Annonce • Jul 15
Csc Financial Co., Ltd. Provides Consolidated Earnings Guidance for the from January 1, 2026 to June 30, 2026 CSC Financial Co., Ltd. provided consolidated earnings guidance for the from January 1, 2026 to June 30, 2026. For the period, the Company expects to record a net profit attributable to equity holders of the company between RMB 7,214 million and RMB 8,116 million for the first half of 2026, representing a year-on-year increase between 60% and 80%; and expects to record a net profit attributable to equity holders of the company excluding extraordinary gains and losses between RMB 7,339 million and RMB 8,241 million for the first half of 2026, representing a year-on-year increase between 64% and 84%. Main Reasons for the Estimated Profit in the first half of 2026, the Company firmly established and implemented a
correct view on political achievements, adhered to the fundamental purpose of finance serving the real economy, made great efforts in the "Five Major Areas in Finance, steadily advanced the construction of a first-class investment bank, and actively seized market opportunities, which facilitated all of its business segments to develop steadily and promoted its operating results to increase significantly. Annonce • Jun 30
CSC Financial Co., Ltd. to Report First Half, 2026 Results on Aug 19, 2026 CSC Financial Co., Ltd. announced that they will report first half, 2026 results on Aug 19, 2026 Upcoming Dividend • Jun 25
Upcoming dividend of CN¥0.17 per share Eligible shareholders must have bought the stock before 02 July 2026. Payment date: 20 August 2026. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.8%). Declared Dividend • Jun 08
Dividend of CN¥0.17 announced Shareholders will receive a dividend of CN¥0.17. Ex-date: 2nd July 2026 Payment date: 20th August 2026 Dividend yield will be 16%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (3% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Jun 05
CSC Financial Co., Ltd., Annual General Meeting, Jun 26, 2026 CSC Financial Co., Ltd., Annual General Meeting, Jun 26, 2026, at 14:30 China Standard Time. Location: conference room, 13/f, taikang group tower, building 1, courtyard 16, jinghui street, chaoyang district, beijing China Annonce • Mar 31
Csc Financial Co., Ltd. Announces Executive Changes CSC Financial Co., Ltd. announced that at the 2026 First Extraordinary General Meeting held on March 31, 2026, Mr. Dong Hongfu was elected as a Non-executive Director of the third session of the Board of the Company. With effect from the date on which his appointment as a Non-executive Director of the Company takes effect, Mr. Dong will become a member of the Risk Management Committee of the Board and a member of the Audit Committee of the Board of Directors of the Company, with a term of office ending when the term of the third session of the Board of Directors of the Company expires. Due to work arrangements, Mr. Yan Xiaolei submitted a resignation report to the Board of Directors of the Company and resigned as a Non-executive Director, a member of the Risk Management Committee of the Board and a member of the Audit Committee of the Board of Directors of the Company. His resignation will take effect from the date on which a new Non-executive Director is elected at the EGM. Following the effective date of his resignation, Mr. Yan will no longer hold any position in the Company or its controlling subsidiaries. With effect from the date on which Mr. Dong’s appointment as a Non-executive Director of the Company takes effect, Mr. Dong is added as a member of the Risk Management Committee of the Board and a member of the Audit Committee of the Board of Directors of the Company; and Mr. Yan is no longer a member of the Risk Management Committee of the Board of Directors and the Audit Committee of the Board of Directors of the Company. The above terms of office shall take effect from the date on which the resolution in relation to the appointment of Mr. Dong as a Non-executive Director of the Company was approved at the EGM and will expire on the date of termination of the third session of the Board of Directors of the Company. Annonce • Mar 30
CSC Financial Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 CSC Financial Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Annonce • Jan 30
