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Bank of Chongqing

SEHK:1963
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1963
SEHK
HK$14B
Market Cap
  1. Home
  2. HK
  3. Banks
Company description

Bank of Chongqing Co., Ltd. provides various banking and related financial services in the People’s Republic of China. The last earnings update was 80 days ago. More info.


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1963 Share Price and Events
7 Day Returns
-0.2%
SEHK:1963
-0.2%
HK Banks
-0.2%
HK Market
1 Year Returns
-5.9%
SEHK:1963
-4.9%
HK Banks
-4.5%
HK Market
1963 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bank of Chongqing (1963) -0.2% -2.5% -9.7% -5.9% -20.8% -11.3%
HK Banks -0.2% -1.9% -10.5% -4.9% 13.1% 0.9%
HK Market -0.2% 2.7% -8.3% -4.5% 16.5% 1%
1 Year Return vs Industry and Market
  • 1963 underperformed the Banks industry which returned -4.9% over the past year.
  • 1963 underperformed the Market in Hong Kong which returned -4.5% over the past year.
Price Volatility
1963
Industry
5yr Volatility vs Market

1963 Value

 Is Bank of Chongqing 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 Bank of Chongqing 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 Bank of Chongqing.

SEHK:1963 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¥10.83 * 13.7%
CN¥1.49
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. CN¥10.83
Discount Rate (Cost of Equity) See below 13.9%
Perpetual Growth Rate 10-Year HK Government Bond Rate 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 SEHK:1963
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.596 (1 + (1- 25%) (1168.26%))
4.231
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)
= 2% + (2 * 5.96%)
13.92%

Discounted Cash Flow Calculation for SEHK:1963 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Bank of Chongqing 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.

SEHK:1963 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.7% – 13.92%) * CN¥10.83)
CN¥-0.02
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥-0.02 / (13.92% - 2%)
CN¥-0.16
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥10.83 + CN¥-0.16
CN¥10.67
SEHK:1963 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1963)
1.136
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥10.67 x 1.136
HK$12.12
Value per share (HKD) From above. HK$12.12
Current discount Discount to share price of HK$4.65
= -1 x (HK$4.65 - HK$12.12) / HK$12.12
61.6%

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

Current Discount
Amount off the current price Bank of Chongqing is available for.
Intrinsic value
>50%
Share price is HK$4.65 vs Future cash flow value of HK$12.12
Current Discount Checks
For Bank of Chongqing to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bank of Chongqing's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bank of Chongqing'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 Bank of Chongqing's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bank of Chongqing's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1963 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CNY CN¥1.14
SEHK:1963 Share Price ** SEHK (2019-07-19) in HKD HK$4.65
SEHK:1963 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥4.09
Hong Kong Banks Industry PE Ratio Median Figure of 31 Publicly-Listed Banks Companies 5.82x
Hong Kong Market PE Ratio Median Figure of 1,510 Publicly-Listed Companies 10.72x

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

** Primary Listing of Bank of Chongqing.

SEHK:1963 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1963 Share Price ÷ EPS (both in CNY)

= 4.09 ÷ 1.14

3.6x

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

  • Bank of Chongqing is good value based on earnings compared to the HK Banks industry average.
  • Bank of Chongqing is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Bank of Chongqing's expected growth come at a high price?
Raw Data
SEHK:1963 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
3.5%per year
Hong Kong Banks Industry PEG Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.77x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.79x

*Line of best fit is calculated by linear regression .

SEHK:1963 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.6x ÷ 3.5%

1.04x

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

  • Bank of Chongqing is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Bank of Chongqing's assets?
Raw Data
SEHK:1963 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CNY CN¥9.48
SEHK:1963 Share Price * SEHK (2019-07-19) in HKD HK$4.65
SEHK:1963 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥4.09
Hong Kong Banks Industry PB Ratio Median Figure of 31 Publicly-Listed Banks Companies 0.63x
Hong Kong Market PB Ratio Median Figure of 2,197 Publicly-Listed Companies 0.92x
SEHK:1963 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1963 Share Price ÷ Book Value per Share (both in CNY)

= 4.09 ÷ 9.48

0.43x

* Primary Listing of Bank of Chongqing.

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

  • Bank of Chongqing is good value based on assets compared to the HK Banks industry average.
X
Value checks
We assess Bank of Chongqing'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. Bank of Chongqing 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.

