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Chongqing Rural Commercial Bank

OTCPK:COGQ.F
Snowflake Description

Very undervalued with flawless balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
COGQ.F
OTCPK
HK$42B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Chongqing Rural Commercial Bank Co., Ltd., together with its subsidiaries, provides a range of banking and related financial services in the People’s Republic of China. The last earnings update was 47 days ago. More info.


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COGQ.F Share Price and Events
7 Day Returns
0%
OTCPK:COGQ.F
-3%
US Banks
-2.3%
US Market
1 Year Returns
-
OTCPK:COGQ.F
-7.8%
US Banks
4.1%
US Market
COGQ.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chongqing Rural Commercial Bank (COGQ.F) 0% 0% 0% - - -
US Banks -3% 2.9% 4.3% -7.8% 50.4% 54.4%
US Market -2.3% -0.4% 6.1% 4.1% 39.5% 44.8%
1 Year Return vs Industry and Market
  • No trading data on COGQ.F.
  • No trading data on COGQ.F.
Price Volatility
COGQ.F
Industry
5yr Volatility vs Market

COGQ.F Value

 Is Chongqing Rural Commercial 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 Chongqing Rural Commercial 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 Chongqing Rural Commercial Bank.

OTCPK:COGQ.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 13 analysts.
= Stable Book Value * Return on Equity
= CN¥8.60 * 12.5%
CN¥1.08
Book Value of Equity per Share Weighted future Book Value estimates from 10 analysts. CN¥8.60
Discount Rate (Cost of Equity) See below 14.7%
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:COGQ.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.63
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.634 (1 + (1- 25%) (623.72%))
2.741
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (2 * 5.96%)
14.65%

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

The calculations below outline how an intrinsic value for Chongqing Rural Commercial 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:COGQ.F Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.5% – 14.65%) * CN¥8.60)
CN¥-0.18
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥-0.18 / (14.65% - 2.73%)
CN¥-1.53
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥8.60 + CN¥-1.53
CN¥7.07
OTCPK:COGQ.F Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:3618)
1.151
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥7.07 x 1.151
HK$8.13
Non-primary Listing Adjustment Factor 1 share in OTCPK:COGQ.F represents 0.13494x of SEHK:3618
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.13494x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 8.13 x 0.13494
$1.10
Value per share (USD) From above. $1.10
Current discount Discount to share price of $0.56
= -1 x ($0.56 - $1.10) / $1.10
49%

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

Current Discount
Amount off the current price Chongqing Rural Commercial Bank is available for.
Intrinsic value
49%
Share price is $0.56 vs Future cash flow value of $1.1
Current Discount Checks
For Chongqing Rural Commercial Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Chongqing Rural Commercial Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Chongqing Rural Commercial Bank's share price is below the future cash flow value, and 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 Chongqing Rural Commercial Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chongqing Rural Commercial Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:COGQ.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.91
SEHK:3618 Share Price ** SEHK (2019-02-11) in HKD HK$4.15
SEHK:3618 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.869 CN¥3.61
United States of America Banks Industry PE Ratio Median Figure of 592 Publicly-Listed Banks Companies 13x
United States of America Market PE Ratio Median Figure of 3,090 Publicly-Listed Companies 18.05x

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

** Primary Listing of Chongqing Rural Commercial Bank.

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

= SEHK:3618 Share Price ÷ EPS (both in CNY)

= 3.61 ÷ 0.91

3.98x

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

  • Chongqing Rural Commercial Bank is good value based on earnings compared to the US Banks industry average.
  • Chongqing Rural Commercial Bank is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Chongqing Rural Commercial Bank's expected growth come at a high price?
Raw Data
OTCPK:COGQ.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
6.9%per year
United States of America Banks Industry PEG Ratio Median Figure of 269 Publicly-Listed Banks Companies 1.48x
United States of America Market PEG Ratio Median Figure of 2,108 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

OTCPK:COGQ.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.98x ÷ 6.9%

0.58x

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

  • Chongqing Rural Commercial Bank is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Chongqing Rural Commercial Bank's assets?
Raw Data
OTCPK:COGQ.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥7.07
SEHK:3618 Share Price * SEHK (2019-02-11) in HKD HK$4.15
SEHK:3618 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.869 CN¥3.61
United States of America Banks Industry PB Ratio Median Figure of 597 Publicly-Listed Banks Companies 1.22x
United States of America Market PB Ratio Median Figure of 5,200 Publicly-Listed Companies 1.88x
OTCPK:COGQ.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3618 Share Price ÷ Book Value per Share (both in CNY)

= 3.61 ÷ 7.07

0.51x

* Primary Listing of Chongqing Rural Commercial Bank.

