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China Development Bank Financial Leasing

DB:2C6
Snowflake Description

Very undervalued average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2C6
DB
HK$15B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

China Development Bank Financial Leasing Co., Ltd., together with its subsidiaries, engages in the leasing business in the People’s Republic of China. The last earnings update was 44 days ago. More info.


Add to Portfolio Compare Print
  • China Development Bank Financial Leasing has significant price volatility in the past 3 months.
2C6 Share Price and Events
7 Day Returns
-12.1%
DB:2C6
5.3%
DE Diversified Financial
1.2%
DE Market
1 Year Returns
-6.4%
DB:2C6
-0.5%
DE Diversified Financial
0.4%
DE Market
2C6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Development Bank Financial Leasing (2C6) -12.1% -33.4% -26.4% -6.4% -38.5% -
DE Diversified Financial 5.3% 5.7% -7.1% -0.5% 72.6% 328.3%
DE Market 1.2% -1.3% -0.9% 0.4% 6.9% 24.4%
1 Year Return vs Industry and Market
  • 2C6 underperformed the Diversified Financial industry which returned -0.5% over the past year.
  • 2C6 underperformed the Market in Germany which returned 0.4% over the past year.
Price Volatility
2C6
Industry
5yr Volatility vs Market

2C6 Value

 Is China Development Bank Financial Leasing 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 China Development Bank Financial Leasing 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 China Development Bank Financial Leasing.

DB:2C6 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
= CN¥1.82 * 8.5%
CN¥0.15
Book Value of Equity per Share Median Book Value from the past 5 years. CN¥1.82
Discount Rate (Cost of Equity) See below 5.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:2C6
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.719 (1 + (1- 25%) (1465.95%))
0.859
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.859 * 5.96%)
5.34%

Discounted Cash Flow Calculation for DB:2C6 using Excess Returns Model Model

The calculations below outline how an intrinsic value for China Development Bank Financial Leasing 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.

DB:2C6 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.5% – 5.34%) * CN¥1.82)
CN¥0.06
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥0.06 / (5.34% - 0.23%)
CN¥1.13
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥1.82 + CN¥1.13
CN¥2.94
DB:2C6 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1606)
1.107
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥2.94 x 1.107
HK$3.26
Non-primary Listing Adjustment Factor 1 share in DB:2C6 represents 0.11008x of SEHK:1606
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11008x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 3.26 x 0.11008
€0.36
Value per share (EUR) From above. €0.36
Current discount Discount to share price of €0.13
= -1 x (€0.13 - €0.36) / €0.36
63.4%

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

Current Discount
Amount off the current price China Development Bank Financial Leasing is available for.
Intrinsic value
>50%
Share price is €0.131 vs Future cash flow value of €0.35837
Current Discount Checks
For China Development Bank Financial Leasing to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Development Bank Financial Leasing's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China Development Bank Financial Leasing'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 China Development Bank Financial Leasing's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Development Bank Financial Leasing's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:2C6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CNY CN¥0.22
SEHK:1606 Share Price ** SEHK (2019-10-11) in HKD HK$1.19
SEHK:1606 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.904 CN¥1.08
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.43x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.64x

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

** Primary Listing of China Development Bank Financial Leasing.

DB:2C6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1606 Share Price ÷ EPS (both in CNY)

= 1.08 ÷ 0.22

4.94x

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

  • China Development Bank Financial Leasing is good value based on earnings compared to the DE Diversified Financial industry average.
  • China Development Bank Financial Leasing is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does China Development Bank Financial Leasing's expected growth come at a high price?
Raw Data
DB:2C6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
8.2%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.79x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

DB:2C6 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.94x ÷ 8.2%

0.61x

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

  • China Development Bank Financial Leasing is good value based on expected growth next year.
Price based on value of assets
What value do investors place on China Development Bank Financial Leasing's assets?
Raw Data
DB:2C6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CNY CN¥1.90
SEHK:1606 Share Price * SEHK (2019-10-11) in HKD HK$1.19
SEHK:1606 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.904 CN¥1.08
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.72x
DB:2C6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1606 Share Price ÷ Book Value per Share (both in CNY)

= 1.08 ÷ 1.90

0.57x

* Primary Listing of China Development Bank Financial Leasing.

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

  • China Development Bank Financial Leasing is good value based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess China Development Bank Financial Leasing'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 Diversified Financial 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 Diversified Financial industry average (and greater than 0)? (1 check)
  5. China Development Bank Financial Leasing 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.

