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China Minsheng Financial Holding

DB:HKQ3
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HKQ3
DB
HK$4B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

China Minsheng Financial Holding Corporation Limited, an investment holding company, provides asset management services primarily in Hong Kong and Mainland China. The last earnings update was 24 days ago. More info.


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  • China Minsheng Financial Holding has significant price volatility in the past 3 months.
HKQ3 Share Price and Events
7 Day Returns
0%
DB:HKQ3
-1.7%
DE Capital Markets
-3.2%
DE Market
1 Year Returns
0%
DB:HKQ3
-13.8%
DE Capital Markets
-11.6%
DE Market
HKQ3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Minsheng Financial Holding (HKQ3) 0% 0% -33.3% 0% -87.7% -16.7%
DE Capital Markets -1.7% -4.9% 0.7% -13.8% -23% -48.4%
DE Market -3.2% -5.1% 0.3% -11.6% 5.3% 5.9%
1 Year Return vs Industry and Market
  • HKQ3 outperformed the Capital Markets industry which returned -13.8% over the past year.
  • HKQ3 outperformed the Market in Germany which returned -11.6% over the past year.
Price Volatility
HKQ3
Industry
5yr Volatility vs Market

Value

 Is China Minsheng Financial Holding 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 Minsheng Financial Holding 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 Minsheng Financial Holding.

DB:HKQ3 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
= HK$0.19 * 2.6%
HK$0.00
Book Value of Equity per Share Median Book Value from the past 5 years. HK$0.19
Discount Rate (Cost of Equity) See below 5.9%
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:HKQ3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.699 (1 + (1- 25%) (14.76%))
0.85
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.85 * 6.65%)
5.88%

Discounted Cash Flow Calculation for DB:HKQ3 using Excess Returns Model Model

The calculations below outline how an intrinsic value for China Minsheng Financial Holding 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:HKQ3 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (2.6% – 5.88%) * HK$0.19)
HK$-0.01
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= HK$-0.01 / (5.88% - 0.23%)
HK$-0.11
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= HK$0.19 + HK$-0.11
HK$0.08
DB:HKQ3 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:HKQ3 represents 0.0813x of SEHK:245
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.0813x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 0.08 x 0.0813
€0.01
Value per share (EUR) From above. €0.01
Current discount Discount to share price of €0.01
= -1 x (€0.01 - €0.01) / €0.01
-56.4%

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

  • The current share price of China Minsheng Financial Holding is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Minsheng Financial Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Minsheng Financial Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:HKQ3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.00
SEHK:245 Share Price ** SEHK (2019-05-24) in HKD HK$0.12
Germany Capital Markets Industry PE Ratio Median Figure of 19 Publicly-Listed Capital Markets Companies 18.99x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 20.22x

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

** Primary Listing of China Minsheng Financial Holding.

DB:HKQ3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:245 Share Price ÷ EPS (both in HKD)

= 0.12 ÷ 0.00

24.84x

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

  • China Minsheng Financial Holding is overvalued based on earnings compared to the DE Capital Markets industry average.
  • China Minsheng Financial Holding is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does China Minsheng Financial Holding's expected growth come at a high price?
Raw Data
DB:HKQ3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 24.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
35%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 8 Publicly-Listed Capital Markets Companies 2.5x
Germany Market PEG Ratio Median Figure of 272 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 China Minsheng Financial Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on China Minsheng Financial Holding's assets?
Raw Data
DB:HKQ3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$0.19
SEHK:245 Share Price * SEHK (2019-05-24) in HKD HK$0.12
Germany Capital Markets Industry PB Ratio Median Figure of 30 Publicly-Listed Capital Markets Companies 1.72x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:HKQ3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:245 Share Price ÷ Book Value per Share (both in HKD)

= 0.12 ÷ 0.19

0.63x

* Primary Listing of China Minsheng Financial Holding.

