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Times China Holdings

OTCPK:TMPP.F
Snowflake Description

Very undervalued with high growth potential and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TMPP.F
OTCPK
HK$23B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Times China Holdings Limited, an investment holding company, engages in the property development business in the People’s Republic of China. The last earnings update was 57 days ago. More info.


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  • Times China Holdings has significant price volatility in the past 3 months.
TMPP.F Share Price and Events
7 Day Returns
-4.1%
OTCPK:TMPP.F
-2.2%
US Real Estate
-2.1%
US Market
1 Year Returns
-1.8%
OTCPK:TMPP.F
-17.2%
US Real Estate
1.3%
US Market
TMPP.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Times China Holdings (TMPP.F) -4.1% -11.4% 18.8% -1.8% - -
US Real Estate -2.2% -9.8% -12.3% -17.2% 13.7% -0.3%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • TMPP.F outperformed the Real Estate industry which returned -17.2% over the past year.
  • TMPP.F underperformed the Market in United States of America which returned 1.3% over the past year.
Price Volatility
TMPP.F
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Times China Holdings's competitors could be found in our database.

Value

 Is Times China 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 Times China 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 Times China Holdings.

OTCPK:TMPP.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.7%
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:TMPP.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.106 (1 + (1- 25%) (231.76%))
2.36
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (2 * 5.96%)
14.65%

Discounted Cash Flow Calculation for OTCPK:TMPP.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Times China 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:TMPP.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 14.65%)
2019 30,137.50 Analyst x2 26,286.52
2020 7,126.50 Analyst x2 5,421.61
2021 71,402.00 Analyst x1 47,379.25
2022 107,299.09 Est @ 50.27% 62,101.17
2023 145,938.82 Est @ 36.01% 73,671.67
2024 183,922.12 Est @ 26.03% 80,982.21
2025 218,936.86 Est @ 19.04% 84,081.50
2026 249,906.49 Est @ 14.15% 83,711.49
2027 276,698.53 Est @ 10.72% 80,842.61
2028 299,729.74 Est @ 8.32% 76,381.69
Present value of next 10 years cash flows CN¥620,859.72
OTCPK:TMPP.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥299,729.74 × (1 + 2.73%) ÷ (14.65% – 2.73%)
CN¥2,583,157.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥2,583,157.44 ÷ (1 + 14.65%)10
CN¥658,279.43
OTCPK:TMPP.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥620,859.72 + CN¥658,279.43
CN¥1,279,139.15
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥1,279,139.15 / 1,941.82
CN¥4836.06
OTCPK:TMPP.F Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1233)
1.138
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥658.73 x 1.138
HK$749.36
Non-primary Listing Adjustment Factor 1 share in OTCPK:TMPP.F represents 0.13621x of SEHK:1233
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.13621x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 749.36 x 0.13621
$102.07
Value per share (USD) From above. $102.07
Current discount Discount to share price of $1.64
= -1 x ($1.64 - $102.07) / $102.07
98.4%

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

Current Discount
Amount off the current price Times China Holdings is available for.
Intrinsic value
>50%
Share price is $1.64 vs Future cash flow value of $102.07
Current Discount Checks
For Times China Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Times China Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Times China Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Times China Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Times China Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:TMPP.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥2.40
SEHK:1233 Share Price ** SEHK (2019-05-20) in HKD HK$12.04
SEHK:1233 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥10.58
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 14.91x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

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

** Primary Listing of Times China Holdings.

OTCPK:TMPP.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1233 Share Price ÷ EPS (both in CNY)

= 10.58 ÷ 2.40

4.41x

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

  • Times China Holdings is good value based on earnings compared to the US Real Estate industry average.
  • Times China Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Times China Holdings's expected growth come at a high price?
Raw Data
OTCPK:TMPP.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.41x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
19.1%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.43x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

OTCPK:TMPP.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.41x ÷ 19.1%

0.23x

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

  • Times China Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Times China Holdings's assets?
Raw Data
OTCPK:TMPP.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥9.24
SEHK:1233 Share Price * SEHK (2019-05-20) in HKD HK$12.04
SEHK:1233 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥10.58
United States of America Real Estate Industry PB Ratio Median Figure of 51 Publicly-Listed Real Estate Companies 1.5x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
OTCPK:TMPP.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1233 Share Price ÷ Book Value per Share (both in CNY)

= 10.58 ÷ 9.24

1.14x

* Primary Listing of Times China Holdings.

