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1788

Guotai Junan International Holdings SEHK:1788 Stock Report

Last Price

HK$0.56

Market Cap

HK$5.5b

7D

-13.8%

1Y

-54.1%

Updated

03 Oct, 2022

Data

Company Financials +
1788 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth5/6
Past Performance1/6
Financial Health3/6
Dividends5/6

1788 Stock Overview

Guotai Junan International Holdings Limited, an investment holding company, provides brokerage, corporate finance, asset management, loans and financing, financial products, and market making and investment services in Hong Kong and internationally.

Guotai Junan International Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Guotai Junan International Holdings
Historical stock prices
Current Share PriceHK$0.56
52 Week HighHK$1.26
52 Week LowHK$0.56
Beta0.80
1 Month Change-28.21%
3 Month Change-38.46%
1 Year Change-54.10%
3 Year Change-57.25%
5 Year Change-78.46%
Change since IPO-59.42%

Recent News & Updates

Sep 01
Analysts Have Just Cut Their Guotai Junan International Holdings Limited (HKG:1788) Revenue Estimates By 31%

Analysts Have Just Cut Their Guotai Junan International Holdings Limited (HKG:1788) Revenue Estimates By 31%

Today is shaping up negative for Guotai Junan International Holdings Limited ( HKG:1788 ) shareholders, with the...

Shareholder Returns

1788HK Capital MarketsHK Market
7D-13.8%-5.8%-4.4%
1Y-54.1%-38.5%-28.8%

Return vs Industry: 1788 underperformed the Hong Kong Capital Markets industry which returned -38.5% over the past year.

Return vs Market: 1788 underperformed the Hong Kong Market which returned -28.8% over the past year.

Price Volatility

Is 1788's price volatile compared to industry and market?
1788 volatility
1788 Average Weekly Movement5.4%
Capital Markets Industry Average Movement7.1%
Market Average Movement6.5%
10% most volatile stocks in HK Market12.7%
10% least volatile stocks in HK Market3.1%

Stable Share Price: 1788 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 1788's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1995655Haiying Qihttps://www.gtjai.com

Guotai Junan International Holdings Limited, an investment holding company, provides brokerage, corporate finance, asset management, loans and financing, financial products, and market making and investment services in Hong Kong and internationally. The company’s Wealth Management segment provides a range financial services and solutions to individual investors and small to medium-sized businesses and family office, including brokerage, loans and financing, and other wealth management services. Its Institutional Investor Services segment offers market making, investments, structured product solutions, lending, and other services to corporations, governments, and financial institutions.

Guotai Junan International Holdings Fundamentals Summary

How do Guotai Junan International Holdings's earnings and revenue compare to its market cap?
1788 fundamental statistics
Market CapHK$5.54b
Earnings (TTM)HK$318.39m
Revenue (TTM)HK$2.01b

16.8x

P/E Ratio

2.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
1788 income statement (TTM)
RevenueHK$2.01b
Cost of RevenueHK$156.51m
Gross ProfitHK$1.85b
Other ExpensesHK$1.53b
EarningsHK$318.39m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.033
Gross Margin92.20%
Net Profit Margin15.88%
Debt/Equity Ratio423.4%

How did 1788 perform over the long term?

See historical performance and comparison

Dividends

10.7%

Current Dividend Yield

60%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 1788 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 1788?

Other financial metrics that can be useful for relative valuation.

1788 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 Ratio0.7x

Price to Earnings Ratio vs Peers

How does 1788's PE Ratio compare to its peers?

1788 PE Ratio vs Peers
The above table shows the PE ratio for 1788 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average9.5x
1911 China Renaissance Holdings
13.6x38.9%HK$3.8b
1469 Get Nice Financial Group
3.9xn/aHK$1.7b
1428 Bright Smart Securities & Commodities Group
3.2xn/aHK$1.8b
3678 Holly Futures
16.8xn/aHK$10.6b
1788 Guotai Junan International Holdings
16.8x25.8%HK$5.5b

Price-To-Earnings vs Peers: 1788 is expensive based on its Price-To-Earnings Ratio (16.8x) compared to the peer average (9.5x).


Price to Earnings Ratio vs Industry

How does 1788's PE Ratio compare vs other companies in the HK Capital Markets Industry?

Price-To-Earnings vs Industry: 1788 is expensive based on its Price-To-Earnings Ratio (16.8x) compared to the Hong Kong Capital Markets industry average (9x)


Price to Earnings Ratio vs Fair Ratio

What is 1788'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.

