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CITIC Securities

SHSE:600030
Snowflake Description

Average dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
600030
SHSE
CN¥287B
Market Cap
  1. Home
  2. CN
  3. Diversified Financials
Company description

CITIC Securities Company Limited provides various financial products and services in Mainland China and internationally. The last earnings update was 38 days ago. More info.


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600030 Share Price and Events
7 Day Returns
12.7%
SHSE:600030
5.1%
CN Capital Markets
2.8%
CN Market
1 Year Returns
24.7%
SHSE:600030
13.3%
CN Capital Markets
19.4%
CN Market
600030 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CITIC Securities (600030) 12.7% 1% 18.3% 24.7% 52.6% -15.1%
CN Capital Markets 5.1% -4.6% 11.7% 13.3% -14.1% -33.1%
CN Market 2.8% -0.8% 9.5% 19.4% -8.5% 5.6%
1 Year Return vs Industry and Market
  • 600030 outperformed the Capital Markets industry which returned 13.3% over the past year.
  • 600030 outperformed the Market in China which returned 19.4% over the past year.
Price Volatility
600030
Industry
5yr Volatility vs Market

600030 Value

 Is CITIC Securities 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 CITIC Securities 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 CITIC Securities.

SHSE:600030 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 12 analysts.
= Stable Book Value * Return on Equity
= CN¥14.67 * 9.3%
CN¥1.36
Book Value of Equity per Share Weighted future Book Value estimates from 14 analysts. CN¥14.67
Discount Rate (Cost of Equity) See below 11.3%
Perpetual Growth Rate 10-Year CN Government Bond Rate 3.2%

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 SHSE:600030
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CN Govt Bond Rate 3.2%
Equity Risk Premium S&P Global 6.3%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.77
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.772 (1 + (1- 25%) (110.31%))
1.275
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.27
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (1.275 * 6.33%)
11.27%

Discounted Cash Flow Calculation for SHSE:600030 using Excess Returns Model Model

The calculations below outline how an intrinsic value for CITIC Securities 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.

SHSE:600030 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.3% – 11.27%) * CN¥14.67)
CN¥-0.29
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥-0.29 / (11.27% - 3.2%)
CN¥-3.65
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥14.67 + CN¥-3.65
CN¥11.02
SHSE:600030 Discount to Share Price
Calculation Result
Value per share (CNY) From above. CN¥11.02
Current discount Discount to share price of CN¥25.42
= -1 x (CN¥25.42 - CN¥11.02) / CN¥11.02
-130.7%

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

  • The current share price of CITIC Securities is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 CITIC Securities's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CITIC Securities's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SHSE:600030 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥1.01
SHSE:600030 Share Price ** SHSE (2020-02-20) in CNY CN¥25.42
China Capital Markets Industry PE Ratio Median Figure of 46 Publicly-Listed Capital Markets Companies 32.55x
China Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 33.35x

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

** Primary Listing of CITIC Securities.

SHSE:600030 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SHSE:600030 Share Price ÷ EPS (both in CNY)

= 25.42 ÷ 1.01

25.17x

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

  • CITIC Securities is good value based on earnings compared to the CN Capital Markets industry average.
  • CITIC Securities is good value based on earnings compared to the China market.
Price based on expected Growth
Does CITIC Securities's expected growth come at a high price?
Raw Data
SHSE:600030 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.17x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
14.5%per year
China Capital Markets Industry PEG Ratio Median Figure of 19 Publicly-Listed Capital Markets Companies 1.97x
China Market PEG Ratio Median Figure of 1,290 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

SHSE:600030 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.17x ÷ 14.5%

1.74x

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

  • CITIC Securities is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on CITIC Securities's assets?
Raw Data
SHSE:600030 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥13.21
SHSE:600030 Share Price * SHSE (2020-02-20) in CNY CN¥25.42
China Capital Markets Industry PB Ratio Median Figure of 48 Publicly-Listed Capital Markets Companies 1.68x
China Market PB Ratio Median Figure of 3,649 Publicly-Listed Companies 2.4x
SHSE:600030 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SHSE:600030 Share Price ÷ Book Value per Share (both in CNY)

= 25.42 ÷ 13.21

1.92x

* Primary Listing of CITIC Securities.