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

  • China Minsheng Financial Holding is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess China Minsheng Financial Holding'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 Minsheng Financial Holding has a total score of 1/6, 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 China Minsheng Financial Holding expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover China Minsheng Financial Holding, 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
35%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Minsheng Financial Holding expected to grow at an attractive rate?
  • China Minsheng Financial Holding's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • China Minsheng Financial Holding's earnings growth is expected to exceed the Germany market average.
  • Unable to compare China Minsheng Financial Holding's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:HKQ3 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:HKQ3 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 35%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 24.5%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:HKQ3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:HKQ3 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 384 1,361 143
2018-09-30 434 916 198
2018-06-30 483 471 253
2018-03-31 445 105 223
2017-12-31 407 -260 192
2017-09-30 394 -1,137 166
2017-06-30 380 -2,014 140
2017-03-31 303 -3,117 88
2016-12-31 225 -4,220 37
2016-09-30 173 -3,461 15
2016-06-30 121 -2,701 -8
2016-03-31 161 -1,365 -18

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Minsheng Financial Holding's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if China Minsheng Financial Holding 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:HKQ3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from China Minsheng Financial Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HKQ3 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.00
2018-09-30 0.01
2018-06-30 0.01
2018-03-31 0.01
2017-12-31 0.01
2017-09-30 0.01
2017-06-30 0.00
2017-03-31 0.00
2016-12-31 0.00
2016-09-30 0.00
2016-06-30 0.00
2016-03-31 0.00

*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 China Minsheng Financial Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess China Minsheng Financial Holding'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 Minsheng Financial Holding has a total score of 3/6, 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 China Minsheng Financial Holding 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 Minsheng Financial Holding'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 Minsheng Financial Holding has delivered over 20% year on year earnings growth in the past 5 years.
  • China Minsheng Financial Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • China Minsheng Financial Holding's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
China Minsheng Financial Holding'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 Minsheng Financial Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HKQ3 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 384.16 143.23 171.74
2018-09-30 433.61 198.30 177.77
2018-06-30 483.05 253.37 183.81
2018-03-31 444.90 222.70 164.22
2017-12-31 406.74 192.03 144.63
2017-09-30 393.60 165.85 135.41
2017-06-30 380.47 139.67 126.19
2017-03-31 302.62 88.30 112.64
2016-12-31 224.77 36.93 99.09
2016-09-30 172.84 14.66 70.47
2016-06-30 120.90 -7.62 41.86
2016-03-31 161.00 -18.10 31.68
2015-12-31 201.09 -28.58 21.49
2015-09-30 189.13 -28.27 27.27
2015-06-30 177.17 -27.96 33.05
2015-03-31 122.63 -29.05 34.70
2014-12-31 68.09 -30.14 36.35
2014-09-30 65.39 -29.22 33.31
2014-06-30 62.69 -28.29 30.26
2014-03-31 87.38 -15.02 35.10
2013-12-31 112.06 -1.76 39.95
2013-09-30 236.53 4.35 59.93
2013-06-30 361.00 10.45 79.91
2013-03-31 483.05 6.88 85.85
2012-12-31 605.10 3.31 91.79
2012-06-30 626.43 0.33 76.87

*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 Minsheng Financial Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Minsheng Financial Holding used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if China Minsheng Financial Holding 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 Minsheng Financial Holding'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 Minsheng Financial Holding 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.

Health

 How is China Minsheng Financial Holding'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 Minsheng Financial Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Minsheng Financial Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Minsheng Financial Holding has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China Minsheng Financial Holding'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 covered by short term assets, assets are 9.4x 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 Minsheng Financial Holding Company Filings, last reported 4 months ago.