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

  • Times China Holdings is good value based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Times China 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. Times China Holdings has a total score of 6/6, 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 Times China Holdings expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

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
19.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Times China Holdings expected to grow at an attractive rate?
  • Times China Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Times China Holdings's earnings growth is expected to exceed the United States of America market average.
  • Times China Holdings's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:TMPP.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:TMPP.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 19.1%
OTCPK:TMPP.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 20.2%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 4%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 4.7%
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:TMPP.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:TMPP.F Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 63,698 2,914 7,770 7
2020-12-31 53,744 7,798 6,521 8
2019-12-31 43,200 6,650 5,203 8
OTCPK:TMPP.F Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 34,375 -523 4,399
2018-09-30 29,618 -482 3,876
2018-06-30 24,861 -441 3,354
2018-03-31 23,986 -3,513 3,010
2017-12-31 23,110 -6,585 2,667
2017-09-30 21,171 -6,018 2,285
2017-06-30 19,232 -5,451 1,903
2017-03-31 17,719 -3,005 1,929
2016-12-31 16,206 -559 1,955
2016-09-30 15,752 -4,064 1,735
2016-06-30 15,298 -7,568 1,515
2016-03-31 14,468 -6,406 1,468

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Times China Holdings's earnings are expected to grow by 19.1% yearly, however this is not considered high growth (20% yearly).
  • Times China Holdings's revenue is expected to grow significantly at over 20% yearly.
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:TMPP.F 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 9 Analyst Estimates (S&P Global) See Below

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

OTCPK:TMPP.F Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 4.17 4.84 3.72 7.00
2020-12-31 3.50 3.92 3.22 8.00
2019-12-31 2.81 2.98 2.71 8.00
OTCPK:TMPP.F Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 2.40
2018-09-30 2.12
2018-06-30 1.84
2018-03-31 1.68
2017-12-31 1.51
2017-09-30 1.31
2017-06-30 1.10
2017-03-31 1.12
2016-12-31 1.13
2016-09-30 1.01
2016-06-30 0.88
2016-03-31 0.85

*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.
  • Times China Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Times China 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.
Times China Holdings has a total score of 5/6, 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 Times China 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 Times China 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.
  • Times China Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Times China Holdings's 1-year earnings growth exceeds its 5-year average (64.9% vs 28.2%)
  • Times China Holdings's earnings growth has exceeded the US Real Estate industry average in the past year (64.9% vs -15.8%).
Earnings and Revenue History
Times China 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 Times China Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:TMPP.F 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 34,375.01 4,399.19 1,947.56
2018-09-30 29,618.22 3,876.38 1,705.11
2018-06-30 24,861.43 3,353.56 1,462.66
2018-03-31 23,985.70 3,010.36 1,408.93
2017-12-31 23,109.96 2,667.15 1,355.20
2017-09-30 21,171.18 2,285.19 1,416.30
2017-06-30 19,232.39 1,903.22 1,477.40
2017-03-31 17,719.42 1,929.12 1,336.02
2016-12-31 16,206.45 1,955.02 1,194.64
2016-09-30 15,752.04 1,734.81 1,073.97
2016-06-30 15,297.64 1,514.60 953.30
2016-03-31 14,467.90 1,467.59 892.14
2015-12-31 13,638.16 1,420.59 830.98
2015-09-30 12,914.76 1,370.21 809.69
2015-06-30 12,191.37 1,319.82 788.41
2015-03-31 11,305.16 1,299.43 788.07
2014-12-31 10,418.95 1,279.03 787.74
2014-09-30 10,009.10 1,257.45 735.64
2014-06-30 9,599.26 1,235.88 683.54
2014-03-31 9,647.00 1,111.45 690.15
2013-12-31 9,694.74 987.02 696.77
2013-09-30 6,718.74 674.14 576.72
2013-06-30 3,742.75 361.26 456.68
2013-03-31 3,469.94 362.09 403.03
2012-12-31 3,197.14 362.92 349.38