1788 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.8x
Fair PE Ratio7x

Price-To-Earnings vs Fair Ratio: 1788 is expensive based on its Price-To-Earnings Ratio (16.8x) compared to the estimated Fair Price-To-Earnings Ratio (7x).


Share Price vs Fair Value

What is the Fair Price of 1788 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1788 (HK$0.56) is trading below our estimate of fair value (HK$0.79)

Significantly Below Fair Value: 1788 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 Guotai Junan International Holdings forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


25.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1788's forecast earnings growth (25.8% per year) is above the savings rate (1.6%).

Earnings vs Market: 1788's earnings (25.8% per year) are forecast to grow faster than the Hong Kong market (16.8% per year).

High Growth Earnings: 1788's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 1788's revenue (20.4% per year) is forecast to grow faster than the Hong Kong market (9.7% per year).

High Growth Revenue: 1788's revenue (20.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1788's Return on Equity is forecast to be low in 3 years time (4.5%).


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Past Performance

How has Guotai Junan International Holdings performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


1.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1788 has a large one-off gain of HK$78.1M impacting its June 30 2022 financial results.

Growing Profit Margin: 1788's current net profit margins (15.9%) are lower than last year (42.4%).


Past Earnings Growth Analysis

Earnings Trend: 1788's earnings have grown by 1.1% per year over the past 5 years.

Accelerating Growth: 1788's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1788 had negative earnings growth (-83.2%) over the past year, making it difficult to compare to the Capital Markets industry average (2.7%).


Return on Equity

High ROE: 1788's Return on Equity (2.1%) is considered low.


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Financial Health

How is Guotai Junan International Holdings's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 1788's short term assets (HK$89.6B) exceed its short term liabilities (HK$80.1B).

Long Term Liabilities: 1788's short term assets (HK$89.6B) exceed its long term liabilities (HK$16.0B).


Debt to Equity History and Analysis

Debt Level: 1788 has more cash than its total debt.

Reducing Debt: 1788's debt to equity ratio has increased from 181% to 423.4% over the past 5 years.

Debt Coverage: 1788's debt is not well covered by operating cash flow (17.2%).

Interest Coverage: Insufficient data to determine if 1788's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Guotai Junan International Holdings's 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

  • Cash Flow Coverage


10.71%

Current Dividend Yield

Dividend Yield vs Market

Guotai Junan International Holdings Dividend Yield vs Market
How does Guotai Junan International Holdings dividend yield compare to the market?
SegmentDividend Yield
Company (Guotai Junan International Holdings)10.7%
Market Bottom 25% (HK)3.0%
Market Top 25% (HK)9.0%
Industry Average (Capital Markets)4.9%
Analyst forecast in 3 Years (Guotai Junan International Holdings)8.5%

Notable Dividend: 1788's dividend (10.71%) is higher than the bottom 25% of dividend payers in the Hong Kong market (3.01%).

High Dividend: 1788's dividend (10.71%) is in the top 25% of dividend payers in the Hong Kong market (8.95%)


Stability and Growth of Payments

Stable Dividend: 1788's dividend payments have been volatile in the past 10 years.

Growing Dividend: 1788's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (60.3%), 1788's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (5.1%), 1788's dividend payments are thoroughly covered by cash flows.


Discover strong dividend paying companies

Management

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

2.8yrs

Average management tenure


CEO

Haiying Qi (40 yo)

7.58yrs

Tenure

HK$9,452,000

Compensation

Ms. Haiying Qi has been Executive Director of Guotai Junan International Holdings Limited since March 05, 2015, has been its Chief Executive Officer since December 14, 2021 and had been its Deputy CEO sinc...


CEO Compensation Analysis

Haiying Qi's Compensation vs Guotai Junan International Holdings Earnings
How has Haiying Qi's remuneration changed compared to Guotai Junan International Holdings's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

