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Fundamental Analysis &
Analyst Recommendations
Hang Seng Mainland 100 -
100 largest companies which derive the majority of their sales revenue (or profit or assets if more
relevant) from mainland China, including H shares, Red Chips and shares of otherHong Kong-listed
Mainland companies.
May 2013
Q.M.S Advisors
Q.M.S Advisors | Avenue de la Gare, 1 1003 Lausanne | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
This material does not constitute investment advice and should not be
viewed as a current or past recommendation or a solicitation of an
offer to buy or sell any securities or to adopt any investment strategy.
Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD)
Minority
Interest
(USD)
Cash and
Equivalents
(USD)
Enterprise
Value
(USD)
Tot. Rev. -
LFY
Est. Tot.
Rev. - Tr.
12M
Est. Tot.
Rev. - 2013
Est. Tot.
Rev. - 2014 EBITDA - LFY
Est. EBITDA -
Tr. 12M
Est. EBITDA -
2013
Est. EBITDA -
2014 EPS - LFY
Est. EPS -
Tr. 12M
Est. EPS -
2013
Est. EPS -
2014
P/E Ratio -
LFY
Est. P/E
Ratio - Tr.
12M
Est. P/E
Ratio - 2013
Est. P/E
Ratio - 2014
Est.
Revenue
Growth - 1Y
Est.
Revenue
Growth - 5Y
Est. EBITDA
Growth - 1Y
Est. Est.
EBITDA
Growth - 5Y
Est. EBITDA
Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Rating
Moody's LT Credit
Rating Date
S&P 500 INDEX USD 14664995 1960.721 1107 1107 204 218 218 101.88 110.18 110.18 15.64 15.64 14.46 14.46 18.83
Euro Stoxx 50 Pr EUR 2665458 5644.23 4685 4685 751 783 783 212.38 307.58 307.58 21.91 18.23 15.13 15.13 20.12
NIKKEI 225 JPY 2754343 195.4507 193 193 18 22 22 5.03 6.89 6.89 0.29 0.28 0.21 0.21 0.11
FTSE 100 INDEX GBP 2770298 12036.34 9308 9308 1468 1668 1668 548.60 826.37 826.37 28.19 23.76 18.71 18.71 23.07
SWISS MARKET INDEX CHF 1069323 11302.06 4148 4148 879 844 844 422.09 560.69 560.69 21.41 18.40 16.12 16.12 22.77
S&P/TSX COMPOSITE INDEX CAD 1638689 17043.62 7901 7901 1862 2073 2073 795.38 870.10 870.10 15.16 15.16 13.86 13.86 24.48
S&P/ASX 200 INDEX AUD 1457007 6845.162 2833 2833 630 701 701 250.06 336.12 336.12 22.19 17.81 16.51 16.51 23.22
HANG SENG INDEX HKD 1731677 3400.73 1701 1701 364 405 405 274.80 269.60 269.60 1.37 1.50 1.40 1.40 2.97
MSCI EM USD 7701703 1416.96 7066542 7066542 196 195 195 85.16 95.99 95.99 12.07 13.13 10.70 10.70 19.56
CHINA CONSTRUCTION BANK-H HKD 208593 251808 250011 147 0 1 450 91935 92014 64985 72073 - - - - 0.10 0.10 0.11 0.11 0.82 - 0.80 0.75 3.09 - - - - A 29.11.2011 - -
CHINA MOBILE LTD HKD 220019 15563 20100 4 0 0 52 126.95 72210 72210 76257 80120 33087 33087 - - 0.83 0.83 0.81 0.78 1.35 - 1.38 1.43 0.79 1.17 -0.02 0.70 5.90 AA- 16.12.2010 WR 03.11.2005
IND & COMM BK OF CHINA-H HKD 233730 263220 349620 264 0 0 561 109571 110691 75124 83200 - - - - 0.09 0.09 0.09 0.10 0.79 - 0.78 0.72 2.67 1.91 - - - A 28.08.2012 - -
TENCENT HOLDINGS LTD HKD 63578 4940 1853 1 0 0 4 48.49 5656 5656 7476 9294 2264 2242 679 679 0.88 0.90 1.15 1.41 3.91 - 3.06 2.49 6.96 7.97 4.06 7.46 5.11 BBB+ 14.11.2011 Baa1 14.11.2011
BANK OF CHINA LTD-H HKD 130132 356119 279142 289 0 5 407 79771 79771 50747 55617 - - - - 0.06 0.06 0.07 0.07 0.74 - 0.73 0.69 2.63 1.78 - - - A 29.11.2011 - -
CNOOC LTD HKD 83299 66687 44646 7 0 0 17 56.40 31907 31907 32354 34662 15166 15166 - - 0.18 0.18 0.18 0.18 1.04 - 1.08 1.04 0.36 2.90 -0.15 2.45 6.12 AA- 16.12.2010 - -
PETROCHINA CO LTD-H HKD 249549 55777 183021 58 0 15 6 271.78 251159 261024 299875 313785 41935 - - - 0.08 0.08 0.09 0.10 1.63 - 1.38 1.28 -0.35 2.74 0.08 0.49 - - - - -
CHINA PETROLEUM & CHEMICAL-H HKD 97926 78686 86820 37 0 5 1 118.31 352230 352230 364921 377404 21848 21848 - - 0.09 0.09 0.11 0.12 1.18 - 1.01 0.96 1.41 2.34 -0.11 0.76 0.80 A+ 16.12.2010 - -
CHINA LIFE INSURANCE CO-H HKD 76935 38036 28265 18 0 0 9 47860 47860 55033 60707 - - - - 0.05 0.05 0.14 0.16 5.56 5.56 2.06 1.77 0.04 2.90 - - - AA- 16.12.2010 - -
PING AN INSURANCE GROUP CO-H HKD 55688 17662 7916 79 0 6 22 82.52 44008 44008 47122 53896 - - - - 0.33 0.33 0.47 0.54 2.49 2.49 1.73 1.50 3.25 13.53 - - - - - - -
CHINA OVERSEAS LAND & INVEST HKD 24957 13287 8173 8 0 0 5 27.41 8321 8321 10373 12206 2978 2978 - - 0.30 0.30 0.30 0.35 1.33 - 1.32 1.13 3.33 5.24 2.77 3.58 4.61 BBB+ 22.04.2013 - -
CHINA SHENHUA ENERGY CO-H HKD 66829 20268 19890 11 0 6 7 63.60 32246 32246 33748 36514 11341 11341 - - 0.32 0.32 0.31 0.32 1.14 1.14 1.16 1.12 2.53 3.26 0.48 2.09 4.53 - - - -
WANT WANT CHINA HOLDINGS LTD HKD 20964 8762 13228 0 0 0 0 2.64 433 433 528 629 104 104 - - 0.01 0.01 0.01 0.01 4.87 - 4.00 3.35 1.80 3.42 4.67 3.22 3.10 - - - -
AGRICULTURAL BANK OF CHINA-H HKD 142997 104266 324794 167 0 0 504 83737 83858 60528 67710 - - - - - 0.06 0.06 0.07 0.84 - 0.76 0.69 2.40 - - - - A 17.12.2012 - -
CHINA MERCHANTS BANK-H HKD 43149 21450 21577 79 0 0 124 22745 22760 16379 18668 - - - - 0.27 0.27 0.26 0.28 0.81 0.82 0.83 0.77 3.04 2.85 - - - BBB+ 06.12.2011 - -
HENGAN INTL GROUP CO LTD HKD 12701 3034 1229 1 0 0 1 12.96 2387 2387 2905 3460 685 685 - - 0.37 0.37 0.43 0.52 3.61 - 3.08 2.58 1.11 3.48 6.36 3.79 3.70 - - - -
BELLE INTERNATIONAL HOLDINGS HKD 13758 16863 8434 0 0 0 1 10.14 4234 4234 4890 5579 812 772 892 892 0.07 0.07 0.07 0.08 2.51 2.51 2.26 1.97 1.74 2.77 0.57 3.23 2.35 - - - -
CHINA PACIFIC INSURANCE GR-H HKD 29107 6463 9062 8 0 0 3 9.10 21537 21537 24536 27658 - - - - 0.08 0.08 0.14 0.17 4.84 4.86 2.62 2.21 0.97 2.81 - - - - - - -
CHINA TELECOM CORP LTD-H HKD 41296 44469 80932 13 0 0 4 41.57 36474 36474 40829 44589 9128 9268 - - 0.02 0.02 0.03 0.04 2.19 2.19 1.80 1.48 2.00 1.26 -0.77 -0.61 3.27 - - - -
CHINA MINSHENG BANKING-H HKD 43400 30060 28366 136 0 1 189 23118 24527 14985 17361 - - - - 0.17 0.18 0.18 0.20 0.72 - 0.72 0.66 4.17 4.24 - - - NR 11.07.2006 - -
BANK OF COMMUNICATIONS CO-H HKD 57312 33392 74263 134 0 0 172 34925 34967 21025 23309 - - - - - 0.11 0.11 0.11 0.71 - 0.76 0.73 3.08 2.60 - - - A- 06.12.2011 WR 02.12.1999
CHINA UNICOM HONG KONG LTD HKD 33825 20410 23565 18 0 0 2 43.03 32074 32074 36778 40672 9482 9482 - - 0.04 0.04 0.06 0.08 3.80 - 2.49 1.80 2.45 0.51 1.93 -0.14 3.81 - - - -
KUNLUN ENERGY CO LTD HKD 15748 17993 8051 4 0 2 3 19.59 4246 4246 5598 7093 1992 1992 2504 2504 0.11 0.11 0.13 0.15 2.33 - 1.92 1.65 3.50 8.43 3.59 7.37 6.05 - - - -
CHINA RESOURCES POWER HOLDIN HKD 15622 6069 4763 10 0 2 1 27.31 8045 8045 9348 10461 2360 2360 - - 0.22 0.20 0.26 0.28 2.06 - 1.64 1.48 0.37 3.41 4.41 3.29 3.78 BBB 19.04.2011 Baa3 14.09.2010
CHINA RESOURCES LAND LTD HKD 17645 5390 5827 7 0 1 3 22.59 5716 5716 7730 9460 1812 1802 - - 0.23 0.23 0.20 0.25 1.66 - 1.93 1.53 3.08 8.09 2.32 6.70 4.06 BBB 03.05.2011 Baa1 11.04.2013
LENOVO GROUP LTD HKD 9537 34514 10336 0 0 0 1 0.78 3811 4321 4394 4864 108 127 27 27 0.01 0.01 0.01 0.01 2.11 - 1.96 1.63 4.76 2.28 5.48 2.41 0.38 - - - -
TINGYI (CAYMAN ISLN) HLDG CO HKD 15461 6506 5593 0 0 0 0 2.20 1187 1187 1402 1603 129 129 - - 0.01 0.01 0.01 0.01 4.38 - 3.91 3.21 2.20 2.52 1.37 2.08 1.40 BBB+ 05.06.2012 - -
CHINA CITIC BANK CORP LTD-H HKD 30477 53125 46787 59 0 1 114 19810 19809 12704 14217 - - - - 0.08 0.08 0.09 0.10 0.68 0.68 0.63 0.58 3.93 3.54 - - - - - - -
GREAT WALL MOTOR COMPANY-H HKD 16176 5215 3042 1 0 0 1 12.54 5356 5356 6659 7833 971 971 - - - 0.24 0.29 0.34 1.84 - 1.52 1.31 5.56 6.18 7.61 - 2.34 - - - -
ANHUI CONCH CEMENT CO LTD-H HKD 16130 6615 5299 3 0 0 1 14.95 5866 5879 7104 7924 1454 1524 - - 0.14 0.15 0.21 0.24 2.42 2.56 1.73 1.51 -0.83 2.68 -5.13 2.13 3.34 - - - -
ENN ENERGY HOLDINGS LTD HKD 6265 3143 1083 1 0 1 5.89 2323 2323 2845 3468 476 476 528 528 0.18 0.18 0.23 0.27 3.31 - 2.63 2.20 2.53 2.98 3.48 3.50 2.64 BBB- 18.10.2012 Baa3 18.10.2012
CHINA COMMUNICATIONS CONST-H HKD 13670 25231 16175 19 0 1 12 24.37 37170 37551 42959 47152 3200 3235 3607 3607 0.09 0.10 0.11 0.12 1.00 1.02 0.91 0.81 0.06 1.67 2.21 2.11 1.11 - - - -
COUNTRY GARDEN HOLDINGS CO HKD 10335 15785 18230 5 0 0 2 11.49 5398 5398 6349 7451 1557 1557 - - 0.05 0.05 0.06 0.06 1.18 - 1.05 0.90 2.65 2.76 2.91 1.60 3.72 BB 03.09.2009 Ba3 23.03.2010
CHINA RESOURCES ENTERPRISE HKD 8234 3332 2401 2 0 2 2 10.14 16266 16266 18759 21651 920 802 - - 0.11 0.21 0.11 0.13 2.09 3.71 4.07 3.28 1.88 2.60 0.02 1.27 0.64 - - - -
DONGFENG MOTOR GRP CO LTD-H HKD 12834 10776 8616 2 0 0 4 8.65 15982 15982 17848 19439 1876 1876 - - 0.14 0.14 0.15 0.16 1.12 1.12 1.05 0.98 -0.73 2.00 -1.26 2.59 1.51 - - - -
CHINA MERCHANTS HLDGS INTL HKD 7882 2896 2491 2 0 1 1 10.77 1420 1420 1171 1222 574 574 694 694 0.17 0.20 0.22 0.25 2.06 - 1.85 1.65 2.11 5.86 0.53 2.44 5.21 BBB 17.02.2005 - -
BEIJING ENTERPRISES HLDGS HKD 8561 1768 1138 3 0 1 2 11.43 4583 4583 5335 6371 535 535 815 815 0.32 0.37 0.44 0.53 2.61 3.02 2.19 1.82 2.16 2.52 -0.07 1.57 1.50 A- 28.04.2011 - -
CHINA MENGNIU DAIRY CO HKD 5014 4578 1768 0 0 0 1 3.36 4649 4649 5371 6140 318 316 202 202 0.09 0.09 0.12 0.14 3.15 2.72 2.46 2.03 -0.45 1.37 -0.60 1.14 0.88 - - - -
HUANENG POWER INTL INC-H HKD 14958 10301 14055 17 0 1 1 28.10 17175 17175 18339 19376 3756 3750 - - 0.05 0.05 0.09 0.09 2.24 2.22 1.38 1.25 0.03 2.71 4.83 1.85 2.81 NR 14.04.2010 - -
BRILLIANCE CHINA AUTOMOTIVE HKD 6152 11268 5026 0 0 0 0 5.03 762 762 777 826 3 3 - - 0.06 0.06 0.08 0.09 2.12 - 1.61 1.34 -1.05 27.90 -12.12 -6.69 0.05 - - - -
AAC TECHNOLOGIES HOLDINGS IN HKD 5989 3766 1228 0 0 0 0 4.77 810 810 1071 1271 290 290 68 68 0.19 0.18 0.24 0.29 2.70 2.69 2.09 1.75 7.06 3.74 7.28 3.45 4.62 - - - -
PICC PROPERTY & CASUALTY -H HKD 15729 17177 12256 3 0 0 2 13.24 20997 20997 26312 29865 - - - - 0.11 0.11 0.12 0.13 1.20 1.20 1.11 1.02 2.45 2.31 - - - - - - -
CHINA NATIONAL BUILDING MA-H HKD 6372 57226 5399 20 0 2 1 25.34 11238 11238 14406 16361 3399 3399 - - 0.13 0.13 0.17 0.20 0.91 - 0.72 0.60 1.15 7.04 3.78 8.78 3.90 - - - -
SUN ART RETAIL GROUP LTD HKD 13325 3875 9540 0 0 0 1 9.71 10031 10031 11743 13976 671 677 - - 0.03 0.03 0.04 0.04 4.44 4.41 3.85 3.30 1.85 - 4.03 - 0.87 - - - -
CHINA OILFIELD SERVICES-H HKD 10483 4406 4495 4 0 0 2 11.08 2848 2848 3247 3507 1148 1148 - - 0.13 0.13 0.15 0.16 1.54 1.51 1.34 1.24 2.57 2.91 1.19 2.32 5.19 A- 20.12.2012 - -
CHINA COAL ENERGY CO-H HKD 13268 47417 13259 6 0 2 3 15.41 11248 11248 11720 13123 2267 2267 - - 0.09 0.09 0.08 0.08 0.91 0.91 1.01 0.94 -0.51 2.41 -0.95 1.97 2.60 - - - -
SHIMAO PROPERTY HOLDINGS LTD HKD 7481 6556 3473 5 0 1 2 9.82 3692 3692 5133 6101 1055 1019 - - 0.22 0.21 0.22 0.26 1.03 - 0.99 0.84 1.30 3.27 -0.36 2.71 3.70 BB- 09.07.2012 B1 15.12.2008
KERRY PROPERTIES LTD HKD 6512 1558 1439 4 0 2 2 10.36 4447 4447 4299 4627 910 910 - - 0.62 0.62 0.41 0.41 0.94 - 1.44 1.43 8.64 2.77 12.31 2.26 2.64 BBB- 16.11.1998 - -
JIANGXI COPPER CO LTD-H HKD 9704 11202 3463 3 0 0 3 7.90 20359 20359 19436 19859 897 908 - - 0.16 0.20 0.18 0.18 1.00 - 1.08 1.08 4.50 3.90 -2.56 0.16 0.57 - - - -
SINOPHARM GROUP CO-H HKD 7628 3274 2403 3 0 1 1 8.73 17496 17496 21493 26180 728 727 - - 0.10 0.11 0.13 0.16 2.88 3.18 2.39 1.95 4.23 - 4.84 5.65 0.54 - - - -
Valuation Measures I/II
Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD)
Minority
Interest
(USD)
Cash and
Equivalents
(USD)
Enterprise
Value
(USD)
Tot. Rev. -
LFY
Est. Tot.
Rev. - Tr.
12M
Est. Tot.
Rev. - 2013
Est. Tot.
Rev. - 2014 EBITDA - LFY
Est. EBITDA -
Tr. 12M
Est. EBITDA -
2013
Est. EBITDA -
2014 EPS - LFY
Est. EPS -
Tr. 12M
Est. EPS -
2013
Est. EPS -
2014
P/E Ratio -
LFY
Est. P/E
Ratio - Tr.
12M
Est. P/E
Ratio - 2013
Est. P/E
Ratio - 2014
Est.
Revenue
Growth - 1Y
Est.
Revenue
Growth - 5Y
Est. EBITDA
Growth - 1Y
Est. Est.
EBITDA
Growth - 5Y
Est. EBITDA
Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Rating
Moody's LT Credit
Rating Date
S&P 500 INDEX USD 14664995 1960.721 1107 1107 204 218 218 101.88 110.18 110.18 15.64 15.64 14.46 14.46 18.83
Euro Stoxx 50 Pr EUR 2665458 5644.23 4685 4685 751 783 783 212.38 307.58 307.58 21.91 18.23 15.13 15.13 20.12
NIKKEI 225 JPY 2754343 195.4507 193 193 18 22 22 5.03 6.89 6.89 0.29 0.28 0.21 0.21 0.11
FTSE 100 INDEX GBP 2770298 12036.34 9308 9308 1468 1668 1668 548.60 826.37 826.37 28.19 23.76 18.71 18.71 23.07
SWISS MARKET INDEX CHF 1069323 11302.06 4148 4148 879 844 844 422.09 560.69 560.69 21.41 18.40 16.12 16.12 22.77
S&P/TSX COMPOSITE INDEX CAD 1638689 17043.62 7901 7901 1862 2073 2073 795.38 870.10 870.10 15.16 15.16 13.86 13.86 24.48
S&P/ASX 200 INDEX AUD 1457007 6845.162 2833 2833 630 701 701 250.06 336.12 336.12 22.19 17.81 16.51 16.51 23.22
HANG SENG INDEX HKD 1731677 3400.73 1701 1701 364 405 405 274.80 269.60 269.60 1.37 1.50 1.40 1.40 2.97
MSCI EM USD 7701703 1416.96 7066542 7066542 196 195 195 85.16 95.99 95.99 12.07 13.13 10.70 10.70 19.56
CHINA RESOURCES GAS GROUP LT HKD 6233 2635 2224 2 0 2 6.60 2524 2524 3189 4107 490 490 - - 0.11 0.11 0.12 0.15 3.42 - 2.95 2.35 4.88 11.69 5.31 5.21 2.50 - - (P)Baa1 21.03.2012
TSINGTAO BREWERY CO LTD-H HKD 8658 1297 1351 0 0 0 1 6.11 3038 3122 3771 4318 360 - 156 156 0.14 0.17 0.20 0.23 4.01 - 3.50 3.03 1.49 1.59 -0.05 1.35 - - - - -
GUANGDONG INVESTMENT LTD HKD 6036 8924 6234 0 0 1 1 6.32 997 997 1066 1169 641 634 - - 0.07 0.07 0.07 0.07 1.77 - 1.89 1.76 1.03 1.04 0.84 0.81 8.20 - - - -
SINO-OCEAN LAND HOLDINGS HKD 3869 10293 5826 4 0 0 1 6.30 3693 3693 4254 4840 766 766 - - 0.09 0.09 0.06 0.07 0.79 - 1.14 0.93 5.67 - 3.27 4.01 2.67 - - - -
CHINA LONGYUAN POWER GROUP-H HKD 7415 12014 8036 8 0 1 1 13.65 2228 2228 2500 2877 1253 1482 - - 0.05 0.04 0.05 0.06 2.10 - 1.89 1.52 0.55 - 2.85 4.30 8.57 BBB+ 29.11.2012 - -
EVERGRANDE REAL ESTATE GROUP HKD 6546 52460 14991 8 0 0 2 11.12 8409 8409 10793 12420 1630 1947 - - 0.08 0.08 0.07 0.08 0.53 0.44 0.61 0.52 0.70 - -2.61 12.74 2.91 BB 29.11.2009 B2 10.01.2011
GEELY AUTOMOBILE HOLDINGS LT HKD 4157 26017 8259 0 0 0 1 3.28 3173 3173 3872 4563 451 451 - - 0.03 0.03 0.04 0.05 1.48 - 1.34 1.13 2.25 159.41 2.40 - 1.83 - - - -
LONGFOR PROPERTIES HKD 9070 3783 5429 4 0 0 2 9.41 3594 3594 5783 6430 1249 1249 - - 0.15 0.16 0.15 0.18 1.10 - 1.12 0.97 2.03 - 1.86 8.90 4.48 BB+ 02.03.2011 Ba2 20.03.2013
CHINA GAS HOLDINGS LTD HKD 4504 3859 4383 2 0 0 1 5.93 2440 2524 2772 3354 371 391 - - 0.03 0.04 0.04 0.05 3.12 - 3.09 2.66 2.50 8.30 3.07 6.97 2.00 - - - -
COSCO PACIFIC LTD HKD 3691 6364 2786 0 0 0 0 0.77 95 95 104 114 51 51 58 58 0.02 0.02 0.02 0.02 1.36 - 1.22 1.06 2.93 2.57 3.06 2.22 6.89 - - - -
NEW CHINA LIFE INSURANCE C-H HKD 11966 1649 3120 10 0 0 25 14615 14615 16572 18642 - - - - - 0.12 0.18 0.22 3.14 - 2.09 1.73 0.60 - - - - - - - -
CHINA RAILWAY GROUP LTD-H HKD 9952 37351 21300 24 0 1 9 22.73 60405 60220 66185 71168 2530 2528 2729 2729 - 0.04 0.05 0.05 1.21 - 1.10 1.00 0.77 2.97 0.45 2.84 0.54 BBB+ 23.01.2013 - -
HAITONG SECURITIES CO LTD-H HKD 16231 15825 9585 3 0 0 7 9.70 1272 1272 1579 1922 654 654 722 722 - 0.04 0.06 0.07 3.47 - 2.63 2.12 -0.57 0.56 0.19 -1.05 6.62 - - - -
YANZHOU COAL MINING CO-H HKD 9322 17850 4918 6 0 0 2 12.91 7492 7566 7091 7788 1252 1206 - - 0.18 0.15 0.08 0.10 0.70 - 1.26 1.11 2.35 4.11 -4.83 1.39 2.05 BBB- 27.04.2012 Baa3 27.04.2012
CHOW TAI FOOK JEWELLERY GROU HKD 13452 3252 10000 2 0 0 1 14.28 7289 7289 7721 9208 1204 1204 - - 0.09 0.09 0.07 0.09 1.96 1.92 2.36 1.91 7.92 - 7.84 - 2.13 - - - -
CITIC SECURITIES CO LTD-H HKD 22492 9972 11017 3 0 0 7 14.31 1788 1788 2100 2591 932 932 1081 1081 0.05 0.05 0.07 0.09 4.74 4.79 3.19 2.50 2.30 -1.24 24.46 -2.52 6.72 BBB+ 18.10.2012 - -
CITIC PACIFIC LTD HKD 4416 8145 3649 15 1 1 4 16.91 12018 12018 13142 15119 740 740 1255 1255 - 0.23 0.13 0.18 0.68 - 1.16 0.88 -0.48 1.93 -4.44 0.50 0.79 BB+ 18.07.2011 Ba1 06.04.2011
BYD CO LTD-H HKD 9047 3426 2354 2 0 0 0 11.08 5719 5719 6804 7410 585 585 - - 0.01 0.00 0.06 0.08 82.05 60.20 6.59 4.67 -0.54 1.95 -0.81 - 1.32 - - - -
GUANGZHOU AUTOMOBILE GROUP-H HKD 5749 6345 6435 1 0 0 2 4.18 1624 1636 2064 2351 -106 -101 - - 0.02 0.02 0.05 0.07 3.52 - 1.60 1.17 2.13 - 1.08 - -0.80 - - - -
HAIER ELECTRONICS GROUP CO HKD 4532 2630 2449 0 0 0 1 3.10 7166 7166 8090 9387 311 310 376 376 0.09 0.09 0.11 0.13 2.01 2.14 1.70 1.46 1.48 7.16 2.63 5.23 0.56 - - - -
AGILE PROPERTY HOLDINGS LTD HKD 4462 5449 3449 4 0 0 1 6.65 3875 3875 4334 4873 1375 1262 - - 0.16 0.19 0.18 0.20 0.71 - 0.73 0.65 4.00 3.32 - 4.35 5.47 BB 04.09.2006 Ba2 13.04.2011
ZIJIN MINING GROUP CO LTD-H HKD 9796 29322 21812 3 0 1 1 10.45 6169 6169 6392 6485 1373 1373 - - 0.03 0.03 0.03 0.03 0.98 1.00 1.04 1.09 2.78 3.71 -0.09 1.93 2.87 - - - -
WEICHAI POWER CO LTD-H HKD 7084 3728 1999 2 0 1 2 6.85 6182 6182 6991 7713 646 646 - - 0.17 0.19 0.23 0.27 1.85 2.41 1.52 1.30 -2.55 1.74 -5.29 0.43 1.35 - - - -
AIR CHINA LTD-H HKD 10921 8637 12892 13 0 0 2 17.38 12642 12488 14416 15939 2357 2362 - - 0.04 0.05 0.06 0.07 1.69 - 1.37 1.14 0.66 2.22 0.20 3.63 2.44 - - - -
KINGBOARD CHEMICAL HOLDINGS HKD 2324 2519 855 2 0 1 0 4.95 4805 4805 5194 5655 630 630 - - 0.31 0.32 0.37 0.42 1.11 - 0.95 0.83 0.26 1.81 -1.20 0.39 1.69 BBB- 15.06.2012 - -
GCL-POLY ENERGY HOLDINGS LTD HKD 3131 71435 15476 5 0 0 1 7.77 2880 2880 3186 3893 424 417 - - -0.02 -0.03 0.00 0.01 - - 2.09 -1.60 - -8.20 6.76 1.87 NR 03.02.2012 - -
XINYI GLASS HOLDINGS LTD HKD 2594 10914 3786 1 0 0 0 3.05 1261 1261 1521 1802 258 258 - - 0.04 0.04 0.06 0.07 2.16 - 1.53 1.24 2.44 3.65 0.49 2.50 2.64 - - - -
SHANGHAI INDUSTRIAL HLDG LTD HKD 3426 595 1080 5 0 2 3 7.49 2485 2485 2579 3049 693 696 818 818 0.23 0.41 0.31 0.36 1.00 2.13 1.33 1.13 3.72 15.44 4.91 2.83 3.61 - - - -
SHANDONG WEIGAO GP MEDICAL-H HKD 4297 6083 4476 0 0 0 0 3.28 475 475 586 712 129 - - - 0.03 0.03 0.04 0.04 3.41 - 2.80 2.30 2.06 2.84 - 4.54 - - - - -
SOHO CHINA LTD HKD 4301 4662 5080 3 0 0 3 3.97 1972 1972 1885 1227 1126 1126 - - 0.24 0.27 0.08 0.06 0.33 - 1.05 1.54 21.81 - 29.69 2.95 7.36 BB+ 26.10.2012 Ba1 27.11.2012
ALUMINUM CORP OF CHINA LTD-H HKD 7674 11030 13524 14 0 1 1 21.87 19261 19299 19601 20816 222 - 137 137 -0.07 -0.08 -0.04 -0.02 - - 0.35 2.64 -10.44 -5.06 - - - - -
CHINA TAIPING INSURANCE HOLD HKD 2906 1560 1706 6 0 1 2 7.88 8290 8290 9408 11031 - - - - 0.07 0.07 0.12 0.16 3.10 - 1.82 1.40 2.48 2.56 - - - BBB- 03.06.2009 - -
NINE DRAGONS PAPER HOLDINGS HKD 4044 6013 4663 4 0 0 1 6.59 3501 3770 4008 4533 576 652 - - 0.04 0.03 0.04 0.06 2.60 - 1.97 1.41 1.47 2.42 0.58 1.52 2.23 NR 14.06.2011 - -
CHINA EVERBRIGHT LTD HKD 2736 2828 1721 0 0 0 0 2.82 249 249 292 328 199 199 - - 0.09 0.09 0.14 0.16 2.40 2.36 1.46 1.25 5.54 15.81 6.35 0.01 10.27 - - - -
ZOOMLION HEAVY INDUSTRY - H HKD 9138 13018 7706 3 0 0 3 7.96 6160 6179 6585 7312 1278 1260 - - 0.12 0.12 0.13 0.14 0.84 - 0.82 0.73 0.41 4.03 -0.37 5.81 2.63 BB+ 16.03.2012 - -
FRANSHION PROPERTIES HKD 3128 2144 9161 4 0 1 2 5.82 2213 2213 2669 3350 794 794 - - 0.02 0.05 0.04 0.05 0.93 - 1.04 0.82 20.69 10.83 16.46 5.30 4.62 BB+ 29.11.2011 (P)Ba1 01.04.2011
SHOUGANG FUSHAN RESOURCES GR HKD 2070 35589 5302 0 0 0 1 1.82 728 728 720 769 423 423 - - 0.04 0.04 0.04 0.04 1.16 - 1.31 1.31 -2.69 437.54 -2.89 - 7.49 - - - -