CSC Financial Co., Ltd. Announces Board and Committees Changes CSC Financial Co., Ltd. announced that due to work arrangement, Mr. Yan Xiaolei, a Non-executive Director, submitted a resignation report to the Board of the Company and resigned as the Non-executive Director and a member of the Risk Management Committee and the Audit Committee of the Board. Following his resignation, Mr. Yan will no longer hold any other position in the Company or its controlling subsidiaries. The resignation shall take effect from the date on which a new Non-executive Director is elected by the general meeting of the Company. Annonce • Jan 01
CSC Financial Co., Ltd. Announces Committee Appointments CSC Financial Co., Ltd. announced the 19th meeting of the third session of the board of directors of the company approved the Resolution on Addition of Members of Special Committees of the Board. At the meeting, the Board resolved to appoint Mr. DAI Bo, the Employee Representative Director of the Company, as a member of the Development Strategy Committee of the Board; and appoint Ms. WANG Hua, a Non-executive Director of the Company, and Mr. ZHENG Wei, an Independent Non-executive Director of the Company, as members of the Remuneration and Nomination Committee of the Board. The above terms of office shall terminate upon the expiry of the term of the third session of the Board of the Company. Annonce • Dec 26
CSC Financial Co., Ltd. to Report Fiscal Year 2025 Results on Mar 27, 2026 CSC Financial Co., Ltd. announced that they will report fiscal year 2025 results on Mar 27, 2026 Annonce • Sep 30
CSC Financial Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 CSC Financial Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Annonce • Jul 17
CSC Financial Co., Ltd. Provides Earnings Guidance for the First Half of 2025 CSC Financial Co., Ltd. provided earnings guidance for the first half of 2025. For the period, the company expects to record a net profit attributable to equity holders of the company between RMB 4,430 million and RMB 4,573 million for the first half of 2025, representing a year-on-year increase between 55% and 60%. The Company expects to record a net profit attributable to equity holders of the company excluding extraordinary gains and losses between RMB 4,390 million and RMB 4,531 million for the first half of 2025, representing a year-on-year increase between 55% and 60%. Annonce • Jun 30
CSC Financial Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 CSC Financial Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Annonce • Jun 27
CSC Financial Co., Ltd. Approves Final Cash Dividend for the Year Ended December 31, 2024, Payable on August 21, 2025 CSC Financial Co., Ltd. at the Annual General Meeting held on June 27, 2025 approved cash dividends, on the basis of 7,756,694,797 Shares in the total issued share capital as of December 31, 2024, RMB 1.65 (tax inclusive) for every 10 Shares to all Shareholders (the Final Dividend), amounting to RMB 1,279,854,641.51 (tax inclusive) in aggregate. The Final Dividend will be paid to holders of H Shares whose names appeared on the register of members of the Company on July 10, 2025 (the Record Date). The dividend warrants are expected to be posted by Computershare Hong Kong Investor Services Limited, the H Share registrar of the Company, by ordinary post to registered H Shareholders who are entitled to receive the Final Dividend on or around August 21, 2025. Annonce • Jun 24
CSC Financial Co., Ltd.(SHSE:601066) dropped from Shanghai Stock Exchange 180 Value Index CSC Financial Co., Ltd. has been removed from Shanghai Stock Exchange 180 Value Index . Annonce • Jun 20
CSC Financial Co., Ltd. Announces Board Changes The board of directors (the "Board") of CSC Financial Co., Ltd. announceD that due to work arrangement, Mr. Liu Yanming ("Mr. Liu"), a Non-executive Director, submitted a resignation report to the Board of the Company
and resigned as the Non-executive Director and a member of the Development Strategy Committee of the Board of the Company. Following the effective date of his resignation, Mr. Liu will no longer hold any other position in the Company or its controlling subsidiaries. The 15th meeting of the third session of the Board of the Company approved the Resolution on Addition of Non-executive Director and Member of Special Committees of the Board. Pursuant to the resolution approved at the Board meeting of the Company, the Board announces that Mr. Wang Guanglong ("Mr. Wang") has been nominated as a candidate for Non-executive Director of the Company. Mr. Wang Guanglong, born in August 1984, is currently the general manager of the finance and investment department of Beijing Financial Holdings Group