OTCPK:CHBJ.F

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Very undervalued with flawless balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has China CITIC Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

CHBJ.F

1.4%

US Banks

1.0%

US Market


1 Year Return

n/a

CHBJ.F

0.2%

US Banks

6.7%

US Market

Return vs Industry: Insufficient data to determine how CHBJ.F performed against the US Banks industry.

Return vs Market: Insufficient data to determine how CHBJ.F performed against the US Market.


Share holder returns

CHBJ.FIndustryMarket
7 Day0%1.4%1.0%
30 Day15.6%-2.6%-1.8%
90 Dayn/a0.8%-1.8%
1 Yearn/a3.1%0.2%9.1%6.7%
3 Yearn/a52.0%41.5%46.1%36.6%
5 Year-11.1%-11.1%69.7%51.2%66.9%48.6%

Price Volatility Vs. Market

How volatile is China CITIC Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is China CITIC Bank undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Undervalued: CHBJ.F ($0.52) is trading below our estimate of fair value ($1.37)

Significantly Undervalued: CHBJ.F is trading below fair value by more than 20%.


Price Based on Earnings

PE vs Industry: CHBJ.F is good value based on its PE Ratio (4.1x) compared to the Banks industry average (12.5x).

PE vs Market: CHBJ.F is good value based on its PE Ratio (4.1x) compared to the US market (17.5x).


Price Based on Expected Growth

Low PEG Ratio: CHBJ.F is good value based on its PEG Ratio (0.6x)


Price Based on Value of Assets

PB vs Industry: CHBJ.F is good value based on its PB Ratio (0.4x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is China CITIC Bank expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

6.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: CHBJ.F's forecast earnings growth (6.5% per year) is above the savings rate (2.7%).

Earnings vs Market: CHBJ.F's earnings (6.5% per year) are forecast to grow slower than the US market (14.5% per year).

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

Revenue vs Market: CHBJ.F's revenue (11% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: CHBJ.F's revenue (11% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: CHBJ.F's Return on Equity is forecast to be low in 3 years time (10.4%).


Next Steps

Past Performance

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

1.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CHBJ.F's earnings have grown by 1.6% per year over the past 5 years.

Accelerating Growth: CHBJ.F's earnings growth over the past year (6.6%) exceeds its 5-year average (1.6% per year).

Earnings vs Industry: CHBJ.F earnings growth over the past year (6.6%) underperformed the Banks industry 31.8%.


Return on Equity

High ROE: CHBJ.F's Return on Equity (10.2%) is considered low.


Return on Assets

ROA vs Industry: CHBJ.F's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate CHBJ.F's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CHBJ.F has a low level of unsold assets or inventory.

Debt Coverage by Assets: CHBJ.F's debt is covered by short term assets (assets are 1.722610x debt).


Financial Institutions Analysis

Asset Level: CHBJ.F's level of assets compared to its equity is moderate.

Allowance for Bad Loans: CHBJ.F has a sufficient allowance for bad loans.

Low Risk Liabilities: CHBJ.F's liabilities are made up of primarily low risk sources of funding.

Loan Level: CHBJ.F has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CHBJ.F's loans are broadly funded by customer deposits.

Level of Bad Loans: CHBJ.F has an appropriate level of bad loans (1.72%)


Next Steps

Dividend

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

6.88%

Expected Dividend Yield


Dividend Yield vs Market

company5.9%marketbottom25%1.5%markettop25%3.8%industryaverage2.5%forecastin3Years6.9%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: CHBJ.F's dividend (5.93%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: CHBJ.F's dividend (5.93%) is in the top 25% of dividend payers in the US market (3.77%)

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

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (24.6%), CHBJ.F's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CHBJ.F's dividends in 3 years are forecast to be well covered by earnings (26.7% payout ratio).


Next Steps

Management

What is the CEO of China CITIC Bank's salary, the management and board of directors tenure and is there insider trading?

0.6yrs

Average management tenure


CEO

Heying Fang (53yo)

0.6yrs

Tenure

CN¥1,568,000

Compensation

Mr. Heying Fang is the Chief Financial Officer and Director at China CITIC Bank Corporation Ltd. Mr. Fang serves as President at China CITIC Bank Corporation Ltd since March 29, 2019. Mr. Fang served as  ...


