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Chinese Estates Holdings

OTCPK:CEST.Y
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CEST.Y
OTCPK
HK$14B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Chinese Estates Group (the "Group") is one of the leading property developers in Hong Kong. The last earnings update was 36 days ago. More info.


Add to Portfolio Compare Print
  • Chinese Estates Holdings is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
CEST.Y Share Price and Events
7 Day Returns
0%
OTCPK:CEST.Y
-0.8%
US Real Estate
0.2%
US Market
1 Year Returns
-
OTCPK:CEST.Y
-16.5%
US Real Estate
2.9%
US Market
CEST.Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chinese Estates Holdings (CEST.Y) 0% -13.1% - - - -63.4%
US Real Estate -0.8% -6.9% -9.9% -16.5% 14.5% 1%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • No trading data on CEST.Y.
  • No trading data on CEST.Y.
Price Volatility
CEST.Y
Industry
5yr Volatility vs Market

Value

 Is Chinese Estates 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 Chinese Estates 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 Chinese Estates Holdings.

OTCPK:CEST.Y 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 13.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 OTCPK:CEST.Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.108 (1 + (1- 25%) (99.4%))
1.626
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.63
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.626 * 6.65%)
13.54%

Discounted Cash Flow Calculation for OTCPK:CEST.Y using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Chinese Estates 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.

OTCPK:CEST.Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 13.54%)
2019 2,009.17 Est @ -36.51% 1,769.57
2020 1,512.13 Est @ -24.74% 1,172.99
2021 1,262.65 Est @ -16.5% 862.66
2022 1,127.17 Est @ -10.73% 678.27
2023 1,051.75 Est @ -6.69% 557.41
2024 1,011.09 Est @ -3.87% 471.96
2025 992.02 Est @ -1.89% 407.84
2026 987.04 Est @ -0.5% 357.40
2027 991.66 Est @ 0.47% 316.25
2028 1,003.03 Est @ 1.15% 281.73
Present value of next 10 years cash flows HK$6,876.09
OTCPK:CEST.Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$1,003.03 × (1 + 2.73%) ÷ (13.54% – 2.73%)
HK$9,532.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$9,532.33 ÷ (1 + 13.54%)10
HK$2,677.47
OTCPK:CEST.Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$6,876.09 + HK$2,677.47
HK$9,553.55
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$9,553.55 / 1,907.62
HK$5.01
OTCPK:CEST.Y Discount to Share Price
Calculation Result
Value per share (USD) From above. $13.12
Current discount Discount to share price of $19.00
= -1 x ($19.00 - $13.12) / $13.12
-44.8%

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

  • The current share price of Chinese Estates 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 Chinese Estates Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chinese Estates Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:CEST.Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.53
SEHK:127 Share Price ** SEHK (2019-05-16) in HKD HK$7.25
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 15.11x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

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

** Primary Listing of Chinese Estates Holdings.

OTCPK:CEST.Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:127 Share Price ÷ EPS (both in HKD)

= 7.25 ÷ 0.53

13.62x

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

  • Chinese Estates Holdings is good value based on earnings compared to the US Real Estate industry average.
  • Chinese Estates Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Chinese Estates Holdings's expected growth come at a high price?
Raw Data
OTCPK:CEST.Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.45x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*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 Chinese Estates Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Chinese Estates Holdings's assets?
Raw Data
OTCPK:CEST.Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$17.86
SEHK:127 Share Price * SEHK (2019-05-16) in HKD HK$7.25
United States of America Real Estate Industry PB Ratio Median Figure of 51 Publicly-Listed Real Estate Companies 1.51x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
OTCPK:CEST.Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:127 Share Price ÷ Book Value per Share (both in HKD)

= 7.25 ÷ 17.86

0.41x

* Primary Listing of Chinese Estates Holdings.

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

  • Chinese Estates Holdings is good value based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Chinese Estates 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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Chinese Estates Holdings has a total score of 3/6, 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.