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

  • CITIC Securities is overvalued based on assets compared to the CN Capital Markets industry average.
X
Value checks
We assess CITIC Securities'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. CITIC Securities has a total score of 2/6, 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.

600030 Future Performance

 How is CITIC Securities expected to perform in the next 1 to 3 years based on estimates from 12 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
14.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CITIC Securities expected to grow at an attractive rate?
  • CITIC Securities's earnings growth is expected to exceed the low risk savings rate of 3.2%.
Growth vs Market Checks
  • CITIC Securities's earnings growth is positive but not above the China market average.
  • CITIC Securities's revenue growth is positive but not above the China market average.
Annual Growth Rates Comparison
Raw Data
SHSE:600030 Future Growth Rates Data Sources
Data Point Source Value (per year)
SHSE:600030 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 14.5%
SHSE:600030 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 11.1%
China Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 16.7%
China Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 8.5%
China Market Earnings Growth Rate Market Cap Weighted Average 22%
China Market Revenue Growth Rate Market Cap Weighted Average 16.2%

*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
SHSE:600030 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SHSE:600030 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 54,042 16,610 10
2020-12-31 48,856 15,732 6
2020-02-20
SHSE:600030 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 43,177 12,288
2019-09-30 40,415 23,432 12,598
2019-06-30 36,040 61,583 10,270
2019-03-31 34,753 68,447 10,958
2018-12-31 34,076 57,654 9,390
2018-09-30 39,516 16,676 10,821
2018-06-30 42,967 -19,177 12,072
2018-03-31 44,083 -51,138 11,822
2017-12-31 42,845 -104,193 11,433
2017-09-30 39,250 -69,490 10,351
2017-06-30 38,428 -56,998 10,050
2017-03-31 38,688 -72,833 11,025

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CITIC Securities's earnings are expected to grow by 14.5% yearly, however this is not considered high growth (20% yearly).
  • CITIC Securities's revenue is expected to grow by 11.1% 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
SHSE:600030 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from CITIC Securities Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SHSE:600030 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.37 1.89 1.07 17.00
2020-12-31 1.27 1.32 1.23 4.00
2020-02-20
SHSE:600030 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 1.01
2019-09-30 1.05
2019-06-30 0.84
2019-03-31 0.91
2018-12-31 0.77
2018-09-30 0.89
2018-06-30 1.00
2018-03-31 0.97
2017-12-31 0.94
2017-09-30 0.85
2017-06-30 0.83
2017-03-31 0.90

*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.
  • CITIC Securities is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess CITIC Securities'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 China market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the China 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.
CITIC Securities 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.

600030 Past Performance

  How has CITIC Securities 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 CITIC Securities's growth in the last year to its industry (Capital Markets).
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.
  • CITIC Securities's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • CITIC Securities's 1-year earnings growth exceeds its 5-year average (30.9% vs -9.8%)
  • CITIC Securities's earnings growth has not exceeded the CN Capital Markets industry average in the past year (30.9% vs 48.3%).
Earnings and Revenue History
CITIC Securities'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 CITIC Securities Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SHSE:600030 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 43,177.00 12,288.00
2019-09-30 40,415.00 12,597.52 1,046.50
2019-06-30 36,040.06 10,270.37 1,046.50
2019-03-31 34,752.91 10,957.75 1,046.50
2018-12-31 34,075.57 9,389.90 1,046.50
2018-09-30 39,515.87 10,820.83 1,161.73
2018-06-30 42,966.89 12,071.91 1,161.73
2018-03-31 44,082.85 11,822.22 1,161.73
2017-12-31 42,845.01 11,433.26 1,161.73
2017-09-30 39,250.40 10,351.25 1,436.11
2017-06-30 38,428.50 10,049.55 1,436.11
2017-03-31 38,687.98 11,024.64 1,436.11
2016-12-31 37,711.33 10,365.17 1,436.11
2016-09-30 40,373.85 11,754.78 1,320.71
2016-06-30 42,631.74 12,571.65 1,320.71
2016-03-31 53,391.27 17,624.06 1,320.71
2015-12-31 55,722.86 19,799.79 1,320.71
2015-09-30 54,184.26 20,958.34 850.22
2015-06-30 49,871.62 19,731.85 850.22
2015-03-31 34,459.67 13,843.88 850.22
2014-12-31 29,259.51 11,337.19 850.22
2014-09-30 23,148.35 7,912.03 482.71
2014-06-30 20,616.31 7,209.86 339.63
2014-03-31 18,011.27 5,578.95 482.71
2013-12-31 16,171.05 5,243.92 482.71
2013-09-30 14,061.75 5,013.72 263.30
2013-06-30 12,095.19 4,098.34 406.38
2013-03-31 12,260.14 4,349.49 263.30

