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Chong Hing Bank

OTCPK:CGHB.F
Snowflake Description

Flawless balance sheet established dividend payer.

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

Chong Hing Bank Limited provides banking and related financial services. The last earnings update was 56 days ago. More info.


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CGHB.F Share Price and Events
7 Day Returns
0%
OTCPK:CGHB.F
-3.2%
US Banks
-0.7%
US Market
1 Year Returns
-
OTCPK:CGHB.F
-10.8%
US Banks
3%
US Market
CGHB.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chong Hing Bank (CGHB.F) 0% 0% - - - -
US Banks -3.2% -3.4% -2.3% -10.8% 41.5% 46.8%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • No trading data on CGHB.F.
  • No trading data on CGHB.F.
Price Volatility
CGHB.F
Industry
5yr Volatility vs Market

Value

 Is Chong Hing Bank 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 Chong Hing Bank 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 Chong Hing Bank.

OTCPK:CGHB.F 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$24.39 * 8.7%
HK$2.13
Book Value of Equity per Share Median Book Value from the past 5 years. HK$24.39
Discount Rate (Cost of Equity) See below 9.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 OTCPK:CGHB.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.62
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.62 (1 + (1- 25%) (98.92%))
1.054
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.054 * 6.65%)
9.74%

Discounted Cash Flow Calculation for OTCPK:CGHB.F using Excess Returns Model Model

The calculations below outline how an intrinsic value for Chong Hing Bank 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.

OTCPK:CGHB.F Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.7% – 9.74%) * HK$24.39)
HK$-0.24
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= HK$-0.24 / (9.74% - 2.73%)
HK$-3.49
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= HK$24.39 + HK$-3.49
HK$20.89
OTCPK:CGHB.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:CGHB.F represents 0.12676x of SEHK:1111
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.12676x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 20.89 x 0.12676
$2.65
Value per share (USD) From above. $2.65
Current discount Discount to share price of $1.80
= -1 x ($1.80 - $2.65) / $2.65
32%

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

Current Discount
Amount off the current price Chong Hing Bank is available for.
Intrinsic value
32%
Share price is $1.8 vs Future cash flow value of $2.65
Current Discount Checks
For Chong Hing Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Chong Hing Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Chong Hing Bank's share price is below the future cash flow value, but not 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 Chong Hing Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chong Hing Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:CGHB.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$2.14
SEHK:1111 Share Price ** SEHK (2019-03-14) in HKD HK$14.2
United States of America Banks Industry PE Ratio Median Figure of 593 Publicly-Listed Banks Companies 12.77x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

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

** Primary Listing of Chong Hing Bank.

OTCPK:CGHB.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1111 Share Price ÷ EPS (both in HKD)

= 14.2 ÷ 2.14

6.64x

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

  • Chong Hing Bank is good value based on earnings compared to the US Banks industry average.
  • Chong Hing Bank is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Chong Hing Bank's expected growth come at a high price?
Raw Data
OTCPK:CGHB.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.64x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
9.8%per year
United States of America Banks Industry PEG Ratio Median Figure of 269 Publicly-Listed Banks Companies 1.39x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*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 Chong Hing Bank, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Chong Hing Bank's assets?
Raw Data
OTCPK:CGHB.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$23.18
SEHK:1111 Share Price * SEHK (2019-03-14) in HKD HK$14.2
United States of America Banks Industry PB Ratio Median Figure of 598 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
OTCPK:CGHB.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1111 Share Price ÷ Book Value per Share (both in HKD)

= 14.2 ÷ 23.18

0.61x

* Primary Listing of Chong Hing Bank.

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

  • Chong Hing Bank is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Chong Hing Bank'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. Chong Hing Bank has a total score of 4/6, 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 Chong Hing Bank expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Chong Hing Bank, 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
9.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chong Hing Bank expected to grow at an attractive rate?
  • Chong Hing Bank's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Chong Hing Bank's earnings growth is positive but not above the United States of America market average.
  • Unable to compare Chong Hing Bank's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:CGHB.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:CGHB.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 9.8%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.9%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
OTCPK:CGHB.F 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.
OTCPK:CGHB.F Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 3,508 -21,778 1,608
2018-09-30 3,527 -20,441 1,681
2018-06-30 3,547 -19,104 1,755
2018-03-31 3,271 -17,086 1,584
2017-12-31 2,995 -15,068 1,413
2017-09-30 2,903 -13,835 1,301
2017-06-30 2,812 -12,602 1,188
2017-03-31 2,850 -3,511 1,228
2016-12-31 2,889 5,579 1,268
2016-09-30 2,643 7,989 1,088
2016-06-30 2,398 10,399 908
2016-03-31 2,396 -527 975

