Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

China International Capital

DB:CIM
Snowflake Description

Undervalued with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CIM
DB
HK$57B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

China International Capital Corporation Limited provides financial services in the People’s Republic of China and internationally. The last earnings update was 4 days ago. More info.


Add to Portfolio Compare Print
CIM Share Price and Events
7 Day Returns
5.6%
DB:CIM
-3.5%
DE Capital Markets
-3%
DE Market
1 Year Returns
-27.2%
DB:CIM
-11.3%
DE Capital Markets
-20.6%
DE Market
CIM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China International Capital (CIM) 5.6% -13.8% -15.3% -27.2% 9.2% -
DE Capital Markets -3.5% -21.2% -17.8% -11.3% -27.2% -56.6%
DE Market -3% -19.1% -26.2% -20.6% -25.6% -30.7%
1 Year Return vs Industry and Market
  • CIM underperformed the Capital Markets industry which returned -11.3% over the past year.
  • CIM underperformed the Market in Germany which returned -20.6% over the past year.
Price Volatility
CIM
Industry
5yr Volatility vs Market

CIM Value

 Is China International Capital 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 International Capital 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 International Capital.

DB:CIM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 10 analysts.
= Stable Book Value * Return on Equity
= CN¥12.99 * 10.8%
CN¥1.40
Book Value of Equity per Share Weighted future Book Value estimates from 10 analysts. CN¥12.99
Discount Rate (Cost of Equity) See below 8%
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:CIM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.46
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.457 (1 + (1- 25%) (301.51%))
1.328
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.33
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.328 * 6.33%)
8.02%

Discounted Cash Flow Calculation for DB:CIM using Excess Returns Model Model

The calculations below outline how an intrinsic value for China International Capital 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:CIM Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.8% – 8.02%) * CN¥12.99)
CN¥0.36
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥0.36 / (8.02% - -0.39%)
CN¥4.31
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥12.99 + CN¥4.31
CN¥17.3
DB:CIM Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:3908)
1.094
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥17.3 x 1.094
HK$18.93
Non-primary Listing Adjustment Factor 1 share in DB:CIM represents 0.11485x of SEHK:3908
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11485x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 18.93 x 0.11485
€2.17
Value per share (EUR) From above. €2.17
Current discount Discount to share price of €1.50
= -1 x (€1.50 - €2.17) / €2.17
31%

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

Current Discount
Amount off the current price China International Capital is available for.
Intrinsic value
31%
Share price is €1.5 vs Future cash flow value of €2.17
Current Discount Checks
For China International Capital to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China International Capital's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China International Capital's share price is below the future cash flow value, but not 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 International Capital's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China International Capital's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CIM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥0.99
SEHK:3908 Share Price ** SEHK (2020-04-02) in HKD HK$13.06
SEHK:3908 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.914 CN¥11.94
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 16.57x

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

** Primary Listing of China International Capital.

DB:CIM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3908 Share Price ÷ EPS (both in CNY)

= 11.94 ÷ 0.99

12.05x

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

  • China International Capital is good value based on earnings compared to the DE Capital Markets industry average.
  • China International Capital is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does China International Capital's expected growth come at a high price?
Raw Data
DB:CIM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
12.4%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.53x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.05x ÷ 12.4%

0.97x

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

  • China International Capital is good value based on expected growth next year.
Price based on value of assets
What value do investors place on China International Capital's assets?
Raw Data
DB:CIM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥11.05
SEHK:3908 Share Price * SEHK (2020-04-02) in HKD HK$13.06
SEHK:3908 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.914 CN¥11.94
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.66x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:CIM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3908 Share Price ÷ Book Value per Share (both in CNY)

= 11.94 ÷ 11.05

1.08x

* Primary Listing of China International Capital.

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

  • China International Capital is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess China International Capital'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. China International Capital has a total score of 5/6, 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.

CIM Future Performance

 How is China International Capital 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
12.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China International Capital expected to grow at an attractive rate?
  • China International Capital's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • China International Capital's earnings growth is positive but not above the Germany market average.
  • China International Capital's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:CIM Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:CIM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 12.4%
DB:CIM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 16.3%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 37.7%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.2%
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:CIM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months 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.
DB:CIM Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 28,495 -8,190 5,856 3
2021-12-31 21,102 -3,053 5,691 8
2020-12-31 18,198 -6,669 4,978 3
2020-04-03
DB:CIM Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 16,596 -27,658 4,182
2019-09-30 14,579 1,269 3,854
2019-06-30 14,630 -4,354 3,685
2019-03-31 13,947 11,049 3,632
2018-12-31 13,078 11,056 3,435
2018-09-30 14,088 -22,233 3,477
2018-06-30 13,670 -29,204 3,229
2018-03-31 13,217 -34,578 3,021
2017-12-31 12,003 -30,485 2,709
2017-09-30 10,771 -17,510 2,597
2017-06-30 9,599 -15,159 2,299
2017-03-31 7,868 -6,285 1,890

