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China Merchants Bank Co., Ltd. (600036) Report Analysis

Corporate Events

Neutral

China Merchants Bank Co., Ltd. to Report First ...

2022-08-08 09:18:00

China Merchants Bank Co., Ltd. announced that they will report first half, 2022 results on Aug 19, 2022

Neutral

China Merchants Bank Co., Ltd., Board Meeting, ...

2022-08-08 09:18:00

China Merchants Bank Co., Ltd., Board Meeting, Aug 19, 2022. Agenda: To consider and approving the announcement of the interim results of the ...

Neutral

China Merchants Bank Co., Ltd., Board Meeting, ...

2022-07-22 10:59:00

China Merchants Bank Co., Ltd., Board Meeting, Jul 22, 2022. Agenda: To discuss the Resolution regarding the Withdrawal of the Application for...

Positive

China Merchants Bank Co., Ltd. Approves Final D...

2022-06-30 09:33:00

China Merchants Bank Co., Ltd. announced that 2021 Annual General Meeting was convened by the Company on 29 June 2022, at which, among other t...

Neutral

China Merchants Bank Co., Ltd., Board Meeting, ...

2022-06-29 13:46:00

China Merchants Bank Co., Ltd., Board Meeting, Jun 29, 2022. Agenda: To consider management changes; and to consider other matters.

Positive

China Merchants Bank Co., Ltd. Proposes Final D...

2022-05-27 09:28:00

China Merchants Bank Co., Ltd. proposed ordinary final dividend of RMB 1.522 per share for the year ended 31 December 2021. Date of shareholde...

Neutral

China Merchants Bank Co., Ltd. Proposes Amendme...

2022-05-27 09:09:00

China Merchants Bank Co., Ltd. announced that at the Annual General Meeting to be held on 29 June, 2022, proposed amending the Articles of Ass...

Neutral

China Merchants Bank Co., Ltd., Annual General ...

2022-05-27 09:09:00

China Merchants Bank Co., Ltd., Annual General Meeting, Jun 29, 2022, at 09:30 China Standard Time. Location: Conference Room, 5/F, China Merc...

Neutral

China Merchants Bank Co., Ltd. Announces Amendm...

2022-05-20 12:37:00

China Merchants Bank Co., Ltd. announced that he Board of Directors meeting was held on 20 May 2022, the company approved the Resolution on th...

Neutral

China Merchants Bank Co., Ltd., Board Meeting, ...

2022-05-20 12:37:00

China Merchants Bank Co., Ltd., Board Meeting, May 20, 2022. Agenda: To discuss the resolution on the List of the Candidates for the Directors...

Positive

China Merchants Bank Co., Ltd. has completed a ...

2022-05-11 00:00:00

China Merchants Bank Co., Ltd. has completed a Fixed-Income Offering in the amount of CNY 5 billion. Security Name: 2.65% Fixed Rate Notes ...

Positive

China Merchants Bank Co., Ltd. has announced a ...

2022-05-07 00:00:00

China Merchants Bank Co., Ltd. has announced a Fixed-Income Offering. Security Name: Green Financial Bonds due 2025 Security Type: Corpora...

Neutral

China Merchants Bank Co., Ltd., Board Meeting, ...

2022-04-18 11:39:00

China Merchants Bank Co., Ltd., Board Meeting, Apr 18, 2022. Agenda: To consider the resolution regarding the removal of Mr. Tian Huiyu's duty...

Neutral

China Merchants Bank Co., Ltd., Q1 2022 Earning...

2022-04-11 00:00:00

China Merchants Bank Co., Ltd., Q1 2022 Earnings Call, Apr 25, 2022

Neutral

China Merchants Bank Co., Ltd., Q1 2022 Earning...

2022-04-11 00:00:00

China Merchants Bank Co., Ltd., Q1 2022 Earnings Call, Apr 25, 2022

Neutral

China Merchants Bank Co., Ltd. to Report Q1, 20...

2022-04-08 09:13:00

China Merchants Bank Co., Ltd. announced that they will report Q1, 2022 results on Apr 22, 2022

Neutral

China Merchants Bank Co., Ltd., Board Meeting, ...

2022-04-08 09:13:00

China Merchants Bank Co., Ltd., Board Meeting, Apr 22, 2022. Agenda: To consider and approving the announcement of the first quarterly results...

Positive

China Merchants Bank Co., Ltd., 1.522 (CNY), Ca...

2022-03-21 00:00:00

China Merchants Bank Co., Ltd., 1.522 (CNY), Cash Dividend, Jul-15-2022

Negative

China Merchants Bank Co., Ltd. Announces Additi...

2021-12-27 10:18:00

China Merchants Bank Co., Ltd. announced At the employee representative meeting held in accordance with the laws by the Company on 27 December...

Negative

China Merchants Bank Co., Ltd. Announces Resign...

2021-12-13 00:00:00

The board of supervisors of China Merchants Bank Co., Ltd. received a letter of resignation from Mr. Liu Xiaoming on 13 December 2021. Due to ...

Positive

China Merchants Bank Co., Ltd. Announces Cash D...

2021-12-10 10:52:00

China Merchants Bank Co., Ltd. announced Cash dividend payable for each of the Preference Shares will be RMB 4.81 (tax inclusive), calculated ...