INTIME DEPARTMENT STORE HKD 2386 4324 2003 1 0 0 0 2.36 503 503 610 763 157 166 - - 0.06 0.06 0.07 0.07 1.96 - 1.84 1.63 3.27 4.34 1.96 3.21 4.26 BB 25.04.2013 - -
UNI-PRESIDENT CHINA HOLDINGS HKD 3914 9501 3599 1 0 0 0 3.33 2758 2758 3371 4032 211 258 283 283 0.03 0.03 0.04 0.05 3.63 - 2.80 2.47 3.40 2.78 15.34 1.65 1.21 - - - -
GOLDEN EAGLE RETAIL GROUP HKD 3340 4584 1935 0 0 0 1 2.40 467 467 540 637 230 229 - - 0.08 0.08 0.09 0.10 2.22 - 1.98 1.73 1.63 3.27 0.83 2.97 6.33 BBB- 25.04.2013 - -
CHINA AGRI-INDUSTRIES HLDGS HKD 2577 11425 5250 4 0 0 1 5.81 11767 11767 13951 16001 300 392 601 601 0.01 0.04 0.05 0.06 1.78 - 1.33 1.07 1.40 3.21 66.24 1.55 0.43 - - - -
CHINA RESOURCES CEMENT HKD 3755 9426 6519 3 0 0 0 6.23 3266 3266 3677 4159 663 663 - - 0.05 0.05 0.05 0.06 1.62 1.63 1.37 1.17 1.17 - -2.22 5.96 2.62 - - Aa1 05.11.2012
CHINA COSCO HOLDINGS-H HKD 5264 6759 10216 12 0 2 6 12.58 11381 11381 11159 11810 -958 - - - -0.12 -0.12 -0.02 0.01 - - 5.01 0.56 0.99 1.91 - - - - - -
CHINA SHANSHUI CEMENT GROUP HKD 1593 8874 2816 2 0 0 0 2.96 2082 2082 2335 2592 534 534 593 593 0.10 0.07 0.08 0.09 0.83 0.73 0.69 0.63 -0.54 - -1.69 4.66 3.31 BB 08.05.2011 - -
GOME ELECTRICAL APPLIANCES HKD 1696 22659 16873 2 0 0 1 2.12 6168 6168 7047 8106 -96 -96 - - 0.00 0.00 0.00 0.01 - 18.94 3.47 1.77 -2.57 0.49 - 3.17 -0.20 - - - -
ZHONGSHENG GROUP HOLDINGS HKD 2651 1214 1908 3 0 0 1 4.22 6449 6449 7846 9309 335 335 - - 0.05 0.05 0.09 0.13 2.83 2.85 1.55 1.10 2.50 - -1.98 5.17 0.67 - - - -
HUABAO INTERNATIONAL HOLDING HKD 1423 5942 3160 0 0 0 0 1.24 427 447 491 560 272 271 - - 0.07 0.07 0.07 0.08 0.84 - 0.84 0.76 2.07 2.78 1.48 3.81 7.82 - - - -
ANTA SPORTS PRODUCTS LTD HKD 2089 2258 2494 0 0 0 1 1.07 982 982 820 847 194 194 163 163 0.07 0.07 0.05 0.05 1.22 - 1.65 1.62 -1.85 2.44 -2.96 3.09 2.54 - - - -
CHINA YURUN FOOD GROUP LTD HKD 1085 5170 1823 1 0 0 0 1.67 3451 3451 4067 5118 10 10 - - -0.04 -0.04 -0.01 0.07 - - 1.16 -2.21 3.16 -12.47 -5.07 0.04 - - - -
PARKSON RETAIL GROUP LTD HKD 1521 8231 2810 0 0 0 1 0.89 586 586 692 765 172 171 - - 0.05 0.04 0.04 0.05 1.42 - 1.34 1.22 0.54 1.24 -3.03 1.12 3.76 BB+ 21.04.2011 (P)Ba1 21.04.2013
Valuation Measures I/II
Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth
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2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot
S&P 500 INDEX 2.23 2.23 2.05 1.87 2.23 1.44 1.44 1.38 1.33 1.44 10.03 10.03 9.39 9.69 10.03 9.01 9.01 8.34 7.81 9.01 14.46 14.46 13.01 11.80 14.46 2.18 2.18 2.34 2.52 2.18 1719.1 7.9%
Euro Stoxx 50 Pr 1.18 1.18 1.12 1.05 1.18 0.76 0.76 0.74 0.72 0.76 5.89 5.89 5.46 4.90 5.89 7.21 7.21 6.82 6.47 7.21 11.57 11.57 10.33 9.43 11.57 4.21 4.21 4.52 4.84 4.21 2915.9 7.1%
NIKKEI 225 1.57 1.57 1.47 1.41 1.57 0.74 0.74 0.72 0.71 0.74 9.11 9.11 8.48 8.25 9.11 8.93 8.93 8.32 7.94 8.93 20.64 20.64 16.38 14.55 20.64 1.51 1.51 1.72 1.87 1.51 13153.7 -5.1%
FTSE 100 INDEX 1.71 1.71 1.59 1.38 1.71 1.07 1.07 1.04 1.01 1.07 8.45 8.45 7.68 6.11 8.45 7.22 7.22 6.78 6.38 7.22 12.08 12.08 10.98 10.07 12.08 3.86 3.86 4.14 4.52 3.86 6931.4 7.5%
SWISS MARKET INDEX 2.41 2.41 2.26 2.06 2.41 2.04 2.04 1.94 1.85 2.04 12.46 12.46 11.35 10.03 12.46 13.40 13.40 12.40 11.60 13.40 15.09 15.09 13.54 12.32 15.09 3.24 3.24 3.59 4.10 3.24 8289.2 4.7%
S&P/TSX COMPOSITE INDEX 1.65 1.65 1.53 1.43 1.65 1.54 1.54 1.46 1.37 1.54 8.22 8.22 7.42 6.84 8.22 8.22 8.22 7.30 6.86 8.22 14.00 14.00 12.39 11.38 14.00 3.23 3.23 3.39 3.59 3.23 14254.0 15.8%
S&P/ASX 200 INDEX 1.97 1.97 1.87 1.77 1.97 1.89 1.89 1.78 1.69 1.89 11.76 11.76 10.47 9.56 11.76 9.77 9.77 8.63 7.97 9.77 15.97 15.97 14.26 13.07 15.97 4.24 4.24 4.53 4.88 4.24 5163.8 -0.5%
HANG SENG INDEX 1.35 1.35 1.24 1.14 1.35 1.72 1.72 1.59 1.47 1.72 8.08 8.08 7.58 7.25 8.08 8.39 8.39 7.65 7.05 8.39 10.87 10.87 9.98 9.03 10.87 3.56 3.56 3.85 4.24 3.56 24857.0 9.3%
MSCI EM 1.44 1.44 1.31 1.21 1.44 0.00 0.00 0.00 0.00 0.00 6.95 6.95 6.42 6.05 6.95 7.28 7.28 6.64 6.27 7.28 10.70 10.70 9.62 8.97 10.70 3.11 3.11 3.56 3.46 3.11 1190.5 15.9%
CHINA CONSTRUCTION BANK-H 1.37 1.20 1.06 0.93 2.82 2.55 2.30 2.05 4.49 6.07 6.30 6.37 6.70 6.24 5.81 5.26 5.17 5.42 5.79 6.57 7.34 13.0%
CHINA MOBILE LTD 1.88 1.70 1.56 1.44 2.42 2.29 2.18 2.05 1.87 5.99 5.90 5.84 6.04 3.90 3.84 3.77 3.64 10.79 10.74 11.12 10.94 9.21 4.05 4.08 4.01 4.08 86.13 1.4%
IND & COMM BK OF CHINA-H 1.36 1.17 1.03 0.90 2.71 2.47 2.23 2.01 4.47 5.56 5.86 5.86 6.53 6.04 5.60 5.10 5.37 5.65 6.09 6.85 6.54 19.7%
TENCENT HOLDINGS LTD 9.52 7.08 5.33 4.24 6.41 8.93 6.76 5.43 4.38 4.11 23.51 22.05 16.71 15.97 15.75 20.65 17.16 13.87 12.25 10.51 29.99 23.75 19.29 16.56 22.17 0.35 0.47 0.54 0.69 0.39 282.49 6.1%
BANK OF CHINA LTD-H 0.99 0.87 0.79 0.70 2.22 2.04 1.86 1.65 4.01 4.97 5.24 5.15 6.10 5.67 5.34 4.74 5.55 5.93 6.35 7.18 4.09 12.8%
CNOOC LTD 1.64 1.42 1.26 1.13 1.05 2.15 2.05 1.91 1.86 1.77 5.30 5.30 4.87 4.95 4.32 3.55 3.45 3.21 2.95 2.88 7.93 8.39 8.10 7.96 8.71 2.77 3.19 3.32 3.43 3.74 16.89 16.6%
PETROCHINA CO LTD-H 1.33 1.25 1.17 1.09 0.99 0.75 0.66 0.63 0.63 0.69 5.06 4.51 4.13 4.12 3.96 6.36 5.69 5.27 5.09 4.98 12.04 10.68 9.92 9.74 7.19 3.79 4.18 4.44 4.45 4.72 11.34 14.9%
CHINA PETROLEUM & CHEMICAL-H 1.15 1.06 0.96 0.89 0.75 0.23 0.21 0.21 0.19 0.26 3.80 3.45 3.38 3.30 3.04 5.49 4.66 4.37 4.10 3.80 9.65 7.81 7.46 7.31 6.81 3.59 4.49 4.70 4.82 4.60 9.82 15.7%
CHINA LIFE INSURANCE CO-H 2.24 1.94 1.74 1.49 1.25 1.11 1.01 0.96 42.85 16.01 13.74 11.06 0.99 1.88 2.27 2.71 25.46 20.1%
PING AN INSURANCE GROUP CO-H 2.49 2.11 1.82 1.52 1.03 0.94 0.82 0.72 17.35 13.43 11.64 9.84 0.91 1.13 1.37 1.81 76.49 24.5%
CHINA OVERSEAS LAND & INVEST 2.33 1.90 1.62 1.39 2.91 2.41 2.04 1.77 8.22 7.49 5.71 5.00 8.75 7.57 6.47 5.48 12.42 10.23 8.73 7.42 1.59 1.91 2.24 2.69 25.18 6.2%
CHINA SHENHUA ENERGY CO-H 1.69 1.52 1.39 1.24 1.19 1.73 1.57 1.45 1.40 1.45 6.47 6.04 5.47 5.34 5.81 5.48 5.08 4.78 5.86 9.21 9.02 8.72 8.28 10.85 4.19 4.34 4.53 4.73 3.62 34.71 26.5%
WANT WANT CHINA HOLDINGS LTD 13.10 11.01 9.27 8.17 5.94 5.11 4.30 3.65 31.08 24.38 21.42 19.57 25.67 21.06 17.77 15.14 38.66 31.08 25.98 22.01 1.58 2.02 2.40 2.90 11.41 -7.2%
AGRICULTURAL BANK OF CHINA-H 1.26 1.09 0.97 0.84 2.07 1.88 1.68 1.50 3.98 5.46 5.46 5.46 6.45 5.92 5.36 4.78 5.23 5.73 6.04 7.06 4.25 14.7%
CHINA MERCHANTS BANK-H 1.44 1.24 1.07 0.92 0.92 2.34 2.09 1.84 1.58 6.66 6.41 5.97 5.37 6.81 3.73 4.06 4.36 5.07 4.41 18.18 9.9%
HENGAN INTL GROUP CO LTD 7.14 6.24 5.53 4.90 5.06 4.37 3.67 3.11 27.63 22.88 18.78 16.51 19.97 16.80 14.16 12.14 28.13 23.88 20.00 17.40 2.19 2.55 3.02 3.46 84.08 4.8%
BELLE INTERNATIONAL HOLDINGS 3.76 3.27 2.83 2.51 2.55 2.23 1.96 1.73 18.59 17.31 15.10 13.37 12.53 11.37 9.86 8.74 19.23 17.52 15.26 13.36 1.65 1.75 2.01 2.75 14.81 17.0%
CHINA PACIFIC INSURANCE GR-H 2.15 1.94 1.78 1.56 1.09 0.94 0.84 0.75 34.36 20.32 17.11 14.49 1.16 1.71 1.97 2.64 33.63 20.5%
CHINA TELECOM CORP LTD-H 0.96 0.92 0.88 0.83 0.77 0.90 0.80 0.74 0.68 0.63 3.60 3.27 2.59 2.50 2.14 4.45 3.41 3.13 2.90 2.68 17.38 13.98 11.52 9.59 8.74 2.23 2.57 2.99 3.53 3.81 4.73 19.4%
CHINA MINSHENG BANKING-H 1.36 1.15 0.96 0.81 2.62 2.30 1.99 1.70 5.21 6.04 5.56 5.09 4.41 3.90 4.05 4.43 5.57 10.66 6.9%
BANK OF COMMUNICATIONS CO-H 0.96 0.85 0.77 0.68 2.41 2.17 1.95 1.72 3.80 5.45 5.77 5.70 5.93 5.92 5.63 5.04 3.55 4.18 4.47 5.08 6.46 4.6%
CHINA UNICOM HONG KONG LTD 0.98 0.95 0.90 0.85 0.82 0.83 0.73 0.66 0.61 0.50 3.27 2.51 2.34 2.25 2.01 4.55 3.95 3.56 3.19 2.99 30.10 19.32 14.00 10.97 10.06 1.49 1.94 2.59 3.46 2.82 13.70 23.0%
KUNLUN ENERGY CO LTD 2.68 2.39 2.07 1.84 1.59 3.52 2.81 2.22 1.91 1.45 9.14 7.76 6.78 5.82 9.60 7.83 6.58 5.78 6.09 16.96 14.88 12.79 11.24 9.35 1.59 1.90 2.22 2.52 3.36 17.78 17.2%
CHINA RESOURCES POWER HOLDIN 2.24 1.95 1.73 1.53 1.41 1.88 1.67 1.49 1.34 1.28 7.83 6.76 5.79 5.03 11.45 8.91 7.97 7.01 5.79 17.02 12.75 11.51 10.23 9.10 1.84 2.46 2.78 3.18 4.02 26.23 3.3%
CHINA RESOURCES LAND LTD 1.99 1.75 1.54 1.36 2.95 2.28 1.87 1.59 16.10 10.02 9.69 8.41 12.69 10.48 8.38 7.24 18.25 14.96 11.87 10.37 1.34 1.72 2.11 2.41 23.58 0.3%
LENOVO GROUP LTD 4.15 3.49 2.93 2.62 0.34 0.28 0.25 0.23 0.20 8.23 8.70 9.14 6.97 8.17 6.21 5.25 4.61 3.42 19.44 15.23 12.69 11.01 7.61 1.42 2.19 2.74 3.17 8.56 20.7%
TINGYI (CAYMAN ISLN) HLDG CO 6.17 5.69 5.03 4.48 1.62 1.42 1.24 1.11 10.47 10.31 8.48 10.09 14.07 13.05 11.05 9.50 34.12 30.37 24.90 21.59 1.66 1.56 1.95 2.24 20.68 -3.6%
CHINA CITIC BANK CORP LTD-H 0.81 0.71 0.64 0.56 2.12 1.91 1.70 1.51 2.92 4.96 5.42 5.11 4.84 4.88 4.51 3.92 5.07 4.84 5.27 6.31 5.01 14.7%
GREAT WALL MOTOR COMPANY-H 3.77 3.11 2.53 2.09 2.32 1.93 1.64 1.40 1.30 15.43 10.23 9.22 7.20 12.96 10.49 8.77 7.51 7.29 14.36 11.77 10.16 8.48 8.23 1.50 2.17 2.60 3.36 34.33 2.0%
ANHUI CONCH CEMENT CO LTD-H 2.39 2.08 1.82 1.61 1.39 2.14 1.80 1.62 1.50 1.42 10.54 9.68 8.95 7.98 9.56 7.35 6.50 6.19 7.16 18.33 13.45 11.75 10.95 11.60 0.99 1.38 1.59 1.75 1.10 30.10 7.1%
ENN ENERGY HOLDINGS LTD 4.46 3.70 3.15 2.77 2.70 2.11 1.75 1.43 1.18 1.34 14.23 12.73 10.71 7.52 12.86 11.16 9.63 8.44 7.61 24.48 20.41 17.05 14.40 15.58 1.03 1.22 1.51 1.93 2.61 44.16 -1.7%
CHINA COMMUNICATIONS CONST-H 1.14 0.99 0.90 0.77 0.29 0.25 0.23 0.21 9.63 5.86 5.30 4.71 7.71 6.76 6.06 5.38 8.26 7.05 6.27 5.62 2.96 3.41 3.76 4.10 8.85 19.1%
COUNTRY GARDEN HOLDINGS CO 1.75 1.48 1.28 1.10 1.61 1.29 1.10 0.98 16.03 15.67 7.39 8.76 7.74 6.34 5.37 4.87 9.66 8.17 6.95 6.26 3.75 4.43 5.01 5.61 4.62 5.0%
CHINA RESOURCES ENTERPRISE 1.67 1.48 1.39 1.33 0.50 0.44 0.38 0.33 8.82 6.03 6.76 4.94 8.96 8.42 7.31 6.58 34.19 31.55 25.48 20.80 1.94 1.55 1.84 1.79 25.20 -5.3%
DONGFENG MOTOR GRP CO LTD-H 1.48 1.27 1.11 0.94 0.63 0.57 0.52 0.48 0.45 7.84 5.13 5.71 4.11 4.63 4.11 3.82 3.51 9.29 8.13 7.59 6.60 6.20 1.64 1.81 1.94 2.33 13.30 15.0%
CHINA MERCHANTS HLDGS INTL 1.35 1.27 1.20 1.12 6.41 6.73 6.45 6.09 8.93 11.69 9.93 8.96 16.18 15.51 14.08 15.70 16.36 14.39 12.79 11.24 2.65 3.08 3.54 3.94 27.60 12.4%
BEIJING ENTERPRISES HLDGS 1.65 1.55 1.42 1.31 1.21 1.87 1.60 1.34 1.14 1.16 11.58 7.42 9.43 9.79 15.64 14.02 12.35 11.30 10.19 20.21 17.03 14.10 11.79 1.42 1.66 1.98 2.23 2.52 64.39 10.9%
CHINA MENGNIU DAIRY CO 2.41 2.25 2.03 1.83 0.81 0.74 0.65 0.58 12.42 10.44 8.92 6.51 9.65 8.56 7.15 6.06 21.94 19.10 15.72 13.48 1.01 1.17 1.45 1.87 24.66 12.9%
HUANENG POWER INTL INC-H 1.76 1.60 1.50 1.35 1.02 0.68 0.65 0.61 0.58 0.46 4.80 4.23 3.89 3.70 7.13 6.18 5.84 5.33 3.39 16.69 10.70 9.71 8.46 7.20 2.98 4.81 5.15 6.08 12.49 9.24 3.0%
BRILLIANCE CHINA AUTOMOTIVE 4.04 3.01 2.35 1.82 6.33 6.29 5.92 5.51 3.19 61.36 53.15 38.70 503.13 137.03 348.39 273.17 278.38 15.99 12.47 10.44 8.21 5.24 0.03 0.30 0.45 2.35 10.59 11.5%
AAC TECHNOLOGIES HOLDINGS IN 6.16 4.90 3.99 3.34 5.97 4.44 3.74 3.08 21.71 15.19 13.79 12.05 16.67 12.47 10.55 8.78 21.59 16.18 13.57 11.17 1.76 2.41 2.85 3.51 37.77 -0.2%
PICC PROPERTY & CASUALTY -H 2.16 1.80 1.52 1.24 0.50 0.47 0.42 0.38 9.45 8.60 7.92 6.87 3.21 2.79 3.03 3.79 12.22 22.7%
CHINA NATIONAL BUILDING MA-H 1.26 1.07 0.90 0.80 0.69 0.43 0.35 0.31 0.28 0.32 3.70 3.14 2.19 1.94 10.78 8.12 7.01 6.39 8.85 7.16 5.59 4.69 4.24 4.23 2.01 2.54 3.09 3.15 3.57 11.82 29.1%
SUN ART RETAIL GROUP LTD 4.90 4.45 3.99 3.49 1.03 0.90 0.76 0.67 0.52 13.60 12.87 10.25 10.04 14.39 12.34 10.48 9.01 34.45 29.90 25.63 21.80 14.35 1.14 1.21 1.43 1.64 11.13 2.7%
CHINA OILFIELD SERVICES-H 1.70 1.49 1.33 1.23 3.04 2.56 2.37 2.18 7.00 6.24 5.80 5.53 9.35 8.38 7.85 7.88 11.99 10.41 9.59 9.30 1.69 2.24 2.43 2.65 16.97 10.9%
CHINA COAL ENERGY CO-H 0.72 0.67 0.63 0.59 0.58 0.93 0.90 0.80 0.74 0.63 4.87 4.77 3.78 3.45 6.94 6.54 5.87 5.28 5.82 7.20 7.86 7.27 7.05 10.78 4.17 3.90 4.13 4.36 2.53 7.31 22.4%
SHIMAO PROPERTY HOLDINGS LTD 1.35 1.16 1.03 0.93 1.42 1.16 0.97 0.85 5.64 4.87 3.34 2.06 8.07 6.60 5.50 4.99 10.19 7.71 6.50 5.69 2.76 4.01 4.67 5.43 18.68 11.7%
KERRY PROPERTIES LTD 0.74 0.69 0.66 0.64 1.54 1.51 1.41 1.36 13.16 15.18 10.08 11.15 11.23 10.98 12.77 10.89 11.15 11.10 10.40 2.63 2.72 2.81 2.95 41.69 18.8%
JIANGXI COPPER CO LTD-H 0.96 0.88 0.82 0.76 0.47 0.40 0.39 0.39 9.57 6.83 6.78 6.35 7.98 8.03 7.83 8.54 8.01 8.38 8.37 9.09 3.14 3.31 3.26 3.16 18.24 21.3%
SINOPHARM GROUP CO-H 2.13 2.04 1.81 1.56 0.35 0.28 0.23 0.19 0.17 113.03 15.89 11.80 8.77 12.67 10.00 8.28 6.98 5.61 22.95 18.55 15.12 12.69 11.20 1.31 1.59 1.93 2.14 28.19 22.3%
Price to Earnings Ratio
Valuation Measures II/II
Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot
S&P 500 INDEX 2.23 2.23 2.05 1.87 2.23 1.44 1.44 1.38 1.33 1.44 10.03 10.03 9.39 9.69 10.03 9.01 9.01 8.34 7.81 9.01 14.46 14.46 13.01 11.80 14.46 2.18 2.18 2.34 2.52 2.18 1719.1 7.9%
Euro Stoxx 50 Pr 1.18 1.18 1.12 1.05 1.18 0.76 0.76 0.74 0.72 0.76 5.89 5.89 5.46 4.90 5.89 7.21 7.21 6.82 6.47 7.21 11.57 11.57 10.33 9.43 11.57 4.21 4.21 4.52 4.84 4.21 2915.9 7.1%
NIKKEI 225 1.57 1.57 1.47 1.41 1.57 0.74 0.74 0.72 0.71 0.74 9.11 9.11 8.48 8.25 9.11 8.93 8.93 8.32 7.94 8.93 20.64 20.64 16.38 14.55 20.64 1.51 1.51 1.72 1.87 1.51 13153.7 -5.1%
FTSE 100 INDEX 1.71 1.71 1.59 1.38 1.71 1.07 1.07 1.04 1.01 1.07 8.45 8.45 7.68 6.11 8.45 7.22 7.22 6.78 6.38 7.22 12.08 12.08 10.98 10.07 12.08 3.86 3.86 4.14 4.52 3.86 6931.4 7.5%
SWISS MARKET INDEX 2.41 2.41 2.26 2.06 2.41 2.04 2.04 1.94 1.85 2.04 12.46 12.46 11.35 10.03 12.46 13.40 13.40 12.40 11.60 13.40 15.09 15.09 13.54 12.32 15.09 3.24 3.24 3.59 4.10 3.24 8289.2 4.7%
S&P/TSX COMPOSITE INDEX 1.65 1.65 1.53 1.43 1.65 1.54 1.54 1.46 1.37 1.54 8.22 8.22 7.42 6.84 8.22 8.22 8.22 7.30 6.86 8.22 14.00 14.00 12.39 11.38 14.00 3.23 3.23 3.39 3.59 3.23 14254.0 15.8%
S&P/ASX 200 INDEX 1.97 1.97 1.87 1.77 1.97 1.89 1.89 1.78 1.69 1.89 11.76 11.76 10.47 9.56 11.76 9.77 9.77 8.63 7.97 9.77 15.97 15.97 14.26 13.07 15.97 4.24 4.24 4.53 4.88 4.24 5163.8 -0.5%
HANG SENG INDEX 1.35 1.35 1.24 1.14 1.35 1.72 1.72 1.59 1.47 1.72 8.08 8.08 7.58 7.25 8.08 8.39 8.39 7.65 7.05 8.39 10.87 10.87 9.98 9.03 10.87 3.56 3.56 3.85 4.24 3.56 24857.0 9.3%
MSCI EM 1.44 1.44 1.31 1.21 1.44 0.00 0.00 0.00 0.00 0.00 6.95 6.95 6.42 6.05 6.95 7.28 7.28 6.64 6.27 7.28 10.70 10.70 9.62 8.97 10.70 3.11 3.11 3.56 3.46 3.11 1190.5 15.9%
CHINA RESOURCES GAS GROUP LT 4.09 3.50 3.03 2.74 2.37 2.73 1.95 1.52 1.16 1.09 13.56 16.26 9.43 7.23 15.46 11.77 9.64 8.05 7.19 28.25 22.89 18.25 13.96 13.18 0.67 0.84 1.10 1.50 1.38 20.68 -4.9%
TSINGTAO BREWERY CO LTD-H 4.41 3.97 3.49 3.12 2.06 1.82 1.59 1.46 21.32 19.46 15.41 14.71 15.78 13.88 12.05 10.54 31.30 27.18 23.53 19.97 0.62 0.96 1.12 1.35 47.88 -8.0%
GUANGDONG INVESTMENT LTD 2.01 1.85 1.72 1.61 6.05 5.66 5.16 4.70 5.05 11.13 11.13 9.27 8.73 9.48 8.92 8.37 8.00 15.05 14.64 13.65 12.82 2.52 2.68 2.89 3.20 7.19 -4.3%
SINO-OCEAN LAND HOLDINGS 0.65 0.61 0.57 0.54 0.90 0.72 0.63 0.56 16.14 6.48 3.96 3.89 8.12 7.01 5.91 4.91 10.22 8.84 7.24 5.89 3.49 4.70 5.41 6.37 5.48 7.0%
CHINA LONGYUAN POWER GROUP-H 1.47 1.40 1.27 1.16 1.09 2.60 2.36 2.05 1.80 1.64 5.90 4.69 4.33 3.90 11.09 9.52 7.97 6.92 5.91 15.02 14.63 11.82 9.74 9.26 1.22 1.27 1.61 2.07 3.01 7.72 8.5%
EVERGRANDE REAL ESTATE GROUP 0.96 0.81 0.69 0.62 0.54 0.48 0.42 0.38 12.53 14.15 5.24 3.06 5.47 5.37 4.51 4.12 4.62 4.75 4.07 3.66 6.47 5.68 6.51 7.23 4.11 29.5%
GEELY AUTOMOBILE HOLDINGS LT 2.08 1.70 1.42 1.17 1.05 0.85 0.72 0.62 0.52 10.19 7.96 6.55 5.57 8.01 6.35 5.51 4.67 5.53 13.18 10.36 8.75 7.26 11.47 0.97 1.26 1.52 1.84 4.63 18.7%
LONGFOR PROPERTIES 1.90 1.58 1.35 1.16 1.74 1.25 1.12 1.01 228.79 65.16 13.76 7.13 6.68 5.59 4.68 9.84 8.67 7.56 6.58 2.01 2.19 2.68 3.04 15.31 18.1%
CHINA GAS HOLDINGS LTD 3.45 3.08 2.67 2.41 2.39 1.78 1.62 1.34 1.20 1.22 19.87 14.63 14.17 10.98 15.74 13.41 11.66 10.24 10.14 37.32 23.98 20.68 17.31 22.17 0.37 0.84 1.12 1.45 0.92 7.74 1.1%
COSCO PACIFIC LTD 0.94 0.87 0.81 0.76 5.04 4.59 4.15 3.84 7.79 7.32 6.59 4.73 14.23 13.18 12.43 12.39 10.11 9.46 8.23 7.66 4.00 4.15 4.83 5.13 13.14 27.8%
NEW CHINA LIFE INSURANCE C-H 1.99 1.77 1.57 1.41 0.63 0.57 0.51 0.44 22.21 16.20 13.39 11.66 0.95 0.99 1.15 1.26 32.69 13.3%
CHINA RAILWAY GROUP LTD-H 0.90 0.81 0.75 0.67 0.13 0.12 0.11 0.10 10.55 4.10 5.70 6.84 9.39 8.33 7.77 7.56 9.79 8.57 7.77 7.38 1.60 1.85 2.06 2.19 4.60 12.5%
HAITONG SECURITIES CO LTD-H 1.47 1.38 1.31 1.21 9.91 8.16 6.71 5.98 23.62 19.95 16.94 14.96 17.18 13.43 11.58 10.30 26.32 20.40 16.44 13.32 1.37 1.80 2.23 2.68 14.01 24.0%
YANZHOU COAL MINING CO-H 0.69 0.67 0.64 0.60 1.09 1.04 0.95 0.89 3.68 4.99 3.88 3.44 10.62 11.29 9.96 8.72 6.00 9.77 8.62 8.57 5.37 3.30 3.40 3.29 8.74 8.2%
CHOW TAI FOOK JEWELLERY GROU 3.43 3.08 2.66 2.27 1.87 1.74 1.46 1.24 0.89 15.63 34.12 28.06 12.65 13.79 11.10 9.10 16.19 18.35 14.79 12.13 2.40 1.39 1.69 2.01 12.28 17.6%
CITIC SECURITIES CO LTD-H 1.75 1.70 1.59 1.55 11.77 8.51 6.90 5.60 32.51 24.97 20.87 18.16 18.78 13.23 9.84 10.41 34.87 24.79 19.42 16.07 1.20 1.55 1.98 2.63 19.93 13.2%
CITIC PACIFIC LTD 0.41 0.41 0.39 0.38 0.33 0.34 0.29 0.25 6.98 5.49 4.10 13.37 13.47 10.45 7.54 7.35 8.97 6.83 5.40 4.23 4.79 4.87 4.93 10.56 12.5%
BYD CO LTD-H 2.43 2.26 2.12 1.63 1.19 1.06 0.97 0.82 15.00 9.26 8.19 7.01 20.09 15.70 13.95 10.80 536.70 51.17 36.25 18.60 0.06 0.05 0.09 0.79 17.61 -36.4%
GUANGZHOU AUTOMOBILE GROUP-H 1.07 0.98 0.92 0.84 2.78 2.21 1.94 1.72 1.79 203.37 72.63 31.78 23.22 12.40 9.05 8.52 9.97 1.26 2.26 3.25 3.72 5.93 -7.3%
HAIER ELECTRONICS GROUP CO 4.75 3.49 2.74 2.20 0.51 0.45 0.38 0.34 12.91 11.71 9.92 8.95 9.97 8.24 6.91 5.75 15.53 13.20 11.32 9.70 0.64 0.98 1.12 1.70 14.32 3.3%
AGILE PROPERTY HOLDINGS LTD 1.09 0.90 0.79 0.71 1.01 0.82 0.73 0.64 11.71 6.11 3.77 5.12 4.74 4.26 3.96 6.57 5.67 5.04 4.60 3.90 4.29 4.79 5.09 11.88 18.4%
ZIJIN MINING GROUP CO LTD-H 1.38 1.26 1.19 1.13 1.29 1.22 1.20 1.23 5.98 5.48 6.10 6.86 7.97 7.98 7.64 7.66 7.68 8.09 8.46 9.47 3.79 4.40 4.07 3.63 2.91 27.2%
WEICHAI POWER CO LTD-H 1.59 1.48 1.30 1.14 0.94 0.80 0.73 0.67 17.26 9.72 8.24 5.85 9.82 8.41 7.49 6.61 13.09 11.80 10.09 8.48 0.57 1.17 1.26 1.55 26.51 -2.0%
AIR CHINA LTD-H 1.29 1.17 1.05 0.93 0.66 0.60 0.54 0.51 4.24 3.18 2.95 2.82 7.87 6.50 5.84 5.46 15.12 10.66 8.81 7.52 1.18 1.58 1.88 1.96 7.16 14.0%
KINGBOARD CHEMICAL HOLDINGS 0.60 0.55 0.52 0.49 0.52 0.45 0.41 0.38 4.91 6.33 3.22 3.07 6.69 6.44 5.75 5.32 8.40 7.38 6.41 5.68 2.64 2.96 3.39 3.65 29.03 37.6%
GCL-POLY ENERGY HOLDINGS LTD 1.22 1.42 1.31 1.21 1.16 0.98 0.80 0.81 10.90 10.47 4.66 3.35 20.03 14.15 10.15 8.54 16.19 15.39 0.19 0.06 0.57 0.45 1.76 11.8%
XINYI GLASS HOLDINGS LTD 2.11 1.84 1.65 1.49 2.07 1.71 1.44 1.30 13.86 9.73 8.21 6.90 11.67 8.69 7.09 6.20 5.95 17.35 11.91 9.64 8.35 2.67 3.99 4.86 5.59 6.58 23.9%
SHANGHAI INDUSTRIAL HLDG LTD 0.81 0.77 0.72 0.70 1.52 1.33 1.12 0.96 13.74 7.40 8.53 10.17 9.16 7.82 6.16 12.11 10.34 8.75 8.52 4.44 4.38 4.51 4.39 28.44 15.6%
SHANDONG WEIGAO GP MEDICAL-H 3.03 2.73 2.45 2.18 6.83 5.83 4.80 4.08 3.69 23.86 20.62 15.14 12.08 22.78 19.02 15.42 12.75 24.56 21.76 17.88 15.41 14.43 1.01 1.18 1.47 1.66 7.60 2.0%
