Want Want China Holdings Ltd.

6.45 HKD
-0.24
-3.59%

China
Apr 20, 2018
Ticker
HKG(151)
Prev. close
6.69
Market cap (HKD)
83,285.70M
Market cap (USD)
10,615M
Shares
12,449.30M

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See more articles on Want Want China Holdings Ltd.

Company Background

Want Want China Holdings is a Taiwanese confectionery company headquartered in Shanghai, China. It offers a wide array of products ranging from snack foods such as gummies to baby milk powder and other dairy products. It holds an about 80% share of the rice cracker market, taking advantage of technical assistance provided by the Japanese company Iwatsuka Confectionery. Want Want China was listed on the Hong Kong Stock Exchange in 2008.

The predecessor of Want Want China was a Taiwan-based food manufacturing factory opened in 1962 by the father of Tsai Eng-meng, Want Want China's current chairman. At the age of 19, Tsai succeeded his father in the business. When he was 24, he visited Japan to meet Iwatsuka's founder Keisaku Maki to ask for technical assistance. Want Want China started growing dramatically from 1983, when Maki agreed to provide technical support.

Rice crackers are the company's core business. Technical staff sent by Iwatsuka guide employees on how to select materials and manage facilities. Implementation of strict quality control has helped the company gain customer confidence in China, where food safety problems have often occurred.

Want Want China has more than 100 factories and over 300 sales offices throughout China. With a sales force of more than 10,000, the company has extended its marketing reach deeply into the country's interior, including the Xinjiang Uighur Autonomous Region and Qinghai Province. It generates 80% of its total sales from regional small enterprises, such as privately owned shops.

The company is working to strengthen its dairy products division as a way to diversify its operations further. As such, it has tied up with the Japanese company Morinaga Milk Industry. While the Chinese market makes up approximately 80% of its rice cracker sales, the company will have to focus more other markets for growth.

Business Summary

Want Want China Holdings Ltd. is an investment holding company, which engages in the manufacture, distribution, and sale of food and beverages. It operates through the following segments: Rice Crackers, Dairy Products and Beverages, Snack Foods and Other Products. The Rice Crackers segment manufactures sugar coated crackers, savory crackers, and fried crackers. The Dairy Products and Beverages segment includes flavored milk, yogurt drinks, ready-to-drink coffee, carbonated drinks, herbal tea, and milk powder. The Snack Foods segment comprises of candies, popsicles and jellies, ball cakes, beans, and nuts. The Other Products segment consists of mainly wine and other food products. The company was founded on October 3, 2007 and is headquartered in Shanghai, China.

Financial Highlights

Dec 2016	HKD	USD
Revenue	23,029.67M	2,966.80M
Gross Profit	10,631.86M	1,369.65M
Operating income	5,519.92M	711.10M
Income before tax	5,727.51M	737.84M
Net income	4,111.86M	529.71M
EBITDA	6,556.00M	844.57M
Diluted EPS	0.32	0.04
Dividends Per Share	0.13	0.01
Total Assets	30,355.71M	3,915.27M
Total liabilities	16,609.98M	2,142.35M
Total equity	13,690.26M	1,765.76M
Operating cash flow	5,968.04M	768.83M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016
Revenue	26,053.10M	29,612.61M	29,276.54M	26,383.31M	23,029.67M
Gross Profit	10,088.84M	12,065.68M	11,504.24M	11,213.91M	10,631.86M
Operating income	5,482.47M	6,674.02M	5,552.90M	5,600.76M	5,519.92M
Income before tax	5,804.75M	7,229.93M	6,436.89M	5,926.89M	5,727.51M
Net income	4,295.97M	5,331.26M	4,811.81M	4,172.28M	4,111.86M
EBITDA	6,143.20M	7,468.10M	6,469.79M	6,621.35M	6,556.00M
Diluted EPS	0.32	0.40	0.36	0.31	0.32
Dividends Per Share	0.22	0.26	0.18	0.14	0.13
Total Assets	26,826.45M	33,714.01M	33,219.88M	29,498.40M	30,355.71M
Total liabilities	14,397.42M	18,576.93M	17,261.90M	14,975.49M	16,609.98M
Total equity	12,366.34M	15,068.35M	15,897.51M	14,463.92M	13,690.26M
Operating cash flow	4,776.61M	7,392.14M	2,297.18M	6,101.49M	5,968.04M

	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016
Revenue	3,358.65M	3,817.71M	3,775.33M	3,403.16M	2,966.80M
Gross Profit	1,300.60M	1,555.52M	1,483.52M	1,446.47M	1,369.65M
Operating income	706.77M	860.42M	716.07M	722.43M	711.10M
Income before tax	748.32M	932.09M	830.06M	764.50M	737.84M
Net income	553.81M	687.31M	620.50M	538.18M	529.71M
EBITDA	791.95M	962.80M	834.30M	854.08M	844.57M
Diluted EPS	0.04	0.05	0.04	0.04	0.04
Dividends Per Share	0.02	0.03	0.02	0.01	0.01
Total Assets	3,461.09M	4,348.09M	4,283.75M	3,806.17M	3,915.27M
Total liabilities	1,857.52M	2,395.86M	2,225.95M	1,932.28M	2,142.35M
Total equity	1,595.48M	1,943.36M	2,050.00M	1,866.27M	1,765.76M
Operating cash flow	615.77M	953.00M	296.23M	787.02M	768.83M

Valuation Measures

Dec 2016
PER	15.35
ROA	13.73%
ROE	29.20%
Operating margin	23.96%
Profit margin	17.85%

Key executives

Chairman & Executive President: Eng-Meng Tsai
COO, Executive Director, VP-Dairy & Beverages: Wang-Chia Tsai
Chief Financial Officer & Executive Director: Chi-Wen Chu
Executive Director & Chief Information Officer: Yu-Feng Chan
Managing Director-Administration Department: Yu-Sheng Lee

Shareholders

TSAI ENG MENG (49.3%)
Iwatsuka Confectionery Co., Ltd. (4.8%)
CHENG WEN HSIEN (3.7%)
OppenheimerFunds, Inc. (1.9%)
The Vanguard Group, Inc. (1.0%)
BlackRock Fund Advisors (0.8%)
TSAI WANG CHIA (0.8%)
TSAI SHAO CHUNG (0.8%)
TSAI WANG HSUAN (0.8%)
TSAI ENG MENG FAMILY (0.7%)

Contact Details

Website:http://www.want-want.com
Phone: +86.21.6115111

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Competitors

Last Updated on 20 Apr, 2018

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