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China Huarong Asset Management

DB:CHE
Snowflake Description

High growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CHE
DB
HK$53B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

China Huarong Asset Management Co., Ltd., together with its subsidiaries, provides various financial asset management services. The last earnings update was 88 days ago. More info.


Add to Portfolio Compare Print
  • China Huarong Asset Management has significant price volatility in the past 3 months.
CHE Share Price and Events
7 Day Returns
0.2%
DB:CHE
2.4%
DE Capital Markets
1.6%
DE Market
1 Year Returns
-46.9%
DB:CHE
-9.1%
DE Capital Markets
-7.4%
DE Market
CHE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Huarong Asset Management (CHE) 0.2% -1.3% -21.3% -46.9% -61% -
DE Capital Markets 2.4% 0.7% 2.8% -9.1% -10.1% -40.8%
DE Market 1.6% 1.5% 3% -7.4% 14.7% 9.4%
1 Year Return vs Industry and Market
  • CHE underperformed the Capital Markets industry which returned -9.1% over the past year.
  • CHE underperformed the Market in Germany which returned -7.4% over the past year.
Price Volatility
CHE
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for China Huarong Asset Management's competitors could be found in our database.

CHE Value

 Is China Huarong Asset Management 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 China Huarong Asset Management 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 China Huarong Asset Management.

DB:CHE 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¥3.89 * 11.8%
CN¥0.46
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. CN¥3.89
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:CHE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.696 (1 + (1- 25%) (2443.42%))
9.342
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:CHE using Excess Returns Model Model

The calculations below outline how an intrinsic value for China Huarong Asset Management 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:CHE Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.8% – 12.15%) * CN¥3.89)
CN¥-0.01
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥-0.01 / (12.15% - 0.23%)
CN¥-0.11
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥3.89 + CN¥-0.11
CN¥3.78
DB:CHE Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2799)
1.135
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥3.78 x 1.135
HK$4.29
Non-primary Listing Adjustment Factor 1 share in DB:CHE represents 0.09728x of SEHK:2799
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09728x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 4.29 x 0.09728
€0.42
Value per share (EUR) From above. €0.42
Current discount Discount to share price of €0.13
= -1 x (€0.13 - €0.42) / €0.42
68.3%

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

Current Discount
Amount off the current price China Huarong Asset Management is available for.
Intrinsic value
>50%
Share price is €0.1323 vs Future cash flow value of €0.41728
Current Discount Checks
For China Huarong Asset Management to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Huarong Asset Management's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China Huarong Asset Management'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 China Huarong Asset Management's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Huarong Asset Management's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CHE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.04
SEHK:2799 Share Price ** SEHK (2019-06-24) in HKD HK$1.36
SEHK:2799 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥1.2
Germany Capital Markets Industry PE Ratio Median Figure of 19 Publicly-Listed Capital Markets Companies 22.97x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 20.07x

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

** Primary Listing of China Huarong Asset Management.

DB:CHE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2799 Share Price ÷ EPS (both in CNY)

= 1.2 ÷ 0.04

29.7x

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

  • China Huarong Asset Management is overvalued based on earnings compared to the DE Capital Markets industry average.
  • China Huarong Asset Management is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does China Huarong Asset Management's expected growth come at a high price?
Raw Data
DB:CHE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 29.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
25.5%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 8 Publicly-Listed Capital Markets Companies 2.61x
Germany Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.46x

*Line of best fit is calculated by linear regression .

DB:CHE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 29.7x ÷ 25.5%

1.16x

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

  • China Huarong Asset Management is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on China Huarong Asset Management's assets?
Raw Data
DB:CHE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥3.61
SEHK:2799 Share Price * SEHK (2019-06-24) in HKD HK$1.36
SEHK:2799 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥1.2
Germany Capital Markets Industry PB Ratio Median Figure of 31 Publicly-Listed Capital Markets Companies 1.98x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.8x
DB:CHE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2799 Share Price ÷ Book Value per Share (both in CNY)

= 1.2 ÷ 3.61

0.33x

* Primary Listing of China Huarong Asset Management.

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

  • China Huarong Asset Management is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess China Huarong Asset Management'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. China Huarong Asset Management has a total score of 3/6, 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.

