Want Want China Holdings Ltd.

6.10 HKD
+0.27
+4.63%

China
Aug 15, 2018
Ticker
HKG(151)
Prev. close
5.83
Market cap (HKD)
72,579.34M
Market cap (USD)
9,245.83M
Shares
12,449.28M

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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 & 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. Want Want China Holdings was founded on October 3, 2007 and is headquartered in Shanghai, China.

Financial Highlights

Mar 2018	HKD	USD
Revenue	23,890.39M	3,059.21M
Gross Profit	10,293.14M	1,318.05M
Operating income	4,188.53M	536.35M
Income before tax	5,067.77M	648.93M
Net income	3,671.49M	470.14M
EBITDA	5,231.53M	669.90M
Diluted EPS	0.29	0.03
Dividends Per Share	0.14	0.01
Total Assets	33,284.64M	4,241.01M
Total liabilities	15,058.93M	1,918.75M
Total equity	18,072.65M	2,302.75M
Operating cash flow	--	--
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Mar 2018
Revenue	29,612.61M	29,276.54M	26,383.31M	23,029.67M	23,890.39M
Gross Profit	12,065.68M	11,504.24M	11,213.91M	10,631.86M	10,293.14M
Operating income	6,674.02M	5,552.90M	5,600.76M	5,519.92M	4,188.53M
Income before tax	7,229.93M	6,436.89M	5,926.89M	5,727.51M	5,067.77M
Net income	5,331.26M	4,811.81M	4,172.28M	4,111.86M	3,671.49M
EBITDA	7,468.10M	6,469.79M	6,621.35M	6,556.00M	5,231.53M
Diluted EPS	0.40	0.36	0.31	0.32	0.29
Dividends Per Share	0.26	0.18	0.14	0.13	0.14
Total Assets	33,714.01M	33,219.88M	29,498.40M	30,355.71M	33,284.64M
Total liabilities	18,576.93M	17,261.90M	14,975.49M	16,609.98M	15,058.93M
Total equity	15,068.35M	15,897.51M	14,463.92M	13,690.26M	18,072.65M
Operating cash flow	7,392.14M	2,297.18M	6,101.49M	5,968.04M	--

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Mar 2018
Revenue	3,817.71M	3,775.33M	3,403.16M	2,966.80M	3,059.21M
Gross Profit	1,555.52M	1,483.52M	1,446.47M	1,369.65M	1,318.05M
Operating income	860.42M	716.07M	722.43M	711.10M	536.35M
Income before tax	932.09M	830.06M	764.50M	737.84M	648.93M
Net income	687.31M	620.50M	538.18M	529.71M	470.14M
EBITDA	962.80M	834.30M	854.08M	844.57M	669.90M
Diluted EPS	0.05	0.04	0.04	0.04	0.03
Dividends Per Share	0.03	0.02	0.01	0.01	0.01
Total Assets	4,348.09M	4,283.75M	3,806.17M	3,915.27M	4,241.01M
Total liabilities	2,395.86M	2,225.95M	1,932.28M	2,142.35M	1,918.75M
Total equity	1,943.36M	2,050.00M	1,866.27M	1,765.76M	2,302.75M
Operating cash flow	953.00M	296.23M	787.02M	768.83M	--

Valuation Measures

Mar 2018
PER	21.40
ROA	11.53%
ROE	23.11%
Operating margin	17.53%
Profit margin	15.36%

Key executives

Chairman & Chief Executive Officer: Eng-Meng Tsai
COO, Executive Director, VP-Dairy & Beverages: Wang-Chia Tsai
Chief Financial Officer & Executive Director: Chi-Wen Chu
MD-Research & Development Department: Chun-Chiang Chen
MD-Information Technology Department: Hung-Hsing Ting

Shareholders

TSAI ENG MENG (49.3%)
Iwatsuka Confectionery Co., Ltd. (4.8%)
CHENG WEN HSIEN (3.7%)
OppenheimerFunds, Inc. (1.7%)
The Vanguard Group, Inc. (1.1%)
TSAI WANG CHIA (0.8%)
BlackRock Fund Advisors (0.8%)
TSAI SHAO CHUNG (0.8%)
TSAI ENG MENG FAMILY (0.7%)
Norges Bank Investment Management (0.6%)

Contact Details

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

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Competitors

Last Updated on 15 Aug, 2018

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