Limited, and concurrently serves as the executive director and general manager of Beijing Wealth Management Co., Ltd. and a Director of Beijing Jinkong Capital Co., Ltd. Mr. Wang previously served as deputy division director at the international research division of the Policy Research Bureau of the China Banking and Insurance Regulatory Commission, deputy director (temporary post) of the Macroprudential Policy Bureau of the People's Bank of ChinA, deputy general manager of the strategic innovation department, and general manager of the investment and M&A department of Beijing Financial Holdings Group Limited. Mr. Wang holds both a Bachelor ' s degree and a Doctorate in Economics from Tsinghua University. Annonce • May 29
CSC Financial Co., Ltd., Annual General Meeting, Jun 27, 2025 CSC Financial Co., Ltd., Annual General Meeting, Jun 27, 2025, at 14:30 China Standard Time. Location: conference room, 13/f, taikang group tower, building 1, courtyard 16, jinghui street, chaoyang district, beijing China Annonce • Apr 11
CSC Financial Co., Ltd. Provides Earnings Guidance for the First Quarter from January 1, 2025 to March 31, 2025 CSC Financial Co., Ltd. provided earnings guidance for the first quarter From January 1, 2025 to March 31, 2025. Based on the preliminary estimates by the financial department, it is estimated that the net profit attributable to equity holders of the company for the first quarter of 2025 will be approximately RMB 1,843 million, representing an increase of approximately RMB 615 million as compared to the same period of the previous year, and a year-on-year increase of approximately 50%. Based on the preliminary estimates by the financial department, it is estimated that the net profit attributable to equity holders of the company excluding extraordinary gains and losses for the first quarter of 2025 will be approximately RMB 1,835 million, representing an increase of approximately RMB 607 million as compared to the same period of the previous year, and a year-on-year increase of approximately 49%. As compared to Net profit attributable to equity holders of the company: RMB 1,228 million. Net profit attributable to equity holders of the company excluding extraordinary gains and losses: RMB 1,228 million. Earnings per share: RMB 0.12, result for the same period in the previous year. Reason for estimated profit increase: In the first quarter of 2025, the Company upheld the overall requirement of financial services to support the real economy, by accelerating the construction of a first-class investment bank, and soundly giving priority to "Five Major Areas" in Finance. It also promoted the acceleration and improvement of its internationalization strategy, actively seized market opportunities, and continued to reduce costs and increase efficiency, with its operating performance remaining stable and improving. During the reporting period, the Company's performance growth were mainly attributable to the significant year-on-year increases in revenue from brokerage and proprietary trading businesses. Annonce • Mar 28
CSC Financial Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 CSC Financial Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Annonce • Mar 13
CSC Financial Co., Ltd. Announces Appointment of LIU Cheng as the Executive Director, Chairman of the Development Strategy Committee of the Board, A Member of the Remuneration and Nomination Committee of the Board CSC Financial Co., Ltd. at its 2025 Second Extraordinary General Meeting Held on March 13, 2025 approved the resolution on the election of Mr. LIU Cheng as an Executive Director of the Company. Since the date when Mr. LIU is officially appointed as an Executive Director of the Company, he also becomes the Chairman of the third session of the Board of Directors of the Company and the Chairman of the Development Strategy Committee and a member of the Remuneration and Nomination Committee under the Board of Directors, with a term of office ending when the term of the third session of the Board of Directors of the Company expires. Mr. LIU will also serve as an authorized representative of the Company. Mr. LIU will serve as the Chairman of the Executive Committee and Legal Representative of the Company since he officially performed the duties of the Chairman. Annonce • Dec 27
CSC Financial Co., Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 CSC Financial Co., Ltd. announced that they will report fiscal year 2024 results on Mar 28, 2025 Annonce • Dec 20