SOHO CHINA LTD 1.11 0.85 0.77 0.71 1.66 1.81 2.79 4.35 17.51 11.67 10.44 12.73 4.20 4.51 7.09 12.06 7.63 8.16 11.96 21.72 4.66 4.66 4.64 4.40 6.48 -3.2%
ALUMINUM CORP OF CHINA LTD-H 0.67 0.79 0.84 0.90 0.33 0.31 0.29 0.29 9.86 10.39 5.92 4.19 46.96 34.21 21.40 18.42 0.00 0.00 0.00 0.00 2.67 -8.9%
CHINA TAIPING INSURANCE HOLD 1.64 1.44 1.26 1.16 0.37 0.31 0.26 0.22 20.43 14.12 10.86 8.97 0.10 0.17 0.45 0.56 16.65 26.0%
NINE DRAGONS PAPER HOLDINGS 1.13 1.09 1.01 0.92 0.90 0.80 0.71 0.65 0.62 9.81 5.43 5.97 4.84 11.82 10.10 8.54 7.66 14.93 15.32 10.96 9.05 1.57 1.50 2.11 2.54 7.69 14.2%
CHINA EVERBRIGHT LTD 0.76 0.71 0.68 0.63 11.18 9.36 8.35 7.32 14.02 13.87 11.43 10.20 14.25 11.32 9.72 8.21 2.45 2.82 3.19 3.71 15.73 27.5%
ZOOMLION HEAVY INDUSTRY - H 1.13 1.01 0.89 0.80 1.10 1.10 0.99 0.95 9.99 9.28 7.73 5.85 5.72 6.44 5.67 5.68 5.54 6.36 5.63 5.73 4.26 3.73 3.82 3.86 9.50 22.3%
FRANSHION PROPERTIES 0.89 0.79 0.74 0.64 1.58 1.17 0.93 0.85 29.78 34.42 7.37 6.22 5.29 4.24 10.00 8.10 6.39 5.76 2.15 2.87 3.62 4.45 3.35 26.6%
SHOUGANG FUSHAN RESOURCES GR 0.81 0.80 0.76 0.74 2.68 2.87 2.69 2.75 5.71 5.61 6.62 6.93 4.48 4.80 4.66 4.55 9.13 10.17 10.13 10.38 4.39 3.99 4.13 4.09 3.35 10.5%
INTIME DEPARTMENT STORE 2.03 1.88 1.71 1.55 1.37 3.95 3.11 2.48 2.04 1.66 11.73 7.82 6.46 5.77 4.72 14.03 11.80 9.99 8.47 8.34 16.92 14.27 12.62 10.75 10.29 2.46 2.80 3.13 3.63 2.87 10.85 18.0%
UNI-PRESIDENT CHINA HOLDINGS 3.17 2.79 2.46 2.28 1.15 0.92 0.77 0.65 11.21 10.14 9.22 8.17 14.54 11.73 9.58 8.22 26.82 21.70 19.16 16.12 1.07 1.12 1.30 1.33 8.95 6.0%
GOLDEN EAGLE RETAIL GROUP 3.90 3.47 2.94 2.53 1.92 5.54 4.91 4.16 3.56 2.68 13.51 11.45 9.54 7.88 5.05 10.65 9.39 7.93 6.93 5.18 16.96 15.39 13.43 11.71 8.41 1.71 1.87 2.16 2.50 3.59 15.69 14.9%
CHINA AGRI-INDUSTRIES HLDGS 0.67 0.69 0.64 0.62 0.20 0.18 0.16 0.15 6.57 7.57 7.02 5.15 11.80 9.68 8.33 8.53 12.06 10.35 8.34 8.02 1.73 2.31 2.91 3.07 5.44 42.7%
CHINA RESOURCES CEMENT 1.42 1.23 1.10 0.98 1.01 1.14 1.02 0.90 0.82 0.84 10.59 6.70 6.04 4.84 10.01 8.06 7.04 6.41 6.87 14.90 10.64 9.05 7.98 10.64 0.92 1.50 1.77 2.08 1.34 5.01 12.2%
CHINA COSCO HOLDINGS-H 0.98 1.10 1.07 1.04 0.37 0.37 0.35 0.34 8.69 4.69 3.38 34.57 15.05 11.22 38.89 12.01 0.00 0.12 0.23 1.65 3.13 -4.5%
CHINA SHANSHUI CEMENT GROUP 1.14 1.00 0.88 0.79 0.61 0.54 0.49 0.46 3.95 3.53 2.97 2.82 5.85 5.00 4.50 4.16 6.26 5.35 4.91 4.66 4.47 5.48 6.34 6.85 5.79 31.9%
GOME ELECTRICAL APPLIANCES 0.70 0.71 0.69 0.67 0.21 0.19 0.17 0.15 10.87 7.75 5.63 25.04 13.19 10.98 26.94 13.77 11.47 0.16 0.81 1.78 1.94 0.91 16.2%
ZHONGSHENG GROUP HOLDINGS 2.05 1.82 1.54 1.33 0.32 0.27 0.23 0.20 73.19 6.28 4.96 5.52 11.72 8.88 7.21 6.10 18.46 12.06 8.56 7.58 0.93 1.53 2.03 2.51 10.90 1.1%
HUABAO INTERNATIONAL HOLDING 1.79 1.45 1.24 1.06 3.21 2.90 2.54 2.24 6.98 7.42 8.09 5.16 4.56 4.40 3.95 3.58 6.62 6.50 5.89 5.33 6.32 5.11 4.55 4.94 5.31 49.2%
ANTA SPORTS PRODUCTS LTD 1.89 1.84 1.76 1.63 1.43 1.65 2.02 1.96 1.79 1.35 9.35 11.08 11.20 9.65 8.07 4.84 6.54 6.30 5.64 3.71 9.35 12.81 12.59 11.37 7.59 6.91 5.60 5.17 5.64 7.94 5.89 -9.4%
CHINA YURUN FOOD GROUP LTD 0.52 0.53 0.52 0.51 0.29 0.27 0.21 0.19 0.15 10.74 5.57 5.25 42.43 15.37 8.37 5.78 9.01 8.49 0.41 0.63 1.52 2.58 4.76 3.1%
PARKSON RETAIL GROUP LTD 1.64 1.52 1.39 1.23 1.08 1.84 1.74 1.58 1.42 1.12 7.28 7.01 6.30 5.59 4.07 4.91 4.75 4.29 3.72 2.77 10.14 10.36 9.45 8.12 6.42 4.35 4.17 4.50 4.95 7.19 4.76 13.4%
Price to Earnings Ratio
Valuation Measures II/II
Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
China Construction Bank Corporation provides a complete range of banking
services and other financial services to individual and corporate customers. The
bank's services include retail banking, international settlement, project
finance, and credit card services.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (28.01.2013) 6.75
52-Week Low (12.07.2012) 4.71
Daily Volume
6.5
52-Week High % Change -3.70% Dividend Yield -
52-Week Low % Change 38.00% Beta 1.12
% 52 Week Price Range High/Low 87.75% Equity Float 69'156.38
Shares Out 31.03.2013 240'417.3 Short Int -
1'618'869.00 1 Yr Total Return 13.65%
Total Debt 1'143'635.00 YTD Return 4.50%
Preferred Stock 0.0 Adjusted BETA 1.116
Minority Interest 7'877.0 Analyst Recs 37
Cash and Equivalents 3'490'305.00 Consensus Rating 4.703
Enterprise Value -
Average Volume 5 Day #########
939 HK EQUITY YTD Change - Average Volume 30 Day #########
939 HK EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
388'058.0 396'529.0 449'841.0 575'537.0 713'496.0 615'870 540'635 504'345 559'351 - -
- - - - - 0.00x 0.00x - - - -
- - - - - 0.0 0.0 - - - -
- - - - - 0.00x 0.00x - - - -
92'599.0 106'756.0 134'844.0 169'258.0 193'179.0 173'585.0 201'247.0 208'007.9 225'782.1 59'570.0 58'822.0
9.36x 12.77x 10.55x 6.47x 6.50x 7.01x 6.27x 6.24x 5.81x - -
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A
Operating Margin 54.37% Long-Term Outlook STABLE
Pretax Margin 54.25% Short-Term Rating Date 29.11.2011
Return on Assets 1.47% Short-Term Rating A-1
Return on Common Equity 22.04%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 121.4%
Net Income Margin 41.7% Total Debt/Capital -
Asset Turnover 0.05
Current Ratio - Net Fixed Asset Turnover 6.36
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 8.18% Inventory Days -
Tot Debt to Common Equity 121.44% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Construction Bank Corp
Price/Volume
Valuation Analysis
251'808'033.00
Current Price (5/dd/yy) Market Data
0
1
2
3
4
5
6
7
8
m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
500.0 M
1000.0 M
1500.0 M
2000.0 M
2500.0 M
0.0
100'000.0
200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
700'000.0
800'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
10.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA INVESTMENT COR n/a ULT-AGG 142'590'494'651 59.31 - 14.11.2011 Investment Advisor
TEMASEK HOLDINGS PRI n/a ULT-AGG 17'878'670'050 7.44 - 04.05.2012 Government
BANK OF AMERICA CORP n/a EXCH 5'942'736'979 2.47 - 17.11.2011 Investment Advisor
BAOSTEEL GROUP CORP n/a Co File 3'210'000'000 1.34 - 31.12.2010 Government
CHINA INVESTMENT COR n/a ULT-AGG 2'760'000'000 1.15 - 14.11.2011 Government
BLACKROCK n/a ULT-AGG 2'548'089'428 1.06 3'851'540 29.04.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'991'111'597 0.83 (24'785'185) 31.03.2013 Investment Advisor
STATE GRID INTERNATI n/a Co File 1'315'282'730 0.55 - 31.12.2010 Corporation
STATE STREET n/a ULT-AGG 1'074'985'497 0.45 70'918'800 30.04.2013 Investment Advisor
CHINA YANGTZE POWER n/a Co File 1'070'000'000 0.45 - 31.12.2010 Government
CAPITAL GROUP COMPAN n/a ULT-AGG 921'243'233 0.38 23'700'000 31.03.2013 Investment Advisor
RECA INVESTMENT LTD n/a Co File 856'000'000 0.36 - 31.12.2010 Private Equity
YINGDA INTL HOLDINGS n/a Co File 856'000'000 0.36 - 31.12.2010 Holding Company
LAZARD ASSET MANAGEM n/a ULT-AGG 782'570'662 0.33 (7'882'000) 31.03.2013 Unclassified
HANG SENG INVESTMENT Multiple Portfolios MF-AGG 745'923'963 0.31 - 30.06.2012 Investment Advisor
FMR LLC n/a ULT-AGG 703'140'350 0.29 (194'897'331) 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 635'309'327 0.26 1'114'688 29.04.2013 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 539'376'610 0.22 68'432'000 31.03.2013 Investment Advisor
SHANDONG LUNENG GROU n/a Co File 374'500'000 0.16 - 31.12.2010 Corporation
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 359'744'032 0.15 - 31.07.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank TRACY YU buy 5 M 7 12 month 30.04.2013
Sanford C. Bernstein & Co MICHAEL WERNER outperform 5 M 8 12 month 30.04.2013
DBS Vickers ALEXANDER LEE buy 5 M 8 12 month 30.04.2013
Jefferies TAN MING buy 5 M 8 12 month 29.04.2013
Yuanta Securities Investment ConsultingNICE WANG hold 3 M 7 Not Provided 29.04.2013
Mizuho Securities JIM ANTOS neutral 3 M 7 12 month 29.04.2013
BOCOM International Holdings LI SHANSHAN neutral 3 M 7 Not Provided 29.04.2013
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 7 Not Provided 29.04.2013
JPMorgan KATHERINE LEI overweight 5 M 8 12 month 28.04.2013
CIMB TREVOR KALCIC outperform 5 M 8 12 month 27.04.2013
Religare Capital Markets SOPHIE JIANG hold 3 M 6 12 month 27.04.2013
Credit Suisse SANJAY JAIN outperform 5 M 8 Not Provided 26.04.2013
Nomura LUCY FENG buy 5 M 8 Not Provided 26.04.2013
Macquarie VICTOR WANG outperform 5 M 7 12 month 19.04.2013
ABC International JOHANNES AU buy 5 M 7 12 month 12.04.2013
EVA Dimensions AUSTIN BURKETT buy 5 U #N/A N/A Not Provided 11.04.2013
HSBC TODD DUNIVANT overweight 5 M 8 Not Provided 07.04.2013
Masterlink Securities RAINY YUAN buy 5 U 7 6 month 28.03.2013
Guotai Junan WILSON LI accumulate 4 M 7 Not Provided 26.03.2013
Morgan Stanley RICHARD XU Overwt/In-Line 5 M 8 12 month 25.03.2013
Bank of China International YUAN LIN buy 5 M 7 Not Provided 25.03.2013
China International Capital Corp MAO JUNHUA buy 5 M 8 12 month 25.03.2013
UOB Kay Hian EDMOND LAW hold 3 M 7 Not Provided 25.03.2013
Mirae Asset Securities NAN LI buy 5 M 7 12 month 25.03.2013
Barclays MAY YAN overweight 5 U 7 Not Provided 27.02.2013
Goldman Sachs NING MA Buy/Neutral 5 M 8 12 month 25.02.2013
Core Pacific TIMOTHY LI buy 5 M 8 Not Provided 05.02.2013
Daiwa Securities Co. Ltd. GRACE WU outperform 5 M 7 Not Provided 22.01.2013
SWS Research Co Ltd ROBERT HU outperform 5 M 7 Not Provided 09.01.2013
Standard Chartered JOHN CAPARUSSO outperform 5 M 7 12 month 06.12.2012
BNP Paribas Equity Research DORRIS CHEN buy 5 M 7 12 month 07.11.2012
Capital Securities Corp TEAM COVERAGE buy 5 M #N/A N/A Not Provided 29.10.2012
Citic Securities Co., Ltd FEIFEI XIAO overweight 5 M #N/A N/A Not Provided 28.08.2012
Phillip Securities CHEN XINGYU accumulate 4 D 7 Not Provided 28.03.2012
Hua Tai Securities Co., Ltd LIU XIAOCHANG buy 5 M #N/A N/A Not Provided 26.03.2012
ICBC International Securities IVAN LIN buy 5 M 9 Not Provided 01.11.2010
Tebon Securities Co Ltd XU MINGQIANG outperform 5 N #N/A N/A Not Provided 02.01.2009
Holdings By:
China Construction Bank Corp
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
China Mobile Limited, through its subsidiaries, provides cellular
telecommunications and related services in the People's Republic of China and
Hong Kong SAR.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (14.08.2012) 92.60
52-Week Low (04.06.2012) 76.50
Daily Volume
84.95
52-Week High % Change -8.26% Dividend Yield 4.11
52-Week Low % Change 11.05% Beta 0.61
% 52 Week Price Range High/Low 52.48% Equity Float 5'209.58
Shares Out 31.03.2013 20'100.6 Short Int -
1'707'547.25 1 Yr Total Return 2.96%
Total Debt 29'846.00 YTD Return -5.87%
Preferred Stock 0.0 Adjusted BETA 0.608
Minority Interest 1'862.0 Analyst Recs 36
Cash and Equivalents 402'903.00 Consensus Rating 3.333
Enterprise Value 985'275.95
Average Volume 5 Day 13'193'680
941 HK EQUITY YTD Change - Average Volume 30 Day 15'135'070
941 HK EQUITY YTD % CHANGE - Average Volume 3 Month 15'710'970
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
411'810.0 452'103.0 485'231.0 527'999.0 560'413.0 537'272.0 567'668.0 591'821.9 621'800.8 - -
2.90x 2.34x 2.18x 1.77x 1.94x 0.00x 0.00x 1.71x 1.62x - -
219'788.0 233'788.0 241'758.0 257'202.0 256'783.0 0.0 0.0 256'723.8 261'339.5 - -
5.43x 4.52x 4.37x 3.63x 4.24x 0.00x 0.00x 3.84x 3.77x - -
112'627.0 115'166.0 119'640.0 125'870.0 129'274.0 126'806.0 129'354.0 126'694.5 122'443.3 - -
12.19x 11.18x 10.98x 9.82x 11.29x 0.00x 0.00x 10.74x 11.12x - -
EBITDA 256'783.00 Long-Term Rating Date 16.12.2010
EBIT 155'521.00 Long-Term Rating AA-
Operating Margin 27.75% Long-Term Outlook STABLE
Pretax Margin 30.57% Short-Term Rating Date -
Return on Assets 12.90% Short-Term Rating -
Return on Common Equity 18.84%
Return on Capital 18.06% EBITDA/Interest Exp. 658.42
Asset Turnover 0.56% (EBITDA-Capex)/Interest Exp. 337.84
Net Debt/EBITDA -1.45
Gross Margin - Total Debt/EBITDA 0.12
EBITDA Margin 45.8%
EBIT Margin 27.8% Total Debt/Equity 4.1%
Net Income Margin 23.1% Total Debt/Capital 4.0%
Asset Turnover 0.56
Current Ratio 1.50 Net Fixed Asset Turnover 1.15
Quick Ratio 1.39 Accounts receivable turnover-days 6.82
Debt to Assets 2.84% Inventory Days -
Tot Debt to Common Equity 4.13% Accounts Payable Turnover Day -
Accounts Receivable Turnover 53.66 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
China Mobile Ltd
Price/Volume
Valuation Analysis
15'563'362.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
0
10
20
30
40
50
60
70
80
90
100
m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
10.0 M
20.0 M
30.0 M
40.0 M
50.0 M
60.0 M
70.0 M
0.0
100'000.0
200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.00
0.20
0.40
0.60
0.80
1.00
1.20
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA MOBILE HK BVI n/a Co File 14'890'116'842 74.08 - 31.12.2012 Corporation
ABERDEEN n/a ULT-AGG 234'353'256 1.17 5'556'000 31.03.2013 Unclassified
BLACKROCK n/a ULT-AGG 196'402'752 0.98 239'000 29.04.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 170'106'656 0.85 (450'567) 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 76'143'989 0.38 (2'773'371) 30.04.2013 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 53'719'500 0.27 - 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 49'564'408 0.25 4'171'000 28.03.2013 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 43'343'135 0.22 406'635 29.04.2013 Investment Advisor
GRANTHAM MAYO VAN OT Multiple Portfolios MF-AGG 35'979'737 0.18 - 31.05.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 34'311'500 0.17 (14'679'000) 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 32'462'235 0.16 (9'031'747) 31.03.2013 Investment Advisor
HANG SENG INVESTMENT Multiple Portfolios MF-AGG 29'042'693 0.14 - 30.06.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 28'431'255 0.14 1'697'000 31.12.2012 Investment Advisor
INVESCO LTD n/a ULT-AGG 28'402'066 0.14 2'571'466 30.04.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 19'549'707 0.1 (109'000) 31.03.2013 Investment Advisor
BARING ASSET MANAGEM Multiple Portfolios MF-AGG 17'876'500 0.09 6'452'500 31.12.2012 Investment Advisor
PICTET ASSET MANAGEM Multiple Portfolios MF-AGG 17'393'276 0.09 (763'471) 31.01.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 16'389'300 0.08 (1'234'600) 31.03.2013 Investment Advisor
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 15'537'281 0.08 (673'001) 28.02.2013 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 15'005'931 0.07 319'000 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank ALAN HELLAWELL hold 3 M 79 12 month 30.04.2013
SWS Research Co Ltd JIM TANG underperform 1 M 75 Not Provided 25.04.2013
Haitong International Securities ALEX LEE hold 3 M 90 12 month 23.04.2013
DBS Vickers TAM TSZ-WANG hold 3 M 83 12 month 23.04.2013
CIMB BERTRAM LAI neutral 3 M 76 12 month 23.04.2013
Maybank Kim Eng ANDY POON sell 1 M 74 12 month 23.04.2013
Core Pacific KEVIN TAM neutral 3 M #N/A N/A Not Provided 23.04.2013
BOCOM International Holdings LI ZHIWU long-term buy 5 M 92 Not Provided 23.04.2013
Standard Chartered STEVEN LIU outperform 5 M 93 12 month 22.04.2013
Morgan Stanley NAVIN KILLA Equalwt/In-Line 3 M 85 12 month 22.04.2013
Credit Suisse COLIN MCCALLUM outperform 5 M 102 Not Provided 22.04.2013
JPMorgan LUCY LIU underweight 1 M 78 6 month 22.04.2013
Jefferies CYNTHIA JINHONG MENG hold 3 M 90 12 month 22.04.2013
Yuanta Securities Investment ConsultingNICE WANG hold 3 M 91 Not Provided 22.04.2013
BNP Paribas Equity Research ALEN LIN buy 5 M 105 12 month 22.04.2013
Nomura JIN YOON neutral 3 M 86 Not Provided 22.04.2013
New Street Research ALASTAIR JONES buy 5 M 100 Not Provided 22.04.2013
Barclays ANAND RAMACHANDRAN overweight 5 M 100 Not Provided 22.04.2013
Macquarie LISA SOH underperform 1 M 72 12 month 08.04.2013
Pacific Crest Securities STEVE CLEMENT suspended coverage #N/A N/A M #N/A N/A Not Provided 03.04.2013
HSBC TUCKER GRINNAN overweight 5 M 101 Not Provided 02.04.2013
Masterlink Securities LV HAN hold 3 M 90 6 month 27.03.2013
Guotai Junan RICKY LAI accumulate 4 M 89 Not Provided 22.03.2013
Ji Asia NEIL JUGGINS sell 1 D 68 12 month 18.03.2013
Capital Securities Corp TEAM COVERAGE hold 3 M 70 Not Provided 15.03.2013
Bank of China International MICHAEL MENG sell 1 M 75 Not Provided 15.03.2013
China International Capital Corp CHEN HAOFEI reduce 2 M 75 12 month 15.03.2013
Citic Securities Co., Ltd CHEN JIAN sell 1 N 77 6 month 15.03.2013
UOB Kay Hian VICTOR YIP buy 5 M 93 Not Provided 15.03.2013
ICBC International Securities KARY SEI hold 3 M 87 Not Provided 15.03.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013
GuoSen Securities Co Ltd MICHAEL NG buy 5 N #N/A N/A Not Provided 10.12.2012
Goldman Sachs DONALD LU Buy/Neutral 5 M 105 12 month 09.12.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 89 Not Provided 03.10.2012
Holdings By:
China Mobile Ltd
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
Industrial and Commercial Bank of China Ltd provides a broad range of personal
and corporate commercial banking services all over China. The Bank's businesses
include deposit, loan, credit card, fund underwriting and trust, and foreign
currency settlement and trading.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (23.01.2013) 6.00
52-Week Low (12.07.2012) 3.97
Daily Volume
5.46
52-Week High % Change -9.00% Dividend Yield -
52-Week Low % Change 37.53% Beta 1.33
% 52 Week Price Range High/Low 73.40% Equity Float 71'813.62
Shares Out 19.04.2013 86'794.0 Short Int -
1'813'951.50 1 Yr Total Return 11.24%
Total Debt 2'045'444.00 YTD Return -0.73%
Preferred Stock 0.0 Adjusted BETA 1.331
Minority Interest 3'462.0 Analyst Recs 37
Cash and Equivalents 4'355'972.00 Consensus Rating 4.622
Enterprise Value -
Average Volume 5 Day #########
1398 HK EQUITY YTD Change - Average Volume 30 Day #########
1398 HK EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
469'928.0 470'638.0 544'045.0 704'382.0 850'373.0 753'881.0 859'058.0 583'027.4 645'703.4 - -
- - - - - 0.00x 0.00x - - - -
- - - - - 0.0 0.0 - - - -
- - - - - 0.00x 0.00x - - - -
110'841.0 128'645.0 165'156.0 208'265.0 238'532.0 215'813.0 245'940.0 252'115.9 271'878.1 - -
10.73x 13.95x 8.83x 7.07x 6.10x 6.98x 5.72x 6.04x 5.60x - -
EBITDA - Long-Term Rating Date 09.12.2010
EBIT - Long-Term Rating A
Operating Margin 56.45% Long-Term Outlook STABLE
Pretax Margin 56.46% Short-Term Rating Date 09.12.2010
Return on Assets 1.41% Short-Term Rating A-1
Return on Common Equity 22.20%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 181.8%
Net Income Margin 43.6% Total Debt/Capital -
Asset Turnover 0.05
Current Ratio - Net Fixed Asset Turnover 6.77
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 11.66% Inventory Days -