Future Performance

 How is Chinese Estates 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 Chinese Estates 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
4.3%
Expected Real Estate industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chinese Estates Holdings expected to grow at an attractive rate?
  • Unable to compare Chinese Estates Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Chinese Estates Holdings's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Chinese Estates Holdings's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:CEST.Y Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 4.3%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
OTCPK:CEST.Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:CEST.Y Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
OTCPK:CEST.Y Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 941 3,167 1,015
2018-09-30 1,256 2,857 899
2018-06-30 1,570 2,546 783
2018-03-31 1,595 4,007 2,246
2017-12-31 1,619 5,468 3,709
2017-09-30 2,079 3,541 4,850
2017-06-30 2,539 1,614 5,992
2017-03-31 3,220 702 6,176
2016-12-31 3,901 -210 6,360
2016-09-30 3,265 -1,905 8,567
2016-06-30 2,630 -3,600 10,774
2016-03-31 2,149 -4,214 9,250

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Chinese Estates Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if Chinese Estates 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
OTCPK:CEST.Y Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Chinese Estates Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CEST.Y Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
OTCPK:CEST.Y Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.53
2018-09-30 0.47
2018-06-30 0.41
2018-03-31 1.18
2017-12-31 1.94
2017-09-30 2.54
2017-06-30 3.14
2017-03-31 3.24
2016-12-31 3.33
2016-09-30 4.49
2016-06-30 5.65
2016-03-31 4.85

*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 Chinese Estates Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Chinese Estates Holdings is trading at Chinese Estates Holdings'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Chinese Estates 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 Real Estate companies here
  3. While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Chinese Estates Holdings's filings and announcements 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 Chinese Estates 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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Chinese Estates 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.

Past Performance

  How has Chinese Estates 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 Chinese Estates Holdings's growth in the last year to its industry (Real Estate).
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.
  • Chinese Estates Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Chinese Estates Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Chinese Estates Holdings's 1-year earnings growth is negative, it can't be compared to the US Real Estate industry average.
Earnings and Revenue History
Chinese Estates 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 Chinese Estates Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CEST.Y Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 941.23 1,015.29 255.51
2018-09-30 1,255.84 898.97 254.55
2018-06-30 1,570.45 782.65 253.59
2018-03-31 1,594.64 2,245.77 266.42
2017-12-31 1,618.84 3,708.89 279.25
2017-09-30 2,079.09 4,850.44 287.84
2017-06-30 2,539.33 5,992.00 296.43
2017-03-31 3,220.27 6,176.16 313.96
2016-12-31 3,901.21 6,360.31 331.48
2016-09-30 3,265.41 8,566.96 326.89
2016-06-30 2,629.62 10,773.61 322.30
2016-03-31 2,149.21 9,250.41 333.55
2015-12-31 1,668.80 7,727.21 344.79
2015-09-30 2,108.69 6,955.12 351.99
2015-06-30 2,548.57 6,183.03 359.19
2015-03-31 2,673.77 7,463.98 327.74
2014-12-31 2,798.97 8,744.93 296.30
2014-09-30 3,141.17 6,520.55 289.10
2014-06-30 3,596.67 4,296.18 281.90
2014-03-31 5,143.48 5,306.80 294.86
2013-12-31 6,690.28 6,317.43 307.82
2013-06-30 6,441.98 10,103.15 290.41
2013-03-31 4,727.46 9,947.40 286.09
2012-12-31 3,012.95 9,791.65 281.77
2012-06-30 1,581.97 3,095.17 283.06

*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.
  • Chinese Estates Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chinese Estates Holdings used its assets less efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Chinese Estates Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Chinese Estates 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 Real Estate 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.
Chinese Estates 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.

Health

 How is Chinese Estates 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 Chinese Estates Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chinese Estates Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Chinese Estates Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Chinese Estates 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 0.5x 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 Chinese Estates Holdings Company Filings, last reported 4 months ago.