DB:HKQ3 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 5,356.83 525.04 4,073.50
2018-09-30 5,356.83 525.04 4,073.50
2018-06-30 5,400.26 457.62 3,602.85
2018-03-31 5,400.26 457.62 3,602.85
2017-12-31 5,275.14 754.44 1,171.44
2017-09-30 5,275.14 754.44 1,171.44
2017-06-30 5,267.47 1,064.58 1,275.33
2017-03-31 5,267.47 1,064.58 1,275.33
2016-12-31 5,016.74 742.71 1,560.91
2016-09-30 5,016.74 742.71 1,560.91
2016-06-30 5,057.60 2.66 2,254.12
2016-03-31 5,057.60 2.66 2,254.12
2015-12-31 5,039.65 0.00 5,062.47
2015-09-30 5,039.65 0.00 5,062.47
2015-06-30 44.04 0.00 72.58
2015-03-31 44.04 0.00 72.58
2014-12-31 3.83 0.00 29.57
2014-09-30 3.83 0.00 29.57
2014-06-30 -4.21 0.00 28.83
2014-03-31 -4.21 0.00 28.83
2013-12-31 14.16 0.00 40.86
2013-09-30 14.16 0.00 40.86
2013-06-30 54.61 0.00 49.00
2013-03-31 54.61 0.00 49.00
2012-12-31 35.85 9.94 62.04
2012-06-30 5.51 9.75 25.51
  • China Minsheng Financial Holding's level of debt (9.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 9.8% today).
  • Debt is well covered by operating cash flow (259.2%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on China Minsheng Financial Holding's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess China Minsheng Financial Holding'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 Minsheng Financial Holding has a total score of 4/6, 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 China Minsheng Financial Holding'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
0%
Current annual income from China Minsheng Financial Holding dividends.
If you bought €2,000 of China Minsheng Financial Holding shares you are expected to receive €0 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?
  • Unable to evaluate China Minsheng Financial Holding's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate China Minsheng Financial Holding's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:HKQ3 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 Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
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.

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

  • Unable to perform a dividend volatility check as China Minsheng Financial Holding has not reported any payouts.
  • Unable to verify if China Minsheng Financial Holding's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of China Minsheng Financial Holding's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as China Minsheng Financial Holding has not reported any payouts.
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 China Minsheng Financial Holding'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 Minsheng Financial Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Minsheng Financial Holding has a total score of 0/6, 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 China Minsheng Financial Holding'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
Tomohiko Watanabe
AGE 52
TENURE AS CEO 0.2 years
CEO Bio

Mr. Tomohiko Watanabe has been Executive Director and Chairman at China Minsheng Financial Holding Corporation Limited since February 18, 2019. Mr. Watanabe serves as Chief Executive Officer at China Minsheng Financial Holding Corporation Limited since March 05, 2019. Mr. Watanabe is the vice-president of Vered Holdings Corporation (‘‘Vered’’). Prior to joining Vered, Mr. Watanabe had been employed by MUFG Bank (China), Ltd. (previously known as Bank of Tokyo-Mitsubishi UFJ (China), Ltd.) in various positions since 2009, including the General Manager of its China Business Division to take responsibility for corporate banking business for Chinese SOE and Multi-National corporations in the Greater China region, China Investment Banking Division and Corporate Planning Division, and also as Deputy General Manager of MUFG Bank (China), Ltd.’s Beijing branch. Mr. Watanabe obtained a bachelor degree in Economics from the Political Science and Economics, Waseda University in Japan.

CEO Compensation
  • Insufficient data for Tomohiko to compare compensation growth.
  • Insufficient data for Tomohiko to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the China Minsheng Financial Holding management team in years:

3.3
Average Tenure
50.5
Average Age
  • The tenure for the China Minsheng Financial Holding management team is about average.
Management Team

Xinguang Ni

TITLE
Vice Chairman
COMPENSATION
HK$976K
AGE
49

Zheng Li

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
30

Wei Li

TITLE
Executive VP & Executive Director
COMPENSATION
HK$1M
AGE
41

Tomohiko Watanabe

TITLE
Chairman & CEO
AGE
52
TENURE
0.2 yrs

Anthony Ho

TITLE
Chief Investment Officer
AGE
52

Wentao Tan

TITLE
Head of Securities
TENURE
3.2 yrs

Fenfai Chen

TITLE
President of China Region
COMPENSATION
HK$2M
TENURE
3.4 yrs

Choi Chak Wong

TITLE
Company Secretary
AGE
53
TENURE
4 yrs
Board of Directors Tenure

Average tenure and age of the China Minsheng Financial Holding board of directors in years:

