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China Ruifeng Renewable Energy Holdings

SEHK:527
Snowflake Description

Mediocre balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
527
SEHK
HK$747M
Market Cap
  1. Home
  2. HK
  3. Utilities
Company description

China Ruifeng Renewable Energy Holdings Limited, an investment holding company, engages in the wind power generation business in the People’s Republic of China. The last earnings update was 95 days ago. More info.


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  • China Ruifeng Renewable Energy Holdings has significant price volatility in the past 3 months.
527 Share Price and Events
7 Day Returns
-5.7%
SEHK:527
-0.1%
HK Renewable Energy
0.8%
HK Market
1 Year Returns
-32%
SEHK:527
-18.2%
HK Renewable Energy
-4.4%
HK Market
527 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Ruifeng Renewable Energy Holdings (527) -5.7% -15.3% -17% -32% -40.7% -72.5%
HK Renewable Energy -0.1% -1.1% -6.3% -18.2% -12.7% -49.1%
HK Market 0.8% 0.3% -7.4% -4.4% 17.8% 1.7%
1 Year Return vs Industry and Market
  • 527 underperformed the Renewable Energy industry which returned -18.2% over the past year.
  • 527 underperformed the Market in Hong Kong which returned -4.4% over the past year.
Price Volatility
527
Industry
5yr Volatility vs Market

527 Value

 Is China Ruifeng Renewable Energy Holdings 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 China Ruifeng Renewable Energy Holdings 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 China Ruifeng Renewable Energy Holdings.

SEHK:527 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 9.8%
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:527
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Renewable Energy Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.471 (1 + (1- 25%) (223.94%))
1.175
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.175 * 6.65%)
9.82%

Discounted Cash Flow Calculation for SEHK:527 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China Ruifeng Renewable Energy Holdings 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:527 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 9.82%)
2020 53.45 Est @ -11.53% 48.67
2021 49.46 Est @ -7.47% 41.01
2022 47.17 Est @ -4.63% 35.62
2023 45.93 Est @ -2.64% 31.58
2024 45.36 Est @ -1.25% 28.40
2025 45.24 Est @ -0.27% 25.79
2026 45.42 Est @ 0.41% 23.58
2027 45.83 Est @ 0.89% 21.66
2028 46.39 Est @ 1.22% 19.97
2029 47.06 Est @ 1.46% 18.45
Present value of next 10 years cash flows CN¥294.72
SEHK:527 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥47.06 × (1 + 2%) ÷ (9.82% – 2%)
CN¥614.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥614.20 ÷ (1 + 9.82%)10
CN¥240.74
SEHK:527 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥294.72 + CN¥240.74
CN¥535.47
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥535.47 / 1,799.14
CN¥0.3
SEHK:527 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:527)
1.135
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0.3 x 1.135
HK$0.34
Value per share (HKD) From above. HK$0.34
Current discount Discount to share price of HK$0.42
= -1 x (HK$0.42 - HK$0.34) / HK$0.34
-22.9%

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

  • The current share price of China Ruifeng Renewable Energy Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 China Ruifeng Renewable Energy Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Ruifeng Renewable Energy Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:527 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥-0.04
SEHK:527 Share Price ** SEHK (2019-07-19) in HKD HK$0.42
SEHK:527 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥0.37
Hong Kong Renewable Energy Industry PE Ratio Median Figure of 24 Publicly-Listed Renewable Energy Companies 9.39x
Hong Kong Market PE Ratio Median Figure of 1,512 Publicly-Listed Companies 10.77x

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

** Primary Listing of China Ruifeng Renewable Energy Holdings.

SEHK:527 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:527 Share Price ÷ EPS (both in CNY)

= 0.37 ÷ -0.04

-10.25x

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

  • China Ruifeng Renewable Energy Holdings is loss making, we can't compare its value to the HK Renewable Energy industry average.
  • China Ruifeng Renewable Energy Holdings is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does China Ruifeng Renewable Energy Holdings's expected growth come at a high price?
Raw Data
SEHK:527 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -10.25x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Hong Kong Renewable Energy Industry PEG Ratio Median Figure of 17 Publicly-Listed Renewable Energy Companies 0.74x
Hong Kong Market PEG Ratio Median Figure of 481 Publicly-Listed Companies 0.8x

*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 China Ruifeng Renewable Energy Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on China Ruifeng Renewable Energy Holdings's assets?
Raw Data
SEHK:527 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥0.35
SEHK:527 Share Price * SEHK (2019-07-19) in HKD HK$0.42
SEHK:527 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥0.37
Hong Kong Renewable Energy Industry PB Ratio Median Figure of 27 Publicly-Listed Renewable Energy Companies 0.66x
Hong Kong Market PB Ratio Median Figure of 2,198 Publicly-Listed Companies 0.92x
SEHK:527 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:527 Share Price ÷ Book Value per Share (both in CNY)

= 0.37 ÷ 0.35

1.05x

* Primary Listing of China Ruifeng Renewable Energy Holdings.