HK$318m

Mar 31 2022n/an/a

HK$707m

Dec 31 2021HK$9mHK$3m

HK$1b

Sep 30 2021n/an/a

HK$1b

Jun 30 2021n/an/a

HK$2b

Mar 31 2021n/an/a

HK$2b

Dec 31 2020HK$12mHK$3m

HK$2b

Sep 30 2020n/an/a

HK$1b

Jun 30 2020n/an/a

HK$862m

Mar 31 2020n/an/a

HK$879m

Dec 31 2019HK$11mHK$3m

HK$895m

Sep 30 2019n/an/a

HK$912m

Jun 30 2019n/an/a

HK$929m

Mar 31 2019n/an/a

HK$863m

Dec 31 2018HK$10mHK$3m

HK$797m

Sep 30 2018n/an/a

HK$929m

Jun 30 2018n/an/a

HK$1b

Mar 31 2018n/an/a

HK$1b

Dec 31 2017HK$12mHK$4m

HK$1b

Sep 30 2017n/an/a

HK$1b

Jun 30 2017n/an/a

HK$1b

Mar 31 2017n/an/a

HK$1b

Dec 31 2016HK$11mHK$3m

HK$969m

Sep 30 2016n/an/a

HK$959m

Jun 30 2016n/an/a

HK$950m

Mar 31 2016n/an/a

HK$982m

Dec 31 2015HK$8mHK$3m

HK$1b

Compensation vs Market: Haiying's total compensation ($USD1.20M) is above average for companies of similar size in the Hong Kong market ($USD564.72K).

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


Leadership Team

Experienced Management: 1788's management team is considered experienced (2.8 years average tenure).


Board Members

Experienced Board: 1788's board of directors are considered experienced (5.9 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of 1788?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders77,583,1470.8%
Institutions481,670,2985.0%
General Public1,952,074,19620.4%
Public Companies7,044,877,06673.7%

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


Top Shareholders

Top 25 shareholders own 79.45% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
73.72%
Guotai Junan Securities Co., Ltd.
7,044,877,066HK$3.9b0%no data
1.51%
UBS Asset Management
143,833,800HK$80.5m0%no data
0.89%
The Vanguard Group, Inc.
84,838,253HK$47.5m2%no data
0.84%
Dimensional Fund Advisors LP
80,463,943HK$45.1m0.98%no data
0.72%
Fung Yim
68,546,955HK$38.4m0%no data
0.51%
BlackRock, Inc.
48,429,200HK$27.1m1.38%no data
0.47%
Norges Bank Investment Management
45,289,631HK$25.4m0%no data
0.22%
Zhonggeng Fund Management Co., Ltd.
20,865,000HK$11.7m0%0.04%
0.21%
E Fund Management Co., Ltd.
20,240,000HK$11.3m65.31%no data
0.085%
State Street Global Advisors, Inc.
8,123,763HK$4.5m-1.32%no data
0.066%
American Century Investment Management Inc
6,327,000HK$3.5m-5.3%no data
0.063%
Haiying Qi
6,012,000HK$3.4m0%no data
0.031%
Ofi Asset Management
3,000,000HK$1.7m0%0.01%
0.016%
Tingmei Fu
1,512,096HK$846.8k0%no data
0.016%
Yiu Keung Tsang
1,512,096HK$846.8k0%no data
0.016%
Northern Trust Global Investments
1,483,000HK$830.5k0%no data
0.014%
Credit Suisse Asset Management (Switzerland)
1,377,181HK$771.2k0%no data
0.013%
Counsel Portfolio Services Inc.
1,262,000HK$706.7k0%0.01%
0.011%
Bessemer Investment Management LLC
1,086,691HK$608.5k49.75%no data
0.01%
Legal & General Investment Management Limited
959,000HK$537.0k0%no data
0.009%
Geode Capital Management, LLC
858,000HK$480.5k-0.01%no data
0.0086%
KLP Kapitalforvaltning AS
820,000HK$459.2k0%no data
0.0039%
Mercer Global Investments Europe Limited
368,200HK$206.2k0%no data
0.0036%
Lingohr & Partner Asset Management GmbH
345,000HK$193.2k0%no data
0.0032%
HSBC Global Asset Management (UK) Limited
307,114HK$172.0k10.76%no data

Company Information

Guotai Junan International Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Guotai Junan International Holdings Limited
  • Ticker: 1788
  • Exchange: SEHK
  • Founded: 1995
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Implied Market Cap: HK$5.543b
  • Shares outstanding: 9.56b
  • Website: https://www.gtjai.com

Number of Employees


Location

  • Guotai Junan International Holdings Limited
  • Grand Millennium Plaza
  • 27th Floor, Low Block
  • Central
  • Hong Kong


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1788SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJul 2010
GUEDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2010
1788SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJul 2010

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/03 00:00
End of Day Share Price2022/10/03 00:00
Earnings2022/06/30
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.