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China International Capital's earnings are expected to grow by 12.4% yearly, however this is not considered high growth (20% yearly).
  • China International Capital's revenue is expected to grow by 16.3% 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
DB:CIM 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 12 Analyst Estimates (S&P Global) See Below

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

DB:CIM Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.33 1.38 1.28 2.00
2021-12-31 1.35 1.55 1.14 9.00
2020-12-31 1.14 1.28 1.00 7.00
2020-04-03
DB:CIM Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 0.99
2019-09-30 0.92
2019-06-30 0.88
2019-03-31 0.87
2018-12-31 0.83
2018-09-30 0.85
2018-06-30 0.80
2018-03-31 0.76
2017-12-31 0.76
2017-09-30 0.83
2017-06-30 0.84
2017-03-31 0.82

*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 International Capital is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess China International Capital'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.
China International Capital has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

CIM Past Performance

  How has China International Capital 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 International Capital'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.
  • China International Capital has delivered over 20% year on year earnings growth in the past 5 years.
  • China International Capital's 1-year earnings growth is less than its 5-year average (21.7% vs 23.1%)
  • China International Capital's earnings growth has exceeded the DE Capital Markets industry average in the past year (21.7% vs 5.7%).
Earnings and Revenue History
China International Capital'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 International Capital Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CIM 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 16,596.37 4,181.72 8,104.15
2019-09-30 14,579.04 3,853.76 7,024.44
2019-06-30 14,630.27 3,684.69 7,449.33
2019-03-31 13,947.41 3,632.12 7,020.13
2018-12-31 13,077.51 3,435.16 7,008.66
2018-09-30 14,087.94 3,476.85 6,449.35
2018-06-30 13,669.88 3,229.46 7,103.75
2018-03-31 13,216.78 3,020.73 6,362.71
2017-12-31 12,002.74 2,709.35 6,424.13
2017-09-30 10,771.32 2,597.14 4,298.28
2017-06-30 9,598.56 2,299.28 5,351.40
2017-03-31 7,868.48 1,890.18 3,607.09
2016-12-31 7,545.37 1,763.26 4,298.28
2016-09-30 6,421.23 1,513.22 1,134.47
2016-06-30 6,579.15 1,334.30 3,651.31
2016-03-31 7,481.56 1,626.53 4,125.39
2015-12-31 8,383.96 1,918.76 4,599.48
2015-09-30 8,060.40 1,900.51 4,415.54
2015-06-30 7,736.84 1,882.26 4,231.61
2015-03-31 6,561.61 1,500.36 3,660.12
2014-12-31 5,386.38 1,118.45 3,088.63
2014-09-30 4,695.91 833.82 4,303.17
2014-06-30 3,887.07 549.18 3,356.03
2014-03-31 3,634.74 459.65 2,762.24
2013-12-31 3,382.42 370.11 2,168.46

*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 International Capital has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China International Capital used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if China International Capital 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 International Capital'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.
China International Capital 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.

CIM Health

 How is China International Capital'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 International Capital's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China International Capital is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China International Capital's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China International Capital'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 2.1x 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 International Capital Company Filings, last reported 3 months ago.

DB:CIM Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 48,531.54 155,794.72 284,676.98
2019-09-30 45,195.93 149,703.50 222,678.48
2019-06-30 43,655.35 153,653.90 270,193.93
2019-03-31 43,226.45 140,370.17 220,056.21
2018-12-31 42,376.74 136,630.03 233,451.18
2018-09-30 41,541.27 121,500.71 180,194.64
2018-06-30 40,134.42 115,911.22 214,303.13
2018-03-31 39,666.09 110,830.19 192,956.49
2017-12-31 36,892.44 104,954.28 177,254.97
2017-09-30 36,328.50 91,229.37 143,093.34
2017-06-30 35,579.80 73,129.28 151,936.14
2017-03-31 18,496.76 32,293.33 88,038.40
2016-12-31 18,496.76 32,291.68 88,038.40
2016-09-30
2016-06-30 17,067.88 37,015.18 95,094.18
2016-03-31 17,067.88 37,015.18 95,094.18
2015-12-31 16,442.00 26,126.58 80,487.56
2015-09-30 16,442.00 26,126.58 80,487.56
2015-06-30 10,156.50 22,521.89 75,904.46
2015-03-31 10,156.50 22,521.89 75,904.46
2014-12-31 7,992.25 15,537.67 38,511.30
2014-09-30 7,992.25 15,537.67 38,511.30
2014-06-30 7,277.47 15,773.82 28,268.32
2014-03-31 7,277.47 15,773.82 28,268.32
2013-12-31 6,866.82 14,156.21 25,140.38
  • China International Capital's level of debt (321%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (194.8% vs 321% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on China International Capital's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess China International Capital'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 International Capital 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.

