Post on 28-Apr-2015
description
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Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD)
Minority
Interest
(USD)
Cash and
Equivalents
(USD)
Enterprise
Value
(USD)
Tot. Rev. -
LFY
Est. Tot.
Rev. - Tr.
12M
Est. Tot.
Rev. - 2013
Est. Tot.
Rev. - 2014 EBITDA - LFY
Est. EBITDA -
Tr. 12M
Est. EBITDA -
2013
Est. EBITDA -
2014 EPS - LFY
Est. EPS -
Tr. 12M
Est. EPS -
2013
Est. EPS -
2014
P/E Ratio -
LFY
Est. P/E
Ratio - Tr.
12M
Est. P/E
Ratio - 2013
Est. P/E
Ratio - 2014
Est.
Revenue
Growth - 1Y
Est.
Revenue
Growth - 5Y
Est. EBITDA
Growth - 1Y
Est. Est.
EBITDA
Growth - 5Y
Est. EBITDA
Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Rating
Moody's LT Credit
Rating Date
S&P 500 INDEX USD 13796097 1881.182 1118 1118 203 220 220 101.36 110.70 110.70 14.77 14.77 13.52 13.52 18.65
Euro Stoxx 50 Pr EUR 2485811 5508.826 4743 4743 765 807 807 178.22 316.43 316.43 24.81 16.23 13.97 13.97 20.09
NIKKEI 225 JPY 2454594 179.6827 193 193 20 20 20 5.41 5.75 5.75 0.25 0.25 0.23 0.23 0.12
FTSE 100 INDEX GBP 2640656 11486.18 9502 9502 1464 1671 1671 539.36 822.83 822.83 26.64 21.89 17.46 17.46 23.67
SWISS MARKET INDEX CHF 1010821 10856.93 4148 4148 866 849 849 386.33 561.01 561.01 22.31 18.92 15.36 15.36 22.67
S&P/TSX COMPOSITE INDEX CAD 1660391 16874.34 7864 7864 1870 2103 2103 796.18 889.64 889.64 15.12 15.12 13.53 13.53 24.69
S&P/ASX 200 INDEX AUD 1382151 6594.27 2837 2837 586 687 687 245.88 337.81 337.81 21.36 16.54 15.55 15.55 21.80
HANG SENG INDEX HKD 1695636 3343.065 1611 1611 360 406 406 251.95 265.89 265.89 1.49 1.57 1.41 1.41 3.13
MSCI EM USD 7809343 1437.116 1033 1033 195 197 197 86.01 99.96 99.96 12.12 3.47 10.43 10.43 19.76
AIA GROUP LTD HKD 51001 94654 12044 0 0 0 1 6.35 2628 2628 2780 3136 - - - - 0.02 0.03 0.03 0.03 2.17 - 2.28 2.03 5.38 - - - - - - - -
ALUMINUM CORP OF CHINA LTD-H HKD 9124 15843 13524 10 0 1 2 19.29 18758 18923 18701 19455 1172 - 209 209 0.00 -0.05 -0.05 -0.03 - - #VALUE! #VALUE! 2.61 2.18 -0.81 -2.01 - - - - -
BANK OF CHINA LTD-H HKD 131838 401756 279136 247 0 4 403 #VALUE! 66275 74536 46414 50293 - - - - 0.06 0.06 0.06 0.06 0.79 - 0.78 0.76 3.88 2.34 - - - A 29.11.2011 - -
BANK OF COMMUNICATIONS CO-H HKD 57524 29952 61886 122 0 0 152 #VALUE! 28198 32468 18913 20635 - - - - 0.11 0.12 0.11 0.10 0.69 - 0.75 0.77 4.29 3.33 - - - A- 06.12.2011 WR 02.12.1999
BANK OF EAST ASIA HKD 9058 5168 2227 7 0 1 18 #VALUE! 3721 3721 2017 2202 - - - - -0.04 0.37 0.29 0.31 1.41 - 1.83 1.70 1.94 0.85 - - - A 01.12.2011 WR 19.07.2003
BELLE INTERNATIONAL HOLDINGS HKD 15482 30663 8434 0 0 0 1 11.76 3731 4006 4298 5031 778 830 461 461 0.07 0.07 0.07 0.08 2.77 2.76 2.79 2.38 2.85 3.43 3.87 4.81 2.67 - - - -
BOC HONG KONG HOLDINGS LTD HKD 34549 19632 10573 35 0 0 54 #VALUE! 6532 6897 4605 5063 - - - - 0.23 0.24 0.25 0.26 1.76 1.91 1.69 1.60 2.34 0.51 - - - - - - -
CATHAY PACIFIC AIRWAYS HKD 7373 3595 3934 6 0 0 3 11.99 12685 12952 12645 13628 1474 1808 600 600 0.19 0.06 0.02 0.09 4.20 3.62 11.22 2.57 1.28 1.20 -3.72 0.70 1.80 - - - -
CHEUNG KONG HOLDINGS LTD HKD 35619 3463 2316 6 0 1 3 39.31 4250 2953 4097 5041 1434 1163 - - - 1.57 1.35 1.52 1.26 - 1.47 1.31 4.83 6.14 4.30 1.94 5.08 NR 28.12.2011 - -
CHINA COAL ENERGY CO-H HKD 14854 29142 13259 4 0 2 4 15.78 11314 11784 11484 12593 2401 2347 - - 0.10 0.09 0.08 0.09 1.07 1.06 1.16 1.12 3.20 3.21 3.42 3.24 2.57 - - - -
CHINA CONSTRUCTION BANK-H HKD 198659 233371 250011 156 0 1 357 #VALUE! 74190 87997 58775 63841 - - - - 0.09 0.10 0.10 0.10 0.84 - 0.83 0.80 3.60 2.10 - - - A 29.11.2011 - -
CHINA LIFE INSURANCE CO-H HKD 83521 30833 28265 6 0 0 7 #VALUE! 47741 45351 47115 52606 - - - - 0.08 0.07 0.07 0.13 4.44 4.44 4.57 2.25 -0.50 2.64 - - - AA- 16.12.2010 - -
CHINA MERCHANTS HLDGS INTL HKD 8672 2320 2474 3 0 1 1 12.09 1 K 1 K 1 K 1 K 551 564 - - 0.27 0.18 0.19 0.22 2.53 - 2.35 2.04 8.12 2.51 4.48 4.30 5.60 BBB 17.02.2005 - -
CHINA MOBILE LTD HKD 220111 13757 20072 4 0 0 43 129.98 68062 70183 72386 76937 33155 33013 8169 8169 0.83 0.81 0.80 0.80 1.39 - 1.41 1.41 1.14 1.28 0.82 1.23 6.06 AA- 16.12.2010 WR 03.11.2005
CHINA OVERSEAS LAND & INVEST HKD 24019 26170 8173 6 0 0 2 27.45 6263 6701 8562 10350 2452 2591 - - 0.24 0.26 0.24 0.29 1.45 - 1.55 1.30 1.24 5.77 2.23 5.86 4.98 BBB 25.03.2010 - -
CHINA PETROLEUM & CHEMICAL-H HKD 101834 126479 86703 31 0 5 3 121.29 317594 331841 328445 343778 22038 20229 - - 0.11 0.08 0.09 0.11 1.39 - 1.30 1.07 4.03 3.11 -0.52 1.20 0.79 A+ 16.12.2010 - -
CHINA RESOURCES ENTERPRISE HKD 7726 1998 2399 2 0 2 2 9.14 14201 15584 16633 19662 918 968 - - 0.10 0.19 0.12 0.13 2.21 3.48 3.56 3.10 3.48 2.80 1.51 1.90 0.80 - - - -
CHINA RESOURCES LAND LTD HKD 16413 6780 5826 8 0 1 2 23.16 4614 4645 5937 7483 1537 1593 - - 0.19 0.19 0.16 0.19 1.95 - 2.28 1.90 5.04 8.15 4.42 8.40 4.42 BBB 03.05.2011 Baa2 03.05.2011
CHINA RESOURCES POWER HOLDIN HKD 12812 5964 4745 11 0 2 1 24.99 7826 8072 8378 9530 1759 1922 - - 0.12 0.14 0.19 0.24 2.56 - 1.86 1.46 3.22 4.99 1.98 4.16 3.07 BBB 19.04.2011 Baa3 14.09.2010
CHINA SHENHUA ENERGY CO-H HKD 72035 24516 19890 8 0 5 8 63.05 26838 29516 30339 32988 10863 11191 - - 0.30 0.32 0.31 0.32 1.17 1.17 1.24 1.19 4.13 3.44 2.16 2.55 4.89 - - - -
CHINA UNICOM HONG KONG LTD HKD 33293 26310 23565 14 0 0 2 39.79 26963 29578 32416 37173 8249 8773 2376 2376 0.02 0.03 0.04 0.06 5.15 - 3.88 2.44 2.84 4.79 0.78 1.85 3.82 - - - -
CITIC PACIFIC LTD HKD 5212 6772 3649 13 0 2 4 16.81 12902 13415 13193 14973 1217 1094 - - - 0.31 0.19 0.17 0.60 - 0.95 1.08 5.38 3.42 5.40 0.56 1.05 BB+ 18.07.2011 Ba1 06.04.2011
CLP HOLDINGS LTD HKD 21674 5533 2526 12 0 0 2 32.02 13517 13517 13461 14301 2859 3287 2965 2965 0.50 0.44 0.56 0.59 2.49 2.35 1.97 1.87 1.86 2.54 0.65 0.92 3.13 A- 02.03.2011 - -
CNOOC LTD HKD 86212 47861 44659 5 0 0 13 61.41 31059 30247 30514 31438 15345 14694 - - 0.20 0.18 0.19 0.18 1.11 - 1.06 1.09 4.36 4.45 2.77 2.43 6.26 AA- 16.12.2010 - -
COSCO PACIFIC LTD HKD 4367 5701 2712 0 0 0 0 0.81 77 89 94 104 41 47 - - 0.02 0.02 0.02 0.02 1.66 - 1.53 1.37 4.41 2.71 5.78 0.89 6.83 - - - -
ESPRIT HOLDINGS LTD HKD 2525 17959 1402 0 0 0 0 1.88 3888 3483 3472 3661 238 115 36 36 0.09 -0.01 -0.01 0.04 - - #VALUE! 4.52 -1.38 -0.74 -2.67 -2.99 0.42 - - - -
HANG LUNG PROPERTIES LTD HKD 16965 6179 4477 4 0 1 5 16.93 950 950 1458 1647 941 941 - - 0.24 0.24 0.18 0.21 2.03 - 2.66 2.37 5.51 0.75 12.48 3.12 12.76 - - - -
HANG SENG BANK LTD HKD 30461 1419 1912 7 0 0 20 #VALUE! 5079 5345 3154 3478 - - - - - 1.21 1.19 1.36 1.70 - 1.73 1.51 0.61 -0.30 - - - AA- 29.11.2011 - -
HENDERSON LAND DEVELOPMENT HKD 16638 3006 2369 7 0 1 2 21.92 1958 1513 1959 2645 558 419 - - - 0.88 0.40 0.42 1.01 - 2.25 2.12 14.72 8.86 34.01 1.47 3.57 NR 06.07.2005 - -
HENGAN INTL GROUP CO LTD HKD 12405 2094 1229 1 0 0 1 12.68 2198 2308 2517 3059 459 573 - - 0.28 0.32 0.37 0.44 4.01 - 3.55 2.97 3.47 3.52 1.43 3.54 3.20 - - - -
HONG KONG & CHINA GAS HKD 24086 5802 8691 4 0 1 2 27.22 2891 3157 3358 3789 914 963 521 521 0.09 0.10 0.11 0.11 3.42 3.45 3.39 3.17 2.03 2.47 2.72 0.74 3.93 A+ 23.07.2008 A1 23.07.2008
HONG KONG EXCHANGES & CLEAR HKD 20424 6483 1078 0 0 0 6 14.48 771 771 1142 1266 736 663 - - 0.58 0.48 0.61 0.66 4.72 4.29 3.78 3.46 -1.66 -0.69 - 2.40 10.18 - - - -
HSBC HOLDINGS PLC HKD 200110 14041 17868 35 0 1 35 #VALUE! 12220 10740 8786 9005 - - - - 0.10 0.09 0.11 0.13 1.90 - 1.58 1.40 0.51 - - - - A+ 29.11.2011 Aa3 21.06.2012
HUTCHISON WHAMPOA LTD HKD 44845 9348 4263 29 0 5 9 70.57 30125 30563 30788 33174 4460 4662 - - 0.61 0.60 0.69 0.81 2.25 1.91 1.96 1.68 1.51 0.53 -0.37 0.00 1.97 A- 09.11.2010 A3 29.10.2010
IND & COMM BK OF CHINA-H HKD 236846 226481 349084 248 0 0 463 #VALUE! 90799 101755 68637 75077 - - - - 0.08 0.08 0.09 0.09 0.89 - 0.85 0.81 3.80 2.45 - - - A 28.08.2012 - -
LI & FUNG LTD HKD 11315 12909 8104 0 0 0 0 1.69 2582 2624 2692 2942 136 136 62 62 0.01 0.01 0.01 0.01 1.87 - 2.81 2.13 3.27 1.82 2.73 3.53 0.67 A- *- 15.01.2013 A3 10.05.2007
MTR CORP HKD 23565 2300 5785 4 0 0 2 25.34 4308 4435 4581 4817 2533 2481 - - 0.33 0.28 0.20 0.21 1.88 - 2.58 2.55 1.71 4.15 4.04 1.60 7.21 AAA 16.12.2010 Aa1 11.11.2010
NEW WORLD DEVELOPMENT HKD 11108 24260 6151 11 0 4 4 22.97 4592 5282 5795 6163 1394 1394 - - 0.26 0.31 0.14 0.16 0.73 - 1.62 1.45 1.07 1.86 5.57 5.46 3.91 - - - -
PETROCHINA CO LTD-H HKD 261712 62814 183021 41 0 10 8 263.92 258307 270478 266899 284987 41684 41812 11006 11006 0.10 0.09 0.08 0.10 1.54 1.51 1.66 1.43 4.74 3.34 0.84 0.57 1.99 - - - -
PING AN INSURANCE GROUP CO-H HKD 60503 12061 7916 42 0 5 12 82.61 35150 41184 41730 49563 - - - - 0.32 0.34 0.37 0.47 2.53 - 2.32 1.80 5.13 2.86 - - - - - - -
POWER ASSETS HOLDINGS LTD HKD 18887 5004 2134 3 0 0 1 21.29 1315 1343 1365 1395 854 860 502 502 0.55 0.56 0.58 0.61 2.02 2.01 1.97 1.88 -0.21 -0.39 -1.42 -0.82 8.25 A+ 09.11.2010 - -
SINO LAND CO HKD 10445 7879 5912 1 0 0 1 11.10 1082 1082 916 1492 520 520 - - 0.21 0.22 0.14 0.13 1.04 - 1.67 1.76 5.32 0.22 4.29 0.54 6.19 - - - -
SUN HUNG KAI PROPERTIES HKD 40757 4074 2616 9 0 1 2 48.57 8817 8817 8205 8901 3395 3395 - - 2.14 2.14 1.07 1.12 0.92 - 1.85 1.77 1.20 2.39 2.28 2.19 4.96 A+ 15.06.2012 - -
SWIRE PACIFIC LTD-A HKD 18858 1232 1505 5 0 1 1 29.50 4677 4975 5442 5761 1302 1336 - - 2.77 1.43 0.81 0.81 1.15 1.12 2.02 2.02 3.13 1.79 1.50 1.69 3.46 A- 16.08.2005 A3 19.07.2000
TENCENT HOLDINGS LTD HKD 63141 3480 1822 2 0 0 3 48.87 3673 5113 5641 7279 1722 2162 617 617 0.71 0.84 0.91 1.15 4.22 - 3.86 3.06 5.81 8.01 3.69 7.79 5.45 BBB+ 14.11.2011 Baa1 14.11.2011
TINGYI (CAYMAN ISLN) HLDG CO HKD 14745 11091 5590 0 0 0 0 2.03 1014 1160 1238 1465 116 155 - - 0.01 0.01 0.01 0.01 3.80 - 4.09 3.24 2.29 3.19 -0.92 2.58 1.72 BBB+ 05.06.2012 - -
WANT WANT CHINA HOLDINGS LTD HKD 18177 14986 13220 0 0 0 0 2.31 380 412 455 555 77 95 - - 0.00 0.00 0.01 0.01 4.84 - 4.32 3.47 4.03 3.20 2.42 3.27 2.98 - - - -
WHARF HOLDINGS LTD HKD 25811 4125 3029 10 0 1 4 33.68 3094 4191 4139 4244 1598 2018 - - 1.36 1.70 0.45 0.48 0.65 - 2.42 2.28 3.08 2.60 2.12 1.41 6.21 NR 22.06.2010 - -
Valuation Measures I/II
Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot
S&P 500 INDEX 2.08 2.08 1.90 1.71 2.08 1.34 1.34 1.28 1.22 1.34 9.54 9.54 9.28 8.52 9.54 8.55 8.55 7.89 7.38 8.55 13.52 13.52 12.13 10.97 13.52 2.30 2.30 2.46 2.66 2.30 1660.6 10.9%
Euro Stoxx 50 Pr 1.10 1.10 1.04 0.97 1.10 0.71 0.71 0.69 0.67 0.71 5.22 5.22 4.83 4.59 5.22 6.83 6.83 6.46 6.12 6.83 10.68 10.68 9.55 8.75 10.68 4.44 4.44 4.79 5.10 4.44 2885.3 11.7%
NIKKEI 225 1.36 1.36 1.28 1.20 1.36 0.64 0.64 0.60 0.59 0.64 8.49 8.49 7.37 6.87 8.49 8.91 8.91 7.82 7.34 8.91 21.36 21.36 17.18 13.31 21.36 1.83 1.83 1.83 2.13 1.83 11390.2 1.2%
FTSE 100 INDEX 1.64 1.64 1.52 1.28 1.64 1.00 1.00 0.97 0.98 1.00 7.75 7.75 7.14 5.87 7.75 6.87 6.87 6.43 6.07 6.87 11.56 11.56 10.49 9.60 11.56 3.95 3.95 4.26 4.86 3.95 6681.0 6.2%
SWISS MARKET INDEX 2.30 2.30 2.14 1.96 2.30 1.94 1.94 1.84 1.76 1.94 11.81 11.81 10.81 9.76 11.81 12.78 12.78 11.85 11.07 12.78 14.31 14.31 12.84 11.67 14.31 3.37 3.37 3.74 4.23 3.37 7909.1 5.8%
S&P/TSX COMPOSITE INDEX 1.67 1.67 1.54 1.45 1.67 1.57 1.57 1.47 1.40 1.57 8.30 8.30 7.48 7.08 8.30 8.03 8.03 7.09 6.79 8.03 13.88 13.88 12.20 11.33 13.88 3.12 3.12 3.27 3.46 3.12 14410.3 13.8%
S&P/ASX 200 INDEX 1.90 1.90 1.80 1.69 1.90 1.81 1.81 1.70 1.62 1.81 11.16 11.16 10.02 9.09 11.16 9.60 9.60 8.46 7.81 9.60 15.22 15.22 13.55 12.48 15.22 4.33 4.33 4.66 5.02 4.33 5092.5 1.1%
HANG SENG INDEX 1.35 1.35 1.24 1.18 1.35 1.81 1.81 1.67 1.51 1.81 7.24 7.24 6.69 6.27 7.24 8.23 8.23 7.48 7.01 8.23 10.95 10.95 9.95 9.17 10.95 3.50 3.50 3.82 4.66 3.50 24971.6 10.6%
MSCI EM 1.41 1.41 1.28 1.19 1.41 1.01 1.01 0.94 0.89 1.01 6.48 6.48 5.96 5.56 6.48 7.29 7.29 6.65 6.27 7.29 10.43 10.43 9.34 8.63 10.43 2.94 2.94 3.29 3.62 2.94 1192.6 14.4%
AIA GROUP LTD 2.16 1.94 1.77 1.49 2.66 2.36 2.10 19.51 17.72 15.74 13.23 1.23 1.35 1.53 1.18 35.47 8.0%
ALUMINUM CORP OF CHINA LTD-H 0.68 0.76 0.81 0.84 0.42 0.39 0.38 0.37 0.35 6.26 11.22 9.33 8.41 14.23 43.87 21.42 16.77 11.26 60.20 44.15 0.34 0.00 0.00 0.15 2.72 -17.7%
BANK OF CHINA LTD-H 1.10 0.98 0.88 0.79 2.50 2.28 2.10 1.91 1.59 4.19 4.01 3.85 3.65 6.61 6.05 5.91 5.50 4.71 5.37 5.65 5.69 6.07 7.02 4.14 16.6%
BANK OF COMMUNICATIONS CO-H 1.10 0.94 0.83 0.75 2.80 2.44 2.24 2.00 1.67 3.55 3.66 3.72 3.55 5.94 5.80 6.00 5.63 5.47 3.61 3.59 3.97 4.33 5.46 6.56 10.7%
BANK OF EAST ASIA 1.26 1.18 1.12 1.04 4.86 4.49 4.11 3.66 13.66 12.57 12.00 10.77 14.27 14.19 13.18 11.70 3.23 3.15 3.33 3.66 30.30 -4.0%
BELLE INTERNATIONAL HOLDINGS 5.04 4.26 3.66 3.14 2.69 3.27 2.89 2.47 2.16 1.77 22.54 20.56 18.23 15.72 14.65 15.18 14.40 12.26 10.62 8.63 22.77 21.61 18.44 15.79 13.45 1.57 1.46 1.70 1.92 2.19 16.79 17.9%
BOC HONG KONG HOLDINGS LTD 2.11 1.90 1.79 1.68 1.60 8.30 7.50 6.82 6.23 5.84 11.52 12.68 12.55 11.68 14.01 13.10 12.40 11.51 10.80 4.58 4.76 5.04 5.47 6.13 28.90 14.0%
CATHAY PACIFIC AIRWAYS 1.00 1.02 0.98 0.93 0.59 0.58 0.54 0.50 4.70 8.66 5.24 4.37 7.26 10.61 7.97 6.45 9.75 87.07 19.95 11.63 3.78 0.46 1.59 2.86 15.14 4.1%
CHEUNG KONG HOLDINGS LTD 0.92 0.84 0.79 0.74 7.40 8.69 7.07 6.22 19.70 16.08 13.23 17.66 21.02 17.37 16.50 12.52 11.43 10.14 9.40 2.62 2.70 2.82 2.99 139.16 16.6%
CHINA COAL ENERGY CO-H 0.96 0.88 0.82 0.76 0.74 1.08 1.04 0.95 0.85 0.73 5.07 6.15 4.97 4.49 6.66 7.08 6.50 5.78 5.78 7.74 8.98 8.67 7.95 10.82 3.52 3.06 3.18 3.47 3.83 8.93 22.0%
CHINA CONSTRUCTION BANK-H 1.53 1.32 1.15 1.02 3.09 2.71 2.50 2.24 1.94 4.82 4.35 4.07 3.94 7.37 6.46 6.19 5.73 5.39 5.00 5.32 5.50 5.89 9.27 7.35 19.0%
CHINA LIFE INSURANCE CO-H 2.60 2.40 2.13 1.90 1.47 1.44 1.42 1.27 1.16 23.96 35.46 17.47 14.83 7.97 1.33 1.10 1.83 2.10 4.22 27.20 19.6%
CHINA MERCHANTS HLDGS INTL 1.57 1.48 1.40 1.34 1.27 8.47 7.08 6.94 6.38 7.99 12.68 9.98 12.97 11.07 19.03 17.78 16.94 16.14 17.93 12.68 18.22 15.85 14.20 13.24 3.72 2.51 2.82 3.25 3.30 25.50 -5.5%
CHINA MOBILE LTD 2.12 1.90 1.73 1.59 1.44 2.61 2.44 2.30 2.16 1.98 6.00 6.05 5.96 5.64 5.21 4.00 4.00 3.93 3.78 3.64 10.96 10.96 10.95 10.69 10.67 3.93 3.95 3.97 4.18 4.70 92.45 8.8%
CHINA OVERSEAS LAND & INVEST 2.87 2.24 1.91 1.64 3.28 2.81 2.32 1.94 12.50 7.91 5.56 4.77 9.83 8.72 7.49 6.26 14.94 12.01 10.09 8.60 1.30 1.66 1.93 2.28 25.84 13.3%
CHINA PETROLEUM & CHEMICAL-H 1.29 1.16 1.07 0.98 0.90 0.27 0.25 0.24 0.23 0.19 4.23 4.16 3.80 3.58 3.08 5.38 5.64 4.90 4.55 4.11 8.08 10.05 8.31 7.71 7.62 3.18 3.41 3.88 4.14 4.42 8.84 1.3%
CHINA RESOURCES ENTERPRISE 1.86 1.56 1.49 1.41 1.38 0.55 0.46 0.39 0.34 0.27 6.99 8.27 6.45 7.17 4.47 9.20 8.06 7.36 6.25 4.99 24.32 27.60 24.01 19.68 14.22 1.84 2.07 2.07 2.53 3.35 28.15 12.8%
CHINA RESOURCES LAND LTD 2.29 1.86 1.66 1.49 3.90 2.76 2.19 1.78 16.53 9.83 8.90 16.24 13.17 11.28 9.02 20.08 17.66 14.74 11.81 1.49 1.42 1.73 2.09 23.93 9.5%
CHINA RESOURCES POWER HOLDIN 2.11 1.84 1.65 1.47 1.28 1.64 1.53 1.34 1.21 1.13 7.17 6.94 5.56 4.90 4.29 13.80 10.41 8.42 7.61 6.44 20.01 14.41 11.31 10.39 8.97 1.58 2.21 2.79 3.13 4.14 23.00 10.3%
CHINA SHENHUA ENERGY CO-H 1.97 1.77 1.57 1.41 1.33 2.20 1.91 1.75 1.64 1.36 6.78 6.74 5.97 5.62 5.82 5.74 5.42 5.12 5.38 9.91 9.61 9.26 8.73 8.89 3.67 4.03 4.14 4.39 3.95 36.85 30.0%
CHINA UNICOM HONG KONG LTD 1.00 0.98 0.94 0.90 0.85 0.98 0.82 0.72 0.65 0.56 2.89 3.25 2.44 2.23 1.95 4.72 4.19 3.60 3.19 2.79 38.93 30.13 18.92 13.29 10.60 1.13 1.48 2.21 2.98 2.61 14.35 30.9%
CITIC PACIFIC LTD 0.53 0.49 0.47 0.44 0.46 0.40 0.35 0.30 4.26 9.08 5.50 3.97 11.84 13.61 11.42 8.24 4.63 7.38 8.39 6.26 4.18 3.56 3.47 4.18 12.36 11.6%
CLP HOLDINGS LTD 1.88 1.79 1.71 1.61 1.76 1.61 1.52 1.45 1.35 8.85 8.96 8.03 7.52 12.06 10.80 10.20 9.39 8.66 16.82 15.27 14.51 14.08 11.74 3.83 3.91 4.07 4.28 65.18 -2.1%
CNOOC LTD 2.04 1.72 1.50 1.32 1.20 2.33 2.27 2.20 1.97 2.10 5.35 5.55 5.45 5.10 5.39 3.90 3.86 3.74 3.50 3.47 7.78 8.25 8.49 8.19 8.74 4.23 2.64 2.89 2.98 3.03 17.99 20.1%
COSCO PACIFIC LTD 1.19 1.11 1.06 0.99 0.91 7.35 5.96 5.43 4.98 6.77 11.28 9.11 8.47 7.76 20.12 14.47 12.97 12.16 15.83 10.59 11.87 10.59 9.50 8.71 3.96 3.38 3.76 4.21 4.47 13.04 7.2%
ESPRIT HOLDINGS LTD 0.85 0.95 0.95 0.90 0.63 0.73 0.69 0.65 0.66 13.12 67.79 21.35 8.35 8.29 33.03 12.32 5.88 21.13 35.07 15.83 12.95 4.10 1.32 2.54 4.20 4.65 8.80 -12.9%
HANG LUNG PROPERTIES LTD 1.14 1.07 1.02 0.97 16.29 11.63 10.30 10.33 24.75 18.32 15.27 13.89 21.47 15.90 14.08 13.94 26.42 20.60 18.35 17.33 2.43 2.53 2.57 2.57 32.45 10.4%
HANG SENG BANK LTD 3.09 2.71 2.41 2.28 2.11 9.43 9.66 8.76 8.06 7.80 12.70 25.67 29.93 27.38 14.90 13.43 11.69 14.10 12.56 4.20 4.23 4.27 4.35 19.28 118.33 -4.3%
HENDERSON LAND DEVELOPMENT 0.71 0.67 0.65 0.63 8.83 8.49 6.29 5.99 732.19 192.27 267.25 36.48 35.06 31.09 24.18 23.65 20.11 17.44 16.47 15.56 1.97 2.04 2.11 2.25 62.68 17.3%
HENGAN INTL GROUP CO LTD 8.26 6.96 6.20 5.50 4.77 5.60 4.93 4.06 3.41 2.93 35.57 26.97 22.08 17.83 27.25 19.55 16.38 13.85 37.14 27.54 23.04 19.46 15.55 1.69 2.23 2.66 3.15 3.67 81.53 4.1%
HONG KONG & CHINA GAS 4.46 4.11 3.81 3.58 3.13 8.50 7.17 6.36 5.69 5.11 30.37 25.60 24.02 21.72 32.06 24.75 22.54 20.76 22.09 31.95 26.32 24.57 23.12 21.14 1.53 1.80 1.93 2.10 2.74 19.56 -9.0%
HONG KONG EXCHANGES & CLEAR 10.27 9.07 8.63 21.95 17.88 16.13 30.79 24.83 21.62 21.98 17.43 15.58 35.29 29.30 26.83 2.57 3.07 3.36 131.45 -4.6%
HSBC HOLDINGS PLC 1.22 1.18 1.11 1.06 0.97 2.78 2.94 2.86 2.72 2.51 6.64 11.83 10.56 9.06 14.23 12.29 10.86 9.68 8.59 3.71 3.96 4.41 4.94 5.55 87.56 4.2%
HUTCHISON WHAMPOA LTD 0.99 0.93 0.90 0.85 1.55 1.46 1.35 1.27 8.46 9.12 8.45 7.51 13.73 12.46 11.19 9.68 18.10 15.23 13.03 11.38 2.55 2.70 2.91 3.12 95.48 17.0%
IND & COMM BK OF CHINA-H 1.58 1.36 1.19 1.03 3.14 2.77 2.53 2.29 2.04 5.04 4.52 4.17 4.05 7.33 6.57 6.27 5.78 5.70 4.96 5.12 5.40 5.79 8.77 6.55 21.3%
LI & FUNG LTD 2.59 2.34 2.20 2.05 1.96 0.56 0.54 0.50 0.45 0.33 16.31 14.40 11.28 9.88 13.19 16.24 11.28 9.59 6.77 17.58 21.83 16.51 13.54 8.73 4.73 3.03 4.51 5.39 11.94 13.7%
MTR CORP 1.45 1.35 1.30 1.25 5.63 5.14 4.89 4.58 24.46 29.35 18.05 17.69 14.73 14.64 13.91 12.98 19.20 20.04 19.81 16.93 2.15 2.47 2.52 2.62 32.74 3.8%
NEW WORLD DEVELOPMENT 0.71 0.66 0.62 0.58 2.54 1.92 1.80 1.67 59.06 9.28 7.60 7.16 18.57 15.20 14.58 13.27 13.76 12.57 11.23 8.46 2.58 2.80 2.87 2.86 14.85 7.9%
PETROCHINA CO LTD-H 1.53 1.44 1.34 1.25 1.11 0.87 0.79 0.74 0.71 0.71 5.13 5.45 4.73 4.52 4.56 6.15 6.19 5.54 5.14 4.92 11.29 12.88 11.12 10.19 10.60 3.94 3.55 4.00 4.35 4.37 12.13 14.8%
PING AN INSURANCE GROUP CO-H 3.07 2.62 2.25 1.98 2.48 1.73 1.16 0.98 0.88 20.36 17.99 13.94 11.92 9.30 0.92 0.91 1.16 1.32 1.78 76.24 19.4%
POWER ASSETS HOLDINGS LTD 2.44 2.34 2.18 2.04 1.95 13.77 13.84 13.53 13.24 13.37 16.13 16.61 16.10 15.76 25.43 19.31 19.60 19.07 18.41 19.76 16.36 15.27 14.58 13.95 15.05 3.33 3.66 3.85 3.94 3.92 65.23 -5.0%
SINO LAND CO 0.94 0.87 0.82 0.79 9.24 11.40 7.00 5.43 14.60 18.74 12.24 11.43 21.20 25.40 16.33 15.71 15.92 12.99 13.64 12.12 3.13 3.57 3.54 3.75 15.16 11.2%
SUN HUNG KAI PROPERTIES 0.94 0.87 0.83 0.79 5.09 4.97 4.58 4.05 4.12 10.93 14.96 20.13 14.45 14.94 14.11 13.18 12.49 14.73 14.33 13.75 12.60 13.27 2.87 2.87 2.97 3.10 134.48 13.0%
SWIRE PACIFIC LTD-A 0.67 0.69 0.67 0.67 4.45 3.47 3.27 3.03 13.61 12.99 13.79 12.38 23.37 17.00 17.78 16.20 15.37 15.67 15.66 13.91 5.17 2.98 3.29 3.66 100.82 2.2%
TENCENT HOLDINGS LTD 12.60 9.55 6.99 5.23 3.94 13.92 8.98 6.96 5.54 4.66 31.88 25.10 20.64 16.85 11.59 28.50 20.77 16.56 13.25 11.37 37.30 29.97 23.70 18.80 16.09 0.29 0.35 0.48 0.61 0.65 295.16 11.7%
TINGYI (CAYMAN ISLN) HLDG CO 7.12 5.88 5.31 4.72 3.88 1.83 1.54 1.30 1.12 1.02 13.66 11.08 11.98 9.80 7.12 15.22 13.02 10.90 9.19 7.21 32.95 31.76 25.11 20.59 15.98 1.52 1.74 2.01 2.54 3.26 23.17 13.3%
WANT WANT CHINA HOLDINGS LTD 15.10 11.36 9.61 8.13 7.23 6.31 5.15 4.22 3.55 2.96 38.17 26.94 22.90 19.09 14.62 32.58 22.47 17.95 14.96 11.24 45.80 33.52 26.94 22.53 17.85 1.46 1.82 2.26 2.77 3.35 10.91 2.3%
WHARF HOLDINGS LTD 1.07 0.87 0.84 0.80 8.92 6.24 6.08 5.42 60.53 20.77 23.32 13.25 21.26 15.90 15.73 14.07 24.86 18.77 17.67 15.20 1.55 1.93 2.03 2.28 67.13 1.6%
Price to Earnings Ratio
Valuation Measures II/II
Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
AIA Group Ltd. offers insurance and financial services. The Company writes
life insurance for individuals and businesses, accident and health insurance,
retirement planning, and wealth management services.