1963 Future Performance

 How is Bank of Chongqing expected to perform in the next 1 to 3 years based on estimates from 2 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
3.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bank of Chongqing expected to grow at an attractive rate?
  • Bank of Chongqing's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Bank of Chongqing's earnings growth is positive but not above the Hong Kong market average.
  • Bank of Chongqing's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1963 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1963 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 3.5%
SEHK:1963 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 14.4%
Hong Kong Banks Industry Earnings Growth Rate Market Cap Weighted Average 6.6%
Hong Kong Banks Industry Revenue Growth Rate Market Cap Weighted Average 8.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.6%

*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
SEHK:1963 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1963 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 12,887 4,000 2
2020-12-31 12,032 4,000 2
2019-12-31 11,190 4,000 2
SEHK:1963 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-03-31 7,377 -40,341 3,558
2018-12-31 7,190 -51,853 3,460
2018-09-30 7,186 -40,730 3,760
2018-06-30 7,032 -20,761 3,749
2018-03-31 6,789 -21,346 3,745
2017-12-31 6,991 -16,045 3,726
2017-09-30 7,229 -17,703 3,839
2017-06-30 7,260 -29,461 3,722
2017-03-31 7,327 -49,974 3,608
2016-12-31 7,191 -50,512 3,502
2016-09-30 7,355 -39,340 3,456
2016-06-30 7,557 -50,459 3,362

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bank of Chongqing's earnings are expected to grow by 3.5% yearly, however this is not considered high growth (20% yearly).
  • Bank of Chongqing's revenue is expected to grow by 14.4% yearly, however this is not considered high growth (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
SEHK:1963 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Bank of Chongqing Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1963 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.02 1.02 1.02 1.00
2020-12-31 0.96 0.96 0.96 1.00
2019-12-31 1.02 1.02 1.02 1.00
SEHK:1963 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-03-31 1.14
2018-12-31 1.11
2018-09-30 1.21
2018-06-30 1.20
2018-03-31 1.20
2017-12-31 1.19
2017-09-30 1.22
2017-06-30 1.19
2017-03-31 1.15
2016-12-31 1.12
2016-09-30 1.14
2016-06-30 1.15

*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.
  • Bank of Chongqing is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bank of Chongqing'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 Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong 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.
Bank of Chongqing has a total score of 2/6, 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.

1963 Past Performance

  How has Bank of Chongqing 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 Bank of Chongqing'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.
  • Bank of Chongqing's year on year earnings growth rate has been positive over the past 5 years.
  • Bank of Chongqing's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Bank of Chongqing's 1-year earnings growth is negative, it can't be compared to the HK Banks industry average.
Earnings and Revenue History
Bank of Chongqing'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 Bank of Chongqing Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1963 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 7,377.39 3,557.87 2,348.76
2018-12-31 7,190.49 3,459.69 2,348.76
2018-09-30 7,185.77 3,760.29 2,124.03
2018-06-30 7,032.44 3,748.85 2,111.35
2018-03-31 6,788.69 3,744.68 2,124.03
2017-12-31 6,991.33 3,725.88 2,124.03
2017-09-30 7,229.43 3,838.67 2,208.28
2017-06-30 7,260.39 3,721.59 2,372.39
2017-03-31 7,327.31 3,607.52 2,208.28
2016-12-31 7,190.55 3,502.17 2,208.28
2016-09-30 7,355.27 3,455.63 2,511.03
2016-06-30 7,557.44 3,362.13 2,414.93
2016-03-31 7,578.06 3,262.76 2,511.03
2015-12-31 7,457.28 3,170.06 2,511.03
2015-09-30 7,332.98 3,078.34 2,195.60
2015-06-30 6,953.99 2,998.40 2,266.04
2015-03-31 6,795.88 2,934.39 2,265.71
2014-12-31 6,593.54 2,827.14 2,195.60
2014-09-30 6,282.47 2,882.63 535.98
2014-06-30 5,859.95 2,585.19 1,992.49
2014-03-31 5,497.89 2,413.47 1,467.12
2013-12-31 5,338.78 2,329.27 1,862.28
2013-09-30 5,191.14 2,276.85 1,788.57
2013-06-30 5,043.50 2,224.44 1,714.86
2013-03-31 4,730.59 2,074.62 1,635.85
2012-12-31 4,417.67 1,924.81 1,556.83

*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.
  • Bank of Chongqing has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bank of Chongqing used its assets less efficiently than the HK Banks industry average last year based on Return on Assets.
  • Unable to establish if Bank of Chongqing 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 Bank of Chongqing'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.
Bank of Chongqing 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.