*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.
  • Times China Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Times China Holdings used its assets less efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Times China Holdings has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Times China 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.
Times China Holdings has a total score of 4/6, 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 Times China 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 Times China Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Times China Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Times China Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Times China 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 covered by short term assets, assets are 2.4x 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 Times China Holdings Company Filings, last reported 4 months ago.

OTCPK:TMPP.F Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 32,296.19 47,630.95 23,374.18
2018-09-30 32,296.19 47,630.95 23,374.18
2018-06-30 29,658.05 40,578.60 17,124.38
2018-03-31 29,658.05 40,578.60 17,124.38
2017-12-31 27,945.62 33,289.09 14,262.98
2017-09-30 27,945.62 33,289.09 14,262.98
2017-06-30 23,886.23 29,584.43 10,615.95
2017-03-31 23,886.23 29,584.43 10,615.95
2016-12-31 16,190.93 20,801.10 8,922.73
2016-09-30 16,190.93 20,801.10 8,922.73
2016-06-30 11,587.21 19,025.99 6,027.37
2016-03-31 11,587.21 19,025.99 6,027.37
2015-12-31 9,258.00 15,968.11 4,841.36
2015-09-30 9,258.00 15,968.11 4,841.36
2015-06-30 7,025.68 12,946.37 4,907.95
2015-03-31 7,025.68 12,946.37 4,907.95
2014-12-31 5,717.06 11,109.49 3,786.15
2014-09-30 5,717.06 11,109.49 3,786.15
2014-06-30 4,392.20 10,169.90 2,161.78
2014-03-31 4,392.20 10,169.90 2,161.78
2013-12-31 4,008.42 7,402.55 1,976.54
2013-09-30 4,008.42 7,402.55 1,976.54
2013-06-30 2,456.24 5,723.06 728.08
2013-03-31 2,456.24 5,723.06 728.08
2012-12-31 3,206.11 5,676.80 2,150.00
  • Times China Holdings's level of debt (147.5%) 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 (185.2% vs 147.5% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 18.8x coverage).
X
Financial health checks
We assess Times China 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. Times China 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 Times China 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
6.5%
Current annual income from Times China Holdings dividends. Estimated to be 9.99% next year.
If you bought $2,000 of Times China Holdings shares you are expected to receive $130 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?
  • Times China Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Times China Holdings's dividend is above the markets top 25% of dividend payers in United States of America (3.76%).
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:TMPP.F 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 9 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 2008 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 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

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

OTCPK:TMPP.F Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.29 7.00
2020-12-31 1.06 8.00
2019-12-31 0.85 8.00
OTCPK:TMPP.F Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-12 0.688 5.517
2018-04-16 0.414 5.236
2018-02-28 0.414 4.571
2017-05-26 0.315 5.392
2016-05-27 0.156 4.665
2015-05-29 0.143 5.688
2014-04-30 0.109 4.307

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

  • Whilst dividend payments have been stable, Times China Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Times China Holdings only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Times China Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess Times China 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 Times China Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Times China Holdings has a total score of 4/6, 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 Times China 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
Chiu Shum
COMPENSATION CN¥10,277,000
AGE 48
TENURE AS CEO 11.5 years
CEO Bio

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 career in real estate development in 1999 and has experience in trade, finance and real estate development. In 1999, he co-founded Sweetland Real Estate. In 2001, he founded Times Group and served as the president, primarily responsible for the strategic development and overall operations of Times Group’s business. Mr. Shum has led Group to become one of the leading property developers in Guangdong Province, focusing on the development of mid-market to high-end residential properties. He has over 14 years of experience in the PRC real estate industry. He has been an Executive Director of Times China Holdings Ltd since February 2008 and served as its Director from November 2007 to February 2008. He graduated from Fudan University with an Executive Master of Business Administration degree in June 2006.