Latest Fiscal Year: 11/2012
LTM as of: 01/yy
52-Week High (27.02.2013) 32.95
52-Week Low (04.06.2012) 24.05
Daily Volume
32.85
52-Week High % Change -0.30% Dividend Yield 1.04
52-Week Low % Change 36.59% Beta 0.84
% 52 Week Price Range High/Low 88.76% Equity Float 12'039.65
Shares Out 30.11.2012 12'044.0 Short Int -
395'645.38 1 Yr Total Return 13.55%
Total Debt 1'229.00 YTD Return 8.60%
Preferred Stock 0.0 Adjusted BETA 0.835
Minority Interest 102.0 Analyst Recs 22
Cash and Equivalents 4'303.00 Consensus Rating 4.273
Enterprise Value 49'261.33
Average Volume 5 Day 35'619'150
1299 HK EQUITY YTD Change - Average Volume 30 Day 39'421'770
1299 HK EQUITY YTD % CHANGE - Average Volume 3 Month 68'123'060
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.11.2008 30.11.2009 30.11.2010 30.11.2011 30.11.2012 01/yy 01/yy 11/13 Y 11/14 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 21'566.5 24'330.0 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - - 1.93x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 2'858.4 3'215.0 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 17.72x 15.74x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin 15.24% Long-Term Outlook -
Pretax Margin 15.07% Short-Term Rating Date -
Return on Assets 1.47% Short-Term Rating -
Return on Common Equity 7.84%
Return on Capital 7.34% EBITDA/Interest Exp. -
Asset Turnover 0.12% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 5.8%
Net Income Margin 14.8% Total Debt/Capital 5.4%
Asset Turnover 0.12
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 1.07% Inventory Days -
Tot Debt to Common Equity 5.77% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
AIA Group LtdPrice/Volume
Valuation Analysis
94'653'532.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
AIA AURORA LLC n/a Research 2'240'184'000 18.6 - 06.03.2012 Other
JP MORGAN CHASE & CO n/a EXCH 692'523'609 5.75 - 08.02.2012 Investment Advisor
DEUTSCHE BANK AG n/a EXCH 398'438'707 3.31 - 02.11.2010 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 316'662'500 2.63 7'325'000 31.12.2011 Investment Advisor
FAIRHOLME CAPITAL MA Multiple Portfolios MF-AGG 302'221'000 2.51 - 30.11.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 192'143'000 1.6 13'958'600 31.12.2011 Investment Advisor
ABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 184'257'800 1.53 2'443'600 31.01.2012 Investment Advisor
WADDELL & REED FINAN Multiple Portfolios MF-AGG 159'991'900 1.33 11'111'200 30.09.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 128'036'453 1.06 5'411'217 31.01.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 116'484'600 0.97 (127'000) 08.03.2012 Investment Advisor
MORGAN STANLEY n/a EXCH 112'935'375 0.94 - 02.11.2010 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 89'970'263 0.75 1'810'776 31.12.2011 Investment Advisor
JANUS CAPITAL MANAGE Multiple Portfolios MF-AGG 89'544'200 0.74 (5'450'600) 31.12.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 86'553'200 0.72 3'395'600 31.12.2011 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 82'193'600 0.68 - 31.10.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 81'169'270 0.67 2'500'838 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 80'476'655 0.67 72'426'065 30.12.2011 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 75'648'400 0.63 3'913'400 29.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 75'157'642 0.62 75'157'642 30.06.2011 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 68'617'560 0.57 5'382'600 30.09.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan CHAN BAO LING overweight 5 M 34 12 month 09.03.2012
Credit Suisse ARJAN VAN VEEN neutral 3 M 30 Not Provided 06.03.2012
BOCOM International Holdings LI WENBING long-term buy 5 M 34 12 month 06.03.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 05.03.2012
Keefe, Bruyette & Woods STANLEY TSAI outperform 5 M 33 12 month 29.02.2012
Mizuho Securities THOMAS J MONACO buy 5 M 34 12 month 28.02.2012
Deutsche Bank ESTHER CHWEI buy 5 M 32 12 month 27.02.2012
Morgan Stanley BEN LIN Overwt/Attractive 5 M 32 12 month 27.02.2012
Yuanta Securities Investment ConsultingBARON NIE buy 5 M 33 Not Provided 27.02.2012
Macquarie SCOTT G RUSSELL restricted #N/A N/A M #N/A N/A Not Provided 27.02.2012
CIMB BERTRAM LAI outperform 5 M 34 12 month 27.02.2012
Citic Securities Co., Ltd FRANCIS CHAN sell 1 M 25 6 month 27.02.2012
HSBC MICHAEL P CHANG overweight 5 M 35 Not Provided 26.02.2012
CLSA Asia Pacific Markets PATRICIA CHENG underperform 1 M 28 Not Provided 26.02.2012
CCB International Securities Ltd KENNETH YUE neutral 3 M 30 Not Provided 26.02.2012
Standard Chartered PETER O'BRIEN outperform 5 M 35 12 month 24.02.2012
Societe Generale WILLIAM ELDERKIN hold 3 M 26 12 month 24.02.2012
Citi DARWIN LAM buy 5 M 34 Not Provided 24.02.2012
China International Capital Corp SALLY NG accumulate 4 M 35 12 month 24.02.2012
Nomura DAVID CHUNG buy 5 M 35 Not Provided 24.02.2012
Barclays Capital MARK KELLOCK equalwt/positive 3 M 32 Not Provided 24.02.2012
ICBC International Securities PIUS CHENG buy 5 M 33 Not Provided 24.02.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 30 Not Provided 24.02.2012
Goldman Sachs MANCY SUN Buy/Neutral 5 M 36 12 month 08.02.2012
Daiwa Securities Capital Markets Co. JENNIFER LAW buy 5 M 31 Not Provided 30.01.2012
Holdings By:
AIA Group Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Aluminum Corporation of China Limited, also known as Chalco, is a producer of
alumina and primary aluminum in China. The Company refines bauxite into
alumina and smelts aluminato to produce primary aluminum.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (27.02.2012) 4.41
52-Week Low (05.09.2012) 2.86
Daily Volume
3.3
52-Week High % Change -25.17% Dividend Yield -
52-Week Low % Change 15.38% Beta 1.46
% 52 Week Price Range High/Low 30.32% Equity Float 3'943.97
Shares Out 30.09.2012 3'944.0 Short Int -
70'783.45 1 Yr Total Return -20.86%
Total Debt 74'375.05 YTD Return -7.04%
Preferred Stock 0.0 Adjusted BETA 1.457
Minority Interest 6'301.3 Analyst Recs 22
Cash and Equivalents 11'644.74 Consensus Rating 1.500
Enterprise Value 149'629.23
Average Volume 5 Day 16'284'240
2600 HK EQUITY YTD Change - Average Volume 30 Day 20'196'900
2600 HK EQUITY YTD % CHANGE - Average Volume 3 Month 23'679'940
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 145'071.2 150'924.2 34'679.0 36'105.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 1.03x 1.03x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 3'410.8 6'986.8 1'621.0 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 43.87x 21.42x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - (5'212.4) (2'689.7) (841.5) (627.0)
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - - - - -
EBITDA 9'088.54 Long-Term Rating Date 12.09.2012
EBIT 3'228.38 Long-Term Rating -
Operating Margin 2.22% Long-Term Outlook NEG
Pretax Margin 0.56% Short-Term Rating Date -
Return on Assets -3.03% Short-Term Rating -
Return on Common Equity -10.11%
Return on Capital - EBITDA/Interest Exp. 2.17
Asset Turnover 0.88% (EBITDA-Capex)/Interest Exp. 0.06
Net Debt/EBITDA -
Gross Margin 5.1% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin -1.9% Total Debt/Equity 143.4%
Net Income Margin 0.2% Total Debt/Capital 56.1%
Asset Turnover 0.88
Current Ratio 0.80 Net Fixed Asset Turnover 1.57
Quick Ratio 0.28 Accounts receivable turnover-days 17.29
Debt to Assets 47.33% Inventory Days 62.35
Tot Debt to Common Equity 143.43% Accounts Payable Turnover Day 15.22
Accounts Receivable Turnover 21.17 Cash Conversion Cycle 57.72
Inventory Turnover 5.87
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Aluminum Corp of China LtdPrice/Volume
Valuation Analysis
15'842'870.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES I n/a EXCH 869'414'800 22.04 - 04.01.2012 Investment Advisor
BLACKROCK INC n/a EXCH 271'043'717 6.87 - 28.12.2011 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 186'643'700 4.73 - 16.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 173'336'000 4.39 (184'000) 08.03.2012 Investment Advisor
MORGAN STANLEY n/a Short (169'930'860) -4.31 - 09.01.2012 Investment Advisor
CREDIT SUISSE n/a EXCH 161'136'834 4.09 - 28.07.2011 Investment Advisor
MORGAN STANLEY n/a EXCH 156'702'435 3.97 - 09.01.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 144'357'584 3.66 196'000 31.12.2011 Investment Advisor
CREDIT SUISSE n/a Short (130'059'394) -3.3 - 28.07.2011 Investment Advisor
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 77'176'800 1.96 - 31.03.2011 Investment Advisor
JP MORGAN CHASE & CO n/a Short (44'124'781) -1.12 - 16.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 35'257'848 0.89 410'190 30.06.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 33'122'300 0.84 (24'000) 08.03.2012 Investment Advisor
CHINA INTERNATIONAL Multiple Portfolios MF-AGG 22'566'000 0.57 22'566'000 30.06.2011 Investment Advisor
BLACKROCK INC n/a Short (18'838'621) -0.48 - 28.12.2011 Investment Advisor
CREDIT SUISSE ASSET Multiple Portfolios MF-AGG 10'126'000 0.26 (144'000) 26.01.2012 Mutual Fund Manager
JF ASSET MANAGEMENT Multiple Portfolios MF-AGG 9'502'000 0.24 9'502'000 30.06.2011 Mutual Fund Manager
STATE STREET CORP Multiple Portfolios MF-AGG 8'514'304 0.22 - 08.03.2012 Investment Advisor
KB ASSET MANAGEMENT Multiple Portfolios MF-AGG 7'652'000 0.19 212'000 30.09.2011 Mutual Fund Manager
JP MORGAN ASSET MGMT Multiple Portfolios MF-AGG 4'324'000 0.11 (2'378'000) 26.10.2011 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley RACHEL L ZHANG Underwt/In-Line 1 M 3 12 month 09.03.2012
Goldman Sachs JULIAN ZHU neutral/neutral 3 M 4 12 month 09.03.2012
Bank of China International ROBIN TSUI hold 3 M 4 Not Provided 08.03.2012
JPMorgan DANIEL KANG neutral 3 M 4 12 month 05.03.2012
BOCOM International Holdings RONGJIN LUO neutral 3 M 4 12 month 02.03.2012
Citi AARON GE sell 1 M 3 Not Provided 01.03.2012
ICBC International Securities DUNCAN CHAN hold 3 M 4 Not Provided 03.02.2012
Mizuho Securities KELVIN NG underperform 1 M 3 12 month 31.01.2012
Daiwa Securities Capital Markets Co. ALEXANDER LATZER underperform 1 M 3 Not Provided 31.01.2012
Macquarie CHRISTINA LEE underperform 1 M 3 12 month 19.01.2012
Barclays Capital EPHREM RAVI underwt/positive 1 M 4 Not Provided 19.01.2012
CLSA Asia Pacific Markets ANDREW DRISCOLL sell 1 M 4 Not Provided 17.01.2012
RBS JEANNETTE SIM sell 1 M 3 12 month 12.01.2012
First Global Stockbroking ADITYA WELEKAR underperform 1 N #N/A N/A Not Provided 24.12.2011
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 06.12.2011
Religare Capital Markets CATHERINE WANG sell 1 M 4 12 month 02.11.2011
Credit Suisse TRINA CHEN underperform 1 M 2 Not Provided 26.10.2011
Standard Chartered CHEN YAN underperform 1 M 4 12 month 25.10.2011
China International Capital Corp CAI HONGYU hold 3 M 6 12 month 29.08.2011
Masterlink Securities SARAH WANG buy 5 U 8 Not Provided 22.06.2011
UOB Kay Hian HELEN LAU buy 5 M 11 Not Provided 15.03.2011
HSBC SARAH MAK overweight 5 M 10 Not Provided 02.03.2011
SWS Research Co Ltd ZHENG DI buy 5 M 12 Not Provided 08.11.2010
Deutsche Bank NAM NGUYEN not rated #N/A N/A M #N/A N/A Not Provided 17.09.2010
Phillip Securities FAN GUOHE hold 3 D 10 12 month 29.11.2009
China Merchants Securities WEI XIAOSHUANG neutral 3 D 4 Not Provided 13.02.2009
Holdings By:
Aluminum Corp of China Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Bank of China Ltd provides a complete range of banking and other financial
services to individual and corporation customers worldwide. The bank's services
include retail banking, Great Wall credit card and debit card services, consumer
credit, foreign currency transaction, corporate banking, settlement and
clearing,investment banking, and fund management businesses.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (04.02.2013) 4.00
52-Week Low (06.09.2012) 2.73
Daily Volume
3.55
52-Week High % Change -11.25% Dividend Yield 5.44
52-Week Low % Change 30.04% Beta 1.10
% 52 Week Price Range High/Low 66.14% Equity Float 72'987.26
Shares Out 31.12.2012 83'622.3 Short Int -
1'022'750.00 1 Yr Total Return 15.11%
Total Debt 1'916'969.00 YTD Return 2.60%
Preferred Stock 0.0 Adjusted BETA 1.098
Minority Interest 32'732.0 Analyst Recs 40
Cash and Equivalents 3'128'981.00 Consensus Rating 4.200
Enterprise Value -
Average Volume 5 Day #########
3988 HK EQUITY YTD Change - Average Volume 30 Day #########
3988 HK EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 379'949.0 479'512.0 360'061.0 390'151.9 87'114.0 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 4.59x 1.66x - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 97'951.0 121'475.0 132'492.0 135'646.3 26'767.7 34'739.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 9.14x 4.51x 6.05x 5.91x 5.94x 5.82x
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A
Operating Margin 49.70% Long-Term Outlook STABLE
Pretax Margin 51.24% Short-Term Rating Date 29.11.2011
Return on Assets 1.06% Short-Term Rating A-1
Return on Common Equity 18.13%
Return on Capital 4.46% EBITDA/Interest Exp. -
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 265.1%
Net Income Margin 37.7% Total Debt/Capital 71.7%
Asset Turnover 0.05
Current Ratio - Net Fixed Asset Turnover 4.06
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 16.20% Inventory Days -
Tot Debt to Common Equity 265.08% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Bank of China LtdPrice/Volume
Valuation Analysis
401'756'054.00
Current Price (2/dd/yy) Market Data
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1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SOCIAL SECURITY FUND n/a EXCH 8'357'384'041 9.99 - 08.02.2012 Pension Fund (ERISA)
TEMASEK HOLDINGS PRI n/a EXCH 5'914'493'996 7.07 91'414'000 22.08.2011 Government
BLACKROCK INC n/a EXCH 4'768'778'810 5.7 - 01.03.2012 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 3'776'242'843 4.52 - 07.01.2010 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'468'039'448 2.95 39'606'000 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'855'750'000 2.22 (1'147'000) 08.03.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 1'362'527'600 1.63 (31'174'500) 31.12.2011 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 1'293'058'600 1.55 (455'830'800) 31.12.2011 Investment Advisor
BLACKROCK INC n/a Short (845'783'598) -1.01 - 01.03.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 589'653'791 0.71 4'184'000 08.03.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 559'128'105 0.67 4'982'481 30.06.2011 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 346'664'500 0.41 (3'852'000) 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 313'567'102 0.37 (336'214'237) 30.12.2011 Investment Advisor
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 312'354'255 0.37 (4'397'000) 30.11.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 252'740'100 0.3 28'264'000 31.12.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 249'229'386 0.3 (207'415'000) 30.09.2011 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 243'042'000 0.29 (27'844'000) 08.03.2012 Investment Advisor
PRUDENTIAL ASSET MGM Multiple Portfolios MF-AGG 191'503'000 0.23 23'750'000 06.10.2011 Investment Advisor
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 179'747'700 0.21 (118'000) 31.10.2011 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 177'081'500 0.21 (37'667'400) 29.07.2011 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co MIKE WERNER market perform 3 M 5 12 month 12.03.2012
Nomura LUCY FENG buy 5 M 4 Not Provided 12.03.2012
UOB Kay Hian EDMOND LAW hold 3 M 4 Not Provided 12.03.2012
Keefe, Bruyette & Woods WARREN BLIGHT market perform 3 M 5 12 month 09.03.2012
Goldman Sachs NING MA Buy/Neutral 5 U 4 12 month 07.03.2012
BNP Paribas Equity Research ELLIE LI buy 5 M 4 12 month 07.03.2012
BOCOM International Holdings LI SHANSHAN buy 5 M 4 12 month 05.03.2012
EVA Dimensions TEAM COVERAGE hold 3 D #N/A N/A Not Provided 05.03.2012
ICBC International Securities IVAN LIN buy 5 U 4 Not Provided 29.02.2012
Barclays Capital MAY YAN underwt/neutral 1 D 3 Not Provided 28.02.2012
Citic Securities Co., Ltd ZHU YAN add 4 M #N/A N/A Not Provided 27.02.2012
Bank of China International JINHUA YIN buy 5 M 4 Not Provided 24.02.2012
Credit Suisse SANJAY JAIN neutral 3 M 4 Not Provided 23.02.2012
Mizuho Securities JIM ANTOS underperform 1 M 3 12 month 23.02.2012
DBS Vickers ALEXANDER LEE buy 5 M 4 12 month 22.02.2012
CIMB JAMES LIU neutral 3 M 4 12 month 22.02.2012
Citi SIMON HO neutral 3 M 3 Not Provided 20.02.2012
HSBC TODD DUNIVANT overweight 5 M 4 Not Provided 13.02.2012
Kim Eng Securities IVAN LI buy 5 M 4 12 month 03.02.2012
Standard Chartered LAWRENCE CHEN outperform 5 M 4 12 month 01.02.2012
Deutsche Bank TRACY YU buy 5 M 4 12 month 16.01.2012
Macquarie VICTOR WANG outperform 5 M 4 12 month 13.01.2012
JPMorgan SAMUEL SHUN CHEN neutral 3 M 6 9 month 12.01.2012
CCB International Securities Ltd SHENG NAN neutral 3 N 3 Not Provided 09.01.2012
CLSA Asia Pacific Markets KEVIN CHAN buy 5 U 4 Not Provided 05.01.2012
Morgan Stanley MINYAN LIU Equalwt/In-Line 3 M 3 12 month 18.12.2011
Yuanta Securities Investment ConsultingTAN MING hold 3 D 3 Not Provided 13.12.2011
Daiwa Securities Capital Markets Co. GRACE WU hold 3 M 3 Not Provided 07.11.2011
Guotai Junan WILSON LI accumulate 4 M 5 Not Provided 01.11.2011
Religare Capital Markets SOPHIE JIANG buy 5 N 3 12 month 31.10.2011
ABC International EDMOND LAW buy 5 M 4 Not Provided 31.10.2011
Capital Securities Corp TEAM COVERAGE hold 3 M #N/A N/A Not Provided 27.10.2011
China International Capital Corp MAO JUNHUA buy 5 M 6 12 month 27.10.2011
SWS Research Co Ltd ROBERT HU neutral 3 D 4 Not Provided 27.10.2011
Core Pacific LI TIMOTHY hold 3 M 3 Not Provided 27.10.2011
RBS IRENE HUANG buy 5 M 4 12 month 25.10.2011
Phillip Securities CHEN XINGYU buy 5 M 4 12 month 31.08.2011
Mirae Asset Securities NAN LI buy 5 M 4 12 month 25.08.2011
Masterlink Securities RAINY YUAN hold 3 M 5 6 month 28.03.2011
KGI Securities MICHELLE CHEN neutral 3 M 4 12 month 25.03.2010
Holdings By:
Bank of China Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Bank of Communications Co. Ltd. provides a full range of commercial banking
services including RMB and foreign currency deposit, loan, international and
domestic settlement, discount, currency trading, letter of credit, bank
guarantee, and other related services.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (04.02.2013) 6.70
52-Week Low (16.07.2012) 4.75
Daily Volume
5.93
52-Week High % Change -11.49% Dividend Yield 2.10
52-Week Low % Change 24.84% Beta 1.21
% 52 Week Price Range High/Low 61.03% Equity Float 10'041.70
Shares Out 30.09.2012 35'011.9 Short Int -
446'250.06 1 Yr Total Return 0.20%
Total Debt 949'230.00 YTD Return 1.54%
Preferred Stock 0.0 Adjusted BETA 1.214
Minority Interest 986.0 Analyst Recs 39
Cash and Equivalents 1'181'145.00 Consensus Rating 3.256
Enterprise Value -
Average Volume 5 Day 29'190'470
3328 HK EQUITY YTD Change - Average Volume 30 Day 34'506'550
3328 HK EQUITY YTD % CHANGE - Average Volume 3 Month 35'979'460
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 153'248.0 205'721.0 146'723.2 160'080.0 34'523.0 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 10.20x 2.63x - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 36'780.0 47'921.0 56'325.5 57'779.8 11'811.0 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 10.34x 5.02x 5.80x 6.00x - -
EBITDA - Long-Term Rating Date 06.12.2011
EBIT - Long-Term Rating A-
Operating Margin 49.99% Long-Term Outlook STABLE
Pretax Margin 50.16% Short-Term Rating Date 28.11.2012
Return on Assets 1.17% Short-Term Rating A-2
Return on Common Equity 20.32%
Return on Capital 4.37% EBITDA/Interest Exp. -
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 349.2%
Net Income Margin 38.9% Total Debt/Capital 77.7%
Asset Turnover 0.05
Current Ratio - Net Fixed Asset Turnover 6.81
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 20.59% Inventory Days -
Tot Debt to Common Equity 349.24% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Bank of Communications Co LtdPrice/Volume
Valuation Analysis
29'952'460.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
140'000.0
160'000.0
180'000.0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HSBC HOLDINGS PLC n/a EXCH 11'796'013'770 40.43 - 04.08.2011 Investment Advisor
SOCIAL SECURITY FUND n/a Co File 7'027'777'778 24.09 916'666'667 31.12.2010 Pension Fund (ERISA)
CHINA MINISTRY OF FI n/a Co File 3'795'000'000 13.01 - 31.12.2010 Government
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 385'479'600 1.32 (443'000) 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 268'387'453 0.92 (51'000) 31.12.2011 Investment Advisor
PRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 96'695'231 0.33 3'425'000 31.01.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 80'440'703 0.28 (48'000) 08.03.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 65'206'510 0.22 761'248 30.06.2011 Investment Advisor
MORGAN STANLEY Multiple Portfolios MF-AGG 20'424'181 0.07 2'934'309 31.12.2011 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 12'094'076 0.04 - 30.11.2011 Investment Advisor
MANULIFE ASSET MANAG Multiple Portfolios MF-AGG 11'893'058 0.04 - 30.04.2011 Investment Advisor
STATE STREET CORP Multiple Portfolios MF-AGG 11'630'028 0.04 - 08.03.2012 Investment Advisor
HALBIS CAPITAL MGMT Multiple Portfolios MF-AGG 9'841'700 0.03 (2'702'700) 20.01.2011 Hedge Fund Manager
STB ASSET MANAGEMENT Multiple Portfolios MF-AGG 9'437'975 0.03 - 25.11.2011 Mutual Fund Manager
AMUNDI LUXEMBOURG SA Multiple Portfolios MF-AGG 9'388'050 0.03 9'060'000 30.12.2011 Investment Advisor
DWS INVESTMENT S A Multiple Portfolios MF-AGG 8'711'000 0.03 - 31.01.2012 Mutual Fund Manager
SEB FONDFORVALTNING Multiple Portfolios MF-AGG 7'927'000 0.03 5'988'800 30.09.2011 Mutual Fund Manager
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 7'250'018 0.02 - 31.08.2011 Investment Advisor
UBI PRAMERICA SGR SP Multiple Portfolios MF-AGG 6'083'900 0.02 3'814'000 30.11.2011 Mutual Fund Manager
HANDELSBANKEN FONDER Multiple Portfolios MF-AGG 5'989'142 0.02 - 31.01.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co MIKE WERNER market perform 3 M 7 12 month 12.03.2012
UOB Kay Hian EDMOND LAW hold 3 M 6 Not Provided 12.03.2012
Nomura LUCY FENG neutral 3 M 6 Not Provided 11.03.2012
Keefe, Bruyette & Woods WARREN BLIGHT market perform 3 M 7 12 month 09.03.2012
Goldman Sachs NING MA Sell/Neutral 1 M 7 12 month 07.03.2012
ICBC International Securities IVAN LIN hold 3 M 7 Not Provided 29.02.2012
Barclays Capital MAY YAN underwt/neutral 1 M 6 Not Provided 28.02.2012
Citic Securities Co., Ltd ZHU YAN add 4 M #N/A N/A Not Provided 27.02.2012
Bank of China International JINHUA YIN hold 3 M 7 Not Provided 24.02.2012
Credit Suisse SANJAY JAIN underperform 1 M 6 Not Provided 23.02.2012
Mizuho Securities JIM ANTOS underperform 1 M 5 12 month 23.02.2012
DBS Vickers ALEXANDER LEE buy 5 M 7 12 month 22.02.2012
CIMB JAMES LIU neutral 3 M 7 12 month 22.02.2012
Citi SIMON HO buy 5 M 7 Not Provided 20.02.2012
China International Capital Corp MAO JUNHUA buy 5 M 8 12 month 14.02.2012
RBS IRENE HUANG buy 5 M 7 12 month 13.02.2012
HSBC TODD DUNIVANT neutral 3 M 7 Not Provided 13.02.2012
Mirae Asset Securities NAN LI hold 3 D 6 12 month 13.02.2012
CLSA Asia Pacific Markets KEVIN CHAN underperform 1 M 6 Not Provided 13.02.2012
Religare Capital Markets SOPHIE JIANG sell 1 D 5 12 month 10.02.2012
Standard Chartered LAWRENCE CHEN in-line 3 D 6 12 month 09.02.2012
JPMorgan SAMUEL SHUN CHEN overweight 5 M 10 9 month 09.02.2012
Kim Eng Securities IVAN LI buy 5 M 7 12 month 03.02.2012
Deutsche Bank TRACY YU hold 3 M 7 12 month 16.01.2012
Masterlink Securities RAINY YUAN hold 3 M 7 Not Provided 13.01.2012
Macquarie VICTOR WANG outperform 5 M 8 12 month 13.01.2012
CCB International Securities Ltd SHENG NAN neutral 3 N 6 Not Provided 09.01.2012
EVA Dimensions TEAM COVERAGE buy 5 N #N/A N/A Not Provided 06.01.2012
Morgan Stanley MINYAN LIU Equalwt/In-Line 3 D 7 12 month 18.12.2011
Yuanta Securities Investment ConsultingTAN MING hold 3 M 6 Not Provided 13.12.2011
BNP Paribas Equity Research ELLIE LI hold 3 M 6 12 month 08.12.2011
Phillip Securities CHEN XINGYU buy 5 M 6 12 month 31.10.2011
ABC International EDMOND LAW buy 5 M 7 Not Provided 31.10.2011
Capital Securities Corp TEAM COVERAGE buy 5 M 9 12 month 28.10.2011
Core Pacific LI TIMOTHY hold 3 M 6 Not Provided 28.10.2011
BOCOM International Holdings LI SHANSHAN restricted #N/A N/A M #N/A N/A Not Provided 20.10.2011
SWS Research Co Ltd ROBERT HU neutral 3 M 9 Not Provided 31.08.2011
Guotai Junan WILSON LI accumulate 4 M 8 Not Provided 22.08.2011
Daiwa Securities Capital Markets Co. GRACE WU outperform 5 D 7 Not Provided 18.08.2011
Holdings By:
Bank of Communications Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
The Bank of East Asia, Ltd. and its subsidiaries provide general banking and
related financial services, and business corporate and investor services.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (04.02.2013) 32.45
52-Week Low (08.06.2012) 24.95
Daily Volume
31.55
52-Week High % Change -2.77% Dividend Yield 3.36
52-Week Low % Change 26.45% Beta 0.91
% 52 Week Price Range High/Low 84.00% Equity Float 1'720.96
Shares Out 31.12.2012 2'227.1 Short Int -
70'265.12 1 Yr Total Return 7.22%
Total Debt 57'344.00 YTD Return 6.41%
Preferred Stock 0.0 Adjusted BETA 0.906
Minority Interest 4'486.0 Analyst Recs 27
Cash and Equivalents 136'130.00 Consensus Rating 2.630
Enterprise Value -
Average Volume 5 Day 2'192'881
23 HK EQUITY YTD Change - Average Volume 30 Day 1'867'034
23 HK EQUITY YTD % CHANGE - Average Volume 3 Month 2'121'272
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 09/12 Q3 12/12 Q4
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 15'643.9 17'081.3 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... #DIV/0! #DIV/0! - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 5'017.8 5'460.5 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 14.19x 13.18x - -
EBITDA - Long-Term Rating Date 01.12.2011
EBIT - Long-Term Rating A
Operating Margin 39.09% Long-Term Outlook STABLE
Pretax Margin 47.42% Short-Term Rating Date 01.12.2011
Return on Assets 0.93% Short-Term Rating A-1
Return on Common Equity 11.56%
Return on Capital 5.73% EBITDA/Interest Exp. -
Asset Turnover 0.04% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 100.3%
Net Income Margin 38.0% Total Debt/Capital 48.2%
Asset Turnover 0.04
Current Ratio - Net Fixed Asset Turnover 3.01
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 8.29% Inventory Days -
Tot Debt to Common Equity 100.33% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Bank of East Asia LtdPrice/Volume
Valuation Analysis
5'168'207.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAIXABANK n/a EXCH 330'024'107 15.9 - 12.08.2011 Investment Advisor
GUOCO GROUP LTD n/a EXCH 291'358'150 14.03 - 11.10.2011 Other
LI KWOK PO n/a EXCH 54'121'573 2.61 100'000 10.10.2011 n/a
KWOK SING LI n/a EXCH 34'268'022 1.65 - 19.09.2011 n/a
FOOK CHUEN LI n/a EXCH 27'033'091 1.3 - 19.09.2011 n/a
KWOK CHEUNG LI n/a EXCH 23'884'140 1.15 - 19.09.2011 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 21'437'850 1.03 (23'000) 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 15'537'191 0.75 304'200 31.12.2011 Investment Advisor
LI KWOK-SZE n/a EXCH 14'598'580 0.7 - 19.09.2011 n/a
STATE STREET GLOBAL Multiple Portfolios MF-AGG 13'711'236 0.66 (714'839) 30.06.2011 Investment Advisor
CHI YUN WONG n/a EXCH 13'646'373 0.66 - 19.09.2011 n/a
KOWLOON DAIRY LTD n/a EXCH 9'215'746 0.44 - 19.09.2011 Corporation
MAN WAI MONG n/a EXCH 8'117'876 0.39 - 14.01.2010 n/a
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 6'710'918 0.32 (1'000'000) 31.10.2011 Investment Advisor
KAY PENG KHOO n/a EXCH 5'442'216 0.26 - 19.09.2011 n/a
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 5'185'900 0.25 (481'600) 30.06.2011 Investment Advisor
LAZARD GLOBAL ACTIVE Multiple Portfolios MF-AGG 4'228'890 0.2 27'500 31.01.2012 Investment Advisor
MALAYAN UNITED INDUS n/a Co File 4'158'301 0.2 - 31.12.2010 Holding Company
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 3'289'158 0.16 - 30.11.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 2'323'810 0.11 (24'600) 08.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Citi GARY LAM neutral 3 M 30 Not Provided 12.03.2012
Citic Securities Co., Ltd STEVEN CHAN hold 3 M 32 6 month 01.03.2012
Keefe, Bruyette & Woods WARREN BLIGHT underperform 1 M 29 12 month 29.02.2012
Deutsche Bank SOPHIA LEE hold 3 M 26 12 month 20.02.2012
Macquarie ISMAEL PILI underperform 1 M 27 12 month 17.02.2012
Credit Suisse FRANCO LAM underperform 1 M 24 Not Provided 16.02.2012
Sanford C. Bernstein & Co MIKE WERNER underperform 1 M 25 12 month 15.02.2012
Bank of China International MIMI KONG hold 3 M 30 Not Provided 15.02.2012
DBS Vickers ALEXANDER LEE fully valued 2 M 24 12 month 15.02.2012
Mizuho Securities JIM ANTOS underperform 1 M 22 12 month 15.02.2012
China International Capital Corp SALLY NG hold 3 M 29 12 month 15.02.2012
UOB Kay Hian SIMON NG sell 1 D 28 Not Provided 15.02.2012
Mirae Asset Securities PATRICK PONG hold 3 M 32 12 month 15.02.2012
Core Pacific LI TIMOTHY hold 3 M 30 Not Provided 15.02.2012
CLSA Asia Pacific Markets KEVIN CHAN outperform 5 M 34 Not Provided 15.02.2012
Standard Chartered LAWRENCE CHEN in-line 3 M 30 12 month 14.02.2012
Morgan Stanley ANIL AGARWAL Underwt/Cautious 1 M 26 12 month 14.02.2012
Goldman Sachs GURPREET SINGH SAHI Sell/Neutral 1 M 25 12 month 14.02.2012
JPMorgan JOSEPH LEUNG neutral 3 M 32 9 month 14.02.2012
HSBC TODD DUNIVANT underweight 1 M 27 Not Provided 14.02.2012
Daiwa Securities Capital Markets Co. QUEENIE POON hold 3 M 28 Not Provided 14.02.2012
BNP Paribas Equity Research DOMINIC CHAN buy 5 M 42 12 month 14.02.2012
Nomura DANIEL SHUM reduce 2 M 22 Not Provided 14.02.2012
CCB International Securities Ltd ADAM CHAN neutral 3 M 29 Not Provided 14.02.2012
Barclays Capital SHARNIE WONG underwt/neutral 1 M 26 Not Provided 14.02.2012
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 30.11.2011
Kim Eng Securities IVAN LI hold 3 M 31 12 month 08.08.2011
Holdings By:
Bank of East Asia Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Belle International Holdings Limited retails woman's footwear. The Company
operates retail stores in the Peoples Republic of China, Hong Kong, Macau, and
the United States.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (19.02.2013) 18.58
52-Week Low (04.06.2012) 11.80
Daily Volume
14.24
52-Week High % Change -23.36% Dividend Yield 1.40
52-Week Low % Change 20.68% Beta 1.00
% 52 Week Price Range High/Low 37.76% Equity Float 4'475.75
Shares Out 30.06.2012 8'434.2 Short Int -
120'103.48 1 Yr Total Return 13.98%
Total Debt 1'895.42 YTD Return -15.34%
Preferred Stock 0.0 Adjusted BETA 1.002
Minority Interest 170.1 Analyst Recs 33
Cash and Equivalents 6'750.82 Consensus Rating 3.515
Enterprise Value 91'228.29
Average Volume 5 Day 65'178'460
1880 HK EQUITY YTD Change - Average Volume 30 Day 22'174'740
1880 HK EQUITY YTD % CHANGE - Average Volume 3 Month 18'262'800
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 33'338.8 39'028.2 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 2.76x 2.31x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 6'336.4 7'443.5 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 14.40x 12.26x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 4'452.0 5'211.2 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 21.61x 18.44x - -
EBITDA 6'034.58 Long-Term Rating Date -
EBIT 5'271.47 Long-Term Rating -
Operating Margin 18.21% Long-Term Outlook -
Pretax Margin 18.90% Short-Term Rating Date -
Return on Assets 17.90% Short-Term Rating -
Return on Common Equity 23.17%
Return on Capital 20.80% EBITDA/Interest Exp. 321.64
Asset Turnover 1.24% (EBITDA-Capex)/Interest Exp. 231.17
Net Debt/EBITDA -0.83
Gross Margin 57.2% Total Debt/EBITDA 0.38
EBITDA Margin 20.7%
EBIT Margin 17.9% Total Debt/Equity 9.8%
Net Income Margin 14.7% Total Debt/Capital 8.8%
Asset Turnover 1.24
Current Ratio 3.06 Net Fixed Asset Turnover 8.72
Quick Ratio 1.63 Accounts receivable turnover-days 30.01
Debt to Assets 7.38% Inventory Days 160.78
Tot Debt to Common Equity 9.76% Accounts Payable Turnover Day 29.57
Accounts Receivable Turnover 12.20 Cash Conversion Cycle 167.67
Inventory Turnover 2.28
Fiscal Year Ended
Belle International Holdings LtdPrice/Volume
Valuation Analysis
30'663'090.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PROFIT LEADER HOLDIN n/a EXCH 2'627'500'000 31.15 (117'875'000) 14.09.2011 n/a
HANDY LTD n/a EXCH 580'877'000 6.89 (76'873'000) 14.09.2011 n/a
ESSEN WORLDWIDE HLDG n/a EXCH 573'373'000 6.8 (45'252'000) 14.09.2011 Other
JP MORGAN CHASE & CO n/a EXCH 422'814'793 5.01 - 07.12.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 198'152'748 2.35 8'942'894 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 140'368'055 1.66 14'775'334 30.12.2011 Investment Advisor
TANG WING SZE n/a EXCH 81'842'500 0.97 - 20.09.2011 n/a
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 81'200'000 0.96 54'500'000 31.12.2011 Investment Advisor
ARTIO GLOBAL MANAGEM Multiple Portfolios MF-AGG 75'071'000 0.89 (5'765'000) 31.10.2011 Investment Advisor
BAIJIAO SHENG n/a EXCH 75'000'000 0.89 - 14.09.2011 n/a
FIRST STATE INVESTME Multiple Portfolios MF-AGG 73'387'000 0.87 - 31.10.2011 Mutual Fund Manager
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 65'884'000 0.78 2'888'000 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 51'422'000 0.61 44'000 08.03.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 41'693'000 0.49 3'590'000 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 41'469'525 0.49 659'502 30.06.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 38'618'985 0.46 4'663'985 31.01.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 38'131'000 0.45 (148'000) 31.12.2011 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 34'993'000 0.41 12'048'000 30.09.2011 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 25'710'000 0.3 (1'638'000) 30.12.2011 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 25'700'000 0.3 21'800'000 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura SARAH XING buy 5 M 16 Not Provided 08.03.2012
EVA Dimensions TEAM COVERAGE underweight 1 U #N/A N/A Not Provided 05.03.2012
BOCOM International Holdings PHOEBE WONG neutral 3 M 11 12 month 29.02.2012
Morgan Stanley ROBERT LIN Overwt/Attractive 5 M 16 12 month 27.02.2012
Haitong International Securities WANG ELYSE buy 5 M 15 12 month 23.02.2012
JPMorgan KURUMLU EBRU SENER overweight 5 M 16 9 month 20.02.2012
Piper Jaffray TERRY WY CHENG neutral 3 M 13 12 month 15.02.2012
Core Pacific EUGENE MAK buy 5 M 15 Not Provided 10.02.2012
Goldman Sachs CAROLINE LI neutral/neutral 3 D 14 12 month 08.02.2012
RBS KATHERINE CHAN sell 1 D 9 12 month 18.01.2012
Credit Suisse KEVIN YIN outperform 5 M 15 Not Provided 17.01.2012
ICBC International Securities CARRIE CHAN buy 5 M 14 Not Provided 17.01.2012
Mirae Asset Securities SELINA SIA reduce 2 D 10 12 month 16.01.2012
Barclays Capital CANDY HUANG overwt/neutral 5 M 18 Not Provided 16.01.2012
Mizuho Securities PETER TANG buy 5 M 14 12 month 13.01.2012
China International Capital Corp HAIYAN GUO buy 5 M 19 12 month 13.01.2012
SWS Research Co Ltd JOYCE JIA outperform 5 M 15 Not Provided 13.01.2012
UOB Kay Hian KEN LEE buy 5 M 17 Not Provided 13.01.2012
CCB International Securities Ltd FORREST CHAN outperform 5 M 15 Not Provided 13.01.2012
Citi CATHERINE LIM buy 5 M 16 Not Provided 12.01.2012
HSBC CHRISTOPHER K LEUNG neutral 3 D 14 Not Provided 11.01.2012
CLSA Asia Pacific Markets XIAOPO WEI buy 5 M 19 Not Provided 06.01.2012
First Shanghai Securities Ltd CHRISTINA LIE hold 3 M 15 12 month 24.12.2011
Macquarie LINDA HUANG outperform 5 M 19 12 month 11.11.2011
Guotai Junan JERRY PENG buy 5 M 19 Not Provided 27.08.2011
Deutsche Bank ANNE LING buy 5 M 17 12 month 25.08.2011
KGI Securities MICHELLE CHEN outperform 5 M 18 12 month 13.01.2011
Holdings By:
Belle International Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
BOC Hong Kong (Holdings) Limited provides a comprehensive range of financial
products and services to retail and corporate customers. Its products include
retail banking, corporate banking, and treasury services. The Company operates
its branches in Hong Kong and China.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (04.02.2013) 27.10
52-Week Low (07.03.2012) 20.80
Daily Volume
25.35
52-Week High % Change -6.46% Dividend Yield 4.35
52-Week Low % Change 21.88% Beta 0.97
% 52 Week Price Range High/Low 74.60% Equity Float 3'588.38
Shares Out 30.09.2012 10'572.8 Short Int -
268'019.97 1 Yr Total Return 24.97%
Total Debt 274'572.00 YTD Return 5.19%
Preferred Stock 0.0 Adjusted BETA 0.967
Minority Interest 3'418.0 Analyst Recs 32
Cash and Equivalents 419'465.00 Consensus Rating 4.219
Enterprise Value -
Average Volume 5 Day 11'716'970
2388 HK EQUITY YTD Change - Average Volume 30 Day 13'951'130
2388 HK EQUITY YTD % CHANGE - Average Volume 3 Month 12'944'820
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 35'724.4 39'275.9 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 20'268.6 21'497.5 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 13.10x 12.40x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin 55.20% Long-Term Outlook -
Pretax Margin 60.60% Short-Term Rating Date -
Return on Assets 1.12% Short-Term Rating -
Return on Common Equity 14.75%
Return on Capital 4.72% EBITDA/Interest Exp. -
Asset Turnover 0.03% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 211.6%
Net Income Margin 50.2% Total Debt/Capital 67.3%
Asset Turnover 0.03
Current Ratio - Net Fixed Asset Turnover 1.34
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 15.79% Inventory Days -
Tot Debt to Common Equity 211.59% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
BOC Hong Kong Holdings LtdPrice/Volume
Valuation Analysis
19'631'558.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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20'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BOC HONG KONG BVI LT n/a Co File 6'984'274'213 66.06 - 31.12.2010 Government
FIDELITY INTERNATION Multiple Portfolios MF-AGG 79'277'609 0.75 (18'415'683) 30.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 50'014'500 0.47 (50'000) 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 35'727'101 0.34 799'818 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 33'080'948 0.31 387'599 30.06.2011 Investment Advisor
WADDELL & REED FINAN Multiple Portfolios MF-AGG 30'922'800 0.29 (76'957'200) 30.09.2011 Investment Advisor
PRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 27'471'000 0.26 981'500 31.01.2012 Investment Advisor
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 25'183'500 0.24 (2'081'000) 31.01.2012 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 23'788'412 0.22 (679'000) 30.06.2011 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 21'432'500 0.2 24'000 31.12.2011 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios MF-AGG 18'105'500 0.17 - 31.12.2010 Mutual Fund Manager
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 16'845'066 0.16 (2'889'000) 31.01.2012 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 14'555'500 0.14 (107'500) 30.12.2011 Investment Advisor
SUMITOMO MITSUI ASSE Multiple Portfolios MF-AGG 11'452'000 0.11 (131'500) 30.09.2012 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 11'284'821 0.11 (3'000) 31.01.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 9'529'500 0.09 (6'826'500) 30.06.2011 Investment Advisor
CHINA SOUTHERN FUND Multiple Portfolios MF-AGG 9'400'000 0.09 1'000'000 30.06.2011 Investment Advisor
RCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 7'970'000 0.08 835'500 31.01.2012 Investment Advisor
CHINA INTERNATIONAL Multiple Portfolios MF-AGG 7'803'000 0.07 (997'000) 30.06.2011 Investment Advisor
NOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 7'177'000 0.07 91'500 31.10.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan JOSEPH LEUNG overweight 5 M 22 12 month 12.03.2012
Core Pacific LI TIMOTHY hold 3 D 24 Not Provided 12.03.2012
Citic Securities Co., Ltd STEVEN CHAN hold 3 M 21 6 month 01.03.2012
Keefe, Bruyette & Woods WARREN BLIGHT market perform 3 M 24 12 month 29.02.2012
Kim Eng Securities IVAN LI buy 5 U 26 12 month 20.02.2012
Macquarie ISMAEL PILI underperform 1 M 18 12 month 15.02.2012
HSBC TODD DUNIVANT overweight 5 M 26 Not Provided 13.02.2012
Barclays Capital SHARNIE WONG equalwt/neutral 3 M 22 Not Provided 13.02.2012
Nomura DANIEL SHUM buy 5 M 25 Not Provided 10.02.2012
CCB International Securities Ltd ADAM CHAN outperform 5 M 26 Not Provided 09.02.2012
Deutsche Bank SOPHIA LEE buy 5 M 24 12 month 06.02.2012
Sanford C. Bernstein & Co MIKE WERNER outperform 5 M 24 12 month 03.02.2012
EVA Dimensions TEAM COVERAGE underweight 1 D #N/A N/A Not Provided 13.01.2012
DBS Vickers ALEXANDER LEE buy 5 M 23 12 month 10.01.2012
China International Capital Corp SALLY NG accumulate 4 M 24 12 month 04.01.2012
BOCOM International Holdings YANG QINGLI long-term buy 5 N 24 12 month 30.12.2011
Bank of China International MIMI KONG buy 5 M 23 Not Provided 13.12.2011
Daiwa Securities Capital Markets Co. GRACE WU outperform 5 M 21 Not Provided 13.12.2011
Credit Suisse FRANCO LAM outperform 5 M 23 Not Provided 30.11.2011
Mizuho Securities JIM ANTOS neutral 3 N 19 12 month 30.11.2011
Mirae Asset Securities PATRICK PONG buy 5 M 24 12 month 30.11.2011
Citi GARY LAM buy 5 M 20 Not Provided 25.11.2011
UOB Kay Hian SIMON NG buy 5 M 30 Not Provided 23.11.2011
Morgan Stanley ANIL AGARWAL Equalwt/Cautious 3 D 17 12 month 03.11.2011
Goldman Sachs VINCENT CHANG neutral/neutral 3 D 21 12 month 02.11.2011
CLSA Asia Pacific Markets KEVIN CHAN buy 5 M 27 Not Provided 25.10.2011
Guotai Junan WILSON LI neutral 3 M 23 Not Provided 29.08.2011
BNP Paribas Equity Research DOMINIC CHAN buy 5 M 32 12 month 25.08.2011
Standard Chartered LAWRENCE CHEN in-line 3 M 26 12 month 27.07.2011
Holdings By:
BOC Hong Kong Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Cathay Pacific Airways Limited operates scheduled airline services. The Company
also provides related services, including airline catering, aircraft handling,
and engineering.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (14.03.2012) 16.00
52-Week Low (18.05.2012) 11.76
Daily Volume
14.54
52-Week High % Change -9.13% Dividend Yield 2.34
52-Week Low % Change 23.64% Beta 0.88
% 52 Week Price Range High/Low 60.38% Equity Float 1'365.75
Shares Out 30.06.2012 3'933.8 Short Int -
57'198.10 1 Yr Total Return 5.78%
Total Debt 49'013.00 YTD Return 2.25%
Preferred Stock 0.0 Adjusted BETA 0.882
Minority Interest 135.0 Analyst Recs 23
Cash and Equivalents 19'597.00 Consensus Rating 3.174
Enterprise Value 93'001.10
Average Volume 5 Day 4'346'109
293 HK EQUITY YTD Change - Average Volume 30 Day 4'073'042
293 HK EQUITY YTD % CHANGE - Average Volume 3 Month 3'914'851
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 98'091.7 105'721.2 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 0.94x 0.91x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 8'768.4 11'672.8 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 10.61x 7.97x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 644.0 2'889.9 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 87.07x 19.95x - -
EBITDA 11'431.00 Long-Term Rating Date -
EBIT 5'263.00 Long-Term Rating -
Operating Margin 5.35% Long-Term Outlook -
Pretax Margin 6.58% Short-Term Rating Date -
Return on Assets 1.24% Short-Term Rating -
Return on Common Equity 3.25%
Return on Capital 2.65% EBITDA/Interest Exp. 12.58
Asset Turnover 0.71% (EBITDA-Capex)/Interest Exp. -6.80
Net Debt/EBITDA 2.54
Gross Margin - Total Debt/EBITDA 3.84
EBITDA Margin 14.0%
EBIT Margin 2.5% Total Debt/Equity 87.8%
Net Income Margin 5.6% Total Debt/Capital 46.7%
Asset Turnover 0.71
Current Ratio 0.76 Net Fixed Asset Turnover 1.38
Quick Ratio 0.58 Accounts receivable turnover-days 22.99
Debt to Assets 34.32% Inventory Days -
Tot Debt to Common Equity 87.82% Accounts Payable Turnover Day -
Accounts Receivable Turnover 15.92 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Cathay Pacific Airways LtdPrice/Volume
Valuation Analysis
3'594'867.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SWIRE PACIFIC LTD n/a EXCH 1'769'024'255 44.97 - 31.12.2011 Holding Company
ANGEL PARADISE LTD n/a EXCH 288'596'335 7.34 - 31.12.2011 Other
CUSTAIN LTD n/a EXCH 280'078'680 7.12 - 31.12.2011 Other
MOTIVE LINK HOLDINGS n/a EXCH 207'376'655 5.27 - 31.12.2011 Other
EASERICH INVESTMENTS n/a EXCH 191'922'273 4.88 - 31.12.2011 Investment Advisor
GRAND LINK INVESTMEN n/a EXCH 189'976'645 4.83 - 31.12.2011 Investment Advisor
WADDELL & REED FINAN Multiple Portfolios MF-AGG 55'841'100 1.42 (12'256'900) 30.09.2011 Investment Advisor
PERFECT MATCH ASSETS n/a EXCH 21'809'399 0.55 - 31.12.2011 Other
ALLIANZ GLOBAL INV O Multiple Portfolios MF-AGG 21'246'900 0.54 (302'900) 29.02.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 14'297'000 0.36 (10'000) 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 12'799'608 0.33 (82'000) 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 10'549'984 0.27 123'609 30.06.2011 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios MF-AGG 9'207'000 0.23 - 31.12.2010 Mutual Fund Manager
NORTHERN TRUST CORPO Multiple Portfolios MF-AGG 5'923'906 0.15 (392'600) 31.12.2011 Investment Advisor
LANDESBANK BERLIN IN Multiple Portfolios MF-AGG 5'491'000 0.14 - 31.01.2012 Mutual Fund Manager
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 5'249'327 0.13 932'000 31.01.2012 Investment Advisor
ALLIANCEBERNSTEIN LU Multiple Portfolios MF-AGG 5'105'879 0.13 52'322 31.01.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 4'775'000 0.12 1'130'000 30.09.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 4'712'000 0.12 - 31.12.2011 Investment Advisor
PRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 4'705'000 0.12 (88'000) 31.01.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura JIM WONG buy 5 M 24 Not Provided 12.03.2012
BOCOM International Holdings GEOFFREY CHENG neutral 3 M 15 12 month 12.03.2012
Barclays Capital PATRICK XU underwt/neutral 1 N 16 Not Provided 08.03.2012
EVA Dimensions TEAM COVERAGE overweight 5 U #N/A N/A Not Provided 05.03.2012
BNP Paribas Equity Research ARNAUD BOUCHET buy 5 M 16 12 month 17.02.2012
Credit Suisse SAM LEE outperform 5 M 18 Not Provided 14.02.2012
JPMorgan CORRINE PNG underweight 1 M 14 9 month 14.02.2012
RBS ANDREW ORCHARD sell 1 M 10 12 month 13.02.2012
Morgan Stanley TEAM COVERAGE Equalwt/In-Line 3 M 15 12 month 13.02.2012
CIMB RAYMOND YAP neutral 3 D 17 12 month 08.02.2012
Maybank Investment Bank Berhad WONG CHEW HANN sell 1 M 12 12 month 20.01.2012
CLSA Asia Pacific Markets PHILIP CHOW underperform 1 M 14 Not Provided 20.01.2012
Citi MICHAEL BEER sell 1 M 11 Not Provided 18.01.2012
UOB Kay Hian K AJITH buy 5 M 16 Not Provided 10.01.2012
DBS Vickers PAUL YONG buy 5 M 17 12 month 20.12.2011
Daiwa Securities Capital Markets Co. KELVIN LAU hold 3 M 14 Not Provided 19.12.2011
Standard Chartered CLAIRE TENG in-line 3 M 16 12 month 29.11.2011
Deutsche Bank JOE LIEW buy 5 U 15 12 month 21.11.2011
HSBC MARK CARMERON ROSS WEBB overweight 5 U 18 Not Provided 14.10.2011
Goldman Sachs HINO LAM Sell/Neutral 1 D 11 12 month 11.09.2011
Bank of China International DU JIANPING buy 5 M 20 Not Provided 11.08.2011
CCB International Securities Ltd TIMOTHY BACCHUS underperform 1 M 16 Not Provided 11.08.2011
Haitong International Securities CHO FOOK TAT buy 5 M 23 12 month 31.05.2011
Mirae Asset Securities RYU JE-HYUN JAY buy 5 M 28 12 month 01.12.2010
Phillip Securities JING ZHANG buy 5 N 14 12 month 24.08.2009
Holdings By:
Cathay Pacific Airways Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Cheung Kong (Holdings) Limited, through its subsidiaries, develops and invests
in real estate. The Company also provides real estate agency and management
services, operates hotels, and invests in securities.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (17.01.2013) 132.70
52-Week Low (04.06.2012) 86.00
Daily Volume
119.3
52-Week High % Change -10.10% Dividend Yield 2.65
52-Week Low % Change 38.72% Beta 1.09
% 52 Week Price Range High/Low 69.59% Equity Float 1'309.63
Shares Out 27.11.2012 2'316.2 Short Int -
276'318.41 1 Yr Total Return 13.19%
Total Debt 45'917.00 YTD Return 0.25%
Preferred Stock 0.0 Adjusted BETA 1.086
Minority Interest 7'860.0 Analyst Recs 20
Cash and Equivalents 20'114.00 Consensus Rating 4.900
Enterprise Value 304'965.41
Average Volume 5 Day 5'444'254
1 HK EQUITY YTD Change - Average Volume 30 Day 4'126'289
1 HK EQUITY YTD % CHANGE - Average Volume 3 Month 3'864'734
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 31'783.0 39'104.0 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 9.53x 7.54x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 14'505.2 17'560.0 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 21.02x 17.37x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 24'120.7 27'139.3 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 11.43x 10.14x - -
EBITDA 11'122.00 Long-Term Rating Date 28.12.2011
EBIT 10'722.00 Long-Term Rating NR
Operating Margin 32.52% Long-Term Outlook -
Pretax Margin 145.86% Short-Term Rating Date -
Return on Assets 7.63% Short-Term Rating -
Return on Common Equity 9.21%
Return on Capital 8.29% EBITDA/Interest Exp. 14.85
Asset Turnover 0.06% (EBITDA-Capex)/Interest Exp. 13.15
Net Debt/EBITDA 2.32
Gross Margin - Total Debt/EBITDA 5.00
EBITDA Margin 39.4%
EBIT Margin 37.7% Total Debt/Equity 15.0%
Net Income Margin 139.7% Total Debt/Capital 12.7%
Asset Turnover 0.06
Current Ratio 2.63 Net Fixed Asset Turnover 0.65
Quick Ratio 0.59 Accounts receivable turnover-days 26.37
Debt to Assets 12.30% Inventory Days -
Tot Debt to Common Equity 14.98% Accounts Payable Turnover Day -
Accounts Receivable Turnover 13.88 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Cheung Kong Holdings LtdPrice/Volume
Valuation Analysis
3'462'783.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
LI KA-SHING UNITY TR n/a EXCH 913'378'704 39.43 - 27.01.2012 Other
JP MORGAN CHASE & CO n/a EXCH 113'205'411 4.89 - 31.01.2012 Investment Advisor
SUNJET LIMITED n/a EXCH 78'668'000 3.4 - 10.12.2010 Other
KEEN SHINE INVESTMEN n/a EXCH 65'491'000 2.83 - 27.01.2012 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 44'850'000 1.94 - 31.10.2011 Investment Advisor
THIRD AVENUE MANAGEM Multiple Portfolios MF-AGG 37'539'000 1.62 (9'451'000) 31.10.2011 Hedge Fund Manager
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 33'285'000 1.44 (596'000) 31.12.2011 Investment Advisor
KING'S ROAD DEVELOPM n/a EXCH 23'059'840 1 - 27.01.2012 Other
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 20'785'500 0.9 (25'000) 08.03.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 17'355'782 0.75 (54'000) 31.12.2011 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 15'521'000 0.67 - 31.10.2011 Mutual Fund Manager
FIDELITY INTERNATION Multiple Portfolios MF-AGG 14'994'979 0.65 2'673'180 30.12.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 14'908'583 0.64 447'175 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 12'383'807 0.53 101'920 30.06.2011 Investment Advisor
ING INVESTMENT MANAG Multiple Portfolios MF-AGG 10'449'320 0.45 524'000 31.12.2011 Investment Advisor
ODYSSEY REINS CO ODYSSEY REINS CO Sch-D 9'379'400 0.4 (972'000) 30.09.2011 Insurance Company
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 9'034'000 0.39 - 30.06.2011 Investment Advisor
SOUTHEASTERN ASSET M Multiple Portfolios MF-AGG 7'637'000 0.33 673'000 30.09.2011 Investment Advisor
ONTARIO TEACHERS PEN n/a Research 6'600'000 0.28 1'100'000 31.12.2010 Pension Fund (ERISA)
SKANDIA GLOBAL FUNDS Multiple Portfolios MF-AGG 6'002'000 0.26 - 31.10.2011 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
CLSA Asia Pacific Markets DANIE SCHUTTE outperform 5 M 125 Not Provided 01.03.2012
Goldman Sachs SIMON CHEUNG Buy/Neutral 5 M 134 12 month 27.02.2012
BOCOM International Holdings ALFRED LAU buy 5 M 132 12 month 27.02.2012
Mirae Asset Securities KEITH YEUNG buy 5 U 126 12 month 22.02.2012
Standard Chartered PAUL YAU outperform 5 M 124 12 month 18.02.2012
JPMorgan LUCIA KWONG overweight 5 M 125 12 month 16.02.2012
Jefferies CHRISTIE JU hold 3 M 93 12 month 14.02.2012
Nomura PAUL LOUIE buy 5 M 137 Not Provided 13.02.2012
Credit Suisse CUSSON LEUNG outperform 5 M 124 Not Provided 09.02.2012
DBS Vickers JEFF YAU buy 5 M 119 12 month 27.01.2012
Macquarie DAVID NG outperform 5 M 123 12 month 05.01.2012
Bank of China International VENANT CHIANG buy 5 N 109 Not Provided 20.12.2011
UOB Kay Hian SYLVIA WONG hold 3 M 87 Not Provided 16.12.2011
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 30.11.2011
Morgan Stanley PRAVEEN K CHOUDHARY Overwt/In-Line 5 M 112 12 month 23.11.2011
Citi KEN YEUNG buy 5 M 126 Not Provided 09.11.2011
Barclays Capital ANDREW LAWRENCE overwt/negative 5 M 106 Not Provided 02.11.2011
Deutsche Bank JASON CHING buy 5 M 140 12 month 14.09.2011
Daiwa Securities Capital Markets Co. JONAS KAN outperform 5 M 140 Not Provided 05.08.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 126 Not Provided 05.08.2011
RBS FAN TSO buy 5 M 151 12 month 24.05.2011
CCB International Securities Ltd EDMOND CHAN neutral 3 M 123 Not Provided 10.12.2010
Holdings By:
Cheung Kong Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Coal Energy Company Ltd mines and markets thermal coal and coking coal.