CSC Financial Co., Ltd. Announces Resignation of Shareholder Representative Supervisor and the Chairman of Supervisory Committee CSC Financial Co., Ltd. announced that Mr. ZHOU Xiaoyu, the shareholder representative supervisor and the chairman of the Supervisory Committee of CSC Financial Co., Ltd., has tendered his resignation to the Supervisory Committee of the Company to resign as the chairman of the Supervisory Committee and a supervisor of the Company due to his retirement. Pursuant to the relevant requirements of the Company Law of the People's Republic of China and the Articles of Association of CSC Financial Co., Ltd., the resignation of Mr. ZHOU Xiaoyu will not cause the number of members of the Supervisory Committee to be lower than the quorum. The resignation will take effect from December 20, 2024. Mr. ZHOU Xiaoyu has confirmed that he has no disagreement with the Supervisory Committee and the board of directors of the Company and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders and creditors of the Company. His resignation will not affect the normal operation of the Supervisory Committee of the Company and the Company. Annonce • Nov 29
CSC Financial Co., Ltd. Announces Election of Jin Jianhua as an Executive Director and Member of Both the Development Strategy Committee and the Risk Management Committee CSC Financial Co., Ltd. announced that at the AGM held on November 29, 2024, approved election of Mr. JIN Jianhua as an executive Director of the Company Since the date when Mr. JIN is officially appointed as an executive Director of the Company, Mr. JIN also becomes a member of both the Development Strategy Committee and the Risk Management Committee of the Board. Mr. JIN has officially assumed office when the resolution on his appointment was approved at the EGM, with a term of office ending when the term of the third session of the Board of Directors of the Company expires. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €1.31, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Capital Markets industry in Germany. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.03 per share. Upcoming Dividend • Nov 01
Upcoming dividend of CN¥0.09 per share Eligible shareholders must have bought the stock before 07 November 2024. Payment date: 27 December 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.6%). Annonce • Oct 10
CSC Financial Co., Ltd. Announces Resignation of WU Ruilin as a Non-Executive Director and Vice Chairman, Chairman of the Risk Management Committee of Board, a Member of Development Strategy Committee of Board and a Member of the Audit Committee The board of directors of CSC Financial Co., Ltd. announced that non-executive director Mr. WU Ruilin has tendered to the Board his resignation as a non-executive director and vice chairman of the Company, the chairman of the Risk Management Committee of the Board, a member of the Development Strategy Committee of the Board and a member of the Audit Committee of the Board due to reaching statutory retirement age. After his resignation, Mr. Wu will not hold any other positions in the Company and its controlling subsidiaries. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to €1.43, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Capital Markets industry in Germany. Total returns to shareholders of 81% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.67 per share. New Risk • Sep 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (116% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.3% average weekly change). Annonce • Sep 30
CSC Financial Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 CSC Financial Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Annonce • Sep 27
CSC Financial Co., Ltd. Proposes an Interim Dividend for the Six Months Ended 30 June 2024, Payable on 27 December 2024 CSC Financial Co., Ltd. proposed an interim dividend of RMB 0.9 per 10 share for the six months ended 30 June 2024. Payment date is 27 December 2024. Reported Earnings • Sep 01
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: CN¥5.22b (down 22% from 2Q 2023). Net income: CN¥1.63b (up 18% from 2Q 2023). Profit margin: 31% (up from 21% in 2Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Capital Markets industry in Germany. Annonce • Jul 12
