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CITIC Resources Holdings

OTCPK:CTJH.F
Snowflake Description

Undervalued second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CTJH.F
OTCPK
HK$4B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

CITIC Resources Holdings Limited, an investment holding company, engages in the exploration, development, and production of oil and coal. The last earnings update was 18 days ago. More info.


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CTJH.F Share Price and Events
7 Day Returns
0%
OTCPK:CTJH.F
5.4%
US Trade Distributors
1.3%
US Market
1 Year Returns
-
OTCPK:CTJH.F
-8.2%
US Trade Distributors
2%
US Market
CTJH.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CITIC Resources Holdings (CTJH.F) 0% 0% 0% - - -
US Trade Distributors 5.4% 10.8% 7.3% -8.2% 38.8% 14.9%
US Market 1.3% 3.9% 3.4% 2% 37.6% 42.9%
1 Year Return vs Industry and Market
  • No trading data on CTJH.F.
  • No trading data on CTJH.F.
Price Volatility
CTJH.F
Industry
5yr Volatility vs Market

CTJH.F Value

 Is CITIC Resources 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 CITIC Resources 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 CITIC Resources Holdings.

OTCPK:CTJH.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 13.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:CTJH.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.909 (1 + (1- 25%) (142.04%))
1.588
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.59
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.588 * 6.65%)
13.29%

Discounted Cash Flow Calculation for OTCPK:CTJH.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for CITIC Resources Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

OTCPK:CTJH.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 13.29%)
2020 779.41 Est @ 5.92% 687.98
2021 818.11 Est @ 4.97% 637.44
2022 853.25 Est @ 4.29% 586.83
2023 885.89 Est @ 3.83% 537.81
2024 916.86 Est @ 3.5% 491.32
2025 946.82 Est @ 3.27% 447.85
2026 976.22 Est @ 3.11% 407.60
2027 1,005.44 Est @ 2.99% 370.55
2028 1,034.74 Est @ 2.91% 336.62
2029 1,064.32 Est @ 2.86% 305.63
Present value of next 10 years cash flows HK$4,809.00
OTCPK:CTJH.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$1,064.32 × (1 + 2.73%) ÷ (13.29% – 2.73%)
HK$10,354.81
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$10,354.81 ÷ (1 + 13.29%)10
HK$2,973.45
OTCPK:CTJH.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$4,809.00 + HK$2,973.45
HK$7,782.45
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$7,782.45 / 7,857.73
HK$0.99
OTCPK:CTJH.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:CTJH.F represents 0.15686x of SEHK:1205
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.15686x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 0.99 x 0.15686
$0.16
Value per share (USD) From above. $0.16
Current discount Discount to share price of $0.08
= -1 x ($0.08 - $0.16) / $0.16
48.5%

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

Current Discount
Amount off the current price CITIC Resources Holdings is available for.
Intrinsic value
49%
Share price is $0.08 vs Future cash flow value of $0.15536
Current Discount Checks
For CITIC Resources Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CITIC Resources Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CITIC Resources Holdings'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 CITIC Resources Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CITIC Resources Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:CTJH.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in HKD HK$0.09
SEHK:1205 Share Price ** SEHK (2019-06-19) in HKD HK$0.51
United States of America Trade Distributors Industry PE Ratio Median Figure of 41 Publicly-Listed Trade Distributors Companies 16.62x
United States of America Market PE Ratio Median Figure of 3,102 Publicly-Listed Companies 18.24x

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

** Primary Listing of CITIC Resources Holdings.

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

= SEHK:1205 Share Price ÷ EPS (both in HKD)

= 0.51 ÷ 0.09

5.43x

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

  • CITIC Resources Holdings is good value based on earnings compared to the US Trade Distributors industry average.
  • CITIC Resources Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does CITIC Resources Holdings's expected growth come at a high price?
Raw Data
OTCPK:CTJH.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
6%per year
United States of America Trade Distributors Industry PEG Ratio Median Figure of 32 Publicly-Listed Trade Distributors Companies 1x
United States of America Market PEG Ratio Median Figure of 2,140 Publicly-Listed Companies 1.51x

*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 CITIC Resources Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on CITIC Resources Holdings's assets?
Raw Data
OTCPK:CTJH.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in HKD HK$0.80
SEHK:1205 Share Price * SEHK (2019-06-19) in HKD HK$0.51
United States of America Trade Distributors Industry PB Ratio Median Figure of 53 Publicly-Listed Trade Distributors Companies 1.64x
United States of America Market PB Ratio Median Figure of 5,307 Publicly-Listed Companies 1.8x
OTCPK:CTJH.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1205 Share Price ÷ Book Value per Share (both in HKD)

= 0.51 ÷ 0.80

0.64x

* Primary Listing of CITIC Resources Holdings.