The Company also manufactures coal mining equipment and offers coal mine design
services.
Latest Fiscal Year: 12/2011
LTM as of: 03/yy
52-Week High (28.02.2012) 10.10
52-Week Low (28.06.2012) 6.08
Daily Volume
7.32
52-Week High % Change -27.52% Dividend Yield 3.66
52-Week Low % Change 20.39% Beta 1.41
% 52 Week Price Range High/Low 28.36% Equity Float 3'805.98
Shares Out 30.09.2012 4'106.7 Short Int -
115'231.84 1 Yr Total Return -23.02%
Total Debt 29'794.88 YTD Return -13.06%
Preferred Stock 0.0 Adjusted BETA 1.407
Minority Interest 14'219.7 Analyst Recs 38
Cash and Equivalents 32'173.57 Consensus Rating 3.658
Enterprise Value 122'379.78
Average Volume 5 Day 31'295'550
1898 HK EQUITY YTD Change - Average Volume 30 Day 24'204'590
1898 HK EQUITY YTD % CHANGE - Average Volume 3 Month 24'981'420
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 03/yy 03/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 89'085.5 97'688.2 22'993.8 21'793.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... #DIV/0! #DIV/0! 1.43x 1.43x 5.93x -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 17'274.3 18'829.8 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 7.08x 6.50x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 2'592.0 8'703.3 8'892.8 1'879.0 2'189.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 8.98x 8.67x 8.77x 8.05x
EBITDA 18'629.14 Long-Term Rating Date -
EBIT 13'960.50 Long-Term Rating -
Operating Margin 15.91% Long-Term Outlook -
Pretax Margin 16.00% Short-Term Rating Date -
Return on Assets 6.29% Short-Term Rating -
Return on Common Equity 11.56%
Return on Capital 9.28% EBITDA/Interest Exp. 16.86
Asset Turnover 0.62% (EBITDA-Capex)/Interest Exp. -1.16
Net Debt/EBITDA 0.57
Gross Margin 20.9% Total Debt/EBITDA 1.89
EBITDA Margin 19.9%
EBIT Margin 14.4% Total Debt/Equity 36.4%
Net Income Margin 11.2% Total Debt/Capital 23.7%
Asset Turnover 0.62
Current Ratio 1.95 Net Fixed Asset Turnover 1.52
Quick Ratio 1.39 Accounts receivable turnover-days 37.07
Debt to Assets 18.63% Inventory Days 35.42
Tot Debt to Common Equity 36.45% Accounts Payable Turnover Day 48.33
Accounts Receivable Turnover 9.87 Cash Conversion Cycle 18.03
Inventory Turnover 10.33
Fiscal Year Ended
China Coal Energy Co LtdPrice/Volume
Valuation Analysis
29'142'230.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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20'000.0
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40'000.0
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80'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GOVT OF SINGAPORE IN n/a EXCH 278'649'390 6.79 - 31.01.2012 Government
DAVIS SELECTED ADVIS n/a Co File 248'098'000 6.04 - 31.12.2010 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 223'731'573 5.45 - 16.02.2012 Investment Advisor
MORGAN STANLEY #N/A N/A EXCH 221'711'137 5.4 - 07.03.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 185'629'000 4.52 (200'000) 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 150'398'090 3.66 297'000 31.12.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 63'269'000 1.54 51'736'000 30.06.2011 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 51'365'770 1.25 (3'427'010) 31.12.2011 Investment Advisor
MORGAN STANLEY n/a Short (47'751'400) -1.16 - 07.03.2012 Investment Advisor
BLACKROCK INC n/a Short (43'295'841) -1.05 (8'743'043) 05.03.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 40'650'801 0.99 (1'954'000) 08.03.2012 Investment Advisor
RCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 36'985'000 0.9 6'292'000 31.01.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 36'712'231 0.89 420'419 30.06.2011 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 14'119'000 0.34 (1'736'000) 08.03.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 13'807'062 0.34 (102'000) 30.09.2011 Investment Advisor
DWS INVESTMENT S A Multiple Portfolios MF-AGG 12'921'000 0.31 2'530'000 31.01.2012 Mutual Fund Manager
VAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 11'433'947 0.28 - 08.03.2012 Investment Advisor
JPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 10'400'000 0.25 - 31.12.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 8'715'000 0.21 (34'047'000) 31.12.2011 Investment Advisor
IVY MANAGEMENT INCOR Multiple Portfolios MF-AGG 8'609'000 0.21 8'609'000 30.09.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Citic Securities Co., Ltd WALLACE CHENG buy 5 M 11 6 month 12.03.2012
SinoPac ROBERT WEI buy 5 M 13 12 month 12.03.2012
Goldman Sachs JULIAN ZHU Buy/Neutral 5 M 12 12 month 09.03.2012
Sanford C. Bernstein & Co MICHAEL W PARKER market perform 3 M 8 12 month 07.03.2012
BOCOM International Holdings HE WEI long-term buy 5 M 12 12 month 07.03.2012
UOB Kay Hian HELEN LAU buy 5 M 13 Not Provided 06.03.2012
JPMorgan DANIEL KANG overweight 5 M 11 12 month 05.03.2012
BNP Paribas Equity Research JAMES CLARKE buy 5 M 12 12 month 05.03.2012
Nomura IVAN LEE buy 5 M 12 Not Provided 05.03.2012
Deutsche Bank JAMES KAN hold 3 D 10 12 month 02.03.2012
Mizuho Securities KELVIN NG neutral 3 M 10 12 month 02.03.2012
Morgan Stanley WEE KIAT TAN Equalwt/In-Line 3 M 11 12 month 01.03.2012
Barclays Capital EPHREM RAVI overwt/positive 5 M 13 Not Provided 27.02.2012
Macquarie MATTY ZHAO outperform 5 M 12 12 month 20.02.2012
CCB International Securities Ltd KAREN LI outperform 5 M 12 Not Provided 19.02.2012
Bank of China International LAWRENCE LAU buy 5 M 11 Not Provided 16.02.2012
ICBC International Securities ANNA YU buy 5 M 12 Not Provided 15.02.2012
HSBC SARAH MAK overweight 5 M 12 Not Provided 06.02.2012
Core Pacific KENNY CHEUNG hold 3 M 11 12 month 01.02.2012
CLSA Asia Pacific Markets ANDREW DRISCOLL buy 5 M 12 Not Provided 01.02.2012
DBS Vickers JUNE NG hold 3 M 10 12 month 26.01.2012
Standard Chartered CHEN YAN in-line 3 M 10 12 month 18.01.2012
GuoSen Securities Co Ltd DAVID LAM buy 5 M 11 12 month 17.01.2012
RBS JEANNETTE SIM buy 5 M 11 12 month 12.01.2012
Capital Securities Corp XU YING buy 5 M 10 Not Provided 11.01.2012
KGI Securities YANG TAO neutral 3 M 11 12 month 21.12.2011
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 30.11.2011
Citi SCARLETT Y CHEN buy 5 U 10 Not Provided 25.11.2011
Yuanta Securities Investment ConsultingJOHNNY WONG buy 5 M 14 Not Provided 22.11.2011
Ji Asia SAMUEL THAWLEY buy 5 M 12 12 month 16.11.2011
Religare Capital Markets CATHERINE WANG buy 5 M 12 12 month 04.11.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 9 Not Provided 24.10.2011
Credit Suisse TRINA CHEN outperform 5 M 13 Not Provided 21.10.2011
Masterlink Securities LI XIN hold 3 M 9 6 month 20.09.2011
Daiwa Securities Capital Markets Co. ALEXANDER LATZER hold 3 U 11 Not Provided 18.08.2011
China International Capital Corp CAI HONGYU accumulate 4 M 13 12 month 17.08.2011
Chang Jiang Securities Co. Limited LIU YUANRUI buy 5 N #N/A N/A Not Provided 17.08.2011
SWS Research Co Ltd HUANG ZHE neutral 3 M 12 Not Provided 16.06.2011
Guotai Junan LEO WU neutral 3 M 12 Not Provided 03.05.2011
Cinda Securities Ltd CASTOR PANG neutral 3 N 10 Not Provided 07.07.2010
Holdings By:
China Coal Energy Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Construction Bank Corporation provides a complete range of banking
services and other financial services to individual and corporate customers. The
bank's services include retail banking, international settlement, project
finance, and credit card services.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (28.01.2013) 6.75
52-Week Low (12.07.2012) 4.71
Daily Volume
6.18
52-Week High % Change -8.44% Dividend Yield -
52-Week Low % Change 31.21% Beta 1.09
% 52 Week Price Range High/Low 71.57% Equity Float 69'156.38
Shares Out 30.09.2012 240'417.3 Short Int -
1'541'116.63 1 Yr Total Return 2.29%
Total Debt 1'211'152.00 YTD Return -0.64%
Preferred Stock 0.0 Adjusted BETA 1.095
Minority Interest 5'520.0 Analyst Recs 39
Cash and Equivalents 2'765'601.00 Consensus Rating 4.590
Enterprise Value -
Average Volume 5 Day #########
939 HK EQUITY YTD Change - Average Volume 30 Day #########
939 HK EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 433'258.0 541'946.0 455'951.0 495'249.5 116'000.5 117'798.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 3.57x 0.40x - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 131'136.0 163'357.0 192'305.5 200'904.0 42'185.5 55'991.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 10.47x 6.03x 6.46x 6.19x 5.98x 5.84x
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A
Operating Margin 54.90% Long-Term Outlook STABLE
Pretax Margin 55.07% Short-Term Rating Date 29.11.2011
Return on Assets 1.50% Short-Term Rating A-1
Return on Common Equity 22.40%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 149.3%
Net Income Margin 42.5% Total Debt/Capital 59.7%
Asset Turnover 0.05
Current Ratio - Net Fixed Asset Turnover 7.30
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 9.86% Inventory Days -
Tot Debt to Common Equity 149.31% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
China Construction Bank CorpPrice/Volume
Valuation Analysis
233'370'871.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CENTRAL HUIJIN INVES n/a EXCH 142'590'494'651 59.31 - 14.11.2011 Government
TEMASEK HOLDINGS PRI n/a EXCH 22'655'348'797 9.42 - 11.11.2011 Government
BANK OF AMERICA CORP n/a EXCH 5'942'736'979 2.47 - 17.11.2011 Investment Advisor
BAOSTEEL GROUP CORP n/a Co File 3'210'000'000 1.34 - 31.12.2010 Government
BEST INVESTMENT CORP n/a EXCH 2'760'000'000 1.15 - 14.11.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'215'858'508 0.92 242'685'000 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'522'660'930 0.63 (790'000) 08.03.2012 Investment Advisor
STATE GRID INTL DEVP n/a Co File 1'315'282'730 0.55 - 31.12.2010 n/a
CHINA YANGTZE POWER n/a Co File 1'070'000'000 0.45 - 31.12.2010 Government
CARMIGNAC GESTION Multiple Portfolios MF-AGG 893'776'990 0.37 - 30.09.2011 Investment Advisor
RECA INVESTMENT LTD n/a Co File 856'000'000 0.36 - 31.12.2010 n/a
YINGDA INTL HOLDINGS n/a Co File 856'000'000 0.36 - 31.12.2010 n/a
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 829'528'845 0.35 - 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 716'512'027 0.3 (66'010'584) 30.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 536'000'598 0.22 4'939'958 30.06.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 527'098'596 0.22 (19'236'314) 31.12.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 403'327'600 0.17 (4'204'000) 08.03.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 394'730'339 0.16 33'208'245 31.01.2012 Investment Advisor
SHANDONG LUNENG GROU n/a Co File 374'500'000 0.16 - 31.12.2010 Corporation
STATE GRID INTL TECH n/a Co File 350'000'000 0.15 - 31.12.2010 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co MIKE WERNER outperform 5 M 9 12 month 12.03.2012
Nomura LUCY FENG buy 5 M 8 Not Provided 12.03.2012
UOB Kay Hian EDMOND LAW buy 5 M 8 Not Provided 12.03.2012
Keefe, Bruyette & Woods WARREN BLIGHT outperform 5 M 11 12 month 09.03.2012
Goldman Sachs NING MA neutral/neutral 3 D 8 12 month 07.03.2012
BOCOM International Holdings LI SHANSHAN buy 5 M 7 12 month 05.03.2012
Barclays Capital MAY YAN overwt/neutral 5 M 8 Not Provided 28.02.2012
Citic Securities Co., Ltd ZHU YAN buy 5 M #N/A N/A Not Provided 27.02.2012
Bank of China International SUN PENG buy 5 U 7 Not Provided 24.02.2012
Credit Suisse SANJAY JAIN outperform 5 M 8 Not Provided 23.02.2012
Mizuho Securities JIM ANTOS neutral 3 M 7 12 month 23.02.2012
DBS Vickers ALEXANDER LEE buy 5 M 8 12 month 22.02.2012
CIMB JAMES LIU outperform 5 M 8 12 month 22.02.2012
Citi SIMON HO buy 5 M 8 Not Provided 20.02.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 7 Not Provided 20.02.2012
HSBC TODD DUNIVANT overweight 5 M 8 Not Provided 13.02.2012
Kim Eng Securities IVAN LI buy 5 M 8 12 month 03.02.2012
Standard Chartered LAWRENCE CHEN outperform 5 M 7 12 month 01.02.2012
Deutsche Bank TRACY YU buy 5 M 7 12 month 16.01.2012
Macquarie VICTOR WANG outperform 5 M 8 12 month 13.01.2012
JPMorgan SAMUEL SHUN CHEN overweight 5 M 10 9 month 12.01.2012
CLSA Asia Pacific Markets KEVIN CHAN sell 1 M 5 Not Provided 05.01.2012
Morgan Stanley MINYAN LIU Overwt/In-Line 5 M 8 12 month 18.12.2011
Yuanta Securities Investment ConsultingTAN MING buy 5 U 7 Not Provided 13.12.2011
EVA Dimensions TEAM COVERAGE overweight 5 M #N/A N/A Not Provided 30.11.2011
Phillip Securities CHEN XINGYU buy 5 M 7 12 month 22.11.2011
Core Pacific LI TIMOTHY buy 5 M 7 12 month 10.11.2011
Guotai Junan WILSON LI accumulate 4 M 8 Not Provided 08.11.2011
Religare Capital Markets SOPHIE JIANG hold 3 M 5 12 month 02.11.2011
China International Capital Corp MAO JUNHUA buy 5 M 10 12 month 31.10.2011
Hua Tai Securities Co., Ltd LIU XIAOCHANG buy 5 M #N/A N/A Not Provided 31.10.2011
ABC International EDMOND LAW buy 5 M 8 Not Provided 31.10.2011
RBS IRENE HUANG buy 5 M 8 12 month 24.10.2011
Mirae Asset Securities PATRICK PONG buy 5 M 7 12 month 23.08.2011
Daiwa Securities Capital Markets Co. GRACE WU outperform 5 M 6 Not Provided 22.08.2011
SWS Research Co Ltd ROBERT HU outperform 5 M 7 Not Provided 22.08.2011
Masterlink Securities RAINY YUAN trading buy 5 N 9 6 month 24.11.2010
ICBC International Securities IVAN LIN buy 5 M 9 Not Provided 01.11.2010
KGI Securities MICHELLE CHEN outperform 5 N 8 12 month 16.04.2010
Tebon Securities Co Ltd XU MINGQIANG outperform 5 N #N/A N/A Not Provided 02.01.2009
Holdings By:
China Construction Bank Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Life Insurance Co., Limited offers a wide range of life, accident, and
health insurance products and services.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (15.01.2013) 27.35
52-Week Low (04.06.2012) 17.00
Daily Volume
22.75
52-Week High % Change -16.82% Dividend Yield 1.26
52-Week Low % Change 33.82% Beta 1.24
% 52 Week Price Range High/Low 54.11% Equity Float 7'441.18
Shares Out 30.09.2012 7'441.2 Short Int -
647'920.56 1 Yr Total Return -1.67%
Total Debt 42'990.00 YTD Return -10.08%
Preferred Stock 0.0 Adjusted BETA 1.237
Minority Interest 1'858.0 Analyst Recs 32
Cash and Equivalents 55'985.00 Consensus Rating 3.313
Enterprise Value -
Average Volume 5 Day 34'735'170
2628 HK EQUITY YTD Change - Average Volume 30 Day 33'104'750
2628 HK EQUITY YTD % CHANGE - Average Volume 3 Month 33'638'450
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 365'499.8 408'094.4 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 1.40x 1.24x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - - - - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 14'661.0 29'398.7 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 35.46x 17.47x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating AA-
Operating Margin 5.18% Long-Term Outlook NEG
Pretax Margin 5.54% Short-Term Rating Date -
Return on Assets 0.90% Short-Term Rating -
Return on Common Equity 7.31%
Return on Capital 5.91% EBITDA/Interest Exp. -
Asset Turnover 0.21% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 22.4%
Net Income Margin 4.9% Total Debt/Capital 18.2%
Asset Turnover 0.21
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 2.71% Inventory Days -
Tot Debt to Common Equity 22.45% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Life Insurance Co LtdPrice/Volume
Valuation Analysis
30'833'272.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN CHASE & CO n/a EXCH 367'357'553 4.94 - 23.02.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 272'642'833 3.66 562'000 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 195'539'000 2.63 (103'000) 08.03.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 144'535'500 1.94 - 30.09.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 120'012'000 1.61 (30'615'000) 31.12.2011 Investment Advisor
JP MORGAN CHASE & CO n/a Short (115'700'761) -1.55 - 23.02.2011 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 94'100'000 1.26 (1'682'000) 31.12.2011 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 83'335'910 1.12 - 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 66'324'535 0.89 578'662 30.06.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 50'880'058 0.68 (427'000) 08.03.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 47'912'000 0.64 (7'305'000) 31.12.2011 Investment Advisor
BLACKROCK INC n/a Short (39'424'538) -0.53 (2'568'331) 03.02.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 38'401'053 0.52 (67'019'775) 31.10.2011 Investment Advisor
COMGEST GROWTH PLC Multiple Portfolios MF-AGG 34'090'000 0.46 - 30.06.2011 Investment Advisor
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 31'634'000 0.43 1'200'000 31.10.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 21'078'342 0.28 (9'612'000) 30.09.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 18'713'000 0.25 (8'496'000) 30.06.2011 Investment Advisor
STATE STREET CORP Multiple Portfolios MF-AGG 17'756'292 0.24 - 08.03.2012 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 15'476'000 0.21 (6'751'000) 31.05.2011 Mutual Fund Manager
RCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 13'944'000 0.19 (977'000) 31.10.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura DAVID CHUNG buy 5 M 34 Not Provided 12.03.2012
JPMorgan CHAN BAO LING underweight 1 M 20 12 month 09.03.2012
Core Pacific OLIVE XIA hold 3 M 24 Not Provided 08.03.2012
Kim Eng Securities IVAN LI hold 3 M 22 12 month 07.03.2012
China International Capital Corp MAO JUNHUA buy 5 M 29 12 month 07.03.2012
BNP Paribas Equity Research ELLIE LI hold 3 M 23 12 month 07.03.2012
CLSA Asia Pacific Markets PATRICIA CHENG underperform 1 M 21 Not Provided 07.03.2012
BOCOM International Holdings LI WENBING neutral 3 M 25 12 month 07.03.2012
Morgan Stanley BEN LIN Equalwt/In-Line 3 M 22 12 month 06.03.2012
Credit Suisse ARJAN VAN VEEN neutral 3 M 25 Not Provided 06.03.2012
Citi DARWIN LAM neutral 3 M 23 Not Provided 06.03.2012
Yuanta Securities Investment ConsultingBARON NIE hold 3 M 22 Not Provided 06.03.2012
Macquarie SCOTT G RUSSELL neutral 3 M 23 12 month 06.03.2012
DBS Vickers PING CHENG fully valued 2 D 24 12 month 02.03.2012
Keefe, Bruyette & Woods STANLEY TSAI underperform 1 M 22 12 month 29.02.2012
CCB International Securities Ltd KENNETH YUE neutral 3 M 21 Not Provided 17.02.2012
ICBC International Securities PIUS CHENG hold 3 M 22 Not Provided 17.02.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 24 Not Provided 17.02.2012
Deutsche Bank ESTHER CHWEI hold 3 M 24 12 month 10.02.2012
SWS Research Co Ltd ROBERT HU underperform 1 D 19 Not Provided 08.02.2012
Standard Chartered PETER O'BRIEN in-line 3 M 22 12 month 25.01.2012
Goldman Sachs NING MA neutral/neutral 3 D 23 12 month 17.01.2012
HSBC JAMES GARNER neutral 3 D 23 Not Provided 16.01.2012
Barclays Capital MARK KELLOCK underwt/positive 1 M 24 Not Provided 09.01.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 02.01.2012
Capital Securities Corp TEAM COVERAGE hold 3 M #N/A N/A Not Provided 16.12.2011
Daiwa Securities Capital Markets Co. JENNIFER LAW outperform 5 M 33 Not Provided 01.11.2011
Bank of China International SUN PENG hold 3 M 22 Not Provided 28.10.2011
Mirae Asset Securities IVAN CHEUNG hold 3 M 20 12 month 18.10.2011
RBS YANAN WANG buy 5 M 36 12 month 01.08.2011
Phillip Securities CHEN XINGYU hold 3 M 35 12 month 12.05.2011
Guotai Junan FELIX LUO buy 5 M 38 Not Provided 02.04.2011
Citic Securities Co., Ltd HUANG HUAMIN overweight 5 M 45 6 month 25.06.2010
Sun Hung Kai Securities KENIX LAI buy 5 M 35 Not Provided 10.07.2009
Holdings By:
China Life Insurance Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Merchants Holdings International Company Limited, through its
subsidiaries and associated companies, operates container and cargo terminals,
port transportation, and airport cargo handling. The Company also manufactures
containers, paint, and trailers as well as operates toll road, shipping,
property, and dealing securities businesses.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (22.01.2013) 29.00
52-Week Low (05.06.2012) 21.00
Daily Volume
27
52-Week High % Change -6.90% Dividend Yield 3.33
52-Week Low % Change 28.57% Beta 1.09
% 52 Week Price Range High/Low 71.88% Equity Float 1'141.37
Shares Out 31.01.2013 2'491.6 Short Int -
67'274.10 1 Yr Total Return 4.55%
Total Debt 24'698.00 YTD Return 8.65%
Preferred Stock 0.0 Adjusted BETA 1.093
Minority Interest 11'355.0 Analyst Recs 22
Cash and Equivalents 7'774.00 Consensus Rating 3.182
Enterprise Value 93'813.10
Average Volume 5 Day 3'017'659
144 HK EQUITY YTD Change - Average Volume 30 Day 4'187'924
144 HK EQUITY YTD % CHANGE - Average Volume 3 Month 3'521'568
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 9'495.4 9'696.2 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 10.24x 10.18x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 5'275.4 5'539.2 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 17.78x 16.94x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 3'613.4 4'177.6 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 18.22x 15.85x - -
EBITDA 4'277.00 Long-Term Rating Date 17.02.2005
EBIT 2'865.00 Long-Term Rating BBB
Operating Margin 30.25% Long-Term Outlook STABLE
Pretax Margin 81.16% Short-Term Rating Date -
Return on Assets 3.85% Short-Term Rating -
Return on Common Equity 8.02%
Return on Capital 7.25% EBITDA/Interest Exp. 3.73
Asset Turnover 0.11% (EBITDA-Capex)/Interest Exp. 2.02
Net Debt/EBITDA 3.33
Gross Margin 42.8% Total Debt/EBITDA 6.29
EBITDA Margin 43.5%
EBIT Margin 29.4% Total Debt/Equity 56.9%
Net Income Margin 58.8% Total Debt/Capital 31.1%
Asset Turnover 0.11
Current Ratio 1.30 Net Fixed Asset Turnover 0.32
Quick Ratio 0.77 Accounts receivable turnover-days 46.45
Debt to Assets 28.36% Inventory Days 266.25
Tot Debt to Common Equity 56.90% Accounts Payable Turnover Day 16.30
Accounts Receivable Turnover 7.88 Cash Conversion Cycle 260.77
Inventory Turnover 1.37
Fiscal Year Ended
China Merchants Holdings International Co LtdPrice/Volume
Valuation Analysis
2'319'805.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA MERCHANTS UNIO n/a Co File 1'332'525'504 53.85 - 31.12.2010 Government
DAVIS SELECTED ADVIS n/a Co File 145'910'554 5.9 - 31.12.2010 Investment Advisor
FIRST STATE INVESTME n/a EXCH 59'171'667 2.39 - 16.01.2012 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 48'515'365 1.96 - 31.10.2011 Mutual Fund Manager
FIRST STATE INVESTME Multiple Portfolios MF-AGG 48'162'047 1.95 - 31.10.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 41'060'210 1.66 134'341 31.12.2011 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 28'305'800 1.14 18'873'000 31.12.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 21'560'000 0.87 2'086'000 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 19'646'000 0.79 12'000 08.03.2012 Investment Advisor
ARTIO GLOBAL MANAGEM Multiple Portfolios MF-AGG 17'410'943 0.7 1'320'000 31.10.2011 Investment Advisor
BEST WINNER INVESTME n/a Co File 17'121'762 0.69 - 31.12.2010 n/a
PRUDENTIAL ASSET MGM Multiple Portfolios MF-AGG 16'695'100 0.67 2'205'967 06.10.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 14'689'347 0.59 181'798 31.12.2011 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 12'522'581 0.51 (812'000) 30.12.2011 Investment Advisor
HARDING LOEVNER LP Multiple Portfolios MF-AGG 10'872'032 0.44 121'791 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 10'362'181 0.42 4'308'117 30.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 9'890'541 0.4 190'839 30.06.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 8'087'010 0.33 (12'000) 08.03.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 7'788'000 0.31 224'000 31.12.2011 Investment Advisor
FIRST STATE INVEST I n/a EXCH 7'357'729 0.3 - 16.01.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura JIM WONG buy 5 M 32 Not Provided 09.03.2012
RBS OSBERT TANG hold 3 M 26 12 month 28.02.2012
Goldman Sachs SIMON CHEUNG neutral/neutral 3 M 30 12 month 27.02.2012
Jefferies CHRISTIE JU buy 5 M 38 12 month 24.02.2012
Morgan Stanley EDWARD XU Overwt/In-Line 5 M 33 12 month 22.02.2012
Deutsche Bank MICHAEL LEE buy 5 M 32 12 month 13.02.2012
China International Capital Corp YANG XIN reduce 2 D 19 12 month 06.02.2012
JPMorgan KAREN LI underweight 1 M 20 Not Provided 27.01.2012
CLSA Asia Pacific Markets PHILIP CHOW buy 5 M 31 Not Provided 20.01.2012
Guotai Junan JASON SONG neutral 3 M 23 Not Provided 19.01.2012
HSBC PARASH JAIN neutral 3 D 27 Not Provided 13.01.2012
Standard Chartered CLAIRE TENG in-line 3 M 24 12 month 12.12.2011
DBS Vickers KEN HE buy 5 M 28 12 month 08.12.2011
UOB Kay Hian LAWRENCE LI buy 5 M 30 Not Provided 05.12.2011
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 30.11.2011
Citi VIVIAN WEI TAO sell 1 N 18 Not Provided 29.11.2011
Barclays Capital JON WINDHAM overwt/neutral 5 U 26 Not Provided 11.10.2011
Credit Suisse INGRID WEI outperform 5 M 28 Not Provided 23.09.2011
Citic Securities Co., Ltd SIMON YEUNG hold 3 D 26 6 month 31.08.2011
BNP Paribas Equity Research SARAH LIU hold 3 M 26 12 month 21.06.2011
SWS Research Co Ltd LEO FAN outperform 5 M 33 Not Provided 25.06.2010
China Merchants Securities YU HUANGYAN buy 5 M 17 Not Provided 23.02.2009
Holdings By:
China Merchants Holdings International Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Mobile Limited, through its subsidiaries, provides cellular
telecommunications and related services in the People's Republic of China and
Hong Kong SAR.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (14.08.2012) 92.60
52-Week Low (04.06.2012) 76.50
Daily Volume
84.95
52-Week High % Change -8.26% Dividend Yield 4.03
52-Week Low % Change 11.05% Beta 0.62
% 52 Week Price Range High/Low 52.80% Equity Float 5'213.56
Shares Out 31.01.2013 20'100.5 Short Int -
1'707'535.38 1 Yr Total Return 8.98%
Total Debt 30'301.00 YTD Return -5.87%
Preferred Stock 0.0 Adjusted BETA 0.620
Minority Interest 1'355.0 Analyst Recs 37
Cash and Equivalents 332'946.00 Consensus Rating 3.514
Enterprise Value 1'008'336.98
Average Volume 5 Day 15'392'830
941 HK EQUITY YTD Change - Average Volume 30 Day 19'557'110
941 HK EQUITY YTD % CHANGE - Average Volume 3 Month 17'771'670
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 477'769.0 516'434.0 561'544.8 596'848.2 149'587.6 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 1.81x 1.62x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 252'371.3 256'872.7 63'369.0 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 4.00x 3.93x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 118'470.0 124'373.0 126'054.0 126'599.8 31'984.6 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 10.96x 10.95x - -
EBITDA 257'202.00 Long-Term Rating Date 16.12.2010
EBIT 159'710.00 Long-Term Rating AA-
Operating Margin 30.25% Long-Term Outlook STABLE
Pretax Margin 31.55% Short-Term Rating Date -
Return on Assets 13.03% Short-Term Rating -
Return on Common Equity 19.60%
Return on Capital 18.76% EBITDA/Interest Exp. 455.22
Asset Turnover 0.56% (EBITDA-Capex)/Interest Exp. 235.02
Net Debt/EBITDA -1.42
Gross Margin - Total Debt/EBITDA 0.12
EBITDA Margin 47.0%
EBIT Margin 28.9% Total Debt/Equity 4.7%
Net Income Margin 23.8% Total Debt/Capital 4.5%
Asset Turnover 0.56
Current Ratio 1.40 Net Fixed Asset Turnover 1.15
Quick Ratio 1.25 Accounts receivable turnover-days 6.98
Debt to Assets 3.18% Inventory Days -
Tot Debt to Common Equity 4.67% Accounts Payable Turnover Day -
Accounts Receivable Turnover 52.44 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Mobile LtdPrice/Volume
Valuation Analysis
13'757'144.00
Current Price (2/dd/yy) Market Data
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100'000.0
200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA MOBILE HK BVI n/a 20F 14'889'080'691 74.16 (1'036'151) 31.03.2011 Corporation
VANGUARD GROUP INC Multiple Portfolios MF-AGG 238'108'692 1.19 2'923'634 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 143'181'500 0.71 (56'500) 08.03.2012 Investment Advisor
ABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 138'953'656 0.69 2'909'000 31.01.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 59'172'620 0.29 (3'991'000) 31.12.2011 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 53'719'500 0.27 (960'500) 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 53'684'093 0.27 502'290 30.06.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 44'569'290 0.22 10'223'214 30.12.2011 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 40'322'968 0.2 817'000 31.01.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 39'334'210 0.2 (1'452'500) 08.03.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 32'369'249 0.16 (7'335'000) 08.03.2012 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 21'386'000 0.11 (1'693'000) 30.09.2011 Mutual Fund Manager
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 20'210'500 0.1 (258'500) 31.12.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 19'496'296 0.1 (5'938'000) 30.09.2011 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 18'647'500 0.09 5'706'500 09.03.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 17'558'707 0.09 - 31.12.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 15'890'001 0.08 (3'613'000) 31.01.2012 Investment Advisor
COMGEST GROWTH PLC Multiple Portfolios MF-AGG 15'507'000 0.08 - 30.06.2011 Investment Advisor
STATE STREET CORP Multiple Portfolios MF-AGG 14'693'798 0.07 - 08.03.2012 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 14'578'000 0.07 - 31.10.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
HSBC TUCKER GRINNAN overweight 5 U 100 Not Provided 12.03.2012
Mirae Asset Securities ERIC WEN buy 5 M 105 12 month 12.03.2012
Credit Suisse COLIN MCCALLUM outperform 5 U 101 Not Provided 09.03.2012
Jefferies CYNTHIA JINHONG MENG hold 3 M 83 12 month 09.03.2012
Goldman Sachs DONALD LU Buy/Neutral 5 U 95 12 month 08.03.2012
Nomura DANNY CHU buy 5 M 91 Not Provided 08.03.2012
Barclays Capital ANAND RAMACHANDRAN equalwt/neutral 3 M 85 Not Provided 07.03.2012
Yuanta Securities Investment ConsultingKELVIN HO hold 3 M 83 Not Provided 27.02.2012
Bank of China International MICHAEL MENG hold 3 M 85 Not Provided 21.02.2012
BOCOM International Holdings LI ZHIWU long-term buy 5 M 92 12 month 21.02.2012
RBS TOMMY MOK buy 5 M 94 12 month 16.02.2012
Citi BIN LIU buy 5 M 95 Not Provided 16.02.2012
BNP Paribas Equity Research ALEN LIN buy 5 M 93 12 month 15.02.2012
SWS Research Co Ltd JIM TANG neutral 3 M 75 Not Provided 14.02.2012
China International Capital Corp CHEN HAOFEI hold 3 M 75 12 month 08.02.2012
Mizuho Securities MARVIN LO neutral 3 N 74 12 month 01.02.2012
DBS Vickers TAM TSZ-WANG hold 3 M 77 12 month 20.01.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 28.12.2011
Standard Chartered STEVEN LIU outperform 5 M 88 12 month 09.12.2011
Pacific Crest Securities STEVE CLEMENT outperform 5 M 86 12 month 06.12.2011
Ji Asia NEIL JUGGINS neutral 3 M 78 12 month 25.10.2011
Kim Eng Securities ANDY POON sell 1 M 64 12 month 21.10.2011
UOB Kay Hian VICTOR YIP buy 5 M 95 Not Provided 21.10.2011
Morgan Stanley NAVIN KILLA Equalwt/In-Line 3 M 85 12 month 20.10.2011
JPMorgan LUCY LIU neutral 3 M 85 Not Provided 20.10.2011
Daiwa Securities Capital Markets Co. ALAN KAM hold 3 M 78 Not Provided 20.10.2011
CLSA Asia Pacific Markets ELINOR LEUNG buy 5 M 92 Not Provided 20.10.2011
Deutsche Bank ALAN HELLAWELL hold 3 M 83 12 month 17.10.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 85 Not Provided 22.09.2011
Macquarie LISA SOH outperform 5 M 79 12 month 13.09.2011
Capital Securities Corp TEAM COVERAGE hold 3 M 70 Not Provided 19.08.2011
Citic Securities Co., Ltd PATRICK CHOI buy 5 M 82 6 month 19.08.2011
Haitong International Securities ALEX LEE buy 5 M 90 12 month 27.06.2011
ICBC International Securities KARY SEI buy 5 M 89 Not Provided 17.03.2011
Holdings By:
China Mobile Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Overseas Land & Investment Limited, through its subsidiaries, develops and
invests in properties, constructs buildings, invests in treasury securities, and
infrastructure projects. The Company also provides civil engineering,
foundation engineering, and real estate agency and management services.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (07.01.2013) 25.60
52-Week Low (30.03.2012) 14.12
Daily Volume
22.8
52-Week High % Change -10.94% Dividend Yield 1.54
52-Week Low % Change 61.43% Beta 1.44
% 52 Week Price Range High/Low 72.12% Equity Float 3'801.47
Shares Out 30.06.2012 8'172.5 Short Int -
186'333.42 1 Yr Total Return 43.72%
Total Debt 43'678.95 YTD Return -1.30%
Preferred Stock 0.0 Adjusted BETA 1.445
Minority Interest 273.0 Analyst Recs 38
Cash and Equivalents 17'841.48 Consensus Rating 4.158
Enterprise Value 212'938.09
Average Volume 5 Day 29'553'490
688 HK EQUITY YTD Change - Average Volume 30 Day 24'297'130
688 HK EQUITY YTD % CHANGE - Average Volume 3 Month 22'322'260
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 66'420.4 80'292.6 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 3.17x 2.64x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 24'416.7 28'422.9 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 8.72x 7.49x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 15'611.8 18'524.1 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 12.01x 10.09x - -
EBITDA 19'021.74 Long-Term Rating Date 25.03.2010
EBIT 18'978.15 Long-Term Rating BBB
Operating Margin 39.06% Long-Term Outlook STABLE
Pretax Margin 48.92% Short-Term Rating Date -
Return on Assets 9.33% Short-Term Rating -
Return on Common Equity 23.79%
Return on Capital 14.40% EBITDA/Interest Exp. 13.21
Asset Turnover 0.29% (EBITDA-Capex)/Interest Exp. 12.10
Net Debt/EBITDA 1.31
Gross Margin 44.9% Total Debt/EBITDA 2.63
EBITDA Margin 38.7%
EBIT Margin 38.6% Total Debt/Equity 62.1%
Net Income Margin 30.9% Total Debt/Capital 38.2%
Asset Turnover 0.29
Current Ratio 1.88 Net Fixed Asset Turnover 2.84
Quick Ratio 0.28 Accounts receivable turnover-days 16.63
Debt to Assets 24.82% Inventory Days 1228.62
Tot Debt to Common Equity 62.12% Accounts Payable Turnover Day 78.70
Accounts Receivable Turnover 22.01 Cash Conversion Cycle 1130.07
Inventory Turnover 0.30
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Overseas Land & Investment LtdPrice/Volume
Valuation Analysis
26'169'669.00
Current Price (2/dd/yy) Market Data
!.135
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0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
45'000.0
50'000.0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010! !!