Positive

China Merchants Bank Co., Ltd. has completed a ...

2021-11-16 00:00:00

China Merchants Bank Co., Ltd. has completed a Fixed-Income Offering in the amount of CNY 1.5 billion. Security Name: 3.23% Bonds due Novem...

Neutral

China Merchants Bank Co., Ltd. Presents at 12th...

2021-10-29 18:11:00

China Merchants Bank Co., Ltd. Presents at 12th Annual China Investment Conference, Nov-01-2021 . Venue: Shenzhen, China.

Neutral

China Merchants Bank Co., Ltd. to Report Q3, 20...

2021-10-11 08:30:00

China Merchants Bank Co., Ltd. announced that they will report Q3, 2021 results on Oct 22, 2021

Neutral

China Merchants Bank Co., Ltd., Board Meeting, ...

2021-10-11 08:30:00

China Merchants Bank Co., Ltd., Board Meeting, Oct 22, 2021. Agenda: To consider the third quarter results of the company for the period ended...

Positive

China Merchants Bank Co., Ltd.(SZSC:3968) added...

2021-09-14 00:00:00

China Merchants Bank Co., Ltd. has been added to Hang Seng Index.

Negative

China Merchants Bank Co., Ltd. Announces Board Changes

2021-08-23 12:31:00

China Merchants Bank Co., Ltd. received the Approval from the China Banking and Insurance Regulatory Commission on the Qualifications of Li Ch...

Negative

China Merchants Bank Co., Ltd. Appoints Mr. Wan...

2021-08-19 15:43:00

The board of directors (the "Board") of China Merchants Bank Co., Ltd. (the "Company" or "China Merchants Bank") announced that the Board has ...

Neutral

China Merchants Bank Co., Ltd. to Report First Half, 2022 Results on Aug 19, 2022

2022-08-08 09:18:00

China Merchants Bank Co., Ltd. announced that they will report first half, 2022 results on Aug 19, 2022

Neutral

China Merchants Bank Co., Ltd., Board Meeting, Aug 19, 2022

2022-08-08 09:18:00

China Merchants Bank Co., Ltd., Board Meeting, Aug 19, 2022. Agenda: To consider and approving the announcement of the interim results of the Company for the six months ended 30 June 2022 for publication; and to consider the recommendation of an interim dividend, if any.

Neutral

China Merchants Bank Co., Ltd., Board Meeting, Jul 22, 2022

2022-07-22 10:59:00

China Merchants Bank Co., Ltd., Board Meeting, Jul 22, 2022. Agenda: To discuss the Resolution regarding the Withdrawal of the Application for the Opening of China Merchants T-Bank.

Positive

China Merchants Bank Co., Ltd. Approves Final Dividend for the Year Ended 31 December 2021, Payable on or About 10 August 2022

2022-06-30 09:33:00

China Merchants Bank Co., Ltd. announced that 2021 Annual General Meeting was convened by the Company on 29 June 2022, at which, among other things, the profit appropriation plan for 2021 of the company was considered and approved. The Company will distribute a cash dividend of RMB 1.522 (tax included) for every one share held by the shareholders whose names appear on the register of members of the Company at the close of business on the respective record dates for the A shareholders and the H shareholders. The dividend for A shareholders would be RMB 1.522 (tax included) per share, payable in RMB. Based on the average benchmark exchange rate of Renminbi to Hong Kong Dollars as released by the People's Bank of China one week prior to and including the date of declaration of dividends at the 2021 Annual General Meeting of the Company (i.e. HKD 1=RMB0.8534), the dividend for H shareholders would be approximately HKD 1.783454 (tax included) per share, payable in Hong Kong Dollars. CMB Wing Lung (Trustee) Limited, the Company's H-share dividend payment agent, is expected to pay the 2021 final dividend (net of the relevant tax) to H shareholders of the Company on or about 10 August 2022, and the relevant cheques of dividends will be sent at the same time by ordinary post to H shareholders of the Company at their own risk.

Neutral

China Merchants Bank Co., Ltd., Board Meeting, Jun 29, 2022

2022-06-29 13:46:00

China Merchants Bank Co., Ltd., Board Meeting, Jun 29, 2022. Agenda: To consider management changes; and to consider other matters.

Positive

China Merchants Bank Co., Ltd. Proposes Final Dividend for the Year Ended 31 December 2021, Payable on 10 August 2022

2022-05-27 09:28:00

China Merchants Bank Co., Ltd. proposed ordinary final dividend of RMB 1.522 per share for the year ended 31 December 2021. Date of shareholders' approval is 29 June 2022. Ex-dividend date is 07 July 2022. Record date is 14 July 2022. Payment date is 10 August 2022.

Neutral

China Merchants Bank Co., Ltd. Proposes Amendments to the Articles of Association

2022-05-27 09:09:00

China Merchants Bank Co., Ltd. announced that at the Annual General Meeting to be held on 29 June, 2022, proposed amending the Articles of Association.

