Loading...

Shengjing Bank

DB:6SY
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
6SY
DB
HK$32B
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

Shengjing Bank Co., Ltd. provides banking products and services to individual and corporate customers in Mainland China. The last earnings update was 110 days ago. More info.


Add to Portfolio Compare Print
  • Shengjing Bank has significant price volatility in the past 3 months.
6SY Share Price and Events
7 Day Returns
-0.8%
DB:6SY
4.2%
DE Banks
-0.3%
DE Market
1 Year Returns
25.5%
DB:6SY
-22.4%
DE Banks
-6.7%
DE Market
6SY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shengjing Bank (6SY) -0.8% 4.4% 14.7% 25.5% -36.6% -
DE Banks 4.2% 6.2% -14.7% -22.4% 7% -33.2%
DE Market -0.3% 2.3% -2% -6.7% 11.3% 12.2%
1 Year Return vs Industry and Market
  • 6SY outperformed the Banks industry which returned -22.4% over the past year.
  • 6SY outperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
6SY
Industry
5yr Volatility vs Market

Value

 Is Shengjing Bank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Shengjing Bank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Shengjing Bank.

DB:6SY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CN¥8.25 * 14%
CN¥1.15
Book Value of Equity per Share Median Book Value from the past 5 years. CN¥8.25
Discount Rate (Cost of Equity) See below 12.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:6SY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.594 (1 + (1- 25%) (1065.21%))
3.91
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 5.96%)
12.15%

Discounted Cash Flow Calculation for DB:6SY using Excess Returns Model Model

The calculations below outline how an intrinsic value for Shengjing Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:6SY Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (14% – 12.15%) * CN¥8.25)
CN¥0.15
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥0.15 / (12.15% - 0.23%)
CN¥1.26
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥8.25 + CN¥1.26
CN¥9.51
DB:6SY Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2066)
1.137
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥9.51 x 1.137
HK$10.81
Non-primary Listing Adjustment Factor 1 share in DB:6SY represents 0.11161x of SEHK:2066
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11161x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 10.81 x 0.11161
€1.21
Value per share (EUR) From above. €1.21
Current discount Discount to share price of €0.63
= -1 x (€0.63 - €1.21) / €1.21
48.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Shengjing Bank is available for.
Intrinsic value
48%
Share price is €0.63 vs Future cash flow value of €1.21
Current Discount Checks
For Shengjing Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Shengjing Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Shengjing Bank's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Shengjing Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shengjing Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:6SY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.88
SEHK:2066 Share Price ** SEHK (2019-07-17) in HKD HK$5.6
SEHK:2066 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥4.93
Germany Banks Industry PE Ratio Median Figure of 6 Publicly-Listed Banks Companies 14.94x
Germany Market PE Ratio Median Figure of 419 Publicly-Listed Companies 20.05x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Shengjing Bank.

DB:6SY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2066 Share Price ÷ EPS (both in CNY)

= 4.93 ÷ 0.88

5.57x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shengjing Bank is good value based on earnings compared to the DE Banks industry average.
  • Shengjing Bank is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Shengjing Bank's expected growth come at a high price?
Raw Data
DB:6SY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.57x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-7.4%per year
Europe Banks Industry PEG Ratio Median Figure of 114 Publicly-Listed Banks Companies 0.9x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Shengjing Bank, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Shengjing Bank's assets?
Raw Data
DB:6SY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥9.74
SEHK:2066 Share Price * SEHK (2019-07-17) in HKD HK$5.6
SEHK:2066 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥4.93
Germany Banks Industry PB Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.7x
Germany Market PB Ratio Median Figure of 565 Publicly-Listed Companies 1.75x
DB:6SY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2066 Share Price ÷ Book Value per Share (both in CNY)