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA OVERSEAS HOLDI n/a EXCH 3'837'380'380 46.95 - 31.12.2011 Government
SILVER LOT DEVELOPME n/a EXCH 505'276'928 6.18 - 31.12.2011 n/a
JP MORGAN CHASE & CO n/a EXCH 379'327'162 4.64 - 20.09.2011 Investment Advisor
DEUTSCHE BANK AG n/a EXCH 355'640'452 4.35 - 03.11.2011 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 233'369'969 2.86 - 30.09.2011 Investment Advisor
DEUTSCHE BANK AG n/a Short (169'866'271) -2.08 - 03.11.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 160'615'313 1.97 488'550 31.12.2011 Investment Advisor
JANUS CAPITAL MANAGE Multiple Portfolios MF-AGG 137'956'000 1.69 (128'525'000) 30.09.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 102'335'861 1.25 67'801'042 30.12.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 68'669'080 0.84 51'006'000 31.12.2011 Investment Advisor
EUROPEAN INVESTORS I n/a Research 67'569'354 0.83 2'231'960 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 58'635'040 0.72 34'000 08.03.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 43'445'652 0.53 2'328'000 30.09.2011 Investment Advisor
COHEN & STEERS CAPIT Multiple Portfolios MF-AGG 37'990'180 0.46 4'723'760 08.03.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 36'529'626 0.45 430'058 30.06.2011 Investment Advisor
LAZARD GLOBAL ACTIVE Multiple Portfolios MF-AGG 28'280'260 0.35 194'900 31.01.2012 Investment Advisor
MORGAN STANLEY Multiple Portfolios MF-AGG 22'167'560 0.27 (1'542'000) 31.12.2011 Investment Advisor
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 21'460'000 0.26 - 31.12.2011 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 21'170'000 0.26 6'180'000 30.09.2011 Mutual Fund Manager
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 21'045'760 0.26 (32'000) 08.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Yuanta Securities Investment ConsultingZHAO ZHENYI buy 5 M 19 Not Provided 12.03.2012
Goldman Sachs WANG YI neutral/attractive 3 M 19 12 month 07.03.2012
DBS Vickers CAROL WU buy 5 M 20 12 month 07.03.2012
JPMorgan LUCIA KWONG overweight 5 M 18 12 month 05.03.2012
BNP Paribas Equity Research FRANK CHEN buy 5 M 18 12 month 01.03.2012
Nomura ALVIN WONG buy 5 M 17 Not Provided 27.02.2012
Standard Chartered RAYMOND CHENG in-line 3 D 17 12 month 23.02.2012
Mizuho Securities ALAN JIN buy 5 M 20 12 month 22.02.2012
Mirae Asset Securities STEPHANIE LAU buy 5 M 19 12 month 21.02.2012
UOB Kay Hian SYLVIA WONG buy 5 M 19 Not Provided 20.02.2012
Guotai Junan DONALD YU buy 5 M 19 Not Provided 16.02.2012
Jefferies CHRISTIE JU buy 5 M 19 12 month 14.02.2012
Credit Suisse JINSONG DU underperform 1 M 11 Not Provided 02.02.2012
Citi OSCAR CHOI buy 5 M 18 Not Provided 31.01.2012
EVA Dimensions TEAM COVERAGE hold 3 M #N/A N/A Not Provided 31.01.2012
Ji Asia WU GONGLIANG sell 1 N 12 12 month 13.01.2012
GuoSen Securities Co Ltd HUI CAO buy 5 M 17 12 month 11.01.2012
Macquarie DAVID NG outperform 5 M 15 12 month 05.01.2012
CLSA Asia Pacific Markets NICOLE WONG buy 5 M 17 Not Provided 04.01.2012
HSBC MICHELLE KWOK overweight 5 M 21 Not Provided 03.01.2012
KGI Securities ALICE JI outperform 5 M 17 12 month 28.12.2011
CCB International Securities Ltd ROSE ZHANG neutral 3 M 15 Not Provided 22.12.2011
SWS Research Co Ltd KRIS LI outperform 5 M 15 Not Provided 09.12.2011
China International Capital Corp PETER HONGWEI BAI buy 5 M 21 12 month 02.12.2011
Morgan Stanley BRIAN LEUNG Equalwt/Attractive 3 M 16 12 month 23.11.2011
CIMB JOHNSON HU outperform 5 M 19 12 month 10.11.2011
Bank of China International CHRISTINA NGAI hold 3 M 11 Not Provided 24.10.2011
Daiwa Securities Capital Markets Co. DANNY BAO buy 5 M 16 Not Provided 20.10.2011
Kim Eng Securities IVAN CHEUNG hold 3 D 18 12 month 10.08.2011
Deutsche Bank TONY TSANG buy 5 M 23 12 month 09.08.2011
RBS FAN TSO buy 5 M 19 12 month 08.07.2011
Masterlink Securities TEAM COVERAGE hold 3 N 18 6 month 23.05.2011
Citic Securities Co., Ltd GARRICK CHENG buy 5 U 17 6 month 18.03.2011
Everbright Securities Co., Ltd TIMOTHY YEUNG hold 3 M 14 6 month 08.02.2011
Capital Securities Corp LANTIS LI buy 5 M 16 Not Provided 20.08.2010
Holdings By:
China Overseas Land & Investment Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Petroleum and Chemical Corporation (Sinopec) refines, produces and trades
petroleum and petrochemical products such as gasoline, diesel, jet fuel,
kerosene, ethylene, synthetic fibers, synthetic rubber, synthetic resins, and
chemical fertilizers. Also, The company explores for and produces crude oil and
natural gas in China.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (30.01.2013) 9.57
52-Week Low (11.07.2012) 6.38
Daily Volume
8.73
52-Week High % Change -8.78% Dividend Yield 4.28
52-Week Low % Change 36.83% Beta 0.82
% 52 Week Price Range High/Low 72.41% Equity Float 18'404.72
Shares Out 14.02.2013 19'625.7 Short Int -
789'984.94 1 Yr Total Return 7.05%
Total Debt 240'555.00 YTD Return -0.57%
Preferred Stock 0.0 Adjusted BETA 0.824
Minority Interest 35'016.0 Analyst Recs 32
Cash and Equivalents 25'197.00 Consensus Rating 3.844
Enterprise Value 940'952.10
Average Volume 5 Day #########
386 HK EQUITY YTD Change - Average Volume 30 Day #########
386 HK EQUITY YTD % CHANGE - Average Volume 3 Month 89'212'220
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 03/yy 06/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... ######### ######### ######### ######### 728'398.5 688'272.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 3.07x 4.14x 0.37x 0.36x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 108'265.0 156'276.0 166'773.5 192'193.6 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 5.64x 4.90x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 64'068.0 63'750.0 61'243.7 74'980.9 17'385.0 14'623.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 8.84x 0.00x 10.05x 8.31x 9.67x 10.01x
EBITDA 170'962.00 Long-Term Rating Date 16.12.2010
EBIT 107'146.00 Long-Term Rating A+
Operating Margin 4.35% Long-Term Outlook STABLE
Pretax Margin 4.24% Short-Term Rating Date -
Return on Assets 5.00% Short-Term Rating -
Return on Common Equity 12.12%
Return on Capital 8.66% EBITDA/Interest Exp. 18.19
Asset Turnover 2.27% (EBITDA-Capex)/Interest Exp. 4.17
Net Debt/EBITDA 1.87
Gross Margin - Total Debt/EBITDA 1.96
EBITDA Margin 6.1%
EBIT Margin 3.5% Total Debt/Equity 50.9%
Net Income Margin 3.0% Total Debt/Capital 32.2%
Asset Turnover 2.27
Current Ratio 0.77 Net Fixed Asset Turnover 3.74
Quick Ratio 0.25 Accounts receivable turnover-days 13.52
Debt to Assets 21.02% Inventory Days -
Tot Debt to Common Equity 50.93% Accounts Payable Turnover Day -
Accounts Receivable Turnover 27.06 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Petroleum & Chemical CorpPrice/Volume
Valuation Analysis
126'478'526.00
Current Price (2/dd/yy) Market Data
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400'000.0
600'000.0
800'000.0
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1'200'000.0
1'400'000.0
1'600'000.0
1'800'000.0
2'000'000.0
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN CHASE & CO n/a EXCH 1'436'156'868 8.56 - 15.02.2012 Investment Advisor
FRANKLIN RESOURCES I n/a EXCH 1'006'669'203 6 - 26.01.2012 Investment Advisor
GOVT OF SINGAPORE IN n/a EXCH 796'605'154 4.75 - 22.11.2011 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 652'946'437 3.89 (5'418'000) 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 457'636'000 2.73 (140'000) 08.03.2012 Investment Advisor
CH PETROLEUM SHENGJU n/a EXCH 425'500'000 2.54 - 09.01.2012 n/a
FIDELITY INTERNATION Multiple Portfolios MF-AGG 243'428'285 1.45 103'916'150 30.12.2011 Investment Advisor
BLACKROCK INC n/a Short (209'290'946) -1.25 - 29.02.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 150'840'000 0.9 116'780'000 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 149'492'103 0.89 1'223'565 30.06.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 140'787'528 0.84 (1'300'000) 08.03.2012 Investment Advisor
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 138'099'000 0.82 1'470'000 31.12.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 112'401'936 0.67 11'132'067 31.01.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 84'830'342 0.51 (52'106'000) 30.09.2011 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 83'050'000 0.49 5'532'000 31.12.2011 Investment Advisor
CARNEGIE ASSET MANAG Multiple Portfolios MF-AGG 80'601'071 0.48 (406'000) 31.01.2012 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 78'718'000 0.47 (9'982'000) 31.05.2011 Mutual Fund Manager
INVESCO LTD Multiple Portfolios MF-AGG 68'057'984 0.41 16'822'000 09.03.2012 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 65'080'000 0.39 (2'142'000) 30.09.2011 Mutual Fund Manager
STATE STREET CORP Multiple Portfolios MF-AGG 55'551'734 0.33 - 08.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura SONIA SONG neutral 3 M 9 Not Provided 12.03.2012
Sanford C. Bernstein & Co NEIL BEVERIDGE market perform 3 D 10 12 month 09.03.2012
BOCOM International Holdings FEI WU neutral 3 D 10 12 month 07.03.2012
Barclays Capital SCOTT DARLING equalwt/positive 3 M 10 Not Provided 05.03.2012
Goldman Sachs NILESH BANERJEE Buy/Neutral 5 M 11 12 month 01.03.2012
Standard Chartered YOSSAVEE SUTTIKULPANICH in-line 3 M 8 12 month 24.02.2012
Credit Suisse DAVID HEWITT neutral 3 M 9 Not Provided 23.02.2012
Morgan Stanley WEE KIAT TAN Overwt/Attractive 5 M 11 12 month 21.02.2012
Citi GRAHAM CUNNINGHAM neutral 3 D 10 Not Provided 20.02.2012
CLSA Asia Pacific Markets SIMON POWELL buy 5 M 11 Not Provided 17.02.2012
UOB Kay Hian YAN SHI hold 3 D 10 Not Provided 15.02.2012
Capital Securities Corp TEAM COVERAGE buy 5 M 11 Not Provided 09.02.2012
BNP Paribas Equity Research CHENG KHOO buy 5 M 11 12 month 09.02.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 10 Not Provided 08.02.2012
Jefferies LABAN YU hold 3 M 9 12 month 03.02.2012
Yuanta Securities Investment ConsultingKIM-CHONG TAN buy 5 M 12 Not Provided 19.01.2012
ICBC International Securities ANNA YU buy 5 U 11 Not Provided 19.01.2012
DBS Vickers WEE KEAT LEE buy 5 M 10 12 month 11.01.2012
Citic Securities Co., Ltd YIN XIAODONG buy 5 M 10 6 month 11.01.2012
Macquarie JAMES HUBBARD neutral 3 M 8 12 month 06.01.2012
Mizuho Securities ANDREW S F CHAN neutral 3 M 8 12 month 06.01.2012
Daiwa Securities Capital Markets Co. ADRIAN LOH hold 3 M 8 Not Provided 06.01.2012
Guotai Junan GRACE LIU buy 5 M 9 Not Provided 06.01.2012
Deutsche Bank DAVID HURD buy 5 U 11 12 month 04.01.2012
Mirae Asset Securities GORDON KWAN buy 5 M 10 12 month 04.01.2012
JPMorgan BRYNJAR EIRIK BUSTNES overweight 5 M 9 9 month 15.12.2011
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 30.11.2011
GuoSen Securities Co Ltd STEVEN LU buy 5 M 11 12 month 22.11.2011
RBS DANNY HUANG buy 5 M 9 12 month 01.11.2011
Bank of China International LAWRENCE LAU buy 5 M 8 Not Provided 28.10.2011
SWS Research Co Ltd YE RONG buy 5 M 9 Not Provided 28.10.2011
HSBC PAUL SPEDDING underweight 1 M 6 Not Provided 29.08.2011
China International Capital Corp BIN GUAN buy 5 M 11 12 month 29.08.2011
Masterlink Securities LI XIN hold 3 M 9 6 month 01.04.2011
China Galaxy Securities LI GUOHONG buy 5 M #N/A N/A Not Provided 30.10.2009
Industrial Securities FANG LEI strong buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
China Petroleum & Chemical Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Resources Enterprise Ltd, through its subsidiaries, focuses on the
consumer businesses in both Hong Kong and the Chinese Mainland, with core
activities being retail, beverage, food processing and distribution, textile,
and property investment.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (15.03.2012) 30.80
52-Week Low (26.07.2012) 18.88
Daily Volume
24.95
52-Week High % Change -18.99% Dividend Yield 1.88
52-Week Low % Change 32.15% Beta 0.93
% 52 Week Price Range High/Low 51.76% Equity Float 1'166.01
Shares Out 20.02.2013 2'402.3 Short Int -
59'936.37 1 Yr Total Return -10.49%
Total Debt 15'534.00 YTD Return -10.73%
Preferred Stock 0.0 Adjusted BETA 0.933
Minority Interest 12'628.0 Analyst Recs 27
Cash and Equivalents 18'256.00 Consensus Rating 3.741
Enterprise Value 70'920.37
Average Volume 5 Day 2'158'397
291 HK EQUITY YTD Change - Average Volume 30 Day 3'067'653
291 HK EQUITY YTD % CHANGE - Average Volume 3 Month 3'130'773
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 12/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 64'131.0 103'427.0 129'029.5 152'533.0 29'841.5 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 0.54x 0.46x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 8'803.3 9'638.5 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 8.06x 7.36x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 2'913.0 6'474.0 1'875.1 2'477.1 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 27.60x 24.01x - -
EBITDA 7'125.00 Long-Term Rating Date -
EBIT 4'231.00 Long-Term Rating -
Operating Margin 3.84% Long-Term Outlook -
Pretax Margin 4.93% Short-Term Rating Date -
Return on Assets 3.13% Short-Term Rating -
Return on Common Equity 9.83%
Return on Capital 7.26% EBITDA/Interest Exp. 43.71
Asset Turnover 1.08% (EBITDA-Capex)/Interest Exp. 0.56
Net Debt/EBITDA -0.27
Gross Margin 24.8% Total Debt/EBITDA 2.98
EBITDA Margin 6.2%
EBIT Margin 3.6% Total Debt/Equity 42.7%
Net Income Margin 2.6% Total Debt/Capital 24.1%
Asset Turnover 1.08
Current Ratio 0.96 Net Fixed Asset Turnover 2.46
Quick Ratio 0.37 Accounts receivable turnover-days 4.79
Debt to Assets 13.67% Inventory Days 71.72
Tot Debt to Common Equity 42.73% Accounts Payable Turnover Day 65.16
Accounts Receivable Turnover 76.44 Cash Conversion Cycle 17.86
Inventory Turnover 5.10
Fiscal Year Ended
China Resources Enterprise LtdPrice/Volume
Valuation Analysis
1'997'523.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
70'000.0
80'000.0
90'000.0
100'000.0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GLOBE FAME INVESTMEN n/a Co File 1'232'764'380 51.38 - 30.06.2011 Government
GENESIS ASSET MANAGE n/a EXCH 144'188'662 6.01 - 16.11.2011 Investment Advisor
ARTIO GLOBAL MANAGEM n/a EXCH 119'860'360 5 - 14.10.2010 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 108'953'953 4.54 - 19.04.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 67'620'195 2.82 (2'455'933) 31.12.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 49'032'000 2.04 44'202'000 31.12.2011 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 46'828'900 1.95 - 31.10.2011 Mutual Fund Manager
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 31'884'000 1.33 706'000 30.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 19'924'000 0.83 8'000 08.03.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 19'218'000 0.8 208'000 31.12.2011 Investment Advisor
MIRAE ASSET INVESTME Multiple Portfolios MF-AGG 13'846'000 0.58 (1'786'000) 30.09.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 13'061'281 0.54 (1'922'000) 30.09.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 10'720'183 0.45 125'169 30.06.2011 Investment Advisor
ABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 10'450'000 0.44 2'210'000 31.01.2012 Investment Advisor
DELTA LLOYD FUND MAN Multiple Portfolios MF-AGG 9'271'494 0.39 (138'467) 30.12.2011 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios MF-AGG 8'018'000 0.33 - 31.12.2010 Mutual Fund Manager
SKANDIA GLOBAL FUNDS Multiple Portfolios MF-AGG 7'812'000 0.33 - 31.10.2011 Mutual Fund Manager
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 7'458'000 0.31 2'800'000 29.07.2011 Mutual Fund Manager
JPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 6'196'000 0.26 - 14.04.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 6'192'400 0.26 (18'000) 08.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Standard Chartered CHARLES YAN outperform 5 M 33 12 month 09.03.2012
Capital Securities Corp TEAM COVERAGE buy 5 M 32 Not Provided 09.03.2012
Haitong International Securities CHO FOOK TAT hold 3 U 30 Not Provided 29.02.2012
Goldman Sachs SIMON CHEUNG Buy/Neutral 5 M 36 12 month 27.02.2012
BNP Paribas Equity Research CHARLIE Y CHEN buy 5 M 32 12 month 27.02.2012
JPMorgan KURUMLU EBRU SENER neutral 3 M 25 12 month 20.02.2012
SinoPac KATHARINE SONG buy 5 U 33 12 month 16.02.2012
BOCOM International Holdings PHOEBE WONG neutral 3 M 26 12 month 16.02.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 29 Not Provided 14.02.2012
GuoSen Securities Co Ltd SEASON SUN buy 5 N 36 12 month 08.02.2012
Morgan Stanley LILLIAN LOU Equalwt/Attractive 3 N 29 12 month 03.02.2012
Kim Eng Securities JACQUELINE KO buy 5 M 34 12 month 02.02.2012
Nomura EMMA LIU neutral 3 M 34 Not Provided 30.01.2012
DBS Vickers TITUS WU buy 5 M 30 12 month 27.01.2012
CLSA Asia Pacific Markets XIAOPO WEI buy 5 U 33 Not Provided 06.01.2012
KGI Securities MICHELLE CHEN outperform 5 M 42 12 month 21.12.2011
Jefferies JESSIE GUO buy 5 M 29 12 month 20.12.2011
Barclays Capital VINEET SHARMA overwt/neutral 5 N 31 Not Provided 14.12.2011
Religare Capital Markets KA LEONG LO sell 1 N 23 12 month 06.12.2011
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 30.11.2011
Mirae Asset Securities SELINA SIA buy 5 M 29 12 month 18.11.2011
Macquarie LINDA HUANG outperform 5 M 31 12 month 11.11.2011
Ji Asia WU GONGLIANG sell 1 D 24 12 month 27.10.2011
Deutsche Bank ANNE LING buy 5 M 36 12 month 26.08.2011
China International Capital Corp HAIYAN GUO accumulate 4 M 34 12 month 25.03.2011
Guotai Junan FRANK XU accumulate 4 M 33 Not Provided 07.03.2011
Holdings By:
China Resources Enterprise Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Resources Land Limited, through its subsidiaries, develops and invests in
properties. The Company also provides corporate financing and electrical
engineering services.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (30.01.2013) 24.50
52-Week Low (18.05.2012) 12.40
Daily Volume
21.85
52-Week High % Change -10.82% Dividend Yield 1.05
52-Week Low % Change 76.21% Beta 1.46
% 52 Week Price Range High/Low 75.62% Equity Float 1'856.44
Shares Out 30.09.2012 5'827.4 Short Int -
127'328.66 1 Yr Total Return 49.63%
Total Debt 60'725.36 YTD Return 3.55%
Preferred Stock 0.0 Adjusted BETA 1.465
Minority Interest 6'046.1 Analyst Recs 38
Cash and Equivalents 11'908.09 Consensus Rating 4.579
Enterprise Value 179'698.03
Average Volume 5 Day 8'350'291
1109 HK EQUITY YTD Change - Average Volume 30 Day 9'374'310
1109 HK EQUITY YTD % CHANGE - Average Volume 3 Month 10'562'510
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
5'681.1 9'365.8 16'650.2 25'729.2 35'794.8 - - 46'056.8 58'050.1 - -
14.45x 6.52x 5.86x 4.11x 3.47x - - 3.89x 3.03x - -
1'732.8 2'554.7 4'888.1 8'905.8 12'065.4 - - 13'649.5 15'937.2 - -
47.37x 23.89x 19.95x 11.88x 10.29x - - 13.17x 11.28x - -
1'431.1 1'994.0 4'303.8 6'026.5 8'070.0 - - 7'010.7 8'652.5 - -
43.32x 20.70x 20.02x 11.85x 8.45x - - 17.66x 14.74x - -
EBITDA 11'920.02 Long-Term Rating Date 03.05.2011
EBIT 11'594.30 Long-Term Rating BBB
Operating Margin 32.39% Long-Term Outlook STABLE
Pretax Margin 40.15% Short-Term Rating Date -
Return on Assets 4.50% Short-Term Rating -
Return on Common Equity 14.58%
Return on Capital 7.13% EBITDA/Interest Exp. 7.25
Asset Turnover 0.20% (EBITDA-Capex)/Interest Exp. 5.36
Net Debt/EBITDA 3.72
Gross Margin 39.6% Total Debt/EBITDA 5.32
EBITDA Margin 34.3%
EBIT Margin 33.3% Total Debt/Equity 100.7%
Net Income Margin 22.5% Total Debt/Capital 47.8%
Asset Turnover 0.20
Current Ratio 1.92 Net Fixed Asset Turnover 0.96
Quick Ratio 0.19 Accounts receivable turnover-days 8.11
Debt to Assets 33.63% Inventory Days 1706.91
Tot Debt to Common Equity 100.68% Accounts Payable Turnover Day 38.47
Accounts Receivable Turnover 45.11 Cash Conversion Cycle 1341.69
Inventory Turnover 0.21
Fiscal Year Ended
China Resources Land LtdPrice/Volume
Valuation Analysis
6'779'866.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CRH LAND LTD n/a EXCH 3'959'623'882 67.95 - 11.10.2011 Government
JP MORGAN CHASE & CO n/a EXCH 286'822'306 4.92 - 24.11.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 76'140'331 1.31 3'636'606 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 58'790'989 1.01 43'027'875 31.10.2011 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 56'928'000 0.98 - 30.12.2011 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 39'164'000 0.67 - 31.10.2011 Mutual Fund Manager
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 35'098'000 0.6 22'000 08.03.2012 Investment Advisor
MORGAN STANLEY Multiple Portfolios MF-AGG 26'798'900 0.46 (3'472'000) 31.12.2011 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 23'572'700 0.4 (1'122'000) 30.06.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 16'855'888 0.29 (948'461) 30.06.2011 Investment Advisor
JP MORGAN CHASE & CO n/a Short (16'452'706) -0.28 - 24.11.2011 Investment Advisor
EUROPEAN INVESTORS I n/a Research 15'007'800 0.26 3'494'000 31.12.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 14'569'265 0.25 3'204'000 30.09.2011 Investment Advisor
UBS STRATEGY FUND MG Multiple Portfolios MF-AGG 14'016'000 0.24 (42'000) 30.11.2011 Investment Advisor
CHINA INTERNATIONAL Multiple Portfolios MF-AGG 13'498'000 0.23 (3'368'000) 30.06.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 12'997'570 0.22 2'000 08.03.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 9'764'000 0.17 (682'000) 30.09.2011 Investment Advisor
RBC GLOBAL ASSET MAN Multiple Portfolios MF-AGG 9'699'538 0.17 1'099'538 31.10.2011 Investment Advisor
COHEN & STEERS CAPIT Multiple Portfolios MF-AGG 8'120'500 0.14 7'898'000 08.03.2012 Investment Advisor
FRANK RUSSELL TRUST Multiple Portfolios MF-AGG 8'010'016 0.14 2'716'150 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse JINSONG DU outperform 5 U 17 Not Provided 12.03.2012
JPMorgan LUCIA KWONG neutral 3 M 16 12 month 12.03.2012
Citi OSCAR CHOI buy 5 M 18 Not Provided 12.03.2012
Macquarie DAVID NG outperform 5 M 16 12 month 12.03.2012
DBS Vickers CAROL WU buy 5 M 17 12 month 12.03.2012
CIMB JOHNSON HU outperform 5 M 18 12 month 12.03.2012
Kim Eng Securities IVAN CHEUNG buy 5 M 17 12 month 12.03.2012
China International Capital Corp ERIC YU ZHANG buy 5 M 19 12 month 12.03.2012
BNP Paribas Equity Research FRANK CHEN hold 3 M 16 12 month 12.03.2012
SWS Research Co Ltd KRIS LI outperform 5 D 17 Not Provided 12.03.2012
UOB Kay Hian SYLVIA WONG hold 3 M 16 Not Provided 12.03.2012
Mirae Asset Securities STEPHANIE LAU buy 5 M 16 12 month 12.03.2012
Religare Capital Markets KAREN KWAN buy 5 M 16 12 month 12.03.2012
CMB International Capital Corp Ltd SAMSON MAN buy 5 M 17 12 month 12.03.2012
CCB International Securities Ltd ROSE ZHANG outperform 5 M 16 Not Provided 12.03.2012
BOCOM International Holdings TONI HO CHI CHUNG long-term buy 5 M 17 12 month 12.03.2012
Morgan Stanley BRIAN LEUNG Equalwt/Attractive 3 D 14 12 month 11.03.2012
Goldman Sachs WANG YI buy/attractive 5 M 20 12 month 11.03.2012
HSBC MICHELLE KWOK overweight 5 M 18 Not Provided 11.03.2012
Nomura ALVIN WONG buy 5 M 16 Not Provided 11.03.2012
Standard Chartered RAYMOND CHENG outperform 5 M 19 12 month 10.03.2012
Jefferies CHRISTIE JU buy 5 M 18 12 month 09.03.2012
Deutsche Bank TONY TSANG buy 5 M 21 12 month 07.03.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 16 Not Provided 10.02.2012
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 31.01.2012
GuoSen Securities Co Ltd HUI CAO buy 5 M 15 12 month 11.01.2012
CLSA Asia Pacific Markets NICOLE WONG buy 5 M 15 Not Provided 04.01.2012
Daiwa Securities Capital Markets Co. DANNY BAO hold 3 D 12 Not Provided 19.12.2011
Bank of China International CHRISTINA NGAI buy 5 M 15 Not Provided 24.10.2011
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 18.10.2011
Citic Securities Co., Ltd GARRICK CHENG buy 5 M 17 6 month 22.08.2011
RBS FAN TSO buy 5 M 18 12 month 06.06.2011
Everbright Securities Co., Ltd TIMOTHY YEUNG hold 3 M 14 6 month 08.02.2011
Holdings By:
China Resources Land Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Resources Power Holdings Company Limited is a power generation company.
The Company invests, develops, owns, and operates coal-fired power plants in
China.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (14.02.2013) 23.40
52-Week Low (11.04.2012) 13.42
Daily Volume
20.85
52-Week High % Change -10.90% Dividend Yield 1.44
52-Week Low % Change 55.37% Beta 0.48
% 52 Week Price Range High/Low 75.95% Equity Float 1'729.24
Shares Out 31.01.2013 4'766.9 Short Int -
99'390.11 1 Yr Total Return 44.51%
Total Debt 84'741.84 YTD Return 5.41%
Preferred Stock 0.0 Adjusted BETA 0.479
Minority Interest 14'099.2 Analyst Recs 28
Cash and Equivalents 4'499.65 Consensus Rating 4.679
Enterprise Value 193'887.97
Average Volume 5 Day 5'506'095
836 HK EQUITY YTD Change - Average Volume 30 Day 5'905'570
836 HK EQUITY YTD % CHANGE - Average Volume 3 Month 6'381'736
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 64'995.6 73'927.7 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 2.99x 2.67x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 18'624.4 23'013.6 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 10.41x 8.42x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 6'878.5 8'652.2 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 14.41x 11.31x - -
EBITDA 13'647.50 Long-Term Rating Date 19.04.2011
EBIT 8'145.47 Long-Term Rating BBB
Operating Margin 13.42% Long-Term Outlook NEG
Pretax Margin 11.30% Short-Term Rating Date -
Return on Assets 3.00% Short-Term Rating -
Return on Common Equity 10.61%
Return on Capital 6.47% EBITDA/Interest Exp. 3.32
Asset Turnover 0.38% (EBITDA-Capex)/Interest Exp. 0.35
Net Debt/EBITDA 5.35
Gross Margin - Total Debt/EBITDA 5.80
EBITDA Margin 23.8%
EBIT Margin 14.0% Total Debt/Equity 178.5%
Net Income Margin 7.3% Total Debt/Capital 57.9%
Asset Turnover 0.38
Current Ratio 0.53 Net Fixed Asset Turnover 0.65
Quick Ratio 0.28 Accounts receivable turnover-days 39.88
Debt to Assets 50.33% Inventory Days -
Tot Debt to Common Equity 178.51% Accounts Payable Turnover Day -
Accounts Receivable Turnover 9.18 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Resources Power Holdings Co LtdPrice/Volume
Valuation Analysis
5'963'983.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FINETEX INTERNATIONA n/a EXCH 3'024'999'999 63.71 - 01.04.2011 Government
FIRST STATE INVESTME Multiple Portfolios MF-AGG 134'123'700 2.82 - 31.10.2011 Mutual Fund Manager
FIRST STATE INVESTME Multiple Portfolios MF-AGG 109'531'800 2.31 - 31.10.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 61'105'415 1.29 74'000 31.12.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 36'702'000 0.77 (5'440'000) 31.12.2011 Investment Advisor
BLACKROCK INVESTMENT Multiple Portfolios MF-AGG 30'185'000 0.64 8'294'000 30.11.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 25'868'399 0.54 14'000 08.03.2012 Investment Advisor
PRUDENTIAL ASSET MGM Multiple Portfolios MF-AGG 24'944'000 0.53 - 06.10.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 20'521'200 0.43 8'268'000 31.12.2011 Investment Advisor
FIRST STATE INVEST I n/a EXCH 16'936'000 0.36 - 15.02.2012 n/a
STATE STREET GLOBAL Multiple Portfolios MF-AGG 16'892'486 0.36 253'073 30.06.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 14'697'400 0.31 (6'000) 08.03.2012 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 11'937'800 0.25 3'736'000 30.09.2011 Mutual Fund Manager
COLONIAL FIRST STATE n/a EXCH 6'680'000 0.14 - 15.02.2012 Investment Advisor
MORGAN STANLEY Multiple Portfolios MF-AGG 6'313'000 0.13 (498'000) 31.12.2011 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 6'202'340 0.13 1'650'000 30.06.2011 Investment Advisor
SKANDIA GLOBAL FUNDS Multiple Portfolios MF-AGG 6'009'800 0.13 - 31.10.2011 Mutual Fund Manager
PRUDENTIAL ASSET MAN Multiple Portfolios MF-AGG 5'826'000 0.12 - 31.12.2010 Investment Advisor
SHUAI TING WANG n/a Co File 5'260'920 0.11 - 31.12.2010 n/a
STATE STREET CORP Multiple Portfolios MF-AGG 4'943'600 0.1 - 08.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co MICHAEL W PARKER outperform 5 M 17 12 month 07.03.2012
DBS Vickers JUNE NG buy 5 M 17 12 month 06.03.2012
Deutsche Bank MICHAEL TONG buy 5 M 20 12 month 05.03.2012
Yuanta Securities Investment ConsultingMIN LI buy 5 N 18 Not Provided 05.03.2012
BNP Paribas Equity Research DAISY ZHANG buy 5 M 17 12 month 29.02.2012
HSBC GIUSEPPE JACOBELLI overweight 5 N 18 Not Provided 27.02.2012
JPMorgan BORIS KAN overweight 5 M 19 3 month 22.02.2012
UOB Kay Hian YAN SHI buy 5 N 19 Not Provided 21.02.2012
Jefferies JOSEPH FONG buy 5 M 19 12 month 20.02.2012
Guotai Junan LEO WU accumulate 4 M 18 Not Provided 19.02.2012
Standard Chartered LI EVAN outperform 5 M 18 12 month 18.02.2012
Nomura IVAN LEE buy 5 M 18 Not Provided 17.02.2012
Bank of China International PETER YAO hold 3 D 16 Not Provided 16.02.2012
Mirae Asset Securities RICKY NG buy 5 M 20 12 month 15.02.2012
Credit Suisse EDWIN PANG outperform 5 M 18 Not Provided 13.02.2012
GuoSen Securities Co Ltd VIVIAN FU buy 5 N 18 12 month 09.02.2012
Goldman Sachs FRANKLIN CHOW Buy/Neutral 5 M 18 12 month 18.01.2012
Citi PIERRE LAU buy 5 M 18 Not Provided 18.01.2012
KGI Securities CHEN JUDITH neutral 3 M 15 12 month 23.12.2011
Macquarie SERENA LI outperform 5 M 17 12 month 19.12.2011
Daiwa Securities Capital Markets Co. DAVE DAI buy 5 M 18 Not Provided 02.12.2011
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 30.11.2011
CLSA Asia Pacific Markets ALEX WU buy 5 M 19 Not Provided 03.11.2011
Masterlink Securities TEAM COVERAGE buy 5 M 18 6 month 13.10.2011
China International Capital Corp STEPHEN YU ZHANG hold 3 M 15 12 month 23.08.2011
Morgan Stanley SIMON H Y LEE Overwt/In-Line 5 M 19 12 month 22.08.2011
SWS Research Co Ltd HUANG ZHE neutral 3 M 14 Not Provided 05.07.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 16 Not Provided 09.06.2011
Kim Eng Securities EDWARD FUNG hold 3 M 18 12 month 10.12.2010
Holdings By:
China Resources Power Holdings Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Shenhua Energy Company Limited is an integrated coal-based energy company
focusing on the coal and power businesses in China. The Company also owns and
operates an integrated coal transportation network consisting of dedicated rail
lines and port facilities.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (14.03.2012) 36.25
52-Week Low (07.06.2012) 24.15
Daily Volume
28.35
52-Week High % Change -21.79% Dividend Yield 3.95
52-Week Low % Change 17.39% Beta 1.12
% 52 Week Price Range High/Low 31.82% Equity Float 3'388.20
Shares Out 30.09.2012 3'398.6 Short Int -
558'814.94 1 Yr Total Return -16.35%
Total Debt 60'466.00 YTD Return -16.49%
Preferred Stock 0.0 Adjusted BETA 1.117
Minority Interest 38'492.0 Analyst Recs 39
Cash and Equivalents 64'945.00 Consensus Rating 4.462
Enterprise Value 489'098.69
Average Volume 5 Day 20'762'900
1088 HK EQUITY YTD Change - Average Volume 30 Day 18'879'120
1088 HK EQUITY YTD % CHANGE - Average Volume 3 Month 16'476'650
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 119'358.0 157'766.0 235'355.7 255'911.5 64'028.5 57'210.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 16.37x 7.50x 2.05x 1.82x 7.79x -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 42'617.0 16'138.0 85'271.5 90'214.7 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 5.74x 5.42x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 29'961.0 37'501.0 46'880.1 49'068.9 8'107.3 11'151.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 19.79x 0.00x 9.61x 9.26x 9.31x 8.82x
EBITDA 84'268.00 Long-Term Rating Date -
EBIT 68'697.00 Long-Term Rating -
Operating Margin 33.00% Long-Term Outlook -
Pretax Margin 31.92% Short-Term Rating Date -
Return on Assets 12.40% Short-Term Rating -
Return on Common Equity 22.73%
Return on Capital 19.01% EBITDA/Interest Exp. 24.19
Asset Turnover 0.57% (EBITDA-Capex)/Interest Exp. 11.28
Net Debt/EBITDA 0.03
Gross Margin 38.5% Total Debt/EBITDA 0.64
EBITDA Margin 37.9%
EBIT Margin 30.5% Total Debt/Equity 26.8%
Net Income Margin 21.9% Total Debt/Capital 18.6%
Asset Turnover 0.57
Current Ratio 1.23 Net Fixed Asset Turnover 0.88
Quick Ratio 0.89 Accounts receivable turnover-days 25.15
Debt to Assets 15.08% Inventory Days 35.89
Tot Debt to Common Equity 26.78% Accounts Payable Turnover Day 56.44
Accounts Receivable Turnover 14.55 Cash Conversion Cycle -4.93
Inventory Turnover 10.20
Fiscal Year Ended
China Shenhua Energy Co LtdPrice/Volume
Valuation Analysis
24'516'418.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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20'000.0
40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
140'000.0
160'000.0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN CHASE & CO n/a EXCH 264'546'126 7.78 - 29.11.2011 Investment Advisor
CAPITAL GROUP COMPAN n/a Co File 169'960'025 5 - 31.12.2010 Investment Advisor
UBS AG n/a EXCH 168'903'007 4.97 - 12.11.2010 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 141'675'104 4.17 629'000 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 99'327'500 2.92 (66'500) 08.03.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 56'798'000 1.67 - 29.12.2011 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 53'339'910 1.57 1'088'650 31.01.2012 Investment Advisor
UBS AG n/a Short (51'101'315) -1.5 - 12.11.2010 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 46'506'500 1.37 (5'820'500) 31.12.2011 Investment Advisor
BLACKROCK INC n/a Short (32'145'690) -0.95 1'986'172 02.03.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 30'381'813 0.89 348'260 30.06.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 27'567'463 0.81 (14'000) 08.03.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 27'096'000 0.8 (13'123'500) 30.09.2011 Mutual Fund Manager
FIDELITY INTERNATION Multiple Portfolios MF-AGG 26'821'210 0.79 2'961'736 31.10.2011 Investment Advisor
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 26'309'025 0.77 (2'036'000) 30.11.2011 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 19'047'500 0.56 2'145'500 31.12.2011 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 18'653'500 0.55 (3'037'000) 30.09.2011 Mutual Fund Manager
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 18'423'630 0.54 (286'000) 30.09.2011 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 15'078'000 0.44 - 31.01.2012 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 13'558'500 0.4 (103'500) 29.07.2011 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
SinoPac ROBERT WEI buy 5 M 43 12 month 12.03.2012
Goldman Sachs JULIAN ZHU Buy/Neutral 5 M 41 12 month 09.03.2012
Capital Securities Corp TEAM COVERAGE buy 5 M 38 Not Provided 09.03.2012
Sanford C. Bernstein & Co MICHAEL W PARKER underperform 1 M 26 12 month 07.03.2012
BOCOM International Holdings HE WEI long-term buy 5 M 44 12 month 07.03.2012
JPMorgan DANIEL KANG overweight 5 M 44 12 month 06.03.2012
BNP Paribas Equity Research JAMES CLARKE buy 5 M 49 12 month 05.03.2012
Nomura IVAN LEE neutral 3 M 38 Not Provided 05.03.2012
ICBC International Securities ANNA YU buy 5 M 44 Not Provided 05.03.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 05.03.2012
Deutsche Bank JAMES KAN buy 5 M 40 12 month 02.03.2012
DBS Vickers JUNE NG buy 5 M 41 12 month 02.03.2012
Mizuho Securities KELVIN NG neutral 3 M 34 12 month 02.03.2012
Core Pacific KENNY CHEUNG buy 5 M 43 12 month 02.03.2012
CCB International Securities Ltd KAREN LI neutral 3 M 40 Not Provided 02.03.2012
Morgan Stanley WEE KIAT TAN Overwt/In-Line 5 M 48 12 month 01.03.2012
Barclays Capital EPHREM RAVI overwt/positive 5 M 45 Not Provided 27.02.2012
Macquarie MATTY ZHAO outperform 5 M 44 12 month 20.02.2012
Bank of China International LAWRENCE LAU buy 5 M 40 Not Provided 16.02.2012
Credit Suisse TRINA CHEN outperform 5 M 50 Not Provided 14.02.2012
Citi SCARLETT Y CHEN buy 5 M 41 Not Provided 08.02.2012
HSBC SARAH MAK overweight 5 M 47 Not Provided 06.02.2012
Masterlink Securities LI XIN buy 5 M 41 6 month 02.02.2012
Standard Chartered CHEN YAN outperform 5 M 42 12 month 18.01.2012
RBS JEANNETTE SIM buy 5 M 46 12 month 12.01.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 38 Not Provided 10.01.2012
KGI Securities YANG TAO neutral 3 M 36 12 month 21.12.2011
CLSA Asia Pacific Markets ANDREW DRISCOLL outperform 5 M 39 Not Provided 13.12.2011
UOB Kay Hian HELEN LAU buy 5 M 43 Not Provided 01.12.2011
Daiwa Securities Capital Markets Co. FELIX LAM buy 5 M 41 Not Provided 29.11.2011
Citic Securities Co., Ltd LUO ZETING buy 5 M 46 Not Provided 23.11.2011
Yuanta Securities Investment ConsultingJOHNNY WONG buy 5 M 44 Not Provided 22.11.2011
Religare Capital Markets CATHERINE WANG buy 5 M 45 12 month 04.11.2011
Ji Asia SAMUEL THAWLEY neutral 3 D #N/A N/A Not Provided 25.10.2011
GuoSen Securities Co Ltd DAVID LAM buy 5 N #N/A N/A Not Provided 20.09.2011
Guotai Junan LEO WU accumulate 4 M 38 Not Provided 06.09.2011
China International Capital Corp CAI HONGYU buy 5 M 42 12 month 29.08.2011
SWS Research Co Ltd HUANG ZHE neutral 3 M 35 Not Provided 05.07.2011
Redford Assets Management Ltd LAM KA KEI buy 5 M 38 Not Provided 08.03.2011
Cinda Securities Ltd CASTOR PANG buy 5 N 35 Not Provided 07.07.2010
Celestial Securities Limited HENRY LI buy 5 N 45 12 month 17.03.2010
Holdings By:
China Shenhua Energy Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
China Unicom (Hong Kong) Limited, through its subsidiaries, provides
telecommunications services in the People's Republic of China. The Company's
services include cellular, paging, long distance, data, and Internet services.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (09.03.2012) 14.38
52-Week Low (18.07.2012) 9.45
Daily Volume
10.96
52-Week High % Change -23.78% Dividend Yield 1.14
52-Week Low % Change 15.98% Beta 0.88
% 52 Week Price Range High/Low 32.66% Equity Float 4'576.91
Shares Out 06.11.2012 23'565.1 Short Int -
258'272.97 1 Yr Total Return -20.71%
Total Debt 107'108.00 YTD Return -11.76%
Preferred Stock 0.0 Adjusted BETA 0.883
Minority Interest 0.0 Analyst Recs 36
Cash and Equivalents 15'410.00 Consensus Rating 3.944
Enterprise Value 308'664.53
Average Volume 5 Day 26'756'070
762 HK EQUITY YTD Change - Average Volume 30 Day 29'180'260
762 HK EQUITY YTD % CHANGE - Average Volume 3 Month 26'667'060
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 164'653.0 202'122.0 251'467.8 288'376.5 65'061.0 66'484.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 6.69x 6.94x 1.25x 1.12x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 71'888.0 90'803.0 73'588.6 85'656.0 18'432.0 20'064.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 4.29x 4.19x 3.60x 3.75x 3.62x
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 3'882.0 4'846.0 6'943.6 11'176.3 1'292.7 2'476.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 59.32x 63.84x 30.13x 18.92x 19.51x 17.25x
EBITDA 63'996.00 Long-Term Rating Date -
EBIT 5'975.00 Long-Term Rating -
Operating Margin 2.86% Long-Term Outlook -
Pretax Margin 2.68% Short-Term Rating Date -
Return on Assets 1.10% Short-Term Rating -
Return on Common Equity 2.43%
Return on Capital 2.30% EBITDA/Interest Exp. 18.36
Asset Turnover 0.50% (EBITDA-Capex)/Interest Exp. -3.98
Net Debt/EBITDA 1.38
Gross Margin - Total Debt/EBITDA 1.65
EBITDA Margin 29.7%
EBIT Margin 3.6% Total Debt/Equity 52.0%
Net Income Margin 2.0% Total Debt/Capital 34.2%
Asset Turnover 0.50
Current Ratio 0.18 Net Fixed Asset Turnover 0.60
Quick Ratio 0.13 Accounts receivable turnover-days 19.19
Debt to Assets 23.48% Inventory Days -
Tot Debt to Common Equity 52.02% Accounts Payable Turnover Day -
Accounts Receivable Turnover 19.07 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Unicom Hong Kong LtdPrice/Volume
Valuation Analysis
26'310'334.00
Current Price (2/dd/yy) Market Data
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40'000.0
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100'000.0
120'000.0
140'000.0
160'000.0
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27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA UNICOM BVI LTD n/a Co File 9'725'000'020 41.27 - 31.12.2010 Government