CIM Dividends

 What is China International Capital'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
1.34%
Current annual income from China International Capital dividends. Estimated to be 2.23% next year.
If you bought €2,000 of China International Capital shares you are expected to receive €27 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 International Capital's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.69%).
  • China International Capital's dividend is below the markets top 25% of dividend payers in Germany (4.85%).
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:CIM 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
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 318 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 4.8%

Industry and Market average data is calculated daily.

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

DB:CIM Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.28 2.00
2021-12-31 0.29 11.00
2020-12-31 0.24 10.00
2020-04-03
DB:CIM Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-05-28 0.160 1.226
2018-03-23 0.160 1.226
2017-06-12 0.160 1.280

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

  • Whilst dividend payments have been stable, China International Capital has been paying a dividend for less than 10 years.
  • China International Capital has only been paying a dividend for 3 years, and since then there has been no growth.
Current Payout to shareholders
What portion of China International Capital's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (6.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.7x coverage).
X
Income/ dividend checks
We assess China International Capital'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 China International Capital afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China International Capital 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.

CIM Management

 What is the CEO of China International Capital'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
Zhaohui Huang
AGE 55
TENURE AS CEO 0.3 years
CEO Bio

Mr. Zhaohui Huang serves as Chief Executive Officer of China International Capital Corporation Ltd. since December 30, 2019 and Executive Director since February 17, 2020. Mr. Huang had been Head of the Investment Banking Department of China International Capital Corporation Limited since April 2013. Mr. Huang served as a Department Head of the Headquarters of China Construction Bank and Adviser at the Investment Banking Department of the New York Headquarters of Morgan Stanley. He joined China International Capital in February 1998 and held several positions, including the Deputy Head and Co-Head of the Investment Banking Department. Prior to 1998, he joined China Construction Bank Corporation and served as a clerk of the Ningbo branch office, an Assistant Research Officer of Department of Investment Research, a Senior Economist of Department of Real Estate Financing, Deputy Director of Department of International Business and Director of the secretariat of the general administration office from July 1988 to January 1998. He serves as a Director of CICC HK Securities. He served as an Independent Director at Sichuan Changhong Electric Co. Ltd. He served as an Independent Director of Sichuan Changhong Electric Co. Ltd. since June 2005. Mr. Huang obtained a bachelor’s degree in physics from Wuhan University in July 1985 and a master’s degree in economics from Renmin University of China in July 1988.

CEO Compensation
  • Insufficient data for Zhaohui to compare compensation growth.
  • Insufficient data for Zhaohui to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the China International Capital management team in years:

5
Average Tenure
53
Average Age
  • The average tenure for the China International Capital management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Zhaohui Huang

TITLE
CEO & Executive Director
AGE
55
TENURE
0.3 yrs

King Fung Wong

TITLE
Chief Financial Officer
AGE
50
TENURE
3.2 yrs

Gang Chu

TITLE
Chief Operating Officer
AGE
55
TENURE
5 yrs

Xu Lu

TITLE
CTO & Head of Information Technology Department
AGE
65
TENURE
5 yrs

Gang Chen

TITLE
Chief Compliance Officer
AGE
47
TENURE
3.7 yrs

Ding Wei

TITLE
MD and Head of Private Equity Investment Business & Investment Management Business
AGE
59

Bo Wu

TITLE
Head of Wealth Management Department
AGE
42
TENURE
4.9 yrs

Haizhou Huang

TITLE
Head of the Equities Department
AGE
56
TENURE
6.9 yrs

Hong Liang

TITLE
Chief Economist & Head of the Research Department
AGE
50
TENURE
6.9 yrs

Qiang Cheng

TITLE
Head of the FICC Department
AGE
51
TENURE
5 yrs
Board of Directors Tenure

Average tenure and age of the China International Capital board of directors in years:

0.4
Average Tenure
54.5
Average Age
  • The average tenure for the China International Capital board of directors is less than 3 years, this suggests a new board.
Board of Directors

Rujun Shen

TITLE
Non-Executive Chairman of the Board
AGE
55
TENURE
0.7 yrs

Zhaohui Huang

TITLE
CEO & Executive Director
AGE
55
TENURE
0.2 yrs

Francis Siu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥550K
AGE
65
TENURE
4.9 yrs

Sheng Lin Ben

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥517K
AGE
53
TENURE
4.9 yrs

Li Liu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥536K
AGE
64
TENURE
3.8 yrs