*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.
  • CITIC Securities has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CITIC Securities used its assets more efficiently than the CN Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if CITIC Securities 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 CITIC Securities'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 Capital Markets 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.
CITIC Securities has a total score of 2/6, 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.

600030 Health

 How is CITIC Securities's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up CITIC Securities's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CITIC Securities is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CITIC Securities's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CITIC Securities'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2x debt.
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 CITIC Securities Company Filings, last reported 1 month ago.

SHSE:600030 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 163,738.16 316,877.98 503,449.07
2019-09-30 163,738.16 315,281.45 503,449.07
2019-06-30 159,732.49 332,705.69 500,117.18
2019-03-31 161,688.00 253,868.84 438,262.41
2018-12-31 156,831.50 292,093.45 445,920.79
2018-09-30 156,362.93 239,538.59 400,375.90
2018-06-30 153,455.43 262,614.98 414,392.93
2018-03-31 155,159.08 285,701.44 467,961.93
2017-12-31 153,142.56 281,627.30 397,462.61
2017-09-30 150,513.03 275,597.87 382,620.40
2017-06-30 147,043.89 243,682.35 358,716.37
2017-03-31 148,877.75 261,480.71 374,355.39
2016-12-31 145,788.67 240,039.90 355,431.06
2016-09-30 142,419.32 190,688.68 294,108.98
2016-06-30 138,978.85 196,449.65 319,045.62
2016-03-31 141,821.57 217,328.69 335,367.31
2015-12-31 141,737.10 244,048.15 364,476.35
2015-09-30 136,355.48 246,280.55 395,626.46
2015-06-30 132,750.57 290,087.79 495,269.84
2015-03-31 106,187.35 244,638.13 328,502.78
2014-12-31 101,131.49 215,135.36 286,090.64
2014-09-30 94,601.28 154,651.24 231,963.77
2014-06-30 91,438.74 147,782.73 208,860.31
2014-03-31 89,991.64 136,781.83 184,205.25
2013-12-31 89,402.10 103,007.87 154,161.00
2013-09-30 88,383.84 90,527.74 149,719.05
2013-06-30 84,583.29 67,762.91 116,885.91
2013-03-31 87,467.32 44,611.90 111,974.55
  • CITIC Securities's level of debt (192.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (212.9% vs 192.6% today).
  • Debt is not well covered by operating cash flow (7.4%, less than 20% of total debt).
  • Unable to confirm if the interest payments on CITIC Securities's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess CITIC Securities'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. CITIC Securities has a total score of 3/6, 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.

600030 Dividends

 What is CITIC Securities'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
1.38%
Current annual income from CITIC Securities dividends. Estimated to be 2.23% next year.
If you bought CN¥2,000 of CITIC Securities shares you are expected to receive CN¥28 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?
  • CITIC Securities's pays a higher dividend yield than the bottom 25% of dividend payers in China (0.42%).
  • CITIC Securities's dividend is below the markets top 25% of dividend payers in China (1.87%).
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
SHSE:600030 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 12 Analyst Estimates (S&P Global) See Below
China Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 39 Stocks 1.2%
China Market Average Dividend Yield Market Cap Weighted Average of 2578 Stocks 1.7%
China Minimum Threshold Dividend Yield 10th Percentile 0.2%
China Bottom 25% Dividend Yield 25th Percentile 0.4%
China Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

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

SHSE:600030 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.60 11.00
2020-12-31 0.53 13.00
2020-02-20
SHSE:600030 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-21 0.350 1.543
2018-08-16 0.400 2.264
2017-05-04 0.350 1.962
2016-06-28 0.500 3.024
2015-04-29 0.310 1.689
2014-08-07 0.150 0.763
2013-06-14 0.300 2.613
2012-06-21 0.430 3.558
2011-04-14 0.500 4.153
2010-04-01 0.333 2.476
2010-01-14 0.333 1.789
2009-04-30 0.333 1.732

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of CITIC Securities's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess CITIC Securities's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.2%) - 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 CITIC Securities afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CITIC Securities 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.