CHINA NETCOM GROUP C n/a Co File 7'234'075'906 30.7 - 31.12.2010 Government
TELEFONICA INTERNACI n/a 13D 2'254'378'708 9.57 - 07.09.2011 Corporation
VANGUARD GROUP INC Multiple Portfolios MF-AGG 221'165'685 0.94 1'111'000 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 192'546'028 0.82 (154'000) 08.03.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 89'878'555 0.38 48'448'956 30.12.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 74'448'000 0.32 (2'540'000) 31.12.2011 Investment Advisor
MASSACHUSETTS FINANC Multiple Portfolios MF-AGG 67'608'000 0.29 530'000 31.12.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 53'982'000 0.23 (7'594'000) 31.01.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 50'987'128 0.22 (897'700) 08.03.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 42'127'433 0.18 489'226 30.06.2011 Investment Advisor
HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 40'900'000 0.17 (5'470'000) 30.06.2011 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 30'490'000 0.13 5'348'000 31.05.2011 Mutual Fund Manager
PRUDENTIAL ASSET MAN Multiple Portfolios MF-AGG 19'793'990 0.08 - 31.12.2010 Investment Advisor
BLACKROCK INVESTMENT Multiple Portfolios MF-AGG 19'742'000 0.08 (201'800) 30.11.2011 Investment Advisor
PRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 19'216'052 0.08 1'608'000 31.01.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 18'800'000 0.08 - 30.09.2011 Investment Advisor
GARTMORE GROUP LTD Multiple Portfolios MF-AGG 18'096'000 0.08 - 31.01.2012 Investment Advisor
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 17'710'000 0.08 - 31.12.2011 Investment Advisor
IVY MANAGEMENT INCOR Multiple Portfolios MF-AGG 16'070'000 0.07 34'000 30.09.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies CYNTHIA JINHONG MENG buy 5 M 21 12 month 09.03.2012
Nomura DANNY CHU buy 5 M 20 Not Provided 07.03.2012
Barclays Capital ANAND RAMACHANDRAN underwt/neutral 1 M 15 Not Provided 07.03.2012
BOCOM International Holdings LI ZHIWU sell 1 M 10 12 month 02.03.2012
Morgan Stanley NAVIN KILLA Overwt/In-Line 5 M 19 12 month 29.02.2012
Yuanta Securities Investment ConsultingKELVIN HO buy 5 M 18 Not Provided 27.02.2012
Bank of China International MICHAEL MENG hold 3 M 16 Not Provided 21.02.2012
RBS TOMMY MOK buy 5 M 17 12 month 16.02.2012
Citi BIN LIU buy 5 M 17 Not Provided 16.02.2012
ICBC International Securities KARY SEI buy 5 U 17 Not Provided 16.02.2012
BNP Paribas Equity Research ALEN LIN hold 3 M 16 12 month 15.02.2012
Mirae Asset Securities ERIC WEN buy 5 U 17 12 month 14.02.2012
China International Capital Corp CHEN HAOFEI buy 5 M 18 12 month 08.02.2012
Mizuho Securities MARVIN LO neutral 3 N 15 12 month 01.02.2012
DBS Vickers TAM TSZ-WANG buy 5 M 18 12 month 20.01.2012
Credit Suisse COLIN MCCALLUM outperform 5 M 21 Not Provided 19.01.2012
SWS Research Co Ltd JIM TANG outperform 5 M 18 Not Provided 19.01.2012
CLSA Asia Pacific Markets ELINOR LEUNG underperform 1 M 16 Not Provided 12.01.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 18 Not Provided 06.01.2012
HSBC TUCKER GRINNAN neutral 3 M 17 Not Provided 05.01.2012
Ji Asia NEIL JUGGINS sell 1 M 13 12 month 16.12.2011
Standard Chartered STEVEN LIU underperform 1 M 13 12 month 09.12.2011
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 30.11.2011
First Shanghai Securities Ltd TSOI HO buy 5 M 20 12 month 22.11.2011
Capital Securities Corp TEAM COVERAGE hold 3 N #N/A N/A Not Provided 28.10.2011
Kim Eng Securities ANDY POON buy 5 M 19 12 month 28.10.2011
Citic Securities Co., Ltd PATRICK CHOI buy 5 M 20 6 month 28.10.2011
UOB Kay Hian VICTOR YIP hold 3 M 14 Not Provided 28.10.2011
JPMorgan LUCY LIU overweight 5 M 19 Not Provided 27.10.2011
Daiwa Securities Capital Markets Co. ALAN KAM hold 3 M 16 Not Provided 27.10.2011
Macquarie LISA SOH underperform 1 M 12 12 month 13.09.2011
Deutsche Bank ALAN HELLAWELL buy 5 M 22 12 month 30.08.2011
Goldman Sachs DONALD LU neutral/neutral 3 M 16 12 month 26.08.2011
Pacific Crest Securities STEVE CLEMENT outperform 5 M 17 12 month 24.08.2011
Haitong International Securities ALEX LEE hold 3 M 14 12 month 18.07.2011
Masterlink Securities TEAM COVERAGE buy 5 N 13 Not Provided 05.08.2010
Orient Securities JUN ZHOU buy 5 N #N/A N/A Not Provided 14.07.2009
Holdings By:
China Unicom Hong Kong Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Citic Pacific Limited manufactures special steel used in bearings, gears,
springs, and high-pressurized piping steel. The Company also has operation in
iron ore mining which supplies the raw material in making of special steel and
property development in mainland China.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (01.03.2012) 14.92
52-Week Low (05.09.2012) 8.64
Daily Volume
11.08
52-Week High % Change -25.74% Dividend Yield 4.06
52-Week Low % Change 28.24% Beta 1.17
% 52 Week Price Range High/Low 39.17% Equity Float 1'309.35
Shares Out 30.06.2012 3'649.4 Short Int -
40'435.84 1 Yr Total Return -18.97%
Total Debt 98'707.00 YTD Return -4.15%
Preferred Stock 0.0 Adjusted BETA 1.167
Minority Interest 13'006.0 Analyst Recs 10
Cash and Equivalents 30'930.00 Consensus Rating 2.800
Enterprise Value 130'402.84
Average Volume 5 Day 7'849'503
267 HK EQUITY YTD Change - Average Volume 30 Day 8'805'024
267 HK EQUITY YTD % CHANGE - Average Volume 3 Month 10'936'800
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/11 Q3 12/11 Q4
38'534.0 46'420.0 46'409.0 70'614.0 100'086.0 0.0 0.0 102'347.1 116'158.3 - -
3.16x 1.63x 2.70x 1.96x - #DIV/0! #DIV/0! 1.37x 1.25x - -
4'749.0 5'223.0 5'205.0 7'008.0 - 0.0 0.0 9'580.6 11'416.1 - -
25.66x 14.46x 24.08x 19.79x - 0.00x 0.00x 13.61x 11.42x - -
10'843.0 (12'687.0) 5'950.0 8'915.0 9'233.0 0.0 0.0 5'761.6 4'960.3 - -
8.87x - 12.82x 8.28x 5.53x 0.00x 0.00x 7.38x 8.39x - -
EBITDA 9'439.00 Long-Term Rating Date 18.07.2011
EBIT 7'259.00 Long-Term Rating BB+
Operating Margin 7.25% Long-Term Outlook NEG
Pretax Margin 13.53% Short-Term Rating Date 22.06.2006
Return on Assets 3.75% Short-Term Rating NR
Return on Common Equity 11.53%
Return on Capital 6.00% EBITDA/Interest Exp. 2.32
Asset Turnover 0.45% (EBITDA-Capex)/Interest Exp. -1.51
Net Debt/EBITDA 9.05
Gross Margin 14.2% Total Debt/EBITDA 13.24
EBITDA Margin 8.2%
EBIT Margin 5.7% Total Debt/Equity 131.6%
Net Income Margin 9.2% Total Debt/Capital 52.9%
Asset Turnover 0.45
Current Ratio 1.15 Net Fixed Asset Turnover 0.96
Quick Ratio 0.64 Accounts receivable turnover-days 23.81
Debt to Assets 42.96% Inventory Days 77.82
Tot Debt to Common Equity 131.60% Accounts Payable Turnover Day 50.67
Accounts Receivable Turnover 15.37 Cash Conversion Cycle 47.40
Inventory Turnover 4.70
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
CITIC Pacific LtdPrice/Volume
Valuation Analysis
6'771'563.00
Current Price (2/dd/yy) Market Data
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60'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FULL CHANCE INVESTME n/a EXCH 450'416'694 12.34 - 27.12.2011 n/a
NEWEASE INVESTMENS n/a EXCH 450'416'694 12.34 - 27.12.2011 n/a
SKYPROFIT HOLDINGS L n/a EXCH 450'416'694 12.34 - 27.12.2011 n/a
HONPVILLE CORP n/a EXCH 310'988'221 8.52 - 27.12.2011 n/a
CHI KIN YUNG n/a EXCH 281'928'000 7.73 - 15.11.2011 n/a
JETWAY CORP n/a EXCH 122'336'918 3.35 - 27.12.2011 n/a
WESTMINSTER INVESTME n/a EXCH 101'960'000 2.79 - 27.12.2011 n/a
HAINSWORTH LTD n/a EXCH 93'136'000 2.55 - 27.12.2011 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 46'460'995 1.27 164'000 31.12.2011 Investment Advisor
AFFLUENCE LTD n/a EXCH 43'266'000 1.19 - 27.12.2011 n/a
CORDIA CORP n/a EXCH 32'258'064 0.88 - 27.12.2011 n/a
WINTON CORP n/a EXCH 30'718'000 0.84 - 27.12.2011 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 20'179'000 0.55 10'000 08.03.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 15'758'000 0.43 13'000 09.03.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 11'415'740 0.31 132'577 30.06.2011 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 10'831'000 0.3 5'179'000 31.05.2011 Mutual Fund Manager
SOUTHPOINT ENTERPRIS n/a EXCH 10'000'000 0.27 - 27.12.2011 n/a
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 9'724'740 0.27 1'748'740 31.12.2011 Investment Advisor
DESMARAIS ANDRE n/a Co File 8'145'000 0.22 - 31.12.2010 n/a
UBS STRATEGY FUND MG Multiple Portfolios MF-AGG 6'974'000 0.19 - 30.11.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Standard Chartered JEREMY GRAY underperform 1 D 13 12 month 02.03.2012
Haitong International Securities CHO FOOK TAT buy 5 M 17 12 month 02.03.2012
CLSA Asia Pacific Markets PAUL KALOGIROU underperform 1 M 15 Not Provided 02.03.2012
Morgan Stanley COREY CHAN Overwt/In-Line 5 M 17 12 month 01.03.2012
Goldman Sachs SIMON CHEUNG neutral/neutral 3 M 16 12 month 01.03.2012
JPMorgan BENJAMIN LO neutral 3 M 13 9 month 01.03.2012
Jefferies CHRISTIE JU buy 5 M 19 12 month 01.03.2012
Citi ANIL DASWANI sell 1 M 11 Not Provided 01.03.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 13.02.2012
Deutsche Bank MICHAEL LEE hold 3 M 14 12 month 17.01.2012
Guotai Junan SIMON JIANG neutral 3 M 9 Not Provided 12.07.2009
Holdings By:
CITIC Pacific Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
CLP Holdings Limited, through its subsidiaries, generates and supplies
electricity. The Company also develops and invests in power projects and
invests in properties.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (08.03.2012) 69.00
52-Week Low (04.06.2012) 62.50
Daily Volume
66.55
52-Week High % Change -3.55% Dividend Yield 3.86
52-Week Low % Change 6.48% Beta 0.44
% 52 Week Price Range High/Low 66.92% Equity Float 1'838.59
Shares Out 31.12.2012 2'526.5 Short Int -
168'135.30 1 Yr Total Return 4.55%
Total Debt 93'253.00 YTD Return 2.62%
Preferred Stock 0.0 Adjusted BETA 0.445
Minority Interest 74.0 Analyst Recs 19
Cash and Equivalents 13'026.00 Consensus Rating 3.000
Enterprise Value 248'436.29
Average Volume 5 Day 3'779'146
2 HK EQUITY YTD Change - Average Volume 30 Day 3'444'872
2 HK EQUITY YTD % CHANGE - Average Volume 3 Month 4'475'480
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 104'427.9 110'941.9 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 2.22x 2.10x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 22'999.3 24'352.0 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 10.80x 10.20x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 10'720.7 11'328.9 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 15.27x 14.51x - -
EBITDA 22'181.00 Long-Term Rating Date 02.03.2011
EBIT 15'160.00 Long-Term Rating A-
Operating Margin 14.46% Long-Term Outlook STABLE
Pretax Margin 9.52% Short-Term Rating Date 26.06.2008
Return on Assets 3.75% Short-Term Rating A-2
Return on Common Equity 9.64%
Return on Capital 6.99% EBITDA/Interest Exp. 3.64
Asset Turnover 0.47% (EBITDA-Capex)/Interest Exp. 1.54
Net Debt/EBITDA 3.15
Gross Margin - Total Debt/EBITDA 3.66
EBITDA Margin 24.3%
EBIT Margin 14.5% Total Debt/Equity 102.3%
Net Income Margin 7.9% Total Debt/Capital 50.6%
Asset Turnover 0.47
Current Ratio 0.99 Net Fixed Asset Turnover 0.79
Quick Ratio 0.76 Accounts receivable turnover-days 49.28
Debt to Assets 40.77% Inventory Days -
Tot Debt to Common Equity 102.33% Accounts Payable Turnover Day -
Accounts Receivable Turnover 7.43 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
CLP Holdings LtdPrice/Volume
Valuation Analysis
5'533'319.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
70'000.0
80'000.0
90'000.0
100'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
LAWRENCIUM MIKADO HO n/a Co File 239'044'212 9.93 - 31.12.2010 n/a
RON & RITA MCAULAY F n/a EXCH 209'014'077 8.69 - 23.08.2011 n/a
OAK CLP LTD n/a Co File 196'554'172 8.17 - 30.06.2010 n/a
LAWRENCIUM HOLDINGS n/a Co File 147'980'670 6.15 - 31.12.2010 n/a
ACORN HOLDINGS CORP n/a Co File 70'146'655 2.92 - 31.12.2010 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 28'872'700 1.2 (14'000) 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 18'796'485 0.78 498'500 31.12.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 18'535'000 0.77 - 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 16'132'564 0.67 183'553 30.06.2011 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 12'521'700 0.52 (51'500) 30.12.2011 Investment Advisor
LASHMI CO LTD n/a EXCH 7'359'811 0.31 - 08.10.2009 n/a
MERLIN INVESTMENTS L n/a EXCH 7'359'811 0.31 - 08.10.2009 n/a
UMB BANK N A Multiple Portfolios MF-AGG 6'245'160 0.26 - 31.01.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 4'728'534 0.2 1'066'000 08.03.2012 Investment Advisor
MACQUARIE INVESTMENT Multiple Portfolios MF-AGG 3'557'500 0.15 - 30.06.2011 Mutual Fund Manager
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 3'360'000 0.14 (13'000) 08.03.2012 Investment Advisor
COHEN & STEERS CAPIT Multiple Portfolios MF-AGG 3'081'000 0.13 - 31.12.2011 Investment Advisor
SUMITOMO MITSUI ASSE Multiple Portfolios MF-AGG 3'012'600 0.13 - 30.11.2011 Investment Advisor
RAIFFEISEN KAPITALAN Multiple Portfolios MF-AGG 2'722'000 0.11 - 29.12.2011 Investment Advisor
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 2'679'733 0.11 31'469 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co MICHAEL W PARKER underperform 1 M 50 12 month 07.03.2012
Nomura IVAN LEE neutral 3 M 65 Not Provided 07.03.2012
EVA Dimensions TEAM COVERAGE underweight 1 U #N/A N/A Not Provided 06.03.2012
Morgan Stanley SIMON H Y LEE Equalwt/In-Line 3 M 71 12 month 28.02.2012
Credit Suisse EDWIN PANG neutral 3 M 69 Not Provided 28.02.2012
Bank of China International PETER YAO hold 3 M 71 Not Provided 28.02.2012
Mirae Asset Securities RICKY NG buy 5 M 74 12 month 28.02.2012
CLSA Asia Pacific Markets RAJESH PANJWANI underperform 1 M 65 Not Provided 28.02.2012
Ji Asia FELIX FOK buy 5 M 74 12 month 28.02.2012
RBS JENNY COSGROVE buy 5 M 78 12 month 27.02.2012
Goldman Sachs FRANKLIN CHOW neutral/neutral 3 M 69 12 month 27.02.2012
JPMorgan ELAINE WU neutral 3 M 72 3 month 27.02.2012
DBS Vickers JUNE NG hold 3 M 69 12 month 27.02.2012
Deutsche Bank ERIC CHENG buy 5 U 70 12 month 20.02.2012
Macquarie ADAM WORTHINGTON outperform 5 M 72 12 month 19.01.2012
Citi PIERRE LAU neutral 3 M 73 Not Provided 08.10.2011
Standard Chartered DENNIS IP in-line 3 M 72 12 month 17.08.2011
Daiwa Securities Capital Markets Co. DAVE DAI hold 3 N 72 Not Provided 12.08.2011
Holdings By:
CLP Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
CNOOC Limited, through its subsidiaries, explores, develops, produces, and sells
crude oil and natural gas.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (29.02.2012) 17.84
52-Week Low (05.06.2012) 13.18
Daily Volume
14.98
52-Week High % Change -16.03% Dividend Yield 2.91
52-Week Low % Change 13.66% Beta 1.27
% 52 Week Price Range High/Low 40.34% Equity Float 15'873.58
Shares Out 30.09.2012 44'646.3 Short Int -
668'801.63 1 Yr Total Return -10.35%
Total Debt 37'995.00 YTD Return -10.73%
Preferred Stock 0.0 Adjusted BETA 1.273
Minority Interest 0.0 Analyst Recs 34
Cash and Equivalents 99'197.00 Consensus Rating 3.706
Enterprise Value 476'379.26
Average Volume 5 Day 48'561'960
883 HK EQUITY YTD Change - Average Volume 30 Day 62'790'070
883 HK EQUITY YTD % CHANGE - Average Volume 3 Month 52'584'860
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 236'712.4 243'883.9 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 2.25x 2.17x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 123'473.8 127'363.1 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 3.86x 3.74x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 65'370.6 63'543.4 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 8.25x 8.49x - -
EBITDA 119'044.00 Long-Term Rating Date 16.12.2010
EBIT 88'523.00 Long-Term Rating AA-
Operating Margin 36.74% Long-Term Outlook STABLE
Pretax Margin 38.42% Short-Term Rating Date -
Return on Assets 16.17% Short-Term Rating -
Return on Common Equity 23.71%
Return on Capital - EBITDA/Interest Exp. 76.41
Asset Turnover 0.60% (EBITDA-Capex)/Interest Exp. 42.61
Net Debt/EBITDA -0.53
Gross Margin - Total Debt/EBITDA 0.48
EBITDA Margin 48.6%
EBIT Margin 35.1% Total Debt/Equity 14.5%
Net Income Margin 29.2% Total Debt/Capital 12.6%
Asset Turnover 0.60
Current Ratio 1.88 Net Fixed Asset Turnover 1.08
Quick Ratio 1.71 Accounts receivable turnover-days 31.60
Debt to Assets 9.89% Inventory Days -
Tot Debt to Common Equity 14.45% Accounts Payable Turnover Day -
Accounts Receivable Turnover 11.58 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
CNOOC LtdPrice/Volume
Valuation Analysis
47'860'635.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA NATIONAL OFFSH n/a 20F 28'772'727'273 64.45 - 31.03.2011 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 689'004'195 1.54 604'200 31.12.2011 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 514'880'647 1.15 (18'054'700) 31.01.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 476'763'000 1.07 (142'000) 08.03.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 279'336'429 0.63 (11'451'328) 30.12.2011 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 273'894'070 0.61 649'000 31.12.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 241'190'000 0.54 29'961'000 31.12.2011 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 165'671'500 0.37 - 31.10.2011 Mutual Fund Manager
STATE STREET GLOBAL Multiple Portfolios MF-AGG 159'322'312 0.36 1'446'810 30.06.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 151'819'600 0.34 (1'574'000) 08.03.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 130'331'000 0.29 10'445'000 31.12.2011 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 110'292'000 0.25 - 29.12.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 86'797'957 0.19 18'000 30.09.2011 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 83'227'000 0.19 (16'280'000) 30.09.2011 Mutual Fund Manager
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 78'800'100 0.18 (48'625'000) 31.12.2011 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 75'666'375 0.17 28'593'000 09.03.2012 Investment Advisor
JPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 73'463'000 0.16 17'215'000 31.12.2011 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 64'346'919 0.14 58'435'000 30.09.2011 Mutual Fund Manager
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 63'023'500 0.14 (7'368'000) 31.01.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 62'990'436 0.14 1'089'000 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura SONIA SONG buy 5 M 20 Not Provided 12.03.2012
Sanford C. Bernstein & Co NEIL BEVERIDGE outperform 5 M 21 12 month 09.03.2012
BOCOM International Holdings FEI WU long-term buy 5 M 16 12 month 07.03.2012
Barclays Capital SCOTT DARLING overwt/positive 5 M 21 Not Provided 05.03.2012
Goldman Sachs NILESH BANERJEE neutral/neutral 3 D 19 12 month 01.03.2012
Deutsche Bank DAVID HURD buy 5 M 21 12 month 29.02.2012
Credit Suisse DAVID HEWITT neutral 3 D 18 Not Provided 23.02.2012
BNP Paribas Equity Research CHENG KHOO buy 5 M 18 12 month 23.02.2012
Jefferies LABAN YU underperform 1 D 14 12 month 15.02.2012
Citi GRAHAM CUNNINGHAM buy 5 M 20 Not Provided 15.02.2012
UOB Kay Hian YAN SHI hold 3 D 18 Not Provided 15.02.2012
Standard Chartered YOSSAVEE SUTTIKULPANICH outperform 5 M 18 12 month 19.01.2012
Yuanta Securities Investment ConsultingKIM-CHONG TAN hold 3 M 17 Not Provided 19.01.2012
Macquarie JAMES HUBBARD outperform 5 M 21 12 month 19.01.2012
Bank of China International LAWRENCE LAU hold 3 M 16 Not Provided 19.01.2012
China International Capital Corp BIN GUAN accumulate 4 D 19 12 month 19.01.2012
Mirae Asset Securities GORDON KWAN buy 5 M 18 12 month 19.01.2012
CLSA Asia Pacific Markets SIMON POWELL underperform 1 M 16 Not Provided 19.01.2012
ICBC International Securities ANNA YU hold 3 D 17 Not Provided 19.01.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 17 Not Provided 19.01.2012
Morgan Stanley WEE KIAT TAN Overwt/Attractive 5 M 23 12 month 18.01.2012
Daiwa Securities Capital Markets Co. ADRIAN LOH buy 5 M 21 Not Provided 18.01.2012
DBS Vickers WEE KEAT LEE hold 3 D 16 12 month 11.01.2012
Mizuho Securities ANDREW S F CHAN buy 5 M 20 12 month 06.01.2012
Guotai Junan GRACE LIU accumulate 4 M 23 Not Provided 06.01.2012
JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 13 9 month 14.12.2011
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 30.11.2011
GuoSen Securities Co Ltd STEVEN LU neutral 3 M #N/A N/A Not Provided 22.11.2011
RBS AIDEN BRADLEY hold 3 M 14 12 month 07.11.2011
SWS Research Co Ltd YE RONG neutral 3 D 16 Not Provided 27.10.2011
Ji Asia SAMUEL THAWLEY sell 1 D 10 12 month 03.10.2011
HSBC PAUL SPEDDING overweight 5 M 23 Not Provided 06.09.2011
Capital Securities Corp TEAM COVERAGE hold 3 M #N/A N/A Not Provided 21.07.2011
Redford Assets Management Ltd LAM KA KEI buy 5 N 22 Not Provided 24.03.2011
Industrial Securities FANG LEI buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
CNOOC Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
COSCO Pacific Limited, through its subsidiaries, provides shipping container
leasing services worldwide. The Company also operates container terminals and
provides container handling, storage, transportation and management services,
as well as depot handling and stevedoring services.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (23.01.2013) 13.32
52-Week Low (05.06.2012) 8.82
Daily Volume
12.16
52-Week High % Change -8.71% Dividend Yield 3.11
52-Week Low % Change 37.87% Beta 1.47
% 52 Week Price Range High/Low 75.56% Equity Float 1'580.95
Shares Out 31.01.2013 2'786.2 Short Int -
33'880.51 1 Yr Total Return 10.29%
Total Debt 2'311.64 YTD Return 10.14%
Preferred Stock 0.0 Adjusted BETA 1.469
Minority Interest 252.8 Analyst Recs 26
Cash and Equivalents 580.96 Consensus Rating 4.308
Enterprise Value 6'317.29
Average Volume 5 Day 5'855'563
1199 HK EQUITY YTD Change - Average Volume 30 Day 6'626'999
1199 HK EQUITY YTD % CHANGE - Average Volume 3 Month 6'766'691
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 437.1 555.1 732.8 804.2 184.0 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 41.60x 35.00x 9.55x 9.08x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 436.7 487.2 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 14.47x 12.97x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 318.0 402.9 356.9 401.7 126.0 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 18.36x 7.51x 11.87x 10.59x - -
EBITDA 317.97 Long-Term Rating Date -
EBIT 174.46 Long-Term Rating -
Operating Margin 29.12% Long-Term Outlook -
Pretax Margin 71.16% Short-Term Rating Date -
Return on Assets 5.03% Short-Term Rating -
Return on Common Equity 9.06%
Return on Capital 6.50% EBITDA/Interest Exp. 4.52
Asset Turnover 0.10% (EBITDA-Capex)/Interest Exp. -4.96
Net Debt/EBITDA 4.49
Gross Margin 43.2% Total Debt/EBITDA 6.65
EBITDA Margin 53.0%
EBIT Margin 30.4% Total Debt/Equity 63.7%
Net Income Margin 64.9% Total Debt/Capital 37.3%
Asset Turnover 0.10
Current Ratio 1.06 Net Fixed Asset Turnover 0.20
Quick Ratio 0.83 Accounts receivable turnover-days 49.86
Debt to Assets 35.72% Inventory Days 9.86
Tot Debt to Common Equity 63.73% Accounts Payable Turnover Day 86.02
Accounts Receivable Turnover 7.34 Cash Conversion Cycle 15.50
Inventory Turnover 37.12
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
COSCO Pacific LtdPrice/Volume
Valuation Analysis
5'701'158.00
Current Price (2/dd/yy) Market Data
!.135
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100.0
150.0
200.0
250.0
300.0
350.0
400.0
450.0
500.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA COSCO HOLDINGS n/a EXCH 1'158'303'338 42.71 - 12.05.2010 Government
JP MORGAN CHASE & CO n/a EXCH 271'656'048 10.02 1'632'000 07.12.2011 Investment Advisor
UBS AG n/a EXCH 108'395'401 4 - 10.05.2010 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 59'065'720 2.18 86'566 31.12.2011 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 36'023'257 1.33 (374'000) 31.12.2011 Investment Advisor
JANUS CAPITAL MANAGE Multiple Portfolios MF-AGG 32'541'770 1.2 32'541'770 30.09.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 24'982'000 0.92 18'000 08.03.2012 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 21'130'000 0.78 1'130'000 31.01.2012 Investment Advisor
DWS INVESTMENT SA Multiple Portfolios MF-AGG 19'050'000 0.7 940'000 31.01.2012 Mutual Fund Manager
STATE STREET GLOBAL Multiple Portfolios MF-AGG 14'546'221 0.54 167'446 30.06.2011 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 13'182'000 0.49 (292'000) 30.09.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 11'324'000 0.42 - 30.09.2011 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 9'880'000 0.36 364'000 31.05.2011 Mutual Fund Manager
FIDELITY INTERNATION Multiple Portfolios MF-AGG 9'507'813 0.35 (57'722'679) 30.12.2011 Investment Advisor
STATE STREET CORP Multiple Portfolios MF-AGG 9'395'511 0.35 - 08.03.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 8'637'552 0.32 (12'000) 08.03.2012 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios MF-AGG 8'130'000 0.3 - 31.12.2010 Mutual Fund Manager
FRANK RUSSELL TRUST Multiple Portfolios MF-AGG 7'883'633 0.29 2'489'289 31.12.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 7'654'000 0.28 7'578'000 31.01.2012 Investment Advisor
SUMITOMO MITSUI ASSE Multiple Portfolios MF-AGG 7'242'000 0.27 (500'000) 30.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura JIM WONG buy 5 M 15 Not Provided 09.03.2012
Jefferies BOYONG LIU buy 5 M 15 12 month 06.03.2012
Goldman Sachs SIMON CHEUNG Buy/Neutral 5 M 15 12 month 27.02.2012
Morgan Stanley EDWARD XU Overwt/In-Line 5 M 15 12 month 22.02.2012
RBS OSBERT TANG buy 5 M 14 12 month 15.02.2012
Deutsche Bank MICHAEL LEE buy 5 M 14 12 month 13.02.2012
China International Capital Corp YANG XIN hold 3 M 8 12 month 06.02.2012
CLSA Asia Pacific Markets PHILIP CHOW buy 5 M 12 Not Provided 20.01.2012
JPMorgan KAREN LI overweight 5 M 14 9 month 19.01.2012
DBS Vickers KEN HE buy 5 M 13 12 month 17.01.2012
Citic Securities Co., Ltd SIMON YEUNG overweight 5 M 11 6 month 17.01.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 11 Not Provided 17.01.2012
HSBC PARASH JAIN overweight 5 M 13 Not Provided 13.01.2012
UOB Kay Hian LAWRENCE LI buy 5 M 14 Not Provided 05.12.2011
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 30.11.2011
Citi VIVIAN WEI TAO buy 5 N 11 Not Provided 29.11.2011
Religare Capital Markets PETER WILLIAMSON buy 5 M 13 12 month 22.11.2011
Guotai Junan JASON SONG accumulate 4 M 14 Not Provided 28.10.2011
Standard Chartered CLAIRE TENG in-line 3 M 11 12 month 26.10.2011
Credit Suisse INGRID WEI outperform 5 M 15 Not Provided 26.10.2011
Barclays Capital JON WINDHAM overwt/neutral 5 M 14 Not Provided 11.10.2011
Haitong International Securities CHO FOOK TAT buy 5 M 18 12 month 24.06.2011
China Merchants Securities YU HUANGYAN outperform 5 M 8 Not Provided 23.02.2009
Holdings By:
COSCO Pacific Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Esprit Holdings Limited, through its subsidiaries, designs, licenses, sources,
wholesales, and retails high quality life-style products under the ESPRIT brand
name in Europe, Asia Pacific and North America. The Company also sells Red
Earth cosmetics, skin, and body care products and operates Salon Esprit in Asia
Pacific.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (05.03.2012) 18.22
52-Week Low (25.07.2012) 8.13
Daily Volume
10.1
52-Week High % Change -44.57% Dividend Yield 1.37
52-Week Low % Change 24.18% Beta 1.29
% 52 Week Price Range High/Low 20.29% Equity Float 1'775.97
Shares Out 22.01.2013 1'939.1 Short Int -
19'584.65 1 Yr Total Return -34.76%
Total Debt 1'682.00 YTD Return -5.96%
Preferred Stock 0.0 Adjusted BETA 1.293
Minority Interest 0.0 Analyst Recs 22
Cash and Equivalents 3'171.00 Consensus Rating 2.000
Enterprise Value 14'610.65
Average Volume 5 Day 10'593'820
330 HK EQUITY YTD Change - Average Volume 30 Day 8'228'900
330 HK EQUITY YTD % CHANGE - Average Volume 3 Month 12'022'070
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y 09/11 Q1 12/11 Q2
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 26'937.9 28'399.4 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 0.58x 0.57x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 442.4 1'185.6 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 33.03x 12.32x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - (269.8) 469.3 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - - 35.07x - -
EBITDA 1'850.00 Long-Term Rating Date -
EBIT 1'107.00 Long-Term Rating -
Operating Margin 3.67% Long-Term Outlook -
Pretax Margin 3.85% Short-Term Rating Date -
Return on Assets -0.54% Short-Term Rating -
Return on Common Equity -0.80%
Return on Capital -0.93% EBITDA/Interest Exp. 50.00
Asset Turnover 1.00% (EBITDA-Capex)/Interest Exp. 11.62
Net Debt/EBITDA -5.59
Gross Margin 50.4% Total Debt/EBITDA 2.03
EBITDA Margin 3.3%
EBIT Margin 0.2% Total Debt/Equity 10.8%
Net Income Margin 2.9% Total Debt/Capital 9.7%
Asset Turnover 1.00
Current Ratio 1.69 Net Fixed Asset Turnover 6.12
Quick Ratio 0.90 Accounts receivable turnover-days 37.96
Debt to Assets 7.10% Inventory Days 111.03
Tot Debt to Common Equity 10.78% Accounts Payable Turnover Day 25.82
Accounts Receivable Turnover 9.64 Cash Conversion Cycle 94.26
Inventory Turnover 3.30
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Esprit Holdings LtdPrice/Volume
Valuation Analysis
17'958'513.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
LONE PINE CAPITAL LL n/a EXCH 131'116'400 10.16 - 01.03.2012 Hedge Fund Manager
MARATHON ASSET MANAG n/a EXCH 91'176'424 7.07 - 07.02.2012 Investment Advisor
BLACKROCK INC n/a EXCH 67'941'291 5.26 - 22.11.2011 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 64'409'136 4.99 - 22.12.2011 Investment Advisor
MASSACHUSETTS FINANC n/a EXCH 64'245'960 4.98 - 13.01.2011 Investment Advisor
CAPITAL WORLD INVEST n/a EXCH 63'329'677 4.91 - 18.05.2011 Investment Advisor
BANK OF NEW YORK MEL n/a EXCH 63'298'839 4.91 - 21.09.2011 Investment Advisor
ALLIANCEBERNSTEIN LP n/a EXCH 57'993'583 4.49 - 03.10.2011 Investment Advisor
FRIEDRICH JURGEN ALF n/a EXCH 45'053'669 3.49 - 05.12.2011 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 16'452'002 1.27 (4'118'838) 31.12.2011 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 16'416'700 1.27 1'940'000 30.12.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 14'326'296 1.11 (1'195'800) 31.12.2011 Investment Advisor
UNION INVESTMENT GMB Multiple Portfolios MF-AGG 12'063'094 0.93 384'800 31.03.2011 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 11'791'285 0.91 51'800 30.11.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 11'527'343 0.89 711'484 30.06.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 10'407'900 0.81 (12'600) 08.03.2012 Investment Advisor
COMGEST GROWTH PLC Multiple Portfolios MF-AGG 10'000'000 0.77 - 30.06.2011 Investment Advisor
MFS INVESTMENT MANAG Multiple Portfolios MF-AGG 7'296'053 0.57 1'695'800 30.12.2011 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 6'672'670 0.52 (360'199) 09.03.2012 Investment Advisor
BLACKROCK INC n/a Short (6'567'677) -0.51 - 22.11.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale ANNE CRITCHLOW hold 3 M 18 12 month 08.03.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 05.03.2012
Jyske Bank ROBERT JAKOBSEN strong buy 5 M 22 Not Provided 29.02.2012
Standard Chartered EMILY LEE underperform 1 D 15 12 month 24.02.2012
Credit Suisse GABRIEL CHAN underperform 1 M 13 Not Provided 24.02.2012
Macquarie GARY PINGE outperform 5 M 24 12 month 24.02.2012
DBS Vickers ALICE HUI hold 3 M 15 12 month 24.02.2012
Mizuho Securities PETER TANG neutral 3 M 19 12 month 24.02.2012
UOB Kay Hian TOMMY HO hold 3 M 20 Not Provided 24.02.2012
Religare Capital Markets PETER WILLIAMSON buy 5 M 23 12 month 24.02.2012
CLSA Asia Pacific Markets AARON FISCHER underperform 1 U 18 Not Provided 24.02.2012
Deutsche Bank ANNE LING hold 3 M 20 12 month 23.02.2012
Morgan Stanley ANGELA MOH Equalwt/In-Line 3 M 14 12 month 23.02.2012
JPMorgan KURUMLU EBRU SENER neutral 3 U 20 3 month 23.02.2012
Citi EDDIE K LAU sell 1 D 14 Not Provided 23.02.2012
Nomura TANUJ SHORI neutral 3 M 17 Not Provided 23.02.2012
Barclays Capital VINEET SHARMA underwt/neutral 1 M 13 Not Provided 23.02.2012
Goldman Sachs JOSHUA LU neutral/neutral 3 M 12 12 month 20.10.2011
Haitong International Securities WINNIE FONG buy 5 U 35 12 month 06.05.2011
CIMB TEAM COVERAGE neutral 3 M 48 12 month 16.09.2010
Holdings By:
Esprit Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Hang Lung Properties Limited, through its subsidiaries, invests in, develops,
and manages properties. The Company also manages parking lots.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (10.01.2013) 31.65
52-Week Low (04.06.2012) 23.80
Daily Volume
29.4
52-Week High % Change -7.11% Dividend Yield 2.52
52-Week Low % Change 23.53% Beta 1.12
% 52 Week Price Range High/Low 69.43% Equity Float 2'391.87
Shares Out 31.12.2012 4'476.6 Short Int -
131'611.05 1 Yr Total Return 4.19%
Total Debt 29'736.00 YTD Return -4.55%
Preferred Stock 0.0 Adjusted BETA 1.117
Minority Interest 6'050.0 Analyst Recs 22
Cash and Equivalents 36'025.00 Consensus Rating 4.091
Enterprise Value 131'372.04
Average Volume 5 Day 5'537'255
101 HK EQUITY YTD Change - Average Volume 30 Day 6'712'763
101 HK EQUITY YTD % CHANGE - Average Volume 3 Month 6'714'372
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 11'314.2 12'773.6 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 11.77x 10.51x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 8'260.1 9'329.6 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 15.90x 14.08x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 6'346.9 7'155.4 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 20.60x 18.35x - -
EBITDA 7'299.00 Long-Term Rating Date -
EBIT 7'264.00 Long-Term Rating -
Operating Margin 98.53% Long-Term Outlook -
Pretax Margin 137.94% Short-Term Rating Date -
Return on Assets 5.37% Short-Term Rating -
Return on Common Equity 7.38%
Return on Capital 6.44% EBITDA/Interest Exp. 10.50
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -12.24
Net Debt/EBITDA -0.86
Gross Margin - Total Debt/EBITDA 4.07
EBITDA Margin 99.0%
EBIT Margin 98.5% Total Debt/Equity 25.2%
Net Income Margin 113.9% Total Debt/Capital 19.3%
Asset Turnover 0.05
Current Ratio 6.94 Net Fixed Asset Turnover 0.06
Quick Ratio 5.71 Accounts receivable turnover-days 3.32
Debt to Assets 17.71% Inventory Days -
Tot Debt to Common Equity 25.22% Accounts Payable Turnover Day -
Accounts Receivable Turnover 165.66 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Hang Lung Properties LtdPrice/Volume
Valuation Analysis
6'179'423.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PROSPERLAND HOUSING n/a EXCH 1'267'523'511 28.34 - 31.12.2011 Other
PUROTAT LTD n/a EXCH 354'227'500 7.92 - 31.12.2011 Other
JP MORGAN CHASE & CO n/a Co File 223'578'933 5 - 30.06.2011 Investment Advisor
ARTIO GLOBAL MANAGEM n/a EXCH 222'586'000 4.98 - 12.01.2011 Investment Advisor
HANG LUNG INVESTMENT n/a EXCH 183'176'000 4.09 - 31.12.2011 Investment Advisor
HANG LUNG ENTERPRISE n/a EXCH 169'225'000 3.78 - 31.12.2011 Other
BELIEVECITY LTD n/a EXCH 120'608'945 2.7 - 31.12.2011 Other
JANUS CAPITAL MANAGE Multiple Portfolios MF-AGG 100'601'654 2.25 (34'210'730) 31.12.2011 Investment Advisor
COKAGE LTD n/a EXCH 95'118'250 2.13 - 31.12.2011 Other
CARMIGNAC GESTION Multiple Portfolios MF-AGG 94'167'296 2.11 (347'774) 30.09.2011 Investment Advisor
HANG KONG CO LTD n/a EXCH 73'182'000 1.64 - 31.12.2011 Other
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 54'073'000 1.21 12'282'000 31.12.2011 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 51'037'450 1.14 - 29.12.2011 Investment Advisor
THIRD AVENUE MANAGEM Multiple Portfolios MF-AGG 39'870'000 0.89 8'425'000 31.10.2011 Hedge Fund Manager
EUROPEAN INVESTORS I n/a Research 37'607'233 0.84 1'780'000 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 37'401'736 0.84 (40'000) 08.03.2012 Investment Advisor
ABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 35'102'862 0.78 1'760'000 31.01.2012 Investment Advisor
DODGE & COX Multiple Portfolios MF-AGG 31'964'000 0.71 - 31.12.2011 Investment Advisor
KINGSWICK INVESTMENT n/a EXCH 28'333'100 0.63 - 31.12.2011 Investment Advisor
ALLIANCEBERNSTEIN LP Multiple Portfolios MF-AGG 27'849'000 0.62 457'000 31.01.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Mirae Asset Securities KEITH YEUNG hold 3 D 31 12 month 22.02.2012
Standard Chartered JOHN Y F CHAN outperform 5 M 30 12 month 18.02.2012
JPMorgan AMY LUK neutral 3 M 28 12 month 16.02.2012
Credit Suisse CUSSON LEUNG underperform 1 M 21 Not Provided 13.02.2012
Nomura PAUL LOUIE neutral 3 M 28 Not Provided 13.02.2012
DBS Vickers JEFF YAU hold 3 M 27 12 month 27.01.2012
Morgan Stanley PRAVEEN K CHOUDHARY Underwt/In-Line 1 M 23 12 month 20.01.2012
Macquarie CALLUM BRAMAH outperform 5 M 33 12 month 20.01.2012
Bank of China International VENANT CHIANG buy 5 M 27 Not Provided 20.01.2012
UOB Kay Hian SYLVIA WONG hold 3 M 27 Not Provided 20.01.2012
CLSA Asia Pacific Markets SUSANNA LEUNG buy 5 M 30 Not Provided 20.01.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N #N/A N/A Not Provided 20.01.2012
Jefferies CHRISTIE JU buy 5 M 35 12 month 19.01.2012
Citi KEN YEUNG buy 5 M 33 Not Provided 19.01.2012
EVA Dimensions TEAM COVERAGE sell 1 N #N/A N/A Not Provided 09.01.2012
HSBC PERVEEN WONG neutral 3 M 24 Not Provided 08.01.2012
Barclays Capital ANDREW LAWRENCE underwt/negative 1 M 23 Not Provided 02.11.2011
Goldman Sachs ANTHONY WU buy/attractive 5 M 32 12 month 20.10.2011
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 18.10.2011
Daiwa Securities Capital Markets Co. JONAS KAN buy 5 M 34 Not Provided 27.09.2011
Haitong International Securities KATIE CHAN hold 3 M 33 12 month 04.08.2011
RBS FAN TSO hold 3 M 30 12 month 22.07.2011
Capital Securities Corp LANTIS LI buy 5 N 40 12 month 24.06.2011
Deutsche Bank TONY TSANG buy 5 M 42 12 month 26.11.2010
Holdings By:
Hang Lung Properties Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Hang Seng Bank Limited and its subsidiaries provide banking and related
financial services.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (14.02.2013) 129.00
52-Week Low (04.06.2012) 99.20
Daily Volume
123.6
52-Week High % Change -4.19% Dividend Yield 4.21
52-Week Low % Change 24.60% Beta 0.74
% 52 Week Price Range High/Low 79.19% Equity Float 723.76
Shares Out 30.06.2012 1'911.8 Short Int -
236'303.77 1 Yr Total Return 27.69%
Total Debt 52'432.00 YTD Return 4.13%
Preferred Stock 0.0 Adjusted BETA 0.735
Minority Interest 0.0 Analyst Recs 27
Cash and Equivalents 157'094.00 Consensus Rating 3.037
Enterprise Value -
Average Volume 5 Day 1'629'888
11 HK EQUITY YTD Change - Average Volume 30 Day 1'925'337
11 HK EQUITY YTD % CHANGE - Average Volume 3 Month 1'617'202
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
56'175.0 45'434.0 36'052.0 37'622.0 39'403.0 - - 24'466.0 26'984.5 - -
4.07x 3.01x 3.44x 3.69x 1.81x - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
18'242.0 14'099.0 13'138.0 14'917.0 16'680.0 - - 17'413.4 19'517.1 8'336.0 -
16.87x 13.80x 16.70x 16.38x 10.57x - - 13.43x 11.69x - -
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating AA-
Operating Margin 40.40% Long-Term Outlook STABLE
Pretax Margin 54.44% Short-Term Rating Date 20.07.2005
Return on Assets 1.81% Short-Term Rating A-1+
Return on Common Equity 22.59%
Return on Capital 13.39% EBITDA/Interest Exp. -
Asset Turnover 0.04% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 66.6%
Net Income Margin 47.3% Total Debt/Capital 40.0%
Asset Turnover 0.04
Current Ratio - Net Fixed Asset Turnover 2.42
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 5.38% Inventory Days -
Tot Debt to Common Equity 66.58% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Hang Seng Bank LtdPrice/Volume
Valuation Analysis