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Chong Hing Bank's earnings are expected to grow by 9.8% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Chong Hing Bank 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
OTCPK:CGHB.F 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 Chong Hing Bank Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CGHB.F Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 2.14
2018-09-30 1.73
2018-06-30 2.69
2018-03-31 2.43
2017-12-31 2.17
2017-09-30 1.99
2017-06-30 1.82
2017-03-31 1.88
2016-12-31 1.94
2016-09-30 1.73
2016-06-30 1.49
2016-03-31 1.75

*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 Chong Hing Bank will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Chong Hing Bank'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Chong Hing Bank has a total score of 1/6, 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 Chong Hing Bank 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 Chong Hing Bank'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.
  • Chong Hing Bank's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Chong Hing Bank's 1-year earnings growth exceeds its 5-year average (13.8% vs -4.4%)
  • Chong Hing Bank's earnings growth has not exceeded the US Banks industry average in the past year (13.8% vs 40.7%).
Earnings and Revenue History
Chong Hing Bank'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 Chong Hing Bank Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CGHB.F 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 3,507.52 1,607.54 1,221.27
2018-09-30 3,527.10 1,681.03 1,194.31
2018-06-30 3,546.67 1,754.52 1,167.36
2018-03-31 3,270.61 1,583.71 1,117.75
2017-12-31 2,994.54 1,412.89 1,068.13
2017-09-30 2,903.10 1,300.60 1,033.49
2017-06-30 2,811.65 1,188.31 998.84
2017-03-31 2,850.28 1,228.30 973.47
2016-12-31 2,888.91 1,268.28 948.09
2016-09-30 2,643.50 1,088.03 915.58
2016-06-30 2,398.08 907.78 883.07
2016-03-31 2,396.33 974.87 880.29
2015-12-31 2,394.58 1,041.96 877.50
2015-09-30 2,328.31 1,048.71 859.67
2015-06-30 2,262.03 1,055.46 841.83
2015-03-31 3,047.03 1,898.93 787.84
2014-12-31 3,832.03 2,742.40 733.85
2014-09-30 3,695.12 2,680.41 676.91
2014-06-30 3,558.21 2,618.42 619.98
2014-03-31 2,486.65 1,587.92 604.56
2013-12-31 1,415.09 557.42 589.14
2013-09-30 1,403.74 558.66 589.63
2013-06-30 1,392.40 559.90 590.13
2013-03-31 1,395.67 551.62 589.20
2012-12-31 1,398.95 543.34 588.28
2012-09-30 1,319.73 477.01 580.59
2012-06-30 1,240.51 410.67 572.90

*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.
  • Chong Hing Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chong Hing Bank used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Chong Hing Bank 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 Chong Hing Bank'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.
Chong Hing Bank 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 Chong Hing Bank'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 Chong Hing Bank'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 Chong Hing Bank Company Filings, last reported 4 months ago.

OTCPK:CGHB.F Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 22,542.33 13,660.38 14,137.69
2018-09-30 22,542.33 13,660.38 14,137.69
2018-06-30 17,737.47 12,938.72 7,400.15
2018-03-31 17,737.47 12,938.72 7,400.15
2017-12-31 17,433.80 19,222.72 16,509.61
2017-09-30 17,433.80 19,222.72 16,509.61
2017-06-30 16,254.37 12,879.59 31,611.78
2017-03-31 16,254.37 12,879.59 31,611.78
2016-12-31 15,913.57 13,855.41 30,284.23
2016-09-30 15,913.57 13,855.41 30,284.23
2016-06-30 15,391.11 15,524.16 24,189.17
2016-03-31 15,391.11 15,524.16 24,189.17
2015-12-31 15,107.74 5,987.05 36,368.91
2015-09-30 15,107.74 5,987.05 36,368.91
2015-06-30 11,295.76 6,215.34 25,232.22
2015-03-31 11,295.76 6,215.34 25,232.22
2014-12-31 10,783.65 7,179.45 30,533.39
2014-09-30 10,783.65 7,179.45 30,533.39
2014-06-30 7,988.27 3,344.51 24,830.89
2014-03-31 7,988.27 3,344.51 24,830.89
2013-12-31 7,731.97 3,123.75 25,473.91
2013-09-30 7,731.97 3,123.75 25,473.91
2013-06-30 7,447.30 2,425.94 25,516.37
2013-03-31 7,447.30 2,425.94 25,516.37
2012-12-31 7,374.08 2,581.29 22,793.81
2012-09-30 7,374.08 2,581.29 22,793.81
2012-06-30 7,031.89 2,477.15 22,739.41
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.
  • Chong Hing Bank has an acceptable proportion of non-loan assets held.
  • Chong Hing Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at Chong Hing Bank are broadly funded by customer deposits.
  • Chong Hing Bank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Chong Hing Bank has a sufficient allowance for bad loans.
  • Chong Hing Bank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Chong Hing Bank'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. Chong Hing Bank 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.