Tao Gao

TITLE
Chairman of the Supervisory Committee
AGE
54
TENURE
2.8 yrs

Peter Nolan

TITLE
Independent Non-Executive Director
AGE
70
TENURE
0.2 yrs

Lianhua Xiong

TITLE
Non-Executive Director
AGE
52
TENURE
0.2 yrs

Lixia Tan

TITLE
Non-Executive Director
AGE
48
TENURE
0.2 yrs

Wenwu Duan

TITLE
Non-Executive Director
AGE
49
TENURE
0.2 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 (€)
18. Dec 19 Sell UBS Asset Management Company 13. Dec 19 13. Dec 19 -1,646,400 €1.64 €-2,694,633
10. Dec 19 Buy UBS Asset Management Company 05. Dec 19 05. Dec 19 13,892,000 €1.54 €21,413,521
04. Dec 19 Buy C.M. Capital Advisors Company 29. Nov 19 29. Nov 19 990,000 €1.56 €1,543,147
04. Dec 19 Buy C.M. Capital Advisors Company 02. Dec 19 02. Dec 19 3,384,400 €1.57 €5,314,392
03. Dec 19 Buy C.M. Capital Advisors Company 28. Nov 19 28. Nov 19 425,600 €1.57 €669,710
22. May 19 Buy C.M. Capital Advisors Company 17. May 19 17. May 19 408,400 €1.75 €716,469
27. May 19 Buy Mingjian Bi Individual 22. May 19 22. May 19 684,160 €1.72 €1,179,731
22. May 19 Buy Mou-Daid Cha Individual 17. May 19 17. May 19 2,500,000 €1.75 €4,385,826
21. May 19 Buy Mou-Daid Cha Individual 16. May 19 16. May 19 98,400 €1.77 €173,760
08. May 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 03. May 19 03. May 19 -545,315 €1.96 €-1,067,159
11. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 08. Apr 19 08. Apr 19 -15,470,137 €2.09 €-32,319,691
11. Apr 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 08. Apr 19 08. Apr 19 -630,402 €2.09 €-1,317,015
11. Apr 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 08. Apr 19 08. Apr 19 9,112,535 €2.09 €19,037,602
11. Apr 19 Buy J.P. Morgan Asset Management, Inc. Company 08. Apr 19 08. Apr 19 1,600 €2.09 €3,343
10. Apr 19 Sell TPG Capital, L.P. Company 04. Apr 19 04. Apr 19 -128,812,290 €2.11 €-271,737,422
10. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 05. Apr 19 05. Apr 19 2,001,992 €2.10 €4,211,786
X
Management checks
We assess China International Capital'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 International Capital 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.

CIM News

Simply Wall St News

CIM Company Info

Description

China International Capital Corporation Limited provides financial services in the People’s Republic of China and internationally. The company operates in six segments: Investment Banking; Equities; Fixed Income, Commodities, and Currencies; Investment Management; Wealth Management; and CISC. The Investment Banking segment offers investment banking services, including equity financing, debt and structured financing, and financial advisory services, as well as National Equities Exchange and Quotations services. The Equity segment provides a range of equity sales and trading services, such as brokerage, capital-based intermediary, and product services to financial institutions, corporations, governmental entities, and other investors. The Fixed Income, Commodities, and Currencies segment trades in financial products comprising fixed-income, equities, currencies, and commodities product; and offers product structuring, fixed income distribution, and futures brokerage services. The Investment Management segment designs and offers a range of asset management products and services for domestic and overseas investors; and manages mutual and private equity funds, as well as funds of funds. The Wealth Management segment provides a range of advisory, transactional, capital-based intermediary, and product services to high-net-worth individuals, family offices, and corporate clients. The CISC segment is involved in the securities brokerage, investment consulting, financial advisory, securities underwriting and sponsorship, securities proprietary trading, asset management, margin financing and securities lending, distribution of financial products, and other business activities. China International Capital Corporation Limited was founded in 1995 and is headquartered in Beijing, the People’s Republic of China.

Details
Name: China International Capital Corporation Limited
CIM
Exchange: DB
Founded: 1995
HK$6,766,206,148
4,368,667,868
Website: http://www.cicc.com
Address: China International Capital Corporation Limited
China World Office 2,
27th and 28th Floor,
Beijing,
100004,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3908 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 09. Nov 2015
OTCPK CNIC.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 09. Nov 2015
DB CIM Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 09. Nov 2015
SHSC 3908 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 09. Nov 2015
SZSC 3908 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 09. Nov 2015
Number of employees
Current staff
Staff numbers
8,030
China International Capital employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 03:31
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/03/30
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.