= 4.93 ÷ 9.74

0.51x

* Primary Listing of Shengjing Bank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shengjing Bank is good value based on assets compared to the DE Banks industry average.
X
Value checks
We assess Shengjing Bank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Shengjing Bank has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Shengjing Bank expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Shengjing Bank, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-7.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shengjing Bank expected to grow at an attractive rate?
  • Shengjing Bank's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Shengjing Bank's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Unable to compare Shengjing Bank's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:6SY Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:6SY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -7.4%
Germany Banks Industry Earnings Growth Rate Market Cap Weighted Average 11.8%
Germany Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:6SY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:6SY Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 9,484 -154,802 5,129
2018-09-30 10,122 -135,157 6,021
2018-06-30 10,759 -115,512 6,914
2018-03-31 11,303 -85,125 7,247
2017-12-31 11,846 -54,737 7,580
2017-09-30 11,750 -16,223 7,167
2017-06-30 11,653 22,291 6,755
2017-03-31 11,459 5,780
2016-12-31 12,438 70,824 6,865
2016-09-30 12,610 29,532 6,749
2016-06-30 12,781 -11,760 6,634
2016-03-31 13,092 7,452

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shengjing Bank's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Shengjing Bank is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:6SY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Shengjing Bank Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:6SY Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.88
2018-09-30 1.04
2018-06-30 1.19
2018-03-31 1.25
2017-12-31 1.31
2017-09-30 1.24
2017-06-30 1.17
2017-03-31 1.00
2016-12-31 1.18
2016-09-30 1.16
2016-06-30 1.14
2016-03-31 1.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Shengjing Bank will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Shengjing Bank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Shengjing Bank has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Shengjing Bank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Shengjing Bank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Shengjing Bank's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Shengjing Bank's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Shengjing Bank's 1-year earnings growth is negative, it can't be compared to the DE Banks industry average.
Earnings and Revenue History
Shengjing Bank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Shengjing Bank Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:6SY Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 9,484.22 5,128.72 3,833.46
2018-09-30 10,121.68 6,021.37 3,776.20
2018-06-30 10,759.15 6,914.03 3,718.95
2018-03-31 11,302.78 7,247.04 3,596.37
2017-12-31 11,846.40 7,580.06 3,473.80
2017-09-30 11,749.95 7,167.46 3,347.55
2017-06-30 11,653.49 6,754.87 3,221.30
2017-03-31 11,458.51 5,780.14 3,888.04
2016-12-31 12,438.47 6,864.52 3,111.78
2016-09-30 12,609.69 6,749.17 3,012.49
2016-06-30 12,780.92 6,633.82 2,913.20
2016-03-31 13,092.32 7,452.13 2,085.55
2015-12-31 12,228.78 6,211.33 2,700.90
2015-09-30 11,863.70 6,158.30 2,478.71
2015-06-30 11,498.62 6,105.28 2,256.53
2015-03-31 10,884.62 5,755.10 2,195.86
2014-12-31 10,270.61 5,404.93 2,135.19
2014-09-30 9,999.57 5,306.37 2,068.65
2014-06-30 9,728.53 5,207.81 2,002.10
2014-03-31 9,231.23 5,036.67 1,847.41
2013-12-31 8,733.93 4,865.53 1,692.72
2012-12-31 6,476.58 3,496.63 1,437.19

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Shengjing Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Shengjing Bank used its assets more efficiently than the DE Banks industry average last year based on Return on Assets.
  • Unable to establish if Shengjing Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Shengjing Bank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Shengjing Bank has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Shengjing Bank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Shengjing Bank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Shengjing Bank Company Filings, last reported 6 months ago.