1963 Health

 How is Bank of Chongqing'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 Bank of Chongqing'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 Bank of Chongqing Company Filings, last reported 3 months ago.

SEHK:1963 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 36,129.15 148,565.44 80,909.19
2018-12-31 34,611.57 125,242.85 125,943.41
2018-09-30 34,051.26 147,962.20 78,217.06
2018-06-30 32,820.67 117,063.03 127,013.78
2018-03-31 32,247.54 139,880.52 91,077.86
2017-12-31 32,459.91 102,617.75 47,177.50
2017-09-30 27,379.71 136,988.35 40,167.19
2017-06-30 26,284.45 94,321.23 69,153.64
2017-03-31 26,256.70 134,888.51 35,663.31
2016-12-31 23,811.91 74,699.56 66,814.76
2016-09-30 23,619.45 100,664.80 27,451.27
2016-06-30 22,501.76 61,199.94 55,413.48
2016-03-31 22,378.64 93,286.05 35,805.75
2015-12-31 21,293.00 50,892.69 57,580.74
2015-09-30 18,083.46 74,296.70 18,398.24
2015-06-30 17,189.04 37,258.13 58,644.90
2015-03-31 16,852.08 82,680.87 33,241.61
2014-12-31 15,903.02 45,068.26 65,956.52
2014-09-30
2014-06-30 14,618.11 14,935.31 45,759.27
2014-03-31
2013-12-31 13,479.27 15,840.15 41,270.62
2013-09-30 13,479.27 15,840.15 41,270.62
2013-06-30 9,529.29 19,784.81 34,182.42
2013-03-31 9,529.29 19,784.81 34,182.42
2012-12-31 8,258.35 15,875.99 25,509.85
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.
  • Bank of Chongqing has an acceptable proportion of non-loan assets held.
  • Bank of Chongqing's liabilities are made up of primarily low risk sources of funding.
  • Loans at Bank of Chongqing are broadly funded by customer deposits.
  • Bank of Chongqing's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Bank of Chongqing has a sufficient allowance for bad loans.
  • Bank of Chongqing has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Bank of Chongqing'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. Bank of Chongqing 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.

1963 Dividends

 What is Bank of Chongqing'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
3.76%
Current annual income from Bank of Chongqing dividends. Estimated to be 5.82% next year.
If you bought HK$2,000 of Bank of Chongqing shares you are expected to receive HK$75 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?
  • Bank of Chongqing's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.09%).
  • Bank of Chongqing's dividend is below the markets top 25% of dividend payers in Hong Kong (5.74%).
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
SEHK:1963 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 2 Analyst Estimates (S&P Global) See Below
Hong Kong Banks Industry Average Dividend Yield Market Cap Weighted Average of 29 Stocks 5.4%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 978 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

SEHK:1963 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.25 2.00
2020-12-31 0.24 2.00
2019-12-31 0.23 2.00
SEHK:1963 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-30 0.154 3.719
2019-03-26 0.154 3.528
2018-04-09 0.118 2.777
2017-04-10 0.291 5.350
2016-06-21 0.264 4.731
2015-04-27 0.272 5.231
2015-03-20 0.272 4.787
2014-06-16 0.224 5.030

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

  • Bank of Chongqing has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Bank of Chongqing has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Bank of Chongqing's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.8x coverage).
X
Income/ dividend checks
We assess Bank of Chongqing's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Bank of Chongqing afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bank of Chongqing has a total score of 3/6, see the detailed checks below.


