OTCPK:TMPP.F

Stock Analysis Report

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Executive Summary

Times China Holdings Limited, an investment holding company, operates as a property developer in the People’s Republic of China.


Snowflake Analysis

Good value with reasonable growth potential and pays a dividend.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

TMPP.F

6.2%

US Real Estate

2.8%

US Market


1 Year Return

-6.3%

TMPP.F

-18.6%

US Real Estate

9.3%

US Market

Return vs Industry: TMPP.F exceeded the US Real Estate industry which returned -18.6% over the past year.

Return vs Market: TMPP.F underperformed the US Market which returned 9.3% over the past year.


Shareholder returns

TMPP.FIndustryMarket
7 Day0%6.2%2.8%
30 Day-9.6%7.9%8.9%
90 Day-23.1%-28.5%-0.5%
1 Year-6.3%-6.3%-18.0%-18.6%11.8%9.3%
3 Yearn/a-21.0%-22.8%31.4%22.7%
5 Yearn/a-26.3%-28.5%58.7%40.9%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Times China Holdings undervalued compared to its fair value and its price relative to the market?

1.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TMPP.F ($1.5) is trading below our estimate of fair value ($1.52)

Significantly Below Fair Value: TMPP.F is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TMPP.F is good value based on its PE Ratio (4.3x) compared to the Real Estate industry average (14.8x).

PE vs Market: TMPP.F is good value based on its PE Ratio (4.3x) compared to the US market (15.7x).


Price to Earnings Growth Ratio

PEG Ratio: TMPP.F is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: TMPP.F is overvalued based on its PB Ratio (1.2x) compared to the US Real Estate industry average (1.1x).


Next Steps

Future Growth

How is Times China Holdings forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

17.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TMPP.F's forecast earnings growth (17.7% per year) is above the savings rate (2.2%).

Earnings vs Market: TMPP.F's earnings (17.7% per year) are forecast to grow slower than the US market (22% per year).

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

Revenue vs Market: TMPP.F's revenue (20.1% per year) is forecast to grow faster than the US market (8.8% per year).

High Growth Revenue: TMPP.F's revenue (20.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TMPP.F's Return on Equity is forecast to be high in 3 years time (26.4%)


Next Steps

Past Performance

How has Times China Holdings performed over the past 5 years?

32.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TMPP.F has high quality earnings.

Growing Profit Margin: TMPP.F's current net profit margins (12.3%) are lower than last year (12.8%).


Past Earnings Growth Analysis

Earnings Trend: TMPP.F's earnings have grown significantly by 32.4% per year over the past 5 years.

Accelerating Growth: TMPP.F's earnings growth over the past year (18.5%) is below its 5-year average (32.4% per year).

Earnings vs Industry: TMPP.F earnings growth over the past year (18.5%) exceeded the Real Estate industry -6.4%.


Return on Equity

High ROE: TMPP.F's Return on Equity (15.6%) is considered low.


Next Steps

Financial Health

How is Times China Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: TMPP.F's short term assets (CN¥141.3B) exceed its short term liabilities (CN¥88.0B).

Long Term Liabilities: TMPP.F's short term assets (CN¥141.3B) exceed its long term liabilities (CN¥37.4B).


Debt to Equity History and Analysis

Debt Level: TMPP.F's debt to equity ratio (149.2%) is considered high.

Reducing Debt: TMPP.F's debt to equity ratio has reduced from 194.2% to 149.2% over the past 5 years.

Debt Coverage: TMPP.F's debt is not well covered by operating cash flow (1.5%).

Interest Coverage: TMPP.F's interest payments on its debt are well covered by EBIT (19.8x coverage).


Balance Sheet


Next Steps

Dividend

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

7.27%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TMPP.F's dividend (7.27%) is higher than the bottom 25% of dividend payers in the US market (1.69%).

High Dividend: TMPP.F's dividend (7.27%) is in the top 25% of dividend payers in the US market (4.55%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, TMPP.F has been paying a dividend for less than 10 years.