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

  • China Ruifeng Renewable Energy Holdings is overvalued based on assets compared to the HK Renewable Energy industry average.
X
Value checks
We assess China Ruifeng Renewable Energy Holdings'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 Renewable Energy 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 Renewable Energy industry average (and greater than 0)? (1 check)
  5. China Ruifeng Renewable Energy Holdings has a total score of 0/6, 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.

527 Future Performance

 How is China Ruifeng Renewable Energy Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as China Ruifeng Renewable Energy Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
18.4%
Expected Renewable Energy industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Ruifeng Renewable Energy Holdings expected to grow at an attractive rate?
  • Unable to compare China Ruifeng Renewable Energy Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare China Ruifeng Renewable Energy Holdings's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare China Ruifeng Renewable Energy Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:527 Future Growth Rates Data Sources
Data Point Source Value (per year)
Hong Kong Renewable Energy Industry Earnings Growth Rate Market Cap Weighted Average 18.4%
Hong Kong Renewable Energy Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.5%

*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:527 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 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:527 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 361 108 -64
2018-09-30 381 119 -30
2018-06-30 401 129 3
2018-03-31 396 175 -2
2017-12-31 390 220 -7
2017-09-30 367 162 -29
2017-06-30 343 105 -50
2017-03-31 356 126 -44
2016-12-31 369 147 -38
2016-09-30 357 36 -41
2016-06-30 345 -74 -44
2016-03-31 330 -104 -51

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if China Ruifeng Renewable Energy Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if China Ruifeng Renewable Energy Holdings 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:527 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from China Ruifeng Renewable Energy Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:527 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 -0.04
2018-09-30 -0.02
2018-06-30 0.00
2018-03-31 0.00
2017-12-31 0.00
2017-09-30 -0.02
2017-06-30 -0.03
2017-03-31 -0.03
2016-12-31 -0.02
2016-09-30 -0.03
2016-06-30 -0.03
2016-03-31 -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 China Ruifeng Renewable Energy Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of 527’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. China Ruifeng Renewable Energy Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Utilities companies here
  3. China Ruifeng Renewable Energy Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess China Ruifeng Renewable Energy Holdings'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.
China Ruifeng Renewable Energy Holdings has a total score of 0/6, 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.

527 Past Performance

  How has China Ruifeng Renewable Energy Holdings 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 China Ruifeng Renewable Energy Holdings's growth in the last year to its industry (Renewable Energy).
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.
  • China Ruifeng Renewable Energy Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare China Ruifeng Renewable Energy Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare China Ruifeng Renewable Energy Holdings's 1-year growth to the HK Renewable Energy industry average as it is not currently profitable.
Earnings and Revenue History
China Ruifeng Renewable Energy Holdings'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 China Ruifeng Renewable Energy Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:527 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 361.18 -64.21 82.76
2018-09-30 381.21 -30.46 68.90
2018-06-30 401.24 3.30 56.88
2018-03-31 395.62 -1.90 56.32
2017-12-31 390.00 -7.09 53.92
2017-09-30 366.72 -28.66 50.03
2017-06-30 343.44 -50.22 46.14
2017-03-31 356.30 -44.22 47.52
2016-12-31 369.15 -38.22 48.90
2016-09-30 357.08 -41.02 67.14
2016-06-30 345.00 -43.83 85.38
2016-03-31 329.87 -50.90 83.19
2015-12-31 314.73 -57.97 81.00
2015-09-30 333.71 -36.57 56.60
2015-06-30 352.70 -15.17 32.19
2015-03-31 378.98 -15.98 34.16
2014-12-31 405.26 -16.78 36.12
2014-09-30 480.81 -18.38 50.05
2014-06-30 556.36 -19.98 63.97
2014-03-31 579.85 -4.62 62.08
2013-12-31 603.34 10.73 60.19
2013-06-30 258.95 -101.41 26.41
2013-03-31 265.11 -112.33 34.72
2012-12-31 271.27 -123.26 43.03
2012-09-30 633.39 -53.19 74.34

*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.
  • It is difficult to establish if China Ruifeng Renewable Energy Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • China Ruifeng Renewable Energy Holdings used its assets less efficiently than the HK Renewable Energy industry average last year based on Return on Assets.
  • It is difficult to establish if China Ruifeng Renewable Energy Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess China Ruifeng Renewable Energy Holdings'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 Renewable Energy 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.
China Ruifeng Renewable Energy Holdings 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.