Dividends

 What is Chong Hing Bank'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
4.08%
Current annual income from Chong Hing Bank dividends.
If you bought $2,000 of Chong Hing Bank shares you are expected to receive $82 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?
  • Chong Hing Bank's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Chong Hing Bank's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
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
OTCPK:CGHB.F 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
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 473 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:CGHB.F Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-03-25 0.580 3.976
2019-02-28 0.580 4.029
2018-04-13 0.540 3.788
2018-03-29 0.540 3.485
2017-05-18 0.540 3.333
2016-03-10 0.580 3.628
2016-02-24 0.580 3.751
2015-05-15 0.600 3.333
2014-05-07 0.470 2.736
2013-03-28 0.460 1.772
2013-03-07 0.460 2.625
2012-08-08 0.460 3.191
2012-03-07 0.500 3.833
2011-08-10 0.500 3.495
2011-03-02 0.450 2.469
2010-08-11 0.300 1.504
2010-03-03 0.280 1.877
2009-08-13 0.130 0.883

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Chong Hing Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.7x coverage).
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 Chong Hing Bank'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 Chong Hing Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chong Hing Bank has a total score of 5/6, 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 Chong Hing Bank'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
Jianxin Zong
COMPENSATION HK$13,874,000
AGE 51
TENURE AS CEO 2.1 years
CEO Bio

Mr. Zong Jianxin has been Chief Executive Officer of Chong Hing Bank Limited since April 19, 2017 and served as its Deputy Managing Director since May 20, 2015 until May 18, 2018. Mr. Zong is an Executive Director of Yuexiu Financial Holdings Limited. Mr. Zong served as the Head of China Business at Chong Hing Bank Limited from May 20, 2015 to April 19, 2017. Mr. Zong has more than 19 years of banking experience, specialising in corporate banking, international business and investment banking business. He served as an Alternate Chief Executive and Deputy Chief Executive of Industrial and Commercial Bank of China Limited since October 4, 2010 until May 7, 2015. Mr. Zong served as Deputy General Manager of Industrial & Commercial Bank of China Asia Ltd., since January 2010. He oversaw the overall development and operation of Corporate Banking and Institutions businesses of Industrial & Commercial Bank. Mr. Zong served as the Vice President of Industrial and Commercial Bank of China Limited, Shenzhen Branch. He has been Executive Director of Chong Hing Bank Limited since September 29, 2015 and has been Deputy Chairman since May 18, 2018. He served as Director of Industrial and Commercial Bank of China Limited since October 4, 2010 until May 7, 2015. He served as a Director of Chinese Mercantile Bank, ICBC (Asia) Futures Company Limited, ICBC (Asia) Investment Management Company Limited, ICBC (Asia) Nominee Limited and ICBC (Asia) Wa Pei Nominees Limited, all of which are wholly-owned subsidiaries of ICBC. Mr. Zong graduated from Shanghai Jiao Tong University with a Master's Degree in Business Administration and qualified as an Economist.

CEO Compensation
  • Jianxin's compensation has increased by more than 20% in the past year.
  • Jianxin's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

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

2.1
Average Tenure
52
Average Age
  • The tenure for the Chong Hing Bank management team is about average.
Management Team

