mno data
Chun Fai Tam
CFO, Company Secretary & Executive Director13.42yrsHK$2.40m0.00016%
HK$ 46.9k
Xinhao Jiang
VP & Executive Director13.42yrsHK$1.45m0.0016%
HK$ 463.6k
Xiaodong Zhao
Vice Chairman3.08yrsHK$180.00kno data
Xiaoye Zhi
Vice President6.25yrsno datano data

4.7yrs

Average Tenure

54.5yo

Average Age

Experienced Management: 392's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Zibo Hou
Chairman & CEO3.08yrsHK$1.76mno data
Yongcheng Li
Vice Chairman4.58yrsHK$1.45mno data
Chun Fai Tam
CFO, Company Secretary & Executive Director13.42yrsHK$2.40m0.00016%
HK$ 46.9k
Xinhao Jiang
VP & Executive Director13.42yrsHK$1.45m0.0016%
HK$ 463.6k
Xiaodong Zhao
Vice Chairman3.08yrsHK$180.00kno data
Sun Say Yu
Independent Non-Executive Director6.58yrsHK$300.00kno data
Jie Si Wu
Independent Non-Executive Director16.25yrsHK$300.00kno data
Hoi Ham Lam
Independent Non-Executive Director12.58yrsHK$300.00kno data
Chi Ching Sze
Independent Non-Executive Director7.58yrsHK$300.00kno data

7.6yrs

Average Tenure

58yo

Average Age

Experienced Board: 392's board of directors are considered experienced (7.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Beijing Enterprises Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Beijing Enterprises Holdings Limited
  • Ticker: 392
  • Exchange: SEHK
  • Founded: 1997
  • Industry: Gas Utilities
  • Sector: Utilities
  • Market Cap: HK$29.343b
  • Shares outstanding: 1.26b
  • Website: https://www.behl.com.hk

Number of Employees


Location

  • Beijing Enterprises Holdings Limited
  • Central Plaza
  • 66th Floor
  • Wan Chai
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BJIN.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMay 1997
BJEBDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMay 1997
392SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDMay 1997
392SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDMay 1997
392SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDMay 1997

Biography

Beijing Enterprises Holdings Limited, an investment holding company, engages in piped gas, brewery, water and environmental, solid waste treatment, and other businesses primarily in Mainland China. Its Pip ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/01 12:46
End of Day Share Price2020/09/30 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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