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CMBC Capital Holdings

DB:4C3
Snowflake Description

Proven track record with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4C3
DB
HK$7B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

CMBC Capital Holdings Limited, an investment holding company, provides loan financing services primarily in Hong Kong. The last earnings update was 11 days ago. More info.


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4C3 Share Price and Events
7 Day Returns
6.7%
DB:4C3
-6.8%
DE Capital Markets
-2.7%
DE Market
1 Year Returns
-48.4%
DB:4C3
-11.8%
DE Capital Markets
-20.4%
DE Market
4C3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CMBC Capital Holdings (4C3) 6.7% 14.3% 6.7% -48.4% - -
DE Capital Markets -6.8% -21.9% -18% -11.8% -29% -57.8%
DE Market -2.7% -18.4% -26.7% -20.4% -25.9% -30.4%
1 Year Return vs Industry and Market
  • 4C3 underperformed the Capital Markets industry which returned -11.8% over the past year.
  • 4C3 underperformed the Market in Germany which returned -20.4% over the past year.
Price Volatility
4C3
Industry
5yr Volatility vs Market

4C3 Value

 Is CMBC Capital Holdings 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 CMBC Capital Holdings 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 CMBC Capital Holdings.

DB:4C3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= HK$0.04 * 12.8%
HK$0.01
Book Value of Equity per Share Median Book Value from the past 5 years. HK$0.04
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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:4C3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 25%) (131.6%))
1.324
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.32
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.324 * 6.07%)
7.65%

Discounted Cash Flow Calculation for DB:4C3 using Excess Returns Model Model

The calculations below outline how an intrinsic value for CMBC Capital Holdings 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:4C3 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.8% – 7.65%) * HK$0.04)
HK$0.00
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= HK$0.00 / (7.65% - -0.39%)
HK$0.03
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= HK$0.04 + HK$0.03
HK$0.07
DB:4C3 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:4C3 represents 0.11034x of SEHK:1141
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11034x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 0.07 x 0.11034
€0.01
Value per share (EUR) From above. €0.01
Current discount Discount to share price of €0.02
= -1 x (€0.02 - €0.01) / €0.01
-98.4%

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

  • The current share price of CMBC Capital Holdings 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 CMBC Capital Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CMBC Capital Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:4C3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in HKD HK$0.01
SEHK:1141 Share Price ** SEHK (2020-04-02) in HKD HK$0.15
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 22.18x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.15x

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

** Primary Listing of CMBC Capital Holdings.

DB:4C3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1141 Share Price ÷ EPS (both in HKD)

= 0.15 ÷ 0.01

19.39x

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

  • CMBC Capital Holdings is good value based on earnings compared to the DE Capital Markets industry average.
  • CMBC Capital Holdings is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does CMBC Capital Holdings's expected growth come at a high price?
Raw Data
DB:4C3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for CMBC Capital Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on CMBC Capital Holdings's assets?
Raw Data
DB:4C3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in HKD HK$0.05
SEHK:1141 Share Price * SEHK (2020-04-02) in HKD HK$0.15
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:4C3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1141 Share Price ÷ Book Value per Share (both in HKD)

= 0.15 ÷ 0.05

3.11x

* Primary Listing of CMBC Capital Holdings.

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

  • CMBC Capital Holdings is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess CMBC Capital Holdings'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. CMBC Capital Holdings has a total score of 1/6, 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.

4C3 Future Performance

 How is CMBC Capital Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as CMBC Capital Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
40%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CMBC Capital Holdings expected to grow at an attractive rate?
  • Unable to compare CMBC Capital Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare CMBC Capital Holdings's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare CMBC Capital Holdings's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:4C3 Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 40%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 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
DB:4C3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:4C3 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
DB:4C3 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-12-31 747 357
2019-09-30 665 326
2019-06-30 576 1,204 295
2019-03-31 520 -566 270
2018-12-31 464 -2,336 245
2017-12-31 278 -2,361 158
2017-09-30 -30 -426 -982
2017-06-30 -8 -319 -1,015
2017-03-31 13 -212 -1,048

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if CMBC Capital Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if CMBC Capital Holdings is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:4C3 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 0 Analyst Estimates (S&P Global) See Below

All data from CMBC Capital Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:4C3 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
DB:4C3 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-12-31 0.01
2019-09-30 0.01
2019-06-30 0.01
2019-03-31 0.01
2018-12-31 0.01
2017-12-31 0.00
2017-09-30 -0.04
2017-06-30 -0.05
2017-03-31 -0.07

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if CMBC Capital Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Check out CMBC Capital Holdings's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.
  2. CMBC Capital Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. CMBC Capital Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess CMBC Capital Holdings'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 Germany 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.
CMBC Capital Holdings has a total score of 0/6, 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.