CSC Financial Co., Ltd. Appoints Liu Naisheng as Joint Company Secretary and Alternate Authorized Representative CSC Financial Co., Ltd. announced the appointment of Mr. LIU Naisheng as Joint Company Secretary and the Alternate Authorized Representative, effective July 12, 2024. Mr. LIU currently does not possess the qualifications of company secretary as required under Rule 3.28 of the Hong Kong Listing Rules. With reference to the biography as disclosed in the Announcement, the Directors believe that Mr. Liu has over 20 years of working experience in the capital market, is familiar with the operation of the Company, has achieved good communication with the members of the Board of the Company and is familiar with the internal operation mechanism of the Board, therefore possessing the professional knowledge and management experience necessary for discharging the functions of company secretary, as well as good work ethics and personal qualities. Therefore, the Company has applied, and the Hong Kong Stock Exchange, on July 12, 2024, has granted, the Waiver with respect to the appointment of Mr. LIU as the Joint Company Secretary for a period of three years from the date of his appointment (the "Waiver Period") on conditions that the Company engages Ms. WONG Wai Ling ("Ms. WONG"), the another Joint Company Secretary of the Company. Ms. WONG is a vice president of SWCS Corporate Services Group (Hong Kong) Limited. Ms. WONG has over 15 years of experience in providing company secretarial services. Ms. WONG is an associate of The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. Declared Dividend • Jun 09
Dividend of CN¥0.25 announced Shareholders will receive a dividend of CN¥0.25. Ex-date: 3rd July 2024 Payment date: 22nd August 2024 Dividend yield will be 34%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.8% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 119% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Jun 08
CSC Financial Co., Ltd., Annual General Meeting, Jun 28, 2024 CSC Financial Co., Ltd., Annual General Meeting, Jun 28, 2024, at 14:30 China Standard Time. Location: conference room, 13/f, taikang group tower, building 1, courtyard 16, jinghui street, chaoyang district, beijing China Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.28 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.12 (down from CN¥0.28 in 1Q 2023). Revenue: CN¥4.25b (down 37% from 1Q 2023). Net income: CN¥1.23b (down 50% from 1Q 2023). Profit margin: 29% (down from 36% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Annonce • Mar 30
CSC Financial Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 CSC Financial Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Annonce • Mar 29
CSC Financial Co., Ltd. Proposes Final Dividend for the Financial Year End 31 December 2023, Payable on 22 August 2024 CSC Financial Co., Ltd. proposed final dividend of RMB 2.5 per 10 share, for the financial year end 31 December 2023. Payment date is 22 August 2024. Annonce • Dec 30
CSC Financial Co., Ltd. to Report Fiscal Year 2023 Results on Mar 29, 2024 CSC Financial Co., Ltd. announced that they will report fiscal year 2023 results on Mar 29, 2024 Annonce • Dec 01
CSC Financial Co., Ltd. Elects ZOU Yingguang as Executive Director CSC Financial Co., Ltd. at the Extraordinary General Meeting held on November 30, 2023 approved the election of Mr. Zou Yingguang as an executive Director of the Company. Annonce • Oct 11
CSC Financial Co., Ltd. Appoints Zheng Wei as an Independent Non-Executive Director CSC Financial Co., Ltd. at its Extraordinary general Meeting Held on October 10, 2023 approved resolution on election of Mr. Zheng Wei as an Independent Non-executive Director of the Company. Annonce • Sep 30
CSC Financial Co., Ltd. to Report Q3, 2023 Results on Oct 27, 2023 CSC Financial Co., Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 Reported Earnings • Sep 01
Second quarter 2023 earnings released: EPS: CN¥0.21 (vs CN¥0.35 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.21 (down from CN¥0.35 in 2Q 2022). Revenue: CN¥6.68b (down 17% from 2Q 2022). Net income: CN¥1.87b (down 24% from 2Q 2022). Profit margin: 28% (down from 31% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 6% per year and the company’s share price has also fallen by 6% per year. Annonce • Jun 30
CSC Financial Co., Ltd. Approves Final Dividend for the Year Ended December 31, 2022, Payable on 22 August 2023 CSC Financial Co., Ltd. approves final dividend of RMB 2.7 per 10 share for the year ended December 31, 2022, payable on 22 August 2023. Ex-dividend date 03 July 2023 and Record date 10 July 2023. Upcoming Dividend • Jun 26