OTCPK:CEST.Y Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 34,143.57 13,747.68 6,019.78
2018-09-30 34,143.57 13,747.68 6,019.78
2018-06-30 30,063.50 15,821.88 6,646.51
2018-03-31 30,063.50 15,821.88 6,646.51
2017-12-31 36,493.00 18,308.51 9,329.93
2017-09-30 36,493.00 18,308.51 9,329.93
2017-06-30 26,754.31 13,434.47 12,199.61
2017-03-31 26,754.31 13,434.47 12,199.61
2016-12-31 29,899.86 14,591.39 15,713.09
2016-09-30 29,899.86 14,591.39 15,713.09
2016-06-30 37,158.23 10,025.81 11,221.59
2016-03-31 37,158.23 10,025.81 11,221.59
2015-12-31 40,325.36 14,531.77 13,342.10
2015-09-30 40,325.36 14,531.77 13,342.10
2015-06-30 36,570.13 11,643.95 7,393.93
2015-03-31 36,570.13 11,643.95 7,393.93
2014-12-31 41,652.59 16,712.63 9,469.00
2014-09-30 41,652.59 16,712.63 9,469.00
2014-06-30 48,521.08 20,183.04 11,184.86
2014-03-31 48,521.08 20,183.04 11,184.86
2013-12-31 47,189.77 24,058.17 15,814.12
2013-06-30 48,047.59 20,992.66 13,605.22
2013-03-31 48,047.59 20,992.66 13,605.22
2012-12-31 45,978.33 23,507.58 14,518.44
2012-06-30 40,532.16 24,604.16 9,116.17
  • Chinese Estates Holdings's level of debt (40.3%) 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 (50.9% vs 40.3% today).
  • Debt is well covered by operating cash flow (23%, greater than 20% of total debt).
  • Chinese Estates Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Chinese Estates 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. Chinese Estates Holdings has a total score of 4/6, 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.

Dividends

 What is Chinese Estates 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
1.52%
Current annual income from Chinese Estates Holdings dividends.
If you bought $2,000 of Chinese Estates Holdings shares you are expected to receive $30 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?
  • Chinese Estates Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Chinese Estates Holdings's dividend is below the markets top 25% of dividend payers in United States of America (3.7%).
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
OTCPK:CEST.Y 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
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:CEST.Y Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
OTCPK:CEST.Y Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-18 0.110 1.405
2019-03-05 0.110 1.236
2018-04-17 3.210 34.298
2018-02-22 3.210 26.636
2017-09-26 7.710 58.537
2017-08-21 7.710 58.572
2017-04-20 6.710 55.141
2017-03-09 6.710 56.335
2016-03-18 4.110 26.238
2015-04-16 6.860 34.254
2015-03-19 6.860 28.817
2014-04-14 2.000 8.967
2014-03-06 2.000 10.586
2013-09-04 1.700 8.706
2013-07-24 1.700 10.229
2013-04-19 0.210 1.542
2013-03-05 0.210 1.675
2013-01-25 0.020 0.165
2012-03-16 0.020 0.191
2011-08-17 0.020 0.158
2011-03-23 0.410 3.010
2010-08-30 0.000 0.000
2010-03-30 0.660 4.901
2009-12-31 0.660 5.112
2009-09-07 0.040 0.301

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Chinese Estates Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.8x 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 Chinese Estates Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Chinese Estates Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chinese Estates Holdings 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.

Management

 What is the CEO of Chinese Estates 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
Sue Chan
COMPENSATION HK$1,620,000
AGE 40
TENURE AS CEO 3.5 years
CEO Bio

Ms. Chan Sze-wan, also known as Sue, has been Chief Executive Officer of Chinese Estates Holdings Limited since November 1, 2015. Ms. Chan served as the Manager of Sales & Leasing Department at Chinese Estates Holdings Ltd. Ms. Chan served as an Assistant Sales & Marketing Manager of Cosmetics Department at Chinese Estates Holdings Ltd. She has been Executive Director of Chinese Estates Holdings Limited since June 12, 2012. Ms. Chan has a Bachelor degree of Business Administration from University of Managemnet and Technology