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

  • Chongqing Rural Commercial Bank is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Chongqing Rural Commercial 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. Chongqing Rural Commercial Bank has a total score of 6/6, 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.

COGQ.F Future Performance

 How is Chongqing Rural Commercial Bank expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

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
6.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chongqing Rural Commercial Bank expected to grow at an attractive rate?
  • Chongqing Rural Commercial Bank's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Chongqing Rural Commercial Bank's earnings growth is positive but not above the United States of America market average.
  • Chongqing Rural Commercial Bank's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:COGQ.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:COGQ.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 6.9%
OTCPK:COGQ.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 14.5%
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 7.4%

*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:COGQ.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 13 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:COGQ.F Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 32,246 11,175 10
2020-12-31 29,897 10,222 13
2019-12-31 27,842 9,541 13
OTCPK:COGQ.F Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 19,937 -55,809 9,058
2018-09-30 20,503 -53,472 8,975
2018-06-30 20,639 -79,625 9,178
2018-03-31 20,473 -63,934 9,063
2017-12-31 20,289 -54,571 8,936
2017-09-30 19,304 -54,545 8,598
2017-06-30 19,129 -63,949 8,364
2017-03-31 19,111 -39,401 8,180
2016-12-31 19,096 -58,960 7,945
2016-09-30 19,200 -20,823 7,738
2016-06-30 19,175 4,510 7,511
2016-03-31 19,039 -22,650 7,388

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Chongqing Rural Commercial Bank's earnings are expected to grow by 6.9% yearly, however this is not considered high growth (20% yearly).
  • Chongqing Rural Commercial Bank's revenue is expected to grow by 14.5% yearly, however this is not considered high growth (20% yearly).
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:COGQ.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 13 Analyst Estimates (S&P Global) See Below

All data from Chongqing Rural Commercial Bank Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:COGQ.F Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.09 1.19 0.96 10.00
2020-12-31 1.01 1.10 0.86 14.00
2019-12-31 0.94 0.98 0.90 13.00
OTCPK:COGQ.F Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.91
2018-09-30 0.90
2018-06-30 0.93
2018-03-31 0.94
2017-12-31 0.94
2017-09-30 0.92
2017-06-30 0.90
2017-03-31 0.87
2016-12-31 0.85
2016-09-30 0.83
2016-06-30 0.81
2016-03-31 0.80

*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.
  • Chongqing Rural Commercial Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Chongqing Rural Commercial 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.
Chongqing Rural Commercial Bank has a total score of 2/6, 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.

COGQ.F Past Performance

  How has Chongqing Rural Commercial 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 Chongqing Rural Commercial 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.
  • Chongqing Rural Commercial Bank's year on year earnings growth rate has been positive over the past 5 years.
  • Chongqing Rural Commercial Bank's 1-year earnings growth is less than its 5-year average (1.4% vs 8.5%)
  • Chongqing Rural Commercial Bank's earnings growth has not exceeded the US Banks industry average in the past year (1.4% vs 40.8%).
Earnings and Revenue History
Chongqing Rural Commercial 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 Chongqing Rural Commercial Bank Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:COGQ.F Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 19,937.05 9,058.19 7,379.58
2018-09-30 20,503.02 8,974.75 13,036.86
2018-06-30 20,639.15 9,177.54 7,659.85
2018-03-31 20,472.69 9,063.19 7,612.66
2017-12-31 20,289.27 8,935.97 7,612.66
2017-09-30 19,303.72 8,597.95 7,431.94
2017-06-30 19,129.44 8,363.53 7,358.28
2017-03-31 19,110.71 8,179.75 7,431.94
2016-12-31 19,095.81 7,944.75 7,431.94
2016-09-30 19,200.37 7,737.91 7,128.16
2016-06-30 19,175.08 7,511.07 7,376.67
2016-03-31 19,039.24 7,388.44 7,128.16
2015-12-31 18,663.46 7,223.30 7,128.16
2015-09-30 18,550.06 7,194.67 6,707.60
2015-06-30 18,235.97 7,125.03 6,944.14
2015-03-31 17,998.22 7,022.85 6,707.60
2014-12-31 17,510.65 6,828.46 6,707.60
2014-09-30 16,829.54 6,616.81 5,836.32
2014-06-30 16,186.43 6,364.74 6,242.39
2014-03-31 15,661.64 6,208.67 5,836.32
2013-12-31 15,124.52 5,991.05 5,836.32
2013-09-30 14,945.63 5,947.44 4,926.30
2013-06-30 14,376.64 5,775.04 5,453.20
2013-03-31 13,707.57 5,575.83 4,926.30
2012-12-31 13,142.54 5,361.50 4,926.30
2012-09-30 12,308.49 5,110.29 2,987.23
2012-06-30 11,660.11 4,811.87 3,818.77

