Chinese Undervalued Dividend Payers

Kweichow Moutai

Market Cap: CN¥1.9t

Produces and sells liquor products in China and internationally.

Ping An Insurance (Group) Company of China

Market Cap: CN¥1.2t

Ping An Insurance (Group) Company of China, Ltd.

Midea Group

Market Cap: CN¥601.0b

Manufactures and sells home appliances, and robotic and automation systems in China and internationally.

Wuliangye YibinLtd

Market Cap: CN¥413.4b

Manufactures and sells liquor and wine products and related auxiliary products under the Wuliangye brand in China.

China Pacific Insurance (Group)

Market Cap: CN¥406.0b

Provides insurance products to individual and institutional customers in the People’s Republic of China.

Industrial Bank

Market Cap: CN¥398.3b

Provides banking products and services in the People’s Republic of China.

Beijing-Shanghai High-Speed Railway

Market Cap: CN¥245.1b

Beijing-Shanghai High-Speed Railway Co., Ltd.

Haier Smart Home

Market Cap: CN¥234.8b

Engages in the research, development, production, and sales of smart home appliances.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥230.2b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

New China Life Insurance

Market Cap: CN¥224.0b

Provides life insurance products and services to individuals and institutions in China.

Shaanxi Coal Industry

Market Cap: CN¥223.6b

Shaanxi Coal Industry Company Limited, together with its subsidiaries, mines, produces, washes, processes, and sells coal in China and internationally.

Ping An Bank

Market Cap: CN¥214.6b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

S.F. Holding

Market Cap: CN¥193.9b

Engages in the logistics and freight forwarding services in China and internationally.

Bank of Jiangsu

Market Cap: CN¥192.3b

Provides various banking products and services in China.

CRRC

Market Cap: CN¥178.7b

CRRC Corporation Limited, with its subsidiaries, engages in the research and development, design, manufacture, refurbishment, sale, leasing, and technical servicing of railway locomotives in Mainland China and internationally.

Luzhou LaojiaoLtd

Market Cap: CN¥174.0b

Produces and sells alcoholic products in China and internationally.

Fuyao Glass Industry Group

Market Cap: CN¥156.1b

Engages in the provision of safety glass solutions and automotive accessories for various transportation vehicles in China and internationally.

China United Network Communications

Market Cap: CN¥152.3b

Provides telecommunication services in the People’s Republic of China.

Bank of Shanghai

Market Cap: CN¥143.1b

Provides various banking products and services in China.

Bank of Hangzhou

Market Cap: CN¥118.9b

Provides various banking products and services for individuals, corporate, and small and micro businesses in China.

Focus Media Information Technology

Market Cap: CN¥108.0b

Focus Media Information Technology Co., Ltd.

Hua Xia Bank

Market Cap: CN¥105.8b

Provides commercial banking services in China and Hong Kong.

Daqin Railway

Market Cap: CN¥102.3b

Provides railway transportation services in the People’s Republic of China and internationally.

Yunnan Baiyao GroupLtd

Market Cap: CN¥102.1b

Engages in the pharmaceutical business in China.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥92.5b

Henan Shuanghui Investment & Development Co.,Ltd.

Tianshan Aluminum GroupLtd

Market Cap: CN¥83.8b

Produces and sells primary aluminum, alumina, prebaked anodes, high-purity aluminum, and aluminum deep-processed products and materials in China and internationally.

Citic Pacific Special Steel Group

Market Cap: CN¥79.7b

CITIC Pacific Special Steel Group Co., Ltd manufactures and sells steel materials in China.

Shandong Nanshan AluminiumLtd

Market Cap: CN¥78.3b

Shandong Nanshan Aluminium Co.,Ltd. is involved in the aluminum processing activity worldwide.

Western MiningLtd

Market Cap: CN¥75.9b

Engages in the mining, smelting, and trading of metals in Mainland China and internationally.

Satellite ChemicalLtd

Market Cap: CN¥75.2b

A low-carbon chemical company, manufactures and sells functional chemicals, new polymer materials, and new energy materials in China and internationally.

Tsingtao Brewery

Market Cap: CN¥74.6b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

Henan Shenhuo Coal Industry and Electricity Power

Market Cap: CN¥70.1b

Henan Shenhuo Coal Industry and Electricity Power Co.

Bank of Chengdu

Market Cap: CN¥70.1b

Provides various commercial banking products and services in China.

Shenzhen Transsion Holdings

Market Cap: CN¥70.0b

Provides smart devices and mobile services in Africa, South and Southeast Asia, the Middle East, Latin America, and internationally.

Zhejiang Zheneng Electric Power

Market Cap: CN¥66.6b

Zhejiang Zheneng Electric Power Co., Ltd.

Yunnan Yuntianhua

Market Cap: CN¥64.7b

Manufactures and sells phosphate and nitrogen fertilizers and formaldehyde copolymers in China.