CHE Future Performance

 How is China Huarong Asset Management expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

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
25.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Huarong Asset Management expected to grow at an attractive rate?
  • China Huarong Asset Management's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • China Huarong Asset Management's earnings growth is expected to exceed the Germany market average.
  • China Huarong Asset Management's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:CHE Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:CHE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 25.5%
DB:CHE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 28.8%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 21.4%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.4%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*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:CHE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:CHE Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 123,209 8,499 2
2020-12-31 115,891 13,024 2
2019-12-31 110,863 11,617 2
DB:CHE Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 41,843 -29,175 1,576
2018-09-30 51,099 -31,411 5,446
2018-06-30 54,337 -33,647 9,317
2018-03-31 62,113 -2,955 15,655
2017-12-31 75,905 27,736 21,993
2017-09-30 68,443 -23,310 21,793
2017-06-30 60,981 -74,356 21,594
2017-03-31 54,752 -69,964 20,604
2016-12-31 48,523 -65,571 19,613
2016-09-30 46,661 -16,909 18,509
2016-06-30 44,798 31,752 17,405
2016-03-31 42,999 1,256 16,057

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Huarong Asset Management's earnings are expected to grow significantly at over 20% yearly.
  • China Huarong Asset Management's revenue is expected to grow significantly at over 20% yearly.
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:CHE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from China Huarong Asset Management Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CHE Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.22 0.39 0.05 2.00
2020-12-31 0.33 0.33 0.33 2.00
2019-12-31 0.30 0.31 0.29 2.00
DB:CHE Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.04
2018-09-30 0.14
2018-06-30 0.24
2018-03-31 0.40
2017-12-31 0.56
2017-09-30 0.56
2017-06-30 0.55
2017-03-31 0.53
2016-12-31 0.50
2016-09-30 0.49
2016-06-30 0.47
2016-03-31 0.45

*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.
  • China Huarong Asset Management is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess China Huarong Asset Management'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.
China Huarong Asset Management has a total score of 5/6, 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.

CHE Past Performance

  How has China Huarong Asset Management 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 China Huarong Asset Management's growth in the last year to its industry (Capital Markets).
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.
  • China Huarong Asset Management's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • China Huarong Asset Management's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • China Huarong Asset Management's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
China Huarong Asset Management'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 China Huarong Asset Management Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CHE 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 41,843.12 1,575.50 738.42
2018-09-30 51,098.60 5,446.09 728.14
2018-06-30 54,337.01 9,316.68 717.87
2018-03-31 62,112.55 15,654.64 717.87
2017-12-31 75,905.15 21,992.59 717.87
2017-09-30 68,442.97 21,793.32 656.30
2017-06-30 60,980.78 21,594.05 594.73
2017-03-31 54,751.95 20,603.76 594.73
2016-12-31 48,523.12 19,613.46 594.73
2016-09-30 46,660.63 18,509.07 391.98
2016-06-30 44,798.14 17,404.67 189.23
2016-03-31 42,999.44 16,057.12 326.05
2015-12-31 39,761.74 14,482.05 326.05
2015-09-30 37,544.00 13,958.97 321.53
2015-06-30 35,326.26 13,435.89 317.02
2015-03-31 29,880.32 12,028.12 167.11
2014-12-31 27,848.75 10,656.93 180.20
2014-09-30 25,920.19 10,243.39 98.75
2014-06-30 23,991.63 9,829.85 17.31
2014-03-31 22,086.35 9,148.53 21.04
2013-12-31 20,650.20 8,659.59 24.76
2012-12-31 14,290.44 5,892.16 -11.63

*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.
  • China Huarong Asset Management has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Huarong Asset Management used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if China Huarong Asset Management 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 China Huarong Asset Management'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 Capital Markets 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.
China Huarong Asset Management has a total score of 1/6, 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.

CHE Health

 How is China Huarong Asset Management's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up China Huarong Asset Management's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Huarong Asset Management is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Huarong Asset Management's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China Huarong Asset Management'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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.9x debt.
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 China Huarong Asset Management Company Filings, last reported 5 months ago.

