Company Quick10K Filing
Nam Tai Property
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 38 $340
20-F 2020-03-23 Annual: 2019-12-31
20-F 2019-03-15 Annual: 2018-12-31
20-F 2018-03-09 Annual: 2017-12-31
20-F 2017-03-10 Annual: 2016-12-31
20-F 2016-03-14 Annual: 2015-12-31
20-F 2014-03-14 Annual: 2013-12-31
20-F 2013-03-15 Annual: 2012-12-31
20-F 2012-03-16 Annual: 2011-12-31
20-F 2011-03-16 Annual: 2010-12-31
20-F 2010-03-16 Annual: 2009-12-31

Nam Tai Property Financials

NTP Metrics, Comps, Filings

Annual | Quarterly

Business

We are an owner and developer of technology parks. We hold two parcels of land located in Guangming and Gushu, Shenzhen, China. We are converting these two parcels of land that formerly housed the manufacturing facilities of our prior businesses into high-tech research and development centers, which we refer to as our Nam Tai Inno Park and Nam Tai Inno City projects. We expect our principal income in the future will be derived from sales and rental income from these research and development centers. Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP").

Formerly known as Nam Tai Electronics, Inc., we were founded in 1975 and moved our electronics manufacturing facilities to China in 1980 to take advantage of lower overhead costs, lower material costs and competitive labor rates available. We relocated to Shenzhen, China in order to capitalize on the significant opportunities offered in southern China. We were reincorporated in August 1987 as a limited liability International Business Company under the laws of the British Virgin Islands (which was amended in 2004 as The British Virgin Islands Business Companies Act, 2004). Our PRC headquarters, and the location of our former manufacturing and design facilities, are currently based in Shenzhen, China, approximately 30 miles from Hong Kong. Certain of our subsidiaries' offices are located in Hong Kong, which provide us access to Hong Kong's infrastructure of communication and banking facilities. Our corporate administrative matters are conducted in the British Virgin Islands through our registered agent, McNamara Corporate Services Limited, of McNamara Chambers, 2nd Floor, 116 Main Street, P.O. Box 3342, Road Town, Tortola, British Virgin Islands.

On July 12, 2017, Kaisa Group Holdings Ltd., or Kaisa, in a private secondary transaction, purchased 6,504,355 common shares of our company from our former Chairman, M.K. Koo, and his wife, at a price of US$17.00 per share. Subsequently, Kaisa continued to purchase common shares of our company in the open market. Based on the Schedule 13D/A filed with the SEC on December 15, 2017, Kaisa beneficially owns 9,191,050 common shares of the Company, or 24.1% of our outstanding shares. Following Kaisa's initial purchase, we began certain strategic cooperation arrangements with Kaisa, including hiring a number of engineers and real estate professionals from Kaisa to join us as officers and employees. Our shareholders have elected one of Kaisa's founders, Mr. Ying Chi Kwok, to serve as a director of our company. Our Board of Directors has elected Mr. Kwok as its Chairman and appointed him as our Chief Executive Officer, together with the appointments of Kaisa affiliates to senior management positions, such as the appointments of Hao Xu as a Non-Executive Director and Ms. Yu Zhang as our Chief Financial Officer. With the injection of the new senior management team and the support from Kaisa, we believe that we have significantly increased our execution ability and have become less reliant on external consultants. It is expected that we will continue to consult with Kaisa from time to time, leveraging Kaisa's knowledge and experience in the areas of construction and real estate development.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Retail Value (RVI) 710 0% 3.0 5% 1,686 730 251 0 89 179 540
Front Yard Residential (RESI) 616 0% 45.7 -5% 2,077 1,715 209 0 -114 12 535
Ellington Financial (EFC) 623 5.6 1% 3,627 2,958 0 0 44 120 675
Boston Omaha (BOMN) 483 57% 80.2 -1% 426 86 30 17 -6 6 491
FRP Holdings (FRPH) 486 0% 23.1 3% 536 146 18 0 14 22 504
BBX Capital (BBX) 437 1% 0.2 2% 1,817 1,163 959 12 39 126 19
Tejon Ranch (TRC) 455 0% 101.3 0% 534 99 29 0 1 5 513
Nam Tai Property (NTP) 340 0% 318 90 0 0 0 0 340
Rafael Holdings (RFL) 333 0% -88.0 -4% 140 1 4 0 -5 -4 322
Consolidated Tomoka Land (CTO) 297 77% 9.8 5% 583 384 77 60 30 58 569
Pico Holdings (PICO) 210 0% 28.5 4% 178 2 19 0 7 7 198
American Realty Investors (ARL) 246 0% 2.5 17% 832 534 61 0 138 158 403
MMA Capital Management (MMAC) 179 9.7 8% 374 154 0 0 32 32 313
Griffin Industrial Realty (GRIF) 193 94% 21.1 2% 268 174 35 33 6 16 332
Maui Land & Pineapple (MLP) 190 0% -147.5 -3% 48 16 9 0 -1 -1 189
Leju (LEJU) 166 0% 417 175 0 0 0 0 18
Yangtze River Port & Logistics (YRIV) 133 -57.9 -2% 378 218 0 0 -8 -2 127
China HGS Real Estate (HGSH) 49 15% 28.8 0% 363 201 25 4 1 2 44
Optibase (OBAS) 46 0% 244 171 0 0 0 0 32
Altisource Asset Management (AAMC) 17 0% 1.2 -10% 54 11 16 0 -5 -4 -5

Balance Sheet ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash119694156207184
Accounts Receivable74156710
Inventory325630
PP&E1491521144333727
Assets458391368382468382262318
Accounts Payable83187951687
Long-Term Debt
Liabilities1362734652021451890
Stockholders' Equity322363363317266236244228
Income Statement ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue6021,148856320
Cost of Revenue5741,042788100
Gross Profit281066811220
R&D31
SG&A3343172921
Tax101000000
Net Income1200-26-13-104-13
Cash Flow ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating-5110161-7-32-9
Cash Investing-99-5-1914118-4163-79
Cash Financing-9-4-2419-3568-3-7