Tot Debt to Common Equity 181.82% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Industrial & Commercial Bank of China Ltd
Price/Volume
Valuation Analysis
263'219'558.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
0
1
2
3
4
5
6
7
m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
500.0 M
1000.0 M
1500.0 M
2000.0 M
2500.0 M
0.0
100'000.0
200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
700'000.0
800'000.0
900'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
50.00
100.00
150.00
200.00
250.00
300.00
350.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SOCIAL SECURITY FUND n/a EXCH 10'405'376'524 11.99 - 13.12.2012 Government
BLACKROCK n/a ULT-AGG 6'928'335'051 7.98 (36'157'445) 29.04.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 5'941'259'181 6.85 (595'000) 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 5'386'435'920 6.21 (162'044'750) 31.03.2013 Investment Advisor
TEMASEK HOLDINGS PRI n/a ULT-AGG 4'575'047'470 5.27 - 30.05.2012 Government
GOLDMAN SACHS GROUP n/a Research 2'977'315'246 3.43 (1'350'000'000) 28.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'853'341'186 2.14 (21'524'000) 31.03.2013 Investment Advisor
NOMURA n/a ULT-AGG (1'397'779'606) -1.61 43'000 29.01.2013 Unclassified
FMR LLC n/a ULT-AGG 1'066'765'789 1.23 (212'553'193) 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 874'068'348 1.01 (28'115'185) 30.04.2013 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 798'834'688 0.92 57'800'616 28.02.2013 Investment Advisor
HANG SENG INVESTMENT Multiple Portfolios MF-AGG 693'459'282 0.8 - 30.06.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 532'867'930 0.61 (42'371'000) 31.03.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 418'663'901 0.48 (29'532'504) 30.04.2013 Investment Advisor
BARING ASSET MANAGEM Multiple Portfolios MF-AGG 403'715'655 0.47 36'944'000 31.12.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 309'841'776 0.36 41'383'000 31.12.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 297'404'935 0.34 (3'227'000) 31.01.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 279'904'280 0.32 1'745'000 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 271'966'732 0.31 440'176 29.04.2013 Investment Advisor
PRUDENTIAL FINANCIAL n/a ULT-AGG 270'488'219 0.31 24'006'670 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank TRACY YU buy 5 M 7 12 month 30.04.2013
Sanford C. Bernstein & Co MICHAEL WERNER outperform 5 M 7 12 month 30.04.2013
Macquarie VICTOR WANG outperform 5 M 8 12 month 30.04.2013
Bank of China International YUAN LIN hold 3 M 6 Not Provided 30.04.2013
DBS Vickers ALEXANDER LEE buy 5 M 7 12 month 30.04.2013
Credit Suisse SANJAY JAIN outperform 5 M 6 Not Provided 29.04.2013
Jefferies TAN MING buy 5 M 7 12 month 29.04.2013
Yuanta Securities Investment ConsultingNICE WANG buy 5 M 6 Not Provided 29.04.2013
Mizuho Securities JIM ANTOS buy 5 M 7 12 month 29.04.2013
Core Pacific TIMOTHY LI buy 5 M 7 Not Provided 29.04.2013
CCB International Securities Ltd SHENG NAN outperform 5 M 7 Not Provided 29.04.2013
BOCOM International Holdings LI SHANSHAN neutral 3 M 6 Not Provided 29.04.2013
JPMorgan KATHERINE LEI overweight 5 M 7 12 month 28.04.2013
Nomura LUCY FENG buy 5 M 7 Not Provided 28.04.2013
CIMB TREVOR KALCIC outperform 5 M 6 12 month 27.04.2013
Religare Capital Markets SOPHIE JIANG buy 5 M 7 12 month 27.04.2013
ABC International JOHANNES AU buy 5 M 9 12 month 12.04.2013
HSBC TODD DUNIVANT overweight 5 M 7 Not Provided 07.04.2013
Morgan Stanley RICHARD XU restricted #N/A N/A M #N/A N/A Not Provided 02.04.2013
Capital Securities Corp TEAM COVERAGE buy 5 M 6 Not Provided 28.03.2013
China International Capital Corp MAO JUNHUA buy 5 M 6 12 month 28.03.2013
UOB Kay Hian EDMOND LAW buy 5 M 7 Not Provided 28.03.2013
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 6 Not Provided 28.03.2013
Barclays MAY YAN overweight 5 M 6 Not Provided 27.02.2013
Standard Chartered JOHN CAPARUSSO outperform 5 M 6 12 month 26.02.2013
Goldman Sachs NING MA Buy/Neutral 5 M 7 12 month 25.02.2013
Daiwa Securities Co. Ltd. GRACE WU buy 5 M 7 Not Provided 22.01.2013
EVA Dimensions AUSTIN BURKETT buy 5 M #N/A N/A Not Provided 17.01.2013
Mirae Asset Securities NAN LI buy 5 M 6 12 month 20.11.2012
BNP Paribas Equity Research DORRIS CHEN buy 5 M 6 12 month 07.11.2012
SWS Research Co Ltd ROBERT HU neutral 3 M 6 Not Provided 29.10.2012
Masterlink Securities RAINY YUAN hold 3 M 6 6 month 06.07.2012
Citic Securities Co., Ltd ZHU YAN overweight 5 M #N/A N/A Not Provided 29.06.2012
Guotai Junan WILSON LI buy 5 U 6 Not Provided 11.05.2012
Phillip Securities CHEN XINGYU buy 5 M 6 12 month 09.10.2011
ICBC International Securities IVAN LIN buy 5 M 7 Not Provided 23.04.2010
Holdings By:
Industrial & Commercial Bank of China Ltd
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
Tencent Holdings Limited provides Internet, mobile, and telecommunication
value-added services in China. The Company has an instant messaging community
in China. Tencent also provides online advertising services.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (11.03.2013) 286.00
52-Week Low (23.05.2012) 203.60
Daily Volume
266.2
52-Week High % Change -6.92% Dividend Yield -
52-Week Low % Change 30.75% Beta 1.09
% 52 Week Price Range High/Low 75.97% Equity Float 962.81
Shares Out 10.04.2013 1'853.6 Short Int -
493'425.38 1 Yr Total Return 9.55%
Total Debt 10'699.52 YTD Return 6.91%
Preferred Stock 0.0 Adjusted BETA 1.085
Minority Interest 850.8 Analyst Recs 35
Cash and Equivalents 27'189.07 Consensus Rating 4.229
Enterprise Value 376'337.01
Average Volume 5 Day 3'671'843
700 HK EQUITY YTD Change - Average Volume 30 Day 6'119'982
700 HK EQUITY YTD % CHANGE - Average Volume 3 Month 4'886'696
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
7'154.5 12'440.0 19'646.0 28'496.1 43'893.7 28'496.1 43'893.7 58'017.7 72'127.2 12'901.4 13'981.1
10.35x 20.68x 12.43x 7.61x 8.10x 36.37x 31.08x 6.33x 4.88x - -
3'539.9 6'415.5 10'382.4 13'357.0 17'569.2 13'357.0 17'398.8 21'930.5 27'134.1 5'269.5 5'452.8
20.91x 40.10x 23.52x 16.23x 20.24x 16.23x 20.44x 17.16x 13.87x 17.12x 16.32x
2'784.6 5'155.6 8'053.6 10'203.1 12'731.9 10'203.1 12'731.9 16'293.3 20'057.0 3'991.2 4'127.3
28.37x 51.84x 32.31x 22.57x 28.76x 22.57x 28.76x 23.75x 19.29x 23.17x 21.90x
EBITDA 17'569.23 Long-Term Rating Date 14.11.2011
EBIT 14'948.99 Long-Term Rating BBB+
Operating Margin 34.06% Long-Term Outlook STABLE
Pretax Margin 34.29% Short-Term Rating Date -
Return on Assets 19.28% Short-Term Rating -
Return on Common Equity 36.50%
Return on Capital 27.89% EBITDA/Interest Exp. 53.80
Asset Turnover 0.66% (EBITDA-Capex)/Interest Exp. 41.64
Net Debt/EBITDA -0.95
Gross Margin 58.5% Total Debt/EBITDA 0.61
EBITDA Margin 39.6%
EBIT Margin 34.1% Total Debt/Equity 25.9%
Net Income Margin 29.0% Total Debt/Capital 20.2%
Asset Turnover 0.66
Current Ratio 1.77 Net Fixed Asset Turnover 5.84
Quick Ratio 1.43 Accounts receivable turnover-days 18.24
Debt to Assets 14.22% Inventory Days 5.71
Tot Debt to Common Equity 25.91% Accounts Payable Turnover Day 62.92
Accounts Receivable Turnover 20.07 Cash Conversion Cycle -38.97
Inventory Turnover 64.10
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Tencent Holdings Ltd
Price/Volume
Valuation Analysis
4'940'443.00
Current Price (5/dd/yy) Market Data
0
50
100
150
200
250
300
m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
2.0 M
4.0 M
6.0 M
8.0 M
10.0 M
12.0 M
14.0 M
16.0 M
18.0 M
20.0 M
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
45'000.0
50'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.00
0.20
0.40
0.60
0.80
1.00
1.20
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MIH TC HOLDINGS LTD n/a EXCH 630'240'380 34 - 24.01.2013 Other
HUATENG MA n/a EXCH 189'892'880 10.24 - 09.04.2013 n/a
JP MORGAN n/a ULT-AGG 83'853'904 4.52 800 31.12.2012 Investment Advisor
ZHIDONG ZHANG n/a Co File 66'000'000 3.56 - 31.12.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 41'864'402 2.26 (452'815) 31.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 36'113'000 1.95 6'000'000 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 33'829'061 1.83 319'700 29.04.2013 Investment Advisor
FMR LLC n/a ULT-AGG 31'307'167 1.69 (2'555'651) 31.03.2013 Investment Advisor
WADDELL & REED FINAN Multiple Portfolios MF-AGG 18'614'700 1 1'189'900 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 16'215'600 0.87 (1'776'300) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 15'521'800 0.84 486'800 28.02.2013 Investment Advisor
STATE STREET n/a ULT-AGG 13'809'851 0.75 (522'595) 30.04.2013 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 8'509'100 0.46 (909'700) 31.03.2013 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 6'313'082 0.34 61'103 28.02.2013 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 5'974'783 0.32 72'300 31.12.2012 Investment Advisor
HANG SENG INVESTMENT Multiple Portfolios MF-AGG 5'280'826 0.28 - 30.06.2012 Investment Advisor
BAILLIE GIFFORD AND Multiple Portfolios MF-AGG 4'657'000 0.25 - 31.01.2013 Investment Advisor
CHI PING LAU n/a Co File 4'603'600 0.25 - 31.12.2012 n/a
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 3'891'429 0.21 214'300 31.12.2012 Investment Advisor
BARING ASSET MANAGEM Multiple Portfolios MF-AGG 3'873'000 0.21 (625'700) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank ALAN HELLAWELL hold 3 M 266 12 month 30.04.2013
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 280 Not Provided 30.04.2013
SWS Research Co Ltd JIM TANG outperform 5 M 275 Not Provided 25.04.2013
Brean Murray Carret & Co FAWNE JIANG buy 5 M 297 12 month 23.04.2013
Barclays ALICIA YAP overweight 5 M 290 Not Provided 19.04.2013
HSBC CHI TSANG underweight 1 M 223 Not Provided 17.04.2013
Daiwa Securities Co. Ltd. JOHN CHOI buy 5 M 320 Not Provided 12.04.2013
Nomura JIN YOON reduce 2 M 180 12 month 11.04.2013
Jefferies CYNTHIA JINHONG MENG buy 5 M 330 12 month 10.04.2013
Haitong International Securities ALEX LEE hold 3 M 265 12 month 08.04.2013
BOCOM International Holdings MA YUAN buy 5 M 293 Not Provided 03.04.2013
China International Capital Corp CHEN HAOFEI buy 5 M 286 12 month 02.04.2013
EVA Dimensions ANDREW S ZAMFOTIS overweight 5 U #N/A N/A Not Provided 02.04.2013
First Shanghai Securities Ltd TSOI HO hold 3 D 260 12 month 27.03.2013
Avior Research RICHARD TESSENDORF neutral 3 M 299 Not Provided 26.03.2013
Capital Securities Corp HU JIAMING buy 5 M 290 Not Provided 22.03.2013
Core Pacific KEVIN TAM buy 5 M 295 Not Provided 22.03.2013
Morgan Stanley TIMOTHY CHAN Overwt/Attractive 5 M 316 12 month 21.03.2013
JPMorgan DICK WEI overweight 5 M 300 6 month 21.03.2013
Pacific Crest Securities EVAN S WILSON outperform 5 M 300 12 month 21.03.2013
Macquarie JIONG SHAO underperform 1 M 180 12 month 21.03.2013
Bank of China International THOMAS CHONG buy 5 M 293 Not Provided 21.03.2013
DBS Vickers BILL HUANG hold 3 M 260 12 month 21.03.2013
CIMB WENDY HUANG outperform 5 M 343 12 month 21.03.2013
Goldman Sachs PIYUSH MUBAYI Buy/Neutral 5 M 304 12 month 20.03.2013
Piper Jaffray MARK A MAROSTICA neutral 3 M 220 12 month 20.03.2013
Wedge Partners JUAN LIN no rating system #N/A N/A M #N/A N/A Not Provided 15.03.2013
Ji Asia JUSTIN WEISS buy 5 U 360 12 month 12.03.2013
Credit Suisse WALLACE CHEUNG outperform 5 M 301 Not Provided 31.01.2013
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 16.08.2012
Guotai Junan DUNDAS DENG buy 5 M 270 Not Provided 09.07.2012
ICBC International Securities KARY SEI hold 3 M 217 Not Provided 04.06.2012
Standard Chartered DON SEE outperform 5 M 237 12 month 18.05.2012
Mega Securities TIMOTHY LI hold 3 D 185 12 month 23.03.2010
PingAn Securities ZHONGZHI LI strong buy 5 M 188 6 month 29.01.2010
Holdings By:
Tencent Holdings Ltd
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
Bank of China Ltd provides a complete range of banking and other financial
services to individual and corporation customers worldwide. The bank's services
include retail banking, Great Wall credit card and debit card services, consumer
credit, foreign currency transaction, corporate banking, settlement and
clearing,investment banking, and fund management businesses.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (04.02.2013) 4.00
52-Week Low (06.09.2012) 2.73
Daily Volume
3.63
52-Week High % Change -9.25% Dividend Yield 6.07
52-Week Low % Change 32.97% Beta 1.12
% 52 Week Price Range High/Low 70.87% Equity Float 72'987.26
Shares Out 31.03.2013 83'622.3 Short Int -
1'009'942.06 1 Yr Total Return 19.15%
Total Debt 2'243'457.00 YTD Return 4.91%
Preferred Stock 0.0 Adjusted BETA 1.116
Minority Interest 36'865.0 Analyst Recs 39
Cash and Equivalents 3'157'170.00 Consensus Rating 4.077
Enterprise Value -
Average Volume 5 Day #########
3988 HK EQUITY YTD Change - Average Volume 30 Day #########
3988 HK EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
355'641.0 337'018.0 395'271.0 514'133.0 619'095.0 551'001.0 460'542.0 393'840.9 431'641.5 - -
- - - - - 0.00x 0.00x - - - -
- - - - - 0.0 0.0 - - - -
- - - - - 0.00x 0.00x - - - -
64'360.0 80'819.0 104'418.0 124'276.0 139'432.0 127'600.0 142'484.0 142'817.9 152'145.5 - -
7.47x 11.62x 8.91x 5.16x 5.57x 5.57x 5.67x 5.67x 5.34x - -
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A
Operating Margin 50.02% Long-Term Outlook STABLE
Pretax Margin 50.71% Short-Term Rating Date 29.11.2011
Return on Assets 1.14% Short-Term Rating A-1
Return on Common Equity 18.01%
Return on Capital 5.04% EBITDA/Interest Exp. -
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 272.0%
Net Income Margin 37.7% Total Debt/Capital 72.3%
Asset Turnover 0.05
Current Ratio - Net Fixed Asset Turnover 4.03
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 17.69% Inventory Days -
Tot Debt to Common Equity 272.04% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Bank of China Ltd
Price/Volume
Valuation Analysis
356'119'091.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
0
1
1
2
2
3
3
4
4
5
m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
500.0 M
1000.0 M
1500.0 M
2000.0 M
2500.0 M
3000.0 M
3500.0 M
4000.0 M
4500.0 M
0.0
100'000.0
200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
700'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
50.00
100.00
150.00
200.00
250.00
300.00
350.00
400.00
450.00
500.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 8'164'115'320 9.76 44'624'000 29.04.2013 Investment Advisor
SOCIAL SECURITY FUND n/a EXCH 7'518'157'041 8.99 - 28.01.2013 Government
CAPITAL GROUP COMPAN n/a ULT-AGG 5'385'933'846 6.44 - 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 4'087'482'221 4.89 702'000 31.12.2012 Investment Advisor
TEMASEK HOLDINGS PRI n/a ULT-AGG 3'116'864'905 3.73 - 04.05.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'019'069'988 2.41 (19'461'100) 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 1'064'669'933 1.27 - 31.07.2012 Investment Advisor
STATE STREET n/a ULT-AGG 960'629'200 1.15 (29'415'851) 30.04.2013 Investment Advisor
HANG SENG INVESTMENT Multiple Portfolios MF-AGG 951'146'461 1.14 - 30.06.2012 Investment Advisor
FMR LLC n/a ULT-AGG 692'199'106 0.83 311'393'890 31.03.2013 Investment Advisor
MITSUBISHI UFJ FINAN n/a ULT-AGG 548'954'200 0.66 1'383'000 22.01.2013 Holding Company
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 328'263'100 0.39 12'475'000 31.03.2013 Investment Advisor
ASIAN DEVELOPMENT BA n/a Co File 304'007'461 0.36 - 31.12.2011 Bank
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 301'735'882 0.36 516'608 29.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 300'179'500 0.36 (36'674'000) 31.12.2012 Investment Advisor
PRUDENTIAL FINANCIAL n/a ULT-AGG 267'659'000 0.32 (12'092'000) 31.03.2013 Investment Advisor
BARING ASSET MANAGEM Multiple Portfolios MF-AGG 252'617'700 0.3 71'550'000 31.12.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 250'834'100 0.3 (4'008'000) 31.01.2013 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 248'698'686 0.3 - 31.12.2012 Investment Advisor
EASTSPRING INVESTMEN Multiple Portfolios MF-AGG 191'503'000 0.23 - 14.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank TRACY YU buy 5 M 4 12 month 30.04.2013
Sanford C. Bernstein & Co MICHAEL WERNER outperform 5 M 5 12 month 30.04.2013
Macquarie VICTOR WANG outperform 5 M 4 12 month 30.04.2013
DBS Vickers ALEXANDER LEE buy 5 M 4 12 month 30.04.2013
Jefferies TAN MING buy 5 M 5 12 month 29.04.2013
JPMorgan KATHERINE LEI neutral 3 M 4 12 month 28.04.2013
Bank of China International YUAN LIN buy 5 M 5 Not Provided 26.04.2013
UOB Kay Hian EDMOND LAW hold 3 M 4 Not Provided 26.04.2013
Religare Capital Markets SOPHIE JIANG hold 3 M 4 12 month 26.04.2013
BOCOM International Holdings LI SHANSHAN long-term buy 5 M 4 Not Provided 26.04.2013
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M #N/A N/A Not Provided 26.04.2013
Morgan Stanley RICHARD XU Equalwt/In-Line 3 M 4 12 month 25.04.2013
Credit Suisse SANJAY JAIN neutral 3 M 4 Not Provided 25.04.2013
CIMB TREVOR KALCIC neutral 3 M 4 12 month 25.04.2013
Nomura LUCY FENG buy 5 M 4 Not Provided 25.04.2013
CCB International Securities Ltd SHENG NAN outperform 5 M 4 Not Provided 25.04.2013
ABC International JOHANNES AU hold 3 M 4 12 month 12.04.2013
HSBC TODD DUNIVANT neutral 3 M 4 Not Provided 07.04.2013
Capital Securities Corp TEAM COVERAGE hold 3 M #N/A N/A Not Provided 27.03.2013
Mizuho Securities JIM ANTOS neutral 3 M 3 12 month 27.03.2013
China International Capital Corp MAO JUNHUA buy 5 M 4 12 month 27.03.2013
Mirae Asset Securities NAN LI buy 5 M 4 12 month 27.03.2013
Barclays MAY YAN overweight 5 M 4 Not Provided 27.02.2013
Standard Chartered JOHN CAPARUSSO outperform 5 M 4 12 month 26.02.2013
Goldman Sachs NING MA neutral/neutral 3 M 4 12 month 25.02.2013
ICBC International Securities IVAN LIN buy 5 M 4 Not Provided 20.02.2013
Core Pacific TIMOTHY LI hold 3 M 4 Not Provided 05.02.2013
Daiwa Securities Co. Ltd. GRACE WU buy 5 M 4 Not Provided 22.01.2013
EVA Dimensions AUSTIN BURKETT buy 5 M #N/A N/A Not Provided 17.01.2013
SWS Research Co Ltd ROBERT HU neutral 3 M 4 Not Provided 09.01.2013
BNP Paribas Equity Research DORRIS CHEN buy 5 M 4 12 month 07.11.2012
Masterlink Securities RAINY YUAN hold 3 M 4 6 month 30.10.2012
Guotai Junan WILSON LI accumulate 4 M 4 Not Provided 30.10.2012
Phillip Securities CHEN XINGYU accumulate 4 M 3 Not Provided 26.10.2012
Citic Securities Co., Ltd ZHU YAN overweight 5 M #N/A N/A Not Provided 29.06.2012
Holdings By:
Bank of China Ltd
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
CNOOC Limited, through its subsidiaries, explores, develops, produces, and sells
crude oil and natural gas. The Group's core operation areas are Bohai, Western
South China Sea, Eastern South China Sea and East China Sea in offshore China.