4C3 Past Performance

  How has CMBC Capital Holdings 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 CMBC Capital Holdings'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.
  • CMBC Capital Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • CMBC Capital Holdings's 1-year earnings growth exceeds its 5-year average (45.5% vs 21.7%)
  • CMBC Capital Holdings's earnings growth has exceeded the DE Capital Markets industry average in the past year (45.5% vs 5.7%).
Earnings and Revenue History
CMBC Capital Holdings'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 CMBC Capital Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:4C3 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 747.21 356.86 121.16
2019-09-30 664.68 325.98 134.29
2019-06-30 575.83 295.11 149.13
2019-03-31 519.89 270.15 143.85
2018-12-31 463.94 245.20 138.58
2017-12-31 278.07 157.82 99.74
2017-09-30 -29.54 -981.93 101.76
2017-06-30 -8.47 -1,014.98 99.34
2017-03-31 12.61 -1,048.04 96.92
2016-12-31 330.23 -1,233.39 90.72
2016-09-30 647.85 -1,418.74 84.52
2016-06-30 340.74 -1,645.67 102.81
2016-03-31 33.63 -1,872.59 121.09
2015-12-31 -197.66 -1,321.44 111.27
2015-09-30 -428.94 -770.28 101.46
2015-06-30 -69.33 -141.61 84.20
2015-03-31 290.28 487.06 66.94
2014-12-31 755.81 865.78 49.60
2014-09-30 1,221.34 1,244.50 32.27
2014-06-30 1,291.94 830.79 32.27
2014-03-31 1,362.54 417.08 32.27
2013-12-31 1,101.87 235.50 28.31
2013-09-30 841.20 53.92 24.34
2013-06-30 793.27 -7.47 23.66

*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.
  • CMBC Capital Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CMBC Capital Holdings used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if CMBC Capital Holdings 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 CMBC Capital Holdings'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.
CMBC Capital Holdings has a total score of 4/6, 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.

4C3 Health

 How is CMBC Capital Holdings'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 CMBC Capital Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CMBC Capital Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CMBC Capital Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CMBC Capital Holdings'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 1.2x 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 CMBC Capital Holdings Company Filings, last reported 3 months ago.

DB:4C3 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,222.24 8,978.89 8,276.95
2019-09-30 2,222.24 8,978.89 8,276.95
2019-06-30 2,129.54 7,854.85 6,509.82
2019-03-31 2,129.54 7,854.85 6,509.82
2018-12-31 1,876.08 7,973.24 5,084.66
2017-12-31 1,280.19 3,514.60 1,947.38
2017-09-30 1,239.76 1,226.06 939.91
2017-06-30 1,239.76 1,226.06 939.91
2017-03-31 1,148.85 398.04 587.09
2016-12-31 1,148.85 398.04 587.09
2016-09-30 1,944.58 672.81 693.19
2016-06-30 1,944.58 672.81 693.19
2016-03-31 1,417.19 553.37 646.21
2015-12-31 1,417.19 553.37 646.21
2015-09-30 2,229.76 146.72 643.98
2015-06-30 2,229.76 146.72 643.98
2015-03-31 2,328.74 304.50 2,220.73
2014-12-31 2,328.74 304.50 2,220.73
2014-09-30 2,408.68 215.86 2,412.82
2014-06-30 2,408.68 215.86 2,412.82
2014-03-31 1,593.43 265.07 1,615.49
2013-12-31 1,593.43 265.07 1,615.49
2013-09-30 1,118.48 150.51 1,001.56
2013-06-30 1,118.48 150.51 1,001.56
  • CMBC Capital Holdings's level of debt (404%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (13.1% vs 404% today).
  • Debt is not well covered by operating cash flow (13.4%, less than 20% of total debt).
  • Unable to confirm if the interest payments on CMBC Capital Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess CMBC Capital Holdings'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. CMBC Capital Holdings has a total score of 2/6, 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.

4C3 Dividends

 What is CMBC Capital Holdings'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
2.28%
Current annual income from CMBC Capital Holdings dividends.
If you bought €2,000 of CMBC Capital Holdings shares you are expected to receive €46 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?
  • CMBC Capital Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • CMBC Capital Holdings's dividend is below the markets top 25% of dividend payers in Germany (4.86%).
Upcoming dividend payment

Purchase CMBC Capital Holdings before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:4C3 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:4C3 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
DB:4C3 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2020-03-23 0.003 2.416
2019-05-28 0.002 1.331

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

  • It is too early to tell whether CMBC Capital Holdings has stable dividend payments.
  • CMBC Capital Holdings only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of CMBC Capital Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess CMBC Capital Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 CMBC Capital Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CMBC Capital Holdings has a total score of 2/6, see the detailed checks below.