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

Average tenure and age of the Times China Holdings management team in years:

7
Average Tenure
44
Average Age
  • The average tenure for the Times China Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Chiu Shum

TITLE
Chairman & CEO
COMPENSATION
CN¥10M
AGE
48
TENURE
11.5 yrs

Xihong Bai

TITLE
Executive Director
COMPENSATION
CN¥5M
AGE
50

Zhaoxiong Cen Shum

TITLE
Executive Director
COMPENSATION
CN¥4M
AGE
44
TENURE
7 yrs

Qiang Li

TITLE
Executive Director
COMPENSATION
CN¥5M
AGE
44

Jianhui Guan

TITLE
Executive Director
COMPENSATION
CN¥5M
AGE
54
TENURE
11.3 yrs

Jimin Niu

TITLE
Executive Director
COMPENSATION
CN¥4M
AGE
39
TENURE
5.5 yrs

Wai Lui

TITLE
CFO & Joint Company Secretary
AGE
44
TENURE
4.2 yrs
Board of Directors Tenure

Average tenure and age of the Times China Holdings board of directors in years:

5.5
Average Tenure
50
Average Age
  • The tenure for the Times China Holdings board of directors is about average.
Board of Directors

Chiu Shum

TITLE
Chairman & CEO
COMPENSATION
CN¥10M
AGE
48
TENURE
11.5 yrs

Xihong Bai

TITLE
Executive Director
COMPENSATION
CN¥5M
AGE
50
TENURE
11.3 yrs

Zhaoxiong Cen Shum

TITLE
Executive Director
COMPENSATION
CN¥4M
AGE
44
TENURE
5.5 yrs

Qiang Li

TITLE
Executive Director
COMPENSATION
CN¥5M
AGE
44
TENURE
11.3 yrs

Jianhui Guan

TITLE
Executive Director
COMPENSATION
CN¥5M
AGE
54
TENURE
11.3 yrs

Jimin Niu

TITLE
Executive Director
COMPENSATION
CN¥4M
AGE
39
TENURE
5.5 yrs

Hui Sun

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥291K
AGE
57
TENURE
5.5 yrs

Raymond Wong

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥291K
AGE
50
TENURE
5.5 yrs

Qingjun Jin

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥291K
AGE
61
TENURE
3.6 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 Times China 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. Times China 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

Times China Holdings Limited, an investment holding company, engages in the property development business in the People’s Republic of China. The company’s Property Development segment is involved in the development and sale of residential and commercial properties. Its Urban Redevelopment Business segment engages in sale of land held for development and other related activities. The company’s Property Leasing segment offers development, leasing, and sub-leasing of commercial properties owned by the company or independent third parties. Its Property Management segment provides property management services. Times China Holdings Limited is also involved in the garden landscape design and architecture, property decoration, and elevator installation and maintenance activities; provision of information technology and money lending services, as well as manufacturing of metals and plastics; and production and sale of fodder. 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.

Details
Name: Times China Holdings Limited
TMPP.F
Exchange: OTCPK
Founded: 1999
HK$2,978,520,337
1,941,817,142
Website: http://www.timesgroup.cn
Address: Times China Holdings Limited
Times Property Center,
36-38/Floors,
Guangzhou,
Guangdong Province, 510030,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1233 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 11. Dec 2013
OTCPK TMPP.F Ordinary Shares Pink Sheets LLC US USD 11. Dec 2013
SHSC 1233 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 11. Dec 2013
SZSC 1233 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 11. Dec 2013
Number of employees
Current staff
Staff numbers
9,502
Times China Holdings employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 00:42
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/04/30
Last earnings filing: 2019/03/29
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.