*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.
  • Chongqing Rural Commercial Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chongqing Rural Commercial Bank used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Chongqing Rural Commercial 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 Chongqing Rural Commercial 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.
Chongqing Rural Commercial 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.

COGQ.F Health

 How is Chongqing Rural Commercial 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 Chongqing Rural Commercial 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 Chongqing Rural Commercial Bank Company Filings, last reported 4 months ago.

OTCPK:COGQ.F Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 72,148.86 224,981.35 218,565.55
2018-09-30 72,148.86 224,981.35 218,565.55
2018-06-30 67,841.91 155,061.92 266,339.04
2018-03-31 67,869.79 148,100.52 313,972.23
2017-12-31 65,245.69 165,981.95 165,143.33
2017-09-30 63,510.24 158,834.45 198,310.49
2017-06-30 57,143.84 158,467.91 162,477.26
2017-03-31 56,598.52 147,078.22 218,631.57
2016-12-31 54,189.84 113,256.88 170,406.94
2016-09-30 52,939.44 108,179.60 242,677.49
2016-06-30 50,773.26 110,879.79 156,884.59
2016-03-31 50,504.28 72,886.27 180,553.56
2015-12-31 48,287.80 98,171.23 166,248.75
2015-09-30 46,931.88 89,332.43 207,183.90
2015-06-30 44,921.23 77,252.18 164,064.03
2015-03-31 44,900.30 60,925.26 212,235.49
2014-12-31 42,848.41 71,650.71 167,058.35
2014-09-30 40,586.63 58,572.78 217,180.22
2014-06-30 38,834.48 64,380.92 170,977.77
2014-03-31 38,793.78 59,067.72 145,310.94
2013-12-31 36,889.31 42,560.15 128,626.50
2013-09-30 35,660.30 57,097.47 157,197.86
2013-06-30 34,168.99 52,238.65 125,479.84
2013-03-31 34,104.77 55,072.63 140,017.93
2012-12-31 32,215.73 52,132.28 103,641.63
2012-09-30 30,900.18 38,693.96 92,038.77
2012-06-30 29,571.48 55,796.93 99,983.50
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.
  • Chongqing Rural Commercial Bank has an acceptable proportion of non-loan assets held.
  • Chongqing Rural Commercial Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at Chongqing Rural Commercial Bank are broadly funded by customer deposits.
  • Chongqing Rural Commercial Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Chongqing Rural Commercial Bank has a sufficient allowance for bad loans.
  • Chongqing Rural Commercial Bank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Chongqing Rural Commercial 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. Chongqing Rural Commercial 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.

COGQ.F Dividends

 What is Chongqing Rural Commercial 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
5.54%
Current annual income from Chongqing Rural Commercial Bank dividends. Estimated to be 6.11% next year.
If you bought $2,000 of Chongqing Rural Commercial Bank shares you are expected to receive $111 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?
  • Chongqing Rural Commercial Bank's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.42%).
  • Chongqing Rural Commercial Bank's dividend is above the markets top 25% of dividend payers in United States of America (3.67%).
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:COGQ.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 13 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 472 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 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:COGQ.F Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.24 8.00
2020-12-31 0.22 13.00
2019-12-31 0.21 12.00
OTCPK:COGQ.F Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-26 0.200 5.200
2018-04-03 0.200 5.000
2017-05-05 0.200 4.220
2016-06-17 0.200 4.855
2015-03-27 0.200 5.189
2014-03-28 0.190 6.013
2013-03-22 0.170 5.945
2012-03-19 0.140 4.885
2011-10-25 0.000 0.000
2011-08-22 0.000 0.000
2011-08-12 0.000 0.000
2011-03-28 0.000 0.000
2011-03-25 0.000 0.000