Upcoming dividend of CN¥0.27 per share at 3.8% yield Eligible shareholders must have bought the stock before 03 July 2023. Payment date: 22 August 2023. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.1%). Annonce • Jun 22
Csc Financial Co., Ltd. Announces Election of Li Min as Vice Chairman CSC Financial Co., Ltd. announced resolution passed by the Board meeting of the Company, the Board announced that Mr. LI Min, a non-executive director of the Company, is elected as the vice chairman of the second session of the Board of the Company, with a term of office ending when the term of the second session of the Board of the Company expires. Mr. LI Min, born in September 1976. He has been a director of the Company since May 2023 and currently acts as the deputy general manager of Beijing FinancialHoldings Group Limited and the chairman of the board of directors at Beijing Finance Big Data Co., Ltd. Mr. LI served as the deputy director of the sales management division of wealth management products in the personal banking department, and the deputy general manager of the expert team division in the private banking department at Industrial and Commercial Bank of China Limited, the deputy general manager of the personal banking department, the deputy general manager of the asset management department (in charge of the department), the general manager of the asset management department and the deputy president of Hua Xia Bank Company Limited, and the head of the preparatory group and the chairman of the board of directors at Hua Xia Wealth Management Co., Ltd. Mr. LI holds a bachelor's degree in international finance from Shanxi University of Finance and Economics and a master's degree in agricultural economic management from China Agricultural University. He is qualified as an economist. Annonce • Jun 09
CSC Financial Co., Ltd., Annual General Meeting, Jun 29, 2023 CSC Financial Co., Ltd., Annual General Meeting, Jun 29, 2023, at 14:00 China Standard Time. Location: The Multi-function Hall, B1/F, Office Building of CSC Financial Co., Ltd. No. 188 Chaonei Avenue Dongcheng District Beijing Province China Agenda: To consider and approve the 2022 Work Report of the Board of Directors of the Company; to consider and approve the 2022 Work Report of the Supervisory Committee of the Company; to consider and approve the 2022 Final Financial Accounts Plan of the Company; to consider and approve the Profit Distribution Plan of the Company in 2022; to consider and approve the 2022 annual report of the Company; to consider and approve the expected daily related party transactions/continuing connected transactions of the Company in 2023; to consider and approve the entering into of the Securities and Financial Products Transactions and Services Framework Agreement between the Company and Beijing Financial Holdings Group; and to consider other matters. Annonce • Jun 08
CSC Financial Co., Ltd. Proposes Final Dividend for the Financial Year End 31 December 2022, Payable on August 22, 2023 CSC Financial Co., Ltd. proposed final dividend of RMB 2.7 per 10 share, for the financial year end 31 December 2022. Payment date is 22 August 2023. Ex-dividend date 03 July 2023. Record date 10 July 2023. The Date of shareholders' approval to be 29 June 2023. Annonce • May 16
CSC Financial Co., Ltd. Resignation of Zhou Chengyue as Director CSC Financial Co., Ltd. dated April 16, 2023. Given that Mr. ZHOU Chengyue ("Mr. ZHOU") is unable to perform his duties as an independent Director of the Company, he has resigned as an independent Director of the Company, a member of the Risk Management Committee of the Board and a member of the Audit Committee of the Board, with effect from May 15, 2023. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.07, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 15x in the Capital Markets industry in Germany. Total returns to shareholders of 43% over the past three years. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: CN¥0.86 (vs CN¥1.25 in FY 2021) Full year 2022 results: EPS: CN¥0.86 (down from CN¥1.25 in FY 2021). Revenue: CN¥29.3b (down 7.6% from FY 2021). Net income: CN¥7.51b (down 23% from FY 2021). Profit margin: 26% (down from 31% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 25% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.31 (vs CN¥0.33 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.31 (down from CN¥0.33 in 3Q 2021). Revenue: CN¥8.33b (down 1.4% from 3Q 2021). Net income: CN¥2.43b (down 18% from 3Q 2021). Profit margin: 29% (down from 35% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 23