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 US market.

Compensation vs Earnings: Insufficient data to compare Heying's compensation with company performance.


Management Age and Tenure

0.6yrs

Average Tenure

53yo

Average Age

Experienced Management: CHBJ.F's management team is not considered experienced ( 0.6 years average tenure), which suggests a new team.


Board Age and Tenure

2.9yrs

Average Tenure

56yo

Average Age

Experienced Board: CHBJ.F's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


Insider Trading

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


Ownership Breakdown


Management Team

  • Wei Lu (48yo)

    GM of the Asset & Liability Department and Business Director

    • Tenure: 0.3yrs
  • Fu Lian (64yo)

    Director of HR of CITIC Industrial Bank and Secretary of Discipline Inspection Committee

    • Tenure: 0yrs
  • Wendy Kam (51yo)

    Joint Company Secretary

    • Tenure: 12.7yrs
  • Qingping Li (57yo)

    Executive Chairperson

    • Tenure: 3.3yrs
  • Heying Fang (53yo)

    President

    • Tenure: 0.6yrs
    • Compensation: CN¥1.57m
  • Peixia Li

    General Manager of the Finance and Accounting Department

    • Tenure: 0yrs
  • Ming Yao (59yo)

    Chief Risk Officer

    • Tenure: 2.4yrs
  • Qing Zhang (51yo)

    Secretary of the Board & Joint Company Secretary

    • Tenure: 0.3yrs

Board Members

  • Cao He (64yo)

    Independent Non-Executive Director

    • Tenure: 3.3yrs
    • Compensation: CN¥300.00k
  • Guoqiang Cao (55yo)

    Non-Executive Director

    • Tenure: 1.1yrs
    • Compensation: CN¥629.00k
  • Qingping Li (57yo)

    Executive Chairperson

    • Tenure: 3.3yrs
  • Xiuhong Wang (73yo)

    External Supervisor

    • Tenure: 15.8yrs
    • Compensation: CN¥275.00k
  • Heying Fang (53yo)

    President

    • Tenure: 0.6yrs
    • Compensation: CN¥1.57m
  • Jun Qian (49yo)

    Independent Non-Executive Director

    • Tenure: 2.8yrs
    • Compensation: CN¥300.00k
  • Lihua Chen (57yo)

    Independent Non-Executive Director

    • Tenure: 3.3yrs
    • Compensation: CN¥300.00k
  • Fang Huang (46yo)

    Non-Executive Director

    • Tenure: 2.9yrs
  • Isaac Yan (59yo)

    Independent Non-Executive Director

    • Tenure: 1.1yrs
  • Cheng Liu (52yo)

    Chairman of the Supervisor Board & Employee Representative Supervisor

    • Tenure: 1.5yrs

Company Information

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


Key Information

  • Name: China CITIC Bank Corporation Limited
  • Ticker: CHBJ.F
  • Exchange: OTCPK
  • Founded: 1987
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: HK$289.949b
  • Listing Market Cap: HK$36.964b
  • Shares outstanding: 48.93b
  • Website: https://www.citicbank.com

Number of Employees


Location

  • China CITIC Bank Corporation Limited
  • No.9 Chaoyangmen Beidajie
  • Dongcheng District
  • Beijing
  • 100010
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
601998SHSE (Shanghai Stock Exchange)Domestic SharesCNCNYApr 2007
998SEHK (The Stock Exchange of Hong Kong Ltd.)YesForeign Shares-Foreign ListedHKHKDApr 2007
D7CDB (Deutsche Boerse AG)YesForeign Shares-Foreign ListedDEEURApr 2007
CHBJ.FOTCPK (Pink Sheets LLC)YesForeign Shares-Foreign ListedUSUSDApr 2007
998SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDApr 2007
601998XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect)Domestic SharesCNCNYApr 2007
998SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDApr 2007
CHCJ.YOTCPK (Pink Sheets LLC)ADRUSUSDJul 2010

Biography

China CITIC Bank Corporation Limited provides various banking products and services in the People’s Republic of China and internationally. It operates through Corporate Banking, Personal Banking, and Treas ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 02:13
End of Day Share Price2019/10/02 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.

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