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

  • CITIC Resources Holdings is good value based on assets compared to the US Trade Distributors industry average.
X
Value checks
We assess CITIC Resources 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 Trade Distributors 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 Trade Distributors industry average (and greater than 0)? (1 check)
  5. CITIC Resources Holdings 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.

CTJH.F Future Performance

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

  • No analysts cover CITIC Resources Holdings, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CITIC Resources Holdings expected to grow at an attractive rate?
  • CITIC Resources Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • CITIC Resources Holdings's earnings growth is positive but not above the United States of America market average.
  • Unable to compare CITIC Resources Holdings's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:CTJH.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:CTJH.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 6%
United States of America Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
OTCPK:CTJH.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 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.
OTCPK:CTJH.F Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-06-30 4,111 854 738
2019-03-31 4,269 908 822
2018-12-31 4,427 962 905
2018-09-30 4,322 882 884
2018-06-30 4,217 801 862
2018-03-31 3,910 769 690
2017-12-31 3,603 736 518
2017-09-30 3,427 644 482
2017-06-30 3,251 552 446
2017-03-31 3,104 392 404
2016-12-31 2,957 233 363
2016-09-30 2,883 405 -2,395

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CITIC Resources Holdings's earnings are expected to grow by 6% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if CITIC Resources 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
OTCPK:CTJH.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from CITIC Resources Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CTJH.F Past Financials Data
Date (Data in HKD Millions) EPS *
2019-06-30 0.09
2019-03-31 0.10
2018-12-31 0.12
2018-09-30 0.11
2018-06-30 0.11
2018-03-31 0.09
2017-12-31 0.07
2017-09-30 0.06
2017-06-30 0.06
2017-03-31 0.05
2016-12-31 0.05
2016-09-30 -0.30

*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 CITIC Resources Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess CITIC Resources 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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CITIC Resources Holdings has a total score of 1/6, see the detailed checks below.

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

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

CTJH.F Past Performance

  How has CITIC Resources 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 CITIC Resources Holdings's growth in the last year to its industry (Trade Distributors).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • CITIC Resources Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • CITIC Resources Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • CITIC Resources Holdings's 1-year earnings growth is negative, it can't be compared to the US Trade Distributors industry average.
Earnings and Revenue History
CITIC Resources 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 CITIC Resources Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CTJH.F Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 4,110.51 738.18 421.52
2019-03-31 4,268.91 821.72 434.28
2018-12-31 4,427.32 905.25 447.03
2018-09-30 4,321.96 883.84 416.90
2018-06-30 4,216.61 862.42 386.77
2018-03-31 3,909.78 690.37 370.60
2017-12-31 3,602.95 518.32 354.42
2017-09-30 3,426.91 482.16 370.38
2017-06-30 3,250.87 446.00 386.33
2017-03-31 3,103.80 404.49 371.86
2016-12-31 2,956.73 362.99 357.39
2016-09-30 2,883.25 -2,394.79 350.57
2016-06-30 2,809.77 -5,152.56 343.76
2016-03-31 3,261.45 -5,628.73 366.62
2015-12-31 3,713.13 -6,104.91 389.47
2015-09-30 4,258.74 -3,449.92 410.47
2015-06-30 4,804.34 -794.92 431.47
2015-03-31 11,304.73 -285.55 477.30
2014-12-31 17,805.12 223.83 523.13
2014-09-30 25,469.08 -588.77 510.93
2014-06-30 33,133.04 -1,401.37 498.74
2014-03-31 36,226.11 -1,433.41 447.35
2013-12-31 39,319.18 -1,465.44 395.96
2013-09-30 40,779.24 -1,436.55 405.29
2013-06-30 42,239.30 -1,407.66 414.63
2013-03-31 42,493.37 -1,345.79 424.62
2012-12-31 42,747.43 -1,283.92 434.61
2012-09-30 43,683.15 378.32 1,439.56

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • CITIC Resources Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CITIC Resources Holdings used its assets more efficiently than the US Trade Distributors industry average last year based on Return on Assets.
  • It is difficult to establish if CITIC Resources Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess CITIC Resources 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 Trade Distributors industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
CITIC Resources Holdings 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.

