CICC 3908

[winston]

not vested

CICC (03908.HK) 1-3Q NP RMB7.454B, Up 52.4%

2021/10/29

CICC (03908.HK) announced that in accordance with the Chinese Accounting Standards for Business Enterprises, net profit burgeoned 52.4% YoY to RMB7.454 billion for the first three quarters ended September 30, 2021.

EPS equaled RMB1.491.

Dividend History
Announce Date Event Particular
2021/08/27 Interim No Dividend
2021/04/29 Quarter 1 No Dividend
2021/03/30 Final D:RMB 0.1800(equivalent to HKD 0.2170)
2020/10/29 Quarter 3 No Dividend

Source: AAStocks Financial News

[winston]

CICC Annual Net Profit RMB10.778B, Up 49.5%; Final Div RMB3 for 10 Shrs

CICC (03908.HK) announced annual result ended December 2021.

The net profit amounted to RMB10.778 billion, up 49.5% YoY.

EPS was RMB2.159.

A final dividend of RMB3 per 10 shares was declared.

Dividend History
Announce Date Event Particular
2021/10/28 Quarter 3 No Dividend
2021/08/27 Interim No Dividend
2021/04/29 Quarter 1 No Dividend
2021/03/30 Final D:RMB 0.1800(equivalent to HKD 0.2170)

Source: AAStocks Financial News

[winston]

vested

1Q Results

Revenue: -15%
EPS: -15%

http://iis.aastocks.com/20220429/10239736-0.PDF

[winston]

vested

China International Capital (3908 HK): <Earnings first take> 1H results below expectation due to weaker-than-expected growth [BUY, TP HK$25.00]

Dragged by 38% y-o-y decline in investment income, 1H earnings was down by 23% y-o-y to reach Rmb3,842mn, representing 35% of our/cons. FY22F net profit

The tumbling investment income was mainly due to decline in market value of equities subscribed under the following-investment mechanism on STAR market IPO deals

While the slump in investment income was the expected earnings drag, investment banking and asset management also did not perform as expected

Yet, we believe the market has largely priced in the relatively weak earnings in 1H, as CICC was the worst share-price performer this year among the six brokers under our coverage with YTD decline by 33% (Average: 25%)

We currently have BUY rating with TP at HK$25, and will provide more updates after attending analyst call tomorrow.

Source: DBS

[winston]

vested

BofAS: CICC's Rights Issue Largely Positive, Rating Buy

CICC (03908.HK) announced that it proposed Rights Issue of A and H Shares concurrently on the basis of three Rights Shares for every ten Shares, reported BofA Securities.

The total proceeds raised from the Rights Issue are expected to be RMB27 billion, which are proposed to be used for capital replenishment on business growth and daily operation.

As of the end of June 2022, the capital and liquidity ratios of CICC were significantly above the regulatory requirements, but were at the lower end compared to those of its peers.

BofA Securities agreed that it is better to be prepared in a tepid market, than becoming short of funds amid a bull market. The target price for the stock was kept at $24.5, with a Buy rating.

Source: AAStocks Financial News

[winston]

not vested

3Q Results:-

Revenue: +0%
EPS: -13%

https://www1.hkexnews.hk/listedco/listc ... 801083.pdf

[winston]

not vested

China International Capital Corp (3908 HK)
Recapitalise for growth
TP: HK$25

9M22 earnings -19%, in line with peers, with growth in investment banking (IB) fee income partially offsetting fall in investment income

Expect strong FY23F earnings rebound of 25% y-o-y, riding on the expected full adoption of registration-based listing and normalised investment income

Proposed equity replenishment to unlock growth in high-return on equity (ROE) businesses, with dilution possibly less than expected

Source: DBS

[winston]

not vested

China International Capital Corp (3908 HK)
Re-rating due to international business rebound

Expect re-rating to be catalysed by stronger HK IPO recovery and resurging foreign interest in China market

Poised to stand out upon full registration reform, thanks to strong sponsor and PE franchise

Strong risk management in place to reap stable benefits from the multi-year growth in A-share institutionalisation

Target: HK$21.50

Source: DBS

https://www.dbs.com/insightsdirect/comp ... ecid=13796