2C6 Future Performance

 How is China Development Bank Financial Leasing expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
8.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Development Bank Financial Leasing expected to grow at an attractive rate?
  • China Development Bank Financial Leasing's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • China Development Bank Financial Leasing's earnings growth is positive but not above the Germany market average.
  • China Development Bank Financial Leasing's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:2C6 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:2C6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 8.2%
DB:2C6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 26.4%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.9%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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
DB:2C6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:2C6 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 20,810 8,740 3,276 1
2020-12-31 19,227 15,055 3,117 1
2019-12-31 16,694 9,668 2,701 1
2019-10-11
DB:2C6 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-06-30 8,453 2,772 2,750
2019-03-31 7,909 12,857 2,628
2018-12-31 7,365 22,943 2,507
2018-09-30 7,147 15,350 2,231
2018-06-30 6,862 7,757 1,955
2018-03-31 7,019 3,930 2,043
2017-12-31 7,177 104 2,131
2017-09-30 6,482 2,879 1,941
2017-06-30 5,788 5,655 1,752
2017-03-31 5,444 4,870 1,657
2016-12-31 5,101 4,085 1,561
2016-09-30 4,719 8,489 1,544

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Development Bank Financial Leasing's earnings are expected to grow by 8.2% yearly, however this is not considered high growth (20% yearly).
  • China Development Bank Financial Leasing's revenue is expected to grow significantly at over 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
DB:2C6 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from China Development Bank Financial Leasing Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2C6 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.26 0.26 0.26 1.00
2020-12-31 0.25 0.25 0.25 1.00
2019-12-31 0.21 0.21 0.21 1.00
2019-10-11
DB:2C6 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-06-30 0.22
2019-03-31 0.21
2018-12-31 0.20
2018-09-30 0.18
2018-06-30 0.15
2018-03-31 0.16
2017-12-31 0.17
2017-09-30 0.15
2017-06-30 0.14
2017-03-31 0.14
2016-12-31 0.14
2016-09-30 0.15

*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.
  • China Development Bank Financial Leasing is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess China Development Bank Financial Leasing'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
China Development Bank Financial Leasing has a total score of 3/6, 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.

2C6 Past Performance

  How has China Development Bank Financial Leasing 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 China Development Bank Financial Leasing's growth in the last year to its industry (Diversified Financial).
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.
  • China Development Bank Financial Leasing's year on year earnings growth rate has been positive over the past 5 years.
  • China Development Bank Financial Leasing's 1-year earnings growth exceeds its 5-year average (40.6% vs 16.8%)
  • China Development Bank Financial Leasing's earnings growth has exceeded the Europe Diversified Financial industry average in the past year (40.6% vs 3.5%).
Earnings and Revenue History
China Development Bank Financial Leasing'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 China Development Bank Financial Leasing Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2C6 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 8,452.53 2,749.79 567.13
2019-03-31 7,908.57 2,628.39 604.95
2018-12-31 7,364.61 2,506.98 642.76
2018-09-30 7,146.60 2,231.14 639.51
2018-06-30 6,861.64 1,955.29 636.25
2018-03-31 7,019.24 2,043.13 563.54
2017-12-31 7,176.85 2,130.96 490.83
2017-09-30 6,482.30 1,941.38 454.01
2017-06-30 5,787.74 1,751.80 417.19
2017-03-31 5,444.46 1,656.57 386.82
2016-12-31 5,101.18 1,561.34 356.46
2016-09-30 4,719.37 1,544.17 328.65
2016-06-30 3,993.72 1,146.06 251.78
2016-03-31 3,925.08 1,099.28 245.63
2015-12-31 3,856.44 1,052.51 239.47
2015-09-30 4,428.14 1,572.24 222.07
2014-12-31 4,720.48 1,916.06 217.84
2013-12-31 5,437.81 1,886.76 219.57

*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.
  • China Development Bank Financial Leasing has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Development Bank Financial Leasing used its assets less efficiently than the DE Diversified Financial industry average last year based on Return on Assets.
  • Unable to establish if China Development Bank Financial Leasing 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 China Development Bank Financial Leasing'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 Diversified Financial 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.
China Development Bank Financial Leasing has a total score of 3/6, 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.

2C6 Health

 How is China Development Bank Financial Leasing'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 China Development Bank Financial Leasing's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Development Bank Financial Leasing is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Development Bank Financial Leasing's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China Development Bank Financial Leasing'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.9x 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 China Development Bank Financial Leasing Company Filings, last reported 3 months ago.