CTJH.F Health

 How is CITIC Resources 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 CITIC Resources Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CITIC Resources Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CITIC Resources Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of CITIC Resources 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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from CITIC Resources Holdings Company Filings, last reported 2 months ago.

OTCPK:CTJH.F Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 6,184.59 5,582.76 2,050.03
2019-03-31 6,184.59 5,582.76 2,050.03
2018-12-31 6,054.02 6,216.55 1,923.36
2018-09-30 6,054.02 6,216.55 1,923.36
2018-06-30 5,946.03 6,751.20 1,680.46
2018-03-31 5,946.03 6,751.20 1,680.46
2017-12-31 5,946.95 6,988.28 1,408.70
2017-09-30 5,946.95 6,988.28 1,408.70
2017-06-30 5,393.24 7,452.01 1,477.32
2017-03-31 5,393.24 7,452.01 1,477.32
2016-12-31 4,696.29 7,527.33 1,164.02
2016-09-30 4,696.29 7,527.33 1,164.02
2016-06-30 4,079.69 7,758.33 1,232.36
2016-03-31 4,079.69 7,758.33 1,232.36
2015-12-31 4,105.32 7,805.91 1,303.23
2015-09-30 4,105.32 7,805.91 1,303.23
2015-06-30 10,102.76 8,622.20 2,100.50
2015-03-31 10,102.76 8,622.20 2,100.50
2014-12-31 10,894.37 9,173.36 3,249.45
2014-09-30 10,894.37 9,173.36 3,249.45
2014-06-30 11,158.75 9,544.00 3,802.54
2014-03-31 11,158.75 9,544.00 3,802.54
2013-12-31 11,661.38 13,618.78 6,997.07
2013-09-30 11,661.38 13,618.78 6,997.07
2013-06-30 14,082.18 10,654.08 4,976.14
2013-03-31 14,082.18 10,654.08 4,976.14
2012-12-31 13,346.71 10,070.42 8,390.28
2012-09-30 13,740.62 11,036.15 8,523.38
  • CITIC Resources Holdings's level of debt (90.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (85.5% vs 90.3% today).
  • Debt is not well covered by operating cash flow (15.3%, less than 20% of total debt).
  • Unable to confirm if the interest payments on CITIC Resources Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess CITIC Resources 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. CITIC Resources Holdings has a total score of 1/6, 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.

CTJH.F Dividends

 What is CITIC Resources 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
6.86%
Current annual income from CITIC Resources Holdings dividends.
If you bought $2,000 of CITIC Resources Holdings shares you are expected to receive $137 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • CITIC Resources Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • CITIC Resources Holdings's dividend is above the markets top 25% of dividend payers in United States of America (3.67%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:CTJH.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2013 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:CTJH.F Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-05-17 0.035 6.155
2018-03-29 0.025 3.343
2017-03-31 0.015 1.722
2017-02-20 0.015 1.382

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

  • Whilst dividend payments have been stable, CITIC Resources Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but CITIC Resources Holdings only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of CITIC Resources Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x 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 CITIC Resources Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can CITIC Resources Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CITIC Resources Holdings has a total score of 3/6, see the detailed checks below.


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

CTJH.F Management

 What is the CEO of CITIC Resources 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
Zhengang Suo
COMPENSATION HK$38,698,000
AGE 57
TENURE AS CEO 3.9 years
CEO Bio

Mr. Zhengang Suo has been Vice Chairman and Chief Executive Officer of CITIC Resources Holdings Ltd. since December 4, 2015 and October 19, 2015, respectively. Mr. Suo has been the Managing Director of CITIC United Asia Investments Company Limited ("CITIC UA") since September 2011. Mr. Suo has over 26 years' experience in business operations and development, project investment and has experience in natural resources industry. Mr. Suo served as Acting Chief Executive Officer of CITIC Resources Holdings Ltd., since October 19, 2015 until December 4, 2015. Since 1988, Mr. Suo held various positions in certain subsidiaries of CITIC Group, a controlling shareholder of the Company. He was appointed as a Director and Deputy General Manager of CITIC UA in February 2009. He also holds directorships in several other subsidiaries of CITIC UA. He has been a Non Executive Director of CITIC Dameng Holdings Limited since December 3, 2014. He serves as a Director of CITIC United Asia Investments Company Limited. He has been Executive Director of CITIC Resources Holdings Limited since joining in 2015. Mr. Suo Obtained a Bachelor of Science in Mechanical Engineering from North China University of Technology in 1984.