Upcoming dividend of CN¥0.40 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 5.2%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.0%). Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improved over the past week After last week's 16% share price gain to €1.04, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Capital Markets industry in Germany. Total returns to shareholders of 73% over the past three years. Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: CN¥0.20 (vs CN¥0.21 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.20 (down from CN¥0.21 in 1Q 2021). Revenue: CN¥6.10b (up 24% from 1Q 2021). Net income: CN¥1.54b (down 11% from 1Q 2021). Profit margin: 25% (down from 35% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 16% compared to a 7.6% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Non-Executive Director Jianjun Bai was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: CN¥1.32 (vs CN¥1.20 in FY 2020) Full year 2021 results: EPS: CN¥1.32 (up from CN¥1.20 in FY 2020). Revenue: CN¥31.8b (up 28% from FY 2020). Net income: CN¥10.2b (up 12% from FY 2020). Profit margin: 32% (down from 37% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 25% compared to a 7.5% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS CN¥0.38 (vs CN¥0.36 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥8.45b (up 42% from 3Q 2020). Net income: CN¥2.96b (up 1.7% from 3Q 2020). Profit margin: 35% (down from 49% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Executive Departure • Sep 13
Non-Executive Director Hao Sheng Wang has left the company On the 10th of September, Hao Sheng Wang's tenure as Non-Executive Director ended after 3.6 years in the role. We don't have any record of a personal shareholding under Hao Sheng's name. A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 3.29 years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 16% share price gain to €1.04, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 17x in the Capital Markets industry in Germany. Total returns to shareholders of 168% over the past three years. Reported Earnings • Jul 24
Second quarter 2021 earnings released: EPS CN¥0.34 (vs CN¥0.33 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥7.41b (up 37% from 2Q 2020). Net income: CN¥2.81b (up 6.8% from 2Q 2020). Profit margin: 38% (down from 49% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 25
Upcoming dividend of CN¥0.38 per share Eligible shareholders must have bought the stock before 02 July 2021. Payment date: 19 August 2021. Trailing yield: 4.8%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.2%). Executive Departure • May 25
Independent Non-Executive Director has left the company On the 14th of May, Genfu Feng's tenure as Independent Non-Executive Director ended after 6.1 years in the role. We don't have any record of a personal shareholding under Genfu's name. A total of 5 executives have left over the last 12 months. Executive Departure • May 25
Independent Non-Executive Director has left the company On the 14th of May, Shengqin Zhu's tenure as Independent Non-Executive Director ended after 6.1 years in the role. We don't have any record of a personal shareholding under Shengqin's name. A total of 5 executives have left over the last 12 months. Reported Earnings • Apr 24
First quarter 2021 earnings released The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: CN¥4.81b (up 13% from 1Q 2020). Net income: CN¥1.72b (down 12% from 1Q 2020). Profit margin: 36% (down from 46% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 23
Full year 2020 earnings released: EPS CN¥1.20 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥23.4b (up 59% from FY 2019). Net income: CN¥9.51b (up 85% from FY 2019). Profit margin: 41% (up from 35% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 13
New 90-day high: €1.24 The company is up 6.0% from its price of €1.17 on 15 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.82 per share. Is New 90 Day High Low • Dec 23
New 90-day low: €1.02 The company is down 8.0% from its price of €1.11 on 24 September 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.74 per share. Is New 90 Day High Low • Oct 31
New 90-day low: €1.03 The company is down 16% from its price of €1.23 on 31 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.58 per share. Reported Earnings • Oct 25
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥8.80b, up 98% from the prior year. Total revenue was CN¥20.6b over the last 12 months, up 56% from the prior year. 