DB:2C6 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 23,979.14 199,162.41 19,763.22
2019-03-31 23,979.14 199,162.41 19,763.22
2018-12-31 24,203.03 196,945.96 25,453.78
2018-09-30 24,203.03 196,945.96 25,453.78
2018-06-30 22,965.59 171,226.29 23,226.73
2018-03-31 22,965.59 171,226.29 23,226.73
2017-12-31 23,508.97 150,670.94 18,092.73
2017-09-30 23,508.97 150,670.94 18,092.73
2017-06-30 22,817.31 137,226.73 14,197.06
2017-03-31 22,817.31 137,226.73 14,197.06
2016-12-31 22,301.67 131,327.36 11,479.83
2016-09-30 22,301.67 131,327.36 11,479.83
2016-06-30 16,064.57 127,551.94 7,111.97
2016-03-31 16,064.57 127,551.94 7,111.97
2015-12-31 14,992.92 127,587.43 7,874.48
2015-09-30 14,605.69 114,150.55 5,162.60
2014-12-31 14,010.23 115,886.86 6,020.71
2013-12-31 12,128.79 120,305.16 12,794.13
  • China Development Bank Financial Leasing's level of debt (830.6%) 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 (903.8% vs 830.6% today).
  • Debt is not well covered by operating cash flow (1.4%, less than 20% of total debt).
  • Unable to confirm if the interest payments on China Development Bank Financial Leasing's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess China Development Bank Financial Leasing'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. China Development Bank Financial Leasing 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.

2C6 Dividends

 What is China Development Bank Financial Leasing'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
8.3%
Current annual income from China Development Bank Financial Leasing dividends. Estimated to be 10.23% next year.
If you bought €2,000 of China Development Bank Financial Leasing shares you are expected to receive €166 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?
  • China Development Bank Financial Leasing's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.48%).
  • China Development Bank Financial Leasing's dividend is above the markets top 25% of dividend payers in Germany (3.96%).
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
DB:2C6 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 1 Analyst Estimates (S&P Global) See Below
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 4%

Industry and Market average data is calculated daily.

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

DB:2C6 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.12 1.00
2020-12-31 0.11 1.00
2019-12-31 0.10 1.00
2019-10-11
DB:2C6 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-29 0.089 6.238
2019-03-28 0.089 5.726
2018-04-24 0.076 5.582
2018-03-27 0.076 5.585
2017-04-21 0.056 3.616

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

  • Whilst dividend payments have been stable, China Development Bank Financial Leasing has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but China Development Bank Financial Leasing only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of China Development Bank Financial Leasing's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x 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 China Development Bank Financial Leasing's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 China Development Bank Financial Leasing afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Development Bank Financial Leasing 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.

2C6 Management

 What is the CEO of China Development Bank Financial Leasing'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
Xuedong Wang
COMPENSATION CN¥2,153,000
AGE 56
TENURE AS CEO 5 years
CEO Bio

Mr. Xuedong Wang has been the Chief Executive Officer and Executive Director of China Development Bank Financial Leasing Co., Ltd. since October 2014. Mr. Wang serves as the Chairman of the Board of China Development Bank Financial Leasing Co., Ltd. since October 26, 2017. He is responsible for operation strategies and making major operation and decisions at China Development Bank Financial Leasing. Mr. Wang joined China Development Bank Financial Leasing in August 2014. He is the Chairman of PB Issuer Ltd. Mr. Wang served as an Assistant Engineer of the second bureau of major construction under the former State Planning Commission (Now, National Development and Reform Commission) from August 1983 to June 1988. He served as an Engineer and Deputy Head of the Second Division under the water transportation project department of the National Transportation Investment Corporation from June 1988 to March 1994. He served as the Deputy Head and Head of the second division of water transportation under the transportation credit bureau of CDB from March 1994 to January 1997. He served as the Head of the First Division under the Eastern China Credit Bureau of CDB from January 1997 to December 1999. He served as a Vice President of the Shanghai Branch of CDB from December 1999 to March 2008 and President of the Hunan Branch of CDB from March 2008 to August 2014. Mr. Wang obtained the qualification of senior engineer issued by CDB in November 1994. Mr. Wang graduated from Dalian College of Technology in Dalian, Liaoning Province, the PRC, majoring in Port Construction Engineering and obtained a Bachelor’s Degree in Engineering in July 1983. He graduated from Central University of Finance and Economics in Beijing, the PRC, majoring in Money and Banking and obtained a Master’s Degree in Economics (part-time) in August 1999.