Growing Dividend: TMPP.F's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (30.9%), TMPP.F's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TMPP.F's dividends in 3 years are forecast to be well covered by earnings (29.2% payout ratio).


Next Steps

Management

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

9.5yrs

Average management tenure


CEO

Chiu Hung Shum (49yo)

12.58yrs

Tenure

CN¥15,994,000

Compensation

Mr. Chiu Hung Shum has been the Chairman and Chief Executive Officer of Times China Holdings Ltd.(Formerly known as Times Property Holdings Limited) since November 2007. Mr. Shum started his business caree ...


CEO Compensation Analysis

Compensation vs Market: Chiu Hung's total compensation ($USD2.24M) is below average for companies of similar size in the US market ($USD5.87M).

Compensation vs Earnings: Chiu Hung's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Chiu Hung Shum
Chairman & CEO12.58yrsCN¥15.99m61.54% CN¥1.9b
Jianhui Guan
Executive Director12.42yrsCN¥10.42m2.39% CN¥75.3m
Xihong Bai
Executive Director12.42yrsCN¥15.16m2.32% CN¥73.3m
Qiang Li
Executive Director12.42yrsCN¥10.95m0.15% CN¥4.7m
Siu Hung Shum
Executive Director6.58yrsCN¥4.77m0.068% CN¥2.1m
Jimin Niu
Executive Director6.58yrsCN¥8.25mno data
Wing Nin Wong
Chief Financial Officer0.92yrno datano data
Wing Sze Yu
Company Secretary1yrno datano data

9.5yrs

Average Tenure

45yo

Average Age

Experienced Management: TMPP.F's management team is seasoned and experienced (9.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Chiu Hung Shum
Chairman & CEO12.58yrsCN¥15.99m61.54% CN¥1.9b
Jianhui Guan
Executive Director12.42yrsCN¥10.42m2.39% CN¥75.3m
Xihong Bai
Executive Director12.42yrsCN¥15.16m2.32% CN¥73.3m
Qiang Li
Executive Director12.42yrsCN¥10.95m0.15% CN¥4.7m
Siu Hung Shum
Executive Director6.58yrsCN¥4.77m0.068% CN¥2.1m
Jimin Niu
Executive Director6.58yrsCN¥8.25mno data
Wai Man Wong
Independent Non-Executive Director6.58yrsCN¥311.00kno data
Qingjun Jin
Independent Non-Executive Director4.67yrsCN¥311.00kno data
Hui Sun
Independent Non-Executive Director6.58yrsCN¥311.00kno data

6.6yrs

Average Tenure

51yo

Average Age

Experienced Board: TMPP.F's board of directors are considered experienced (6.6 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Times China Holdings Limited
  • Ticker: TMPP.F
  • Exchange: OTCPK
  • Founded: 1999
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: HK$24.467b
  • Listing Market Cap: HK$3.156b
  • Shares outstanding: 1.94b
  • Website: https://www.timesgroup.cn

Number of Employees


Location

  • Times China Holdings Limited
  • Times Property Center
  • 36-38/Floors
  • Guangzhou
  • Guangdong Province
  • 510030
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1233SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDDec 2013
TMPP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2013
1233SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDDec 2013
1233SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDDec 2013

Biography

Times China Holdings Limited, an investment holding company, operates as a property developer in the People’s Republic of China. The company operates through Property Development, Urban Redevelopment Business, Property Leasing, and Property Management segments. The Property Development segment develops and sells residential and commercial properties; and provides construction services. The Urban Redevelopment Business segment is involved in the sale of land held for development and other related activities. The Property Leasing segment engages in the development, leasing, and sub-leasing of commercial properties owned by the company or independent third parties. The Property Management segment provides property management services. The company also provides money lending and consulting management services. The company was formerly known as Times Property (Holdings) Co., Limited and changed its name to Times China Holdings Limited in February 2018. Times China Holdings Limited was founded in 1999 and is headquartered in Guangzhou, the People’s Republic of China. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/02 05:13
End of Day Share Price2020/05/22 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.