Neutral

China Merchants Bank Co., Ltd., Annual General Meeting, Jun 29, 2022

2022-05-27 09:09:00

China Merchants Bank Co., Ltd., Annual General Meeting, Jun 29, 2022, at 09:30 China Standard Time. Location: Conference Room, 5/F, China Merchants Bank Tower No. 7088 Shennan Boulevard, Futian District Shenzhen Guangdong Province China Agenda: To consider Work Report of the Board of Directors for the year 2021; to consider work report of the board of supervisors for the year 2021; to consider annual report for the year 2021 (including the Audited Financial Report); to consider audited financial statements for the year 2021; to consider Proposal regarding the profit appropriation plan for the year 2021 (including the distribution of final dividend); to consider resolution regarding the engagement of accounting firms for the year 2022; to consider related party transaction report for the year 2021; to consider medium-term capital management plan for 2022-2024; to consider proposal regarding adjusting the authorisation to directors in respect of domestic preference shares of China Merchants Bank; and to consider other matters.

Neutral

China Merchants Bank Co., Ltd. Announces Amendments to the Articles of Association

2022-05-20 12:37:00

China Merchants Bank Co., Ltd. announced that he Board of Directors meeting was held on 20 May 2022, the company approved the Resolution on the Amendments to the Articles of Association of China Merchants Bank Co., Ltd., and it is agreed that the Articles of Association of China Merchants Bank Co., Ltd. (2022 Revision) (including the Rules of Procedures for Shareholders' General Meetings, the Rules of Procedures for Meetings of the Board of Directors and the Rules of Procedures for Meetings of the Board of Supervisors) will be submitted to the 2021 annual general meeting of the Company for consideration. This resolution requires the approval of more than two-thirds of the voting rights held by shareholders (including their proxies) with voting rights attending the general meeting. The Articles of Association of China Merchants Bank Co., Ltd. (2022 Revision) shall be subject to the approval by the CBIRC upon the approval at the general meeting. For the amendments to the Articles of Association of the Company and the Rules of Procedures for Shareholders' General Meetings, the Rules of Procedures for Meetings of the Board of Directors and the Rules of Procedures for Meetings of the Board of Supervisors, refer to the circular for the 2021 annual general meeting to be issued separately by the Company.

Neutral

China Merchants Bank Co., Ltd., Board Meeting, May 20, 2022

2022-05-20 12:37:00

China Merchants Bank Co., Ltd., Board Meeting, May 20, 2022. Agenda: To discuss the resolution on the List of the Candidates for the Directors of the Twelfth Session of the Board of Directors; to consider the resolution on the Amendments to the Articles of Association; and to consider any other matter thereof.

Positive

China Merchants Bank Co., Ltd. has completed a Fixed-Income Offering in the amount of CNY 5 billion.

2022-05-11 00:00:00

China Merchants Bank Co., Ltd. has completed a Fixed-Income Offering in the amount of CNY 5 billion. Security Name: 2.65% Fixed Rate Notes due May 13, 2025 Security Type: Corporate Bond/Note (Non Convertible) Principal Amount: CNY 5 billion Price\Range: 100% Coupon Type: Fixed

Positive

China Merchants Bank Co., Ltd. has announced a Fixed-Income Offering.

2022-05-07 00:00:00

China Merchants Bank Co., Ltd. has announced a Fixed-Income Offering. Security Name: Green Financial Bonds due 2025 Security Type: Corporate Bond/Note (Non Convertible) Price\Range: 100% Security Features: Climate Bonds/Green Bonds

Neutral

China Merchants Bank Co., Ltd., Board Meeting, Apr 18, 2022

2022-04-18 11:39:00

China Merchants Bank Co., Ltd., Board Meeting, Apr 18, 2022. Agenda: To consider the resolution regarding the removal of Mr. Tian Huiyu's duty; and to consider other matters.

Neutral

China Merchants Bank Co., Ltd., Q1 2022 Earnings Call, Apr 25, 2022

2022-04-11 00:00:00

China Merchants Bank Co., Ltd., Q1 2022 Earnings Call, Apr 25, 2022

Neutral

China Merchants Bank Co., Ltd., Q1 2022 Earnings Call, Apr 25, 2022

2022-04-11 00:00:00

China Merchants Bank Co., Ltd., Q1 2022 Earnings Call, Apr 25, 2022

Neutral

China Merchants Bank Co., Ltd. to Report Q1, 2022 Results on Apr 22, 2022

2022-04-08 09:13:00

China Merchants Bank Co., Ltd. announced that they will report Q1, 2022 results on Apr 22, 2022

Neutral

China Merchants Bank Co., Ltd., Board Meeting, Apr 22, 2022

2022-04-08 09:13:00

China Merchants Bank Co., Ltd., Board Meeting, Apr 22, 2022. Agenda: To consider and approving the announcement of the first quarterly results of the company for the three months ended 31 March 2022 for publication.