1'418'541.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HONGKONG & SHANGHAI n/a Co File 1'188'057'371 62.14 - 31.12.2010 Bank
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 12'613'600 0.66 (833'100) 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 10'457'000 0.55 (11'000) 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 7'285'057 0.38 211'802 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 6'836'400 0.36 76'898 30.06.2011 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 4'846'577 0.25 (693'100) 30.06.2011 Investment Advisor
PRUDENTIAL ASSET MGM Multiple Portfolios MF-AGG 2'412'900 0.13 - 06.10.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 2'393'077 0.13 (1'169'134) 31.01.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 1'415'600 0.07 (745'600) 26.10.2011 Investment Advisor
DAIWA SB INVESTMENTS Multiple Portfolios MF-AGG 1'364'400 0.07 - 27.09.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 1'253'588 0.07 (6'600) 08.03.2012 Investment Advisor
SUMITOMO MITSUI ASSE Multiple Portfolios MF-AGG 1'199'900 0.06 - 11.07.2012 Investment Advisor
ALLIANZ GLOBAL INV O Multiple Portfolios MF-AGG 1'095'500 0.06 1'094'900 29.02.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 941'288 0.05 (5'189'464) 30.12.2011 Investment Advisor
FORTIS INVESTMENTS Multiple Portfolios MF-AGG 879'330 0.05 530'241 31.10.2011 Mutual Fund Manager
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 867'465 0.05 (36'500) 08.03.2012 Investment Advisor
NEW JERSEY DIVISION Multiple Portfolios MF-AGG 785'600 0.04 (393'400) 31.12.2011 Pension Fund (ERISA)
BOSTON COMMON ASSET BOSTON COMMON ASSET 13F 726'161 0.04 28'220 31.12.2011 Investment Advisor
DAIWA ASSET MANAGEME Multiple Portfolios MF-AGG 693'200 0.04 (12'500) 30.11.2011 Investment Advisor
HIRTLE CALLAGHAN & C Multiple Portfolios MF-AGG 545'754 0.03 - 30.09.2011 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan JOSEPH LEUNG neutral 3 M 105 12 month 12.03.2012
Standard Chartered LAWRENCE CHEN outperform 5 M 118 12 month 06.03.2012
Morgan Stanley ANIL AGARWAL Underwt/Cautious 1 M 80 12 month 06.03.2012
Credit Suisse FRANCO LAM outperform 5 M 120 Not Provided 06.03.2012
Bank of China International MIMI KONG buy 5 M 118 Not Provided 06.03.2012
EVA Dimensions TEAM COVERAGE overweight 5 U #N/A N/A Not Provided 06.03.2012
Nomura DANIEL SHUM reduce 2 M 80 Not Provided 05.03.2012
Citic Securities Co., Ltd STEVEN CHAN sell 1 M 85 6 month 01.03.2012
Keefe, Bruyette & Woods WARREN BLIGHT market perform 3 M 108 12 month 29.02.2012
Sanford C. Bernstein & Co MIKE WERNER market perform 3 M 116 12 month 28.02.2012
DBS Vickers ALEXANDER LEE hold 3 M 105 12 month 28.02.2012
Kim Eng Securities IVAN LI buy 5 M 120 12 month 28.02.2012
China International Capital Corp SALLY NG hold 3 M 104 12 month 28.02.2012
BNP Paribas Equity Research DOMINIC CHAN buy 5 M 136 12 month 28.02.2012
UOB Kay Hian EDMOND LAW buy 5 M 118 Not Provided 28.02.2012
Core Pacific LI TIMOTHY hold 3 M 107 Not Provided 28.02.2012
CLSA Asia Pacific Markets KEVIN CHAN underperform 1 M 97 Not Provided 28.02.2012
Deutsche Bank SOPHIA LEE buy 5 M 120 12 month 27.02.2012
Citi GARY LAM neutral 3 M 108 Not Provided 27.02.2012
Macquarie ISMAEL PILI underperform 1 M 90 12 month 27.02.2012
Daiwa Securities Capital Markets Co. GRACE WU buy 5 M 125 Not Provided 27.02.2012
CCB International Securities Ltd ADAM CHAN outperform 5 M 118 Not Provided 27.02.2012
Barclays Capital SHARNIE WONG underwt/neutral 1 D 92 Not Provided 13.02.2012
Goldman Sachs VINCENT CHANG neutral/neutral 3 M 109 12 month 01.02.2012
Mizuho Securities JIM ANTOS buy 5 N 114 12 month 30.11.2011
Mirae Asset Securities PATRICK PONG buy 5 M 120 12 month 30.11.2011
Holdings By:
Hang Seng Bank Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Henderson Land Development Company Limited, through its subsidiaries, develops,
invests in, and manages properties. The Company also provides project
management, construction, and finance services. In addition, Henderson Land
Development operates department stores, hotels and infrastructure business.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (18.01.2013) 59.90
52-Week Low (18.05.2012) 37.00
Daily Volume
53.45
52-Week High % Change -10.77% Dividend Yield 1.91
52-Week Low % Change 44.46% Beta 1.05
% 52 Week Price Range High/Low 68.78% Equity Float 885.42
Shares Out 16.10.2012 2'414.8 Short Int -
129'073.34 1 Yr Total Return 13.91%
Total Debt 55'740.00 YTD Return -2.29%
Preferred Stock 0.0 Adjusted BETA 1.051
Minority Interest 4'589.0 Analyst Recs 23
Cash and Equivalents 18'850.00 Consensus Rating 4.043
Enterprise Value 170'063.34
Average Volume 5 Day 3'819'839
12 HK EQUITY YTD Change - Average Volume 30 Day 4'083'166
12 HK EQUITY YTD % CHANGE - Average Volume 3 Month 3'561'501
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2007 30.06.2008 30.06.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y 09/11 Q3 12/11 Q4
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 15'198.3 20'519.3 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 10.99x 8.02x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 5'469.2 7'033.1 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 31.09x 24.18x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 7'465.8 7'806.5 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 17.44x 16.47x - -
EBITDA 4'326.00 Long-Term Rating Date 06.07.2005
EBIT 4'126.00 Long-Term Rating NR
Operating Margin 27.17% Long-Term Outlook -
Pretax Margin 124.97% Short-Term Rating Date -
Return on Assets 6.28% Short-Term Rating -
Return on Common Equity 8.73%
Return on Capital 7.16% EBITDA/Interest Exp. 2.70
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. 2.40
Net Debt/EBITDA 11.19
Gross Margin 44.6% Total Debt/EBITDA 14.83
EBITDA Margin 27.7%
EBIT Margin 25.9% Total Debt/Equity 30.1%
Net Income Margin 113.1% Total Debt/Capital 22.7%
Asset Turnover 0.05
Current Ratio 3.40 Net Fixed Asset Turnover 0.13
Quick Ratio 0.70 Accounts receivable turnover-days 150.66
Debt to Assets 21.24% Inventory Days 3886.62
Tot Debt to Common Equity 30.08% Accounts Payable Turnover Day 76.12
Accounts Receivable Turnover 2.43 Cash Conversion Cycle 2771.90
Inventory Turnover 0.09
Fiscal Year Ended
Henderson Land Development Co LtdPrice/Volume
Valuation Analysis
3'005'804.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HENDERSON DEVELOPMEN n/a EXCH 698'976'789 29.51 - 20.01.2012 Corporation
BELIEVEGOOD LTD n/a EXCH 370'379'416 15.64 1'085'000 20.01.2012 Other
CAMERON ENTERPRISE I n/a EXCH 179'543'353 7.58 - 20.01.2012 Other
THIRD AVENUE MANAGEM n/a EXCH 118'324'035 4.99 - 08.12.2011 Hedge Fund Manager
PROSGLASS INVESTMENT n/a EXCH 73'964'970 3.12 - 20.01.2012 Investment Advisor
FANCY EYE LTD n/a EXCH 68'060'406 2.87 - 20.01.2012 Other
SPREADRAL LTD n/a EXCH 56'912'301 2.4 - 20.01.2012 Other
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 23'397'505 0.99 3'685'823 31.01.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 15'919'317 0.67 (20'000) 08.03.2012 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 14'353'700 0.61 (1'445'000) 30.06.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 13'785'523 0.58 10'295'758 30.12.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 10'907'070 0.46 (157'625) 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 8'753'382 0.37 (814'920) 30.06.2011 Investment Advisor
SANDRA INVESTMENT LT n/a EXCH 8'238'934 0.35 - 30.06.2011 Investment Advisor
SHAU KEE LEE n/a EXCH 7'521'743 0.32 - 20.01.2012 n/a
MANULIFE ASSET MANAG Multiple Portfolios MF-AGG 5'937'254 0.25 - 30.12.2011 Investment Advisor
HONG KONG AND CHINA n/a EXCH 5'602'600 0.24 - 01.12.2011 Corporation
SUPERFUN ENTERPRISES n/a EXCH 5'602'600 0.24 - 20.01.2012 Other
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 4'896'323 0.21 (3'000) 08.03.2012 Investment Advisor
PUTNAM INVESTMENT MA Multiple Portfolios MF-AGG 4'473'201 0.19 (1'000) 30.09.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BOCOM International Holdings ALFRED LAU neutral 3 M 44 12 month 27.02.2012
Mirae Asset Securities KEITH YEUNG reduce 2 D 42 12 month 22.02.2012
Macquarie DAVID NG outperform 5 M 53 12 month 21.02.2012
Standard Chartered PAUL YAU in-line 3 M 52 12 month 18.02.2012
UOB Kay Hian SYLVIA WONG hold 3 M 52 Not Provided 17.02.2012
JPMorgan LUCIA KWONG neutral 3 M 52 12 month 16.02.2012
Nomura PAUL LOUIE buy 5 M 62 Not Provided 13.02.2012
Credit Suisse CUSSON LEUNG neutral 3 M 45 Not Provided 09.02.2012
EVA Dimensions TEAM COVERAGE underweight 1 M #N/A N/A Not Provided 31.01.2012
DBS Vickers JEFF YAU hold 3 M 41 12 month 27.01.2012
CLSA Asia Pacific Markets NICOLE WONG underperform 1 M 41 Not Provided 09.01.2012
HSBC DEREK KWONG overweight 5 M 56 Not Provided 08.01.2012
Daiwa Securities Capital Markets Co. JONAS KAN buy 5 M 57 Not Provided 04.01.2012
Citi KEN YEUNG buy 5 M 52 Not Provided 09.11.2011
Barclays Capital ANDREW LAWRENCE equalwt/negative 3 U 37 Not Provided 02.11.2011
Goldman Sachs ANTHONY WU neutral/attractive 3 M 45 12 month 20.10.2011
Kim Eng Securities IVAN CHEUNG buy 5 M 57 12 month 29.08.2011
CCB International Securities Ltd EDMOND CHAN neutral 3 M 44 Not Provided 26.08.2011
RBS FAN TSO buy 5 M 65 12 month 24.05.2011
Deutsche Bank TONY TSANG not rated #N/A N/A M #N/A N/A Not Provided 01.03.2011
Holdings By:
Henderson Land Development Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Hengan International Group Company Limited, through its subsidiaries,
manufactures and sells personal hygiene products such as sanitary napkins and
disposable baby diapers in China. The Company's products are sold under the
Anerle brand name.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (20.04.2012) 83.45
52-Week Low (14.12.2012) 67.00
Daily Volume
78.3
52-Week High % Change -6.17% Dividend Yield 1.92
52-Week Low % Change 16.87% Beta 0.57
% 52 Week Price Range High/Low 66.57% Equity Float 722.34
Shares Out 30.06.2012 1'229.0 Short Int -
96'232.88 1 Yr Total Return 16.81%
Total Debt 7'218.36 YTD Return 11.94%
Preferred Stock 0.0 Adjusted BETA 0.575
Minority Interest 377.3 Analyst Recs 31
Cash and Equivalents 8'258.20 Consensus Rating 3.968
Enterprise Value 98'383.68
Average Volume 5 Day 2'337'121
1044 HK EQUITY YTD Change - Average Volume 30 Day 2'851'019
1044 HK EQUITY YTD % CHANGE - Average Volume 3 Month 2'977'116
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 19'524.8 23'727.0 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 4.94x 4.06x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 5'033.5 6'006.3 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 19.55x 16.38x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 3'489.2 4'175.0 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 27.54x 23.04x - -
EBITDA 3'559.63 Long-Term Rating Date -
EBIT 3'116.26 Long-Term Rating -
Operating Margin 18.28% Long-Term Outlook -
Pretax Margin 19.09% Short-Term Rating Date -
Return on Assets 13.14% Short-Term Rating -
Return on Common Equity 25.67%
Return on Capital 15.76% EBITDA/Interest Exp. 25.00
Asset Turnover 0.76% (EBITDA-Capex)/Interest Exp. 7.95
Net Debt/EBITDA 0.41
Gross Margin 39.9% Total Debt/EBITDA 2.04
EBITDA Margin 24.8%
EBIT Margin 22.1% Total Debt/Equity 58.5%
Net Income Margin 15.5% Total Debt/Capital 36.2%
Asset Turnover 0.76
Current Ratio 1.37 Net Fixed Asset Turnover 2.21
Quick Ratio 1.01 Accounts receivable turnover-days 31.69
Debt to Assets 30.95% Inventory Days 107.29
Tot Debt to Common Equity 58.49% Accounts Payable Turnover Day 47.06
Accounts Receivable Turnover 11.55 Cash Conversion Cycle 80.56
Inventory Turnover 3.41
Fiscal Year Ended
Hengan International Group Co LtdPrice/Volume
Valuation Analysis
2'093'982.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TIN LEE INVESTMENTS n/a EXCH 228'228'999 18.57 - 21.07.2011 Investment Advisor
AN PING INVESTMENTS n/a EXCH 224'669'751 18.28 - 21.07.2011 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 73'026'911 5.94 - 20.06.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 42'143'500 3.43 - 31.12.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 27'293'641 2.22 103'576 31.12.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 19'480'990 1.59 (125'489) 31.01.2012 Investment Advisor
SKYFUL HOLDINGS LTD n/a EXCH 17'270'000 1.41 - 21.07.2011 n/a
CHUN MAN XU n/a EXCH 16'167'445 1.32 - 18.07.2011 n/a
FIDELITY INTERNATION Multiple Portfolios MF-AGG 13'422'154 1.09 9'024'867 30.12.2011 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 13'347'000 1.09 (834'000) 30.12.2011 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 10'846'000 0.88 - 31.10.2011 Mutual Fund Manager
GO-AHEAD GROUP LTD n/a EXCH 10'000'000 0.81 - 21.07.2011 n/a
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 9'421'000 0.77 (3'873'000) 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 9'145'500 0.74 6'500 08.03.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 8'186'021 0.67 - 30.09.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 7'075'180 0.58 7'075'180 30.06.2011 Investment Advisor
CHING SHAN HUNG n/a EXCH 7'000'000 0.57 - 18.07.2011 n/a
WAN LI CO LTD n/a EXCH 7'000'000 0.57 - 21.07.2011 n/a
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 6'963'900 0.57 772'500 29.07.2011 Mutual Fund Manager
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 6'066'500 0.49 (500'000) 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TEAM COVERAGE underweight 1 U #N/A N/A Not Provided 05.03.2012
Guotai Junan SUNNY KWOK accumulate 4 M 75 Not Provided 23.02.2012
Goldman Sachs LISA DENG neutral/neutral 3 M 71 12 month 21.02.2012
JPMorgan JESSICA HONG underweight 1 M 51 9 month 20.02.2012
Kim Eng Securities JACQUELINE KO sell 1 N 61 12 month 20.02.2012
BOCOM International Holdings SUMMER WANG buy 5 M 89 12 month 16.02.2012
SWS Research Co Ltd SEAN ZHANG outperform 5 M 76 Not Provided 09.02.2012
CLSA Asia Pacific Markets DAWEI FENG buy 5 M 88 Not Provided 08.02.2012
Credit Suisse KEVIN YIN outperform 5 M 73 Not Provided 07.02.2012
BNP Paribas Equity Research JESSICA LE buy 5 M 82 12 month 07.02.2012
UOB Kay Hian TOMMY HO hold 3 M 77 Not Provided 02.02.2012
Deutsche Bank MABEL WONG buy 5 M 75 12 month 16.12.2011
Standard Chartered JUNTUNG WU in-line 3 M 65 12 month 14.12.2011
Citi JASMINE BAI buy 5 M 78 Not Provided 13.12.2011
Capital Securities Corp LANTIS LI strong buy 5 M 96 12 month 05.12.2011
HSBC WALDEN SHING neutral 3 U 75 Not Provided 23.11.2011
First Shanghai Securities Ltd WANG SHIZHEN hold 3 D 68 12 month 09.09.2011
Barclays Capital VINEET SHARMA overwt/neutral 5 M 69 Not Provided 06.09.2011
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 05.09.2011
Macquarie GARY PINGE neutral 3 M 60 12 month 31.08.2011
DBS Vickers PATRICIA YEUNG hold 3 M 69 12 month 31.08.2011
China International Capital Corp LUO WEI buy 5 M 72 12 month 31.08.2011
Citic Securities Co., Ltd ERIC NG sell 1 D 54 6 month 31.08.2011
Mirae Asset Securities SELINA SIA hold 3 D 60 12 month 31.08.2011
ICBC International Securities CARRIE CHAN hold 3 M 74 Not Provided 31.08.2011
RBS LEI YANG buy 5 M 71 12 month 30.08.2011
Ji Asia WU GONGLIANG sell 1 M 53 12 month 11.05.2011
Industrial Securities LUO YAMEI buy 5 N #N/A N/A Not Provided 03.08.2010
Holdings By:
Hengan International Group Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Hong Kong and China Gas Company Limited produces, distributes, and markets gas
and gas appliances to residential and industrial customers through its Towngas
brand name. The Company's subsidiaries develop gas projects in China and
develop and manage commercial properties.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (04.02.2013) 22.50
52-Week Low (13.06.2012) 16.02
Daily Volume
21.5
52-Week High % Change -4.44% Dividend Yield 1.53
52-Week Low % Change 34.21% Beta 0.57
% 52 Week Price Range High/Low 84.57% Equity Float 5'059.41
Shares Out 30.06.2012 8'690.6 Short Int -
186'848.11 1 Yr Total Return 27.67%
Total Debt 27'297.30 YTD Return 1.65%
Preferred Stock 0.0 Adjusted BETA 0.570
Minority Interest 4'748.1 Analyst Recs 22
Cash and Equivalents 12'049.20 Consensus Rating 2.682
Enterprise Value 211'173.51
Average Volume 5 Day 7'826'063
3 HK EQUITY YTD Change - Average Volume 30 Day 6'236'475
3 HK EQUITY YTD % CHANGE - Average Volume 3 Month 5'740'550
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
14'225.5 12'352.2 12'351.8 19'375.4 22'426.8 - - 26'046.2 29'394.7 - -
10.38x 6.59x 11.27x 7.55x 7.23x - - 7.92x 6.97x - -
5'850.0 4'376.3 4'713.5 5'853.2 7'089.3 - - 8'532.6 9'368.1 - -
25.24x 18.61x 29.54x 25.00x 22.88x - - 24.75x 22.54x - -
9'269.6 4'302.5 5'275.1 5'584.8 6'149.6 - - 6'860.6 7'452.9 - -
15.62x 18.14x 24.78x 23.55x 23.14x - - 26.32x 24.57x - -
EBITDA 7'089.30 Long-Term Rating Date 23.07.2008
EBIT 5'778.30 Long-Term Rating A+
Operating Margin 25.77% Long-Term Outlook STABLE
Pretax Margin 35.98% Short-Term Rating Date -
Return on Assets 8.35% Short-Term Rating -
Return on Common Equity 17.26%
Return on Capital 11.44% EBITDA/Interest Exp. 7.58
Asset Turnover 0.29% (EBITDA-Capex)/Interest Exp. 2.62
Net Debt/EBITDA 2.61
Gross Margin - Total Debt/EBITDA 4.07
EBITDA Margin 30.5%
EBIT Margin 24.7% Total Debt/Equity 65.6%
Net Income Margin 27.4% Total Debt/Capital 37.1%
Asset Turnover 0.29
Current Ratio 1.49 Net Fixed Asset Turnover 0.71
Quick Ratio 1.11 Accounts receivable turnover-days 35.78
Debt to Assets 32.08% Inventory Days -
Tot Debt to Common Equity 65.64% Accounts Payable Turnover Day -
Accounts Receivable Turnover 10.23 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Hong Kong & China Gas Co LtdPrice/Volume
Valuation Analysis
5'801'972.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DISRALEI INVESTMENT n/a EXCH 1'696'927'906 21.48 - 07.06.2011 n/a
MACROSTAR INVESTMENT n/a EXCH 744'507'546 9.42 - 07.06.2011 n/a
MEDLEY INVESTMENT n/a EXCH 708'953'821 8.97 - 07.06.2011 n/a
FIRST STATE INVESTME Multiple Portfolios MF-AGG 276'329'066 3.5 - 31.10.2011 Investment Advisor
FIRST STATE INVEST I n/a EXCH 196'486'096 2.49 - 05.03.2012 n/a
FIRST STATE INVESTME Multiple Portfolios MF-AGG 119'237'579 1.51 - 31.10.2011 Mutual Fund Manager
FU SANG CO LTD n/a EXCH 117'830'414 1.49 - 07.06.2011 n/a
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 107'928'672 1.37 - 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 70'625'251 0.89 (80'000) 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 47'054'576 0.6 1'310'000 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 42'376'761 0.54 495'618 30.06.2011 Investment Advisor
COLONIAL FIRST STATE n/a EXCH 32'611'556 0.41 - 05.03.2012 Investment Advisor
SKANDIA GLOBAL FUNDS Multiple Portfolios MF-AGG 22'440'563 0.28 - 31.10.2011 Mutual Fund Manager
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 22'424'638 0.28 (691'000) 30.12.2011 Investment Advisor
LI KWOK PO n/a EXCH 22'022'000 0.28 - 07.06.2011 n/a
LAZARD GLOBAL ACTIVE Multiple Portfolios MF-AGG 19'671'162 0.25 134'695 31.01.2012 Investment Advisor
FIRST STATE INVEST S n/a EXCH 15'984'133 0.2 - 05.03.2012 n/a
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 12'494'182 0.16 2'734'000 08.03.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 10'522'636 0.13 (42'000) 08.03.2012 Investment Advisor
MACQUARIE INVESTMENT Multiple Portfolios MF-AGG 6'560'171 0.08 - 30.06.2011 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 02.03.2012
Sanford C. Bernstein & Co MICHAEL W PARKER underperform 1 M 14 12 month 29.02.2012
Deutsche Bank ERIC CHENG hold 3 M 17 12 month 20.02.2012
Macquarie ADAM WORTHINGTON neutral 3 D 20 12 month 19.01.2012
RBS JENNY COSGROVE sell 1 N 15 12 month 10.01.2012
Jefferies JOSEPH FONG buy 5 M 21 12 month 15.12.2011
Citi PIERRE LAU sell 1 M 15 Not Provided 17.10.2011
Goldman Sachs FRANKLIN CHOW Sell/Neutral 1 M 15 12 month 01.09.2011
Morgan Stanley VINCENT CHOW Equalwt/In-Line 3 M 17 12 month 26.08.2011
Credit Suisse EDWIN PANG underperform 1 M 16 Not Provided 24.08.2011
Bank of China International PETER YAO sell 1 D 16 Not Provided 24.08.2011
DBS Vickers WEE KEAT LEE buy 5 U 20 12 month 24.08.2011
UOB Kay Hian YAN SHI hold 3 M 18 Not Provided 24.08.2011
Mirae Asset Securities RICKY NG buy 5 M 22 12 month 24.08.2011
Nomura IVAN LEE reduce 2 M 15 Not Provided 23.08.2011
JPMorgan ELAINE WU neutral 3 M 18 3 month 07.07.2011
Holdings By:
Hong Kong & China Gas Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Hong Kong Exchanges & Clearing Limited owns and operates the stock exchange,
futures exchange, and their related clearing houses in Hong Kong. The Company
provides the trading platforms for a range of cash and derivatives products and
the facilities for processing trades.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (17.01.2013) 150.70
52-Week Low (26.07.2012) 100.00
Daily Volume
137.8
52-Week High % Change -8.56% Dividend Yield 2.86
52-Week Low % Change 37.80% Beta 1.22
% 52 Week Price Range High/Low 74.56% Equity Float 1'085.42
Shares Out 31.12.2012 1'149.8 Short Int -
158'443.56 1 Yr Total Return 0.07%
Total Debt 0.00 YTD Return 4.47%
Preferred Stock 0.0 Adjusted BETA 1.217
Minority Interest 0.0 Analyst Recs 25
Cash and Equivalents 45'238.00 Consensus Rating 2.840
Enterprise Value 112'310.56
Average Volume 5 Day 4'662'749
388 HK EQUITY YTD Change - Average Volume 30 Day 4'299'237
388 HK EQUITY YTD % CHANGE - Average Volume 3 Month 5'527'362
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
6'090.4 5'996.7 6'639.0 6'870.0 5'984.0 6'639.0 6'870.0 8'862.9 9'824.9 - -
4.13x 19.77x 23.11x 12.88x - 72.95x 61.59x 16.25x 14.49x - -
4'898.8 5'023.2 5'126.0 5'710.0 - 5'577.0 5'602.0 6'444.4 7'210.8 - -
5.14x 23.60x 29.93x 15.50x - 27.51x 15.80x 17.43x 15.58x - -
5'128.6 4'704.0 5'037.0 5'093.0 4'084.0 5'037.0 5'093.0 5'315.5 5'818.9 1'096.0 1'173.0
15.40x 31.83x 37.67x 26.24x 35.17x 37.67x 26.24x 29.30x 26.83x 31.75x 31.04x
EBITDA 5'710.00 Long-Term Rating Date -
EBIT 5'620.00 Long-Term Rating -
Operating Margin 81.80% Long-Term Outlook -
Pretax Margin 87.80% Short-Term Rating Date -
Return on Assets 9.41% Short-Term Rating -
Return on Common Equity 51.91%
Return on Capital 51.91% EBITDA/Interest Exp. -
Asset Turnover 0.13% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -8.00
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin 79.0%
EBIT Margin 77.5% Total Debt/Equity 0.0%
Net Income Margin 68.2% Total Debt/Capital 0.0%
Asset Turnover 0.13
Current Ratio 1.17 Net Fixed Asset Turnover 6.60
Quick Ratio 1.16 Accounts receivable turnover-days 333.38
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 1.10 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Hong Kong Exchanges and Clearing LtdPrice/Volume
Valuation Analysis
6'482'534.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HONG KONG SAR n/a Co File 62'919'500 5.83 - 31.12.2010 Government
JP MORGAN CHASE & CO n/a EXCH 52'816'358 4.89 - 12.10.2010 Investment Advisor
DEUTSCHE BANK AG n/a EXCH 41'764'934 3.87 - 29.12.2011 Investment Advisor
DEUTSCHE BANK AG n/a Short (37'121'280) -3.44 - 29.12.2011 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 28'474'700 2.64 - 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 16'527'680 1.53 1'508'674 30.12.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 14'966'351 1.39 278'300 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 14'185'700 1.31 (15'000) 08.03.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 12'324'900 1.14 - 29.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 9'128'277 0.85 80'659 30.06.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 6'568'598 0.61 347'300 31.01.2012 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 6'121'700 0.57 84'500 30.12.2011 Investment Advisor
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 4'957'376 0.46 140'496 31.01.2012 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 4'879'500 0.45 (93'300) 30.06.2011 Investment Advisor
LAZARD GLOBAL ACTIVE Multiple Portfolios MF-AGG 4'004'800 0.37 27'000 31.01.2012 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios MF-AGG 3'553'000 0.33 - 31.12.2010 Mutual Fund Manager
MAN YIU CHOW n/a EXCH 3'297'194 0.31 - 15.01.2010 n/a
GARTMORE GROUP LTD Multiple Portfolios MF-AGG 2'303'400 0.21 - 31.01.2012 Investment Advisor
RCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 2'279'400 0.21 419'000 31.01.2012 Investment Advisor
ARTIO GLOBAL MANAGEM Multiple Portfolios MF-AGG 1'718'800 0.16 (572'300) 31.10.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
HSBC YORK PUN overweight 5 M 168 Not Provided 12.03.2012
Credit Suisse ARJAN VAN VEEN underperform 1 M 115 Not Provided 06.03.2012
Macquarie ANIEL MAHTANI underperform 1 M 124 12 month 01.03.2012
DBS Vickers ALEXANDER LEE fully valued 2 M 113 12 month 01.03.2012
Kim Eng Securities IVAN LI hold 3 M 165 12 month 01.03.2012
Mizuho Securities THOMAS J MONACO underperform 1 M 115 12 month 01.03.2012
China International Capital Corp SONGBAI WANG accumulate 4 M #N/A N/A Not Provided 01.03.2012
BNP Paribas Equity Research DOMINIC CHAN buy 5 M 179 12 month 01.03.2012
Citic Securities Co., Ltd FRANCIS CHAN hold 3 M 143 6 month 01.03.2012
UOB Kay Hian EDMOND LAW hold 3 U 135 Not Provided 01.03.2012
Core Pacific LI TIMOTHY sell 1 M 120 12 month 01.03.2012
DMG & Partners Securities TEAM COVERAGE neutral 3 D 148 12 month 01.03.2012
Morgan Stanley ANIL AGARWAL Underwt/Cautious 1 M 110 12 month 29.02.2012
JPMorgan HARSH WARDHAN MODI overweight 5 M 166 3 month 29.02.2012
Keefe, Bruyette & Woods SAM HILTON market perform 3 M 137 12 month 29.02.2012
Citi DARWIN LAM buy 5 M 163 Not Provided 29.02.2012
CLSA Asia Pacific Markets DEREK OVINGTON sell 1 M 98 Not Provided 29.02.2012
CCB International Securities Ltd KENNETH YUE neutral 3 M 141 Not Provided 29.02.2012
Daiwa Securities Capital Markets Co. JONAS KAN outperform 5 M 171 6 month 16.02.2012
BOCOM International Holdings YANG QINGLI neutral 3 M 121 Not Provided 08.02.2012
EVA Dimensions TEAM COVERAGE hold 3 U #N/A N/A Not Provided 07.01.2012
Goldman Sachs PHILIPPA ROGERS neutral/neutral 3 M 133 12 month 15.12.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 126 Not Provided 10.10.2011
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 05.09.2011
Deutsche Bank TRACY YU not rated #N/A N/A M #N/A N/A Not Provided 05.05.2011
Holdings By:
Hong Kong Exchanges and Clearing Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
HSBC Holdings plc is the holding company for the HSBC Group. The Company
provides a variety of international banking and financial services, including
retail and corporate banking, trade, trusteeship, securities, custody, capital
markets, treasury, private and investment banking, and insurance. The Group
operates worldwide.
Latest Fiscal Year: 12/2011
LTM as of: 12/yy
52-Week High (04.02.2013) 88.45
52-Week Low (04.06.2012) 59.80
Daily Volume
84
52-Week High % Change -5.03% Dividend Yield 3.79
52-Week Low % Change 40.47% Beta 1.01
% 52 Week Price Range High/Low 84.99% Equity Float 18'470.21
Shares Out 31.01.2013 18'480.6 Short Int -
1'552'370.25 1 Yr Total Return 26.29%
Total Debt 274'441.00 YTD Return 3.32%
Preferred Stock 2'712.0 Adjusted BETA 1.010
Minority Interest 7'368.0 Analyst Recs 44
Cash and Equivalents 273'607.00 Consensus Rating 3.955
Enterprise Value -
Average Volume 5 Day 12'447'250
5 HK EQUITY YTD Change - Average Volume 30 Day 14'051'410
5 HK EQUITY YTD % CHANGE - Average Volume 3 Month 14'078'470
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 12/yy 12/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
136'800.0 126'036.0 97'533.0 91'171.0 94'799.0 68'505.0 85'228.0 68'160.1 69'857.8 17'301.1 -
2.51x 1.99x 2.71x 2.27x 1.07x 5.92x 6.37x 1.53x 1.00x - -
- - - - - 0.0 0.0 - - - -
- - - - - 0.00x 0.00x - - - -
19'133.0 5'728.0 5'834.0 13'159.0 16'797.0 13'159.0 16'797.0 16'079.7 18'524.5 5'041.0 -
10.07x 19.90x 31.93x 13.43x 8.03x 13.54x 8.03x 12.29x 10.86x - -
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A+
Operating Margin 19.94% Long-Term Outlook NEG
Pretax Margin 30.19% Short-Term Rating Date 29.11.2011
Return on Assets 0.49% Short-Term Rating A-1
Return on Common Equity 7.70%
Return on Capital 3.51% EBITDA/Interest Exp. -
Asset Turnover 0.03% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 175.9%
Net Income Margin 23.2% Total Debt/Capital 62.3%
Asset Turnover 0.03
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 10.74% Inventory Days -
Tot Debt to Common Equity 175.91% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
HSBC Holdings PLCPrice/Volume
Valuation Analysis
14'040'958.00
Current Price (2/dd/yy) Market Data
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40'000.0
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80'000.0
100'000.0
120'000.0
140'000.0
160'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN CHASE & CO n/a Co File 1'250'550'419 6.95 - 15.02.2011 Investment Advisor
BLACKROCK INC n/a RNS-MAJ 1'079'549'015 6 2'427'110 02.03.2012 Investment Advisor
LEGAL & GENERAL GROU n/a Co File 705'666'880 3.92 - 31.12.2010 Investment Advisor
BLACKROCK INV MANAGE Multiple Portfolios REG 499'200'526 2.77 6'441'189 01.11.2011 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 393'555'584 2.19 19'422'016 01.11.2011 Unclassified
SCOTTISH WIDOWS INVE Multiple Portfolios REG 298'076'321 1.66 (10'954'078) 01.11.2011 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 253'521'386 1.41 9'305'884 01.11.2011 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 214'778'870 1.19 (834'873) 01.11.2011 Investment Advisor
CLEARSTREAM BANKING Multiple Portfolios REG 191'677'951 1.06 (1'638'155) 01.11.2011 Bank
VANGUARD GROUP INC Multiple Portfolios MF-AGG 190'311'883 1.06 9'604'733 31.12.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 150'715'062 0.84 719'227 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 145'180'706 0.81 7'321'855 01.11.2011 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios REG 134'533'374 0.75 11'741'220 01.11.2011 Investment Advisor
HSBC INVESTMENTS UK Multiple Portfolios REG 123'024'531 0.68 (1'448'252) 01.11.2011 Investment Advisor
AXA INVESTMENT MANAG Multiple Portfolios REG 121'271'991 0.67 (1'624'585) 01.11.2011 Investment Advisor
DODGE & COX Multiple Portfolios MF-AGG 112'723'083 0.63 3'500'000 31.12.2011 Investment Advisor
DODGE & COX Multiple Portfolios REG 111'948'631 0.62 11'095'729 01.11.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios REG 111'848'434 0.62 5'225'636 01.11.2011 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 107'881'123 0.6 17'849'731 31.01.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 107'358'296 0.6 6'706'996 30.06.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Seymour Pierce BRUCE PACKARD hold 3 D 73 Not Provided 12.03.2012
Nomura DANIEL SHUM suspended coverage #N/A N/A M #N/A N/A Not Provided 12.03.2012
Shore Capital Stockbrokers GARY GREENWOOD hold 3 M #N/A N/A Not Provided 08.03.2012
AlphaValue DAVID GRINSZTAJN add 4 M 72 6 month 08.03.2012
Citi RONIT GHOSE buy 5 M 80 Not Provided 07.03.2012
Macquarie THOMAS STOEGNER outperform 5 M 85 12 month 07.03.2012
WestLB Equity Markets NEIL SMITH add 4 M 77 Not Provided 06.03.2012
Berenberg Bank JAMES CHAPPELL buy 5 M 84 Not Provided 01.03.2012
Citic Securities Co., Ltd STEVEN CHAN hold 3 M 73 6 month 01.03.2012
Day by Day VALERIE GASTALDY buy 5 U 76 3 month 01.03.2012
Exane BNP Paribas TOM RAYNER outperform 5 M 83 Not Provided 01.03.2012
Societe Generale JAMES INVINE buy 5 M 80 12 month 28.02.2012
Mediobanca SpA CHRISTOPHER WHEELER outperform 5 M 80 12 month 28.02.2012
JPMorgan JOSHUA KLACZEK overweight 5 M 83 12 month 28.02.2012
Keefe, Bruyette & Woods MARK J PHIN outperform 5 M 79 12 month 28.02.2012
DBS Vickers ALEXANDER LEE hold 3 M 73 12 month 28.02.2012
Independent Research GmbH STEFAN BONGARDT hold 3 M 74 6 month 28.02.2012
China International Capital Corp SALLY NG accumulate 4 M 74 12 month 28.02.2012
BNP Paribas Equity Research DOMINIC CHAN buy 5 M 116 12 month 28.02.2012
Mirae Asset Securities PATRICK PONG buy 5 M 93 12 month 28.02.2012
Oriel Securities Ltd MICHAEL J TRIPPITT hold 3 M 68 Not Provided 28.02.2012
CLSA Asia Pacific Markets DANIEL TABBUSH sell 1 M 57 Not Provided 28.02.2012
BOCOM International Holdings YANG QINGLI neutral 3 M 74 Not Provided 28.02.2012
Barclays Capital THOMAS QUARMBY overwt/neutral 5 M 90 Not Provided 28.02.2012
EVA Dimensions TEAM COVERAGE overweight 5 U #N/A N/A Not Provided 28.02.2012
Standard Chartered JOHN CAPARUSSO outperform 5 M 101 12 month 27.02.2012
Morgan Stanley ANIL AGARWAL Overwt/Cautious 5 M 80 12 month 27.02.2012
Credit Suisse SANJAY JAIN neutral 3 M 74 Not Provided 27.02.2012
Daniel Stewart & Co SIMON WILLIS Under Review #N/A N/A M #N/A N/A Not Provided 27.02.2012
Standard & Poor's Equity Research FRANK BRADEN buy 5 M 86 Not Provided 27.02.2012
Redburn Partners JON KIRK buy 5 M #N/A N/A Not Provided 27.02.2012
CCB International Securities Ltd ADAM CHAN neutral 3 M 73 Not Provided 27.02.2012
Investec IAN GORDON hold 3 D 73 12 month 21.02.2012
Goldman Sachs PHILIPPA ROGERS Buy/Neutral 5 M 90 12 month 09.02.2012
Espirito Santo Investment Bank ResearchSHAILESH RAIKUNDLIA buy 5 N 80 Not Provided 06.02.2012
Mizuho Securities JIM ANTOS underperform 1 M 60 12 month 02.02.2012
Deutsche Bank TRACY YU hold 3 M 80 12 month 10.11.2011
Grupo Santander ANDREAS MAVRIKAKIS buy 5 M 101 Not Provided 12.08.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 79 Not Provided 02.08.2011
Holdings By:
HSBC Holdings PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Hutchison Whampoa Limited is a diversified company. The Company, through its
subsidiaries, operates businesses including ports and related services,
telecommunications and e-commerce, property and hotels, retail and
manufacturing, energy, infrastructure, finance and investments.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (04.02.2013) 88.00
52-Week Low (05.06.2012) 61.80
Daily Volume
81.6
52-Week High % Change -7.27% Dividend Yield 2.55
52-Week Low % Change 32.04% Beta 1.04
% 52 Week Price Range High/Low 77.29% Equity Float 2'001.51
Shares Out 30.06.2012 4'263.4 Short Int -
347'891.06 1 Yr Total Return 10.94%
Total Debt 225'056.00 YTD Return 0.87%
Preferred Stock 0.0 Adjusted BETA 1.040
Minority Interest 39'171.0 Analyst Recs 16
Cash and Equivalents 66'539.00 Consensus Rating 4.625
Enterprise Value 547'469.05
Average Volume 5 Day 7'475'821
13 HK EQUITY YTD Change - Average Volume 30 Day 6'437'590
13 HK EQUITY YTD % CHANGE - Average Volume 3 Month 6'037'963
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
218'726.0 235'478.0 208'808.0 209'180.0 233'700.0 - - 238'838.1 257'347.0 - -
2.91x 1.75x 2.14x 2.66x 2.03x - - 2.23x 2.06x - -
53'244.0 37'450.0 28'911.0 35'622.0 34'601.0 - - 43'940.7 48'913.2 - -
11.97x 10.99x 15.44x 15.65x 13.73x - - 12.46x 11.19x - -
30'600.0 12'681.0 13'631.0 20'179.0 56'019.0 - - 23'312.3 27'350.2 - -
12.32x 13.08x 16.69x 16.91x 4.95x - - 15.23x 13.03x - -
EBITDA 34'601.00 Long-Term Rating Date 09.11.2010
EBIT 20'521.00 Long-Term Rating A-
Operating Margin 8.78% Long-Term Outlook STABLE
Pretax Margin 32.07% Short-Term Rating Date -
Return on Assets 2.70% Short-Term Rating -
Return on Common Equity 5.43%
Return on Capital 5.51% EBITDA/Interest Exp. 4.08
Asset Turnover 0.32% (EBITDA-Capex)/Interest Exp. 1.12
Net Debt/EBITDA 4.32
Gross Margin 60.2% Total Debt/EBITDA 6.95
EBITDA Margin 15.3%
EBIT Margin 9.5% Total Debt/Equity 62.6%
Net Income Margin 24.0% Total Debt/Capital 36.1%
Asset Turnover 0.32
Current Ratio 1.33 Net Fixed Asset Turnover 1.12
Quick Ratio 0.83 Accounts receivable turnover-days 34.37
Debt to Assets 31.23% Inventory Days 71.60
Tot Debt to Common Equity 62.58% Accounts Payable Turnover Day 79.27
Accounts Receivable Turnover 10.65 Cash Conversion Cycle 17.07
Inventory Turnover 5.11
Fiscal Year Ended
Hutchison Whampoa LtdPrice/Volume
Valuation Analysis
9'348'234.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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100'000.0
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200'000.0
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1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CONTINENTAL REALTY L n/a EXCH 465'265'969 10.91 - 16.11.2011 Corporation
WINBO POWER LIMITED n/a EXCH 236'260'200 5.54 - 16.11.2011 Corporation
POLYCOURT LIMITED n/a EXCH 233'065'641 5.47 - 16.11.2011 Other
WELL KARIN LIMITED n/a EXCH 226'969'600 5.32 - 16.11.2011 Other
HARVESTIME HOLDINGS n/a EXCH 165'000'000 3.87 - 16.11.2011 Holding Company
ORIENTAL TIME INVEST n/a EXCH 122'774'850 2.88 - 16.11.2011 Investment Advisor
HARROWGATE INVESTMEN n/a EXCH 114'748'675 2.69 - 16.11.2011 Investment Advisor
KAM CHIN INVESTMENT n/a EXCH 108'231'279 2.54 - 16.11.2011 Investment Advisor
TOP WIN INVESTMENT L n/a EXCH 106'912'458 2.51 - 16.11.2011 Investment Advisor
RICHLAND REALTY LIMI n/a EXCH 75'242'950 1.76 - 16.11.2011 Corporation
WADDELL & REED FINAN Multiple Portfolios MF-AGG 50'443'000 1.18 5'074'000 30.09.2011 Investment Advisor
MIRABOLE LIMITED n/a EXCH 49'593'500 1.16 - 16.11.2011 Other
HISLOP RESOURCES LIM n/a EXCH 43'193'700 1.01 - 16.11.2011 Corporation
VISION CITY INTERNAT n/a EXCH 42'344'000 0.99 - 16.11.2011 Other
WHITE RAIN ENTERPRIS n/a EXCH 41'926'500 0.98 - 16.11.2011 Other
GOOD ENERGY LIMITED n/a EXCH 39'565'900 0.93 - 16.11.2011 Corporation
MASTER GRADE INVESTM n/a EXCH 39'327'000 0.92 - 16.11.2011 n/a
FUMANDA LIMITED n/a EXCH 37'851'000 0.89 - 16.11.2011 Other
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 30'757'800 0.72 (33'000) 08.03.2012 Investment Advisor
WEALTH PLEASURE LIMI n/a EXCH 30'406'200 0.71 - 16.11.2011 Other
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 05.03.2012
CLSA Asia Pacific Markets DANIE SCHUTTE outperform 5 M 86 Not Provided 01.03.2012
Goldman Sachs SIMON CHEUNG Buy/Neutral 5 M 93 12 month 27.02.2012
Credit Suisse CUSSON LEUNG outperform 5 M 108 Not Provided 27.02.2012
Citi ANIL DASWANI neutral 3 D 80 Not Provided 27.02.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 84 Not Provided 06.02.2012
Morgan Stanley PRAVEEN K CHOUDHARY restricted #N/A N/A M #N/A N/A Not Provided 03.02.2012
JPMorgan BENJAMIN LO overweight 5 M 94 12 month 03.02.2012
Deutsche Bank KAREN TANG buy 5 M 88 12 month 30.11.2011
Mirae Asset Securities ADRIAN LOWE buy 5 M 90 12 month 09.11.2011
Jefferies JULIAN BU hold 3 M 70 12 month 20.09.2011
HSBC MARK CARMERON ROSS WEBB overweight 5 M 101 Not Provided 04.08.2011
Redford Assets Management Ltd LAM KA KEI buy 5 N 100 Not Provided 28.03.2011
Standard Chartered JOHN Y F CHAN outperform 5 M 102 12 month 18.01.2011
Holdings By:
Hutchison Whampoa Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Industrial and Commercial Bank of China Ltd provides a broad range of personal
and corporate commercial banking services all over China. The Bank's businesses
include deposit, loan, credit card, fund underwriting and trust, and foreign
currency settlement and trading.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (23.01.2013) 6.00
52-Week Low (12.07.2012) 3.97
Daily Volume
5.4
52-Week High % Change -10.00% Dividend Yield 4.68
52-Week Low % Change 36.02% Beta 1.32
% 52 Week Price Range High/Low 70.94% Equity Float 71'813.63
Shares Out 31.12.2012 86'794.1 Short Int -
1'837'355.50 1 Yr Total Return 3.24%
Total Debt 1'923'778.00 YTD Return -1.82%
Preferred Stock 0.0 Adjusted BETA 1.315
Minority Interest 1'081.0 Analyst Recs 38
Cash and Equivalents 3'589'595.00 Consensus Rating 4.632
Enterprise Value -
Average Volume 5 Day #########
1398 HK EQUITY YTD Change - Average Volume 30 Day #########
1398 HK EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
391'906.0 469'928.0 470'638.0 544'045.0 704'382.0 518'841.0 657'787.0 532'460.0 582'416.4 137'869.0 -
- - - - - 0.86x -0.77x - - - -
- - - - - 0.0 0.0 - - - -
- - - - - 0.00x 0.00x - - - -
81'520.0 110'841.0 128'645.0 165'156.0 208'265.0 155'842.0 201'780.0 230'361.1 243'539.0 47'840.3 -
33.88x 10.73x 13.95x 8.83x 7.07x 8.60x 6.92x 6.57x 6.27x - -
EBITDA - Long-Term Rating Date 09.12.2010
EBIT - Long-Term Rating A
Operating Margin 56.24% Long-Term Outlook STABLE
Pretax Margin 57.02% Short-Term Rating Date 09.12.2010
