Financials China Minsheng Banking Corp., Ltd. Hong Kong S.E.

Equities

1988

CNE100000HF9

Banks

Delayed Hong Kong S.E. 09:42:16 2024-07-04 pm EDT 5-day change 1st Jan Change
2.81 HKD -0.35% Intraday chart for China Minsheng Banking Corp., Ltd. +4.07% +6.04%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 267,574 215,370 158,502 142,216 152,642 158,373 - -
Enterprise Value (EV) 1 267,574 215,370 158,502 142,216 152,642 158,373 158,373 158,373
P/E ratio 5.17 x 7.32 x 5.49 x 4.86 x 5.19 x 5.22 x 4.92 x 4.61 x
Yield 5.86% 4.1% 5.46% 6.2% 5.78% 5.7% 5.88% 6.07%
Capitalization / Revenue 1.51 x 1.18 x 0.96 x 1.02 x 1.11 x 1.16 x 1.12 x 1.06 x
EV / Revenue 1.51 x 1.18 x 0.96 x 1.02 x 1.11 x 1.16 x 1.12 x 1.06 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.62 x 0.5 x 0.35 x 0.3 x 0.31 x 0.3 x 0.29 x 0.27 x
Nbr of stocks (in thousands) 43,782,419 43,782,419 43,782,419 43,782,419 43,782,419 43,782,419 - -
Reference price 2 6.310 5.200 3.900 3.450 3.740 3.850 3.850 3.850
Announcement Date 3/30/20 3/30/21 3/29/22 3/27/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 177,745 181,807 165,554 139,219 137,391 136,663 141,387 148,900
EBITDA - - - - - - - -
EBIT 1 127,729 131,322 114,373 86,617 84,584 84,198 86,144 91,435
Operating Margin 71.86% 72.23% 69.09% 62.22% 61.56% 61.61% 60.93% 61.41%
Earnings before Tax (EBT) 1 64,738 36,706 35,600 37,170 37,358 37,913 39,215 43,763
Net income 1 53,819 34,309 34,381 35,269 35,823 33,901 35,179 36,084
Net margin 30.28% 18.87% 20.77% 25.33% 26.07% 24.81% 24.88% 24.23%
EPS 2 1.220 0.7100 0.7100 0.7100 0.7200 0.7379 0.7819 0.8350
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.3700 0.2130 0.2130 0.2140 0.2160 0.2193 0.2263 0.2336
Announcement Date 3/30/20 3/30/21 3/29/22 3/27/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales 90,662 96,759 - - 36,102 74,199 - - - 33,095 - 34,765 31,087 - 34,273 - - - - - - -
EBITDA - - - - - - - - - - - - - - - - - - - - - -
EBIT 59,870 76,100 19,060 - 24,581 53,135 - - - 22,193 - 20,436 16,459 - 22,973 - - - - - - -
Operating Margin 66.04% 78.65% - - 68.09% 71.61% - - - 67.06% - 58.78% 52.94% - 67.03% - - - - - - -
Earnings before Tax (EBT) 26,315 33,083 - - - - - - - 8,708 - 10,886 1,725 - - - - - - - - -
Net income 22,196 28,453 - - - - - - - 9,545 - 9,800 2,246 - - - - - - - - -
Net margin 24.48% 29.41% - - - - - - - 28.84% - 28.19% 7.22% - - - - - - - - -
EPS 1 - - -0.0400 0.3100 0.1800 - 0.1900 0.0300 0.3300 - 0.4600 0.2100 0.0500 0.2600 0.3100 0.2200 0.5400 0.2300 -0.0500 0.3000 0.5600 0.3200
Dividend per Share - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 3/30/20 8/28/20 3/29/22 4/29/22 8/26/22 8/26/22 10/28/22 3/27/23 4/28/23 8/30/23 8/30/23 10/30/23 3/28/24 3/28/24 4/29/24 - - - - - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 12.4% 6.81% 6.23% 6.31% 6.1% 5.84% 5.74% 5.88%
ROA (Net income/ Total Assets) 0.87% 0.51% 0.5% 0.5% 0.48% 0.48% 0.44% 0.45%
Assets 1 6,186,092 6,727,255 6,945,657 7,053,800 7,463,125 7,008,046 7,920,260 7,983,198
Book Value Per Share 2 10.30 10.50 11.10 11.50 12.10 12.90 13.40 14.10
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 3/30/20 3/30/21 3/29/22 3/27/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
13
Last Close Price
3.85 CNY
Average target price
3.83 CNY
Spread / Average Target
-0.52%
Consensus
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