0.8
Average Tenure
52
Average Age
  • The average tenure for the China Minsheng Financial Holding board of directors is less than 3 years, this suggests a new board.
Board of Directors

Xinguang Ni

TITLE
Vice Chairman
COMPENSATION
HK$976K
AGE
49
TENURE
1.5 yrs

Zheng Li

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
30
TENURE
0.8 yrs

Wei Li

TITLE
Executive VP & Executive Director
COMPENSATION
HK$1M
AGE
41
TENURE
0.8 yrs

Tomohiko Watanabe

TITLE
Chairman & CEO
AGE
52
TENURE
0.3 yrs

Wei Lyu

TITLE
Independent Non Executive Director
COMPENSATION
HK$250K
AGE
54
TENURE
13.9 yrs

Yongli Wang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$34K
AGE
54
TENURE
0.5 yrs

Hui Zhou

TITLE
Independent Non-Executive Director
AGE
55
TENURE
0.2 yrs

Yu Zhang Ling

TITLE
Independent Non-Executive Director
COMPENSATION
HK$250K
AGE
74
TENURE
7.7 yrs

Dongzhi Wang

TITLE
Non-Executive Director
COMPENSATION
HK$979K
AGE
51
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
11. Feb 19 Buy Vered Holdings Group Ltd Company 08. Feb 19 08. Feb 19 8,133,000,000 €0.02 €178,458,759
12. Feb 19 Sell CMI Financial Holding Company Limited Company 08. Feb 19 08. Feb 19 -8,133,000,000 €0.02 €-178,458,759
22. Jan 19 Buy CMI Financial Holding Company Limited Company 18. Jan 19 18. Jan 19 2,389,910,000 €0.03 €65,648,339
22. Jan 19 Sell Zheng Li Individual 18. Jan 19 18. Jan 19 -2,389,910,000 €0.03 €-65,648,339
28. Sep 18 Sell Wanzaixingjun Investment Center (Limited Partnership) Company 18. Sep 18 18. Sep 18 -930,000 €0.03 €-31,261
30. Jul 18 Buy Zheng Li Individual 26. Jul 18 26. Jul 18 2,389,910,000 €0.03 €65,272,313
27. Jul 18 Sell Siu Hang Mak Individual 26. Jul 18 26. Jul 18 -2,389,910,000 €0.03 €-65,272,313
X
Management checks
We assess China Minsheng Financial Holding'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 Minsheng Financial Holding 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

China Minsheng Financial Holding Corporation Limited, an investment holding company, provides asset management services primarily in Hong Kong and Mainland China. It operates through Asset Management, Securities Brokerage, Investment Holding, Investment Banking, Insurance Agency, and Others segments. The company also provides consultancy, financing, insurance agency, and securities advisory and brokerage services. In addition, it is involved in trading chemical materials. The company was formerly known as China Seven Star Holdings Limited and changed its name to China Minsheng Financial Holding Corporation Limited in December 2015. The company is based in Central, Hong Kong. China Minsheng Financial Holding Corporation Limited is a subsidiary of CMI Financial Holding Company Limited.

Details
Name: China Minsheng Financial Holding Corporation Limited
HKQ3
Exchange: DB
Founded:
HK$404,447,625
28,928,719,250
Website: http://www.cm-fin.com
Address: China Minsheng Financial Holding Corporation Limited
AIA Central,
Suite 1302,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 245 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
DB HKQ3 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
SHSC 245 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 02. Jan 1992
SZSC 245 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 02. Jan 1992
Number of employees
Current staff
Staff numbers
84
China Minsheng Financial Holding employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 21:01
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/04/30
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.