Positive

China Merchants Bank Co., Ltd., 1.522 (CNY), Cash Dividend, Jul-15-2022

2022-03-21 00:00:00

China Merchants Bank Co., Ltd., 1.522 (CNY), Cash Dividend, Jul-15-2022

Negative

China Merchants Bank Co., Ltd. Announces Addition of Employee Supervisor of the Eleventh Session of the Board Of supervisors

2021-12-27 10:18:00

China Merchants Bank Co., Ltd. announced At the employee representative meeting held in accordance with the laws by the Company on 27 December 2021, Ms. Cai Jin was democratically elected as an Employee Supervisor of the Eleventh Session of the Board of Supervisors of the Company. The term of office of Ms. Cai Jin as an Employee Supervisor shall be effective from 27 December 2021 until the date of expiry of the Eleventh Session of the Board of Supervisors of the Company. The resignation of Mr. Liu Xiaoming as an Employee Supervisor shall be effective from 27 December 2021. Ms. Cai Jin, born in July 1970, obtained a bachelor's degree in Finance from Hunan University of Finance and Economics. She is an economist. She currently serves as the Director of the Labor Union of the Head Office of the Company. In August 1992, she started her career in the Shashi Branch of Industrial and Commercial Bank of China in Hubei Province. She joined the Company in May 1995. She successively served as the Assistant to the General Manager of the Human Resources Department, the Deputy General Manager of the Banking Department of the Head Office and the Deputy General Manager of the Asset Custody Department of the Head Office from April 2010 to December 2021.

Negative

China Merchants Bank Co., Ltd. Announces Resignation of Liu Xiaoming to the Board of Supervisors as an Employee Supervisor and A Member of the Nomination Committee Under the Board of Supervisors

2021-12-13 00:00:00

The board of supervisors of China Merchants Bank Co., Ltd. received a letter of resignation from Mr. Liu Xiaoming on 13 December 2021. Due to change in work arrangements, Mr. Liu Xiaoming tendered his resignation to the Board of Supervisors as an Employee Supervisor and a member of the Nomination Committee under the Board of Supervisors. In accordance with relevant laws and regulations and the Articles of Association of China Merchants Bank Co., Ltd., the resignation of Mr. Liu Xiaoming will take effect after a new Employee Supervisor has been elected by the employee representative meeting of the Company to fill his vacancy. Until then, Mr. Liu Xiaoming will continue to perform his duties as an Employee Supervisor in accordance with relevant regulations.

Positive

China Merchants Bank Co., Ltd. Announces Cash Dividend for Preference Shares, Payable on December 20, 2021

2021-12-10 10:52:00

China Merchants Bank Co., Ltd. announced Cash dividend payable for each of the Preference Shares will be RMB 4.81 (tax inclusive), calculated at the dividend rate of 4.81% for (Zhao Yin You 1), and the company will distribute cash dividends of RMB 1,322.75 million in total (tax inclusive). Record date is 17 December 2021. Ex-dividend date is 17 December 2021. Dividend payment date: Since 18 December 2021 is a Saturday, the dividend payment date will be postponed to the first working day of the following week, which is 20 December 2021.

Positive

China Merchants Bank Co., Ltd. has completed a Fixed-Income Offering in the amount of CNY 1.5 billion.

2021-11-16 00:00:00

China Merchants Bank Co., Ltd. has completed a Fixed-Income Offering in the amount of CNY 1.5 billion. Security Name: 3.23% Bonds due November 18, 2024 Security Type: Corporate Bond/Note (Non Convertible) Principal Amount: CNY 1.5 billion Price\Range: 100% Security Features: MTN Coupon Type: Fixed

Neutral

China Merchants Bank Co., Ltd. Presents at 12th Annual China Investment Conference, Nov-01-2021

2021-10-29 18:11:00

China Merchants Bank Co., Ltd. Presents at 12th Annual China Investment Conference, Nov-01-2021 . Venue: Shenzhen, China.

Neutral

China Merchants Bank Co., Ltd. to Report Q3, 2021 Results on Oct 22, 2021

2021-10-11 08:30:00

China Merchants Bank Co., Ltd. announced that they will report Q3, 2021 results on Oct 22, 2021

Neutral

China Merchants Bank Co., Ltd., Board Meeting, Oct 22, 2021

2021-10-11 08:30:00

China Merchants Bank Co., Ltd., Board Meeting, Oct 22, 2021. Agenda: To consider the third quarter results of the company for the period ended September 30, 2021 for publication.

Positive

China Merchants Bank Co., Ltd.(SZSC:3968) added to Hang Seng Index

2021-09-14 00:00:00

China Merchants Bank Co., Ltd. has been added to Hang Seng Index.

Negative

China Merchants Bank Co., Ltd. Announces Board Changes

2021-08-23 12:31:00

China Merchants Bank Co., Ltd. received the Approval from the China Banking and Insurance Regulatory Commission on the Qualifications of Li Chaoxian and Shi Yongdong of China Merchants Bank (Yin Bao Jian Fu [2021] No. 659), which approved the appointment qualifications of Mr. Li Chaoxian and Mr. Shi Yongdong as Independent Directors of the Company. The terms of Mr. Li Chaoxian and Mr. Shi Yongdong as Independent Non-executive Directors of the Company have taken effect from 18 August 2021, being the date of the approval and shall expire at the conclusion of the Eleventh Session of the Board of Directors of the Company. For the biographical details of Mr. Li Chaoxian and Mr. Shi Yongdong, refer to the announcement dated 20 May 2021 published on the websites of the Company and The Stock Exchange of Hong Kong Limited. According to the relevant requirements under laws and regulations and the Articles of Association of the Company, the terms of office of Mr. Leung Kam Chung, Antony and Mr. Zhao Jun as Independent Non-executive Directors of the Company and members of the relevant special committees under the Board of Directors shall expire on 18 August 2021.