600030 Management

 What is the CEO of CITIC Securities'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
Minghui Yang
COMPENSATION CN¥9,795,000
AGE 55
TENURE AS CEO 3.7 years
CEO Bio

Mr. Minghui Yang is President of CITIC Securities Company Limited since June 27, 2016 and is its Director since January 19, 2016. Mr. Yang joined CITIC Securities Company Limited in 1995. He is Managing Director of CITIC Securities Company Limited until June 27, 2016. Mr. Yang's previous experiences include an Engineer and Deputy Division Head at Beijing Textile Machinery Research Institute, a Project Manager in textile division at CITIC Industrial Investment Trust Co., a Project Manager of Securities Department at China International Trust & Investment Corporation, an Assistant General Manager and Vice President at CITIC Securities Ltd, Vice General Manager of CITIC Securities Beijing Branch. He is Director of Huaxia Fund Management Co., Ltd and China AMC. Mr. Yang is Chairman and Director of China Asset Management (Hong Kong) Limited since September 24, 2013. He is Chairman of CITIC-Prudential Fund Management Co., Ltd. from 2005 to 2007. He is Executive Director of CITIC Securities Company Limited since January 19, 2016. Mr. Yang is a Director, Assistant Manager and Deputy General Manager of CITIC Securities Company Limited. Mr. Yang is Director and Executive Vice-President of CITIC Holdings and a Director of CITIC Trust from 2002 to 2005; He is an Executive Director and the president of China Jianyin InvestmentSecurities Company Limited from 2005 to 2011. Mr. Yang was granted the title of senior economist by China International Trust and Investment Corporation, the predecessor of CITIC Group, in October 1996. Mr. Yang obtained a Master’s degree in engineering (majoring in textile machinery) from the Department of Mechanical Engineering of East China Institute of Textile Science and Technology in 1985. Mr. Yang obtained a Bachelor’s degree in engineering (majoring in mechanical manufacturing technology and equipment) from the Department of Mechanical Engineering of East China Institute of Textile Science and Technology in 1982.

CEO Compensation
  • Minghui's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Minghui's remuneration is higher than average for companies of similar size in China.
Management Team Tenure

Average tenure and age of the CITIC Securities management team in years:

2.4
Average Tenure
51
Average Age
  • The tenure for the CITIC Securities management team is about average.
Management Team

Youjun Zhang

TITLE
Chairman of the Board
COMPENSATION
CN¥5M
AGE
54

Minghui Yang

TITLE
President & Executive Director
COMPENSATION
CN¥10M
AGE
55
TENURE
3.7 yrs

Jiong Li

TITLE
CFO & Treasurer
COMPENSATION
CN¥7M
AGE
49
TENURE
0.8 yrs

Yao Ma

TITLE
Director of Investment Banking Management Committee
COMPENSATION
CN¥12M
AGE
47

Guoming Zhang

TITLE
Compliance Officer & Administrative Head of the Compliance Dept
COMPENSATION
CN¥5M
AGE
54

Hao Zhang

TITLE
Chief Marketing Officer
COMPENSATION
CN¥8M
AGE
49
TENURE
2.3 yrs

Yongjin Li

TITLE
Head of Brokerage Development & Management Committee and GM of Zhejiang Regional Office
COMPENSATION
CN¥7M
AGE
48

Qunli Song

TITLE
Chief Engineer
COMPENSATION
CN¥4M
AGE
53
TENURE
2.4 yrs

Xinjiang Ye

TITLE
Head of the Quality Control Group
COMPENSATION
CN¥271K
AGE
54

Jianhua Jin

TITLE
Head of Equipment Manufacture Industry Team and Merger & Acquisition Line of Business
AGE
48
Board of Directors Tenure