CEO Compensation
  • Sue's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Sue's remuneration is lower than average for companies of similar size in United States of America.
Management Team

Sue Chan

TITLE
CEO & Executive Director
COMPENSATION
HK$2M
AGE
40
TENURE
3.5 yrs

Kwong-wai Lam

TITLE
Group Financial Controller
COMPENSATION
HK$3M
AGE
62

Lok-wan Chan

TITLE
Manager of Sales & Leasing and Executive Director
COMPENSATION
HK$717K
AGE
33

Hoi-wan Chan

TITLE
Executive Director
COMPENSATION
HK$105K
AGE
38

Alec Kong

TITLE
Head of Operations
AGE
54

Connie Cheung

TITLE
Head of Legal Department
AGE
50
Board of Directors Tenure

Average tenure and age of the Chinese Estates Holdings board of directors in years:

7.3
Average Tenure
52
Average Age
  • The tenure for the Chinese Estates Holdings board of directors is about average.
Board of Directors

Ming-wai Lau

TITLE
Chairman of the Board
COMPENSATION
HK$300K
AGE
38
TENURE
5.2 yrs

Sue Chan

TITLE
CEO & Executive Director
COMPENSATION
HK$2M
AGE
40
TENURE
7.3 yrs

Kwong-wai Lam

TITLE
Group Financial Controller
COMPENSATION
HK$3M
AGE
62
TENURE
7.3 yrs

Lok-wan Chan

TITLE
Manager of Sales & Leasing and Executive Director
COMPENSATION
HK$717K
AGE
33
TENURE
3.8 yrs

Hoi-wan Chan

TITLE
Executive Director
COMPENSATION
HK$105K
AGE
38
TENURE
2.3 yrs

Kwok-Wai Chan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
59
TENURE
14.7 yrs

Phillis Loh

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
53
TENURE
13.3 yrs

Amy Lau

TITLE
Non-Executive Director
COMPENSATION
HK$240K
AGE
65
TENURE
14.7 yrs

Tsz-chun Ma

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
52
TENURE
10.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Chinese Estates 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. Chinese Estates 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.

News

Simply Wall St News

Company Info

Description

Chinese Estates Group (the "Group") is one of the leading property developers in Hong Kong. Chinese Estates Holdings Limited is the holding company of the Group and it is publicly listed on The Stock Exchange of Hong Kong Limited with stock code: 127. Chinese Estates' core businesses comprise of property investment for rental and property development for sale. The Group focuses primarily in Hong Kong, and diversifies its property interests to mainland China and the United Kingdom. The Group's investment properties include retail and office assets. Most of the investment properties of Chinese Estates are highly accessible and strategically located in prime commercial areas in Hong Kong such as Causeway Bay and Wanchai. In mainland China, Chinese Estates owns a five-star international hotel in Beijing. In the United Kingdom, Chinese Estates owns four investment properties in London. Over the past twenty years, Chinese Estates has built a reputation for conceptualising and implementing redevelopment, renovation works and repackaging programmes to enhance the value and revenue of its investment properties. Chinese Estates specializes in developing mid to high-end commercial and residential property projects. A number of quality and cosmopolitan residential properties are developed for sale.

Details
Name: Chinese Estates Holdings Limited
CEST.Y
Exchange: OTCPK
Founded: 1993
HK$1,762,004,589
1,907,619,079
Website: http://www.chineseestates.com
Address: Chinese Estates Holdings Limited
China Evergrande Centre,
26th Floor,
Wanchai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 127 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
OTCPK CEST.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB CQ3 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
SHSC 127 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 02. Jan 1992
SZSC 127 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 02. Jan 1992
OTCPK CEST.Y ADR Pink Sheets LLC US USD 06. Nov 2008
Number of employees
Current staff
Staff numbers
476
Chinese Estates Holdings employees.
Industry
Diversified Real Estate Activities
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 00:14
End of day share price update: 2019/05/16 00:00
Last estimates confirmation: 2017/04/20
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.