527 Health

 How is China Ruifeng Renewable Energy Holdings'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 China Ruifeng Renewable Energy Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Ruifeng Renewable Energy Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • China Ruifeng Renewable Energy Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of China Ruifeng Renewable Energy Holdings'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 not covered by short term assets, assets are 0.4x 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 China Ruifeng Renewable Energy Holdings Company Filings, last reported 6 months ago.

SEHK:527 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 878.52 1,400.39 67.16
2018-09-30 878.52 1,400.39 67.16
2018-06-30 975.35 1,484.09 107.83
2018-03-31 975.35 1,484.09 107.83
2017-12-31 933.77 1,356.66 105.51
2017-09-30 933.77 1,356.66 105.51
2017-06-30 919.51 1,433.06 173.43
2017-03-31 919.51 1,433.06 173.43
2016-12-31 916.48 1,553.53 274.65
2016-09-30 916.48 1,553.53 274.65
2016-06-30 973.38 1,568.63 333.26
2016-03-31 973.38 1,568.63 333.26
2015-12-31 712.03 1,948.84 143.75
2015-09-30 712.03 1,948.84 143.75
2015-06-30 605.70 1,701.65 56.15
2015-03-31 605.70 1,701.65 56.15
2014-12-31 640.38 1,917.33 175.60
2014-09-30 640.38 1,917.33 175.60
2014-06-30 599.35 1,932.04 119.57
2014-03-31 599.35 1,932.04 119.57
2013-12-31 888.57 1,708.19 135.02
2013-06-30 968.90 1,716.88 96.80
2013-03-31 968.90 1,716.88 96.80
2012-12-31 340.26 637.05 160.38
2012-09-30 340.26 637.05 160.38
  • China Ruifeng Renewable Energy Holdings's level of debt (167.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (193.2% vs 167.7% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making China Ruifeng Renewable Energy Holdings has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making China Ruifeng Renewable Energy Holdings has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -113.1% per year.
X
Financial health checks
We assess China Ruifeng Renewable Energy Holdings'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. China Ruifeng Renewable Energy Holdings 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.

527 Dividends

 What is China Ruifeng Renewable Energy Holdings'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
0%
Current annual income from China Ruifeng Renewable Energy Holdings dividends.
If you bought HK$2,000 of China Ruifeng Renewable Energy Holdings shares you are expected to receive HK$0 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?
  • Unable to evaluate China Ruifeng Renewable Energy Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate China Ruifeng Renewable Energy Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:527 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 Renewable Energy Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 3.4%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 978 Stocks 3.6%
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 5.7%

Industry and Market average data is calculated daily.

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

SEHK:527 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2008-09-26 0.000 0.000
2008-09-22 0.000 0.000

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

  • Unable to perform a dividend volatility check as China Ruifeng Renewable Energy Holdings has not reported any payouts.
  • Unable to verify if China Ruifeng Renewable Energy Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of China Ruifeng Renewable Energy Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as China Ruifeng Renewable Energy Holdings has not reported any payouts.
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 China Ruifeng Renewable Energy Holdings'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 China Ruifeng Renewable Energy Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Ruifeng Renewable Energy Holdings has a total score of 0/6, see the detailed checks below.


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

527 Management

 What is the CEO of China Ruifeng Renewable Energy Holdings'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
Zhixiang Zhang
COMPENSATION CN¥3,013,000
AGE 51
TENURE AS CEO 8.9 years
CEO Bio

Mr. Zhixiang Zhang has been the Chief Executive Officer of Galaxy Semi conductor Holdings Limited since August 12, 2010 and serves as its General Manager. Mr. Zhang serves as a Financial Controller of Beijing Zhong Qi Tian Yuan Credit Management Co. Ltd. He served as Financial Controller of CECT-Chinacomm Communications Co. Ltd. Mr. Zhang served in key financial capacities at a variety of companies. He has extensive experience in corporate financial management, audits and financial strategy. Mr. Zhang has been an Executive Director at Galaxy Semi conductor Holdings Ltd. since July 2010. He served as an Independent Director of Orsus Xelent Technologies Inc. since February 07, 2007. Mr. Zhang earned a Bachelor's (Taxation) and a Master's degree (Finance) from the Central University of Finance and Economics in 1991.