Internationally, the Group has oil and gas assets in Asia, Africa, North
America, South America and Oceania.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (04.01.2013) 17.38
52-Week Low (05.06.2012) 13.18
Daily Volume
14.48
52-Week High % Change -16.69% Dividend Yield 3.28
52-Week Low % Change 9.86% Beta 1.25
% 52 Week Price Range High/Low 30.95% Equity Float 15'873.58
Shares Out 28.02.2013 44'646.3 Short Int -
646'478.50 1 Yr Total Return -9.78%
Total Debt 57'886.00 YTD Return -13.71%
Preferred Stock 0.0 Adjusted BETA 1.249
Minority Interest 0.0 Analyst Recs 33
Cash and Equivalents 133'709.00 Consensus Rating 4.121
Enterprise Value 437'734.49
Average Volume 5 Day 60'515'140
883 HK EQUITY YTD Change - Average Volume 30 Day 65'280'120
883 HK EQUITY YTD % CHANGE - Average Volume 3 Month 63'290'860
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y - -
125'977.4 105'195.1 180'036.0 240'944.0 247'627.0 - - 251'097.4 269'009.9 - -
1.95x 4.24x 3.71x 1.79x 2.13x - - 2.09x 1.89x - -
65'262.9 56'272.8 97'993.0 119'044.0 117'702.0 - - 127'019.2 136'301.2 - -
3.77x 7.93x 6.82x 3.62x 4.48x - - 3.45x 3.21x - -
44'375.3 29'485.6 54'410.0 70'255.0 63'691.0 - - 62'601.1 65'080.1 - -
6.44x 16.28x 12.81x 7.02x 9.44x - - 8.39x 8.10x - -
EBITDA 117'702.00 Long-Term Rating Date 16.12.2010
EBIT 84'799.00 Long-Term Rating AA-
Operating Margin 34.24% Long-Term Outlook STABLE
Pretax Margin 36.41% Short-Term Rating Date -
Return on Assets 15.16% Short-Term Rating -
Return on Common Equity 22.24%
Return on Capital - EBITDA/Interest Exp. 71.42
Asset Turnover 0.59% (EBITDA-Capex)/Interest Exp. 33.25
Net Debt/EBITDA -0.64
Gross Margin - Total Debt/EBITDA 0.49
EBITDA Margin 47.5%
EBIT Margin 34.2% Total Debt/Equity 18.7%
Net Income Margin 25.7% Total Debt/Capital 15.7%
Asset Turnover 0.59
Current Ratio 2.07 Net Fixed Asset Turnover 1.05
Quick Ratio 1.91 Accounts receivable turnover-days 32.73
Debt to Assets 12.69% Inventory Days -
Tot Debt to Common Equity 18.69% Accounts Payable Turnover Day -
Accounts Receivable Turnover 11.18 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
CNOOC Ltd
Price/Volume
Valuation Analysis
66'687'176.00
Current Price (5/dd/yy) Market Data
0
2
4
6
8
10
12
14
16
18
20
m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
20.0 M
40.0 M
60.0 M
80.0 M
100.0 M
120.0 M
140.0 M
160.0 M
0.0
50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.00
0.20
0.40
0.60
0.80
1.00
1.20
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA NATIONAL OFFSH n/a 20F 28'772'727'273 64.45 - 31.03.2012 Government
BLACKROCK n/a ULT-AGG 590'469'601 1.32 7'235'000 29.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 532'935'247 1.19 (6'030'000) 28.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 528'716'724 1.18 (13'460'500) 31.03.2013 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 265'808'980 0.6 (28'785'000) 28.02.2013 Investment Advisor
FMR LLC n/a ULT-AGG 237'922'779 0.53 (52'889'505) 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 229'365'203 0.51 (8'344'101) 30.04.2013 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 229'247'200 0.51 (21'188'000) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 181'137'000 0.41 - 28.02.2013 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 157'408'000 0.35 8'151'000 31.03.2013 Investment Advisor
COMMONWEALTH BANK OF Multiple Portfolios MF-AGG 139'327'500 0.31 1'058'000 31.01.2013 Bank
JP MORGAN n/a ULT-AGG 128'788'000 0.29 (8'768'000) 31.03.2013 Investment Advisor
LAZARD ASSET MANAGEM n/a ULT-AGG 86'396'000 0.19 (1'001'000) 31.03.2013 Unclassified
HANG SENG INVESTMENT Multiple Portfolios MF-AGG 86'312'291 0.19 - 30.06.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 78'661'957 0.18 8'004'000 31.12.2012 Investment Advisor
ABERDEEN n/a ULT-AGG 76'599'000 0.17 10'176'000 31.03.2013 Unclassified
BARING ASSET MANAGEM Multiple Portfolios MF-AGG 76'087'000 0.17 3'949'000 31.12.2012 Investment Advisor
INVESCO LTD n/a ULT-AGG 71'342'468 0.16 (30'335'907) 30.04.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 70'168'164 0.16 (2'224'700) 31.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 68'538'000 0.15 - 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies LABAN YU hold 3 M 13 12 month 30.04.2013
Sanford C. Bernstein & Co NEIL BEVERIDGE outperform 5 M 22 12 month 30.04.2013
Credit Suisse DAVID HEWITT outperform 5 M 20 Not Provided 29.04.2013
Bank of China International LAWRENCE LAU buy 5 M 17 Not Provided 29.04.2013
UOB Kay Hian YAN SHI sell 1 M 14 Not Provided 29.04.2013
BOCOM International Holdings WU FEI buy 5 M 17 Not Provided 29.04.2013
Deutsche Bank DAVID HURD hold 3 M 15 12 month 26.04.2013
Morgan Stanley ANDY MENG Overwt/Attractive 5 M 17 12 month 26.04.2013
Nomura SONIA SONG neutral 3 M 15 Not Provided 26.04.2013
VTB Capital COLIN SMITH buy 5 U 17 12 month 24.04.2013
Mizuho Securities ANDREW S F CHAN buy 5 U 16 12 month 16.04.2013
SWS Research Co Ltd ALBERT MIAO outperform 5 M 19 Not Provided 27.03.2013
China International Capital Corp BIN GUAN buy 5 U 18 12 month 25.03.2013
Mirae Asset Securities GORDON KWAN buy 5 U 16 12 month 25.03.2013
ICBC International Securities ANNA YU hold 3 M 15 Not Provided 25.03.2013
Standard Chartered DUKE SUTTIKULPANICH outperform 5 M 18 12 month 23.03.2013
Macquarie JAMES HUBBARD outperform 5 M 20 12 month 23.03.2013
JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 13 6 month 22.03.2013
BNP Paribas Equity Research CHENG KHOO hold 3 M 17 12 month 22.03.2013
Ji Asia SAMUEL THAWLEY sell 1 M 10 12 month 21.03.2013
Goldman Sachs ARTHUR YAN Buy/Neutral 5 M 18 12 month 18.03.2013
HSBC THOMAS C HILBOLDT overweight 5 M 18 Not Provided 07.03.2013
Guotai Junan GRACE LIU accumulate 4 M 19 Not Provided 04.02.2013
Daiwa Securities Co. Ltd. ADRIAN LOH buy 5 M 20 Not Provided 30.01.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 17.01.2013
Citic Securities Co., Ltd HUANG LILI overweight 5 N 19 6 month 18.12.2012
Renaissance Capital BRADLEY WAY hold 3 M 16 12 month 30.11.2012
JF Apex Securities Bhd TEAM COVERAGE hold 3 M #N/A N/A Not Provided 25.07.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 16 Not Provided 24.07.2012
Capital Securities Corp TEAM COVERAGE hold 3 M #N/A N/A Not Provided 29.03.2012
Industrial Securities FANG LEI buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
CNOOC Ltd
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
PetroChina Company Limited explores, develops, and produces crude oil and
natural gas. The Company also refines, transports, and distributes crude oil
and petroleum products, produces and sells chemicals, and transmits, markets
and sells natural gas.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (02.05.2012) 11.82
52-Week Low (05.09.2012) 9.03
Daily Volume
9.87
52-Week High % Change -16.50% Dividend Yield -
52-Week Low % Change 9.30% Beta 0.93
% 52 Week Price Range High/Low 30.11% Equity Float 20'807.38
Shares Out 31.03.2013 21'098.9 Short Int -
1'936'725.13 1 Yr Total Return -12.60%
Total Debt 447'286.00 YTD Return -10.11%
Preferred Stock 0.0 Adjusted BETA 0.934
Minority Interest 116'619.0 Analyst Recs 32
Cash and Equivalents 49'953.00 Consensus Rating 3.563
Enterprise Value 2'109'286.31
Average Volume 5 Day 71'054'550
857 HK EQUITY YTD Change - Average Volume 30 Day 68'013'610
857 HK EQUITY YTD % CHANGE - Average Volume 3 Month 68'100'180
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
1'072'604.0 1'019'275.0 1'465'415.0 2'003'843.0 1'949'218.0 ######### ######### ######### ######### 608'986.0 652'358.0
1.78x 2.57x 1.54x 1.04x 1.11x 4.13x 4.09x 0.91x 0.89x - -
256'680.0 237'168.0 303'643.0 323'368.0 325'453.0 157'781.0 71'646.0 370'951.4 400'123.0 - -
7.45x 11.04x 7.43x 6.43x 6.65x 0.00x 0.00x 5.69x 5.27x - -
114'453.0 103'387.0 139'992.0 132'961.0 115'323.0 135'143.0 112'189.0 134'299.3 144'471.8 32'281.0 30'063.0
9.49x 14.65x 11.33x 10.74x 14.02x 12.20x 13.14x 10.68x 9.92x - -
EBITDA 325'453.00 Long-Term Rating Date -
EBIT 174'918.00 Long-Term Rating -
Operating Margin 8.97% Long-Term Outlook -
Pretax Margin 8.56% Short-Term Rating Date -
Return on Assets 5.18% Short-Term Rating -
Return on Common Equity 10.46%
Return on Capital - EBITDA/Interest Exp. 14.19
Asset Turnover 0.94% (EBITDA-Capex)/Interest Exp. -0.24
Net Debt/EBITDA -
Gross Margin 16.1% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin 8.6% Total Debt/Equity 42.0%
Net Income Margin 5.9% Total Debt/Capital 27.5%
Asset Turnover 0.94
Current Ratio 0.73 Net Fixed Asset Turnover 2.57
Quick Ratio 0.22 Accounts receivable turnover-days 15.76
Debt to Assets 20.62% Inventory Days -
Tot Debt to Common Equity 42.03% Accounts Payable Turnover Day -
Accounts Receivable Turnover 23.15 Cash Conversion Cycle 14.58
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
PetroChina Co Ltd
Price/Volume
Valuation Analysis
55'776'963.00
Current Price (5/dd/yy) Market Data
0
2
4
6
8
10
12
m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
20.0 M
40.0 M
60.0 M
80.0 M
100.0 M
120.0 M
140.0 M
160.0 M
0.0
500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
10.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 1'964'964'108 9.31 2'382'000 29.04.2013 Investment Advisor
ABERDEEN n/a ULT-AGG 1'909'262'023 9.05 - 16.04.2013 Unclassified
FRANKLIN RESOURCES n/a ULT-AGG 1'506'858'769 7.14 250'000 28.02.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 1'470'551'067 6.97 224'000 21.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 562'558'554 2.67 (15'095'200) 31.03.2013 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 350'420'000 1.66 - 31.12.2012 Investment Advisor
CHINA NATIONAL PETRO n/a 20F 291'518'000 1.38 - 31.03.2012 Government
HANG SENG INVESTMENT Multiple Portfolios MF-AGG 277'448'830 1.31 - 30.06.2012 Investment Advisor
STATE STREET n/a ULT-AGG 277'091'176 1.31 (9'760'632) 30.04.2013 Investment Advisor
FMR LLC n/a ULT-AGG 201'301'800 0.95 (33'685'999) 31.03.2013 Investment Advisor
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 78'740'272 0.37 (364'000) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 77'038'000 0.37 10'000'000 29.04.2013 Investment Advisor
MANULIFE FUNDS DIREC Multiple Portfolios MF-AGG 66'938'000 0.32 - 30.06.2012 Unclassified
HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 59'934'000 0.28 (14'076'000) 30.06.2012 Investment Advisor
DANSKE INVEST A/S Multiple Portfolios MF-AGG 59'346'335 0.28 1'406'000 31.03.2013 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 58'757'243 0.28 (10'296'000) 31.12.2012 Investment Advisor
BARING ASSET MANAGEM Multiple Portfolios MF-AGG 54'274'000 0.26 (72'000) 31.12.2012 Investment Advisor
PRINCIPAL FINANCIAL n/a ULT-AGG 53'337'703 0.25 16'205'700 31.03.2013 Investment Advisor
GRANTHAM MAYO VAN OT Multiple Portfolios MF-AGG 45'153'121 0.21 - 31.05.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 41'892'000 0.2 10'046'000 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies LABAN YU buy 5 M 15 12 month 30.04.2013
Sanford C. Bernstein & Co NEIL BEVERIDGE market perform 3 M 11 12 month 30.04.2013
UOB Kay Hian YAN SHI hold 3 M 11 Not Provided 29.04.2013
Deutsche Bank DAVID HURD hold 3 M 11 12 month 26.04.2013
Morgan Stanley ANDY MENG Equalwt/Attractive 3 M 10 12 month 26.04.2013
Bank of China International LAWRENCE LAU buy 5 M 12 Not Provided 26.04.2013
Nomura SONIA SONG neutral 3 M 11 Not Provided 25.04.2013
Mirae Asset Securities GORDON KWAN buy 5 M 13 12 month 08.04.2013
Credit Suisse DAVID HEWITT neutral 3 M 11 Not Provided 04.04.2013
BNP Paribas Equity Research CHENG KHOO hold 3 M 10 12 month 27.03.2013
Standard Chartered DUKE SUTTIKULPANICH outperform 5 M 14 12 month 22.03.2013
Mizuho Securities ANDREW S F CHAN underperform 1 M 9 12 month 22.03.2013
China International Capital Corp BIN GUAN accumulate 4 U 11 12 month 22.03.2013
BOCOM International Holdings WU FEI long-term buy 5 M 11 Not Provided 22.03.2013
ICBC International Securities ANNA YU hold 3 M 10 Not Provided 22.03.2013
JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 8 6 month 21.03.2013
HSBC THOMAS C HILBOLDT underweight 1 M 10 Not Provided 21.03.2013
Macquarie JAMES HUBBARD neutral 3 M 11 12 month 21.03.2013
VTB Capital COLIN SMITH sell 1 M 9 12 month 21.03.2013
Goldman Sachs ARTHUR YAN neutral/neutral 3 M 11 12 month 18.03.2013
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 06.03.2013
Daiwa Securities Co. Ltd. ADRIAN LOH outperform 5 M 12 Not Provided 11.12.2012
Renaissance Capital BRADLEY WAY buy 5 M 13 12 month 30.11.2012
Masterlink Securities LI XIN hold 3 D 12 Not Provided 28.11.2012
Ji Asia SAMUEL THAWLEY neutral 3 D 10 Not Provided 08.11.2012
Capital Securities Corp TEAM COVERAGE hold 3 D #N/A N/A Not Provided 31.10.2012
Citic Securities Co., Ltd HUANG LILI overweight 5 D 11 6 month 24.08.2012
Guotai Junan GRACE LIU accumulate 4 D 11 Not Provided 14.08.2012
Everbright Securities Co., Ltd VIVIAN CHEUNG not rated #N/A N/A M #N/A N/A Not Provided 31.05.2012
SWS Research Co Ltd YE RONG neutral 3 M 10 Not Provided 28.10.2011
Industrial Securities FANG LEI strong buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
PetroChina Co Ltd
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
01.05.2013
China Petroleum and Chemical Corporation (Sinopec) refines, produces and trades
petroleum and petrochemical products such as gasoline, diesel, jet fuel,
kerosene, ethylene, synthetic fibers, synthetic rubber, synthetic resins, and
chemical fertilizers. Also, The company explores for and produces crude oil and
natural gas in China.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (30.01.2013) 9.57
52-Week Low (11.07.2012) 6.38
Daily Volume
8.49
52-Week High % Change -11.29% Dividend Yield 4.45
52-Week Low % Change 33.07% Beta 0.81
% 52 Week Price Range High/Low 66.14% Equity Float 18'405.32
Shares Out 31.03.2013 19'625.7 Short Int -
759'992.06 1 Yr Total Return 6.85%
Total Debt 284'546.00 YTD Return -3.30%
Preferred Stock 0.0 Adjusted BETA 0.811
Minority Interest 37'122.0 Analyst Recs 30
Cash and Equivalents 10'864.00 Consensus Rating 3.900
Enterprise Value 918'193.81
Average Volume 5 Day 92'013'100
386 HK EQUITY YTD Change - Average Volume 30 Day 90'820'000
386 HK EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
1'387'077.0 1'212'168.0 1'876'758.0 2'463'767.0 2'733'618.0 ######### ######### ######### ######### 732'951.0 722'780.0
0.59x 1.09x 0.48x 0.35x 0.34x 1.39x 1.32x 0.32x 0.32x - -
29'228.0 151'545.0 178'098.0 170'962.0 169'557.0 0.0 0.0 196'859.4 210'220.4 - -
27.82x 8.73x 5.03x 5.05x 5.45x 0.00x 0.00x 4.66x 4.37x - -
28'445.0 62'677.0 71'782.0 73'225.0 63'879.0 64'025.0 66'501.0 77'451.9 81'160.5 18'164.0 18'745.0
12.59x 8.42x 7.62x 7.84x 9.60x 9.29x 9.60x 7.81x 7.46x - -
EBITDA 169'557.00 Long-Term Rating Date 16.12.2010
EBIT 99'101.00 Long-Term Rating A+
Operating Margin 3.63% Long-Term Outlook STABLE
Pretax Margin 3.32% Short-Term Rating Date -
Return on Assets 5.30% Short-Term Rating -
Return on Common Equity 12.99%
Return on Capital 9.42% EBITDA/Interest Exp. 14.05
Asset Turnover 2.27% (EBITDA-Capex)/Interest Exp. 1.98
Net Debt/EBITDA 1.61
Gross Margin - Total Debt/EBITDA 1.68
EBITDA Margin 6.2%
EBIT Margin 3.6% Total Debt/Equity 55.7%
Net Income Margin 2.3% Total Debt/Capital 34.2%
Asset Turnover 2.27
Current Ratio 0.71 Net Fixed Asset Turnover 3.65
Quick Ratio 0.22 Accounts receivable turnover-days 12.59
Debt to Assets 22.46% Inventory Days -
Tot Debt to Common Equity 55.69% Accounts Payable Turnover Day -
Accounts Receivable Turnover 29.06 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
China Petroleum & Chemical Corp
Price/Volume
Valuation Analysis
78'686'338.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
0
1
2
3
4
5
6
7
8
9
10
m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
100.0 M
200.0 M
300.0 M
400.0 M
500.0 M
600.0 M
0.0
500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
3'000'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
1.00
2.00
3.00
4.00
5.00
6.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China
Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China

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Fundamental Equity Analysis & Recommandations - The Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue from mainland China

  • 1. Fundamental Analysis & Analyst Recommendations Hang Seng Mainland 100 - 100 largest companies which derive the majority of their sales revenue (or profit or assets if more relevant) from mainland China, including H shares, Red Chips and shares of otherHong Kong-listed Mainland companies. May 2013 Q.M.S Advisors Q.M.S Advisors | Avenue de la Gare, 1 1003 Lausanne | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com | This material does not constitute investment advice and should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or to adopt any investment strategy.
