Executive Summary
Tianjin Development Holdings Limited, through its subsidiaries, supplies electricity, water, heat, and thermal power to industrial, commercial, and residential customers in the Tianjin Economic and Technological Development Area, the People’s Republic of China.
Snowflake Analysis
Excellent balance sheet and fair value.
Share Price & News
How has Tianjin Development Holdings's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 882 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-2.2%
882
0.4%
HK Integrated Utilities
0.6%
HK Market
1 Year Return
-19.0%
882
-14.7%
HK Integrated Utilities
-0.06%
HK Market
Return vs Industry: 882 underperformed the Hong Kong Integrated Utilities industry which returned -14.7% over the past year.
Return vs Market: 882 underperformed the Hong Kong Market which returned -0.1% over the past year.
Shareholder returns
| 882 | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.2% | 0.4% | 0.6% |
| 30 Day | -2.7% | -8.0% | -3.6% |
| 90 Day | 0.9% | -4.6% | -0.01% |
| 1 Year | -16.2%-19.0% | -11.5%-14.7% | 3.5%-0.06% |
| 3 Year | -39.5%-44.1% | -28.6%-35.6% | 19.5%7.4% |
| 5 Year | -58.4%-63.2% | -21.8%-34.0% | 18.4%-1.4% |
Price Volatility Vs. Market
How volatile is Tianjin Development Holdings's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 days ago | Simply Wall St
How Do Tianjin Development Holdings Limited’s (HKG:882) Returns On Capital Compare To Peers?1 month ago | Simply Wall St
Did Changing Sentiment Drive Tianjin Development Holdings's (HKG:882) Share Price Down A Worrying 67%?1 month ago | Simply Wall St
Does Tianjin Development Holdings Limited (HKG:882) Have A Particularly Volatile Share Price?Valuation
Is Tianjin Development Holdings undervalued compared to its fair value and its price relative to the market?
5.64x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: 882 (HK$2.18) is trading above our estimate of fair value (HK$1.66)
Significantly Below Fair Value: 882 is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: 882 is good value based on its PE Ratio (5.6x) compared to the Integrated Utilities industry average (21x).
PE vs Market: 882 is good value based on its PE Ratio (5.6x) compared to the Hong Kong market (10.2x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate 882's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: 882 is good value based on its PB Ratio (0.2x) compared to the XA Integrated Utilities industry average (0.9x).
Next Steps
Future Growth
How is Tianjin Development Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
16.9%
Forecasted Utilities industry annual growth in earnings
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 Tianjin Development 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 SimplyWall St do have past financial data.
Next Steps
- Examine whether Tianjin Development Holdings is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Tianjin Development Holdings competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Utilities industry.
Past Performance
How has Tianjin Development Holdings performed over the past 5 years?
-17.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 882 has a large one-off gain of HK$246.0M impacting its June 30 2019 financial results.
Growing Profit Margin: 882's current net profit margins (8.5%) are higher than last year (8.2%).
Past Earnings Growth Analysis
Earnings Trend: 882's earnings have declined by -17.3% per year over the past 5 years.
Accelerating Growth: 882's earnings growth over the past year (23.6%) exceeds its 5-year average (-17.3% per year).
Earnings vs Industry: 882 earnings growth over the past year (23.6%) exceeded the Integrated Utilities industry -31.9%.
Return on Equity
High ROE: 882's Return on Equity (5%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Tianjin Development Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: 882's short term assets (HK$9.9B) exceed its short term liabilities (HK$6.0B).
Long Term Liabilities: 882's short term assets (HK$9.9B) exceed its long term liabilities (HK$262.8M).
Debt to Equity History and Analysis
Debt Level: 882's debt to equity ratio (12.9%) is considered satisfactory.
Reducing Debt: 882's debt to equity ratio has reduced from 22.6% to 12.9% over the past 5 years.
Debt Coverage: 882's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: 882 earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Inventory Level: 882 has a high level of physical assets or inventory.
Debt Coverage by Assets: 882's debt is covered by short term assets (assets are 4.8x debt).
