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china vanguard group ltd (8156) Details

China Vanguard Group Limited, an investment holding company, provides lottery-related services primarily in the People’s Republic of China and Hong Kong. The company offers a range of in-house developed software and hardware solutions to lottery authorities, as well as sells lottery authorities’ products through its own network of outlets. It also operates karaoke content management system platform for the provision of VAS to karaoke industry, as well as supplies video on demand equipment to karaoke venue. In addition, China Vanguard Group Limited is involved in the distribution of natural supplementary products; provision of land and property development and consulting services; sale of animal feeds; and operation of wineries, as well as offers food and catering services. The company was formerly known as B & B Group Holdings Limited and changed its name to China Vanguard Group Limited in July 2006. China Vanguard Group Limited was founded in 1999 and is headquartered in Pak Shek Kok, Hong Kong.

220 Employees
Last Reported Date: 09/22/14
Founded in 1999

china vanguard group ltd (8156) Top Compensated Officers

Deputy Chairman, Chief Executive Officer, Hea...
Total Annual Compensation: $2.3M
Co-Founder, Executive Chairman and Chairman o...
Total Annual Compensation: $1.9M
General Counsel
Total Annual Compensation: $150.0K
Compensation as of Fiscal Year 2014.

china vanguard group ltd (8156) Key Developments

China Vanguard Group Limited Enters into Joint Venture Agreement with Beijing Zhongmingan Investment Management Limited

The board of directors of China Vanguard Group Limited announced that, on June 4, 2015 the company, through a wholly owned subsidiary, has entered into a joint venture agreement with independent third parties for the formation of the joint venture, Beijing Zhongmingan Investment Management Limited. Pursuant to the agreement, the Group will, through its wholly-owned subsidiary, effectively hold 51% equity interest in Zhongmingan through capital injection of RMB 7,204,000. The consideration for the agreement was determined based on arm's length negotiations. The Management of the company is of the view that the synergies between the Group and Zhongmingan will be beneficial to the Group's core business in providing consulting, content development, market expansion and hardware production and better serve the Sports Lottery and Welfare Lottery industries in the PRC. The agreement will serve as a basis for cooperation between the Group and Zhongmingan to further leverage the technology and resources to strengthen the Group's foothold in the PRC market. The Joint Venture will primarily be engaged in technology consulting, development and related services, in addition to hardware distribution. The Board considers that the agreement was entered into in the ordinary course of business of the Group and on normal commercial terms after arm's length negotiation. The Board is of the view that the terms of the agreement and the transactions contemplated thereunder are fair and reasonable and in the interests of the company and shareholders as a whole.

China Vanguard Group Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2015

China Vanguard Group Limited reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2015. For the quarter, the company has posted revenue of HKD 55,129,000 against HKD 50,557,000 a year ago. Operating profit was HKD 30,944,000 against HKD 31,155,000 a year ago. Profit before taxation was HKD 28,066,000 against HKD 28,231,000 a year ago. Profit attributable to equity holders of the company was HKD 16,149,000 against HKD 15,756,000 a year ago. Diluted EPS was HK 0.49 cents against HK 0.49 cents a year ago. For the year, the company has posted revenue of HKD 122,371,000 against HKD 82,926,000 a year ago. Operating profit was HKD 55,132,000 against HKD 30,270,000 a year ago. Profit before taxation was HKD 47,538,000 against HKD 21,578,000 a year ago. Profit attributable to equity holders of the company was HKD 31,210,000 against HKD 9,471,000 a year ago. Diluted EPS was HK 0.95 cents against HK 0.31 cents a year ago.

China Vanguard Group Limited Provides Group Earnings Guidance for the Nine Months Ended March 31, 2015

China Vanguard Group Limited provided group earnings guidance for the nine months ended March 31, 2015. The group is expected to record a significant increase in profit attributable to equity holders of the company for the nine months ended 31 March 2015 of over 200% as compared to the corresponding period in 2014. The significant growth in profit is mainly due to the substantial increase in revenue contributions from the group's lottery business in the PRC for the nine months ended 31 March 2015. These new provinces have begun to bring in revenue for the group during the nine months ended 31 March 2015. The significant increase in revenues is in-line with the management's expectation as the group's strategy to build a nation-wide business in providing lottery operation-related services is gradually taking effect.

 

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Valuation 8156 Industry Range
Price/Earnings 98.3x
Price/Sales 25.8x
Price/Book 10.4x
Price/Cash Flow 95.5x
TEV/Sales 24.3x
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