OTCPK:CJRC.F

Stock Analysis Report

China Resources Cement Holdings

Executive Summary

China Resources Cement Holdings Limited, an investment holding company, manufactures and sells cement, concrete, and related products and services in Mainland China and Hong Kong.


Snowflake Analysis

Flawless balance sheet, good value and pays a dividend.


Similar Companies

Share Price & News

How has China Resources Cement Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CJRC.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.2%

CJRC.F

-2.7%

US Basic Materials

-2.8%

US Market


1 Year Return

n/a

CJRC.F

-22.9%

US Basic Materials

-15.9%

US Market

Return vs Industry: Insufficient data to determine how CJRC.F performed against the US Basic Materials industry.

Return vs Market: Insufficient data to determine how CJRC.F performed against the US Market.


Shareholder returns

CJRC.FIndustryMarket
7 Day-4.2%-2.7%-2.8%
30 Day-14.2%-29.0%-18.8%
90 Dayn/a-37.1%-24.0%
1 Yearn/a-22.2%-22.9%-14.2%-15.9%
3 Yearn/a-28.0%-29.8%9.9%2.8%
5 Yearn/a7.6%3.5%27.2%13.3%

Price Volatility Vs. Market

How volatile is China Resources Cement Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is China Resources Cement 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: CJRC.F ($1.15) is trading below our estimate of fair value ($2.84)

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


Price To Earnings Ratio

PE vs Industry: CJRC.F is good value based on its PE Ratio (7.3x) compared to the Basic Materials industry average (14x).

PE vs Market: CJRC.F is good value based on its PE Ratio (7.3x) compared to the US market (12.9x).


Price to Earnings Growth Ratio

PEG Ratio: CJRC.F's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CJRC.F is overvalued based on its PB Ratio (1.5x) compared to the US Basic Materials industry average (1.2x).


Next Steps

Future Growth

How is China Resources Cement Holdings forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?

-1.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CJRC.F's earnings are forecast to decline over the next 3 years (-1.3% per year).

Earnings vs Market: CJRC.F's earnings are forecast to decline over the next 3 years (-1.3% per year).

High Growth Earnings: CJRC.F's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CJRC.F's revenue (0.06% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: CJRC.F's revenue (0.06% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CJRC.F's Return on Equity is forecast to be low in 3 years time (15.5%).


Next Steps

Past Performance

How has China Resources Cement Holdings performed over the past 5 years?

33.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CJRC.F has high quality earnings.

Growing Profit Margin: CJRC.F's current net profit margins (22.1%) are higher than last year (20.6%).


Past Earnings Growth Analysis

Earnings Trend: CJRC.F's earnings have grown significantly by 33.4% per year over the past 5 years.

Accelerating Growth: CJRC.F's earnings growth over the past year (8.1%) is below its 5-year average (33.4% per year).

Earnings vs Industry: CJRC.F earnings growth over the past year (8.1%) underperformed the Basic Materials industry 32.4%.


Return on Equity

High ROE: CJRC.F's Return on Equity (20.6%) is considered high.


Next Steps

Financial Health

How is China Resources Cement Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: CJRC.F's short term assets (HK$18.7B) exceed its short term liabilities (HK$11.3B).

Long Term Liabilities: CJRC.F's short term assets (HK$18.7B) exceed its long term liabilities (HK$7.6B).


Debt to Equity History and Analysis

Debt Level: CJRC.F's debt to equity ratio (18.4%) is considered satisfactory.

Reducing Debt: CJRC.F's debt to equity ratio has reduced from 70.8% to 18.4% over the past 5 years.

Debt Coverage: CJRC.F's debt is well covered by operating cash flow (123.5%).

Interest Coverage: CJRC.F's interest payments on its debt are well covered by EBIT (37.3x coverage).


Balance Sheet

Inventory Level: CJRC.F has a high level of physical assets or inventory.

Debt Coverage by Assets: CJRC.F's debt is covered by short term assets (assets are 2.4x debt).


Next Steps

Dividend

What is China Resources Cement Holdings's current dividend yield, its reliability and sustainability?

6.54%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CJRC.F's dividend (6.61%) is higher than the bottom 25% of dividend payers in the US market (2%).

High Dividend: CJRC.F's dividend (6.61%) is in the top 25% of dividend payers in the US market (5.56%)


Stability and Growth of Payments

Stable Dividend: CJRC.F has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: CJRC.F's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (48.2%), CJRC.F's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CJRC.F's dividends in 3 years are forecast to be well covered by earnings (49.3% payout ratio).