DB:CHE Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 168,604.97 1,143,425.24 567,289.72
2018-09-30 168,604.97 1,143,425.24 567,289.72
2018-06-30 171,811.60 1,235,224.73 666,236.95
2018-03-31 171,811.60 1,235,224.73 666,236.95
2017-12-31 182,634.86 1,211,085.22 345,640.46
2017-09-30 182,634.86 1,211,085.22 345,640.46
2017-06-30 170,061.73 982,171.71 241,401.29
2017-03-31 170,061.73 982,171.71 241,401.29
2016-12-31 150,081.00 820,978.82 231,864.02
2016-09-30 150,081.00 820,978.82 231,864.02
2016-06-30 131,653.00 631,847.02 162,190.23
2016-03-31 131,653.00 631,847.02 162,190.23
2015-12-31 118,800.60 477,142.48 141,755.05
2015-09-30 118,800.60 477,142.48 141,755.05
2015-06-30 97,149.07 393,349.89 81,604.36
2015-03-31 90,918.41 360,910.66 66,536.41
2014-12-31 83,532.11 327,727.60 63,379.54
2014-09-30 83,532.11 327,727.60 63,379.54
2014-06-30 59,455.00 246,155.75 62,089.38
2014-03-31 52,534.16 208,989.71 85,073.06
2013-12-31 52,534.16 208,989.71 85,073.06
2012-12-31 42,571.47 163,421.54 75,886.14
  • China Huarong Asset Management's level of debt (678.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (397.8% vs 678.2% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on China Huarong Asset Management's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess China Huarong Asset Management'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. China Huarong Asset Management has a total score of 2/6, 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.

CHE Dividends

 What is China Huarong Asset Management'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
1.01%
Current annual income from China Huarong Asset Management dividends. Estimated to be 7.65% next year.
If you bought €2,000 of China Huarong Asset Management shares you are expected to receive €20 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?
  • China Huarong Asset Management's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • China Huarong Asset Management's dividend is below the markets top 25% of dividend payers in Germany (3.87%).
Upcoming dividend payment

Purchase China Huarong Asset Management before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:CHE 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 3 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 328 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:CHE Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.12 1.00
2020-12-31 0.09 3.00
2019-12-31 0.08 2.00
DB:CHE Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-28 0.012 0.935
2018-03-20 0.169 10.821
2017-03-16 0.151 5.160

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

  • China Huarong Asset Management has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • China Huarong Asset Management has only been paying a dividend for 2 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of China Huarong Asset Management's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess China Huarong Asset Management'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 China Huarong Asset Management afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Huarong Asset Management 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.

CHE Management

 What is the CEO of China Huarong Asset Management'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
Xin Li
COMPENSATION CN¥1,284,461
AGE 58
TENURE AS CEO 0.8 years
CEO Bio

Ms. Li Xin serves as President at China Huarong Asset Management Co., Ltd since September 27, 2018 and serves as its Executive Director since June 29, 2018. She has served as the deputy party committee secretary of China Huarong Asset Management Co., Ltd. since April 2018, and was accredited as a senior economist by Bank of China (“BOC”) in December 1996. Ms. Li began her career in February 1980, and has served as party committee member and vice president of Jiangsu Yangzhou Branch of BOC from August 1992 to October 1996, leader of the Organization Group of Jiangsu Taizhou Branch of BOC from October 1996 to March 1997, party committee secretary and president of Jiangsu Taizhou Branch of BOC from March 1997 to March 1998, president of Jiangsu Yangzhou Branch of BOC from March 1998 to November 1998, party committee secretary and president of Jiangsu Yangzhou Branch of BOC from November 1998 to October 2001, party committee member and deputy general manager of the Nanjing Office of China Orient Asset Management Corporation (now known as China Orient Asset Management Co., Ltd.) (“China Orient”) from October 2001 to November 2004, leader of the Organization Group of the Asset Management Department of the headquarters of China Orient from November 2004 to June 2005, general manager of the Asset Management Department of the headquarters of China Orient from June 2005 to November 2005, general manager of the Market Development Department and general manager of the Asset Management Department of the headquarters of China Orient from November 2005 to April 2006, party committee member and assistant-to-president of China Orient and general manager of the Asset Management Department and Market Development Department from April 2006 to May 2006, party committee member and assistant-to-president of China Orient and general manager of the Market Development Department from May 2006 to November 2006, party committee member and assistant-to-president of China Orient from November 2006 to April 2007, party committee member and vice president of China Orient from April 2007 to May 2016, deputy secretary of the party committee and chairman of the board of supervisors of China Orient from May 2016 to April 2018. Ms. Li graduated with a bachelor’s degree in international economics from the School of Correspondence Education of Party School of the Central Committee of the Communist Party of China in December 2000.

