China International Capital
Market Cap
HK$246.7b
Last Updated
2021/02/24 10:05 UTC
Data Sources
Company Financials +
Executive Summary
China International Capital Corporation Limited provides financial services in Mainland China and internationally. More Details
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with proven track record.
Similar Companies
Share Price & News
How has China International Capital's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 3908 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: 3908's weekly volatility (7%) has been stable over the past year.
Market Performance
7 Day Return
-15.1%
3908
-0.2%
HK Capital Markets
-0.4%
HK Market
1 Year Return
26.3%
3908
50.4%
HK Capital Markets
25.9%
HK Market
Return vs Industry: 3908 underperformed the Hong Kong Capital Markets industry which returned 50.4% over the past year.
Return vs Market: 3908 matched the Hong Kong Market which returned 25.9% over the past year.
Shareholder returns
| 3908 | Industry | Market | |
|---|---|---|---|
| 7 Day | -15.1% | -0.2% | -0.4% |
| 30 Day | -20.8% | -0.9% | 4.5% |
| 90 Day | 6.3% | 23.6% | 17.7% |
| 1 Year | 26.3%26.3% | 53.9%50.4% | 30.7%25.9% |
| 3 Year | 25.7%22.7% | 16.9%7.8% | 7.7%-3.6% |
| 5 Year | 90.8%83.2% | 52.6%33.6% | 74.5%44.8% |
Long-Term Price Volatility Vs. Market
How volatile is China International Capital's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Should You Take Comfort From Insider Transactions At China International Capital Corporation Limited (HKG:3908)?1 month ago | Simply Wall St
What You Need To Know About China International Capital Corporation Limited's (HKG:3908) Investor Composition2 months ago | Simply Wall St
Are You An Income Investor? Don't Miss Out On China International Capital Corporation Limited (HKG:3908)Valuation
Is China International Capital undervalued compared to its fair value and its price relative to the market?
29.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 3908 (HK$18.8) is trading below our estimate of fair value (HK$26.63)
Significantly Below Fair Value: 3908 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 3908 is good value based on its PE Ratio (11.5x) compared to the HK Capital Markets industry average (15.6x).
PE vs Market: 3908 is good value based on its PE Ratio (11.5x) compared to the Hong Kong market (12.6x).
Price to Earnings Growth Ratio
PEG Ratio: 3908 is good value based on its PEG Ratio (0.7x)
Price to Book Ratio
PB vs Industry: 3908 is overvalued based on its PB Ratio (1.2x) compared to the HK Capital Markets industry average (0.6x).
Next Steps
Future Growth
How is China International Capital forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?
17.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 3908's forecast earnings growth (17.6% per year) is above the savings rate (1.5%).
Earnings vs Market: 3908's earnings (17.6% per year) are forecast to grow slower than the Hong Kong market (21.3% per year).
High Growth Earnings: 3908's earnings are forecast to grow, but not significantly.
Revenue vs Market: 3908's revenue (16.5% per year) is forecast to grow faster than the Hong Kong market (13.8% per year).
High Growth Revenue: 3908's revenue (16.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 3908's Return on Equity is forecast to be low in 3 years time (12.4%).
Next Steps
Past Performance
How has China International Capital performed over the past 5 years?
25.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 3908 has high quality earnings.
Growing Profit Margin: 3908's current net profit margins (24.9%) are lower than last year (27.8%).
Past Earnings Growth Analysis
Earnings Trend: 3908's earnings have grown significantly by 25.8% per year over the past 5 years.
Accelerating Growth: 3908's earnings growth over the past year (53.8%) exceeds its 5-year average (25.8% per year).
Earnings vs Industry: 3908 earnings growth over the past year (53.8%) exceeded the Capital Markets industry 12.8%.
Return on Equity
High ROE: 3908's Return on Equity (10.6%) is considered low.
Next Steps
Financial Health
How is China International Capital's financial position?
Financial Position Analysis
Short Term Liabilities: 3908's short term assets (CN¥428.4B) exceed its short term liabilities (CN¥298.4B).
Long Term Liabilities: 3908's short term assets (CN¥428.4B) exceed its long term liabilities (CN¥130.2B).
Debt to Equity History and Analysis
Debt Level: 3908's debt to equity ratio (397.5%) is considered high.