  • 2. Currency Market Capitalization (in mio USD) Daily Volume (M) Total Common Shares (M) Total Debt (USD) Preferred Stock (USD) Minority Interest (USD) Cash and Equivalents (USD) Enterprise Value (USD) Tot. Rev. - LFY Est. Tot. Rev. - Tr. 12M Est. Tot. Rev. - 2013 Est. Tot. Rev. - 2014 EBITDA - LFY Est. EBITDA - Tr. 12M Est. EBITDA - 2013 Est. EBITDA - 2014 EPS - LFY Est. EPS - Tr. 12M Est. EPS - 2013 Est. EPS - 2014 P/E Ratio - LFY Est. P/E Ratio - Tr. 12M Est. P/E Ratio - 2013 Est. P/E Ratio - 2014 Est. Revenue Growth - 1Y Est. Revenue Growth - 5Y Est. EBITDA Growth - 1Y Est. Est. EBITDA Growth - 5Y Est. EBITDA Margin - S&P LT Credit Rating - S&P LT Credit Rating Date Moody's LT Credit Rating Moody's LT Credit Rating Date S&P 500 INDEX USD 14664995 1960.721 1107 1107 204 218 218 101.88 110.18 110.18 15.64 15.64 14.46 14.46 18.83 Euro Stoxx 50 Pr EUR 2665458 5644.23 4685 4685 751 783 783 212.38 307.58 307.58 21.91 18.23 15.13 15.13 20.12 NIKKEI 225 JPY 2754343 195.4507 193 193 18 22 22 5.03 6.89 6.89 0.29 0.28 0.21 0.21 0.11 FTSE 100 INDEX GBP 2770298 12036.34 9308 9308 1468 1668 1668 548.60 826.37 826.37 28.19 23.76 18.71 18.71 23.07 SWISS MARKET INDEX CHF 1069323 11302.06 4148 4148 879 844 844 422.09 560.69 560.69 21.41 18.40 16.12 16.12 22.77 S&P/TSX COMPOSITE INDEX CAD 1638689 17043.62 7901 7901 1862 2073 2073 795.38 870.10 870.10 15.16 15.16 13.86 13.86 24.48 S&P/ASX 200 INDEX AUD 1457007 6845.162 2833 2833 630 701 701 250.06 336.12 336.12 22.19 17.81 16.51 16.51 23.22 HANG SENG INDEX HKD 1731677 3400.73 1701 1701 364 405 405 274.80 269.60 269.60 1.37 1.50 1.40 1.40 2.97 MSCI EM USD 7701703 1416.96 7066542 7066542 196 195 195 85.16 95.99 95.99 12.07 13.13 10.70 10.70 19.56 CHINA CONSTRUCTION BANK-H HKD 208593 251808 250011 147 0 1 450 91935 92014 64985 72073 - - - - 0.10 0.10 0.11 0.11 0.82 - 0.80 0.75 3.09 - - - - A 29.11.2011 - - CHINA MOBILE LTD HKD 220019 15563 20100 4 0 0 52 126.95 72210 72210 76257 80120 33087 33087 - - 0.83 0.83 0.81 0.78 1.35 - 1.38 1.43 0.79 1.17 -0.02 0.70 5.90 AA- 16.12.2010 WR 03.11.2005 IND & COMM BK OF CHINA-H HKD 233730 263220 349620 264 0 0 561 109571 110691 75124 83200 - - - - 0.09 0.09 0.09 0.10 0.79 - 0.78 0.72 2.67 1.91 - - - A 28.08.2012 - - TENCENT HOLDINGS LTD HKD 63578 4940 1853 1 0 0 4 48.49 5656 5656 7476 9294 2264 2242 679 679 0.88 0.90 1.15 1.41 3.91 - 3.06 2.49 6.96 7.97 4.06 7.46 5.11 BBB+ 14.11.2011 Baa1 14.11.2011 BANK OF CHINA LTD-H HKD 130132 356119 279142 289 0 5 407 79771 79771 50747 55617 - - - - 0.06 0.06 0.07 0.07 0.74 - 0.73 0.69 2.63 1.78 - - - A 29.11.2011 - - CNOOC LTD HKD 83299 66687 44646 7 0 0 17 56.40 31907 31907 32354 34662 15166 15166 - - 0.18 0.18 0.18 0.18 1.04 - 1.08 1.04 0.36 2.90 -0.15 2.45 6.12 AA- 16.12.2010 - - PETROCHINA CO LTD-H HKD 249549 55777 183021 58 0 15 6 271.78 251159 261024 299875 313785 41935 - - - 0.08 0.08 0.09 0.10 1.63 - 1.38 1.28 -0.35 2.74 0.08 0.49 - - - - - CHINA PETROLEUM & CHEMICAL-H HKD 97926 78686 86820 37 0 5 1 118.31 352230 352230 364921 377404 21848 21848 - - 0.09 0.09 0.11 0.12 1.18 - 1.01 0.96 1.41 2.34 -0.11 0.76 0.80 A+ 16.12.2010 - - CHINA LIFE INSURANCE CO-H HKD 76935 38036 28265 18 0 0 9 47860 47860 55033 60707 - - - - 0.05 0.05 0.14 0.16 5.56 5.56 2.06 1.77 0.04 2.90 - - - AA- 16.12.2010 - - PING AN INSURANCE GROUP CO-H HKD 55688 17662 7916 79 0 6 22 82.52 44008 44008 47122 53896 - - - - 0.33 0.33 0.47 0.54 2.49 2.49 1.73 1.50 3.25 13.53 - - - - - - - CHINA OVERSEAS LAND & INVEST HKD 24957 13287 8173 8 0 0 5 27.41 8321 8321 10373 12206 2978 2978 - - 0.30 0.30 0.30 0.35 1.33 - 1.32 1.13 3.33 5.24 2.77 3.58 4.61 BBB+ 22.04.2013 - - CHINA SHENHUA ENERGY CO-H HKD 66829 20268 19890 11 0 6 7 63.60 32246 32246 33748 36514 11341 11341 - - 0.32 0.32 0.31 0.32 1.14 1.14 1.16 1.12 2.53 3.26 0.48 2.09 4.53 - - - - WANT WANT CHINA HOLDINGS LTD HKD 20964 8762 13228 0 0 0 0 2.64 433 433 528 629 104 104 - - 0.01 0.01 0.01 0.01 4.87 - 4.00 3.35 1.80 3.42 4.67 3.22 3.10 - - - - AGRICULTURAL BANK OF CHINA-H HKD 142997 104266 324794 167 0 0 504 83737 83858 60528 67710 - - - - - 0.06 0.06 0.07 0.84 - 0.76 0.69 2.40 - - - - A 17.12.2012 - - CHINA MERCHANTS BANK-H HKD 43149 21450 21577 79 0 0 124 22745 22760 16379 18668 - - - - 0.27 0.27 0.26 0.28 0.81 0.82 0.83 0.77 3.04 2.85 - - - BBB+ 06.12.2011 - - HENGAN INTL GROUP CO LTD HKD 12701 3034 1229 1 0 0 1 12.96 2387 2387 2905 3460 685 685 - - 0.37 0.37 0.43 0.52 3.61 - 3.08 2.58 1.11 3.48 6.36 3.79 3.70 - - - - BELLE INTERNATIONAL HOLDINGS HKD 13758 16863 8434 0 0 0 1 10.14 4234 4234 4890 5579 812 772 892 892 0.07 0.07 0.07 0.08 2.51 2.51 2.26 1.97 1.74 2.77 0.57 3.23 2.35 - - - - CHINA PACIFIC INSURANCE GR-H HKD 29107 6463 9062 8 0 0 3 9.10 21537 21537 24536 27658 - - - - 0.08 0.08 0.14 0.17 4.84 4.86 2.62 2.21 0.97 2.81 - - - - - - - CHINA TELECOM CORP LTD-H HKD 41296 44469 80932 13 0 0 4 41.57 36474 36474 40829 44589 9128 9268 - - 0.02 0.02 0.03 0.04 2.19 2.19 1.80 1.48 2.00 1.26 -0.77 -0.61 3.27 - - - - CHINA MINSHENG BANKING-H HKD 43400 30060 28366 136 0 1 189 23118 24527 14985 17361 - - - - 0.17 0.18 0.18 0.20 0.72 - 0.72 0.66 4.17 4.24 - - - NR 11.07.2006 - - BANK OF COMMUNICATIONS CO-H HKD 57312 33392 74263 134 0 0 172 34925 34967 21025 23309 - - - - - 0.11 0.11 0.11 0.71 - 0.76 0.73 3.08 2.60 - - - A- 06.12.2011 WR 02.12.1999 CHINA UNICOM HONG KONG LTD HKD 33825 20410 23565 18 0 0 2 43.03 32074 32074 36778 40672 9482 9482 - - 0.04 0.04 0.06 0.08 3.80 - 2.49 1.80 2.45 0.51 1.93 -0.14 3.81 - - - - KUNLUN ENERGY CO LTD HKD 15748 17993 8051 4 0 2 3 19.59 4246 4246 5598 7093 1992 1992 2504 2504 0.11 0.11 0.13 0.15 2.33 - 1.92 1.65 3.50 8.43 3.59 7.37 6.05 - - - - CHINA RESOURCES POWER HOLDIN HKD 15622 6069 4763 10 0 2 1 27.31 8045 8045 9348 10461 2360 2360 - - 0.22 0.20 0.26 0.28 2.06 - 1.64 1.48 0.37 3.41 4.41 3.29 3.78 BBB 19.04.2011 Baa3 14.09.2010 CHINA RESOURCES LAND LTD HKD 17645 5390 5827 7 0 1 3 22.59 5716 5716 7730 9460 1812 1802 - - 0.23 0.23 0.20 0.25 1.66 - 1.93 1.53 3.08 8.09 2.32 6.70 4.06 BBB 03.05.2011 Baa1 11.04.2013 LENOVO GROUP LTD HKD 9537 34514 10336 0 0 0 1 0.78 3811 4321 4394 4864 108 127 27 27 0.01 0.01 0.01 0.01 2.11 - 1.96 1.63 4.76 2.28 5.48 2.41 0.38 - - - - TINGYI (CAYMAN ISLN) HLDG CO HKD 15461 6506 5593 0 0 0 0 2.20 1187 1187 1402 1603 129 129 - - 0.01 0.01 0.01 0.01 4.38 - 3.91 3.21 2.20 2.52 1.37 2.08 1.40 BBB+ 05.06.2012 - - CHINA CITIC BANK CORP LTD-H HKD 30477 53125 46787 59 0 1 114 19810 19809 12704 14217 - - - - 0.08 0.08 0.09 0.10 0.68 0.68 0.63 0.58 3.93 3.54 - - - - - - - GREAT WALL MOTOR COMPANY-H HKD 16176 5215 3042 1 0 0 1 12.54 5356 5356 6659 7833 971 971 - - - 0.24 0.29 0.34 1.84 - 1.52 1.31 5.56 6.18 7.61 - 2.34 - - - - ANHUI CONCH CEMENT CO LTD-H HKD 16130 6615 5299 3 0 0 1 14.95 5866 5879 7104 7924 1454 1524 - - 0.14 0.15 0.21 0.24 2.42 2.56 1.73 1.51 -0.83 2.68 -5.13 2.13 3.34 - - - - ENN ENERGY HOLDINGS LTD HKD 6265 3143 1083 1 0 1 5.89 2323 2323 2845 3468 476 476 528 528 0.18 0.18 0.23 0.27 3.31 - 2.63 2.20 2.53 2.98 3.48 3.50 2.64 BBB- 18.10.2012 Baa3 18.10.2012 CHINA COMMUNICATIONS CONST-H HKD 13670 25231 16175 19 0 1 12 24.37 37170 37551 42959 47152 3200 3235 3607 3607 0.09 0.10 0.11 0.12 1.00 1.02 0.91 0.81 0.06 1.67 2.21 2.11 1.11 - - - - COUNTRY GARDEN HOLDINGS CO HKD 10335 15785 18230 5 0 0 2 11.49 5398 5398 6349 7451 1557 1557 - - 0.05 0.05 0.06 0.06 1.18 - 1.05 0.90 2.65 2.76 2.91 1.60 3.72 BB 03.09.2009 Ba3 23.03.2010 CHINA RESOURCES ENTERPRISE HKD 8234 3332 2401 2 0 2 2 10.14 16266 16266 18759 21651 920 802 - - 0.11 0.21 0.11 0.13 2.09 3.71 4.07 3.28 1.88 2.60 0.02 1.27 0.64 - - - - DONGFENG MOTOR GRP CO LTD-H HKD 12834 10776 8616 2 0 0 4 8.65 15982 15982 17848 19439 1876 1876 - - 0.14 0.14 0.15 0.16 1.12 1.12 1.05 0.98 -0.73 2.00 -1.26 2.59 1.51 - - - - CHINA MERCHANTS HLDGS INTL HKD 7882 2896 2491 2 0 1 1 10.77 1420 1420 1171 1222 574 574 694 694 0.17 0.20 0.22 0.25 2.06 - 1.85 1.65 2.11 5.86 0.53 2.44 5.21 BBB 17.02.2005 - - BEIJING ENTERPRISES HLDGS HKD 8561 1768 1138 3 0 1 2 11.43 4583 4583 5335 6371 535 535 815 815 0.32 0.37 0.44 0.53 2.61 3.02 2.19 1.82 2.16 2.52 -0.07 1.57 1.50 A- 28.04.2011 - - CHINA MENGNIU DAIRY CO HKD 5014 4578 1768 0 0 0 1 3.36 4649 4649 5371 6140 318 316 202 202 0.09 0.09 0.12 0.14 3.15 2.72 2.46 2.03 -0.45 1.37 -0.60 1.14 0.88 - - - - HUANENG POWER INTL INC-H HKD 14958 10301 14055 17 0 1 1 28.10 17175 17175 18339 19376 3756 3750 - - 0.05 0.05 0.09 0.09 2.24 2.22 1.38 1.25 0.03 2.71 4.83 1.85 2.81 NR 14.04.2010 - - BRILLIANCE CHINA AUTOMOTIVE HKD 6152 11268 5026 0 0 0 0 5.03 762 762 777 826 3 3 - - 0.06 0.06 0.08 0.09 2.12 - 1.61 1.34 -1.05 27.90 -12.12 -6.69 0.05 - - - - AAC TECHNOLOGIES HOLDINGS IN HKD 5989 3766 1228 0 0 0 0 4.77 810 810 1071 1271 290 290 68 68 0.19 0.18 0.24 0.29 2.70 2.69 2.09 1.75 7.06 3.74 7.28 3.45 4.62 - - - - PICC PROPERTY & CASUALTY -H HKD 15729 17177 12256 3 0 0 2 13.24 20997 20997 26312 29865 - - - - 0.11 0.11 0.12 0.13 1.20 1.20 1.11 1.02 2.45 2.31 - - - - - - - CHINA NATIONAL BUILDING MA-H HKD 6372 57226 5399 20 0 2 1 25.34 11238 11238 14406 16361 3399 3399 - - 0.13 0.13 0.17 0.20 0.91 - 0.72 0.60 1.15 7.04 3.78 8.78 3.90 - - - - SUN ART RETAIL GROUP LTD HKD 13325 3875 9540 0 0 0 1 9.71 10031 10031 11743 13976 671 677 - - 0.03 0.03 0.04 0.04 4.44 4.41 3.85 3.30 1.85 - 4.03 - 0.87 - - - - CHINA OILFIELD SERVICES-H HKD 10483 4406 4495 4 0 0 2 11.08 2848 2848 3247 3507 1148 1148 - - 0.13 0.13 0.15 0.16 1.54 1.51 1.34 1.24 2.57 2.91 1.19 2.32 5.19 A- 20.12.2012 - - CHINA COAL ENERGY CO-H HKD 13268 47417 13259 6 0 2 3 15.41 11248 11248 11720 13123 2267 2267 - - 0.09 0.09 0.08 0.08 0.91 0.91 1.01 0.94 -0.51 2.41 -0.95 1.97 2.60 - - - - SHIMAO PROPERTY HOLDINGS LTD HKD 7481 6556 3473 5 0 1 2 9.82 3692 3692 5133 6101 1055 1019 - - 0.22 0.21 0.22 0.26 1.03 - 0.99 0.84 1.30 3.27 -0.36 2.71 3.70 BB- 09.07.2012 B1 15.12.2008 KERRY PROPERTIES LTD HKD 6512 1558 1439 4 0 2 2 10.36 4447 4447 4299 4627 910 910 - - 0.62 0.62 0.41 0.41 0.94 - 1.44 1.43 8.64 2.77 12.31 2.26 2.64 BBB- 16.11.1998 - - JIANGXI COPPER CO LTD-H HKD 9704 11202 3463 3 0 0 3 7.90 20359 20359 19436 19859 897 908 - - 0.16 0.20 0.18 0.18 1.00 - 1.08 1.08 4.50 3.90 -2.56 0.16 0.57 - - - - SINOPHARM GROUP CO-H HKD 7628 3274 2403 3 0 1 1 8.73 17496 17496 21493 26180 728 727 - - 0.10 0.11 0.13 0.16 2.88 3.18 2.39 1.95 4.23 - 4.84 5.65 0.54 - - - - Valuation Measures I/II Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 3. Currency Market Capitalization (in mio USD) Daily Volume (M) Total Common Shares (M) Total Debt (USD) Preferred Stock (USD) Minority Interest (USD) Cash and Equivalents (USD) Enterprise Value (USD) Tot. Rev. - LFY Est. Tot. Rev. - Tr. 12M Est. Tot. Rev. - 2013 Est. Tot. Rev. - 2014 EBITDA - LFY Est. EBITDA - Tr. 12M Est. EBITDA - 2013 Est. EBITDA - 2014 EPS - LFY Est. EPS - Tr. 12M Est. EPS - 2013 Est. EPS - 2014 P/E Ratio - LFY Est. P/E Ratio - Tr. 12M Est. P/E Ratio - 2013 Est. P/E Ratio - 2014 Est. Revenue Growth - 1Y Est. Revenue Growth - 5Y Est. EBITDA Growth - 1Y Est. Est. EBITDA Growth - 5Y Est. EBITDA Margin - S&P LT Credit Rating - S&P LT Credit Rating Date Moody's LT Credit Rating Moody's LT Credit Rating Date S&P 500 INDEX USD 14664995 1960.721 1107 1107 204 218 218 101.88 110.18 110.18 15.64 15.64 14.46 14.46 18.83 Euro Stoxx 50 Pr EUR 2665458 5644.23 4685 4685 751 783 783 212.38 307.58 307.58 21.91 18.23 15.13 15.13 20.12 NIKKEI 225 JPY 2754343 195.4507 193 193 18 22 22 5.03 6.89 6.89 0.29 0.28 0.21 0.21 0.11 FTSE 100 INDEX GBP 2770298 12036.34 9308 9308 1468 1668 1668 548.60 826.37 826.37 28.19 23.76 18.71 18.71 23.07 SWISS MARKET INDEX CHF 1069323 11302.06 4148 4148 879 844 844 422.09 560.69 560.69 21.41 18.40 16.12 16.12 22.77 S&P/TSX COMPOSITE INDEX CAD 1638689 17043.62 7901 7901 1862 2073 2073 795.38 870.10 870.10 15.16 15.16 13.86 13.86 24.48 S&P/ASX 200 INDEX AUD 1457007 6845.162 2833 2833 630 701 701 250.06 336.12 336.12 22.19 17.81 16.51 16.51 23.22 HANG SENG INDEX HKD 1731677 3400.73 1701 1701 364 405 405 274.80 269.60 269.60 1.37 1.50 1.40 1.40 2.97 MSCI EM USD 7701703 1416.96 7066542 7066542 196 195 195 85.16 95.99 95.99 12.07 13.13 10.70 10.70 19.56 CHINA RESOURCES GAS GROUP LT HKD 6233 2635 2224 2 0 2 6.60 2524 2524 3189 4107 490 490 - - 0.11 0.11 0.12 0.15 3.42 - 2.95 2.35 4.88 11.69 5.31 5.21 2.50 - - (P)Baa1 21.03.2012 TSINGTAO BREWERY CO LTD-H HKD 8658 1297 1351 0 0 0 1 6.11 3038 3122 3771 4318 360 - 156 156 0.14 0.17 0.20 0.23 4.01 - 3.50 3.03 1.49 1.59 -0.05 1.35 - - - - - GUANGDONG INVESTMENT LTD HKD 6036 8924 6234 0 0 1 1 6.32 997 997 1066 1169 641 634 - - 0.07 0.07 0.07 0.07 1.77 - 1.89 1.76 1.03 1.04 0.84 0.81 8.20 - - - - SINO-OCEAN LAND HOLDINGS HKD 3869 10293 5826 4 0 0 1 6.30 3693 3693 4254 4840 766 766 - - 0.09 0.09 0.06 0.07 0.79 - 1.14 0.93 5.67 - 3.27 4.01 2.67 - - - - CHINA LONGYUAN POWER GROUP-H HKD 7415 12014 8036 8 0 1 1 13.65 2228 2228 2500 2877 1253 1482 - - 0.05 0.04 0.05 0.06 2.10 - 1.89 1.52 0.55 - 2.85 4.30 8.57 BBB+ 29.11.2012 - - EVERGRANDE REAL ESTATE GROUP HKD 6546 52460 14991 8 0 0 2 11.12 8409 8409 10793 12420 1630 1947 - - 0.08 0.08 0.07 0.08 0.53 0.44 0.61 0.52 0.70 - -2.61 12.74 2.91 BB 29.11.2009 B2 10.01.2011 GEELY AUTOMOBILE HOLDINGS LT HKD 4157 26017 8259 0 0 0 1 3.28 3173 3173 3872 4563 451 451 - - 0.03 0.03 0.04 0.05 1.48 - 1.34 1.13 2.25 159.41 2.40 - 1.83 - - - - LONGFOR PROPERTIES HKD 9070 3783 5429 4 0 0 2 9.41 3594 3594 5783 6430 1249 1249 - - 0.15 0.16 0.15 0.18 1.10 - 1.12 0.97 2.03 - 1.86 8.90 4.48 BB+ 02.03.2011 Ba2 20.03.2013 CHINA GAS HOLDINGS LTD HKD 4504 3859 4383 2 0 0 1 5.93 2440 2524 2772 3354 371 391 - - 0.03 0.04 0.04 0.05 3.12 - 3.09 2.66 2.50 8.30 3.07 6.97 2.00 - - - - COSCO PACIFIC LTD HKD 3691 6364 2786 0 0 0 0 0.77 95 95 104 114 51 51 58 58 0.02 0.02 0.02 0.02 1.36 - 1.22 1.06 2.93 2.57 3.06 2.22 6.89 - - - - NEW CHINA LIFE INSURANCE C-H HKD 11966 1649 3120 10 0 0 25 14615 14615 16572 18642 - - - - - 0.12 0.18 0.22 3.14 - 2.09 1.73 0.60 - - - - - - - - CHINA RAILWAY GROUP LTD-H HKD 9952 37351 21300 24 0 1 9 22.73 60405 60220 66185 71168 2530 2528 2729 2729 - 0.04 0.05 0.05 1.21 - 1.10 1.00 0.77 2.97 0.45 2.84 0.54 BBB+ 23.01.2013 - - HAITONG SECURITIES CO LTD-H HKD 16231 15825 9585 3 0 0 7 9.70 1272 1272 1579 1922 654 654 722 722 - 0.04 0.06 0.07 3.47 - 2.63 2.12 -0.57 0.56 0.19 -1.05 6.62 - - - - YANZHOU COAL MINING CO-H HKD 9322 17850 4918 6 0 0 2 12.91 7492 7566 7091 7788 1252 1206 - - 0.18 0.15 0.08 0.10 0.70 - 1.26 1.11 2.35 4.11 -4.83 1.39 2.05 BBB- 27.04.2012 Baa3 27.04.2012 CHOW TAI FOOK JEWELLERY GROU HKD 13452 3252 10000 2 0 0 1 14.28 7289 7289 7721 9208 1204 1204 - - 0.09 0.09 0.07 0.09 1.96 1.92 2.36 1.91 7.92 - 7.84 - 2.13 - - - - CITIC SECURITIES CO LTD-H HKD 22492 9972 11017 3 0 0 7 14.31 1788 1788 2100 2591 932 932 1081 1081 0.05 0.05 0.07 0.09 4.74 4.79 3.19 2.50 2.30 -1.24 24.46 -2.52 6.72 BBB+ 18.10.2012 - - CITIC PACIFIC LTD HKD 4416 8145 3649 15 1 1 4 16.91 12018 12018 13142 15119 740 740 1255 1255 - 0.23 0.13 0.18 0.68 - 1.16 0.88 -0.48 1.93 -4.44 0.50 0.79 BB+ 18.07.2011 Ba1 06.04.2011 BYD CO LTD-H HKD 9047 3426 2354 2 0 0 0 11.08 5719 5719 6804 7410 585 585 - - 0.01 0.00 0.06 0.08 82.05 60.20 6.59 4.67 -0.54 1.95 -0.81 - 1.32 - - - - GUANGZHOU AUTOMOBILE GROUP-H HKD 5749 6345 6435 1 0 0 2 4.18 1624 1636 2064 2351 -106 -101 - - 0.02 0.02 0.05 0.07 3.52 - 1.60 1.17 2.13 - 1.08 - -0.80 - - - - HAIER ELECTRONICS GROUP CO HKD 4532 2630 2449 0 0 0 1 3.10 7166 7166 8090 9387 311 310 376 376 0.09 0.09 0.11 0.13 2.01 2.14 1.70 1.46 1.48 7.16 2.63 5.23 0.56 - - - - AGILE PROPERTY HOLDINGS LTD HKD 4462 5449 3449 4 0 0 1 6.65 3875 3875 4334 4873 1375 1262 - - 0.16 0.19 0.18 0.20 0.71 - 0.73 0.65 4.00 3.32 - 4.35 5.47 BB 04.09.2006 Ba2 13.04.2011 ZIJIN MINING GROUP CO LTD-H HKD 9796 29322 21812 3 0 1 1 10.45 6169 6169 6392 6485 1373 1373 - - 0.03 0.03 0.03 0.03 0.98 1.00 1.04 1.09 2.78 3.71 -0.09 1.93 2.87 - - - - WEICHAI POWER CO LTD-H HKD 7084 3728 1999 2 0 1 2 6.85 6182 6182 6991 7713 646 646 - - 0.17 0.19 0.23 0.27 1.85 2.41 1.52 1.30 -2.55 1.74 -5.29 0.43 1.35 - - - - AIR CHINA LTD-H HKD 10921 8637 12892 13 0 0 2 17.38 12642 12488 14416 15939 2357 2362 - - 0.04 0.05 0.06 0.07 1.69 - 1.37 1.14 0.66 2.22 0.20 3.63 2.44 - - - - KINGBOARD CHEMICAL HOLDINGS HKD 2324 2519 855 2 0 1 0 4.95 4805 4805 5194 5655 630 630 - - 0.31 0.32 0.37 0.42 1.11 - 0.95 0.83 0.26 1.81 -1.20 0.39 1.69 BBB- 15.06.2012 - - GCL-POLY ENERGY HOLDINGS LTD HKD 3131 71435 15476 5 0 0 1 7.77 2880 2880 3186 3893 424 417 - - -0.02 -0.03 0.00 0.01 - - 2.09 -1.60 - -8.20 6.76 1.87 NR 03.02.2012 - - XINYI GLASS HOLDINGS LTD HKD 2594 10914 3786 1 0 0 0 3.05 1261 1261 1521 1802 258 258 - - 0.04 0.04 0.06 0.07 2.16 - 1.53 1.24 2.44 3.65 0.49 2.50 2.64 - - - - SHANGHAI INDUSTRIAL HLDG LTD HKD 3426 595 1080 5 0 2 3 7.49 2485 2485 2579 3049 693 696 818 818 0.23 0.41 0.31 0.36 1.00 2.13 1.33 1.13 3.72 15.44 4.91 2.83 3.61 - - - - SHANDONG WEIGAO GP MEDICAL-H HKD 4297 6083 4476 0 0 0 0 3.28 475 475 586 712 129 - - - 0.03 0.03 0.04 0.04 3.41 - 2.80 2.30 2.06 2.84 - 4.54 - - - - - SOHO CHINA LTD HKD 4301 4662 5080 3 0 0 3 3.97 1972 1972 1885 1227 1126 1126 - - 0.24 0.27 0.08 0.06 0.33 - 1.05 1.54 21.81 - 29.69 2.95 7.36 BB+ 26.10.2012 Ba1 27.11.2012 ALUMINUM CORP OF CHINA LTD-H HKD 7674 11030 13524 14 0 1 1 21.87 19261 19299 19601 20816 222 - 137 137 -0.07 -0.08 -0.04 -0.02 - - 0.35 2.64 -10.44 -5.06 - - - - - CHINA TAIPING INSURANCE HOLD HKD 2906 1560 1706 6 0 1 2 7.88 8290 8290 9408 11031 - - - - 0.07 0.07 0.12 0.16 3.10 - 1.82 1.40 2.48 2.56 - - - BBB- 03.06.2009 - - NINE DRAGONS PAPER HOLDINGS HKD 4044 6013 4663 4 0 0 1 6.59 3501 3770 4008 4533 576 652 - - 0.04 0.03 0.04 0.06 2.60 - 1.97 1.41 1.47 2.42 0.58 1.52 2.23 NR 14.06.2011 - - CHINA EVERBRIGHT LTD HKD 2736 2828 1721 0 0 0 0 2.82 249 249 292 328 199 199 - - 0.09 0.09 0.14 0.16 2.40 2.36 1.46 1.25 5.54 15.81 6.35 0.01 10.27 - - - - ZOOMLION HEAVY INDUSTRY - H HKD 9138 13018 7706 3 0 0 3 7.96 6160 6179 6585 7312 1278 1260 - - 0.12 0.12 0.13 0.14 0.84 - 0.82 0.73 0.41 4.03 -0.37 5.81 2.63 BB+ 16.03.2012 - - FRANSHION PROPERTIES HKD 3128 2144 9161 4 0 1 2 5.82 2213 2213 2669 3350 794 794 - - 0.02 0.05 0.04 0.05 0.93 - 1.04 0.82 20.69 10.83 16.46 5.30 4.62 BB+ 29.11.2011 (P)Ba1 01.04.2011 SHOUGANG FUSHAN RESOURCES GR HKD 2070 35589 5302 0 0 0 1 1.82 728 728 720 769 423 423 - - 0.04 0.04 0.04 0.04 1.16 - 1.31 1.31 -2.69 437.54 -2.89 - 7.49 - - - - INTIME DEPARTMENT STORE HKD 2386 4324 2003 1 0 0 0 2.36 503 503 610 763 157 166 - - 0.06 0.06 0.07 0.07 1.96 - 1.84 1.63 3.27 4.34 1.96 3.21 4.26 BB 25.04.2013 - - UNI-PRESIDENT CHINA HOLDINGS HKD 3914 9501 3599 1 0 0 0 3.33 2758 2758 3371 4032 211 258 283 283 0.03 0.03 0.04 0.05 3.63 - 2.80 2.47 3.40 2.78 15.34 1.65 1.21 - - - - GOLDEN EAGLE RETAIL GROUP HKD 3340 4584 1935 0 0 0 1 2.40 467 467 540 637 230 229 - - 0.08 0.08 0.09 0.10 2.22 - 1.98 1.73 1.63 3.27 0.83 2.97 6.33 BBB- 25.04.2013 - - CHINA AGRI-INDUSTRIES HLDGS HKD 2577 11425 5250 4 0 0 1 5.81 11767 11767 13951 16001 300 392 601 601 0.01 0.04 0.05 0.06 1.78 - 1.33 1.07 1.40 3.21 66.24 1.55 0.43 - - - - CHINA RESOURCES CEMENT HKD 3755 9426 6519 3 0 0 0 6.23 3266 3266 3677 4159 663 663 - - 0.05 0.05 0.05 0.06 1.62 1.63 1.37 1.17 1.17 - -2.22 5.96 2.62 - - Aa1 05.11.2012 CHINA COSCO HOLDINGS-H HKD 5264 6759 10216 12 0 2 6 12.58 11381 11381 11159 11810 -958 - - - -0.12 -0.12 -0.02 0.01 - - 5.01 0.56 0.99 1.91 - - - - - - CHINA SHANSHUI CEMENT GROUP HKD 1593 8874 2816 2 0 0 0 2.96 2082 2082 2335 2592 534 534 593 593 0.10 0.07 0.08 0.09 0.83 0.73 0.69 0.63 -0.54 - -1.69 4.66 3.31 BB 08.05.2011 - - GOME ELECTRICAL APPLIANCES HKD 1696 22659 16873 2 0 0 1 2.12 6168 6168 7047 8106 -96 -96 - - 0.00 0.00 0.00 0.01 - 18.94 3.47 1.77 -2.57 0.49 - 3.17 -0.20 - - - - ZHONGSHENG GROUP HOLDINGS HKD 2651 1214 1908 3 0 0 1 4.22 6449 6449 7846 9309 335 335 - - 0.05 0.05 0.09 0.13 2.83 2.85 1.55 1.10 2.50 - -1.98 5.17 0.67 - - - - HUABAO INTERNATIONAL HOLDING HKD 1423 5942 3160 0 0 0 0 1.24 427 447 491 560 272 271 - - 0.07 0.07 0.07 0.08 0.84 - 0.84 0.76 2.07 2.78 1.48 3.81 7.82 - - - - ANTA SPORTS PRODUCTS LTD HKD 2089 2258 2494 0 0 0 1 1.07 982 982 820 847 194 194 163 163 0.07 0.07 0.05 0.05 1.22 - 1.65 1.62 -1.85 2.44 -2.96 3.09 2.54 - - - - CHINA YURUN FOOD GROUP LTD HKD 1085 5170 1823 1 0 0 0 1.67 3451 3451 4067 5118 10 10 - - -0.04 -0.04 -0.01 0.07 - - 1.16 -2.21 3.16 -12.47 -5.07 0.04 - - - - PARKSON RETAIL GROUP LTD HKD 1521 8231 2810 0 0 0 1 0.89 586 586 692 765 172 171 - - 0.05 0.04 0.04 0.05 1.42 - 1.34 1.22 0.54 1.24 -3.03 1.12 3.76 BB+ 21.04.2011 (P)Ba1 21.04.2013 Valuation Measures I/II Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 4. 