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

Average tenure and age of the China Development Bank Financial Leasing management team in years:

3.1
Average Tenure
44
Average Age
  • The tenure for the China Development Bank Financial Leasing management team is about average.
Management Team

Xuedong Wang

TITLE
Chairman & CEO
COMPENSATION
CN¥2M
AGE
56
TENURE
5 yrs

Min Huang

TITLE
VP, Joint Company Secretary & Executive Director
COMPENSATION
CN¥2M
AGE
36
TENURE
3.8 yrs

Zhong Peng

TITLE
President
AGE
49
TENURE
1.8 yrs

Qian Feng

TITLE
Chief Financial Officer
AGE
44
TENURE
0.9 yrs

Lingzhi Zhang

TITLE
Head of Operation & Management Department and General Manager of Operation & Management Department
AGE
42

Lucas Mollan

TITLE
Chief Technical Officer
TENURE
2.4 yrs

Nianhua Peng

TITLE
Head of Legal Affairs Department and Deputy General Manager of Legal Affairs Department
AGE
43

Yongkun Shi

TITLE
Chief Risk Officer & GM of Compliance Department
AGE
47
TENURE
9.4 yrs

Qizhi Zheng

TITLE
Head of Audit Department

Zhigang Chen

TITLE
Head of General Office
Board of Directors Tenure

Average tenure and age of the China Development Bank Financial Leasing board of directors in years:

4.1
Average Tenure
55
Average Age
  • The tenure for the China Development Bank Financial Leasing board of directors is about average.
Board of Directors

Min Huang

TITLE
VP, Joint Company Secretary & Executive Director
COMPENSATION
CN¥2M
AGE
36
TENURE
4.3 yrs

Xueding Zheng

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥330K
AGE
56
TENURE
3.8 yrs

Xuedong Wang

TITLE
Chairman & CEO
COMPENSATION
CN¥2M
AGE
56

Jin Xu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥330K
AGE
61
TENURE
3.8 yrs

Xianchu Zhang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥330K
AGE
65
TENURE
3.8 yrs

Daozhen Jiang

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

Yingbao Li

TITLE
Non-Executive Director
AGE
56
TENURE
4.1 yrs

Yanzheng Lei

TITLE
Supervisor
AGE
54
TENURE
5.8 yrs

Xuemei Huang

TITLE
Employee Representative Supervisor
AGE
45
TENURE
4.4 yrs

Yongyi Ma

TITLE
External Supervisor
AGE
54
TENURE
1.7 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 (€) Value (€)
X
Management checks
We assess China Development Bank Financial Leasing'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. China Development Bank Financial Leasing 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.

2C6 News

Simply Wall St News

2C6 Company Info

Description

China Development Bank Financial Leasing Co., Ltd., together with its subsidiaries, engages in the leasing business in the People’s Republic of China. It operates through Aircraft Leasing; Infrastructure Leasing; Ship, Vehicle and Construction Machinery Leasing; and Other Leasing Business segments. The Aircraft Leasing segment engages in the acquisition, leasing, management, and sale of commercial aircraft. The Infrastructure Leasing segment is involved in the leasing of transportation, urban, and energy infrastructure. The Ship, Vehicle and Construction Machinery Leasing segment engages in the leasing of vessels, commercial vehicles, and construction machinery. The Other Leasing Business segment is involved in the leasing of commercial properties, such as plants, offices, hotels, and shops; and manufacturing equipment in various sectors, such as chemicals, papermaking, textile, coal and steel, strategic emerging industries, environmental protection industry, wind power, nuclear power, photovoltaic, and other industries. The company was formerly known as CDB Leasing Co., Ltd. and changed its name to China Development Bank Financial Leasing Co., Ltd. in September 2015. The company was founded in 1984 and is headquartered in Shenzhen, the People’s Republic of China. China Development Bank Financial Leasing Co., Ltd. is a subsidiary of China Development Bank Corporation.

Details
Name: China Development Bank Financial Leasing Co., Ltd.
2C6
Exchange: DB
Founded: 1984
HK$1,736,332,562
12,646,618,000
Website: http://www.cdb-leasing.com
Address: China Development Bank Financial Leasing Co., Ltd.
CDB Financial Center,
No. 2003 Fuzhong Third Road,
Shenzhen,
Guangdong Province, 518026,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1606 Foreign Shares - Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 11. Jul 2016
DB 2C6 Foreign Shares - Foreign Listed Deutsche Boerse AG DE EUR 11. Jul 2016
Number of employees
Current staff
Staff numbers
336
China Development Bank Financial Leasing employees.
Industry
Specialized Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/11 22:38
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/27
Last earnings filing: 2019/08/28
Last earnings reported: 2019/06/30
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.