Next Steps

Management

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

3.7yrs

Average management tenure


CEO

Youhong Ji (54yo)

3.58s

Tenure

HK$4,776,000

Compensation

Mr. Youhong Ji has been the Chief Executive Officer and Executive Director at China Resources Cement Holdings Ltd. since September 22, 2016 and served as its Regional General Manager of Guangxi since April ...


CEO Compensation Analysis

Compensation vs Market: Youhong's total compensation ($USD616.02K) is below average for companies of similar size in the US market ($USD7.59M).

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


Leadership Team

NamePositionTenureCompensationOwnership
LongShan Zhou
Executive Chairman8.5yrsHK$6.41m0.014% HK$1.2m
Youhong Ji
CEO & Executive Director3.58yrsHK$4.78m0.00086% HK$70.4k
Wanli Duan
General Manager of Finance Department0.50yrno datano data
Wei Li
Chief Marketing Officer3.67yrsno datano data
Xiaohu Wang
Chief Human Resource Officer2yrsno datano data
Junxiang Wang
Senior Vice President3.75yrsno datano data
Yingzhong Zhang
Chief Safety & Environmental Protection Officer6.25yrsno datano data
Ting Huang
Chief Procurement Officer & VP0.50yrno datano data
Liang Zhang
Senior VP and Regional GM of Guangdong & Hainan6.25yrsno datano data
Yue Wang
Assistant President6.25yrsno datano data

3.7yrs

Average Tenure

52yo

Average Age

Experienced Management: CJRC.F's management team is considered experienced (3.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
LongShan Zhou
Executive Chairman8.5yrsHK$6.41m0.014% HK$1.2m
Youhong Ji
CEO & Executive Director3.58yrsHK$4.78m0.00086% HK$70.4k
Lai Him Shek
Independent Non-Executive Director9.25yrsHK$260.00kno data
Ying Chen
Non-Executive Director7.92yrsno data0.0033% HK$269.4k
Shu Kwan Ip
Independent Non-Executive Director11.67yrsHK$260.00kno data
Yan Wang
Non-Executive Director5.67yrsno datano data
Xuemin Zeng
Independent Non-Executive Director11.67yrsHK$260.00kno data
Chi-Yuen Lam
Independent Non-Executive Director11.67yrsHK$260.00kno data
Suet Wan
Non-Executive Director1.92yrsno datano data
Shiqing Jing
Non-Executive Director1.92yrsno datano data

8.2yrs

Average Tenure

52.5yo

Average Age

Experienced Board: CJRC.F's board of directors are considered experienced (8.2 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.2%.


Top Shareholders

Company Information

China Resources Cement Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: China Resources Cement Holdings Limited
  • Ticker: CJRC.F
  • Exchange: OTCPK
  • Founded: 2003
  • Industry: Construction Materials
  • Sector: Materials
  • Market Cap: HK$63.475b
  • Listing Market Cap: HK$8.187b
  • Shares outstanding: 6.98b
  • Website: https://www.crcement.com

Number of Employees


Location

  • China Resources Cement Holdings Limited
  • China Resources Building
  • Room 4606-08
  • Wanchai
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1313SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDOct 2009
CJRC.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 2009
C44DB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 2009
1313SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDOct 2009
1313SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDOct 2009
CARC.YOTCPK (Pink Sheets LLC)ADRUSUSDApr 2010

Biography

China Resources Cement Holdings Limited, an investment holding company, manufactures and sells cement, concrete, and related products and services in Mainland China and Hong Kong. The company engages in the excavation of limestone; and production, sale, and distribution of cement, clinker, and concrete. It offers Portland, ordinary Portland, composite Portland, and slag Portland cement under the Runfeng name. The company’s products are primarily used in the construction of infrastructure projects, such as railways, highways, subways, bridges, airports, ports, dams, and hydroelectric and nuclear power stations, as well as high-rise buildings, and suburban and rural area development. It also trades in cement products and construction materials; provides environmental protection engineering, and building materials testing and consultancy services; and holds properties. The company was incorporated in 2003 and is headquartered in Wanchai, Hong Kong. China Resources Cement Holdings Limited is a subsidiary of CRH (Cement) Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 00:13
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
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.