Negative

China Merchants Bank Co., Ltd. Appoints Mr. Wang Liang as the Secretary of the Board

2021-08-19 15:43:00

The board of directors (the "Board") of China Merchants Bank Co., Ltd. (the "Company" or "China Merchants Bank") announced that the Board has determined to appoint Mr. Wang Liang as the secretary of the Board of China Merchants Bank, and to appoint Mr. Wang Liang as the company secretary of China Merchants Bank and authorised representative in charge of matters in relation to listing in Hong Kong of China Merchants Bank upon consideration and approval at the 30th meeting of the Eleventh Session of the Board of the Company, and his term of office shall take effect from the date of consideration and approval by the Board (that is 19 August 2021) until the date of conclusion of the Eleventh Session of the Board.

Fundamental Summary

China Merchants published its Q4 report on 2022-03-18 with positive results, but no significant factors particularly remarkable relative to its peers. It is highly likely that it will be mostly tethered to market performance and sector movements for the near term. We therefore gave China Merchants a total score of 74 out of 100 and a HOLD recommendation.

China Merchants reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported net interest income was CNY 54,464 million compared to CNY 49,524 million a year ago. Net income was CNY 36,022 million compared to CNY 32,015 million a year ago. Basic earnings per share from continuing operations was CNY 1.43 compared to CNY 1.27 a year ago. Diluted earnings per share from continuing operations was CNY 1.43 compared to CNY 1.27 a year ago.

Business Description

China Merchants, together with its subsidiaries, provides various banking products and services. It operates through Wholesale Finance Business, Retail Finance Business, and Other Business segments. The company offers current, demand, time, call, savings, notice, and renminbi accounts. Its loan products include personal commercial real estate, consumption, housing, and car loans; loans to finance for studying abroad; micro-business loans; mortgage loans for equipment; joint guarantee, special guarantee, and housing mortgage loan; bank acceptance, discount, liquid capital, and fixed asset loans; and loans for vessels. The company also offers credit cards; insurance products; open-ended funds; discount and guarantees for commercial bills, redemption of commercial bills, and guaranteed discount for commercial acceptance bills; and financial consultation, debt financing underwriting, merger and acquisition financing, and equity financing and enterprise listing services. In addition, it provides forfeiting and risk participation, escrow, cross-border RMB clearing, and interbank services; and risk and financial management, cross-border RMB and oversea financing, international factoring and settlement, and trade finance services. Further, the company offers financial leasing and guarantee, investment and wealth management, forex option and gold trading, forex express trading, international, offshore and private banking, custody, pension, and electronic banking services. As of December 31, 2021, it operated 143 branches; 1,770 sub-branches; one branch-level operation center; 2,812 self-service centers; 6,592 self-service machines; one representative office; 14,746 visual counters in Mainland China. The company also operates in Hong Kong, New York, London, Singapore, Luxembourg, Sydney, and Taipei. China Merchants was founded in 1987 and is headquartered in Shenzhen, China.

Sector Overview

China Merchants is included in the Banks according to GICS (global industry classification standard). The Banks industry, which is in the Financials sector, includes Diversified & Regional Banks whose operations focus on conventional banking, retail banking, and lending to SMEs (small and medium enterprises). China Merchants's industry and sector affiliation are not expected to particularly benefit, nor be weighed down by macroeconomic factors at this time.

Fundamental Highlights


Parameter Value Change Score
Assets 9.2T 4.1% 62
Liabilities 8.4T 3.2% 69
Price to Book 1.5 -21.4% 92
Cash & Equivalents 220.9B -12.5% 55
Equity 824.7B 14.4% 62
EBITDA nan 0.0% 73
Total Revenues 265.3B 8.4% 56
Parameter Value Change Score
Return on Equity 15.1 -3.2% 58
Net Cashflow 249.0B 142.4% 69
Capital Expenditure -21.8B -9.7% 56
Asset Turnover nan 0.0% 68
Free Cashflow Per Share 6.2 4.3% 62

* All values are TTM

The below chart reflects China Merchants's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While China Merchants's peer average final assessment score stands on 73.0, China Merchants's score is 74.

  •  600036
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
Industrial Bank Co., Ltd. 369.8B 86 67 69
Buy
80
80 0 1
Shanghai Pudong Development Bank Co., Ltd. 211.3B 73 62 69
Hold
68
68 1 1
China Minsheng Banking Corp., Ltd. 146.9B 83 63 80
Buy
78
78 2 1
China Everbright Bank Company Limited 143.4B 78 64 57
Hold
70
70 3 1
Bank of Nanjing Co., Ltd. 106.8B 63 70 61
Hold
66
66 4 1
Bank of Jiangsu Co., Ltd. 102.1B 85 71 86
Buy
86
86 5 1
Bank of Beijing Co., Ltd. 87.1B 85 60 76
Hold
77
77 6 1
Bank of Shanghai Co., Ltd. 83.3B 91 64 83
Buy
85
85 7 1
Bank of Hangzhou Co., Ltd. 78.8B 82 70 70
Buy
80
80 8 1
Hua Xia Bank Co., Limited 78.5B 82 64 74
Hold
76
76 9 1
Shanghai Rural Commercial Bank Co., Ltd. 55.8B 80 70 69
Hold
78
78 10 1
Bank of Chengdu Co., Ltd. 51.4B 86 68 58
Buy
79
79 11 1
Bank of Changsha Co., Ltd. 27.8B 79 62 62
Hold
71
71 12 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 21.2B 67 73 66
Hold
72
72 13 1
Bank of Guiyang Co.,Ltd. 20.3B 82 63 76
Hold
77
77 14 1
QILU BANK CO., LTD. 19.8B 94 69 82
Strong Buy
90
90 15 1
Bank of Xi'an Co.,Ltd. 15.6B 77 63 82
Hold
75
75 16 1
Xiamen Bank Co., Ltd. 14.8B 84 63 84
Buy
80
80 17 1
Wuxi Rural Commercial Bank Co.,Ltd 10.9B 73 64 80
Hold
72
72 18 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 10.7B 83 71 71
Buy
81
81 19 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.2B 55 69 61
Underperform
56
56 20 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.3B 74 73 72
Hold
76
76 21 1
Ping An Bank Co., Ltd. 243.9B 84 71 87
Buy
86
86 22 1
Bank of Ningbo Co., Ltd. 189.6B 90 70 73
Buy
85
85 23 1
Bank of Suzhou Co., Ltd. 22.9B 94 61 63
Buy
80
80 24 1
Qingdao Rural Commercial Bank Co., Ltd. 16.9B 75 62 83
Hold
73
73 25 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 10.8B 70 59 71
Hold
70
70 26 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.7B 66 77 79
Hold
78
78 27 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. China Merchants's stock is now priced below its 5-day, 50-day, and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is weakening. Historically, this is a negative setup in the near, medium, and long-term. The company is trading near it's 12-month low, which signals it struggle to keep above it support price. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), China Merchants's stock indicates that it's likely oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 37.

Bearish 37
Close Price 33.72
52W Low 33.06
52W High 55.3
5D MA 33.99
50D MA 37.32
200D MA 44.66
MACD -0.95
RSI 23.42
STOCH 45.21

Balance Sheet Analysis

Overall, China Merchants's critical balance sheet metrics appear to signal strong support and a high likelihood of positive growth going forward. China Merchants publishes impressive results related to book value factors in this report. Specifically, price to book ratio (P/B) now sits at 1.5 and represents a -21.4% change from the previous report. Their industry-leading book value factors momentum reinforces an expectation for future positive momentum for their stock price going forward. Consequently, their book value factors movement received a grade of 92. Also, In terms of liabilities, China Merchants published good numbers. Their reported liabilities were 8.4T, representing a 3.2% change from the previous report. These liabilities changes appear balanced compared to their peers and project the message that management is capable and focused on balancing asset growth, resource allocation, and growing liabilities. Therefore, we rated their liabilities movement with a score of 69. However, one discouraging result, Cash & Equivalents, stood out. China Merchants's management did a relatively poor job managing cash and cash equivalents, which now sit at 220.9B and represents a -12.5% change from the last reporting period. The company's cash and cash equivalents metrics highlight a difficult overall financial situation, which may, unfortunately, continue moving forward unless management makes significant changes. Discouraging results like these statistically lead to negative pressure in stock prices, so we rated their cash and cash equivalents with a score of 55. Therefore, the company's balance sheet earned a grade of 81.

Parameter Value Change Score
Assets 9.2T 4.1% 62
Liabilities 8.4T 3.2% 69
Price to Book 1.5 -21.4% 92
Cash & Equivalents 220.9B -12.5% 55
Equity 824.7B 14.4% 62
* All values are TTM

The below chart describes China Merchants's performance as reflected on its balance sheet with respect to its peers. While China Merchants received a balance sheet score of 81, the average of its peers stands on 76.0.

  •  600036
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
Industrial Bank Co., Ltd. 369.8B 74.0 67.0 66.0 90.0 84.0 86 0 1
Shanghai Pudong Development Bank Co., Ltd. 211.3B 74.0 64.0 56.0 50.0 77.0 73 1 1
China Minsheng Banking Corp., Ltd. 146.9B 81.0 50.0 67.0 91.0 78.0 83 2 1
China Everbright Bank Company Limited 143.4B 89.0 43.0 67.0 52.0 77.0 78 3 1
Bank of Nanjing Co., Ltd. 106.8B 74.0 58.0 40.0 67.0 66.0 63 4 1
Bank of Jiangsu Co., Ltd. 102.1B 88.0 61.0 55.0 93.0 79.0 85 5 1
Bank of Beijing Co., Ltd. 87.1B 63.0 64.0 64.0 65.0 92.0 85 6 1
Bank of Shanghai Co., Ltd. 83.3B 84.0 54.0 52.0 91.0 91.0 91 7 1
Bank of Hangzhou Co., Ltd. 78.8B 81.0 53.0 54.0 87.0 81.0 82 8 1
Hua Xia Bank Co., Limited 78.5B 79.0 49.0 67.0 89.0 77.0 82 9 1
Shanghai Rural Commercial Bank Co., Ltd. 55.8B 80.0 61.0 68.0 81.0 75.0 80 10 1
Bank of Chengdu Co., Ltd. 51.4B 83.0 57.0 66.0 82.0 83.0 86 11 1
Bank of Changsha Co., Ltd. 27.8B 73.0 60.0 67.0 71.0 79.0 79 12 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 21.2B 77.0 51.0 56.0 59.0 70.0 67 13 1
Bank of Guiyang Co.,Ltd. 20.3B 75.0 60.0 67.0 78.0 81.0 82 14 1
QILU BANK CO., LTD. 19.8B 79.0 53.0 91.0 77.0 90.0 94 15 1
Bank of Xi'an Co.,Ltd. 15.6B 64.0 74.0 67.0 63.0 81.0 77 16 1
Xiamen Bank Co., Ltd. 14.8B 86.0 55.0 67.0 84.0 79.0 84 17 1
Wuxi Rural Commercial Bank Co.,Ltd 10.9B 65.0 69.0 55.0 60.0 78.0 73 18 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 10.7B 82.0 57.0 67.0 81.0 79.0 83 19 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.2B 42.0 46.0 60.0 37.0 67.0 55 20 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.3B 78.0 63.0 56.0 58.0 75.0 74 21 1
Ping An Bank Co., Ltd. 243.9B 78.0 61.0 67.0 89.0 80.0 84 22 1
Bank of Ningbo Co., Ltd. 189.6B 85.0 43.0 66.0 97.0 85.0 90 23 1
Bank of Suzhou Co., Ltd. 22.9B 91.0 57.0 53.0 97.0 91.0 94 24 1
Qingdao Rural Commercial Bank Co., Ltd. 16.9B 66.0 67.0 55.0 71.0 79.0 75 25 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 10.8B 74.0 66.0 55.0 86.0 67.0 70 26 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.7B 75.0 60.0 56.0 77.0 64.0 66 27 1

Income Statement Analysis

All in all, the most important metrics within China Merchants's income statement looked encouraging. China Merchants reported impressive EBITDA this period. At filing, EBITDA was reported as nan, representing 0.0% change from the previous period. Companies in the same industry and market capitalization are typically affected by this parameter by up to 9.7%. The company is headed in the right direction regarding EBITDA, exhibiting efficient capital controls and strong overall financial performance. The company's EBITDA movement, therefore, received a grade of 73. Also, China Merchants's reported return on equity (ROE) ratio was 15.1, representing a change of -3.2%. These numbers show that management has successfully encouraged growth while managing ROE and ROA metrics, especially relative to their peers. Consequently, their return factors received a grade of 58. However, one discouraging result, Revenue Efficiency, stood out. China Merchants management did an underwhelming job managing revenue efficiency this past period. China Merchants's revenue efficiency is 265.3B according to the metrics in the current filing, which represents a 8.4% change from the previous report. This metric might have a 1.4 percent impact on companies in the same industry and with the same market capitalization. Its uninspiring revenue efficiency is even more concerning relative to its peers and competitors in the current market. Consequently, their revenue efficiency received a grade of 56. Therefore, its income statement earned a grade of 65.

Parameter Value Change Score
EBITDA nan 0.0% 73
Total Revenues 265.3B 8.4% 56
Return on Equity 15.1 -3.2% 58
* All values are TTM

The below chart describes China Merchants's performance as reflected on its income statement with respect to its peers. While China Merchants received a income statement score of 65 , the average of its peers stands on 68.0.

  •  600036
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
Industrial Bank Co., Ltd. 369.8B 48.0 67.0 72.0 67 0 1
Shanghai Pudong Development Bank Co., Ltd. 211.3B 80.0 67.0 54.0 62 1 1
China Minsheng Banking Corp., Ltd. 146.9B 85.0 67.0 55.0 63 2 1
China Everbright Bank Company Limited 143.4B 69.0 67.0 61.0 64 3 1
Bank of Nanjing Co., Ltd. 106.8B 53.0 64.0 77.0 70 4 1
Bank of Jiangsu Co., Ltd. 102.1B 48.0 69.0 78.0 71 5 1
Bank of Beijing Co., Ltd. 87.1B 64.0 67.0 50.0 60 6 1
Bank of Shanghai Co., Ltd. 83.3B 67.0 67.0 61.0 64 7 1
Bank of Hangzhou Co., Ltd. 78.8B 48.0 66.0 81.0 70 8 1
Hua Xia Bank Co., Limited 78.5B 62.0 67.0 61.0 64 9 1
Shanghai Rural Commercial Bank Co., Ltd. 55.8B 53.0 68.0 77.0 70 10 1
Bank of Chengdu Co., Ltd. 51.4B 44.0 68.0 74.0 68 11 1
Bank of Changsha Co., Ltd. 27.8B 57.0 67.0 58.0 62 12 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 21.2B 51.0 68.0 79.0 73 13 1
Bank of Guiyang Co.,Ltd. 20.3B 69.0 67.0 58.0 63 14 1
QILU BANK CO., LTD. 19.8B 50.0 68.0 75.0 69 15 1
Bank of Xi'an Co.,Ltd. 15.6B 87.0 67.0 55.0 63 16 1
Xiamen Bank Co., Ltd. 14.8B 48.0 68.0 59.0 63 17 1
Wuxi Rural Commercial Bank Co.,Ltd 10.9B 55.0 69.0 60.0 64 18 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 10.7B 66.0 69.0 75.0 71 19 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.2B 47.0 68.0 72.0 69 20 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.3B 84.0 69.0 77.0 73 21 1
Ping An Bank Co., Ltd. 243.9B 53.0 68.0 80.0 71 22 1
Bank of Ningbo Co., Ltd. 189.6B 55.0 68.0 75.0 70 23 1
Bank of Suzhou Co., Ltd. 22.9B 53.0 66.0 58.0 61 24 1
Qingdao Rural Commercial Bank Co., Ltd. 16.9B 62.0 67.0 57.0 62 25 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 10.8B 54.0 66.0 59.0 59 26 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.7B 68.0 68.0 80.0 77 27 1

Cash Flow Analysis

Our overall assessment of China Merchants's cash flow statement look encouraging regarding China Merchants's ability to generate cash to support normal operations and positive growth. China Merchants presents exciting net cash flow numbers for its recent financial release, illustrated by a net cash flow of 249.0B, which is a change of 142.4% from the last filing. The company is headed in the right direction regarding business priorities, exhibiting prudent net cash flow management and growth. The company's net cash flow, therefore, received a grade of 69. Also, China Merchants's published asset turnover numbers were encouraging and reflected management's balanced change strategy. China Merchants recorded asset turnover of nan, which represents a 0.0% change from the previous report. This metric might have a 3.9 percent impact on companies in the same industry and with the same market capitalization. Its asset turnover metrics are especially remarkable relative to their peers. We believe the stock price has room to grow to reflect its intrinsic value accurately. The company's asset turnover movement, therefore, received a grade of 68. On the other hand, Capital Expenditure, jumped out as looking rather underwhelming. China Merchants's published capital expenditures (CapEx) numbers were discouraging and reflected management's unbalanced growth strategy. China Merchants recorded CapEx of -21.8B, which represents a -9.7% change from the previous report. This performance is all the more uninspiring relative to their peers and competitors. Therefore, their CapEx movement component earned a score of 56. Therefore, we scored the company's cash flow a 66.

Parameter Value Change Score
Net Cashflow 249.0B 142.4% 69
Capital Expenditure -21.8B -9.7% 56
Asset Turnover nan 0.0% 68
Free Cashflow Per Share 6.2 4.3% 62
* All values are TTM

The below chart describes China Merchants's performance as reflected on its cash flow with respect to its peers. While China Merchants received a cash flow score of 66, the average of its peers stands on 67.0.

  •  600036
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
Industrial Bank Co., Ltd. 369.8B 81.0 56.0 48.0 69.0 69 0 1
Shanghai Pudong Development Bank Co., Ltd. 211.3B 49.0 87.0 85.0 69.0 69 1 1
China Minsheng Banking Corp., Ltd. 146.9B 81.0 45.0 91.0 69.0 80 2 1
China Everbright Bank Company Limited 143.4B 44.0 95.0 55.0 69.0 57 3 1
Bank of Nanjing Co., Ltd. 106.8B 64.0 76.0 46.0 69.0 61 4 1
Bank of Jiangsu Co., Ltd. 102.1B 91.0 41.0 90.0 69.0 86 5 1
Bank of Beijing Co., Ltd. 87.1B 66.0 67.0 92.0 69.0 76 6 1
Bank of Shanghai Co., Ltd. 83.3B 93.0 38.0 79.0 69.0 83 7 1
Bank of Hangzhou Co., Ltd. 78.8B 49.0 86.0 90.0 69.0 70 8 1
Hua Xia Bank Co., Limited 78.5B 77.0 57.0 69.0 69.0 74 9 1
Shanghai Rural Commercial Bank Co., Ltd. 55.8B 88.0 38.0 53.0 69.0 69 10 1
Bank of Chengdu Co., Ltd. 51.4B 63.0 67.0 45.0 69.0 58 11 1
Bank of Changsha Co., Ltd. 27.8B 61.0 81.0 46.0 69.0 62 12 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 21.2B 93.0 40.0 40.0 69.0 66 13 1
Bank of Guiyang Co.,Ltd. 20.3B 66.0 67.0 90.0 69.0 76 14 1
QILU BANK CO., LTD. 19.8B 79.0 53.0 90.0 69.0 82 15 1
Bank of Xi'an Co.,Ltd. 15.6B 85.0 45.0 87.0 69.0 82 16 1
Xiamen Bank Co., Ltd. 14.8B 91.0 40.0 85.0 69.0 84 17 1
Wuxi Rural Commercial Bank Co.,Ltd 10.9B 81.0 51.0 84.0 69.0 80 18 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 10.7B 95.0 37.0 44.0 69.0 71 19 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.2B 52.0 89.0 44.0 68.0 61 20 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.3B 84.0 50.0 56.0 69.0 72 21 1
Ping An Bank Co., Ltd. 243.9B 89.0 42.0 96.0 69.0 87 22 1
Bank of Ningbo Co., Ltd. 189.6B 90.0 38.0 59.0 69.0 73 23 1
Bank of Suzhou Co., Ltd. 22.9B 63.0 78.0 49.0 69.0 63 24 1
Qingdao Rural Commercial Bank Co., Ltd. 16.9B 86.0 49.0 84.0 69.0 83 25 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 10.8B 93.0 38.0 59.0 69.0 71 26 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.7B 94.0 37.0 93.0 69.0 79 27 1

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