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

  • Whilst dividend payments have been stable, Chongqing Rural Commercial Bank has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Chongqing Rural Commercial Bank only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Chongqing Rural Commercial Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.6x coverage).
X
Income/ dividend checks
We assess Chongqing Rural Commercial 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 Chongqing Rural Commercial Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chongqing Rural Commercial Bank has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

COGQ.F Management

 What is the CEO of Chongqing Rural Commercial 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
Wenhui Xie
COMPENSATION CN¥908,000
AGE 45
CEO Bio

Mr. Wenhui Xie has serves as President and deputy Secretary to the Party Committee of Chongqing Rural Commercial Bank Co., Ltd. (“Bank”) since December 2013. Mr. Xie has been an Executive Director of Chongqing Rural Commercial Bank Co., Ltd. March 28, 2014. He has been an Executive Director of the Bank since August 2014. Mr. Xie had been a Deputy President of the Bank from May 2011 to December 2013. Mr. Xie was a General Manager of the Information Technology Department at the Headquarters of the Bank from January 2010 to May 2011, Deputy General Manager (in charge of work) of the Technology Department at the Headquarters of the Bank from August 2008 to January 2010. Mr. Xie held several positions in Chongqing Rural Credit Cooperative Union from January 2007 to August 2008, including the Deputy General Manager and assistant to General Manager at the Technology Department. Prior to joining the Bank, Mr. Xie served as a Deputy Director of the Technology Division at the Chongqing Branch of Industrial and Commercial Bank of China from March 1998 to January 2007. Mr. Xie worked in Zhuhai Software Development Centre of Industrial and Commercial Bank of China from July 1997 to March 1998. Mr. Xie obtained a master’s degree in precision instrument and machinery engineering from Chongqing University in July 1997 and is currently an economist and engineer.

CEO Compensation
  • Wenhui's compensation has increased by more than 20% in the past year.
  • Wenhui'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 Chongqing Rural Commercial Bank management team in years:

2.7
Average Tenure
50
Average Age
  • The tenure for the Chongqing Rural Commercial Bank management team is about average.
Management Team

Jianzhong Liu

TITLE
Chairman of the Board
COMPENSATION
CN¥796K
AGE
55

Wenhui Xie

TITLE
President & Executive Director
COMPENSATION
CN¥908K
AGE
45

Peizong Zhang

TITLE
Executive Director
COMPENSATION
CN¥357K
AGE
43

Xin Gao

TITLE
IR Officer

Jiangqiao Liu

TITLE
VP & Secretary of the Board
AGE
47
TENURE
2.7 yrs

Wai Ha Chu

TITLE
Company Secretary
TENURE
0.5 yrs

Yi Zheng

TITLE
GM of Credit Approval Department & Employee Representative Supervisor
COMPENSATION
CN¥1M
AGE
53

Yuzhou Zhu

TITLE
Director of Security Monitoring Department & Employee Representative Supervisor
COMPENSATION
CN¥988K
AGE
53
TENURE
7.6 yrs
Board of Directors Tenure

Average tenure and age of the Chongqing Rural Commercial Bank board of directors in years:

4.5
Average Tenure
52
Average Age
  • The tenure for the Chongqing Rural Commercial Bank board of directors is about average.
Board of Directors

Jianzhong Liu

TITLE
Chairman of the Board
COMPENSATION
CN¥796K
AGE
55
TENURE
10.9 yrs

Wenhui Xie

TITLE
President & Executive Director
COMPENSATION
CN¥908K
AGE
45
TENURE
5.2 yrs

Peizong Zhang

TITLE
Executive Director
COMPENSATION
CN¥357K
AGE
43
TENURE
0.4 yrs

Yi Zheng

TITLE
GM of Credit Approval Department & Employee Representative Supervisor
COMPENSATION
CN¥1M
AGE
53
TENURE
7.5 yrs

Yuzhou Zhu

TITLE
Director of Security Monitoring Department & Employee Representative Supervisor
COMPENSATION
CN¥988K
AGE
53
TENURE
7.5 yrs