Reducing Debt: 3908's debt to equity ratio has increased from 158.9% to 397.5% over the past 5 years.
Debt Coverage: 3908's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: Insufficient data to determine if 3908's interest payments on its debt are well covered by EBIT.
Balance Sheet
Next Steps
Dividend
What is China International Capital current dividend yield, its reliability and sustainability?
1.12%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 3908's dividend (1.12%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (1.95%).
High Dividend: 3908's dividend (1.12%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.22%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, 3908 has been paying a dividend for less than 10 years.
Growing Dividend: 3908's dividend payments have increased, but the company has only paid a dividend for 4 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (12.8%), 3908's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 3908's dividends in 3 years are forecast to be well covered by earnings (22.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.3yrs
Average management tenure
CEO
Zhaohui Huang (56 yo)
1.17yrs
Tenure
Mr. Zhaohui Huang serves as Chairman at CICC Capital Management Co., Ltd. He serves as Chief Executive Officer of China International Capital Corporation Ltd. since December 30, 2019 and Executive Director...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 1.17yrs | no data | 0.15% CN¥ 357.9m | |
| Chief Financial Officer | 4yrs | no data | no data | |
| Chief Operating Officer | 5.83yrs | no data | no data | |
| Chief Compliance Officer | 4.5yrs | no data | no data | |
| Head of Wealth Management Department | 5.75yrs | no data | no data | |
| Head of the Equities Department | 7.75yrs | no data | no data | |
| Chief Risk Officer & Head of the Risk Management Department | 3.67yrs | no data | no data | |
| Head of Asset Management Segment & Assistant President | 0.75yr | no data | no data | |
| MD & Head of the Investment Banking Department | 3.08yrs | no data | no data | |
| Managing Director of New York Office | 1.67yrs | no data | no data | |
| Managing Director | 11.17yrs | no data | no data | |
| Joint Company Secretary | 5.67yrs | no data | no data |
4.3yrs
Average Tenure
51yo
Average Age
Experienced Management: 3908's management team is considered experienced (4.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 1.17yrs | no data | 0.15% CN¥ 357.9m | |
| Non-Employee Representative Supervisor | 5.75yrs | no data | no data | |
| Independent Non-Executive Director | 1yr | no data | no data | |
| Independent Non-Executive Director | 5.75yrs | CN¥577.27k | 0.0021% CN¥ 5.1m | |
| Independent Non-Executive Director | 4.67yrs | CN¥532.40k | no data | |
| Independent Non-Executive Director | 5.75yrs | CN¥517.60k | no data | |
| Non-Executive Director | 1yr | no data | no data | |
| Chairman of the Supervisory Committee | 3.67yrs | no data | no data | |
| Non-Executive Director | 1yr | no data | no data | |
| Non-Executive Chairman of the Board | 1.5yrs | no data | no data | |
| Non-Employee Representative Supervisor | 1yr | no data | no data |
1.5yrs
Average Tenure
56yo
Average Age
Experienced Board: 3908's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.
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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10.5%.
Top Shareholders
Company Information
China International Capital Corporation Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: China International Capital Corporation Limited
- Ticker: 3908
- Exchange: SEHK
- Founded: 1995
- Industry: Investment Banking and Brokerage
- Sector: Diversified Financials
- Market Cap: HK$246.702b
- Shares outstanding: 4.83b
- Website: https://www.cicc.com
Number of Employees
Location
- China International Capital Corporation Limited
- China World Office 2
- 27th and 28th Floor
- Beijing
- 100004
- China
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 3908 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Nov 2015 |
| CIM | DB (Deutsche Boerse AG) | Yes | Foreign Shares-Foreign Listed | DE | EUR | Nov 2015 |
| 3908 | SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Nov 2015 |
| 3908 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Nov 2015 |
| CNIC.F | OTCPK (Pink Sheets LLC) | Yes | Foreign Shares-Foreign Listed | US | USD | Nov 2015 |
| 601995 | SHSE (Shanghai Stock Exchange) | Domestic Shares | CN | CNY | Nov 2020 |
Biography
China International Capital Corporation Limited provides financial services in Mainland China and internationally. The company operates in five segments: Investment Banking; Equities; Fixed Income, Commodi...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/02/24 10:05 |
| End of Day Share Price | 2021/02/24 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.