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

4C3 Management

 What is the CEO of CMBC Capital Holdings'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
Zhisuo Ding
COMPENSATION HK$3,900,000
AGE 53
CEO Bio

Mr. Ding Zhisuo has been General Manager at CMBC Capital Holdings Limited since November 7, 2017 and its Executive Director since October 26, 2017. Mr. Ding has extensive experience in investment banking industry. From July 1994 to January 2001, he served as a senior staff, deputy director and director of the Management Information Department of Industrial and Commercial Bank of China Limited. From January 2001 to September 2007 and from December 2011 to July 2017, he worked for China Huarong Asset Management Co. Ltd., where he served as the vice general manager and the general manager at the research and development department at assessment consulting department, the Shanghai office, the securities business department, the development and planning department and the operations evaluation department. From September 2007 to December 2011, he served as the general manager of Huarong Securities Co., Ltd., a subsidiary of China Huarong Asset Management Co. Ltd. He joined China Minsheng in July 2017. Mr. Ding graduated from the Chinese Academy of Social Sciences and holds a doctorate degree in economy and political science.

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

Average tenure and age of the CMBC Capital Holdings management team in years:

2.5
Average Tenure
44
Average Age
  • The tenure for the CMBC Capital Holdings management team is about average.
Management Team

Jinze Li

TITLE
Executive Chairman
COMPENSATION
HK$5M
AGE
49
TENURE
2.8 yrs

Zhisuo Ding

TITLE
GM & Executive Director
COMPENSATION
HK$4M
AGE
53

Hoi Kam Ng

TITLE
Executive Director
COMPENSATION
HK$3M
AGE
45
TENURE
2.5 yrs

Xiangli Qi

TITLE
Chief Risk Officer
AGE
43

Yi Chen

TITLE
Head of Financial Institution & Market Development
AGE
38

Jianyang Li

TITLE
Head of Securities
AGE
44

Yau Ho

TITLE
Company Secretary
AGE
42
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the CMBC Capital Holdings board of directors in years:

2.8
Average Tenure
50
Average Age
  • The average tenure for the CMBC Capital Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jinze Li

TITLE
Executive Chairman
COMPENSATION
HK$5M
AGE
49
TENURE
2.8 yrs

Zhisuo Ding

TITLE
GM & Executive Director
COMPENSATION
HK$4M
AGE
53
TENURE
2.5 yrs

Hoi Kam Ng

TITLE
Executive Director
COMPENSATION
HK$3M
AGE
45
TENURE
2.5 yrs

Zhaohui Liao

TITLE
Non-Executive Director
COMPENSATION
HK$300K
AGE
51
TENURE
2.8 yrs

Dannis Lee

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
49
TENURE
2.8 yrs

Bin Wu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
46
TENURE
2.8 yrs

Hailong Ren

TITLE
Non-Executive Director
COMPENSATION
HK$300K
AGE
54
TENURE
2.8 yrs

Lihua Wang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
56
TENURE
2.8 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 (€)
10. Mar 20 Sell China Minsheng Banking Corp., Ltd. Company 06. Mar 20 06. Mar 20 -291,660,000 €0.01 €-3,977,575
10. Mar 20 Sell Central Wealth Group Holdings Limited Company 06. Mar 20 06. Mar 20 -1,800,000 €0.01 €-24,548
X
Management checks
We assess CMBC Capital Holdings'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. CMBC Capital Holdings 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.

4C3 News

Simply Wall St News

4C3 Company Info

Description

CMBC Capital Holdings Limited, an investment holding company, provides loan financing services primarily in Hong Kong. It operates through Securities; Investment and Financing; and Asset Management, Corporate Finance and Advisory segments. The Securities segment offers brokerage, securities margin financing, futures and options contracts dealing, and securities underwriting services. The Investment and Financing segment invests and trades in equity and debt securities, futures, bonds, and funds. The Asset Management and Advisory segment provides asset management, sponsorship, and financial advisory and arrangement services. It also offers corporate financing services. The company was formerly known as Skyway Securities Group Limited and changed its name to CMBC Capital Holdings Limited in May 2017. The company is headquartered in Kowloon, Hong Kong. CMBC Capital Holdings Limited is a subsidiary of CMBC International Investment Limited.

Details
Name: CMBC Capital Holdings Limited
4C3
Exchange: DB
Founded:
HK$819,804,230
47,674,827,729
Website: http://www.cmbccap.com
Address: CMBC Capital Holdings Limited
International Commerce Centre,
Level 66,
Kowloon,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1141 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 12. Mar 1998
DB 4C3 Ordinary Shares Deutsche Boerse AG DE EUR 12. Mar 1998
SHSC 1141 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 12. Mar 1998
SZSC 1141 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 12. Mar 1998
Number of employees
Current staff
Staff numbers
90
CMBC Capital Holdings employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 00:39
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2019/03/28
Last earnings filing: 2020/03/23
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.