DB:6SY Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 57,029.48 304,175.12 279,961.41
2018-09-30 57,029.48 304,175.12 279,961.41
2018-06-30 53,995.35 327,052.00 199,403.45
2018-03-31 53,995.35 327,052.00 199,403.45
2017-12-31 52,255.66 317,296.33 118,184.77
2017-09-30 52,255.66 317,296.33 118,184.77
2017-06-30 48,427.38 283,640.99 108,765.50
2017-03-31 48,427.38 283,640.99 108,765.50
2016-12-31 46,374.63 285,329.88 150,040.53
2016-09-30 46,374.63 285,329.88 150,040.53
2016-06-30 43,397.73 170,888.67 134,038.95
2016-03-31 44,765.90 62,628.12 61,521.29
2015-12-31 41,714.95 143,741.47 138,510.61
2015-09-30 41,714.95 143,741.47 138,510.61
2015-06-30 38,267.11 65,959.56 113,124.38
2015-03-31 38,267.11 65,959.56 113,124.38
2014-12-31 36,133.49 48,857.69 132,500.51
2014-09-30 36,133.49 48,857.69 132,500.51
2014-06-30 25,601.96 50,207.95 128,999.55
2014-03-31 25,601.96 50,207.95 128,999.55
2013-12-31 21,470.44 23,009.44 97,594.06
2012-12-31 14,657.82 48,493.59 90,259.40
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Shengjing Bank has an acceptable proportion of non-loan assets held.
  • Shengjing Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at Shengjing Bank are broadly funded by customer deposits.
  • Shengjing Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Shengjing Bank has a sufficient allowance for bad loans.
  • Shengjing Bank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Shengjing Bank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Shengjing Bank has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Shengjing Bank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.44%
Current annual income from Shengjing Bank dividends.
If you bought €2,000 of Shengjing Bank shares you are expected to receive €49 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Shengjing Bank's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Shengjing Bank's dividend is below the markets top 25% of dividend payers in Germany (3.85%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:6SY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:6SY Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-05-08 0.120 2.752
2018-05-31 0.180 5.187
2017-03-30 0.250 4.791
2016-06-13 0.281 4.107
2016-03-18 0.280 3.319
2015-05-26 0.279 3.624
2015-04-27 0.275 3.756
2015-03-25 0.275 4.240

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shengjing Bank has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Shengjing Bank has only been paying a dividend for 4 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Shengjing Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Shengjing Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Shengjing Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shengjing Bank has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Shengjing Bank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Qiang Zhang
COMPENSATION CN¥3,505,000
AGE 55
TENURE AS CEO 1.4 years
CEO Bio

Mr. Zhang Qiang has been the President of Shengjing Bank Co. Ltd., since February 28, 2018 and as its Executive Director since May 14, 2018. Mr. Qiang served as the vice president of the head office of CITIC Bank from February 2010 to January 2018. From April 2006 to February 2010, Mr. Qiang served as the assistant to president of the Head Office of CITIC Bank. From March 2000 to April 2006, he served as the executive deputy manager and general manager of the Business Department of the Head Office of CITIC Bank. From March 1998 to March 2000, he served as the vice president of Qingdao Branch and president of Jinan Branch of CITIC Bank. From June 1990 to March 1998, he served as the section chief, deputy general manager and general manager of the Credit Department of the Head Office of CITIC Bank. From August 1987 to June 1990, Mr. Zhang served as manager of fund credit department of China Huacheng Finance Company. From August 1986 to August 1987, Mr. Zhang attended the central government lecturers group to go to western Hubei to support education. From July 1983 to August 1986, Mr. Zhang served as a cadre of the planning department of the State Ministry of Textile Industry. Mr. Zhang graduated from Zhongnan University of Finance and Economics with a bachelor’s degree in July 1983 and obtained a master’s degree in finance from Liaoning University in September 1998. He obtained the senior economist title in December 1995.

CEO Compensation
  • Qiang's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Qiang's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Shengjing Bank management team in years:

5.9
Average Tenure
54
Average Age
  • The average tenure for the Shengjing Bank management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Qiang Zhang

TITLE
President & Executive Director
COMPENSATION
CN¥4M
AGE
55
TENURE
1.4 yrs

Huifa Qiu

TITLE
Vice Chairman of the Board
COMPENSATION
CN¥43K
AGE
59

Yigong Wang

TITLE
Chief Risk Officer
COMPENSATION
CN¥3M
AGE
53
TENURE
6.5 yrs

Gang Wu

TITLE
VP & Executive Director
COMPENSATION
CN¥3M
AGE
49
TENURE
6.5 yrs

Zhiyan Liu

TITLE
CFO and GM of Planning & Accounting Management Department
COMPENSATION
CN¥463K
AGE
59
TENURE
5.1 yrs