Return on Assets 1.39% Short-Term Rating A-1
Return on Common Equity 23.68%
Return on Capital 7.52% EBITDA/Interest Exp. -
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 201.1%
Net Income Margin 43.6% Total Debt/Capital 66.8%
Asset Turnover 0.05
Current Ratio - Net Fixed Asset Turnover 5.91
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 12.43% Inventory Days -
Tot Debt to Common Equity 201.08% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Industrial & Commercial Bank of China LtdPrice/Volume
Valuation Analysis
226'480'921.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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200'000.0
300'000.0
400'000.0
500'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SOCIAL SECURITY FUND n/a EXCH 13'008'756'524 14.99 - 08.02.2012 Pension Fund (ERISA)
CAPITAL RESEARCH GLO n/a EXCH 4'266'918'759 4.92 - 12.09.2011 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 4'176'359'898 4.81 - 05.10.2011 Investment Advisor
BNP PARIBAS ASSET MG n/a EXCH 4'164'451'967 4.8 (93'408'157) 19.11.2010 Investment Advisor
NOMURA HOLDINGS INC n/a Short (2'319'702'900) -2.67 - 01.02.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'228'562'470 2.57 4'104'000 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'606'418'775 1.85 (870'000) 08.03.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 1'283'936'554 1.48 (66'299'940) 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 1'212'313'852 1.4 14'751'553 30.12.2011 Investment Advisor
NOMURA HOLDINGS INC n/a EXCH 857'877'144 0.99 - 01.02.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 789'267'000 0.91 - 30.09.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 717'060'965 0.83 82'667'980 31.12.2011 Investment Advisor
AMERICAN EXPRESS COM n/a Co File 638'061'117 0.74 - 31.12.2010 Bank
STATE STREET GLOBAL Multiple Portfolios MF-AGG 541'784'078 0.62 43'311'447 30.06.2011 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 482'819'400 0.56 - 31.12.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 424'870'965 0.49 (248'000) 08.03.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 402'226'405 0.46 74'278'465 09.03.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 390'093'620 0.45 (11'749'195) 31.01.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 279'101'610 0.32 (31'675'000) 31.12.2011 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 269'180'215 0.31 (35'242'000) 30.09.2011 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co MIKE WERNER outperform 5 M 7 12 month 12.03.2012
Nomura LUCY FENG buy 5 M 7 Not Provided 12.03.2012
UOB Kay Hian EDMOND LAW buy 5 M 7 Not Provided 12.03.2012
Keefe, Bruyette & Woods WARREN BLIGHT outperform 5 M 7 12 month 09.03.2012
Goldman Sachs NING MA Buy/Neutral 5 M 7 12 month 07.03.2012
BOCOM International Holdings LI SHANSHAN long-term buy 5 M 6 12 month 05.03.2012
Barclays Capital MAY YAN overwt/neutral 5 M 7 Not Provided 28.02.2012
Citic Securities Co., Ltd ZHU YAN buy 5 M 7 6 month 27.02.2012
Bank of China International SUN PENG hold 3 M 6 Not Provided 24.02.2012
Credit Suisse SANJAY JAIN outperform 5 M 6 Not Provided 23.02.2012
Mizuho Securities JIM ANTOS neutral 3 M 6 12 month 23.02.2012
DBS Vickers ALEXANDER LEE buy 5 M 7 12 month 22.02.2012
CIMB JAMES LIU outperform 5 M 6 12 month 22.02.2012
Citi SIMON HO buy 5 M 7 Not Provided 20.02.2012
HSBC TODD DUNIVANT overweight 5 M 7 Not Provided 13.02.2012
Kim Eng Securities IVAN LI buy 5 M 7 12 month 03.02.2012
Standard Chartered LAWRENCE CHEN outperform 5 M 7 12 month 01.02.2012
Macquarie VICTOR WANG outperform 5 M 8 12 month 17.01.2012
Deutsche Bank TRACY YU buy 5 M 7 12 month 16.01.2012
Religare Capital Markets SOPHIE JIANG buy 5 M 6 12 month 16.01.2012
JPMorgan SAMUEL SHUN CHEN overweight 5 M 9 9 month 12.01.2012
CCB International Securities Ltd SHENG NAN outperform 5 N 6 Not Provided 09.01.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 5 Not Provided 09.01.2012
EVA Dimensions TEAM COVERAGE hold 3 D #N/A N/A Not Provided 07.01.2012
CLSA Asia Pacific Markets KEVIN CHAN sell 1 M 4 Not Provided 05.01.2012
Morgan Stanley MINYAN LIU Overwt/In-Line 5 M 7 12 month 18.12.2011
Yuanta Securities Investment ConsultingTAN MING buy 5 U 6 Not Provided 13.12.2011
BNP Paribas Equity Research ELLIE LI buy 5 M 6 12 month 08.12.2011
Guotai Junan WILSON LI accumulate 4 M 7 Not Provided 10.11.2011
ABC International EDMOND LAW buy 5 M 7 Not Provided 31.10.2011
Capital Securities Corp TEAM COVERAGE buy 5 M 6 Not Provided 28.10.2011
Core Pacific LI TIMOTHY buy 5 M 6 Not Provided 28.10.2011
RBS IRENE HUANG buy 5 M 6 12 month 24.10.2011
Phillip Securities CHEN XINGYU buy 5 M 6 12 month 09.10.2011
Masterlink Securities RAINY YUAN hold 3 D 5 6 month 20.09.2011
SWS Research Co Ltd ROBERT HU neutral 3 M 6 Not Provided 31.08.2011
China International Capital Corp MAO JUNHUA buy 5 U 8 12 month 26.08.2011
Mirae Asset Securities PATRICK PONG buy 5 M 6 12 month 26.08.2011
Daiwa Securities Capital Markets Co. GRACE WU outperform 5 M 6 Not Provided 25.08.2011
Redford Assets Management Ltd LAM KA KEI buy 5 M 7 Not Provided 31.03.2011
ICBC International Securities IVAN LIN buy 5 M 7 Not Provided 23.04.2010
KGI Securities MICHELLE CHEN outperform 5 M 6 12 month 30.03.2010
Holdings By:
Industrial & Commercial Bank of China Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Li & Fung Limited, through its subsidiaries, operates an export trading
business. The Company exports consumer products such as garments, fashion
accessories, toys, games, sporting goods, home furnishings, handicrafts,
shoes, travel goods, and tableware. In addition, Li & Fung invests in
properties.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (23.03.2012) 20.15
52-Week Low (08.02.2013) 9.93
Daily Volume
10.5
52-Week High % Change -47.89% Dividend Yield 4.65
52-Week Low % Change 5.74% Beta 1.18
% 52 Week Price Range High/Low 5.19% Equity Float 5'520.35
Shares Out 31.01.2013 8'359.9 Short Int -
87'779.23 1 Yr Total Return -38.89%
Total Debt 1'865.66 YTD Return -23.25%
Preferred Stock 0.0 Adjusted BETA 1.177
Minority Interest 4.8 Analyst Recs 24
Cash and Equivalents 426.24 Consensus Rating 2.583
Enterprise Value 13'089.85
Average Volume 5 Day 24'875'190
494 HK EQUITY YTD Change - Average Volume 30 Day 53'628'650
494 HK EQUITY YTD % CHANGE - Average Volume 3 Month 35'191'880
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y 09/11 Q3 12/11 Q4
11'851.0 14'220.3 13'478.2 15'976.0 20'030.3 - - 20'886.1 22'825.9 - -
1.22x 0.46x 1.16x 1.50x 0.82x - - 0.63x 0.59x - -
431.3 444.8 562.1 868.8 1'053.0 - - 806.0 1'160.0 - -
33.55x 14.56x 27.88x 27.50x 15.62x - - 16.24x 11.28x - -
392.2 311.1 434.6 550.7 681.2 - - 476.9 678.7 - -
35.20x 19.16x 35.44x 40.30x 21.96x - - 21.83x 16.51x - -
EBITDA 1'052.98 Long-Term Rating Date 15.01.2013
EBIT 826.44 Long-Term Rating A- *-
Operating Margin 4.13% Long-Term Outlook -
Pretax Margin 3.85% Short-Term Rating Date -
Return on Assets 7.09% Short-Term Rating -
Return on Common Equity 18.63%
Return on Capital 14.85% EBITDA/Interest Exp. 8.19
Asset Turnover 1.90% (EBITDA-Capex)/Interest Exp. 7.31
Net Debt/EBITDA 1.67
Gross Margin 14.9% Total Debt/EBITDA 1.96
EBITDA Margin 5.2%
EBIT Margin 3.9% Total Debt/Equity 47.4%
Net Income Margin 3.4% Total Debt/Capital 32.1%
Asset Turnover 1.90
Current Ratio 1.08 Net Fixed Asset Turnover 60.01
Quick Ratio 0.66 Accounts receivable turnover-days 37.03
Debt to Assets 17.08% Inventory Days 21.80
Tot Debt to Common Equity 47.43% Accounts Payable Turnover Day 49.78
Accounts Receivable Turnover 9.88 Cash Conversion Cycle 8.61
Inventory Turnover 16.79
Fiscal Year Ended
Li & Fung LtdPrice/Volume
Valuation Analysis
12'908'548.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
LI & FUNG (1937) LTD n/a EXCH 2'195'727'908 27 - 22.12.2011 Other
DEUTSCHE BANK AG n/a EXCH 599'206'769 7.37 - 31.01.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a EXCH 566'265'325 6.96 - 19.01.2012 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 562'114'292 6.91 - 01.03.2012 Investment Advisor
CAPITAL RESEARCH AND n/a EXCH 414'133'000 5.09 - 12.08.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 271'465'000 3.34 - 31.12.2011 Investment Advisor
TEMASEK HOLDINGS PRI n/a Co File 243'071'970 2.99 - 31.03.2011 Government
KWOK LUN FUNG n/a EXCH 190'377'060 2.34 4'176'000 21.10.2011 n/a
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 184'396'000 2.27 9'126'000 31.12.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 169'063'128 2.08 14'531'833 31.01.2012 Investment Advisor
LI & FUNG (DISTRIBUT n/a EXCH 153'225'964 1.88 - 19.01.2012 Other
FIRST ISLANDS DEVELO n/a EXCH 140'851'708 1.73 111'650'000 19.01.2012 Other
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 87'685'200 1.08 (590'000) 31.12.2011 Investment Advisor
ABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 87'171'490 1.07 1'600'000 31.01.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 81'274'000 1 (90'000) 08.03.2012 Investment Advisor
MASSACHUSETTS FINANC Multiple Portfolios MF-AGG 76'308'352 0.94 2'698'000 31.12.2011 Investment Advisor
DEUTSCHE BANK AG n/a Short (59'024'227) -0.73 - 31.01.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 54'802'887 0.67 (20'666'273) 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 50'543'472 0.62 6'592'868 30.06.2011 Investment Advisor
HURRICANE MILLENNIUM n/a EXCH 49'823'020 0.61 - 12.01.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura TANUJ SHORI buy 5 U 20 Not Provided 08.03.2012
Credit Suisse GABRIEL CHAN neutral 3 M 19 Not Provided 01.03.2012
Citic Securities Co., Ltd MOHAN SINGH overweight 5 N 19 6 month 15.02.2012
Daiwa Securities Capital Markets Co. MATTHEW MARSDEN buy 5 M 23 Not Provided 26.01.2012
CLSA Asia Pacific Markets AARON FISCHER underperform 1 D 16 Not Provided 06.01.2012
Citi EDDIE K LAU neutral 3 D 15 Not Provided 15.12.2011
UOB Kay Hian KEN LEE sell 1 M 10 Not Provided 15.12.2011
HSBC CHRISTOPHER K LEUNG overweight 5 M 20 Not Provided 11.12.2011
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 30.11.2011
Morgan Stanley ANGELA MOH Overwt/Attractive 5 M 19 12 month 06.11.2011
Barclays Capital VINEET SHARMA overwt/neutral 5 M 23 Not Provided 21.10.2011
Mizuho Securities PETER TANG underperform 1 M 11 12 month 04.10.2011
DBS Vickers PATRICIA YEUNG hold 3 D 15 12 month 09.09.2011
Macquarie GARY PINGE underperform 1 M 10 12 month 17.08.2011
Goldman Sachs JOSHUA LU neutral/neutral 3 M 13 12 month 15.08.2011
JPMorgan KURUMLU EBRU SENER neutral 3 D 14 9 month 12.08.2011
Deutsche Bank ANNE LING buy 5 M 17 12 month 11.08.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 20 Not Provided 19.05.2011
CIMB TEAM COVERAGE outperform 5 M 23 12 month 16.09.2010
Holdings By:
Li & Fung Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
MTR Corporation Limited provides public transport services in Hong Kong. The
Company owns and operates the Mass Transit Railway. The Company also develops,
sells, and manages residential and commercial properties. In addition, MTR
leases commercial facilities and provides services along the Railway, such as
advertising, telecommunication facilities, and provides consultancy services.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (20.02.2013) 32.70
52-Week Low (08.06.2012) 24.60
Daily Volume
31.55
52-Week High % Change -3.52% Dividend Yield 2.41
52-Week Low % Change 28.25% Beta 0.69
% 52 Week Price Range High/Low 87.65% Equity Float 1'358.74
Shares Out 31.01.2013 5'794.2 Short Int -
182'806.83 1 Yr Total Return 19.91%
Total Debt 34'046.00 YTD Return 3.44%
Preferred Stock 0.0 Adjusted BETA 0.687
Minority Interest 186.0 Analyst Recs 14
Cash and Equivalents 18'852.00 Consensus Rating 3.714
Enterprise Value 196'571.82
Average Volume 5 Day 2'948'792
66 HK EQUITY YTD Change - Average Volume 30 Day 2'396'681
66 HK EQUITY YTD % CHANGE - Average Volume 3 Month 2'266'550
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
10'690.0 17'628.0 18'797.0 29'518.0 33'423.0 - - 35'536.0 37'365.7 - -
18.17x 7.47x 9.63x 6.16x 4.90x - - 5.57x 5.34x - -
15'383.0 15'971.0 14'774.0 14'956.0 16'411.0 - - 13'430.0 14'135.5 - -
12.62x 8.25x 12.25x 12.16x 9.97x - - 14.64x 13.91x - -
15'180.0 8'284.0 9'639.0 12'059.0 14'716.0 - - 9'022.6 9'318.3 - -
10.55x 12.22x 15.86x 13.48x 9.86x - - 20.04x 19.81x - -
EBITDA 19'648.00 Long-Term Rating Date 16.12.2010
EBIT 13'236.00 Long-Term Rating AAA
Operating Margin 39.60% Long-Term Outlook STABLE
Pretax Margin 52.86% Short-Term Rating Date 09.10.2009
Return on Assets 6.31% Short-Term Rating A-1+
Return on Common Equity 9.60%
Return on Capital 8.13% EBITDA/Interest Exp. 16.52
Asset Turnover 0.17% (EBITDA-Capex)/Interest Exp. 8.08
Net Debt/EBITDA 0.70
Gross Margin - Total Debt/EBITDA 1.93
EBITDA Margin 55.9%
EBIT Margin 37.3% Total Debt/Equity 26.4%
Net Income Margin 44.0% Total Debt/Capital 20.9%
Asset Turnover 0.17
Current Ratio 1.10 Net Fixed Asset Turnover 0.24
Quick Ratio 0.86 Accounts receivable turnover-days 34.23
Debt to Assets 17.21% Inventory Days -
Tot Debt to Common Equity 26.42% Accounts Payable Turnover Day -
Accounts Receivable Turnover 10.69 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
MTR Corp LtdPrice/Volume
Valuation Analysis
2'300'420.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FINANCIAL SECRETARY n/a Co File 4'434'552'207 76.66 - 31.12.2010 Government
EXCHANGE FUND n/a Co File 32'325'625 0.56 - 31.12.2010 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 21'204'583 0.37 (27'500) 08.03.2012 Investment Advisor
ABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 15'058'485 0.26 2'262'000 31.01.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 13'992'587 0.24 336'500 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 12'901'741 0.22 159'757 30.06.2011 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 10'772'105 0.19 361'500 09.03.2012 Investment Advisor
JP MORGAN ASSET MGMT Multiple Portfolios MF-AGG 6'781'500 0.12 - 14.01.2011 Mutual Fund Manager
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 5'509'337 0.1 (2'278'000) 31.01.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 3'439'916 0.06 (2'708'500) 31.01.2012 Investment Advisor
NISSAY ASSET MANAGEM Multiple Portfolios MF-AGG 2'743'500 0.05 2'000 21.11.2011 Mutual Fund Manager
SWISSCANTO FONDSLEIT Multiple Portfolios MF-AGG 2'725'991 0.05 (60'000) 30.12.2011 Investment Advisor
NEW JERSEY DIVISION Multiple Portfolios MF-AGG 2'699'684 0.05 (1'351'882) 31.12.2011 Pension Fund (ERISA)
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 2'200'093 0.04 (22'000) 08.03.2012 Investment Advisor
RBC GLOBAL ASSET MAN Multiple Portfolios MF-AGG 2'034'500 0.04 1'634'500 31.10.2011 Investment Advisor
HI ASSET MANAGEMENT Multiple Portfolios MF-AGG 1'590'000 0.03 - 30.09.2011 Mutual Fund Manager
SKANDIA GLOBAL FUNDS Multiple Portfolios MF-AGG 1'541'524 0.03 - 31.10.2011 Mutual Fund Manager
AXA ROSENBERG INTL Multiple Portfolios MF-AGG 1'400'500 0.02 662'500 30.09.2011 Investment Advisor
FRANK RUSSELL TRUST Multiple Portfolios MF-AGG 1'276'666 0.02 (82'106) 31.12.2011 Investment Advisor
AMUNDI LUXEMBOURG SA Multiple Portfolios MF-AGG 1'089'500 0.02 13'500 30.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse CUSSON LEUNG outperform 5 M 32 Not Provided 09.03.2012
CLSA Asia Pacific Markets DANIE SCHUTTE outperform 5 U 32 Not Provided 09.03.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 29 Not Provided 09.03.2012
Morgan Stanley PRAVEEN K CHOUDHARY Overwt/In-Line 5 M 31 12 month 08.03.2012
JPMorgan BENJAMIN LO neutral 3 M 25 9 month 08.03.2012
Jefferies JULIAN BU hold 3 M 27 12 month 08.03.2012
Citi MICHAEL BEER buy 5 M 31 Not Provided 08.03.2012
Daiwa Securities Capital Markets Co. JONAS KAN outperform 5 M 29 Not Provided 08.03.2012
EVA Dimensions TEAM COVERAGE overweight 5 U #N/A N/A Not Provided 05.03.2012
Goldman Sachs SIMON CHEUNG neutral/neutral 3 M 29 12 month 27.02.2012
GuoSen Securities Co Ltd MICHAEL NG buy 5 N 30 12 month 20.02.2012
DBS Vickers JEFF YAU buy 5 M 31 12 month 27.01.2012
Deutsche Bank TONY TSANG not rated #N/A N/A M #N/A N/A Not Provided 01.03.2011
Credit Suisse FELIX RUSLI outperform 5 M 36 Not Provided 21.02.2011
Piper Jaffray HONGBO B LU neutral 3 M 33 12 month 11.08.2010
Kim Eng Securities IVAN CHEUNG hold 3 M 31 12 month 10.03.2010
Holdings By:
MTR Corp Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
New World Development Company Limited, through its subsidiaries, develops and
invests in properties, provides contracting services, property management, and
transportation services. The Company also operates infrastructure business,
telecommunication services, department stores, hotels and restaurants, and
media and technology business.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (25.01.2013) 15.12
52-Week Low (25.05.2012) 7.95
Daily Volume
13.76
52-Week High % Change -8.99% Dividend Yield 2.76
52-Week Low % Change 73.08% Beta 1.25
% 52 Week Price Range High/Low 74.06% Equity Float 3'688.22
Shares Out 31.01.2013 6'262.7 Short Int -
86'174.63 1 Yr Total Return 34.62%
Total Debt 86'000.40 YTD Return 14.48%
Preferred Stock 0.0 Adjusted BETA 1.250
Minority Interest 34'497.8 Analyst Recs 16
Cash and Equivalents 28'494.70 Consensus Rating 4.125
Enterprise Value 178'178.12
Average Volume 5 Day 17'036'140
17 HK EQUITY YTD Change - Average Volume 30 Day 22'056'280
17 HK EQUITY YTD % CHANGE - Average Volume 3 Month 19'201'520
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y 09/11 Q1 12/11 Q2
29'360.8 24'415.0 30'218.6 32'882.0 35'620.1 - - 44'957.2 47'812.0 - -
3.79x 4.65x 3.41x 3.43x 4.14x - - 3.92x 3.58x - -
3'779.7 3'222.7 7'152.5 7'554.0 10'816.0 - - 11'720.1 12'223.8 - -
29.43x 35.25x 14.40x 14.93x 13.63x - - 15.20x 14.58x - -
9'685.7 2'083.5 12'398.6 9'153.9 10'139.0 - - 6'785.1 7'517.1 - -
6.13x 25.49x 4.01x 5.07x 4.79x - - 12.57x 11.23x - -
EBITDA 10'816.00 Long-Term Rating Date -
EBIT 9'211.80 Long-Term Rating -
Operating Margin 25.86% Long-Term Outlook -
Pretax Margin 52.56% Short-Term Rating Date -
Return on Assets 3.93% Short-Term Rating -
Return on Common Equity 8.92%
Return on Capital 6.96% EBITDA/Interest Exp. 3.62
Asset Turnover 0.14% (EBITDA-Capex)/Interest Exp. 2.70
Net Debt/EBITDA 5.32
Gross Margin 44.1% Total Debt/EBITDA 7.95
EBITDA Margin 30.4%
EBIT Margin 25.9% Total Debt/Equity 69.6%
Net Income Margin 28.5% Total Debt/Capital 35.2%
Asset Turnover 0.14
Current Ratio 2.09 Net Fixed Asset Turnover 0.40
Quick Ratio 0.62 Accounts receivable turnover-days 28.91
Debt to Assets 30.03% Inventory Days 895.87
Tot Debt to Common Equity 69.61% Accounts Payable Turnover Day 75.94
Accounts Receivable Turnover 12.66 Cash Conversion Cycle 848.84
Inventory Turnover 0.41
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
New World Development Co LtdPrice/Volume
Valuation Analysis
24'260'265.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHOW TAI FOOK ENTERP n/a EXCH 2'336'516'714 38.29 - 05.01.2012 Corporation
JP MORGAN CHASE & CO n/a EXCH 289'813'525 4.75 - 14.02.2012 Investment Advisor
UBS AG n/a EXCH 271'444'295 4.45 - 24.10.2011 Investment Advisor
ANDERSON & KIRKWOOD n/a EXCH 118'605'933 1.94 - 05.01.2012 n/a
WING FUNG DEVELOPMEN n/a EXCH 99'921'534 1.64 - 05.01.2012 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 55'074'340 0.9 (60'000) 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 53'448'857 0.88 16'251'684 31.12.2011 Investment Advisor
UBS AG n/a Short (49'437'410) -0.81 - 24.10.2011 Investment Advisor
HSBC HOLDINGS PLC n/a EXCH 23'004'884 0.38 - 25.11.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 21'287'962 0.35 515'582 30.06.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 19'504'547 0.32 572'849 08.03.2012 Investment Advisor
ALLIANCEBERNSTEIN LP Multiple Portfolios MF-AGG 17'813'469 0.29 (63'241) 31.01.2012 Investment Advisor
LORD ABBETT & CO LLC Multiple Portfolios MF-AGG 17'620'000 0.29 17'620'000 31.12.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 15'153'107 0.25 4'328'997 31.01.2012 Investment Advisor
UBS INSTITUTIONAL FU Multiple Portfolios MF-AGG 13'661'500 0.22 3'317'500 30.11.2011 Mutual Fund Manager
LANDESBANK BERLIN IN Multiple Portfolios MF-AGG 10'814'000 0.18 - 31.01.2012 Mutual Fund Manager
YU YEK ENTERPRISES C n/a EXCH 10'770'332 0.18 - 05.01.2012 n/a
THRIVENT FINANCIAL F Multiple Portfolios MF-AGG 10'475'650 0.17 2'576'550 31.10.2011 Investment Advisor
SANFORD C BERNSTEIN Multiple Portfolios MF-AGG 10'286'531 0.17 (6'820'000) 31.01.2012 Investment Advisor
UBS FUND MANAGEMENT Multiple Portfolios MF-AGG 8'796'586 0.14 (91'058) 30.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 05.03.2012
JPMorgan AMY LUK overweight 5 M 13 9 month 01.03.2012
Macquarie DAVID NG outperform 5 M 14 12 month 01.03.2012
DBS Vickers JEFF YAU fully valued 2 D 9 12 month 01.03.2012
Goldman Sachs JUSTIN KWOK neutral/attractive 3 M 9 12 month 29.02.2012
Nomura PAUL LOUIE neutral 3 M 10 Not Provided 29.02.2012
Citi ANIL DASWANI buy 5 M 12 Not Provided 15.02.2012
CLSA Asia Pacific Markets RICKY MUI sell 1 D 8 Not Provided 27.01.2012
UOB Kay Hian SYLVIA WONG sell 1 M 6 Not Provided 16.12.2011
Barclays Capital ANDREW LAWRENCE equalwt/negative 3 U 7 Not Provided 02.11.2011
RBS FAN TSO buy 5 M 23 12 month 25.05.2011
Deutsche Bank TONY TSANG not rated #N/A N/A M #N/A N/A Not Provided 01.03.2011
Holdings By:
New World Development Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
PetroChina Company Limited explores, develops, and produces crude oil and
natural gas. The Company also refines, transports, and distributes crude oil
and petroleum products, produces and sells chemicals, and transmits, markets
and sells natural gas.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (29.02.2012) 11.90
52-Week Low (05.09.2012) 9.03
Daily Volume
10.56
52-Week High % Change -11.26% Dividend Yield 3.74
52-Week Low % Change 16.94% Beta 0.96
% 52 Week Price Range High/Low 54.01% Equity Float 20'807.38
Shares Out 31.12.2012 21'098.9 Short Int -
2'030'256.38 1 Yr Total Return -4.38%
Total Debt 318'002.00 YTD Return -3.83%
Preferred Stock 0.0 Adjusted BETA 0.965
Minority Interest 79'801.0 Analyst Recs 34
Cash and Equivalents 61'590.00 Consensus Rating 3.471
Enterprise Value 2'047'380.42
Average Volume 5 Day 77'937'110
857 HK EQUITY YTD Change - Average Volume 30 Day 67'228'580
857 HK EQUITY YTD % CHANGE - Average Volume 3 Month 65'654'560
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
836'353.0 1'072'604.0 1'019'275.0 1'465'415.0 2'003'843.0 ######### ######### ######### ######### 554'837.7 586'637.0
6.35x 1.78x 2.57x 1.54x 1.04x 4.76x 4.52x 1.00x 0.95x - -
269'727.0 256'680.0 237'168.0 303'643.0 323'368.0 276'681.0 332'794.0 330'593.5 369'727.8 85'381.0 -
19.70x 7.45x 11.04x 7.43x 6.43x 5.82x 6.10x 6.19x 5.54x - -
146'750.0 114'453.0 103'387.0 139'992.0 132'961.0 122'069.0 143'368.0 120'788.5 138'412.9 29'085.3 30'297.0
15.86x 9.49x 14.65x 11.33x 10.74x 11.62x 10.18x 12.88x 11.12x 12.78x 12.28x
EBITDA 323'368.00 Long-Term Rating Date -
EBIT 185'295.00 Long-Term Rating -
Operating Margin 9.25% Long-Term Outlook -
Pretax Margin 9.19% Short-Term Rating Date -
Return on Assets 6.68% Short-Term Rating -
Return on Common Equity 12.80%
Return on Capital 10.29% EBITDA/Interest Exp. 27.94
Asset Turnover 1.09% (EBITDA-Capex)/Interest Exp. 4.79
Net Debt/EBITDA 1.07
Gross Margin - Total Debt/EBITDA 1.34
EBITDA Margin 15.5%
EBIT Margin 8.5% Total Debt/Equity 31.7%
Net Income Margin 6.6% Total Debt/Capital 22.7%
Asset Turnover 1.09
Current Ratio 0.68 Net Fixed Asset Turnover 1.54
Quick Ratio 0.23 Accounts receivable turnover-days 12.81
Debt to Assets 16.58% Inventory Days -
Tot Debt to Common Equity 31.71% Accounts Payable Turnover Day -
Accounts Receivable Turnover 28.58 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
PetroChina Co LtdPrice/Volume
Valuation Analysis
62'814'232.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES I n/a EXCH 1'270'171'357 6.02 - 20.01.2011 Investment Advisor
ABERDEEN ASSET MANAG n/a Co File 1'266'618'163 6 - 31.12.2010 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 1'145'827'799 5.43 - 14.09.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 779'925'744 3.7 2'802'000 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 488'036'000 2.31 (34'000) 08.03.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 350'420'000 1.66 (6'262'000) 31.12.2011 Investment Advisor
BLACKROCK INC n/a Short (205'913'612) -0.98 - 07.02.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 188'084'081 0.89 1'660'670 30.06.2011 Investment Advisor
CHINA NATIONAL PETRO n/a 20F 149'892'000 0.71 - 31.03.2011 Government
FIDELITY INTERNATION Multiple Portfolios MF-AGG 145'160'733 0.69 43'967'533 31.10.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 131'898'965 0.63 (126'000) 08.03.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 103'658'000 0.49 (9'126'000) 30.09.2011 Mutual Fund Manager
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 102'484'000 0.49 (3'216'000) 31.12.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 82'221'243 0.39 (30'454'000) 30.09.2011 Investment Advisor
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 78'272'272 0.37 - 31.03.2011 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 68'980'000 0.33 10'000'000 08.03.2012 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 68'240'000 0.32 (20'470'000) 29.07.2011 Mutual Fund Manager
PRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 65'855'324 0.31 1'676'000 31.01.2012 Investment Advisor
HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 64'740'000 0.31 15'288'000 30.06.2011 Investment Advisor
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 63'862'000 0.3 (310'000) 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura SONIA SONG reduce 2 M 11 Not Provided 12.03.2012
Standard Chartered YOSSAVEE SUTTIKULPANICH in-line 3 M 11 12 month 09.03.2012
Sanford C. Bernstein & Co NEIL BEVERIDGE market perform 3 M 12 12 month 09.03.2012
Jefferies LABAN YU buy 5 M 16 12 month 08.03.2012
BOCOM International Holdings FEI WU long-term buy 5 D 13 12 month 07.03.2012
ICBC International Securities ANNA YU hold 3 M 11 Not Provided 07.03.2012
Barclays Capital SCOTT DARLING overwt/positive 5 M 14 Not Provided 05.03.2012
Goldman Sachs NILESH BANERJEE neutral/neutral 3 M 12 12 month 01.03.2012
Credit Suisse DAVID HEWITT outperform 5 M 14 Not Provided 27.02.2012
UOB Kay Hian YAN SHI sell 1 D 11 Not Provided 15.02.2012
BNP Paribas Equity Research CHENG KHOO buy 5 M 13 12 month 09.02.2012
Morgan Stanley WEE KIAT TAN Equalwt/Attractive 3 M 11 12 month 07.02.2012
CLSA Asia Pacific Markets SIMON POWELL buy 5 M 14 Not Provided 02.02.2012
Yuanta Securities Investment ConsultingKIM-CHONG TAN buy 5 M 13 Not Provided 19.01.2012
DBS Vickers WEE KEAT LEE hold 3 M 10 12 month 11.01.2012
Citic Securities Co., Ltd TEAM COVERAGE buy 5 M 11 6 month 09.01.2012
Macquarie JAMES HUBBARD outperform 5 M 14 12 month 06.01.2012
Mizuho Securities ANDREW S F CHAN buy 5 M 13 12 month 06.01.2012
Daiwa Securities Capital Markets Co. ADRIAN LOH hold 3 M 10 Not Provided 06.01.2012
Guotai Junan GRACE LIU buy 5 M 12 Not Provided 06.01.2012
Deutsche Bank DAVID HURD hold 3 M 11 12 month 04.01.2012
Mirae Asset Securities GORDON KWAN buy 5 M 13 12 month 21.12.2011
Citi GRAHAM CUNNINGHAM buy 5 U 12 Not Provided 14.12.2011
Capital Securities Corp TEAM COVERAGE buy 5 M 12 Not Provided 05.12.2011
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 30.11.2011
GuoSen Securities Co Ltd STEVEN LU neutral 3 M #N/A N/A Not Provided 22.11.2011
JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 9 9 month 21.11.2011
RBS DANNY HUANG hold 3 M 10 12 month 01.11.2011
Bank of China International LAWRENCE LAU hold 3 D 11 Not Provided 28.10.2011
China International Capital Corp BIN GUAN accumulate 4 M 12 12 month 28.10.2011
SWS Research Co Ltd YE RONG neutral 3 M 10 Not Provided 28.10.2011
Ji Asia SAMUEL THAWLEY buy 5 M 11 12 month 19.10.2011
Masterlink Securities LI XIN buy 5 M 11 6 month 30.08.2011
HSBC PAUL SPEDDING underweight 1 M 8 Not Provided 23.08.2011
Industrial Securities FANG LEI strong buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
PetroChina Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Ping An Insurance (Group) Company of China Limited provides a variety of
insurance service in China. The Company writes property, casualty, and life
insurance. Ping An Insurance also offers financial services.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (04.02.2013) 72.70
52-Week Low (04.06.2012) 53.00
Daily Volume
63.85
52-Week High % Change -12.17% Dividend Yield 0.78
52-Week Low % Change 20.47% Beta 1.47
% 52 Week Price Range High/Low 54.57% Equity Float 1'564.20
Shares Out 31.10.2012 3'129.7 Short Int -
469'359.63 1 Yr Total Return -2.47%
Total Debt 322'062.00 YTD Return -1.62%
Preferred Stock 0.0 Adjusted BETA 1.472
Minority Interest 40'475.0 Analyst Recs 31
Cash and Equivalents 94'582.00 Consensus Rating 4.194
Enterprise Value 640'835.80
Average Volume 5 Day 12'205'280
2318 HK EQUITY YTD Change - Average Volume 30 Day 45'993'940
2318 HK EQUITY YTD % CHANGE - Average Volume 3 Month 35'043'860
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
139'137.0 87'666.0 152'961.0 195'052.0 272'683.0 176'410.0 249'642.0 323'723.8 384'490.9 - -
5.10x 3.19x 3.24x 3.37x 2.06x 12.40x 4.85x 1.76x 1.49x - -
- - - - - 0.0 0.0 - - - -
- - - - - 0.00x 0.00x - - - -
18'688.0 1'418.0 13'883.0 17'311.0 19'475.0 18'264.0 19'074.0 21'975.0 28'845.0 - -
30.00x 173.82x 31.68x 32.03x 16.61x 27.76x 14.56x 17.99x 13.94x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin 19.28% Long-Term Outlook -
Pretax Margin 11.01% Short-Term Rating Date -
Return on Assets 1.05% Short-Term Rating -
Return on Common Equity 14.71%
Return on Capital 9.85% EBITDA/Interest Exp. -
Asset Turnover 0.16% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 246.1%
Net Income Margin 7.1% Total Debt/Capital 65.3%
Asset Turnover 0.16
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 14.09% Inventory Days -
Tot Debt to Common Equity 246.10% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Ping An Insurance Group Co of China LtdPrice/Volume
Valuation Analysis
12'060'858.00
Current Price (2/dd/yy) Market Data
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HSBC HOLDINGS PLC n/a EXCH 1'233'926'425 39.43 - 17.06.2011 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 250'370'191 8 - 10.01.2012 Investment Advisor
BLUM RICHARD CHARLES n/a EXCH 139'088'758 4.44 (160'000'000) 17.05.2010 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 79'530'119 2.54 (3'492'035) 31.12.2011 Investment Advisor
JINJUN CO LTD n/a EXCH 76'000'000 2.43 (120'000'000) 24.08.2011 Corporation
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 71'169'000 2.27 (8'810'000) 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 57'662'500 1.84 (44'000) 08.03.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 41'791'000 1.34 3'775'000 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 31'918'632 1.02 (10'528'042) 30.12.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 30'571'000 0.98 1'219'500 31.12.2011 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 19'016'000 0.61 748'000 30.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 15'276'733 0.49 123'198 30.06.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 14'607'000 0.47 (373'000) 31.12.2011 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 12'761'661 0.41 10'727'000 30.09.2011 Mutual Fund Manager
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 11'049'023 0.35 (7'000) 08.03.2012 Investment Advisor
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 9'443'000 0.3 415'000 31.01.2012 Investment Advisor
MIRAE ASSET INVESTME Multiple Portfolios MF-AGG 8'511'000 0.27 843'000 30.09.2011 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 7'915'000 0.25 (6'064'500) 30.09.2011 Mutual Fund Manager
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 7'909'202 0.25 (5'587'500) 30.09.2011 Investment Advisor
UBS STRATEGY FUND MG Multiple Portfolios MF-AGG 6'756'400 0.22 (35'500) 30.11.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura DAVID CHUNG buy 5 M 97 Not Provided 12.03.2012
JPMorgan CHAN BAO LING overweight 5 M 72 12 month 09.03.2012
BNP Paribas Equity Research ELLIE LI hold 3 M 66 12 month 07.03.2012
Citi DARWIN LAM buy 5 M 73 Not Provided 06.03.2012
DBS Vickers PING CHENG buy 5 M 76 12 month 02.03.2012
Phillip Securities CHEN XINGYU buy 5 M 80 Not Provided 02.03.2012
Keefe, Bruyette & Woods STANLEY TSAI outperform 5 M 83 12 month 29.02.2012
BOCOM International Holdings LI WENBING buy 5 M 81 12 month 22.02.2012
SWS Research Co Ltd ROBERT HU neutral 3 D 62 Not Provided 15.02.2012
Credit Suisse ARJAN VAN VEEN neutral 3 M 73 Not Provided 13.02.2012
Deutsche Bank ESTHER CHWEI buy 5 M 73 12 month 10.02.2012
Core Pacific OLIVE XIA buy 5 M 73 12 month 06.02.2012
Macquarie SCOTT G RUSSELL outperform 5 M 75 12 month 01.02.2012
Standard Chartered PETER O'BRIEN outperform 5 M 75 12 month 25.01.2012
ICBC International Securities PIUS CHENG hold 3 M 63 Not Provided 18.01.2012
HSBC JAMES GARNER overweight 5 M 73 Not Provided 16.01.2012
Barclays Capital MARK KELLOCK overwt/positive 5 M 104 Not Provided 09.01.2012
CLSA Asia Pacific Markets PATRICIA CHENG underperform 1 D 55 Not Provided 08.01.2012
Morgan Stanley BEN LIN Overwt/In-Line 5 M 70 12 month 21.12.2011
CCB International Securities Ltd KENNETH YUE outperform 5 M 83 Not Provided 21.12.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 62 Not Provided 21.12.2011
Kim Eng Securities IVAN LI buy 5 M 75 12 month 30.11.2011
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 30.11.2011
Daiwa Securities Capital Markets Co. JENNIFER LAW buy 5 M 100 Not Provided 08.11.2011
Capital Securities Corp TEAM COVERAGE buy 5 M 65 Not Provided 01.11.2011
Yuanta Securities Investment ConsultingBARON NIE buy 5 M 75 Not Provided 27.10.2011
China International Capital Corp MAO JUNHUA buy 5 M 77 12 month 27.10.2011
Mirae Asset Securities IVAN CHEUNG hold 3 D 58 12 month 18.10.2011
Goldman Sachs NING MA Buy/Neutral 5 M 69 12 month 09.10.2011
RBS YANAN WANG hold 3 M 84 12 month 01.08.2011
Guotai Junan FELIX LUO buy 5 M 105 Not Provided 28.10.2010
Citic Securities Co., Ltd HUANG HUAMIN buy 5 M 101 6 month 25.06.2010
Bank of China International YUAN LIN hold 3 M 65 Not Provided 19.04.2010
China Merchants Securities LUO JINMING buy 5 M 60 Not Provided 12.02.2009
Holdings By:
Ping An Insurance Group Co of China Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Power Assets Holdings Limited generates and supplies electricity and provides
engineering consultancy and project management services.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (26.02.2013) 72.80
52-Week Low (31.05.2012) 53.40
Daily Volume
68.65
52-Week High % Change -5.70% Dividend Yield 3.38
52-Week Low % Change 28.56% Beta 0.44
% 52 Week Price Range High/Low 90.46% Equity Float 1'304.41
Shares Out 30.06.2012 2'134.3 Short Int -
146'517.06 1 Yr Total Return 28.09%
Total Debt 23'626.00 YTD Return 3.70%
Preferred Stock 0.0 Adjusted BETA 0.440
Minority Interest 0.0 Analyst Recs 19
Cash and Equivalents 6'121.00 Consensus Rating 3.737
Enterprise Value 165'129.07
Average Volume 5 Day 2'214'125
6 HK EQUITY YTD Change - Average Volume 30 Day 2'328'549
6 HK EQUITY YTD % CHANGE - Average Volume 3 Month 2'529'664
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
12'524.0 12'773.0 10'395.0 10'371.0 10'201.0 - - 10'586.5 10'825.3 - -
7.75x 7.40x 9.35x 12.01x - - - 15.45x 14.97x - -
9'437.0 9'633.0 7'428.0 7'449.0 - - - 8'425.5 8'659.3 - -
10.28x 9.81x 13.09x 16.72x - - - 19.60x 19.07x - -
7'448.0 8'029.0 6'697.0 7'194.0 9'075.0 - - 9'583.4 10'010.4 - -
12.85x 11.57x 13.44x 14.54x 13.52x - - 15.27x 14.58x - -
EBITDA 6'628.00 Long-Term Rating Date 09.11.2010
EBIT 4'793.00 Long-Term Rating A+
Operating Margin 46.99% Long-Term Outlook STABLE
Pretax Margin 97.37% Short-Term Rating Date -
Return on Assets 9.87% Short-Term Rating -
Return on Common Equity 16.18%
Return on Capital 12.04% EBITDA/Interest Exp. 9.94
Asset Turnover 0.11% (EBITDA-Capex)/Interest Exp. 6.22
Net Debt/EBITDA 2.79
Gross Margin 60.5% Total Debt/EBITDA 3.78
EBITDA Margin 64.0%
EBIT Margin 46.2% Total Debt/Equity 40.8%
Net Income Margin 89.0% Total Debt/Capital 29.0%
Asset Turnover 0.11
Current Ratio 2.19 Net Fixed Asset Turnover 0.22
Quick Ratio 1.58 Accounts receivable turnover-days 31.07
Debt to Assets 24.94% Inventory Days 82.00
Tot Debt to Common Equity 40.82% Accounts Payable Turnover Day 202.29
Accounts Receivable Turnover 11.78 Cash Conversion Cycle -106.49
Inventory Turnover 4.46
Fiscal Year Ended
Power Assets Holdings LtdPrice/Volume
Valuation Analysis
5'003'860.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHEUNG KONG INFRASTR n/a Co File 829'599'612 38.87 - 31.12.2010 Corporation
CAPITAL RESEARCH AND n/a EXCH 170'522'000 7.99 - 18.11.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 112'474'000 5.27 (4'241'500) 31.12.2011 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 57'384'000 2.69 (5'000'000) 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 20'513'000 0.96 (25'000) 08.03.2012 Investment Advisor
PICTET ASSET MANAGEM Multiple Portfolios MF-AGG 19'270'364 0.9 (1'879'000) 30.12.2011 Mutual Fund Manager
VANGUARD GROUP INC Multiple Portfolios MF-AGG 13'592'639 0.64 348'000 31.12.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 12'681'676 0.59 (1'255'000) 31.01.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 12'401'697 0.58 147'247 30.06.2011 Investment Advisor
VONTOBEL ASSET MANAG Multiple Portfolios MF-AGG 8'078'902 0.38 429'900 30.11.2011 Investment Advisor
DAIWA SB INVESTMENTS Multiple Portfolios MF-AGG 7'954'500 0.37 - 27.09.2011 Investment Advisor
HARRIS TRUST & SAVIN Multiple Portfolios MF-AGG 5'863'391 0.27 2'074'849 30.12.2011 Unclassified
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 4'552'000 0.21 69'000 08.03.2012 Investment Advisor
COHEN & STEERS CAPIT Multiple Portfolios MF-AGG 4'160'600 0.19 - 31.12.2011 Investment Advisor
SUMITOMO MITSUI ASSE Multiple Portfolios MF-AGG 3'434'000 0.16 15'000 30.11.2011 Investment Advisor
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 2'616'730 0.12 281'078 31.12.2011 Investment Advisor
GRANTHAM MAYO VAN OT Multiple Portfolios MF-AGG 2'417'500 0.11 (45'000) 31.05.2011 Investment Advisor
RAIFFEISEN KAPITALAN Multiple Portfolios MF-AGG 1'800'000 0.08 - 29.12.2011 Investment Advisor
JP MORGAN CHASE & CO Multiple Portfolios MF-AGG 1'642'482 0.08 (7'000) 31.01.2012 Investment Advisor
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 1'467'000 0.07 (8'000) 30.09.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Standard Chartered LI EVAN outperform 5 M 66 12 month 08.03.2012
Credit Suisse EDWIN PANG neutral 3 M 62 Not Provided 08.03.2012
JPMorgan ELAINE WU overweight 5 M 69 3 month 08.03.2012
Bank of China International PETER YAO hold 3 M 62 Not Provided 08.03.2012
DBS Vickers JUNE NG hold 3 M 61 12 month 08.03.2012
Nomura IVAN LEE buy 5 M 57 Not Provided 08.03.2012
Mirae Asset Securities RICKY NG hold 3 M 61 12 month 08.03.2012
RBS JENNY COSGROVE hold 3 M 59 12 month 07.03.2012
Morgan Stanley SIMON H Y LEE Equalwt/In-Line 3 M 58 12 month 07.03.2012
Sanford C. Bernstein & Co MICHAEL W PARKER market perform 3 M 50 12 month 07.03.2012
Deutsche Bank ERIC CHENG hold 3 M 58 12 month 20.02.2012
Macquarie ADAM WORTHINGTON neutral 3 M 57 12 month 19.01.2012
EVA Dimensions TEAM COVERAGE hold 3 U #N/A N/A Not Provided 07.01.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 60 Not Provided 14.12.2011
Citi PIERRE LAU buy 5 M 69 Not Provided 04.10.2011
Goldman Sachs FRANKLIN CHOW neutral/neutral 3 M 64 12 month 01.09.2011
Daiwa Securities Capital Markets Co. DAVE DAI outperform 5 N 68 Not Provided 12.08.2011
Holdings By:
Power Assets Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Sino Land Company Limited, through its subsidiaries, develops and invests in
properties, trades and invests in securities, and provides financing services.