CEO Compensation
  • Zhixiang's compensation has increased whilst company is loss making.
  • Zhixiang's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the China Ruifeng Renewable Energy Holdings management team in years:

8.9
Average Tenure
46
Average Age
  • The average tenure for the China Ruifeng Renewable Energy Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Zhixiang Zhang

TITLE
CEO, GM & Executive Director
COMPENSATION
CN¥3M
AGE
51
TENURE
8.9 yrs

Zhongzhi Ning

TITLE
Executive Director
COMPENSATION
CN¥820K
AGE
55

Tian Hai Li

TITLE
Executive Director
COMPENSATION
CN¥1M
AGE
52

Ziwei Peng

TITLE
Executive Director
COMPENSATION
CN¥622K
AGE
32

Gordon Lo

TITLE
CFO & Secretary
AGE
39
TENURE
0.6 yrs

Shaofeng Qu

TITLE
Chief Engineer of Beichen Power Grid
AGE
42

Wang Jian

TITLE
GM & Director of Hongsong
AGE
50
TENURE
18.5 yrs

Guoliang Fan

TITLE
Secretary of the Board of Hongsong
AGE
38
Board of Directors Tenure

Average tenure and age of the China Ruifeng Renewable Energy Holdings board of directors in years:

7.3
Average Tenure
50.5
Average Age
  • The tenure for the China Ruifeng Renewable Energy Holdings board of directors is about average.
Board of Directors

Zhixiang Zhang

TITLE
CEO, GM & Executive Director
COMPENSATION
CN¥3M
AGE
51
TENURE
9 yrs

Zhongzhi Ning

TITLE
Executive Director
COMPENSATION
CN¥820K
AGE
55
TENURE
6.5 yrs

Tian Hai Li

TITLE
Executive Director
COMPENSATION
CN¥1M
AGE
52
TENURE
4 yrs

Ziwei Peng

TITLE
Executive Director
COMPENSATION
CN¥622K
AGE
32
TENURE
3.1 yrs

Wang Jian

TITLE
GM & Director of Hongsong
AGE
50
TENURE
18.5 yrs

Weidong Qu

TITLE
Independent Non Executive Director
COMPENSATION
CN¥127K
AGE
53
TENURE
8.6 yrs

Senlin Jiang

TITLE
Independent Non-Executive Director
AGE
47
TENURE
0.5 yrs

Xiaolin Hu

TITLE
Independent Non Executive Director
COMPENSATION
CN¥127K
AGE
50
TENURE
8.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess China Ruifeng Renewable Energy Holdings'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. China Ruifeng Renewable Energy Holdings 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.

527 News

Simply Wall St News

Do Directors Own China Ruifeng Renewable Energy Holdings Limited (HKG:527) Shares?

View our latest analysis for China Ruifeng Renewable Energy Holdings SEHK:527 Ownership Summary, June 25th 2019 What Does The Lack Of Institutional Ownership Tell Us About China Ruifeng Renewable Energy Holdings? … Insider Ownership Of China Ruifeng Renewable Energy Holdings The definition of an insider can differ slightly between different countries, but members of the board of directors always count. … General Public Ownership The general public, who are mostly retail investors, collectively hold 69% of China Ruifeng Renewable Energy Holdings shares.

Simply Wall St -

What Type Of Shareholder Owns China Ruifeng Renewable Energy Holdings Limited's (HKG:527)?

A look at the shareholders of China Ruifeng Renewable Energy Holdings Limited (HKG:527) can tell us which group is most powerful. … China Ruifeng Renewable Energy Holdings is a smaller company with a market capitalization of HK$990m, so it may still be flying under the radar of many institutional investors. … See our latest analysis for China Ruifeng Renewable Energy Holdings

Simply Wall St -

What Should Investors Know About China Ruifeng Renewable Energy Holdings Limited's (HKG:527) Return On Capital?

Therefore, looking at how efficiently China Ruifeng Renewable Energy Holdings is able to use capital to create earnings will help us understand your potential return. … View our latest analysis for China Ruifeng Renewable Energy Holdings … China Ruifeng Renewable Energy Holdings's Return On Capital Employed

Simply Wall St -

Is China Ruifeng Renewable Energy Holdings Limited's (HKG:527) CEO Paid Enough To Stay Motivated?

Zhixiang Zhang has been the CEO of China Ruifeng Renewable Energy Holdings Limited (HKG:527) since 2010. … At the time of writing our data says that China Ruifeng Renewable Energy Holdings Limited has a market cap of HK$1.0b, and is paying total annual CEO compensation of CN¥2m. … Thus we can conclude that Zhixiang Zhang receives more in total compensation than the median of a group of companies in the same market, and of similar size to China Ruifeng Renewable Energy Holdings Limited

Simply Wall St -

Who Are The Largest Shareholders In China Ruifeng Renewable Energy Holdings Limited (HKG:527)?