Yi Zhang

TITLE
Chief Information Officer & GM of Information Technology Department
AGE
49
TENURE
5.9 yrs

Guang Hu

TITLE
Chief Internal Auditor
COMPENSATION
CN¥577K
AGE
60
TENURE
8.8 yrs

Zhi Zhou

TITLE
Secretary of the Board
AGE
50
TENURE
4.4 yrs
Board of Directors Tenure

Average tenure and age of the Shengjing Bank board of directors in years:

1.4
Average Tenure
55
Average Age
  • The average tenure for the Shengjing Bank board of directors is less than 3 years, this suggests a new board.
Board of Directors

Tiancai Xing

TITLE
Chairman of the Board
COMPENSATION
CN¥254K
AGE
58
TENURE
0.3 yrs

Qiang Zhang

TITLE
President & Executive Director
COMPENSATION
CN¥4M
AGE
55
TENURE
1.2 yrs

Huifa Qiu

TITLE
Vice Chairman of the Board
COMPENSATION
CN¥43K
AGE
59
TENURE
1.4 yrs

Yigong Wang

TITLE
Chief Risk Officer
COMPENSATION
CN¥3M
AGE
53
TENURE
5.9 yrs

Gang Wu

TITLE
VP & Executive Director
COMPENSATION
CN¥3M
AGE
49
TENURE
5.2 yrs

Guoju Ni

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥254K
AGE
64
TENURE
1.4 yrs

Jinyi Li

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥254K
AGE
55
TENURE
1.4 yrs

Liya Yang

TITLE
Chairman of the Board of Supervisors
AGE
55
TENURE
0.9 yrs

Yanxue Liu

TITLE
Non-Executive Director
COMPENSATION
CN¥4M
AGE
53
TENURE
1.4 yrs

Yuguo Li

TITLE
Non-Executive Director
COMPENSATION
CN¥19K
AGE
65
TENURE
6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Shengjing Bank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Shengjing Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Shengjing Bank Co., Ltd. provides banking products and services to individual and corporate customers in Mainland China. Its Corporate Banking segment offers corporate loans and advances, trade financing and deposit taking services, agency services, and remittance and settlement services to corporations, government agencies, and financial institutions. The company’s Retail Banking segment provides financial products and services to retail customers, including personal loans and deposit taking services, bank cards, personal wealth management services, remittance and settlement services, and collection and payment agency services. Its Treasury Business segment is involved in inter-bank money market transactions, repurchases transactions, and investment activities, as well as trading in debt securities. The company also provides online and mobile banking services. As of December 31, 2018, it operated 205 operating institutions, including 1 head office, 3 branch-level specialized institutions, 18 branches, 8 small and micro sub-branches, and 175 sub-branches; and 2,934 self-service facilities, such as 325 ATMs, 313 cash recycling systems, 115 inquiry and payment machines, 249 card activating machines, 41 VTMs, 30 online banking machines, 30 mobile banking machines, 47 smart queuing machines, 212 smart counters, 30 high-speed cash recycling systems, 22 interactive tables, and 1,520 smart self-service terminals. The company was formerly known as Shenyang Commercial Bank Co., Ltd. and changed its name to Shengjing Bank Co., Ltd. in February 2007. Shengjing Bank Co., Ltd. was founded in 1997 and is headquartered in Shenyang, the People’s Republic of China.

Details
Name: Shengjing Bank Co., Ltd.
6SY
Exchange: DB
Founded: 1997
HK$3,702,590,221
5,796,680,200
Website: http://www.shengjingbank.com.cn
Address: Shengjing Bank Co., Ltd.
No. 109, North Station Road,
Shenhe District,
Shenyang,
Liaoning Province, 110013,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2066 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 29. Dec 2014
DB 6SY Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 29. Dec 2014
SHSC 2066 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 29. Dec 2014
SZSC 2066 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 29. Dec 2014
Number of employees
Current staff
Staff numbers
5,434
Shengjing Bank employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 22:04
End of day share price update: 2019/07/17 00:00
Last earnings filing: 2019/03/29
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.