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

1963 Management

 What is the CEO of Bank of Chongqing'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
Hailing Ran
COMPENSATION CN¥436,000
AGE 56
CEO Bio

Mr. Hailing Ran has been the President of Bank of Chongqing Co., Ltd. since April 09, 2013. Mr. Ran has been an Executive Director of Bank of Chongqing Co., Ltd. since March 2003. He served as the Acting Chairman at Bank of Chongqing Co., Ltd. since June 28, 2017. Mr. Ran joined Bank of Chongqing Co., Ltd. in March 2003 and served as its Vice President since May 2003. He served as an Assistant to the President of Southwest Securities Company Limited from December 2002 to March 2003, Vice General Manager and Party Secretary of Fuling office, General Manager of Fuling Securities Business Department of Sichuan Trust and Investment Corporation from March 1993 to December 2002, the Deputy Director and party committee member of Chongqing Fuling Canned Food Plant from March 1992 to March 1993 and the secretary to the general office and Section Chief of Chongqing Fuling District Administrative Office from February 1990 to March 1992. Mr. Ran obtained a diploma in the special basic courses for party and government cadres from Sichuan Radio and TV University in December 1989, a completion certificate of postgraduate class for advanced studies in civil and commercial laws from Southwest University of Political Science and Law in October 2000 and an executive master of business administration degree from Chongqing University in June 2007. Mr. Ran is an economist.

CEO Compensation
  • Hailing's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Hailing's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team Tenure

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

2.8
Average Tenure
54.5
Average Age
  • The tenure for the Bank of Chongqing management team is about average.
Management Team

Jun Lin

TITLE
Chairman of the Board
COMPENSATION
CN¥356K
AGE
55
TENURE
1.3 yrs

Hailing Ran

TITLE
President & Executive Director
COMPENSATION
CN¥436K
AGE
56

Jianhua Liu

TITLE
VP, Chief Anti-Money Laundering & Executive Director
COMPENSATION
CN¥367K
AGE
54
TENURE
3.2 yrs

Wah Sing Wong

TITLE
Chief Risk Officer
COMPENSATION
CN¥268K
AGE
58
TENURE
2.8 yrs

Li Cong

TITLE
Head of Finance Department

Wendy Ho

TITLE
Joint Company Secretary
AGE
49
TENURE
5.8 yrs

Yanxi Peng

TITLE
VP & Secretary to the Board
AGE
43
TENURE
0.9 yrs
Board of Directors Tenure

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

5.3
Average Tenure
56
Average Age
  • The tenure for the Bank of Chongqing board of directors is about average.
Board of Directors

Hailing Ran

TITLE
President & Executive Director
COMPENSATION
CN¥436K
AGE
56
TENURE
8.4 yrs

Derek Wong

TITLE
Vice Chairman of the Board
COMPENSATION
CN¥112K
AGE
67
TENURE
12 yrs

Jun Lin

TITLE
Chairman of the Board
COMPENSATION
CN¥356K
AGE
55
TENURE
1.3 yrs

Jianhua Liu

TITLE
VP, Chief Anti-Money Laundering & Executive Director
COMPENSATION
CN¥367K
AGE
54
TENURE
2.9 yrs

Wah Sing Wong

TITLE
Chief Risk Officer
COMPENSATION
CN¥268K
AGE
58
TENURE
3.2 yrs

He Li

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥196K
AGE
66
TENURE
5.8 yrs

Pengguo Wang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥190K
AGE
48
TENURE
5.3 yrs

Jingyu Jin

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥183K
AGE
53
TENURE
5.3 yrs

Xiaotao Yang

TITLE
Chairperson of Board of Supervisors
AGE
56
TENURE
4.3 yrs

Yong Deng

TITLE
Non-Executive Director
COMPENSATION
CN¥95K
AGE
59
TENURE
6.4 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 (HK$) Value (HK$)
X
Management checks
We assess Bank of Chongqing'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. Bank of Chongqing 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.

1963 News

Simply Wall St News

What Kind Of Shareholders Own Bank of Chongqing Co., Ltd. (HKG:1963)?

Insider Ownership Of Bank of Chongqing While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. … Private Company Ownership Our data indicates that Private Companies hold 27%, of the company's shares. … Public Company Ownership We can see that public companies hold 30%, of the 1963 shares on issue.

Simply Wall St -

Should You Worry About Bank of Chongqing Co., Ltd.'s (HKG:1963) CEO Pay?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Check out our latest analysis for Bank of Chongqing How Does Hailing Ran's Compensation Compare With Similar Sized Companies? … Given the total loss of 5.3% over three years, many shareholders in Bank of Chongqing Co., Ltd.