Zengting Yuan

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥180K
AGE
42
TENURE
4.6 yrs

Guohua Cao

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥180K
AGE
51
TENURE
4.5 yrs

Yuemin Ni

TITLE
Chairwoman of the Board of Supervisors
AGE
52
TENURE
4.3 yrs

Qinghua Song

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥180K
AGE
52
TENURE
1.7 yrs

Qiaoyun Zhang

TITLE
Independent Non Executive Director
AGE
55
TENURE
0.4 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 ($) Value ($)
20. Feb 19 Sell BlackRock, Inc. Company 15. Feb 19 15. Feb 19 -49,256,000 $0.57 $-28,312,053
13. Feb 19 Sell BlackRock, Inc. Company 08. Feb 19 08. Feb 19 -3,699,000 $0.58 $-2,140,101
02. Feb 19 Sell BlackRock, Inc. Company 30. Jan 19 30. Jan 19 -582,000 $0.58 $-337,712
04. Dec 18 Sell BlackRock, Inc. Company 29. Nov 18 29. Nov 18 -4,608,000 $0.58 $-2,668,940
04. Dec 18 Buy BlackRock, Inc. Company 29. Nov 18 29. Nov 18 420,231 $0.58 $243,397
01. Dec 18 Buy BlackRock, Inc. Company 28. Nov 18 28. Nov 18 675,635 $0.58 $392,507
25. Sep 18 Sell BlackRock, Inc. Company 20. Sep 18 20. Sep 18 -512,000 $0.54 $-275,436
22. Sep 18 Buy BlackRock, Inc. Company 19. Sep 18 19. Sep 18 846,000 $0.55 $464,851
10. Aug 18 Sell BlackRock, Inc. Company 07. Aug 18 07. Aug 18 -641,000 $0.58 $-374,168
25. Jun 18 Buy Fosun International Holdings Ltd. Company 20. Jun 18 20. Jun 18 1,441,000 $0.65 $932,596
29. May 18 Sell J.P. Morgan Asset Management, Inc. Company 24. May 18 24. May 18 -1,895,000 $0.70 $-1,325,670
30. May 18 Buy Fosun International Holdings Ltd. Company 25. May 18 25. May 18 816,000 $0.70 $570,275
26. May 18 Buy BlackRock, Inc. Company 24. May 18 24. May 18 2,298,000 $0.70 $1,608,179
X
Management checks
We assess Chongqing Rural Commercial 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. Chongqing Rural Commercial 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.

COGQ.F News

Simply Wall St News

COGQ.F Company Info

Description

Chongqing Rural Commercial Bank Co., Ltd., together with its subsidiaries, provides a range of banking and related financial services in the People’s Republic of China. It operates in three segments: Corporate Banking, Personal Banking, and Financial Market Operations. The Corporate Banking segment offers financial products and services, including deposit products, corporate loans, trade financing, financial leasing, and other corporate intermediary services to corporations, government agencies, and financial institutions. The Personal Banking segment provides financial products and services, such as deposit products, personal loans, cards, personal wealth management services, and other types of personal intermediary services to individual customers. The Financial Market Operations segment conducts money market or repurchase transactions; and invests in debt instruments on behalf of customers. The company also provides mobile banking, Internet banking, and telephone and SMS banking services, as well as Internet finance platform and mobile integrated terminal. As of December 31, 2018, it had 1,775 branches, including 1 headquarter, 6 branches, 1 business department, 36 tier-1 sub-branches, 108 tier-2 sub-branches, 2 community branch outlets, and 1,621 branch outlets in 38 administrative districts and counties in Chongqing; 1,461 distribution outlets in the County area of Chongqing and 312 outlets in the city’s urban area; and 4,854 ATMs and self-service inquiry terminals. The company was formerly known as Chongqing Rural Credit Union and changed its name to Chongqing Rural Commercial Bank Co., Ltd. in 2008. Chongqing Rural Commercial Bank Co., Ltd. was founded in 1951 and is based in Chongqing, the People’s Republic of China.

Details
Name: Chongqing Rural Commercial Bank Co., Ltd.
COGQ.F
Exchange: OTCPK
Founded: 1951
HK$5,287,425,737
10,000,000,000
Website: http://www.cqrcb.com
Address: Chongqing Rural Commercial Bank Co., Ltd.
No. 36 Jinshamen Road,
Jiangbei District,
Chongqing,
400023,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3618 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 16. Dec 2010
OTCPK COGQ.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 16. Dec 2010
DB C3B Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 16. Dec 2010
SHSC 3618 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 16. Dec 2010
SZSC 3618 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 16. Dec 2010
OTCPK CRCB.Y ADR Pink Sheets LLC US USD 24. Jul 2012
Number of employees
Current staff
Staff numbers
0
Chongqing Rural Commercial Bank employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/12 00:59
End of day share price update: 2019/02/11 00:00
Last estimates confirmation: 2019/05/09
Last earnings filing: 2019/03/26
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.