Jianxin Zong

TITLE
CEO & Deputy Chairman
COMPENSATION
HK$14M
AGE
51
TENURE
2.1 yrs

Wai Man Lau

TITLE
Deputy CEO & Executive Director
COMPENSATION
HK$8M
AGE
59

Vincent Chan

TITLE
Chief Financial Officer
AGE
55
TENURE
2.1 yrs

Edward Chiu

TITLE
Executive VP & COO
AGE
55
TENURE
2 yrs

Blanche Chan

TITLE
Executive VP & Head of Human Resources Division
AGE
53

Hsu Rockson

TITLE
Executive VP & Chief Risk Officer
AGE
48
TENURE
3.7 yrs

Yun Ling Chan

TITLE
Executive VP & Head of Financial Markets Division
AGE
51
TENURE
4.1 yrs

Siu Ming Fung

TITLE
Deputy Chief Executive
AGE
65
TENURE
1.7 yrs

Barbara Ma

TITLE
Executive VP & Head of Hong Kong Corporates Division
AGE
51
TENURE
2.2 yrs

Tat Wo Sin

TITLE
Executive VP & Head of Mainland Corporates Division
AGE
47
Board of Directors Tenure

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

5.3
Average Tenure
58
Average Age
  • The tenure for the Chong Hing Bank board of directors is about average.
Board of Directors

Zhaoxing Zhang

TITLE
Chairman of the Board
COMPENSATION
HK$490K
AGE
55
TENURE
5.3 yrs

Jianxin Zong

TITLE
CEO & Deputy Chairman
COMPENSATION
HK$14M
AGE
51
TENURE
1 yrs

Wai Man Lau

TITLE
Deputy CEO & Executive Director
COMPENSATION
HK$8M
AGE
59
TENURE
17.8 yrs

Yuk Wo Cheng

TITLE
Independent Non-Executive Director
COMPENSATION
HK$610K
AGE
57
TENURE
14.7 yrs

Andrew Ma

TITLE
Independent Non-Executive Director
COMPENSATION
HK$570K
AGE
76
TENURE
11.8 yrs

Ka Lun Lee

TITLE
Independent Non-Executive Director
COMPENSATION
HK$620K
AGE
63
TENURE
5.3 yrs

Joseph Yu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$600K
AGE
70
TENURE
3.8 yrs

Alfred Chow

TITLE
Non-Executive Director
COMPENSATION
HK$510K
AGE
67
TENURE
16.3 yrs

Feng Li

TITLE
Non-Executive Director
COMPENSATION
HK$440K
AGE
49
TENURE
5.3 yrs

Jing Chen

TITLE
Non-Executive Director
COMPENSATION
HK$160K
AGE
46
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
22. Aug 18 Buy Guangzhou Metro Group Co., Ltd. Company 21. Aug 18 21. Aug 18 70,126,000 $1.82 $127,394,608
X
Management checks
We assess Chong Hing Bank'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. Chong Hing Bank 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

Chong Hing Bank Limited provides banking and related financial services. The company offers fixed deposits, current and savings accounts, lending and trade finance facilities, auto financing, consumer financing, overdraft facilities, provident fund services, credit cards, and personal wealth management services. It also provides automated telephone and Internet banking services; and other banking services, including remittance and money exchange, safe deposit boxes, autopay, and direct debit services. In addition, the company offers inter-bank placement and deposit transaction services; centralized cash management services; foreign exchange trading services and forward contracts; securities trading, stockbroking, and commodities and futures broking services; and insurance products and other investment advisory services. Further, it engages in the property investment activities. Additionally, the company provides nominee, electronic data processing, and credit card management services. It operates through a network of 39 branches in Hong Kong, as well as branches in Guangzhou, Shenzhen, Shantou, and Macau; sub-branches in Guangzhou Tianhe, Foshan, Nansha, and Hengqin; and representative offices in Shanghai and San Francisco. The company was formerly known as Liu Chong Hing Bank Limited and changed its name to Chong Hing Bank Limited in December 2006. Chong Hing Bank Limited was founded in 1948 and is based in Central, Hong Kong. Chong Hing Bank Limited is a subsidiary of Yuexiu Financial Holdings Limited.

Details
Name: Chong Hing Bank Limited
CGHB.F
Exchange: OTCPK
Founded: 1948
HK$1,759,272,963
972,526,094
Website: http://www.chbank.com
Address: Chong Hing Bank Limited
Chong Hing Bank Centre,
Ground Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1111 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 13. Jul 1994
OTCPK CGHB.F Ordinary Shares Pink Sheets LLC US USD 13. Jul 1994
DB LIH Ordinary Shares Deutsche Boerse AG DE EUR 13. Jul 1994
SHSC 1111 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 13. Jul 1994
Number of employees
Current staff
Staff numbers
0
Chong Hing Bank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:20
End of day share price update: 2019/03/14 00:00
Last earnings filing: 2019/03/25
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.