Simply Wall St -

At HK$5.07, Is Bank of Chongqing Co., Ltd. (HKG:1963) Worth Looking At Closely?

saw significant share price movement during recent months on the SEHK, rising to highs of HK$5.41 and falling to the lows of HK$4.64. … A question to answer is whether Bank of Chongqing's current trading price of HK$5.07 reflective of the actual value of the? … Let’s take a look at Bank of Chongqing’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

How Does Bank of Chongqing Co., Ltd. (HKG:1963) Fare As A Dividend Stock?

(HKG:1963) be an attractive dividend share to own for the long haul? … With a goodly-sized dividend yield despite a relatively short payment history, investors might be wondering if Bank of Chongqing is a new dividend aristocrat in the making. … Some simple analysis can offer a lot of insight when buying a company for its dividend, and we'll go through these below.

Simply Wall St -

Some Bank of Chongqing (HKG:1963) Shareholders Are Down 18%

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During the three years that the share price fell, Bank of Chongqing's earnings per share (EPS) dropped by 1.8% each year. … The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers)

Simply Wall St -

Do Directors Own Bank of Chongqing Co., Ltd. (HKG:1963) Shares?

A look at the shareholders of Bank of Chongqing Co., Ltd. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned.

Simply Wall St -

Three Understated Metrics For Bank of Chongqing Co., Ltd. (HKG:1963) You Should Know

Bank of Chongqing Co., Ltd.’s (HKG:1963) profitability and risk are largely affected by the underlying economic growth for the region it operates in HK given it is a small-cap stock with a market capitalisation of HK$16b. … Since a bank profits from reinvesting its clients’ deposits in the form of loans, negative economic growth may lower deposit levels and demand for loan, adversely impacting its cash flow. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels.

Simply Wall St -

One Thing To Remember About The Bank of Chongqing Co., Ltd. (HKG:1963) Share Price

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Three Key Risks For Bank of Chongqing Co., Ltd. (HKG:1963) You Should Know

(HKG:1963) is a small-cap bank with a market capitalisation of HK$15b. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Bank of Chongqing’s bottom line. … Today we will analyse Bank of Chongqing’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

Should Bank of Chongqing Co., Ltd. (HKG:1963) Be Part Of Your Dividend Portfolio?

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Historically, Bank of Chongqing Co., Ltd. … Let's take a look at Bank of Chongqing in more detail.

Simply Wall St -

1963 Company Info

Description

Bank of Chongqing Co., Ltd. provides various banking and related financial services in the People’s Republic of China. It operates through three segments: Corporate Banking, Retail Banking, and Treasury. It offers various deposit products and loans; inter-bank lending and borrowing, bonds investment, re-purchasing, and foreign currency transactions; and telephone, mobile, and online and direct banking services. As of December 31, 2018, the company operated 142 sub-units, including a business department, a small enterprise loan center, 4 primary branches, and 58 offsite self-service banking centers covering 38 districts and counties of Chongqing, as well as 3 provinces in western China. It also operated 58 offsite self-service banking centers, 136 onsite self-service banking centers, and 547 self-service terminals, including 171 ATMs and 376 self-service deposit and withdrawal machines that offers withdrawal, account inquiry, bill payment, passcode changing, and fund transfer services. Bank of Chongqing Co., Ltd. primarily serves corporate and individual customers. The company was formerly known as Commercial Bank of Chongqing Co., Ltd. and changed its name to Bank of Chongqing Co., Ltd. in August 2007. Bank of Chongqing Co., Ltd. was founded in 1996 and is headquartered in Chongqing, the People’s Republic of China.

Details
Name: Bank of Chongqing Co., Ltd.
1963
Exchange: SEHK
Founded: 1996
HK$14,446,993,199
3,127,054,805
Website: http://www.cqcbank.com
Address: Bank of Chongqing Co., Ltd.
No. 6 Yongpingmen Street,
Jiangbei District,
Chongqing,
400024,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1963 Foreign Shares Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 06. Nov 2013
DB CQN Foreign Shares Foreign Listed Deutsche Boerse AG DE EUR 06. Nov 2013
SHSC 1963 Foreign Shares Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 06. Nov 2013
SZSC 1963 Foreign Shares Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 06. Nov 2013
Number of employees
Current staff
Staff numbers
4,119
Bank of Chongqing employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 13:05
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/12
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
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.