Average tenure and age of the CITIC Securities board of directors in years:

4.1
Average Tenure
57.5
Average Age
  • The tenure for the CITIC Securities board of directors is about average.
Board of Directors

Minghui Yang

TITLE
President & Executive Director
COMPENSATION
CN¥10M
AGE
55
TENURE
4.1 yrs

Ning Li

TITLE
Senior VP of Investment Banking & Employee Representative Supervisor
AGE
34
TENURE
0.3 yrs

Xuekun Niu

TITLE
Senior VP of Planning & Finance Department and Employee Representative Supervisor
AGE
45
TENURE
0.3 yrs

Ke Liu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥156K
AGE
60
TENURE
4.1 yrs

Youjun Zhang

TITLE
Chairman of the Board
COMPENSATION
CN¥5M
AGE
54
TENURE
4.1 yrs

Zhonghui Zhou

TITLE
Independent Non-Executive Director
AGE
72
TENURE
0.8 yrs

Jia He

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥156K
AGE
63
TENURE
4.1 yrs

Shouying Liu

TITLE
Independent Non Executive Director
AGE
55
TENURE
0.2 yrs

Zhao Guo

TITLE
Non Employee Representative Supervisor
COMPENSATION
CN¥100K
AGE
62
TENURE
20.4 yrs

Geping Rao

TITLE
Non Employee Representative Supervisor
COMPENSATION
CN¥156K
AGE
71
TENURE
4.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CN¥) Value (CN¥)
X
Management checks
We assess CITIC Securities'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. CITIC Securities 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.

600030 News

Simply Wall St News

600030 Company Info

Description

CITIC Securities Company Limited provides various financial products and services in Mainland China and internationally. It operates in Investment Banking, Brokerage, Trading, Asset Management, and Others segments. The company offers investment banking services, including equity and debt financing, and asset-backed securitization, as well as fund raising and financial advisory services to a range of enterprises and other institutional clients. It is also involved in broking of securities and futures; distribution of financial products; and trading and market-making of equity products, fixed income products and derivatives, margin financing and securities lending business, alternative investment, and commodities business. In addition, the company offers asset management services, such as CAM, TAM, SAM, fund management, and other investment accounts management; and private equity investment and other services; and custody and research services. Further, it provides institutional brokerage, investment banking, fixed income, and derivatives and alternative investment services; investment advisory and management, investment consultancy, fiduciary management, fund, real estate, business training, and financial products and securities investment services. Additionally, the company offers trade and trade agency, storage, and equipment leasing services; catering, accommodation, convention, and exhibition services; micro financing, finance outsourcing, bond issuance, offshore portfolio hedge and investment fund, fund distribution, leveraged foreign exchange and other transactions, cash transactions, property management and leasing, and other services. It is also involved in the computer hardware and software technology development, technical consulting, technical service, system integration and sales, data processing, and research development and financial products consulting activities. The company was founded in 1995 and is based in Shenzhen, the People’s Republic of China.

Details
Name: CITIC Securities Company Limited
600030
Exchange: SHSE
Founded: 1995
CN¥287,272,372,457
12,116,908,400
Website: http://www.cs.ecitic.com
Address: CITIC Securities Company Limited
CITIC Securities Tower,
16th Floor,
Shenzhen,
Guangdong Province, 518048,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SHSE 600030 Domestic Shares Shanghai Stock Exchange CN CNY 06. Jan 2003
XSSC 600030 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 06. Jan 2003
OTCPK CIIH.Y ADR Pink Sheets LLC US USD 17. Dec 2012
SEHK 6030 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 06. Oct 2011
OTCPK CIIH.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 06. Oct 2011
DB CI9 Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 06. Oct 2011
SHSC 6030 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 06. Oct 2011
SZSC 6030 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 06. Oct 2011
Number of employees
Current staff
Staff numbers
15,846
CITIC Securities employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/02/20 14:50
End of day share price update: 2020/02/20 00:00
Last estimates confirmation: 2020/02/17
Last earnings filing: 2020/01/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.