In this article, I'm going to take a look at China Ruifeng Renewable Energy Holdings Limited’s (HKG:527) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Ownership structure of a company has been found to affect share performance over time. … Check out our latest analysis for China Ruifeng Renewable Energy Holdings

Simply Wall St -

What Should You Know About China Ruifeng Renewable Energy Holdings Limited's (HKG:527) Return On Capital?

and want to better understand how you can grow your money by investing in China Ruifeng Renewable Energy Holdings Limited (HKG:527). … Buying China Ruifeng Renewable Energy Holdings makes you a partial owner of the company. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided.

Simply Wall St -

Who Really Owns China Ruifeng Renewable Energy Holdings Limited (HKG:527)?

See our latest analysis for China Ruifeng Renewable Energy Holdings SEHK:527 Ownership_summary May 17th 18 Institutional Ownership Institutional investors typically buy and sell shares in large magnitudes which can significantly sway the share price, especially when there are relatively small amounts of shares available on the market to trade. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions. … Next Steps: With a low level of institutional ownership, investors in 527 need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

Simply Wall St -

How Financially Strong Is China Ruifeng Renewable Energy Holdings Limited (HKG:527)?

Additionally, 527 has generated cash from operations of CN¥220.18M during the same period of time, resulting in an operating cash to total debt ratio of 16.23%, meaning that 527’s operating cash is not sufficient to cover its debt. … Looking at 527’s most recent CN¥637.83M liabilities, it appears that the company has been able to meet these obligations given the level of current assets of CN¥684.10M, with a current ratio of 1.07x. … Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate.Next Steps: 527’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

What Should Investors Know About China Ruifeng Renewable Energy Holdings Limited's (HKG:527) Capital Returns?

Thus, to understand how your money can grow by investing in China Ruifeng Renewable Energy Holdings, 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). … View our latest analysis for China Ruifeng Renewable Energy Holdings Calculating Return On Capital Employed for 527 You only have a finite amount of capital to invest, so there are only so many companies that you can add to your portfolio. … To determine China Ruifeng Renewable Energy Holdings's capital return we will use ROCE, which tells us how much the company makes from the capital employed in their operations (for things like machinery, wages etc) 527’s ROCE is calculated below: ROCE Calculation for 527 Return on Capital Employed (ROCE) = Earnings Before Tax (EBT) ÷ (Capital Employed) Capital Employed = (Total Assets - Current Liabilities) ∴ ROCE = CN¥55.84M ÷ (CN¥2.45B - CN¥637.83M) = 3.08% As you can see, 527 added HK$3.1 for every HK$100 you invested over the previous twelve months.

Simply Wall St -

With A -14.59% Earnings Drop, Did China Ruifeng Renewable Energy Holdings Limited (HKG:527) Really Underperform?

Assessing China Ruifeng Renewable Energy Holdings Limited's (SEHK:527) performance as a company requires looking at more than just a years' earnings data. … Below, I will run you through a simple sense check to build perspective on how China Ruifeng Renewable Energy Holdings is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its renewable energy industry peers. … For China Ruifeng Renewable Energy Holdings, its latest earnings (trailing twelve month) is -CN¥50.22M, which, in comparison to the previous year's figure, has become more negative.

Simply Wall St -

527 Company Info

Description

China Ruifeng Renewable Energy Holdings Limited, an investment holding company, engages in the wind power generation business in the People’s Republic of China. The company operates wind farms to generate electricity; produces wind turbine blades and components; offers electrical and mechanical equipment maintenance services; and provides financing and leasing services. It is also involved in the construction, installation, repairing, and testing of power facilities. The company was formerly known as China Ruifeng Galaxy Renewable Energy Holdings Limited and changed its name to China Ruifeng Renewable Energy Holdings Limited in June 2013. China Ruifeng Renewable Energy Holdings Limited was incorporated in 2005 and is based in Wanchai, Hong Kong.

Details
Name: China Ruifeng Renewable Energy Holdings Limited
527
Exchange: SEHK
Founded: 2005
HK$746,643,432
1,799,140,800
Website: http://www.c-ruifeng.com
Address: China Ruifeng Renewable Energy Holdings Limited
Great Eagle Centre,
18th Floor,
Wanchai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 527 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 09. Jun 2006
Number of employees
Current staff
Staff numbers
140
China Ruifeng Renewable Energy Holdings employees.
Industry
Renewable Electricity
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 01:05
End of day share price update: 2019/07/19 00:00
Last earnings filing: 2019/04/18
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.