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998

China CITIC Bank SEHK:998 Stock Report

Last Price

HK$3.27

Market Cap

HK$220.7b

7D

-1.2%

1Y

-7.6%

Updated

18 Aug, 2022

Data

Company Financials +
998 fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance4/6
Financial Health6/6
Dividends5/6

998 Stock Overview

China CITIC Bank Corporation Limited provides various banking products and services in the People’s Republic of China and internationally.

China CITIC Bank Competitors

Price History & Performance

Summary of all time highs, changes and price drops for China CITIC Bank
Historical stock prices
Current Share PriceHK$3.27
52 Week HighHK$4.08
52 Week LowHK$3.20
Beta0.54
1 Month Change-0.91%
3 Month Change-11.86%
1 Year Change-7.63%
3 Year Change-18.86%
5 Year Change-34.34%
Change since IPO-51.05%

Recent News & Updates

Shareholder Returns

998HK BanksHK Market
7D-1.2%0.4%1.5%
1Y-7.6%-7.4%-20.8%

Return vs Industry: 998 matched the Hong Kong Banks industry which returned -7.4% over the past year.

Return vs Market: 998 exceeded the Hong Kong Market which returned -20.8% over the past year.

Price Volatility

Is 998's price volatile compared to industry and market?
998 volatility
998 Average Weekly Movement3.0%
Banks Industry Average Movement3.2%
Market Average Movement6.5%
10% most volatile stocks in HK Market12.8%
10% least volatile stocks in HK Market3.2%

Stable Share Price: 998 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 998's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198758,329Heying Fanghttps://www.citicbank.com

China CITIC Bank Corporation Limited provides various banking products and services in the People’s Republic of China and internationally. The company operates through Corporate Banking, Personal Banking, and Treasury Operations segments. It accepts deposits; offers corporate and personal loans; and provides securities agency, remittance and settlement, and guarantee services, as well as investment banking and international services.

China CITIC Bank Fundamentals Summary

How do China CITIC Bank's earnings and revenue compare to its market cap?
998 fundamental statistics
Market CapHK$220.74b
Earnings (TTM)HK$62.85b
Revenue (TTM)HK$151.46b

2.5x

P/E Ratio

0.2x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
998 income statement (TTM)
RevenueCN¥130.95b
Cost of RevenueCN¥1.18b
Gross ProfitCN¥129.77b
Other ExpensesCN¥75.43b
EarningsCN¥54.34b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 25, 2022

Earnings per share (EPS)1.11
Gross Margin99.10%
Net Profit Margin41.50%
Debt/Equity Ratio211.0%

How did 998 perform over the long term?

See historical performance and comparison

Dividends

10.7%

Current Dividend Yield

27%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 998 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 998?

Other financial metrics that can be useful for relative valuation.

998 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.2x

Price to Earnings Ratio vs Peers

How does 998's PE Ratio compare to its peers?

998 PE Ratio vs Peers
The above table shows the PE ratio for 998 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average11.8x
11 Hang Seng Bank
26x30.5%HK$246.2b
2388 BOC Hong Kong (Holdings)
12.5x14.4%HK$292.3b
3328 Bank of Communications
3.5x8.1%HK$369.9b
1658 Postal Savings Bank of China
5.2x13.4%HK$478.6b
998 China CITIC Bank
2.5x10.5%HK$220.7b

Price-To-Earnings vs Peers: 998 is good value based on its Price-To-Earnings Ratio (2.5x) compared to the peer average (11.8x).


Price to Earnings Ratio vs Industry

How does 998's PE Ratio compare vs other companies in the HK Banks Industry?

Price-To-Earnings vs Industry: 998 is good value based on its Price-To-Earnings Ratio (2.5x) compared to the Hong Kong Banks industry average (5.3x)


Price to Earnings Ratio vs Fair Ratio

What is 998's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

998 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.5x
Fair PE Ratio5.7x

Price-To-Earnings vs Fair Ratio: 998 is good value based on its Price-To-Earnings Ratio (2.5x) compared to the estimated Fair Price-To-Earnings Ratio (5.7x).


Share Price vs Fair Value

What is the Fair Price of 998 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 998 (HK$3.27) is trading below our estimate of fair value (HK$23.67)

Significantly Below Fair Value: 998 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is China CITIC Bank forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


10.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 998's forecast earnings growth (10.5% per year) is above the savings rate (1.6%).

Earnings vs Market: 998's earnings (10.5% per year) are forecast to grow slower than the Hong Kong market (16.8% per year).

High Growth Earnings: 998's earnings are forecast to grow, but not significantly.

Revenue vs Market: 998's revenue (9.3% per year) is forecast to grow slower than the Hong Kong market (10% per year).

High Growth Revenue: 998's revenue (9.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 998's Return on Equity is forecast to be low in 3 years time (11.4%).


Discover growth companies

Past Performance

How has China CITIC Bank performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


4.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 998 has a high level of non-cash earnings.

Growing Profit Margin: 998's current net profit margins (41.5%) are higher than last year (41%).


Past Earnings Growth Analysis

Earnings Trend: 998's earnings have grown by 4.6% per year over the past 5 years.

Accelerating Growth: 998's earnings growth over the past year (15.2%) exceeds its 5-year average (4.6% per year).

Earnings vs Industry: 998 earnings growth over the past year (15.2%) exceeded the Banks industry 11.2%.


Return on Equity

High ROE: 998's Return on Equity (8.8%) is considered low.


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Financial Health

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

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: 998's Assets to Equity ratio (12.5x) is moderate.

Allowance for Bad Loans: 998 has a sufficient allowance for bad loans (162%).

Low Risk Liabilities: 80% of 998's liabilities are made up of primarily low risk sources of funding.

Loan Level: 998 has an appropriate level of Loans to Assets ratio (59%).

Low Risk Deposits: 998's Loans to Deposits ratio (79%) is appropriate.

Level of Bad Loans: 998 has an appropriate level of bad loans (1.4%).


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Dividend

What is China CITIC Bank current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


10.68%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 998's dividend (10.68%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.84%).

High Dividend: 998's dividend (10.68%) is in the top 25% of dividend payers in the Hong Kong market (8.27%)


Stability and Growth of Payments

Stable Dividend: 998's dividend payments have been volatile in the past 10 years.

Growing Dividend: 998's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (27.3%), 998's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 998's dividends in 3 years are forecast to be well covered by earnings (27.2% payout ratio).


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.9yrs

Average management tenure


CEO

Heying Fang (56 yo)

3.42yrs

Tenure

Mr. Heying Fang serves as Executive Director at China CITIC Bank Corporation Ltd. He was the Chief Financial Officer at China CITIC Bank Corporation Ltd. until January 10, 2022.Mr. Fang serves as Presiden...


CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Heying's total compensation is reasonable compared to companies of similar size in the Hong Kong market.

Compensation vs Earnings: Heying's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: 998's management team is considered experienced (2.9 years average tenure).


Board Members

Experienced Board: 998's board of directors are considered experienced (3.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: 998 insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

China CITIC Bank Corporation Limited's employee growth, exchange listings and data sources


Key Information

  • Name: China CITIC Bank Corporation Limited
  • Ticker: 998
  • Exchange: SEHK
  • Founded: 1987
  • Industry: Diversified Banks
  • Sector: Banks
  • Implied Market Cap: HK$220.744b
  • Shares outstanding: 48.93b
  • Website: https://www.citicbank.com

Number of Employees


Location

  • China CITIC Bank Corporation Limited
  • Building No. 1
  • 6-30 Floor and 32-42 Floor
  • Beijing
  • 100020
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/18 00:00
End of Day Share Price2022/08/18 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.