Next Steps
Dividend
What is Tianjin Development Holdings's current dividend yield, its reliability and sustainability?
3.69%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: 882's dividend (3.69%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.26%).
High Dividend: 882's dividend (3.69%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.26%).
Stability and Growth of Payments
Stable Dividend: 882's dividend payments have been volatile in the past 10 years.
Growing Dividend: 882's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (20.8%), 882's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
What is the CEO of Tianjin Development Holdings's salary, the management and board of directors tenure and is there insider trading?
0.3yrs
Average management tenure
CEO
Yanhua Chen (44yo)
0.3yrs
Tenure
Mr. Chen Yanhua has been General Manager and Executive Director of Tianjin Development Holdings Limited since August 29, 2019. He is a senior engineer, graduated from Beijing Institute of Technology with a ...
Management Age and Tenure
0.3yrs
Average Tenure
46.5yo
Average Age
Experienced Management: 882's management team is not considered experienced ( 0.3 years average tenure), which suggests a new team.
Board Age and Tenure
4.9yrs
Average Tenure
54.5yo
Average Age
Experienced Board: 882's board of directors are considered experienced (4.9 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Company |
| Shares | 446,000 |
| Max Price | HK$2.95 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Simon Tuen (56yo)
Deputy GM & CFO
- Tenure: 0yrs
- Compensation: HK$4.32m
Ching Chong (46yo)
Financial Controller
- Tenure: 0yrs
Zhiyong Wang (47yo)
Chairman
- Tenure: 0.3yrs
Bonnia Yee (41yo)
Company Secretary
- Tenure: 2.3yrs
Yanhua Chen (44yo)
GM & Executive Director
- Tenure: 0.3yrs
Xiaoguang Li (46yo)
Deputy GM & Executive Director
- Tenure: 0.3yrs
Qifei Zhuang (47yo)
Deputy GM & Executive Director
- Tenure: 0.3yrs
Xiaofei Cui (47yo)
Deputy GM & Executive Director
- Tenure: 0.3yrs
Board Members
Edward Cheung (69yo)
Non-Executive Director
- Tenure: 22.1yrs
- Compensation: HK$378.00k
Hon Kwan Cheng (91yo)
Independent Non-Executive Director
- Tenure: 18.5yrs
- Compensation: HK$442.00k
Alexander Mak (69yo)
Independent Non-Executive Director
- Tenure: 10.2yrs
- Compensation: HK$442.00k
Estella Ng (62yo)
Independent Non-Executive Director
- Tenure: 9.4yrs
- Compensation: HK$442.00k
Eliza Chan (63yo)
Non-Executive Director
- Tenure: 10.2yrs
- Compensation: HK$378.00k
Zhiyong Wang (47yo)
Chairman
- Tenure: 0.3yrs
Yanhua Chen (44yo)
GM & Executive Director
- Tenure: 0.3yrs
Xiaoguang Li (46yo)
Deputy GM & Executive Director
- Tenure: 0.3yrs
Qifei Zhuang (47yo)
Deputy GM & Executive Director
- Tenure: 0.3yrs
Xiaofei Cui (47yo)
Deputy GM & Executive Director
- Tenure: 0.3yrs
Company Information
Tianjin Development Holdings Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Tianjin Development Holdings Limited
- Ticker: 882
- Exchange: SEHK
- Founded:
- Industry: Multi-Utilities
- Sector: Utilities
- Market Cap: HK$2.339b
- Shares outstanding: 1.07b
- Website: https://www.tianjindev.com
Number of Employees
Location
- Tianjin Development Holdings Limited
- China Merchants Tower
- 36th Floor, Suites 7-13
- Central
- Hong Kong
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| TJN | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Dec 1997 |
| 882 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Ordinary Shares | HK | HKD | Dec 1997 |
Biography
Tianjin Development Holdings Limited, through its subsidiaries, supplies electricity, water, heat, and thermal power to industrial, commercial, and residential customers in the Tianjin Economic and Technol ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/10 12:34 |
| End of Day Share Price | 2019/12/10 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.