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot S&P 500 INDEX 2.23 2.23 2.05 1.87 2.23 1.44 1.44 1.38 1.33 1.44 10.03 10.03 9.39 9.69 10.03 9.01 9.01 8.34 7.81 9.01 14.46 14.46 13.01 11.80 14.46 2.18 2.18 2.34 2.52 2.18 1719.1 7.9% Euro Stoxx 50 Pr 1.18 1.18 1.12 1.05 1.18 0.76 0.76 0.74 0.72 0.76 5.89 5.89 5.46 4.90 5.89 7.21 7.21 6.82 6.47 7.21 11.57 11.57 10.33 9.43 11.57 4.21 4.21 4.52 4.84 4.21 2915.9 7.1% NIKKEI 225 1.57 1.57 1.47 1.41 1.57 0.74 0.74 0.72 0.71 0.74 9.11 9.11 8.48 8.25 9.11 8.93 8.93 8.32 7.94 8.93 20.64 20.64 16.38 14.55 20.64 1.51 1.51 1.72 1.87 1.51 13153.7 -5.1% FTSE 100 INDEX 1.71 1.71 1.59 1.38 1.71 1.07 1.07 1.04 1.01 1.07 8.45 8.45 7.68 6.11 8.45 7.22 7.22 6.78 6.38 7.22 12.08 12.08 10.98 10.07 12.08 3.86 3.86 4.14 4.52 3.86 6931.4 7.5% SWISS MARKET INDEX 2.41 2.41 2.26 2.06 2.41 2.04 2.04 1.94 1.85 2.04 12.46 12.46 11.35 10.03 12.46 13.40 13.40 12.40 11.60 13.40 15.09 15.09 13.54 12.32 15.09 3.24 3.24 3.59 4.10 3.24 8289.2 4.7% S&P/TSX COMPOSITE INDEX 1.65 1.65 1.53 1.43 1.65 1.54 1.54 1.46 1.37 1.54 8.22 8.22 7.42 6.84 8.22 8.22 8.22 7.30 6.86 8.22 14.00 14.00 12.39 11.38 14.00 3.23 3.23 3.39 3.59 3.23 14254.0 15.8% S&P/ASX 200 INDEX 1.97 1.97 1.87 1.77 1.97 1.89 1.89 1.78 1.69 1.89 11.76 11.76 10.47 9.56 11.76 9.77 9.77 8.63 7.97 9.77 15.97 15.97 14.26 13.07 15.97 4.24 4.24 4.53 4.88 4.24 5163.8 -0.5% HANG SENG INDEX 1.35 1.35 1.24 1.14 1.35 1.72 1.72 1.59 1.47 1.72 8.08 8.08 7.58 7.25 8.08 8.39 8.39 7.65 7.05 8.39 10.87 10.87 9.98 9.03 10.87 3.56 3.56 3.85 4.24 3.56 24857.0 9.3% MSCI EM 1.44 1.44 1.31 1.21 1.44 0.00 0.00 0.00 0.00 0.00 6.95 6.95 6.42 6.05 6.95 7.28 7.28 6.64 6.27 7.28 10.70 10.70 9.62 8.97 10.70 3.11 3.11 3.56 3.46 3.11 1190.5 15.9% CHINA CONSTRUCTION BANK-H 1.37 1.20 1.06 0.93 2.82 2.55 2.30 2.05 4.49 6.07 6.30 6.37 6.70 6.24 5.81 5.26 5.17 5.42 5.79 6.57 7.34 13.0% CHINA MOBILE LTD 1.88 1.70 1.56 1.44 2.42 2.29 2.18 2.05 1.87 5.99 5.90 5.84 6.04 3.90 3.84 3.77 3.64 10.79 10.74 11.12 10.94 9.21 4.05 4.08 4.01 4.08 86.13 1.4% IND & COMM BK OF CHINA-H 1.36 1.17 1.03 0.90 2.71 2.47 2.23 2.01 4.47 5.56 5.86 5.86 6.53 6.04 5.60 5.10 5.37 5.65 6.09 6.85 6.54 19.7% TENCENT HOLDINGS LTD 9.52 7.08 5.33 4.24 6.41 8.93 6.76 5.43 4.38 4.11 23.51 22.05 16.71 15.97 15.75 20.65 17.16 13.87 12.25 10.51 29.99 23.75 19.29 16.56 22.17 0.35 0.47 0.54 0.69 0.39 282.49 6.1% BANK OF CHINA LTD-H 0.99 0.87 0.79 0.70 2.22 2.04 1.86 1.65 4.01 4.97 5.24 5.15 6.10 5.67 5.34 4.74 5.55 5.93 6.35 7.18 4.09 12.8% CNOOC LTD 1.64 1.42 1.26 1.13 1.05 2.15 2.05 1.91 1.86 1.77 5.30 5.30 4.87 4.95 4.32 3.55 3.45 3.21 2.95 2.88 7.93 8.39 8.10 7.96 8.71 2.77 3.19 3.32 3.43 3.74 16.89 16.6% PETROCHINA CO LTD-H 1.33 1.25 1.17 1.09 0.99 0.75 0.66 0.63 0.63 0.69 5.06 4.51 4.13 4.12 3.96 6.36 5.69 5.27 5.09 4.98 12.04 10.68 9.92 9.74 7.19 3.79 4.18 4.44 4.45 4.72 11.34 14.9% CHINA PETROLEUM & CHEMICAL-H 1.15 1.06 0.96 0.89 0.75 0.23 0.21 0.21 0.19 0.26 3.80 3.45 3.38 3.30 3.04 5.49 4.66 4.37 4.10 3.80 9.65 7.81 7.46 7.31 6.81 3.59 4.49 4.70 4.82 4.60 9.82 15.7% CHINA LIFE INSURANCE CO-H 2.24 1.94 1.74 1.49 1.25 1.11 1.01 0.96 42.85 16.01 13.74 11.06 0.99 1.88 2.27 2.71 25.46 20.1% PING AN INSURANCE GROUP CO-H 2.49 2.11 1.82 1.52 1.03 0.94 0.82 0.72 17.35 13.43 11.64 9.84 0.91 1.13 1.37 1.81 76.49 24.5% CHINA OVERSEAS LAND & INVEST 2.33 1.90 1.62 1.39 2.91 2.41 2.04 1.77 8.22 7.49 5.71 5.00 8.75 7.57 6.47 5.48 12.42 10.23 8.73 7.42 1.59 1.91 2.24 2.69 25.18 6.2% CHINA SHENHUA ENERGY CO-H 1.69 1.52 1.39 1.24 1.19 1.73 1.57 1.45 1.40 1.45 6.47 6.04 5.47 5.34 5.81 5.48 5.08 4.78 5.86 9.21 9.02 8.72 8.28 10.85 4.19 4.34 4.53 4.73 3.62 34.71 26.5% WANT WANT CHINA HOLDINGS LTD 13.10 11.01 9.27 8.17 5.94 5.11 4.30 3.65 31.08 24.38 21.42 19.57 25.67 21.06 17.77 15.14 38.66 31.08 25.98 22.01 1.58 2.02 2.40 2.90 11.41 -7.2% AGRICULTURAL BANK OF CHINA-H 1.26 1.09 0.97 0.84 2.07 1.88 1.68 1.50 3.98 5.46 5.46 5.46 6.45 5.92 5.36 4.78 5.23 5.73 6.04 7.06 4.25 14.7% CHINA MERCHANTS BANK-H 1.44 1.24 1.07 0.92 0.92 2.34 2.09 1.84 1.58 6.66 6.41 5.97 5.37 6.81 3.73 4.06 4.36 5.07 4.41 18.18 9.9% HENGAN INTL GROUP CO LTD 7.14 6.24 5.53 4.90 5.06 4.37 3.67 3.11 27.63 22.88 18.78 16.51 19.97 16.80 14.16 12.14 28.13 23.88 20.00 17.40 2.19 2.55 3.02 3.46 84.08 4.8% BELLE INTERNATIONAL HOLDINGS 3.76 3.27 2.83 2.51 2.55 2.23 1.96 1.73 18.59 17.31 15.10 13.37 12.53 11.37 9.86 8.74 19.23 17.52 15.26 13.36 1.65 1.75 2.01 2.75 14.81 17.0% CHINA PACIFIC INSURANCE GR-H 2.15 1.94 1.78 1.56 1.09 0.94 0.84 0.75 34.36 20.32 17.11 14.49 1.16 1.71 1.97 2.64 33.63 20.5% CHINA TELECOM CORP LTD-H 0.96 0.92 0.88 0.83 0.77 0.90 0.80 0.74 0.68 0.63 3.60 3.27 2.59 2.50 2.14 4.45 3.41 3.13 2.90 2.68 17.38 13.98 11.52 9.59 8.74 2.23 2.57 2.99 3.53 3.81 4.73 19.4% CHINA MINSHENG BANKING-H 1.36 1.15 0.96 0.81 2.62 2.30 1.99 1.70 5.21 6.04 5.56 5.09 4.41 3.90 4.05 4.43 5.57 10.66 6.9% BANK OF COMMUNICATIONS CO-H 0.96 0.85 0.77 0.68 2.41 2.17 1.95 1.72 3.80 5.45 5.77 5.70 5.93 5.92 5.63 5.04 3.55 4.18 4.47 5.08 6.46 4.6% CHINA UNICOM HONG KONG LTD 0.98 0.95 0.90 0.85 0.82 0.83 0.73 0.66 0.61 0.50 3.27 2.51 2.34 2.25 2.01 4.55 3.95 3.56 3.19 2.99 30.10 19.32 14.00 10.97 10.06 1.49 1.94 2.59 3.46 2.82 13.70 23.0% KUNLUN ENERGY CO LTD 2.68 2.39 2.07 1.84 1.59 3.52 2.81 2.22 1.91 1.45 9.14 7.76 6.78 5.82 9.60 7.83 6.58 5.78 6.09 16.96 14.88 12.79 11.24 9.35 1.59 1.90 2.22 2.52 3.36 17.78 17.2% CHINA RESOURCES POWER HOLDIN 2.24 1.95 1.73 1.53 1.41 1.88 1.67 1.49 1.34 1.28 7.83 6.76 5.79 5.03 11.45 8.91 7.97 7.01 5.79 17.02 12.75 11.51 10.23 9.10 1.84 2.46 2.78 3.18 4.02 26.23 3.3% CHINA RESOURCES LAND LTD 1.99 1.75 1.54 1.36 2.95 2.28 1.87 1.59 16.10 10.02 9.69 8.41 12.69 10.48 8.38 7.24 18.25 14.96 11.87 10.37 1.34 1.72 2.11 2.41 23.58 0.3% LENOVO GROUP LTD 4.15 3.49 2.93 2.62 0.34 0.28 0.25 0.23 0.20 8.23 8.70 9.14 6.97 8.17 6.21 5.25 4.61 3.42 19.44 15.23 12.69 11.01 7.61 1.42 2.19 2.74 3.17 8.56 20.7% TINGYI (CAYMAN ISLN) HLDG CO 6.17 5.69 5.03 4.48 1.62 1.42 1.24 1.11 10.47 10.31 8.48 10.09 14.07 13.05 11.05 9.50 34.12 30.37 24.90 21.59 1.66 1.56 1.95 2.24 20.68 -3.6% CHINA CITIC BANK CORP LTD-H 0.81 0.71 0.64 0.56 2.12 1.91 1.70 1.51 2.92 4.96 5.42 5.11 4.84 4.88 4.51 3.92 5.07 4.84 5.27 6.31 5.01 14.7% GREAT WALL MOTOR COMPANY-H 3.77 3.11 2.53 2.09 2.32 1.93 1.64 1.40 1.30 15.43 10.23 9.22 7.20 12.96 10.49 8.77 7.51 7.29 14.36 11.77 10.16 8.48 8.23 1.50 2.17 2.60 3.36 34.33 2.0% ANHUI CONCH CEMENT CO LTD-H 2.39 2.08 1.82 1.61 1.39 2.14 1.80 1.62 1.50 1.42 10.54 9.68 8.95 7.98 9.56 7.35 6.50 6.19 7.16 18.33 13.45 11.75 10.95 11.60 0.99 1.38 1.59 1.75 1.10 30.10 7.1% ENN ENERGY HOLDINGS LTD 4.46 3.70 3.15 2.77 2.70 2.11 1.75 1.43 1.18 1.34 14.23 12.73 10.71 7.52 12.86 11.16 9.63 8.44 7.61 24.48 20.41 17.05 14.40 15.58 1.03 1.22 1.51 1.93 2.61 44.16 -1.7% CHINA COMMUNICATIONS CONST-H 1.14 0.99 0.90 0.77 0.29 0.25 0.23 0.21 9.63 5.86 5.30 4.71 7.71 6.76 6.06 5.38 8.26 7.05 6.27 5.62 2.96 3.41 3.76 4.10 8.85 19.1% COUNTRY GARDEN HOLDINGS CO 1.75 1.48 1.28 1.10 1.61 1.29 1.10 0.98 16.03 15.67 7.39 8.76 7.74 6.34 5.37 4.87 9.66 8.17 6.95 6.26 3.75 4.43 5.01 5.61 4.62 5.0% CHINA RESOURCES ENTERPRISE 1.67 1.48 1.39 1.33 0.50 0.44 0.38 0.33 8.82 6.03 6.76 4.94 8.96 8.42 7.31 6.58 34.19 31.55 25.48 20.80 1.94 1.55 1.84 1.79 25.20 -5.3% DONGFENG MOTOR GRP CO LTD-H 1.48 1.27 1.11 0.94 0.63 0.57 0.52 0.48 0.45 7.84 5.13 5.71 4.11 4.63 4.11 3.82 3.51 9.29 8.13 7.59 6.60 6.20 1.64 1.81 1.94 2.33 13.30 15.0% CHINA MERCHANTS HLDGS INTL 1.35 1.27 1.20 1.12 6.41 6.73 6.45 6.09 8.93 11.69 9.93 8.96 16.18 15.51 14.08 15.70 16.36 14.39 12.79 11.24 2.65 3.08 3.54 3.94 27.60 12.4% BEIJING ENTERPRISES HLDGS 1.65 1.55 1.42 1.31 1.21 1.87 1.60 1.34 1.14 1.16 11.58 7.42 9.43 9.79 15.64 14.02 12.35 11.30 10.19 20.21 17.03 14.10 11.79 1.42 1.66 1.98 2.23 2.52 64.39 10.9% CHINA MENGNIU DAIRY CO 2.41 2.25 2.03 1.83 0.81 0.74 0.65 0.58 12.42 10.44 8.92 6.51 9.65 8.56 7.15 6.06 21.94 19.10 15.72 13.48 1.01 1.17 1.45 1.87 24.66 12.9% HUANENG POWER INTL INC-H 1.76 1.60 1.50 1.35 1.02 0.68 0.65 0.61 0.58 0.46 4.80 4.23 3.89 3.70 7.13 6.18 5.84 5.33 3.39 16.69 10.70 9.71 8.46 7.20 2.98 4.81 5.15 6.08 12.49 9.24 3.0% BRILLIANCE CHINA AUTOMOTIVE 4.04 3.01 2.35 1.82 6.33 6.29 5.92 5.51 3.19 61.36 53.15 38.70 503.13 137.03 348.39 273.17 278.38 15.99 12.47 10.44 8.21 5.24 0.03 0.30 0.45 2.35 10.59 11.5% AAC TECHNOLOGIES HOLDINGS IN 6.16 4.90 3.99 3.34 5.97 4.44 3.74 3.08 21.71 15.19 13.79 12.05 16.67 12.47 10.55 8.78 21.59 16.18 13.57 11.17 1.76 2.41 2.85 3.51 37.77 -0.2% PICC PROPERTY & CASUALTY -H 2.16 1.80 1.52 1.24 0.50 0.47 0.42 0.38 9.45 8.60 7.92 6.87 3.21 2.79 3.03 3.79 12.22 22.7% CHINA NATIONAL BUILDING MA-H 1.26 1.07 0.90 0.80 0.69 0.43 0.35 0.31 0.28 0.32 3.70 3.14 2.19 1.94 10.78 8.12 7.01 6.39 8.85 7.16 5.59 4.69 4.24 4.23 2.01 2.54 3.09 3.15 3.57 11.82 29.1% SUN ART RETAIL GROUP LTD 4.90 4.45 3.99 3.49 1.03 0.90 0.76 0.67 0.52 13.60 12.87 10.25 10.04 14.39 12.34 10.48 9.01 34.45 29.90 25.63 21.80 14.35 1.14 1.21 1.43 1.64 11.13 2.7% CHINA OILFIELD SERVICES-H 1.70 1.49 1.33 1.23 3.04 2.56 2.37 2.18 7.00 6.24 5.80 5.53 9.35 8.38 7.85 7.88 11.99 10.41 9.59 9.30 1.69 2.24 2.43 2.65 16.97 10.9% CHINA COAL ENERGY CO-H 0.72 0.67 0.63 0.59 0.58 0.93 0.90 0.80 0.74 0.63 4.87 4.77 3.78 3.45 6.94 6.54 5.87 5.28 5.82 7.20 7.86 7.27 7.05 10.78 4.17 3.90 4.13 4.36 2.53 7.31 22.4% SHIMAO PROPERTY HOLDINGS LTD 1.35 1.16 1.03 0.93 1.42 1.16 0.97 0.85 5.64 4.87 3.34 2.06 8.07 6.60 5.50 4.99 10.19 7.71 6.50 5.69 2.76 4.01 4.67 5.43 18.68 11.7% KERRY PROPERTIES LTD 0.74 0.69 0.66 0.64 1.54 1.51 1.41 1.36 13.16 15.18 10.08 11.15 11.23 10.98 12.77 10.89 11.15 11.10 10.40 2.63 2.72 2.81 2.95 41.69 18.8% JIANGXI COPPER CO LTD-H 0.96 0.88 0.82 0.76 0.47 0.40 0.39 0.39 9.57 6.83 6.78 6.35 7.98 8.03 7.83 8.54 8.01 8.38 8.37 9.09 3.14 3.31 3.26 3.16 18.24 21.3% SINOPHARM GROUP CO-H 2.13 2.04 1.81 1.56 0.35 0.28 0.23 0.19 0.17 113.03 15.89 11.80 8.77 12.67 10.00 8.28 6.98 5.61 22.95 18.55 15.12 12.69 11.20 1.31 1.59 1.93 2.14 28.19 22.3% Price to Earnings Ratio Valuation Measures II/II Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 5. 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot S&P 500 INDEX 2.23 2.23 2.05 1.87 2.23 1.44 1.44 1.38 1.33 1.44 10.03 10.03 9.39 9.69 10.03 9.01 9.01 8.34 7.81 9.01 14.46 14.46 13.01 11.80 14.46 2.18 2.18 2.34 2.52 2.18 1719.1 7.9% Euro Stoxx 50 Pr 1.18 1.18 1.12 1.05 1.18 0.76 0.76 0.74 0.72 0.76 5.89 5.89 5.46 4.90 5.89 7.21 7.21 6.82 6.47 7.21 11.57 11.57 10.33 9.43 11.57 4.21 4.21 4.52 4.84 4.21 2915.9 7.1% NIKKEI 225 1.57 1.57 1.47 1.41 1.57 0.74 0.74 0.72 0.71 0.74 9.11 9.11 8.48 8.25 9.11 8.93 8.93 8.32 7.94 8.93 20.64 20.64 16.38 14.55 20.64 1.51 1.51 1.72 1.87 1.51 13153.7 -5.1% FTSE 100 INDEX 1.71 1.71 1.59 1.38 1.71 1.07 1.07 1.04 1.01 1.07 8.45 8.45 7.68 6.11 8.45 7.22 7.22 6.78 6.38 7.22 12.08 12.08 10.98 10.07 12.08 3.86 3.86 4.14 4.52 3.86 6931.4 7.5% SWISS MARKET INDEX 2.41 2.41 2.26 2.06 2.41 2.04 2.04 1.94 1.85 2.04 12.46 12.46 11.35 10.03 12.46 13.40 13.40 12.40 11.60 13.40 15.09 15.09 13.54 12.32 15.09 3.24 3.24 3.59 4.10 3.24 8289.2 4.7% S&P/TSX COMPOSITE INDEX 1.65 1.65 1.53 1.43 1.65 1.54 1.54 1.46 1.37 1.54 8.22 8.22 7.42 6.84 8.22 8.22 8.22 7.30 6.86 8.22 14.00 14.00 12.39 11.38 14.00 3.23 3.23 3.39 3.59 3.23 14254.0 15.8% S&P/ASX 200 INDEX 1.97 1.97 1.87 1.77 1.97 1.89 1.89 1.78 1.69 1.89 11.76 11.76 10.47 9.56 11.76 9.77 9.77 8.63 7.97 9.77 15.97 15.97 14.26 13.07 15.97 4.24 4.24 4.53 4.88 4.24 5163.8 -0.5% HANG SENG INDEX 1.35 1.35 1.24 1.14 1.35 1.72 1.72 1.59 1.47 1.72 8.08 8.08 7.58 7.25 8.08 8.39 8.39 7.65 7.05 8.39 10.87 10.87 9.98 9.03 10.87 3.56 3.56 3.85 4.24 3.56 24857.0 9.3% MSCI EM 1.44 1.44 1.31 1.21 1.44 0.00 0.00 0.00 0.00 0.00 6.95 6.95 6.42 6.05 6.95 7.28 7.28 6.64 6.27 7.28 10.70 10.70 9.62 8.97 10.70 3.11 3.11 3.56 3.46 3.11 1190.5 15.9% CHINA RESOURCES GAS GROUP LT 4.09 3.50 3.03 2.74 2.37 2.73 1.95 1.52 1.16 1.09 13.56 16.26 9.43 7.23 15.46 11.77 9.64 8.05 7.19 28.25 22.89 18.25 13.96 13.18 0.67 0.84 1.10 1.50 1.38 20.68 -4.9% TSINGTAO BREWERY CO LTD-H 4.41 3.97 3.49 3.12 2.06 1.82 1.59 1.46 21.32 19.46 15.41 14.71 15.78 13.88 12.05 10.54 31.30 27.18 23.53 19.97 0.62 0.96 1.12 1.35 47.88 -8.0% GUANGDONG INVESTMENT LTD 2.01 1.85 1.72 1.61 6.05 5.66 5.16 4.70 5.05 11.13 11.13 9.27 8.73 9.48 8.92 8.37 8.00 15.05 14.64 13.65 12.82 2.52 2.68 2.89 3.20 7.19 -4.3% SINO-OCEAN LAND HOLDINGS 0.65 0.61 0.57 0.54 0.90 0.72 0.63 0.56 16.14 6.48 3.96 3.89 8.12 7.01 5.91 4.91 10.22 8.84 7.24 5.89 3.49 4.70 5.41 6.37 5.48 7.0% CHINA LONGYUAN POWER GROUP-H 1.47 1.40 1.27 1.16 1.09 2.60 2.36 2.05 1.80 1.64 5.90 4.69 4.33 3.90 11.09 9.52 7.97 6.92 5.91 15.02 14.63 11.82 9.74 9.26 1.22 1.27 1.61 2.07 3.01 7.72 8.5% EVERGRANDE REAL ESTATE GROUP 0.96 0.81 0.69 0.62 0.54 0.48 0.42 0.38 12.53 14.15 5.24 3.06 5.47 5.37 4.51 4.12 4.62 4.75 4.07 3.66 6.47 5.68 6.51 7.23 4.11 29.5% GEELY AUTOMOBILE HOLDINGS LT 2.08 1.70 1.42 1.17 1.05 0.85 0.72 0.62 0.52 10.19 7.96 6.55 5.57 8.01 6.35 5.51 4.67 5.53 13.18 10.36 8.75 7.26 11.47 0.97 1.26 1.52 1.84 4.63 18.7% LONGFOR PROPERTIES 1.90 1.58 1.35 1.16 1.74 1.25 1.12 1.01 228.79 65.16 13.76 7.13 6.68 5.59 4.68 9.84 8.67 7.56 6.58 2.01 2.19 2.68 3.04 15.31 18.1% CHINA GAS HOLDINGS LTD 3.45 3.08 2.67 2.41 2.39 1.78 1.62 1.34 1.20 1.22 19.87 14.63 14.17 10.98 15.74 13.41 11.66 10.24 10.14 37.32 23.98 20.68 17.31 22.17 0.37 0.84 1.12 1.45 0.92 7.74 1.1% COSCO PACIFIC LTD 0.94 0.87 0.81 0.76 5.04 4.59 4.15 3.84 7.79 7.32 6.59 4.73 14.23 13.18 12.43 12.39 10.11 9.46 8.23 7.66 4.00 4.15 4.83 5.13 13.14 27.8% NEW CHINA LIFE INSURANCE C-H 1.99 1.77 1.57 1.41 0.63 0.57 0.51 0.44 22.21 16.20 13.39 11.66 0.95 0.99 1.15 1.26 32.69 13.3% CHINA RAILWAY GROUP LTD-H 0.90 0.81 0.75 0.67 0.13 0.12 0.11 0.10 10.55 4.10 5.70 6.84 9.39 8.33 7.77 7.56 9.79 8.57 7.77 7.38 1.60 1.85 2.06 2.19 4.60 12.5% HAITONG SECURITIES CO LTD-H 1.47 1.38 1.31 1.21 9.91 8.16 6.71 5.98 23.62 19.95 16.94 14.96 17.18 13.43 11.58 10.30 26.32 20.40 16.44 13.32 1.37 1.80 2.23 2.68 14.01 24.0% YANZHOU COAL MINING CO-H 0.69 0.67 0.64 0.60 1.09 1.04 0.95 0.89 3.68 4.99 3.88 3.44 10.62 11.29 9.96 8.72 6.00 9.77 8.62 8.57 5.37 3.30 3.40 3.29 8.74 8.2% CHOW TAI FOOK JEWELLERY GROU 3.43 3.08 2.66 2.27 1.87 1.74 1.46 1.24 0.89 15.63 34.12 28.06 12.65 13.79 11.10 9.10 16.19 18.35 14.79 12.13 2.40 1.39 1.69 2.01 12.28 17.6% CITIC SECURITIES CO LTD-H 1.75 1.70 1.59 1.55 11.77 8.51 6.90 5.60 32.51 24.97 20.87 18.16 18.78 13.23 9.84 10.41 34.87 24.79 19.42 16.07 1.20 1.55 1.98 2.63 19.93 13.2% CITIC PACIFIC LTD 0.41 0.41 0.39 0.38 0.33 0.34 0.29 0.25 6.98 5.49 4.10 13.37 13.47 10.45 7.54 7.35 8.97 6.83 5.40 4.23 4.79 4.87 4.93 10.56 12.5% BYD CO LTD-H 2.43 2.26 2.12 1.63 1.19 1.06 0.97 0.82 15.00 9.26 8.19 7.01 20.09 15.70 13.95 10.80 536.70 51.17 36.25 18.60 0.06 0.05 0.09 0.79 17.61 -36.4% GUANGZHOU AUTOMOBILE GROUP-H 1.07 0.98 0.92 0.84 2.78 2.21 1.94 1.72 1.79 203.37 72.63 31.78 23.22 12.40 9.05 8.52 9.97 1.26 2.26 3.25 3.72 5.93 -7.3% HAIER ELECTRONICS GROUP CO 4.75 3.49 2.74 2.20 0.51 0.45 0.38 0.34 12.91 11.71 9.92 8.95 9.97 8.24 6.91 5.75 15.53 13.20 11.32 9.70 0.64 0.98 1.12 1.70 14.32 3.3% AGILE PROPERTY HOLDINGS LTD 1.09 0.90 0.79 0.71 1.01 0.82 0.73 0.64 11.71 6.11 3.77 5.12 4.74 4.26 3.96 6.57 5.67 5.04 4.60 3.90 4.29 4.79 5.09 11.88 18.4% ZIJIN MINING GROUP CO LTD-H 1.38 1.26 1.19 1.13 1.29 1.22 1.20 1.23 5.98 5.48 6.10 6.86 7.97 7.98 7.64 7.66 7.68 8.09 8.46 9.47 3.79 4.40 4.07 3.63 2.91 27.2% WEICHAI POWER CO LTD-H 1.59 1.48 1.30 1.14 0.94 0.80 0.73 0.67 17.26 9.72 8.24 5.85 9.82 8.41 7.49 6.61 13.09 11.80 10.09 8.48 0.57 1.17 1.26 1.55 26.51 -2.0% AIR CHINA LTD-H 1.29 1.17 1.05 0.93 0.66 0.60 0.54 0.51 4.24 3.18 2.95 2.82 7.87 6.50 5.84 5.46 15.12 10.66 8.81 7.52 1.18 1.58 1.88 1.96 7.16 14.0% KINGBOARD CHEMICAL HOLDINGS 0.60 0.55 0.52 0.49 0.52 0.45 0.41 0.38 4.91 6.33 3.22 3.07 6.69 6.44 5.75 5.32 8.40 7.38 6.41 5.68 2.64 2.96 3.39 3.65 29.03 37.6% GCL-POLY ENERGY HOLDINGS LTD 1.22 1.42 1.31 1.21 1.16 0.98 0.80 0.81 10.90 10.47 4.66 3.35 20.03 14.15 10.15 8.54 16.19 15.39 0.19 0.06 0.57 0.45 1.76 11.8% XINYI GLASS HOLDINGS LTD 2.11 1.84 1.65 1.49 2.07 1.71 1.44 1.30 13.86 9.73 8.21 6.90 11.67 8.69 7.09 6.20 5.95 17.35 11.91 9.64 8.35 2.67 3.99 4.86 5.59 6.58 23.9% SHANGHAI INDUSTRIAL HLDG LTD 0.81 0.77 0.72 0.70 1.52 1.33 1.12 0.96 13.74 7.40 8.53 10.17 9.16 7.82 6.16 12.11 10.34 8.75 8.52 4.44 4.38 4.51 4.39 28.44 15.6% SHANDONG WEIGAO GP MEDICAL-H 3.03 2.73 2.45 2.18 6.83 5.83 4.80 4.08 3.69 23.86 20.62 15.14 12.08 22.78 19.02 15.42 12.75 24.56 21.76 17.88 15.41 14.43 1.01 1.18 1.47 1.66 7.60 2.0% SOHO CHINA LTD 1.11 0.85 0.77 0.71 1.66 1.81 2.79 4.35 17.51 11.67 10.44 12.73 4.20 4.51 7.09 12.06 7.63 8.16 11.96 21.72 4.66 4.66 4.64 4.40 6.48 -3.2% ALUMINUM CORP OF CHINA LTD-H 0.67 0.79 0.84 0.90 0.33 0.31 0.29 0.29 9.86 10.39 5.92 4.19 46.96 34.21 21.40 18.42 0.00 0.00 0.00 0.00 2.67 -8.9% CHINA TAIPING INSURANCE HOLD 1.64 1.44 1.26 1.16 0.37 0.31 0.26 0.22 20.43 14.12 10.86 8.97 0.10 0.17 0.45 0.56 16.65 26.0% NINE DRAGONS PAPER HOLDINGS 1.13 1.09 1.01 0.92 0.90 0.80 0.71 0.65 0.62 9.81 5.43 5.97 4.84 11.82 10.10 8.54 7.66 14.93 15.32 10.96 9.05 1.57 1.50 2.11 2.54 7.69 14.2% CHINA EVERBRIGHT LTD 0.76 0.71 0.68 0.63 11.18 9.36 8.35 7.32 14.02 13.87 11.43 10.20 14.25 11.32 9.72 8.21 2.45 2.82 3.19 3.71 15.73 27.5% ZOOMLION HEAVY INDUSTRY - H 1.13 1.01 0.89 0.80 1.10 1.10 0.99 0.95 9.99 9.28 7.73 5.85 5.72 6.44 5.67 5.68 5.54 6.36 5.63 5.73 4.26 3.73 3.82 3.86 9.50 22.3% FRANSHION PROPERTIES 0.89 0.79 0.74 0.64 1.58 1.17 0.93 0.85 29.78 34.42 7.37 6.22 5.29 4.24 10.00 8.10 6.39 5.76 2.15 2.87 3.62 4.45 3.35 26.6% SHOUGANG FUSHAN RESOURCES GR 0.81 0.80 0.76 0.74 2.68 2.87 2.69 2.75 5.71 5.61 6.62 6.93 4.48 4.80 4.66 4.55 9.13 10.17 10.13 10.38 4.39 3.99 4.13 4.09 3.35 10.5% INTIME DEPARTMENT STORE 2.03 1.88 1.71 1.55 1.37 3.95 3.11 2.48 2.04 1.66 11.73 7.82 6.46 5.77 4.72 14.03 11.80 9.99 8.47 8.34 16.92 14.27 12.62 10.75 10.29 2.46 2.80 3.13 3.63 2.87 10.85 18.0% UNI-PRESIDENT CHINA HOLDINGS 3.17 2.79 2.46 2.28 1.15 0.92 0.77 0.65 11.21 10.14 9.22 8.17 14.54 11.73 9.58 8.22 26.82 21.70 19.16 16.12 1.07 1.12 1.30 1.33 8.95 6.0% GOLDEN EAGLE RETAIL GROUP 3.90 3.47 2.94 2.53 1.92 5.54 4.91 4.16 3.56 2.68 13.51 11.45 9.54 7.88 5.05 10.65 9.39 7.93 6.93 5.18 16.96 15.39 13.43 11.71 8.41 1.71 1.87 2.16 2.50 3.59 15.69 14.9% CHINA AGRI-INDUSTRIES HLDGS 0.67 0.69 0.64 0.62 0.20 0.18 0.16 0.15 6.57 7.57 7.02 5.15 11.80 9.68 8.33 8.53 12.06 10.35 8.34 8.02 1.73 2.31 2.91 3.07 5.44 42.7% CHINA RESOURCES CEMENT 1.42 1.23 1.10 0.98 1.01 1.14 1.02 0.90 0.82 0.84 10.59 6.70 6.04 4.84 10.01 8.06 7.04 6.41 6.87 14.90 10.64 9.05 7.98 10.64 0.92 1.50 1.77 2.08 1.34 5.01 12.2% CHINA COSCO HOLDINGS-H 0.98 1.10 1.07 1.04 0.37 0.37 0.35 0.34 8.69 4.69 3.38 34.57 15.05 11.22 38.89 12.01 0.00 0.12 0.23 1.65 3.13 -4.5% CHINA SHANSHUI CEMENT GROUP 1.14 1.00 0.88 0.79 0.61 0.54 0.49 0.46 3.95 3.53 2.97 2.82 5.85 5.00 4.50 4.16 6.26 5.35 4.91 4.66 4.47 5.48 6.34 6.85 5.79 31.9% GOME ELECTRICAL APPLIANCES 0.70 0.71 0.69 0.67 0.21 0.19 0.17 0.15 10.87 7.75 5.63 25.04 13.19 10.98 26.94 13.77 11.47 0.16 0.81 1.78 1.94 0.91 16.2% ZHONGSHENG GROUP HOLDINGS 2.05 1.82 1.54 1.33 0.32 0.27 0.23 0.20 73.19 6.28 4.96 5.52 11.72 8.88 7.21 6.10 18.46 12.06 8.56 7.58 0.93 1.53 2.03 2.51 10.90 1.1% HUABAO INTERNATIONAL HOLDING 1.79 1.45 1.24 1.06 3.21 2.90 2.54 2.24 6.98 7.42 8.09 5.16 4.56 4.40 3.95 3.58 6.62 6.50 5.89 5.33 6.32 5.11 4.55 4.94 5.31 49.2% ANTA SPORTS PRODUCTS LTD 1.89 1.84 1.76 1.63 1.43 1.65 2.02 1.96 1.79 1.35 9.35 11.08 11.20 9.65 8.07 4.84 6.54 6.30 5.64 3.71 9.35 12.81 12.59 11.37 7.59 6.91 5.60 5.17 5.64 7.94 5.89 -9.4% CHINA YURUN FOOD GROUP LTD 0.52 0.53 0.52 0.51 0.29 0.27 0.21 0.19 0.15 10.74 5.57 5.25 42.43 15.37 8.37 5.78 9.01 8.49 0.41 0.63 1.52 2.58 4.76 3.1% PARKSON RETAIL GROUP LTD 1.64 1.52 1.39 1.23 1.08 1.84 1.74 1.58 1.42 1.12 7.28 7.01 6.30 5.59 4.07 4.91 4.75 4.29 3.72 2.77 10.14 10.36 9.45 8.12 6.42 4.35 4.17 4.50 4.95 7.19 4.76 13.4% Price to Earnings Ratio Valuation Measures II/II Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 6. 