Chinese Undervalued Dividend Payers

Kweichow Moutai

Market Cap: CN¥1.8t

Produces and sells liquor products in China and internationally.

Ping An Insurance (Group) Company of China

Market Cap: CN¥1.0t

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

Foxconn Industrial Internet

Market Cap: CN¥998.3b

Provides smart manufacturing and industrial internet services in Mexico, Vietnam, Singapore, Mainland China, and internationally.

Midea Group

Market Cap: CN¥562.4b

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

Industrial Bank

Market Cap: CN¥397.7b

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

Wuliangye YibinLtd

Market Cap: CN¥397.5b

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

China Pacific Insurance (Group)

Market Cap: CN¥349.4b

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

Shaanxi Coal Industry

Market Cap: CN¥263.3b

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

Beijing-Shanghai High-Speed Railway

Market Cap: CN¥248.1b

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

Haier Smart Home

Market Cap: CN¥216.7b

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

Ping An Bank

Market Cap: CN¥209.0b

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

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥205.0b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Bank of Jiangsu

Market Cap: CN¥199.5b

Provides various banking products and services in China.

New China Life Insurance

Market Cap: CN¥190.2b

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

China Everbright Bank

Market Cap: CN¥188.8b

Provides a range of financial products and services to corporations and government agencies, retail customers, and individuals in Mainland China, Hong Kong, Luxembourg, Macao, Seoul, and Sydney.

S.F. Holding

Market Cap: CN¥183.6b

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

CRRC

Market Cap: CN¥174.3b

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.

Huatai Securities

Market Cap: CN¥161.7b

Provides securities and financial services for individual, enterprise, and institutional clients in Mainland China and internationally.

Luzhou LaojiaoLtd

Market Cap: CN¥154.8b

Produces and sells alcoholic products in China and internationally.

China United Network Communications

Market Cap: CN¥146.6b

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

Fuyao Glass Industry Group

Market Cap: CN¥144.9b

Provides safety glass solutions and automotive accessories for various transportation vehicles in China and internationally.

Bank of Shanghai

Market Cap: CN¥140.5b

Provides various banking products and services in China.

Eastroc Beverage (Group)

Market Cap: CN¥126.9b

Engages in the manufacturing and distribution of beverages in China, Vietnam, and Malaysia.

Avary Holding(Shenzhen)Co

Market Cap: CN¥120.1b

Engages in the research, design, development, manufacture, and sale of printed circuit boards in China, the United States, rest of Asia, and Europe.

Hua Xia Bank

Market Cap: CN¥114.3b

Provides commercial banking services in China and Hong Kong.

Daqin Railway

Market Cap: CN¥107.0b

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

Yunnan Baiyao GroupLtd

Market Cap: CN¥101.2b

Engages in the pharmaceutical business in China.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥98.0b

Henan Shuanghui Investment & Development Co.,Ltd.

Focus Media Information Technology

Market Cap: CN¥96.0b

Focus Media Information Technology Co., Ltd.

Citic Pacific Special Steel Group

Market Cap: CN¥80.3b

CITIC Pacific Special Steel Group Co., Ltd engages in the manufacture and sale of steel materials in China.

Zhejiang China Commodities City Group

Market Cap: CN¥73.2b

Through its subsidiaries, develops, manages, and operates an online trading platform service in China.

Zhejiang Zheneng Electric Power

Market Cap: CN¥72.8b

Zhejiang Zheneng Electric Power Co., Ltd.

ENN Natural GasLtd

Market Cap: CN¥72.5b

Engages in natural gas distribution, trading, storage, transportation, production, and engineering in China.

Bank of Chengdu

Market Cap: CN¥72.4b

Provides various commercial banking products and services in China.

Tsingtao Brewery

Market Cap: CN¥72.2b

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

Tianshan Aluminum GroupLtd

Market Cap: CN¥71.3b

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