The Company also operates hotels and provides building management services.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (18.01.2013) 15.60
52-Week Low (04.06.2012) 10.10
Daily Volume
13.64
52-Week High % Change -12.56% Dividend Yield 3.37
52-Week Low % Change 35.05% Beta 1.13
% 52 Week Price Range High/Low 57.45% Equity Float 2'527.03
Shares Out 10.12.2012 5'940.2 Short Int -
81'024.55 1 Yr Total Return 2.21%
Total Debt 10'008.88 YTD Return -2.15%
Preferred Stock 0.0 Adjusted BETA 1.135
Minority Interest 686.0 Analyst Recs 21
Cash and Equivalents 5'613.29 Consensus Rating 3.952
Enterprise Value 86'106.15
Average Volume 5 Day 8'330'243
83 HK EQUITY YTD Change - Average Volume 30 Day 7'792'854
83 HK EQUITY YTD % CHANGE - Average Volume 3 Month 6'502'429
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
6'251.1 9'692.7 7'697.9 5'944.2 8'395.8 - - 7'107.1 11'576.5 - -
14.01x 7.48x 10.85x 12.26x 8.79x - - 11.77x 6.79x - -
2'629.0 4'377.2 3'771.4 3'025.5 4'033.1 - - 3'389.8 5'272.8 - -
33.30x 16.55x 22.14x 24.08x 18.29x - - 25.40x 16.33x - -
7'721.0 3'730.6 6'093.7 10'544.3 9'910.6 - - 6'314.8 5'934.8 - -
9.62x 16.66x 11.21x 6.08x 6.87x - - 12.99x 13.64x - -
EBITDA 4'033.06 Long-Term Rating Date -
EBIT 3'937.13 Long-Term Rating -
Operating Margin 46.89% Long-Term Outlook -
Pretax Margin 134.52% Short-Term Rating Date -
Return on Assets 8.93% Short-Term Rating -
Return on Common Equity 11.63%
Return on Capital 10.25% EBITDA/Interest Exp. 18.44
Asset Turnover 0.08% (EBITDA-Capex)/Interest Exp. 17.25
Net Debt/EBITDA 1.09
Gross Margin 53.1% Total Debt/EBITDA 2.48
EBITDA Margin 48.0%
EBIT Margin 46.9% Total Debt/Equity 11.2%
Net Income Margin 118.0% Total Debt/Capital 10.0%
Asset Turnover 0.08
Current Ratio 4.83 Net Fixed Asset Turnover 0.16
Quick Ratio 1.04 Accounts receivable turnover-days 62.15
Debt to Assets 8.85% Inventory Days 2199.70
Tot Debt to Common Equity 11.16% Accounts Payable Turnover Day 21.07
Accounts Receivable Turnover 5.89 Cash Conversion Cycle 2240.78
Inventory Turnover 0.17
Fiscal Year Ended
Sino Land Co LtdPrice/Volume
Valuation Analysis
7'879'129.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TSIM SHA TSUI PROPER n/a EXCH 1'354'753'892 23.01 - 08.12.2011 Corporation
SPANGLE INVESTMENT L n/a EXCH 365'299'181 6.2 - 08.12.2011 Investment Advisor
KA FAI LAND INVESTME n/a EXCH 320'084'804 5.44 - 08.12.2011 Investment Advisor
SOLID CAPITAL HOLDIN n/a EXCH 257'888'730 4.38 - 30.03.2010 Holding Company
BRIGHTER INVESTMENT n/a EXCH 254'563'330 4.32 - 08.12.2011 Investment Advisor
MAILCOACH INVESTMENT n/a EXCH 153'905'885 2.61 - 08.12.2011 Investment Advisor
CRENSHAW INVESTMENT n/a EXCH 153'372'974 2.6 - 08.12.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 138'186'105 2.35 (11'220'912) 31.12.2011 Investment Advisor
PUI CHEE ENTERPRISES n/a EXCH 101'847'979 1.73 - 08.12.2011 Other
TENG FONG NG n/a EXCH 90'287'083 1.53 - 08.12.2011 n/a
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 72'078'380 1.22 (1'212'200) 30.06.2011 Investment Advisor
SAVANNA INVESTMENT L n/a EXCH 64'798'883 1.1 - 08.12.2011 Investment Advisor
ACCOMPLISHMENT INVES n/a EXCH 51'906'778 0.88 - 08.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 48'391'550 0.82 24'699'177 31.10.2011 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 48'296'366 0.82 (1) 31.12.2011 Investment Advisor
MYSTIQUE INVESTMENT n/a EXCH 44'183'953 0.75 - 08.12.2011 Investment Advisor
ORCHARD CENTRE HOLDI n/a EXCH 42'112'235 0.72 - 08.12.2011 Holding Company
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 38'608'599 0.66 (30'000) 08.03.2012 Investment Advisor
RAMAGE INVESTMENT LT n/a EXCH 33'473'488 0.57 - 08.12.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 30'953'096 0.53 1'021'406 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Standard Chartered PAUL YAU underperform 1 M 13 12 month 29.02.2012
Credit Suisse CUSSON LEUNG neutral 3 D 13 Not Provided 29.02.2012
JPMorgan AMY LUK overweight 5 M 15 12 month 29.02.2012
Macquarie DAVID NG outperform 5 M 16 12 month 29.02.2012
DBS Vickers JEFF YAU buy 5 M 16 12 month 29.02.2012
CLSA Asia Pacific Markets SUSANNA LEUNG underperform 1 M 14 Not Provided 29.02.2012
Deutsche Bank TONY TSANG buy 5 M 16 12 month 28.02.2012
Goldman Sachs ANTHONY WU buy/attractive 5 M 13 12 month 28.02.2012
Citi KEN YEUNG buy 5 M 19 Not Provided 28.02.2012
HSBC PERVEEN WONG neutral 3 D 14 Not Provided 28.02.2012
Daiwa Securities Capital Markets Co. JONAS KAN buy 5 M 14 Not Provided 28.02.2012
Nomura PAUL LOUIE buy 5 M 18 Not Provided 28.02.2012
CCB International Securities Ltd EDMOND CHAN outperform 5 M 16 Not Provided 28.02.2012
BOCOM International Holdings ALFRED LAU neutral 3 M 12 12 month 27.02.2012
Mirae Asset Securities KEITH YEUNG hold 3 M 13 12 month 22.02.2012
Citic Securities Co., Ltd ADRIAN NGAN overweight 5 D 16 6 month 07.02.2012
EVA Dimensions TEAM COVERAGE underweight 1 M #N/A N/A Not Provided 31.01.2012
UOB Kay Hian SYLVIA WONG hold 3 U 11 Not Provided 03.01.2012
Barclays Capital ANDREW LAWRENCE underwt/negative 1 D 10 Not Provided 02.11.2011
Bank of China International VENANT CHIANG buy 5 N 12 Not Provided 11.10.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 12 Not Provided 02.09.2011
Haitong International Securities KATIE CHAN buy 5 M 16 12 month 30.05.2011
RBS FAN TSO hold 3 M 13 12 month 24.05.2011
Holdings By:
Sino Land Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Sun Hung Kai Properties Limited, through its subsidiaries, develops and invests
in properties. The Company also operates hotels, manages properties, car
parking and transportation infrastructure. In addition, Sun Hung Kai operates
logistics business, construction, financial services, telecommunication Internet
infrastructure and enabling services.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (24.01.2013) 130.80
52-Week Low (18.05.2012) 85.30
Daily Volume
119
52-Week High % Change -9.02% Dividend Yield 2.82
52-Week Low % Change 39.51% Beta 0.99
% 52 Week Price Range High/Low 70.33% Equity Float 2'138.87
Shares Out 31.01.2013 2'656.9 Short Int -
316'173.75 1 Yr Total Return 4.41%
Total Debt 71'266.00 YTD Return 2.41%
Preferred Stock 0.0 Adjusted BETA 0.992
Minority Interest 4'400.0 Analyst Recs 24
Cash and Equivalents 15'049.00 Consensus Rating 4.417
Enterprise Value 376'790.75
Average Volume 5 Day 5'160'435
16 HK EQUITY YTD Change - Average Volume 30 Day 4'808'832
16 HK EQUITY YTD % CHANGE - Average Volume 3 Month 4'625'676
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
24'471.0 34'234.0 33'211.0 62'553.0 68'400.0 - - 63'647.4 69'049.6 - -
12.62x 8.36x 9.55x 5.56x 4.37x - - 5.85x 5.28x - -
11'640.0 15'138.0 14'752.0 22'381.0 26'339.0 - - 26'704.8 28'582.2 - -
26.54x 18.90x 21.50x 15.54x 11.35x - - 14.11x 13.18x - -
27'602.0 10'356.0 30'039.0 48'097.0 43'080.0 - - 22'332.0 22'847.0 - -
9.73x 23.96x 9.17x 6.06x 5.48x - - 14.33x 13.75x - -
EBITDA 26'339.00 Long-Term Rating Date 15.06.2012
EBIT 24'801.00 Long-Term Rating A+
Operating Margin 36.26% Long-Term Outlook NEG
Pretax Margin 71.77% Short-Term Rating Date -
Return on Assets 9.78% Short-Term Rating -
Return on Common Equity 13.18%
Return on Capital 11.37% EBITDA/Interest Exp. 13.52
Asset Turnover 0.16% (EBITDA-Capex)/Interest Exp. 10.37
Net Debt/EBITDA 2.13
Gross Margin 42.8% Total Debt/EBITDA 2.71
EBITDA Margin 38.5%
EBIT Margin 36.3% Total Debt/Equity 20.6%
Net Income Margin 63.0% Total Debt/Capital 16.9%
Asset Turnover 0.16
Current Ratio 3.74 Net Fixed Asset Turnover 0.28
Quick Ratio 0.67 Accounts receivable turnover-days 71.06
Debt to Assets 15.24% Inventory Days 1013.07
Tot Debt to Common Equity 20.56% Accounts Payable Turnover Day 14.12
Accounts Receivable Turnover 5.15 Cash Conversion Cycle 1070.00
Inventory Turnover 0.36
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Sun Hung Kai Properties LtdPrice/Volume
Valuation Analysis
4'074'469.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ADOLFA LTD n/a EXCH 200'309'286 7.66 - 19.01.2012 n/a
BERTANA LTD n/a EXCH 200'309'286 7.66 - 19.01.2012 n/a
CYRIC LTD n/a EXCH 200'309'286 7.66 - 19.01.2012 n/a
ASPORTO LTD n/a EXCH 163'889'416 6.27 - 19.01.2012 n/a
ROSY RESULT LTD n/a EXCH 163'889'416 6.27 - 19.01.2012 n/a
THRIVING TALENT LTD n/a EXCH 163'889'416 6.27 - 19.01.2012 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 22'589'000 0.86 (21'000) 08.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 20'784'723 0.79 2'583'686 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 18'313'657 0.7 6'300'524 30.12.2011 Investment Advisor
ABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 17'919'885 0.69 633'082 31.01.2012 Investment Advisor
SIMBAWEST LTD n/a EXCH 16'465'621 0.63 - 19.01.2012 n/a
STATE STREET GLOBAL Multiple Portfolios MF-AGG 13'743'323 0.53 118'490 30.06.2011 Investment Advisor
CANNIA LTD n/a EXCH 12'298'993 0.47 - 19.01.2012 n/a
ING INVESTMENT MANAG Multiple Portfolios MF-AGG 11'719'670 0.45 1'915'000 31.12.2011 Investment Advisor
COHEN & STEERS CAPIT Multiple Portfolios MF-AGG 10'987'900 0.42 773'889 08.03.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 10'524'000 0.4 4'658'760 31.12.2011 Investment Advisor
MORGAN STANLEY Multiple Portfolios MF-AGG 9'827'350 0.38 52'495 31.12.2011 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 9'140'100 0.35 361'000 30.06.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 9'082'315 0.35 280'679 31.01.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 8'122'200 0.31 (7'000) 08.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TEAM COVERAGE hold 3 U #N/A N/A Not Provided 05.03.2012
Standard Chartered PAUL YAU in-line 3 M 130 12 month 29.02.2012
Credit Suisse CUSSON LEUNG outperform 5 M 127 Not Provided 29.02.2012
JPMorgan LUCIA KWONG overweight 5 M 138 12 month 29.02.2012
Macquarie DAVID NG neutral 3 D 130 12 month 29.02.2012
DBS Vickers JEFF YAU buy 5 M 131 12 month 29.02.2012
Nomura PAUL LOUIE buy 5 M 155 12 month 29.02.2012
UOB Kay Hian SYLVIA WONG hold 3 M 127 Not Provided 29.02.2012
CLSA Asia Pacific Markets NICOLE WONG underperform 1 M 123 Not Provided 29.02.2012
BOCOM International Holdings ALFRED LAU buy 5 M 143 12 month 29.02.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 128 Not Provided 29.02.2012
Deutsche Bank JASON CHING buy 5 M 131 12 month 28.02.2012
Morgan Stanley PRAVEEN K CHOUDHARY Overwt/In-Line 5 M 112 12 month 28.02.2012
Goldman Sachs ANTHONY WU buy/attractive 5 M 132 12 month 28.02.2012
Jefferies CHRISTIE JU buy 5 M 144 12 month 28.02.2012
Citi OSCAR CHOI buy 5 M 166 Not Provided 28.02.2012
HSBC PERVEEN WONG overweight 5 M 136 Not Provided 28.02.2012
Daiwa Securities Capital Markets Co. JONAS KAN buy 5 M 145 Not Provided 28.02.2012
CCB International Securities Ltd EDMOND CHAN outperform 5 M 148 Not Provided 28.02.2012
Mirae Asset Securities KEITH YEUNG reduce 2 D 100 12 month 22.02.2012
Barclays Capital ANDREW LAWRENCE equalwt/negative 3 D 92 Not Provided 02.11.2011
Bank of China International VENANT CHIANG buy 5 N 122 Not Provided 11.10.2011
RBS FAN TSO hold 3 M 131 12 month 24.05.2011
Redford Assets Management Ltd LAM KA KEI buy 5 M 140 Not Provided 09.03.2011
Holdings By:
Sun Hung Kai Properties Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Swire Pacific Limited, through its subsidiaries, operates in the real estate,
aviation, beverage, industrial, marine services, trading, and industrial
businesses.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (04.02.2013) 101.30
52-Week Low (18.05.2012) 81.15
Daily Volume
98.7
52-Week High % Change -2.57% Dividend Yield 3.39
52-Week Low % Change 21.63% Beta 0.81
% 52 Week Price Range High/Low 86.85% Equity Float 638.67
Shares Out 30.08.2012 905.6 Short Int -
146'289.78 1 Yr Total Return 19.72%
Total Debt 39'919.00 YTD Return 2.97%
Preferred Stock 0.0 Adjusted BETA 0.814
Minority Interest 4'917.0 Analyst Recs 14
Cash and Equivalents 3'922.00 Consensus Rating 3.214
Enterprise Value 228'871.77
Average Volume 5 Day 1'060'259
19 HK EQUITY YTD Change - Average Volume 30 Day 1'204'459
19 HK EQUITY YTD % CHANGE - Average Volume 3 Month 1'251'070
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
21'553.0 24'670.0 24'909.0 29'201.0 36'286.0 - - 42'218.0 44'692.4 - -
8.69x 4.04x 6.09x 7.10x 4.49x - - 4.50x 4.29x - -
6'565.0 7'933.0 8'387.0 9'051.0 10'102.0 - - 13'463.9 12'871.9 - -
28.54x 12.57x 18.10x 22.90x 16.12x - - 17.00x 17.78x - -
26'260.0 5'853.0 21'893.0 38'252.0 32'210.0 - - 8'831.6 9'565.0 - -
6.23x 13.79x#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... - - 15.67x 15.66x - -
EBITDA 10'102.00 Long-Term Rating Date 16.08.2005
EBIT 8'435.00 Long-Term Rating A-
Operating Margin 23.25% Long-Term Outlook STABLE
Pretax Margin 94.21% Short-Term Rating Date -
Return on Assets 5.48% Short-Term Rating -
Return on Common Equity 7.84%
Return on Capital 7.03% EBITDA/Interest Exp. 5.72
Asset Turnover 0.13% (EBITDA-Capex)/Interest Exp. 0.10
Net Debt/EBITDA 4.29
Gross Margin 41.1% Total Debt/EBITDA 5.17
EBITDA Margin 26.9%
EBIT Margin 22.3% Total Debt/Equity 17.5%
Net Income Margin 88.8% Total Debt/Capital 14.7%
Asset Turnover 0.13
Current Ratio 0.81 Net Fixed Asset Turnover 0.17
Quick Ratio 0.26 Accounts receivable turnover-days 25.61
Debt to Assets 13.64% Inventory Days 151.56
Tot Debt to Common Equity 17.54% Accounts Payable Turnover Day 33.90
Accounts Receivable Turnover 14.29 Cash Conversion Cycle 134.00
Inventory Turnover 2.41
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Swire Pacific LtdPrice/Volume
Valuation Analysis
1'231'775.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ELHAM LTD n/a EXCH 169'486'500 18.72 - 18.01.2012 Other
ABERDEEN ASSET MANAG n/a EXCH 100'709'651 11.12 - 10.01.2012 Investment Advisor
NORTHERN TRUST CORPO n/a Co File 54'309'430 6 - 31.12.2010 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 45'164'650 4.99 - 05.01.2012 Investment Advisor
JOHN SWIRE & SONS HK n/a EXCH 39'580'357 4.37 - 18.01.2012 Corporation
VANGUARD GROUP INC Multiple Portfolios MF-AGG 15'865'558 1.75 2'279'594 31.12.2011 Investment Advisor
TAIKOO LTD n/a EXCH 12'632'302 1.39 - 18.01.2012 Other
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 11'123'000 1.23 (15'000) 08.03.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 10'642'500 1.18 258'500 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 9'812'544 1.08 (1'489'257) 30.12.2011 Investment Advisor
SHREWSBURY HOLDINGS n/a EXCH 9'140'000 1.01 - 18.01.2012 Holding Company
WALTHAM LTD n/a EXCH 8'152'500 0.9 - 18.01.2012 Corporation
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 7'898'000 0.87 (563'500) 30.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 6'476'171 0.72 78'955 30.06.2011 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 4'610'946 0.51 (15'000) 31.12.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 3'578'000 0.4 3'551'000 31.12.2011 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 3'177'500 0.35 83'000 31.12.2011 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios MF-AGG 3'159'000 0.35 - 31.12.2010 Mutual Fund Manager
GARTMORE GROUP LTD Multiple Portfolios MF-AGG 2'841'500 0.31 60'000 31.01.2012 Investment Advisor
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 2'518'078 0.28 - 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs SIMON CHEUNG Sell/Neutral 1 M 77 12 month 27.02.2012
Morgan Stanley PRAVEEN K CHOUDHARY Equalwt/In-Line 3 M 80 12 month 22.02.2012
Mirae Asset Securities KEITH YEUNG reduce 2 M 69 12 month 22.02.2012
EVA Dimensions TEAM COVERAGE underweight 1 D #N/A N/A Not Provided 20.02.2012
Standard Chartered JOHN Y F CHAN outperform 5 M 93 12 month 18.02.2012
Nomura PAUL LOUIE buy 5 M 117 Not Provided 13.02.2012
RBS PHILIP TULK hold 3 N 82 12 month 03.02.2012
HSBC MARK CARMERON ROSS WEBB overweight 5 M 99 Not Provided 02.02.2012
DBS Vickers JEFF YAU hold 3 M 77 12 month 27.01.2012
Deutsche Bank KAREN TANG hold 3 M 75 12 month 18.01.2012
Citi ANIL DASWANI buy 5 M 90 Not Provided 18.01.2012
JPMorgan BENJAMIN LO neutral 3 M 75 12 month 17.01.2012
CLSA Asia Pacific Markets DANIE SCHUTTE underperform 1 M 87 Not Provided 08.01.2012
Bank of China International VENANT CHIANG buy 5 M 107 Not Provided 06.01.2012
Credit Suisse CUSSON LEUNG neutral 3 M 77 Not Provided 04.01.2012
Jefferies JULIAN BU buy 5 M 95 12 month 04.01.2012
Macquarie CALLUM BRAMAH outperform 5 M 113 12 month 25.11.2011
Holdings By:
Swire Pacific Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Tencent Holdings Limited provides Internet, mobile, and telecommunication
value-added services in China. The Company has an instant messaging community
in China. Tencent also provides online advertising services.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (02.11.2012) 281.00
52-Week Low (07.03.2012) 193.60
Daily Volume
264.2
52-Week High % Change -5.98% Dividend Yield -
52-Week Low % Change 36.47% Beta 1.08
% 52 Week Price Range High/Low 83.98% Equity Float 963.21
Shares Out 31.01.2013 1'854.0 Short Int -
489'821.78 1 Yr Total Return 34.42%
Total Debt 11'732.77 YTD Return 6.10%
Preferred Stock 0.0 Adjusted BETA 1.080
Minority Interest 624.5 Analyst Recs 36
Cash and Equivalents 26'328.18 Consensus Rating 4.194
Enterprise Value 379'150.84
Average Volume 5 Day 3'888'093
700 HK EQUITY YTD Change - Average Volume 30 Day 3'539'893
700 HK EQUITY YTD % CHANGE - Average Volume 3 Month 3'414'291
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 17'810.1 26'097.8 43'763.7 56'467.1 12'095.3 12'867.6
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 53.06x 40.77x 8.58x 6.45x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 6'640.6 9'762.2 18'253.7 22'899.8 4'786.0 5'483.0
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 20.77x 16.56x 17.33x 16.45x
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 7'360.8 9'866.9 12'958.6 16'500.5 3'485.8 4'117.2
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 36.03x 24.87x 29.97x 23.70x 24.20x 22.58x
EBITDA 13'356.97 Long-Term Rating Date 14.11.2011
EBIT 11'417.56 Long-Term Rating BBB+
Operating Margin 40.07% Long-Term Outlook STABLE
Pretax Margin 42.46% Short-Term Rating Date -
Return on Assets 19.55% Short-Term Rating -
Return on Common Equity 36.93%
Return on Capital 28.40% EBITDA/Interest Exp. 184.14
Asset Turnover 0.66% (EBITDA-Capex)/Interest Exp. 128.28
Net Debt/EBITDA -0.89
Gross Margin 65.2% Total Debt/EBITDA 0.76
EBITDA Margin 42.3%
EBIT Margin 35.9% Total Debt/Equity 41.2%
Net Income Margin 35.8% Total Debt/Capital 28.7%
Asset Turnover 0.66
Current Ratio 1.68 Net Fixed Asset Turnover 5.95
Quick Ratio 1.34 Accounts receivable turnover-days 23.66
Debt to Assets 20.65% Inventory Days 4.95
Tot Debt to Common Equity 41.22% Accounts Payable Turnover Day 68.03
Accounts Receivable Turnover 15.47 Cash Conversion Cycle -
Inventory Turnover 73.90
Fiscal Year Ended
Tencent Holdings LtdPrice/Volume
Valuation Analysis
3'479'798.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MIH CHINA BVI LTD n/a EXCH 630'240'380 34.25 - 10.01.2012 n/a
HUATENG MA n/a EXCH 189'892'880 10.32 - 09.01.2012 n/a
JP MORGAN CHASE & CO n/a EXCH 91'396'169 4.97 - 20.01.2011 Investment Advisor
ZHIDONG ZHANG n/a EXCH 66'750'000 3.63 - 10.11.2011 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 52'455'924 2.85 73'899 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 31'769'533 1.73 (4'391'794) 30.12.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 26'348'100 1.43 4'874'800 31.12.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 23'591'000 1.28 1'320'000 31.12.2011 Investment Advisor
WADDELL & REED FINAN Multiple Portfolios MF-AGG 19'274'500 1.05 1'627'000 30.09.2011 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 16'235'000 0.88 441'400 29.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 13'395'500 0.73 8'600 08.03.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 12'053'957 0.66 - 31.12.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 9'832'783 0.53 1'345'000 30.09.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 9'128'700 0.5 3'088'300 31.12.2011 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 9'004'995 0.49 125'010 30.06.2011 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 4'912'100 0.27 854'200 29.07.2011 Mutual Fund Manager
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 4'757'189 0.26 (52'860) 31.12.2011 Investment Advisor
MANNING & NAPIER ADV Multiple Portfolios MF-AGG 4'336'700 0.24 26'200 31.01.2012 Investment Advisor
CHI PING LAU n/a EXCH 3'753'600 0.2 (50'000) 07.09.2011 n/a
FIRST STATE INVESTME Multiple Portfolios MF-AGG 3'420'800 0.19 - 31.10.2011 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies CYNTHIA JINHONG MENG hold 3 M 190 12 month 09.03.2012
Credit Suisse WALLACE CHEUNG outperform 5 M 234 Not Provided 07.03.2012
Bank of China International JOHNIE HU hold 3 M 191 Not Provided 07.03.2012
Daiwa Securities Capital Markets Co. ALICIA HU buy 5 M 230 Not Provided 07.03.2012
Brean Murray Carret & Co FAWNE JIANG buy 5 M 225 12 month 06.03.2012
Nomura JIN YOON reduce 2 M 146 Not Provided 06.03.2012
CCB International Securities Ltd JONATHAN CHAN outperform 5 M 240 Not Provided 01.03.2012
Mirae Asset Securities ERIC WEN hold 3 M 180 12 month 27.02.2012
Standard Chartered DON SEE outperform 5 M 232 12 month 22.02.2012
ICBC International Securities KARY SEI hold 3 D 217 Not Provided 17.02.2012
CLSA Asia Pacific Markets ELINOR LEUNG buy 5 M 260 Not Provided 16.02.2012
OSK (Asia) Securities BILLY LEUNG buy 5 M 218 12 month 15.02.2012
BOCOM International Holdings CONNIE XINYU GU buy 5 M 200 12 month 13.02.2012
Barclays Capital ALICIA YAP equalwt/positive 3 M 193 Not Provided 09.02.2012
Goldman Sachs CATHERINE LEUNG neutral/neutral 3 M 200 12 month 07.02.2012
CIMB MICHAEL TING outperform 5 M 227 12 month 06.02.2012
China International Capital Corp JIN YU buy 5 M 220 12 month 01.02.2012
Piper Jaffray MARK A MAROSTICA overweight 5 M 216 12 month 30.01.2012
Core Pacific KEVIN TAM buy 5 M 206 12 month 16.01.2012
Susquehanna Financial Group C MING ZHAO Positive 4 M 225 12 month 13.01.2012
Mizuho Securities MARVIN LO underperform 1 M 125 12 month 29.12.2011
EVA Dimensions TEAM COVERAGE hold 3 D #N/A N/A Not Provided 28.12.2011
Citi RAVI SARATHY buy 5 M 237 Not Provided 14.12.2011
Ji Asia JUSTIN WEISS neutral 3 M #N/A N/A Not Provided 09.12.2011
Wedge Partners JUAN LIN no rating system #N/A N/A M #N/A N/A Not Provided 08.12.2011
Deutsche Bank ALAN HELLAWELL buy 5 M 195 12 month 01.12.2011
Guotai Junan DUNDAS DENG buy 5 N 180 Not Provided 17.11.2011
First Shanghai Securities Ltd TSOI HO buy 5 M 210 12 month 11.11.2011
RBS WENDY HUANG buy 5 M 248 12 month 10.11.2011
JPMorgan DICK WEI overweight 5 M 230 9 month 10.11.2011
Yuanta Securities Investment ConsultingKELVIN HO buy 5 M 229 Not Provided 10.11.2011
Macquarie JIONG SHAO underperform 1 M 135 12 month 10.11.2011
DBS Vickers BILL HUANG buy 5 M 220 12 month 10.11.2011
SWS Research Co Ltd JIM TANG neutral 3 U 156 Not Provided 10.11.2011
Morgan Stanley RICHARD W JI Overwt/Attractive 5 M 210 12 month 09.11.2011
Capital Securities Corp TEAM COVERAGE buy 5 M 225 12 month 15.08.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 220 Not Provided 11.08.2011
Pacific Crest Securities STEVE WEINSTEIN outperform 5 M 285 12 month 02.08.2011
Mega Securities TIMOTHY LI hold 3 D 185 12 month 23.03.2010
PingAn Securities ZHONGZHI LI strong buy 5 M 188 6 month 29.01.2010
Holdings By:
Tencent Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Tingyi (Cayman Islands) Holding Corporation, through its subsidiaries,
manufactures and sells instant noodles, baked goods, and beverages in China.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (14.03.2012) 25.05
52-Week Low (29.05.2012) 17.90
Daily Volume
20.45
52-Week High % Change -18.36% Dividend Yield 1.42
52-Week Low % Change 14.25% Beta 0.56
% 52 Week Price Range High/Low 39.16% Equity Float 1'870.46
Shares Out 31.01.2013 5'593.4 Short Int -
114'384.16 1 Yr Total Return -6.68%
Total Debt 1'250.08 YTD Return -5.10%
Preferred Stock 0.0 Adjusted BETA 0.562
Minority Interest 586.5 Analyst Recs 36
Cash and Equivalents 590.95 Consensus Rating 3.306
Enterprise Value 15'725.23
Average Volume 5 Day 5'517'238
322 HK EQUITY YTD Change - Average Volume 30 Day 6'171'453
322 HK EQUITY YTD % CHANGE - Average Volume 3 Month 5'911'497
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 6'352.2 7'716.2 9'605.4 11'363.5 2'030.2 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 8.84x 7.82x 1.63x 1.36x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 912.2 1'043.0 1'207.9 1'442.4 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 16.83x 13.95x 13.02x 10.90x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 454.5 438.3 473.8 588.4 91.9 -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 33.88x 31.42x 31.76x 25.11x - -
EBITDA 902.56 Long-Term Rating Date 05.06.2012
EBIT 581.32 Long-Term Rating BBB+
Operating Margin 7.39% Long-Term Outlook STABLE
Pretax Margin 8.43% Short-Term Rating Date -
Return on Assets 7.31% Short-Term Rating -
Return on Common Equity 22.15%
Return on Capital 16.15% EBITDA/Interest Exp. 70.12
Asset Turnover 1.32% (EBITDA-Capex)/Interest Exp. -39.63
Net Debt/EBITDA -0.02
Gross Margin 26.5% Total Debt/EBITDA 1.20
EBITDA Margin 13.3%
EBIT Margin 9.0% Total Debt/Equity 59.5%
Net Income Margin 5.3% Total Debt/Capital 31.8%
Asset Turnover 1.32
Current Ratio 0.59 Net Fixed Asset Turnover 1.99
Quick Ratio 0.31 Accounts receivable turnover-days 11.38
Debt to Assets 21.52% Inventory Days 22.41
Tot Debt to Common Equity 59.53% Accounts Payable Turnover Day 78.48
Accounts Receivable Turnover 32.15 Cash Conversion Cycle -38.75
Inventory Turnover 16.33
Fiscal Year Ended
Tingyi Cayman Islands Holding CorpPrice/Volume
Valuation Analysis
11'091'246.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SANYO FOODS CO LTD n/a Co File 1'854'827'866 33.18 - 30.09.2011 Corporation
TING HSIN CAYMAN ISL n/a EXCH 1'854'827'866 33.18 (4'948'500) 17.01.2012 Corporation
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 106'963'000 1.91 - 31.12.2011 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 96'134'000 1.72 (1'244'000) 29.12.2011 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 86'020'000 1.54 - 31.12.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 72'310'878 1.29 329'910 31.12.2011 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 54'193'000 0.97 (474'000) 30.12.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 27'540'000 0.49 - 31.01.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 24'638'000 0.44 20'000 08.03.2012 Investment Advisor
ARTIO GLOBAL MANAGEM Multiple Portfolios MF-AGG 19'113'495 0.34 (1'545'162) 31.10.2011 Investment Advisor
JP MORGAN CHASE & CO Multiple Portfolios MF-AGG 13'404'000 0.24 1'506'000 31.01.2012 Investment Advisor
ING-CHOU WEI n/a EXCH 13'242'000 0.24 - 17.01.2012 n/a
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 12'524'000 0.22 (3'584'000) 31.10.2011 Investment Advisor
AGF INVESTMENTS INC Multiple Portfolios MF-AGG 11'693'578 0.21 514'300 30.09.2011 Investment Advisor
RCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 9'234'000 0.17 (444'000) 31.01.2012 Investment Advisor
MIRAE ASSET INVESTME Multiple Portfolios MF-AGG 8'767'000 0.16 (3'694'000) 30.09.2011 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 6'884'000 0.12 6'884'000 30.09.2011 Mutual Fund Manager
FIRST STATE INVESTME Multiple Portfolios MF-AGG 6'646'000 0.12 - 31.10.2011 Mutual Fund Manager
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 6'264'000 0.11 (504'000) 30.11.2011 Investment Advisor
JPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 5'552'000 0.1 - 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Standard Chartered CHARLES YAN outperform 5 M 28 12 month 09.03.2012
Nomura EMMA LIU reduce 2 M 17 Not Provided 05.03.2012
EVA Dimensions TEAM COVERAGE underweight 1 U #N/A N/A Not Provided 05.03.2012
Citic Securities Co., Ltd MOHAN SINGH sell 1 N 21 6 month 29.02.2012
Piper Jaffray ANSON CHAN neutral 3 M 22 12 month 27.02.2012
Goldman Sachs LISA DENG Buy/Neutral 5 M 27 12 month 23.02.2012
ICBC International Securities ALEX CHENG hold 3 M 23 Not Provided 06.02.2012
DBS Vickers TITUS WU hold 3 M 20 12 month 27.01.2012
CLSA Asia Pacific Markets XIAOPO WEI underperform 1 M 24 Not Provided 06.01.2012
Oriental Patron Securities Ltd LAWRENCE CHOR buy 5 N 28 12 month 05.01.2012
China International Capital Corp PAUL FEIYANG YUAN accumulate 4 M 26 12 month 31.12.2011
KGI Securities MICHELLE CHEN neutral 3 M 24 12 month 21.12.2011
Jefferies JESSIE GUO hold 3 M 23 12 month 20.12.2011
Religare Capital Markets KA LEONG LO buy 5 N 30 12 month 06.12.2011
Capital Securities Corp TRACY SUN hold 3 M 22 12 month 18.11.2011
First Shanghai Securities Ltd CHRISTINA LIE hold 3 M 20 12 month 17.11.2011
BNP Paribas Equity Research CHARLIE Y CHEN buy 5 M 26 12 month 16.11.2011
Deutsche Bank MABEL WONG hold 3 M 23 12 month 15.11.2011
Macquarie GARY PINGE underperform 1 M 17 12 month 15.11.2011
Bank of China International JENNY CHAN buy 5 M 24 Not Provided 15.11.2011
Kim Eng Securities JACQUELINE KO hold 3 M 23 12 month 15.11.2011
Guotai Junan SUNNY KWOK accumulate 4 U 24 Not Provided 15.11.2011
Mirae Asset Securities SELINA SIA reduce 2 M 15 12 month 15.11.2011
Barclays Capital VINEET SHARMA equalwt/neutral 3 M 19 Not Provided 15.11.2011
Morgan Stanley ANGELA MOH Equalwt/Attractive 3 M 23 12 month 14.11.2011
Credit Suisse KEVIN YIN restricted #N/A N/A M #N/A N/A Not Provided 08.11.2011
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 23 Not Provided 07.11.2011
JPMorgan KURUMLU EBRU SENER restricted #N/A N/A M #N/A N/A Not Provided 04.11.2011
Daiwa Securities Capital Markets Co. BING ZHOU buy 5 M 27 Not Provided 26.10.2011
RBS LEI YANG hold 3 M 20 12 month 20.10.2011
Citi JASMINE BAI neutral 3 D 22 Not Provided 17.10.2011
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 05.09.2011
SWS Research Co Ltd WANG HAITAO neutral 3 M 23 Not Provided 24.08.2011
CIMB TEAM COVERAGE underperform 1 M 16 12 month 16.09.2010
Holdings By:
Tingyi Cayman Islands Holding Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Want Want China Holdings Limited manufactures and trades rice crackers, snack
food, beverages, and packing materials. The Company also manufactures wheat,
flour, and raw materials for the manufacture of snack foods. Most of the
company's production facilities are located in China and Taiwan.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (05.11.2012) 11.68
52-Week Low (27.02.2012) 7.18
Daily Volume
10.66
52-Week High % Change -8.73% Dividend Yield 1.64
52-Week Low % Change 48.47% Beta 0.63
% 52 Week Price Range High/Low 76.44% Equity Float 5'608.11
Shares Out 30.09.2012 13'227.7 Short Int -
141'007.70 1 Yr Total Return 50.43%
Total Debt 1'024.62 YTD Return -0.19%
Preferred Stock 0.0 Adjusted BETA 0.629
Minority Interest 2.8 Analyst Recs 34
Cash and Equivalents 1'437.36 Consensus Rating 3.765
Enterprise Value 17'920.00
Average Volume 5 Day 16'407'890
151 HK EQUITY YTD Change - Average Volume 30 Day 16'447'390
151 HK EQUITY YTD % CHANGE - Average Volume 3 Month 15'649'620
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/11 Q3 12/11 Q4
1'094.5 1'553.9 1'710.9 2'244.1 2'946.5 0.0 282.2 3'529.4 4'308.5 - -
- 3.45x 5.22x 5.04x - #DIV/0! 0.00x 5.05x 4.12x - -
265.6 333.9 398.6 500.1 - 0.0 0.0 797.7 998.6 - -
- 16.04x 22.39x 22.63x - 0.00x 0.00x 22.47x 17.95x - -
176.7 262.7 312.6 358.4 419.5 0.0 41.5 550.3 684.5 - -
- 20.71x 29.60x 32.33x 31.18x 0.00x 0.00x 33.52x 26.94x - -
EBITDA 594.04 Long-Term Rating Date -
EBIT 521.74 Long-Term Rating -
Operating Margin 17.71% Long-Term Outlook -
Pretax Margin 18.27% Short-Term Rating Date -
Return on Assets 16.64% Short-Term Rating -
Return on Common Equity 38.99%
Return on Capital 21.01% EBITDA/Interest Exp. 56.76
Asset Turnover 1.10% (EBITDA-Capex)/Interest Exp. 35.42
Net Debt/EBITDA -0.36
Gross Margin 34.8% Total Debt/EBITDA 1.74
EBITDA Margin 23.1%
EBIT Margin 19.3% Total Debt/Equity 77.1%
Net Income Margin 14.2% Total Debt/Capital 43.5%
Asset Turnover 1.10
Current Ratio 1.39 Net Fixed Asset Turnover 3.25
Quick Ratio 1.05 Accounts receivable turnover-days 8.23
Debt to Assets 32.80% Inventory Days 74.36
Tot Debt to Common Equity 77.05% Accounts Payable Turnover Day 31.46
Accounts Receivable Turnover 44.48 Cash Conversion Cycle 51.18
Inventory Turnover 4.92
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Want Want China Holdings LtdPrice/Volume
Valuation Analysis
14'986'051.00
Current Price (2/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ENG-MENG TSAI n/a EXCH 6'343'843'100 47.99 (100'000'000) 06.08.2011 n/a
IWATSUKA CONFECTIONE n/a Co File 616'434'480 4.66 - 31.03.2011 Corporation
MR BIG LTD n/a EXCH 299'490'000 2.27 - 13.02.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 220'760'994 1.67 1'644'466 31.12.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 219'263'517 1.66 (19'216'992) 31.01.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 218'122'008 1.65 - 29.12.2011 Investment Advisor
WEN-HSIEN CHENG n/a EXCH 158'625'490 1.2 - 13.02.2012 n/a
TSAI WANG-CHIA n/a EXCH 100'031'500 0.76 10'500 01.04.2011 n/a
SHAO-CHUNG TSAI n/a Co File 100'000'000 0.76 - 31.12.2010 n/a
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 90'350'000 0.68 (29'698'000) 31.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 81'750'000 0.62 49'000 08.03.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 70'530'604 0.53 (1'469'396) 30.09.2011 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 52'625'000 0.4 28'276'000 30.09.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 47'588'153 0.36 37'198'153 30.12.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 30'678'400 0.23 (1'171'000) 08.03.2012 Investment Advisor
COLUMBIA WANGER ASSE Multiple Portfolios MF-AGG 25'472'200 0.19 (404'000) 30.12.2011 Investment Advisor
GUARDIAN INVESTOR SE Multiple Portfolios MF-AGG 22'669'000 0.17 (1'594'000) 31.12.2011 Investment Advisor
JP MORGAN CHASE & CO Multiple Portfolios MF-AGG 20'314'000 0.15 - 31.01.2012 Investment Advisor
DRIEHAUS CAPITAL MAN Multiple Portfolios MF-AGG 18'755'711 0.14 - 30.12.2011 Hedge Fund Manager
INVESCO LTD Multiple Portfolios MF-AGG 17'588'000 0.13 2'148'000 09.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Standard Chartered CHARLES YAN outperform 5 M 10 12 month 09.03.2012
Nomura EMMA LIU neutral 3 M 8 12 month 09.03.2012
BOCOM International Holdings SUMMER WANG long-term buy 5 N 10 12 month 09.03.2012
CLSA Asia Pacific Markets XIAOPO WEI buy 5 M 10 Not Provided 08.03.2012
Credit Suisse KEVIN YIN neutral 3 M 8 Not Provided 07.03.2012
JPMorgan JESSICA HONG neutral 3 M 7 9 month 07.03.2012
Capital Securities Corp TRACY SUN hold 3 N 9 12 month 07.03.2012
KGI Securities MICHELLE CHEN neutral 3 M 8 12 month 07.03.2012
Macquarie GARY PINGE outperform 5 M 10 12 month 07.03.2012
Bank of China International JENNY CHAN hold 3 M 8 Not Provided 07.03.2012
DBS Vickers TITUS WU hold 3 M 7 12 month 07.03.2012
Kim Eng Securities JACQUELINE KO buy 5 M 9 12 month 07.03.2012
China International Capital Corp PAUL FEIYANG YUAN hold 3 M 7 12 month 07.03.2012
SWS Research Co Ltd SEAN ZHANG outperform 5 M 9 Not Provided 07.03.2012
Mirae Asset Securities SELINA SIA reduce 2 M 7 12 month 07.03.2012
SinoPac VIVIEN CHAN neutral 3 M 8 12 month 07.03.2012
ICBC International Securities ALEX CHENG buy 5 M 9 Not Provided 07.03.2012
RBS LEI YANG buy 5 M 9 12 month 06.03.2012
Morgan Stanley LILLIAN LOU Overwt/Attractive 5 M 8 12 month 06.03.2012
Goldman Sachs LISA DENG neutral/neutral 3 M 8 12 month 06.03.2012
Jefferies JESSIE GUO hold 3 M 7 12 month 06.03.2012
Citi JASMINE BAI buy 5 U 9 Not Provided 06.03.2012
Religare Capital Markets KA LEONG LO buy 5 U 9 12 month 06.03.2012
Piper Jaffray ANSON CHAN overweight 5 M 9 12 month 06.03.2012
Barclays Capital VINEET SHARMA equalwt/neutral 3 M 7 Not Provided 06.03.2012
EVA Dimensions TEAM COVERAGE hold 3 U #N/A N/A Not Provided 05.03.2012
Citic Securities Co., Ltd RAYMOND LEUNG overweight 5 M 8 6 month 17.11.2011
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 05.09.2011
BNP Paribas Equity Research CHARLIE Y CHEN hold 3 M 6 12 month 26.08.2011
Everbright Securities Co., Ltd DONGLIANG CHANG hold 3 N 7 6 month 21.07.2011
Phillip Securities BING WANG hold 3 D 7 12 month 17.03.2011
CIMB TEAM COVERAGE underperform 1 M 5 12 month 16.09.2010
Holdings By:
Want Want China Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
The Wharf Holdings Limited, through its subsidiaries, develops and invests
in real estate properties. The Company also owns and manages hotels and
operates logistics business. In addition, the Wharf operates telecommunication
business, cable television and Internet-related businesses.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (01.02.2013) 71.00
52-Week Low (04.06.2012) 39.00
Daily Volume
66.1
52-Week High % Change -6.90% Dividend Yield 1.74
52-Week Low % Change 69.49% Beta 1.18
% 52 Week Price Range High/Low 79.06% Equity Float 1'483.21
Shares Out 30.06.2012 3'029.2 Short Int -
200'233.25 1 Yr Total Return 44.92%
Total Debt 75'993.00 YTD Return 9.08%
Preferred Stock 0.0 Adjusted BETA 1.178
Minority Interest 7'617.0 Analyst Recs 21
Cash and Equivalents 32'528.00 Consensus Rating 4.238
Enterprise Value 261'289.24
Average Volume 5 Day 4'324'754
4 HK EQUITY YTD Change - Average Volume 30 Day 4'419'685
4 HK EQUITY YTD % CHANGE - Average Volume 3 Month 4'374'310
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/11 Q4 03/12 Q1
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0 3'964 32'111 32'925 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... #DIV/0! 0.00x 8.23x 8.13x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 0.0 16'434.0 16'612.4 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 15.90x 15.73x - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.0 3'117.0 10'718.6 11'410.3 - -
#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data...#N/A Requesting Data... 0.00x 0.00x 18.77x 17.67x - -
EBITDA 12'395.00 Long-Term Rating Date 22.06.2010
EBIT 11'000.00 Long-Term Rating NR
Operating Margin 45.83% Long-Term Outlook -
Pretax Margin 144.31% Short-Term Rating Date -
Return on Assets 12.96% Short-Term Rating -
Return on Common Equity 19.41%
Return on Capital 14.93% EBITDA/Interest Exp. 9.66
Asset Turnover 0.11% (EBITDA-Capex)/Interest Exp. 0.35
Net Debt/EBITDA 3.40
Gross Margin - Total Debt/EBITDA 4.61
EBITDA Margin 48.2%
EBIT Margin 43.8% Total Debt/Equity 37.4%
Net Income Margin 127.3% Total Debt/Capital 26.5%
Asset Turnover 0.11
Current Ratio 2.73 Net Fixed Asset Turnover 0.16
Quick Ratio 1.09 Accounts receivable turnover-days 9.63
Debt to Assets 23.90% Inventory Days -
Tot Debt to Common Equity 37.39% Accounts Payable Turnover Day -
Accounts Receivable Turnover 38.02 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Wharf Holdings LtdPrice/Volume
Valuation Analysis
4'124'755.00
Current Price (2/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
27.02.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
WF INVESTMENT PARTNE n/a EXCH 1'302'017'536 42.98 - 25.07.2011 n/a
LYNCHPIN LTD n/a EXCH 213'267'072 7.04 - 25.07.2011 n/a
JP MORGAN CHASE & CO n/a EXCH 152'746'812 5.04 - 29.07.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 30'049'314 0.99 (2'545'904) 30.12.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 23'497'987 0.78 (25'000) 08.03.2012 Investment Advisor
THIRD AVENUE MANAGEM Multiple Portfolios MF-AGG 16'715'789 0.55 (13'061'000) 31.10.2011 Hedge Fund Manager
VANGUARD GROUP INC Multiple Portfolios MF-AGG 14'499'364 0.48 225'847 31.12.2011 Investment Advisor
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 13'829'100 0.46 - 31.01.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 13'539'683 0.45 1'372'201 30.06.2011 Investment Advisor
BLACKROCK INVESTMENT Multiple Portfolios MF-AGG 10'551'991 0.35 (52'900) 30.11.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 8'396'585 0.28 53'000 31.01.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 7'366'134 0.24 (5'000) 08.03.2012 Investment Advisor
COHEN & STEERS CAPIT Multiple Portfolios MF-AGG 7'126'053 0.24 887'100 08.03.2012 Investment Advisor
AGF INVESTMENTS INC Multiple Portfolios MF-AGG 6'879'898 0.23 873'780 30.09.2011 Investment Advisor
BLACKROCK ADVISERS Multiple Portfolios MF-AGG 6'058'347 0.2 216'200 31.12.2011 Investment Advisor
MORGAN STANLEY Multiple Portfolios MF-AGG 6'023'587 0.2 (542'498) 31.12.2011 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios MF-AGG 5'846'000 0.19 - 31.12.2010 Mutual Fund Manager
INVESCO LTD Multiple Portfolios MF-AGG 4'762'437 0.16 (163'625) 09.03.2012 Investment Advisor
GENERAL ELECTRIC COM Multiple Portfolios MF-AGG 4'432'743 0.15 252'675 31.12.2011 Corporation
TIAA CREF INVESTMENT Multiple Portfolios MF-AGG 4'264'462 0.14 22'000 31.01.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Citi ANIL DASWANI buy 5 M 54 Not Provided 07.03.2012
Deutsche Bank KAREN TANG hold 3 D 49 12 month 01.03.2012
Goldman Sachs SIMON CHEUNG Buy/Neutral 5 M 56 12 month 27.02.2012
Morgan Stanley PRAVEEN K CHOUDHARY Overwt/In-Line 5 M 44 12 month 22.02.2012
Mirae Asset Securities KEITH YEUNG buy 5 M 56 12 month 22.02.2012
Standard Chartered JOHN Y F CHAN outperform 5 M 50 12 month 18.02.2012
JPMorgan AMY LUK neutral 3 M 44 12 month 16.02.2012
Nomura PAUL LOUIE neutral 3 M 49 Not Provided 13.02.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 31.01.2012
DBS Vickers JEFF YAU buy 5 M 47 12 month 27.01.2012
UOB Kay Hian SYLVIA WONG sell 1 D 32 Not Provided 19.01.2012
CLSA Asia Pacific Markets SUSANNA LEUNG buy 5 U 47 Not Provided 09.01.2012
Credit Suisse CUSSON LEUNG outperform 5 M 46 Not Provided 05.01.2012
Daiwa Securities Capital Markets Co. JONAS KAN buy 5 M 57 Not Provided 03.01.2012
Macquarie CALLUM BRAMAH outperform 5 M 61 12 month 22.11.2011
HSBC STEPHEN WAN overweight 5 U 50 Not Provided 20.11.2011
CCB International Securities Ltd EDMOND CHAN outperform 5 M 58 Not Provided 26.08.2011
Jefferies JULIAN BU buy 5 M 60 12 month 25.08.2011
Holdings By:
Wharf Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |