China Construction Bank - H Shares (00939: HKD4.76) drops 1.2% on strong volume; -6c [1.2%] Vol Index 3.1 [1 is avg] 16 April 2024

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China Construction Bank Corporation's (HK: 00939 HKD4.76) stock price dropped 6.0c (1.2%) from its previous trading session to close at HKD4.76.

Compared with the Hang Seng which fell 351.5 points (2.1%) in the day, the relative price increase was 0.9%.

China Construction Bank Corporation is Hong Kong's largest Bank by market cap.

There were 363,710,000 shares worth HKD1.7 billion ($221.1 million) traded today. The fall was exacerbated by strong volume of 3.1 times the average daily volume of 119.1 million shares.

CHINA CONSTRUCTION BANK - H SHARES (00939) Stock Dashboard [traded in Hong Kong Dollars, HKD] End-of-Day Tue, Apr 16

http://www.ccb.com

LastHKD4.76Market CapHKD1,144 billion [US$146 billion]
P/E3.4Dividend Yield % (TTM)8.9
EPS (FY2022)HKD1.28DPS (past 12 months)HKD0.4 or 42c
Shares Outstanding240,417,319,880ExchangeHONG KONG [Hong Kong]
00939 in IndicesHSI [of 66 stocks]SectorBank [of 30 stocks]
EPS Growth (FY2022 vs FY2021)7.6%Today's VI*3.1
Today's Volume363,710,000Currency1.000 USD = 7.83 Hong Kong Dollar (HKD)
Ave Daily Volume119,118,360 sharesPV$1000 (1 yr)HKD1,056
US$1,058
52-Week Price Range4.01 - 5.22

A year ago the exchange rate was USD 1 = 7.85 HKD. USD1000 would have bought HKD7,849. A year ago the China Construction Bank - H Shares share price was HKD4.93. HKD7,849 would have bought 1,593.6 China Construction Bank - H Shares shares on that day. Those 1,593.6 shares would be worth HKD7,585 at today's share price of HKD4.76. At today's exchange rate of USD1=7.83 HKD this is equivalent to USD969. Dividends reinvested are worth HKD89 ($89). PV$1000= $1,058.

Bullish Turning Point

Dividend Yield increases to 8.9%

Based on dividends of 42.23c per share for the trailing twelve months and the last price of HKD4.76 the dividend yield is 8.9%, a significant improvement from 8.8% on the previous day.

Price Volume Snapshot past 3 months (HKD)

Past month to HighLowVWAPVolume Index *
16 Apr 20244.94.74.82.5
15 Mar 20245.04.64.92.9
16 Feb 20244.84.34.61.1

[*Volume Index of 2.5 means volume for the month was 2.5 times its 12-month average]

[VWAP is defined as the Volume Weighted Average Price]

INDEX

SECTION 1 RECENT NEWS AND RESEARCH

SECTION 2 THE PAST QUARTER: PRESS RELEASES

SECTION 3 TODAY'S BULLISH SIGNALS

SECTION 4 ONGOING BULLISH PARAMETERS

SECTION 5 TODAY'S BEARISH SIGNALS

SECTION 6 ONGOING BEARISH PARAMETERS

SECTION 7 CORPORATE PROFILE

SECTION 8 BANK METRICS

SECTION 9 DIVIDEND

SECTION 10 TOP MANAGEMENT AND BOARD OF DIRECTORS

SECTION 11 TOP SHAREHOLDERS

Read more...

ANNEXURE

APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER

APPENDIX II STOCK IDENTIFIERS

GLOSSARY

SECTION 1 RECENT NEWS AND RESEARCH

VI* Volume Index = Number of shares traded today/Average number of shares traded per day.

SECTION 2 THE PAST QUARTER: PRESS RELEASES

2.1 Press Releases and Corporate Wire

Press Release article 1 of 11, Source: HongKong Stock Exchange, 180 words

April 09: China Construction Bank: Arrangement of Electronic Dissemination of Corporate Communications

Pursuant to the amended Rule 2.07A of the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") under the expansion of paperless listing regime and electronic dissemination of corporate communications that came into effect on 31 December 2023, China Construction Bank Corporation (the "Bank") is writing to inform you that the Bank has adopted electronic dissemination of corporate communications (the "Corporate Communications"). Corporate Communications mean any documents issued or to be issued by the Bank for the information or action of holders of any of its securities or the investing public, including but not limited to (a) the directors' report, its annual accounts together with a copy of the auditors' report and, where applicable, its summary financial report; (b) the interim report and, where applicable, its summary interim report; (c) a notice of meeting; (d) a listing document; (e) a circular; and (f) a proxy form.

Source: HongKong Stock Exchange

Press Release article 2 of 11, Source: HongKong Stock Exchange, 128 words

April 09: China Construction Bank: Circular of the First Extraordinary General Meeting of 2024

ANNUAL ISSUANCE PLAN FOR THE GROUP'S FINANCIAL BONDS AMOUNT OF CAPITAL INSTRUMENTS TO BE ISSUED AMOUNT OF TLAC NON-CAPITAL BONDS TO BE ISSUED AND NOTICE OF FIRST EXTRAORDINARY GENERAL MEETING OF 2024

INTRODUCTION

The purpose of this circular is to give you notice of the First EGM of 2024 and to provide you with reasonable and necessary information.

At the First EGM of 2024, resolutions will be proposed to consider and approve the following as special resolutions: (i) annual issuance plan for the Group's financial bonds; (ii) amount of capital instruments to be issued; (iii) amount of TLAC non-capital bonds to be issued.

Source: HongKong Stock Exchange

Press Release article 3 of 11, Source: HongKong Stock Exchange, 180 words

April 09: China Construction Bank: Arrangement of Electronic Dissemination of Corporate Communications

Pursuant to the amended Rule 2.07A of the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") under the expansion of paperless listing regime and electronic dissemination of corporate communications that came into effect on 31 December 2023, China Construction Bank Corporation (the "Bank") is writing to inform you that the Bank has adopted electronic dissemination of corporate communications (the "Corporate Communications"). Corporate Communications mean any documents issued or to be issued by the Bank for the information or action of holders of any of its securities or the investing public, including but not limited to (a) the directors' report, its annual accounts together with a copy of the auditors' report and, where applicable, its summary financial report; (b) the interim report and, where applicable, its summary interim report; (c) a notice of meeting; (d) a listing document; (e) a circular; and (f) a proxy form.

Source: HongKong Stock Exchange

Press Release article 4 of 11, Source: HongKong Stock Exchange, 159 words

April 09: China Construction Bank: Notification Letter with Request Form to Non-registered Shareholders Notice of Publication of Circular and Notice for the First Extraordinary General Meeting of 2024

The English and Chinese versions of the Current Corporate Communications are available on the Bank's websites at www.ccb.cn, www.ccb.com and the HKEXnews website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk.

For the purpose of environmental protection and cost saving, we encourage you to take advantage of selecting to review the Current Corporate Communications on the websites. If you would like to receive a printed version of the Current Corporate Communications, please complete the Request Form on the reverse side and send it to the Bank c/o Computershare Hong Kong Investor Services Limited (the "H Share Registrar"). The address of the H Share Registrar is 17M Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong.

Source: HongKong Stock Exchange

Press Release article 5 of 11, Source: HongKong Stock Exchange, 289 words

April 09: China Construction Bank: Notification Letter

The English and Chinese versions of the Current Corporate Communications are available on the Bank's website at www.ccb.cn, www.ccb.com and the HKEXnews website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk.

For the purpose of environmental protection and cost saving, we encourage you to take advantage of selecting to review the Current Corporate Communications on the websites. Even if you select to review the Current Corporate Communications on the websites, you will have the right at any time by completing and returning the Request Form on the reverse side to the Bank's H share registrar, by post to 17M Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong, or by email at ccb.ecom@computershare.com.hk to change the choice of means or language of the Current Corporate Communications or to receive the printed copies of the Current Corporate Communications. The Request Form may also be downloaded from the Bank's websites at www.ccb.cn, www.ccb.com and the HKEXnews website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk.

Please note that: (a) both the English and Chinese versions of the Corporate Communications are available on the HKEXnews website of Hong Kong Exchanges and Clearing Limited; (b) both the printed English and Chinese versions of the Corporate Communications are available for collection from the Bank's H share registrar on request.

If you have any queries about how to obtain copies of the Current Corporate Communications or how to access those documents on the Bank's website, please call the hotline of the Bank's H share registrar on (852) 2862 8688 during business hours (9:00 a.m. to 6:00 p.m., Monday to Friday, excluding public holidays).

Source: HongKong Stock Exchange

Press Release article 6 of 11, Source: HongKong Stock Exchange, 41 words

April 09: China Construction Bank - H Shares announces EGM

China Construction Bank - H Shares has announced its Extra Ordinary General Meeting will take place on Monday, April 29.

Press Release article 7 of 11, Source: HongKong Stock Exchange, 68 words

March 28: China Construction Bank: Final Dividend for the year ended 31 December 2023

Issuer name China Construction Bank Corporation

Stock code 00939

Multi-counter stock code and currency Not applicable

Other related stock code(s) and name(s)

40284 CCB B3006

04432 CCB B3201

Title of announcement Final Dividend for the year ended 31 December 2023

Announcement date 28 March 2024

Status New announcement

Source: HongKong Stock Exchange

Press Release article 8 of 11, Source: HongKong Stock Exchange, 141 words

March 28: China Construction Bank: Announcement of Annual Results 2023

The board of directors (the "Board") of China Construction Bank Corporation (the "Bank") is pleased to announce the audited results of the Bank and its subsidiaries (the "Group") for the year ended 31 December 2023, which have been prepared in accordance with the applicable disclosure provisions of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Listing Rules of Hong Kong Stock Exchange") and International Financial Reporting Standards ("IFRS") promulgated by the International Accounting Standards Board. The annual results for the year 2023 have been reviewed by the audit committee of the Board of the Bank, and the external auditors of the Bank have provided audit report with unqualified audit opinion.

Source: HongKong Stock Exchange

Press Release article 9 of 11, Source: HongKong Stock Exchange, 137 words

March 28: China Construction Bank: Announcement on the Resolutions of the Meeting of the Board of Supervisors (28 March 2024)

The meeting of the board of supervisors (the "Meeting") of China Construction Bank Corporation (the "Bank") was held onsite on 28 March 2024 in Beijing. The Bank issued the written notice of the Meeting on 18 March 2024. Over half of the supervisors jointly proposed Mr. Lin Hong, supervisor of the Bank, to convene and chair the Meeting. 5 supervisors were eligible to attend the Meeting and all of them attended the Meeting in person. The Meeting was convened in compliance with the Company Law of the People's Republic of China, the Articles of Association of China Construction Bank Corporation and other rules.

Source: HongKong Stock Exchange

Press Release article 10 of 11, Source: HongKong Stock Exchange, 93 words

March 21: China Construction Bank: Announcement Notification of Board Meeting

The board of directors (the "Board") of China Construction Bank Corporation (the "Bank") hereby announces that a meeting of the Board of the Bank will be held on 28 March 2024 for the purpose of, among other things, considering and approving the annual results of the Bank for the financial year ended 31 December 2023, and considering the payment of dividends. Announcement of the captioned matter is hereby given.

Source: HongKong Stock Exchange

Press Release article 11 of 11, Source: HongKong Stock Exchange, 132 words

March 04: China Construction Bank: Announcement on the Acceptance of Application for Infrastructure Public REITs

Reference is made to the announcement of the Bank dated 13 October 2023, in relation to (i) CCB Housing, a subsidiary of the Bank, as the originator carries out a pilot project for infrastructure public REITs with the government-subsidised rental housing projects held by CCB Housing; and (ii) the Project constitutes a spin-off under PN15, and the Hong Kong Stock Exchange has confirmed that the Bank may proceed with the Proposed Spin-off and agreed that the Bank was granted a waiver from strict compliance with requirements of paragraph 3(f) of PN15. The CSRC and the SSE have accepted the application for the Project.

Source: HongKong Stock Exchange

SECTION 3 TODAY'S BULLISH SIGNALS

Price/Earnings:

China Construction Bank - H Shares stock is trading at the lowest P/E multiple in the Hang Seng.China Construction Bank - H Shares stock is the seventh highest dividend yielding stock in the Hang Seng.

3.1 Relative Value Indicators: Undervaluation compared with Index averages and bond yield

- Earnings yield of 29.1% is more attractive compared with the Hong Kong average earning yield of 21.2%.

- The earnings yield of 29.1% is 7.5 times the 10-year bond yield of 3.9%.

(All figures in %)

Earnings Yield29.1
Hong Kong avg21.2
Dividend Yield8.9
Bond Yield3.9

Dividend Yield > Bond Yield of 3.88%:

The dividend yield of 8.87% is 2.29 times the triple-A bond yield of 3.88%. The times factor of 2.29 is above the benchmark factor of 0.67 times set by Benjamin Graham.

(All figures in %)

Dividend Yield8.87
Bond Yield3.88
Spread4.99

The Dividend Yield of 8.9% is better than the Index average of 5.5%

- The relative yield of the stock, defined by its yield of 8.9%, divided by average yield of dividend yielding stocks in the Hang Seng of 5.5% is 160.1%. This suggests the stock is undervalued in dividend yield terms.

3.2 Rank in the top 22% by Relative Valuation in the Hong Kong market

DescriptionValueRank
P/E * P/NTA1.27In Top 6%
Price/Earnings3.4In Top 15%
Dividend Yield %8.9%In Top 22%

3.3 Falling open interest with falling price

Open Interest Trend

Same day trend: The price fallen 1.2% from HKD4.82 to HKD4.76; Open interest has fallen 0.02% from 5,145 to 5,144. A fall in price combined with a decline in open interest suggests long position holders are being compelled to liquidate their positions and the market is strengthening. This is a bullish signal awaiting a turning point when long position holders have completed their selling.

DurationOpen Interest change %Price change %Interpretation
1-day-0.02-1.2Market is Strengthening

3.4 Uptrend

Price/Moving Average Price of 1.06 and positive MACD:

- The Price/MAP 200 for China Construction Bank - H Shares is 1.06. Being higher than 1 is a bullish indicator. It is higher than the Price/MAP 200 for the Hang Seng of 0.94, a second bullish indicator. The stock is trading above both its MAPs and the 50-day MAP of HKD4.80 is higher than the 200-day MAP of HKD4.49, a third bullish indicator.

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 4.83 minus the 26-day EMA of 4.82 is positive, suggesting a bullish signal.

3.5 Other Bullish Signals

- Return on Equity of 11.2% versus sector average of 9.3% and market average of 8.1%.

- Net profit margin has averaged 40.2% in the last 3 years. This is considered superior and suggests a high margin of safety.

- As per the Du Pont analysis, Return on Equity of 11.2% is better than sector average of 9.3%. This is computed as net profit margin of 42.6% times asset turnover [sales/assets] of 0.02 times leverage factor [total assets/shareholders' equity] of 12.0.

SECTION 4 ONGOING BULLISH PARAMETERS

4.1 Rank in the top 99% by Liquidity in the Hong Kong market

DescriptionValueRank
Ave daily turnoverHKD1.4 billion ($180 million)In top 99%

4.2 Rank in the top 9% by Performance in the Hong Kong market

DescriptionValueRank
Net Profit Margin %42.6In Top 8%
EBITDA Margin %50.4In Top 9%

4.3 Present Value of HKD1000 Invested in the Past [3 Mo, 1 Yr, 3 Yrs]; The Best Periods with PVHKD1000 > 1,028

PVHKD1,0003 mo ago1 yr ago3 yrs ago
00939.HKHKD1,070HKD1,056HKD1,029
Bank sectorHKD1,075HKD953HKD859
Hang SengHKD1,030HKD795HKD561

4.4 Past quarter: price rise of 7%

3-Month price change of 7% for China Construction Bank - H Shares outperformed the change of 6.4% in the Hang Seng Index for a relative price change of 0.6%.

Price Change %Quarter
China Construction Bank - H Shares7
Bank sector7.5
Hang Seng Index6.4

4.5 EPS growth [FY2022 vs FY2021] of 7.6%:

FYEPS (CNY)Growth %
20221.287.6
20211.1912.3

4.6 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 5.4%

TSR %1 yr10 yrs
00939.HK5.58.2

4.7 P/E/G < 1

The price earnings ratio of 3.4 divided by trailing twelve months eps growth of 7.6% corresponds to an attractive P/E/G of 0.5 times; being less than the value benchmark of 1.0.

EPS Growth (%)7.56
P/E/G0.45
P/E3.44

4.8 Improved EBIT Margins:

EBIT margin is positive and has increased from 49.5% to 50.4% in the past year.

FYEBIT Margins (%)
202250.4
202149.5
202047.1

4.9 Satisfies one criterion of Benjamin Graham

- The P/E of 3.4 multiplied by the P/NTA of 0.4 is 1.3. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.

SECTION 5 TODAY'S BEARISH SIGNALS

5.1 PAST WEEK: STRONG MOMENTUM DOWN

00939 decreases 2.5% on high volume 2.4 times average. Compared with the Hang Seng which fell 579.1 points (or 3.4%) in the week, the relative price increase was 1.0%.

The price ranged between a low of HKD4.76 on Tuesday Apr 16 and a high of HKD4.92 on Wednesday Apr 10.

AprChina Construction Bank - H SharesClose [HKD]Change %Comment
Tue 16Drops 1.2% on strong volume4.76-1.2VI*=3.1
Mon 15Increases 0.4% against the trend4.820.4VI*=1.6; RPC=1.1%
Fri 12Down 2.4% in 2 days4.8-1.8Steepest Fall; VI*=2.96
Thu 11Offers dividend yield of 8.6%4.89-0.6VI*=1.998
Wed 10In 3rd consecutive rise4.920.8Top Rise; VI*=2.5

* RPC - Relative Price Change is % price change of stock less % change of the Hang Seng Index.

[Volume Index (VI); 1 is average]

5.2 Downtrend

Past Month:

- Falls to Rises: In the past month the number of falls outnumbered rises 11:7 or 1.6:1.

SECTION 6 ONGOING BEARISH PARAMETERS

6.1 Rank in the bottom 17% by Growth in the Hong Kong market

DescriptionValueRank
EPS Growth %7.6In Bottom 17%

6.2 Annualised Period-based Total Shareholder Returns [TSR %]: The Worst Periods with TSR < 4.2%

TSR %3 yrs5 yrs
00939.HK0.94.1

6.3 Declining Volume, down 67% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has decreased 67.4% to 119.1 million shares.

Avg. Daily Volume Traded 12 months ended Apr 16, million shares

YearADVT
2024119.1
2023248.2
2022250.1
2021305.7
2020365.7

6.4 Declining VWAP, down 14% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has decreased by 14.3% to HKD4.59.

Past five years, 12 months ended Apr 16 (HKD)

YearHigh PriceVWAPLow Price
20245.224.594.01
20235.44.593.75
20226.035.234.61
20216.175.444.51
20205.925.354.8

6.5 Declining share turnover, down 29% in 5 years

In the past five years, average daily share turnover has decreased 28.7% to HKD1.4 billion ($176.2 million). This suggests decreased liquidity.

Past five years, 12 months ended Apr 16 (HKD billion)

YearAverage Daily Turnover
20241.4
20231.1
20221.3
20211.6
20201.9

6.6 Satisfies 4 out of 9 criteria of Joseph Piotroski [pass mark 5]:

- Positive net income.

- Positive operating cashflow.

- Good quality of earnings [operating cashflow exceeds net income].

- Total shares on issue unchanged.

But does not meet the following 5 criteria of Joseph Piotroski:

- Return on Assets improvement.

- Improvement in long-term debt to total assets.

- Improvement in current ratio.

- Improvement in gross margin.

- Improvement in asset turnover.

SECTION 7 CORPORATE PROFILE

7.1 Activities

China Construction Bank is a leading commercial bank in China providing a comprehensive range of commercial banking products and services. Their business consists of three principal business segments: corporate banking, personal banking, and treasury operations. It is Hong Kong's largest Bank by market capitalisation.

7.2 Contact Details

Websitehttp://www.ccb.com
Physical AddressNo 25 Finance Street Xicheng District Beijing 100032 China
Phone(852) 2532-9637
Fax(852) 2523-8185
Emailir@ccb.cn

7.3 Industry & Sector [of 366 stocks]

Classification LevelName of Sector
Business SectorBanking & Investment Services
Industry GroupBanking Services
IndustryBanks
ActivityBanks - NEC*
Economic SectorFinancials

* NEC: Not elsewhere classified

SECTION 8 BANK METRICS

8.1 Bank Metrics (FY2022)

All values are in CNY billion

DescriptionFY2022FY2021Change
Interest Income1,169.9 1,057.3 Up 10.6%
Interest Expense526.8 451.9 Up 16.6%
Net Interest Income643.1 605.4 Up 6.2%
Bank Other Revenue61.3 68 Down 9.8%

Favourable Changes:

- Interest Income up 10.6% from CNY1,057.3b to CNY1,169.9b

- Net Interest Income up 6.2% from CNY605.4b to CNY643.1b

Unfavourable Changes:

- Interest Expense up 16.6% from CNY451.9b to CNY526.8b

- Bank Other Revenue down 9.8% from CNY68b to CNY61.3b

SECTION 9 DIVIDEND

9.1 Dividend History

In the past 5 years annual dividends have increased by 7.3c from 34.9c to 42.2c. Based on a start date of 5 years ago, there has been one decline in dividends over the last 5 years.

Date PaidValue (c)Type
06 Jul 202342.23Final
Tr 12 Months42.23
2022 - 202342.27
2021 - 202239.19
2020 - 202135.09
2019 - 202034.91

SECTION 10 TOP MANAGEMENT AND BOARD OF DIRECTORS

10.1 Top Management

Top Management [Two top executives with tenure > 5 yrs]

NameDesignationSince Appointment
Guiping LiuExecutive Director, Vice Chairman5 Yrs, 3 Mos
Yanmin JinChief Risk Officer5 Yrs, 3 Mos

Top Management [Five top executives with tenure < 5 yrs]

NameDesignationSince Appointment
Jiajin LyuExecutive Director4 Yrs, 3 Mos
Changmiao HuCompany Secretary4 Yrs, 3 Mos
Li YunExecutive Vice President2 Yrs, 5 Mos
Pang XiushengChief Financial Officer-
Min ZhangExecutive Vice President-

10.2 Board Of Directors

Board Of Directors [Ten directors with tenure > 5 yrs]

NameDesignationSince Appointment
Graeme WheelerIndependent Director5 Yrs, 3 Mos
Jianian ZhongIndependent Director6 Yrs, 3 Mos
Malcolm Christopher McCarthyIndependent Director7 Yrs, 3 Mos
Carl WalterIndependent Non-Executive Director8 Yrs, 3 Mos
Wanmei FengIndependent Non-Executive Director8 Yrs, 3 Mos
Hailin ZhuNon-Executive Director7 Yrs, 3 Mos
Yang XiaNon-Executive Director5 Yrs, 3 Mos
Bo TianNon-Executive Director5 Yrs, 3 Mos
Qi ZhangNon-Executive Director7 Yrs, 3 Mos
Bing FengNon-Executive Director7 Yrs, 3 Mos

Board Of Directors [One director with tenure < 5 yrs]

NameSince Appointment
Michel Madelain4 Yrs, 3 Mos

SECTION 11 TOP SHAREHOLDERS

Top 7 shareholders

Name of the Share HolderNumber Of Shares% of Capital
THE HONGKONG AND SHANGHAI BANKING3002812325312.5
CHINA SECURITIES DEPOSITORY AND CLEARING218298926459.1
JPMORGAN CHASE BANK, NATIONAL105302786114.4
CITIBANK N.A.77173959683.2
DBS BANK LTD45438873461.9
STANDARD CHARTERED BANK (HONG KONG) LTD38707188501.6
BANK OF CHINA (HONG KONG) LTD28369243751.2

% held by Top 7 shareholders 33.9%

APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER

00939: EXPORT DATA TO EXCEL:

+ PRICE VOLUME - 5-YEAR HISTORY

+ PEER COMPARISON

+ PATENTS - CATEGORISED LIST OF 5-YEAR HISTORY OF 1 :

00939: OTHER INFORMATION:

+ NEWS ARCHIVES - 00939 PAST 4 YEARS:

+ PRICE VOLUME CHARTS

+ USD vs HKD EXCHANGE RATE CHARTS IN HTML

+ BOARD OF DIRECTORS

APPENDIX II STOCK IDENTIFIERS

ISIN: CNE1000002H1

PermID: 55838741041

RIC: 0939.HK

LEI: 5493001KQW6DM7KEDR62

GLOSSARY

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Current Ratio: Current Assets/Current Liabilities (times)

Dividend Yield: Dividend Per Share/Share Price (%)

EBIT Margin : Earnings Before Interest and Tax/Revenue (%)

Earnings Yield: Earnings Per Share/Share Price (%)

Income during the n years (3/2/1): Dividends received during the Period

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price Close/Moving Avg Price: Latest Price/Moving Average Price

Price/Earnings: Share Price/Earnings Per Share (times)

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Return on Assets: Net Profit/Total Assets (%)

Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)

TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend

TTM: Trailing 12 Months

Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.

Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.

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