CEO Compensation
  • Insufficient data for Xin to compare compensation growth.
  • Xin's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the China Huarong Asset Management management team in years:

1
Average Tenure
56
Average Age
  • The average tenure for the China Huarong Asset Management management team is less than 2 years, this suggests a new team.
Management Team

Zhanfeng Wang

TITLE
Chairman of the Board
COMPENSATION
CN¥1M
AGE
51

Xin Li

TITLE
President & Executive Director
COMPENSATION
CN¥1M
AGE
58
TENURE
0.8 yrs

Yonghua Li

TITLE
Head of the Financial Department

Jinglong Wu

TITLE
Member of the Senior Management
AGE
54
TENURE
1.2 yrs

Wenjie Wang

TITLE
VP & Joint Company Secretary
AGE
57
TENURE
0.5 yrs

Maurice Ngai

TITLE
Joint Company Secretary
AGE
56
TENURE
4.2 yrs
Board of Directors Tenure

Average tenure and age of the China Huarong Asset Management board of directors in years:

2.6
Average Tenure
56.5
Average Age
  • The average tenure for the China Huarong Asset Management board of directors is less than 3 years, this suggests a new board.
Board of Directors

Xin Li

TITLE
President & Executive Director
COMPENSATION
CN¥1M
AGE
58
TENURE
1 yrs

Cong Wang

TITLE
Non-Executive Director
AGE
55
TENURE
6.8 yrs

Zhanfeng Wang

TITLE
Chairman of the Board
COMPENSATION
CN¥1M
AGE
51
TENURE
0.8 yrs

Lijia Dai

TITLE
Non-Executive Director
AGE
47
TENURE
6.8 yrs

Aloysius Tse

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥250K
AGE
70
TENURE
4.3 yrs

Zhongfu Ma

TITLE
Chairman of the Board of Supervisors
AGE
52
TENURE
2.7 yrs

Jing Chun Shao

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥250K
AGE
61
TENURE
2.6 yrs

Junmin Liu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥250K
AGE
68
TENURE
4 yrs

Langlang Zhou

TITLE
Non-Executive Director
AGE
38
TENURE
2.2 yrs

Yi Li

TITLE
Non-Executive Director
AGE
58
TENURE
2.4 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 China Huarong Asset Management'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. China Huarong Asset Management 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.

CHE News

Simply Wall St News

CHE Company Info

Description

China Huarong Asset Management Co., Ltd., together with its subsidiaries, provides various financial asset management services. It operates through three segments: Distressed Asset Management, Financial Services, and Asset Management and Investment. The company manages, invests in, and disposes financial and non-financial institution distressed assets, including debt-to-equity swap assets. It is also involved in bankruptcy management, and investment and securities dealing activities; provision of financial bonds issuance, inter-bank borrowing and lending, and commercial financing for other financial institutions; asset securitization, financial institutions custody, and closing and liquidation of businesses; consulting and advisory business on finance, investment, legal, and risk management activities; and assets and project evaluation businesses. In addition, the company offers lending services to corporates and individuals, as well as clearing and settlement, financial leasing, securities and futures, fund management and asset management, trust, real estate and industrial investments, and other services, as well as accepts deposits from customers. Further, it provides leasing, futures broking, wealth management, and investment banking services, as well as personal consumption loan. The company operates 31 branches in 30 provinces, autonomous regions, and municipalities in Mainland China, and Hong Kong and Macau. China Huarong Asset Management Co., Ltd. was founded in 1999 and is headquartered in Beijing, the People’s Republic of China.

Details
Name: China Huarong Asset Management Co., Ltd.
CHE
Exchange: DB
Founded: 1999
HK$5,969,009,870
39,070,208,462
Website: http://www.chamc.com.cn
Address: China Huarong Asset Management Co., Ltd.
No. 8, Financial Street,
Xicheng District,
Beijing,
100033,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2799 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 30. Oct 2015
DB CHE Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 30. Oct 2015
SHSC 2799 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 30. Oct 2015
SZSC 2799 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 30. Oct 2015
Number of employees
Current staff
Staff numbers
11,799
China Huarong Asset Management employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 22:20
End of day share price update: 2019/06/24 00:00
Last estimates confirmation: 2019/06/20
Last earnings filing: 2019/03/28
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.