CEO Compensation
  • Zhengang's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Zhengang's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

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

3.9
Average Tenure
51.5
Average Age
  • The tenure for the CITIC Resources Holdings management team is about average.
Management Team

Zhengang Suo

TITLE
Vice Chairman & CEO
COMPENSATION
HK$39M
AGE
57
TENURE
3.9 yrs

Yang Sun

TITLE
Vice Chairman of the Board
COMPENSATION
HK$27M
AGE
52

Miles Sun

TITLE
Chairman of the Board
AGE
54

Wai Wong

TITLE
CFO & Company Secretary
AGE
50
TENURE
0.3 yrs

Alan Chung

TITLE
Chief Accountant & Assistant to CEO
AGE
51
TENURE
22.7 yrs

Yimin Wang

TITLE
GM of Project Management Department & Assistant to CEO
AGE
47
Board of Directors Tenure

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

4.6
Average Tenure
55.5
Average Age
  • The tenure for the CITIC Resources Holdings board of directors is about average.
Board of Directors

Zhengang Suo

TITLE
Vice Chairman & CEO
COMPENSATION
HK$39M
AGE
57
TENURE
3.8 yrs

Yang Sun

TITLE
Vice Chairman of the Board
COMPENSATION
HK$27M
AGE
52
TENURE
5.2 yrs

Miles Sun

TITLE
Chairman of the Board
AGE
54
TENURE
0.5 yrs

Anthony Fan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$546K
AGE
59
TENURE
19.7 yrs

Pei Ji Gao

TITLE
Independent Non-Executive Director
COMPENSATION
HK$516K
AGE
72
TENURE
8.3 yrs

Andrew Look

TITLE
Independent Non-Executive Director
COMPENSATION
HK$479K
AGE
54
TENURE
4 yrs

Anthony Fan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$546K
AGE
59
TENURE
19.7 yrs

Eugene Chan

TITLE
Non-Executive Director
COMPENSATION
HK$280K
AGE
53
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess CITIC Resources 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. CITIC Resources 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.

CTJH.F News

Simply Wall St News

CTJH.F Company Info

Description

CITIC Resources Holdings Limited, an investment holding company, engages in the exploration, development, and production of oil and coal. It operates in four segments: Aluminum Smelting, Coal, Import and Export of Commodities, and Crude Oil. The Aluminum smelting segment operates Portland aluminum smelter, which sources alumina and produces aluminum ingots in Australia. The Coal segment mines and sells coal in Australia. The Import and Export of Commodities segment exports various commodity products, such as aluminum ingots, coal, iron ore, alumina, and copper; and imports other commodities and manufactured goods, including steel, vehicle and industrial batteries, and tires in Australia. The Crude Oil segment explores, develops, and operates oilfields, as well as engages in the sale of oil in Indonesia and China. The company also engages in financing; oil technology development; and property holding activities, as well as provides consulting and management services. In addition, it is involved in the import of construction and building materials; and exploration and development of nickel mines. The company was incorporated in 1997 and is headquartered in Kowloon, Hong Kong. CITIC Resources Holdings Limited is a subsidiary of CITIC Group Corporation.

Details
Name: CITIC Resources Holdings Limited
CTJH.F
Exchange: OTCPK
Founded: 1997
HK$512,583,040
7,857,727,149
Website: http://resources.citic/eng/global/home.htm
Address: CITIC Resources Holdings Limited
International Commerce Centre,
67th Floor,
Kowloon,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1205 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 08. Sep 1997
OTCPK CTJH.F Ordinary Shares Pink Sheets LLC US USD 08. Sep 1997
DB CZR Ordinary Shares Deutsche Boerse AG DE EUR 08. Sep 1997
SHSC 1205 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 08. Sep 1997
SZSC 1205 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 08. Sep 1997
OTCPK CTJH.Y UNSPONSORED ADR Pink Sheets LLC US USD 12. Mar 2010
Number of employees
Current staff
Staff numbers
308
CITIC Resources Holdings employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/17 00:06
End of day share price update: 2019/06/19 00:00
Last earnings filing: 2019/08/30
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.