01.05.2013 China Construction Bank Corporation provides a complete range of banking services and other financial services to individual and corporate customers. The bank's services include retail banking, international settlement, project finance, and credit card services. Latest Fiscal Year: 12/2012 LTM as of: 03/yy 52-Week High (28.01.2013) 6.75 52-Week Low (12.07.2012) 4.71 Daily Volume 6.5 52-Week High % Change -3.70% Dividend Yield - 52-Week Low % Change 38.00% Beta 1.12 % 52 Week Price Range High/Low 87.75% Equity Float 69'156.38 Shares Out 31.03.2013 240'417.3 Short Int - 1'618'869.00 1 Yr Total Return 13.65% Total Debt 1'143'635.00 YTD Return 4.50% Preferred Stock 0.0 Adjusted BETA 1.116 Minority Interest 7'877.0 Analyst Recs 37 Cash and Equivalents 3'490'305.00 Consensus Rating 4.703 Enterprise Value - Average Volume 5 Day ######### 939 HK EQUITY YTD Change - Average Volume 30 Day ######### 939 HK EQUITY YTD % CHANGE - Average Volume 3 Month ######### LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3 388'058.0 396'529.0 449'841.0 575'537.0 713'496.0 615'870 540'635 504'345 559'351 - - - - - - - 0.00x 0.00x - - - - - - - - - 0.0 0.0 - - - - - - - - - 0.00x 0.00x - - - - 92'599.0 106'756.0 134'844.0 169'258.0 193'179.0 173'585.0 201'247.0 208'007.9 225'782.1 59'570.0 58'822.0 9.36x 12.77x 10.55x 6.47x 6.50x 7.01x 6.27x 6.24x 5.81x - - EBITDA - Long-Term Rating Date 29.11.2011 EBIT - Long-Term Rating A Operating Margin 54.37% Long-Term Outlook STABLE Pretax Margin 54.25% Short-Term Rating Date 29.11.2011 Return on Assets 1.47% Short-Term Rating A-1 Return on Common Equity 22.04% Return on Capital - EBITDA/Interest Exp. - Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. - Net Debt/EBITDA - Gross Margin - Total Debt/EBITDA - EBITDA Margin - EBIT Margin - Total Debt/Equity 121.4% Net Income Margin 41.7% Total Debt/Capital - Asset Turnover 0.05 Current Ratio - Net Fixed Asset Turnover 6.36 Quick Ratio - Accounts receivable turnover-days - Debt to Assets 8.18% Inventory Days - Tot Debt to Common Equity 121.44% Accounts Payable Turnover Day - Accounts Receivable Turnover - Cash Conversion Cycle - Inventory Turnover - Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Fiscal Year Ended China Construction Bank Corp Price/Volume Valuation Analysis 251'808'033.00 Current Price (5/dd/yy) Market Data 0 1 2 3 4 5 6 7 8 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 .0 M 500.0 M 1000.0 M 1500.0 M 2000.0 M 2500.0 M 0.0 100'000.0 200'000.0 300'000.0 400'000.0 500'000.0 600'000.0 700'000.0 800'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 10.00 01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 7. 01.05.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type CHINA INVESTMENT COR n/a ULT-AGG 142'590'494'651 59.31 - 14.11.2011 Investment Advisor TEMASEK HOLDINGS PRI n/a ULT-AGG 17'878'670'050 7.44 - 04.05.2012 Government BANK OF AMERICA CORP n/a EXCH 5'942'736'979 2.47 - 17.11.2011 Investment Advisor BAOSTEEL GROUP CORP n/a Co File 3'210'000'000 1.34 - 31.12.2010 Government CHINA INVESTMENT COR n/a ULT-AGG 2'760'000'000 1.15 - 14.11.2011 Government BLACKROCK n/a ULT-AGG 2'548'089'428 1.06 3'851'540 29.04.2013 Investment Advisor VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'991'111'597 0.83 (24'785'185) 31.03.2013 Investment Advisor STATE GRID INTERNATI n/a Co File 1'315'282'730 0.55 - 31.12.2010 Corporation STATE STREET n/a ULT-AGG 1'074'985'497 0.45 70'918'800 30.04.2013 Investment Advisor CHINA YANGTZE POWER n/a Co File 1'070'000'000 0.45 - 31.12.2010 Government CAPITAL GROUP COMPAN n/a ULT-AGG 921'243'233 0.38 23'700'000 31.03.2013 Investment Advisor RECA INVESTMENT LTD n/a Co File 856'000'000 0.36 - 31.12.2010 Private Equity YINGDA INTL HOLDINGS n/a Co File 856'000'000 0.36 - 31.12.2010 Holding Company LAZARD ASSET MANAGEM n/a ULT-AGG 782'570'662 0.33 (7'882'000) 31.03.2013 Unclassified HANG SENG INVESTMENT Multiple Portfolios MF-AGG 745'923'963 0.31 - 30.06.2012 Investment Advisor FMR LLC n/a ULT-AGG 703'140'350 0.29 (194'897'331) 31.03.2013 Investment Advisor BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 635'309'327 0.26 1'114'688 29.04.2013 Investment Advisor SCHRODER INVESTMENT Multiple Portfolios MF-AGG 539'376'610 0.22 68'432'000 31.03.2013 Investment Advisor SHANDONG LUNENG GROU n/a Co File 374'500'000 0.16 - 31.12.2010 Corporation DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 359'744'032 0.15 - 31.07.2012 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date Deutsche Bank TRACY YU buy 5 M 7 12 month 30.04.2013 Sanford C. Bernstein & Co MICHAEL WERNER outperform 5 M 8 12 month 30.04.2013 DBS Vickers ALEXANDER LEE buy 5 M 8 12 month 30.04.2013 Jefferies TAN MING buy 5 M 8 12 month 29.04.2013 Yuanta Securities Investment ConsultingNICE WANG hold 3 M 7 Not Provided 29.04.2013 Mizuho Securities JIM ANTOS neutral 3 M 7 12 month 29.04.2013 BOCOM International Holdings LI SHANSHAN neutral 3 M 7 Not Provided 29.04.2013 AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 7 Not Provided 29.04.2013 JPMorgan KATHERINE LEI overweight 5 M 8 12 month 28.04.2013 CIMB TREVOR KALCIC outperform 5 M 8 12 month 27.04.2013 Religare Capital Markets SOPHIE JIANG hold 3 M 6 12 month 27.04.2013 Credit Suisse SANJAY JAIN outperform 5 M 8 Not Provided 26.04.2013 Nomura LUCY FENG buy 5 M 8 Not Provided 26.04.2013 Macquarie VICTOR WANG outperform 5 M 7 12 month 19.04.2013 ABC International JOHANNES AU buy 5 M 7 12 month 12.04.2013 EVA Dimensions AUSTIN BURKETT buy 5 U #N/A N/A Not Provided 11.04.2013 HSBC TODD DUNIVANT overweight 5 M 8 Not Provided 07.04.2013 Masterlink Securities RAINY YUAN buy 5 U 7 6 month 28.03.2013 Guotai Junan WILSON LI accumulate 4 M 7 Not Provided 26.03.2013 Morgan Stanley RICHARD XU Overwt/In-Line 5 M 8 12 month 25.03.2013 Bank of China International YUAN LIN buy 5 M 7 Not Provided 25.03.2013 China International Capital Corp MAO JUNHUA buy 5 M 8 12 month 25.03.2013 UOB Kay Hian EDMOND LAW hold 3 M 7 Not Provided 25.03.2013 Mirae Asset Securities NAN LI buy 5 M 7 12 month 25.03.2013 Barclays MAY YAN overweight 5 U 7 Not Provided 27.02.2013 Goldman Sachs NING MA Buy/Neutral 5 M 8 12 month 25.02.2013 Core Pacific TIMOTHY LI buy 5 M 8 Not Provided 05.02.2013 Daiwa Securities Co. Ltd. GRACE WU outperform 5 M 7 Not Provided 22.01.2013 SWS Research Co Ltd ROBERT HU outperform 5 M 7 Not Provided 09.01.2013 Standard Chartered JOHN CAPARUSSO outperform 5 M 7 12 month 06.12.2012 BNP Paribas Equity Research DORRIS CHEN buy 5 M 7 12 month 07.11.2012 Capital Securities Corp TEAM COVERAGE buy 5 M #N/A N/A Not Provided 29.10.2012 Citic Securities Co., Ltd FEIFEI XIAO overweight 5 M #N/A N/A Not Provided 28.08.2012 Phillip Securities CHEN XINGYU accumulate 4 D 7 Not Provided 28.03.2012 Hua Tai Securities Co., Ltd LIU XIAOCHANG buy 5 M #N/A N/A Not Provided 26.03.2012 ICBC International Securities IVAN LIN buy 5 M 9 Not Provided 01.11.2010 Tebon Securities Co Ltd XU MINGQIANG outperform 5 N #N/A N/A Not Provided 02.01.2009 Holdings By: China Construction Bank Corp All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 8. 01.05.2013 China Mobile Limited, through its subsidiaries, provides cellular telecommunications and related services in the People's Republic of China and Hong Kong SAR. Latest Fiscal Year: 12/2012 LTM as of: 03/yy 52-Week High (14.08.2012) 92.60 52-Week Low (04.06.2012) 76.50 Daily Volume 84.95 52-Week High % Change -8.26% Dividend Yield 4.11 52-Week Low % Change 11.05% Beta 0.61 % 52 Week Price Range High/Low 52.48% Equity Float 5'209.58 Shares Out 31.03.2013 20'100.6 Short Int - 1'707'547.25 1 Yr Total Return 2.96% Total Debt 29'846.00 YTD Return -5.87% Preferred Stock 0.0 Adjusted BETA 0.608 Minority Interest 1'862.0 Analyst Recs 36 Cash and Equivalents 402'903.00 Consensus Rating 3.333 Enterprise Value 985'275.95 Average Volume 5 Day 13'193'680 941 HK EQUITY YTD Change - Average Volume 30 Day 15'135'070 941 HK EQUITY YTD % CHANGE - Average Volume 3 Month 15'710'970 LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3 411'810.0 452'103.0 485'231.0 527'999.0 560'413.0 537'272.0 567'668.0 591'821.9 621'800.8 - - 2.90x 2.34x 2.18x 1.77x 1.94x 0.00x 0.00x 1.71x 1.62x - - 219'788.0 233'788.0 241'758.0 257'202.0 256'783.0 0.0 0.0 256'723.8 261'339.5 - - 5.43x 4.52x 4.37x 3.63x 4.24x 0.00x 0.00x 3.84x 3.77x - - 112'627.0 115'166.0 119'640.0 125'870.0 129'274.0 126'806.0 129'354.0 126'694.5 122'443.3 - - 12.19x 11.18x 10.98x 9.82x 11.29x 0.00x 0.00x 10.74x 11.12x - - EBITDA 256'783.00 Long-Term Rating Date 16.12.2010 EBIT 155'521.00 Long-Term Rating AA- Operating Margin 27.75% Long-Term Outlook STABLE Pretax Margin 30.57% Short-Term Rating Date - Return on Assets 12.90% Short-Term Rating - Return on Common Equity 18.84% Return on Capital 18.06% EBITDA/Interest Exp. 658.42 Asset Turnover 0.56% (EBITDA-Capex)/Interest Exp. 337.84 Net Debt/EBITDA -1.45 Gross Margin - Total Debt/EBITDA 0.12 EBITDA Margin 45.8% EBIT Margin 27.8% Total Debt/Equity 4.1% Net Income Margin 23.1% Total Debt/Capital 4.0% Asset Turnover 0.56 Current Ratio 1.50 Net Fixed Asset Turnover 1.15 Quick Ratio 1.39 Accounts receivable turnover-days 6.82 Debt to Assets 2.84% Inventory Days - Tot Debt to Common Equity 4.13% Accounts Payable Turnover Day - Accounts Receivable Turnover 53.66 Cash Conversion Cycle - Inventory Turnover - Fiscal Year Ended China Mobile Ltd Price/Volume Valuation Analysis 15'563'362.00 Current Price (5/dd/yy) Market Data Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure 0 10 20 30 40 50 60 70 80 90 100 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 .0 M 10.0 M 20.0 M 30.0 M 40.0 M 50.0 M 60.0 M 70.0 M 0.0 100'000.0 200'000.0 300'000.0 400'000.0 500'000.0 600'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.00 0.20 0.40 0.60 0.80 1.00 1.20 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 9. 01.05.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type CHINA MOBILE HK BVI n/a Co File 14'890'116'842 74.08 - 31.12.2012 Corporation ABERDEEN n/a ULT-AGG 234'353'256 1.17 5'556'000 31.03.2013 Unclassified BLACKROCK n/a ULT-AGG 196'402'752 0.98 239'000 29.04.2013 Investment Advisor VANGUARD GROUP INC Multiple Portfolios MF-AGG 170'106'656 0.85 (450'567) 31.03.2013 Investment Advisor STATE STREET n/a ULT-AGG 76'143'989 0.38 (2'773'371) 30.04.2013 Investment Advisor HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 53'719'500 0.27 - 31.12.2012 Investment Advisor FRANKLIN RESOURCES n/a ULT-AGG 49'564'408 0.25 4'171'000 28.03.2013 Investment Advisor BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 43'343'135 0.22 406'635 29.04.2013 Investment Advisor GRANTHAM MAYO VAN OT Multiple Portfolios MF-AGG 35'979'737 0.18 - 31.05.2012 Investment Advisor SCHRODER INVESTMENT Multiple Portfolios MF-AGG 34'311'500 0.17 (14'679'000) 31.03.2013 Investment Advisor FMR LLC n/a ULT-AGG 32'462'235 0.16 (9'031'747) 31.03.2013 Investment Advisor HANG SENG INVESTMENT Multiple Portfolios MF-AGG 29'042'693 0.14 - 30.06.2012 Investment Advisor WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 28'431'255 0.14 1'697'000 31.12.2012 Investment Advisor INVESCO LTD n/a ULT-AGG 28'402'066 0.14 2'571'466 30.04.2013 Investment Advisor JP MORGAN n/a ULT-AGG 19'549'707 0.1 (109'000) 31.03.2013 Investment Advisor BARING ASSET MANAGEM Multiple Portfolios MF-AGG 17'876'500 0.09 6'452'500 31.12.2012 Investment Advisor PICTET ASSET MANAGEM Multiple Portfolios MF-AGG 17'393'276 0.09 (763'471) 31.01.2013 Investment Advisor ALLIANZ ASSET MANAGE n/a ULT-AGG 16'389'300 0.08 (1'234'600) 31.03.2013 Investment Advisor ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 15'537'281 0.08 (673'001) 28.02.2013 Investment Advisor ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 15'005'931 0.07 319'000 31.12.2012 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date Deutsche Bank ALAN HELLAWELL hold 3 M 79 12 month 30.04.2013 SWS Research Co Ltd JIM TANG underperform 1 M 75 Not Provided 25.04.2013 Haitong International Securities ALEX LEE hold 3 M 90 12 month 23.04.2013 DBS Vickers TAM TSZ-WANG hold 3 M 83 12 month 23.04.2013 CIMB BERTRAM LAI neutral 3 M 76 12 month 23.04.2013 Maybank Kim Eng ANDY POON sell 1 M 74 12 month 23.04.2013 Core Pacific KEVIN TAM neutral 3 M #N/A N/A Not Provided 23.04.2013 BOCOM International Holdings LI ZHIWU long-term buy 5 M 92 Not Provided 23.04.2013 Standard Chartered STEVEN LIU outperform 5 M 93 12 month 22.04.2013 Morgan Stanley NAVIN KILLA Equalwt/In-Line 3 M 85 12 month 22.04.2013 Credit Suisse COLIN MCCALLUM outperform 5 M 102 Not Provided 22.04.2013 JPMorgan LUCY LIU underweight 1 M 78 6 month 22.04.2013 Jefferies CYNTHIA JINHONG MENG hold 3 M 90 12 month 22.04.2013 Yuanta Securities Investment ConsultingNICE WANG hold 3 M 91 Not Provided 22.04.2013 BNP Paribas Equity Research ALEN LIN buy 5 M 105 12 month 22.04.2013 Nomura JIN YOON neutral 3 M 86 Not Provided 22.04.2013 New Street Research ALASTAIR JONES buy 5 M 100 Not Provided 22.04.2013 Barclays ANAND RAMACHANDRAN overweight 5 M 100 Not Provided 22.04.2013 Macquarie LISA SOH underperform 1 M 72 12 month 08.04.2013 Pacific Crest Securities STEVE CLEMENT suspended coverage #N/A N/A M #N/A N/A Not Provided 03.04.2013 HSBC TUCKER GRINNAN overweight 5 M 101 Not Provided 02.04.2013 Masterlink Securities LV HAN hold 3 M 90 6 month 27.03.2013 Guotai Junan RICKY LAI accumulate 4 M 89 Not Provided 22.03.2013 Ji Asia NEIL JUGGINS sell 1 D 68 12 month 18.03.2013 Capital Securities Corp TEAM COVERAGE hold 3 M 70 Not Provided 15.03.2013 Bank of China International MICHAEL MENG sell 1 M 75 Not Provided 15.03.2013 China International Capital Corp CHEN HAOFEI reduce 2 M 75 12 month 15.03.2013 Citic Securities Co., Ltd CHEN JIAN sell 1 N 77 6 month 15.03.2013 UOB Kay Hian VICTOR YIP buy 5 M 93 Not Provided 15.03.2013 ICBC International Securities KARY SEI hold 3 M 87 Not Provided 15.03.2013 EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013 GuoSen Securities Co Ltd MICHAEL NG buy 5 N #N/A N/A Not Provided 10.12.2012 Goldman Sachs DONALD LU Buy/Neutral 5 M 105 12 month 09.12.2012 AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 89 Not Provided 03.10.2012 Holdings By: China Mobile Ltd All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 10. 01.05.2013 Industrial and Commercial Bank of China Ltd provides a broad range of personal and corporate commercial banking services all over China. The Bank's businesses include deposit, loan, credit card, fund underwriting and trust, and foreign currency settlement and trading. Latest Fiscal Year: 12/2012 LTM as of: 03/yy 52-Week High (23.01.2013) 6.00 52-Week Low (12.07.2012) 3.97 Daily Volume 5.46 52-Week High % Change -9.00% Dividend Yield - 52-Week Low % Change 37.53% Beta 1.33 % 52 Week Price Range High/Low 73.40% Equity Float 71'813.62 Shares Out 19.04.2013 86'794.0 Short Int - 1'813'951.50 1 Yr Total Return 11.24% Total Debt 2'045'444.00 YTD Return -0.73% Preferred Stock 0.0 Adjusted BETA 1.331 Minority Interest 3'462.0 Analyst Recs 37 Cash and Equivalents 4'355'972.00 Consensus Rating 4.622 Enterprise Value - Average Volume 5 Day ######### 1398 HK EQUITY YTD Change - Average Volume 30 Day ######### 1398 HK EQUITY YTD % CHANGE - Average Volume 3 Month ######### LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3 469'928.0 470'638.0 544'045.0 704'382.0 850'373.0 753'881.0 859'058.0 583'027.4 645'703.4 - - - - - - - 0.00x 0.00x - - - - - - - - - 0.0 0.0 - - - - - - - - - 0.00x 0.00x - - - - 110'841.0 128'645.0 165'156.0 208'265.0 238'532.0 215'813.0 245'940.0 252'115.9 271'878.1 - - 10.73x 13.95x 8.83x 7.07x 6.10x 6.98x 5.72x 6.04x 5.60x - - EBITDA - Long-Term Rating Date 09.12.2010 EBIT - Long-Term Rating A Operating Margin 56.45% Long-Term Outlook STABLE Pretax Margin 56.46% Short-Term Rating Date 09.12.2010 Return on Assets 1.41% Short-Term Rating A-1 Return on Common Equity 22.20% Return on Capital - EBITDA/Interest Exp. - Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. - Net Debt/EBITDA - Gross Margin - Total Debt/EBITDA - EBITDA Margin - EBIT Margin - Total Debt/Equity 181.8% Net Income Margin 43.6% Total Debt/Capital - Asset Turnover 0.05 Current Ratio - Net Fixed Asset Turnover 6.77 Quick Ratio - Accounts receivable turnover-days - Debt to Assets 11.66% Inventory Days - Tot Debt to Common Equity 181.82% Accounts Payable Turnover Day - Accounts Receivable Turnover - Cash Conversion Cycle - Inventory Turnover - Fiscal Year Ended Industrial & Commercial Bank of China Ltd Price/Volume Valuation Analysis 263'219'558.00 Current Price (5/dd/yy) Market Data Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure 0 1 2 3 4 5 6 7 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 .0 M 500.0 M 1000.0 M 1500.0 M 2000.0 M 2500.0 M 0.0 100'000.0 200'000.0 300'000.0 400'000.0 500'000.0 600'000.0 700'000.0 800'000.0 900'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.00 50.00 100.00 150.00 200.00 250.00 300.00 350.00 01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 11. 01.05.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type SOCIAL SECURITY FUND n/a EXCH 10'405'376'524 11.99 - 13.12.2012 Government BLACKROCK n/a ULT-AGG 6'928'335'051 7.98 (36'157'445) 29.04.2013 Investment Advisor JP MORGAN n/a ULT-AGG 5'941'259'181 6.85 (595'000) 31.12.2012 Investment Advisor CAPITAL GROUP COMPAN n/a ULT-AGG 5'386'435'920 6.21 (162'044'750) 31.03.2013 Investment Advisor TEMASEK HOLDINGS PRI n/a ULT-AGG 4'575'047'470 5.27 - 30.05.2012 Government GOLDMAN SACHS GROUP n/a Research 2'977'315'246 3.43 (1'350'000'000) 28.01.2013 Investment Advisor VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'853'341'186 2.14 (21'524'000) 31.03.2013 Investment Advisor NOMURA n/a ULT-AGG (1'397'779'606) -1.61 43'000 29.01.2013 Unclassified FMR LLC n/a ULT-AGG 1'066'765'789 1.23 (212'553'193) 31.03.2013 Investment Advisor STATE STREET n/a ULT-AGG 874'068'348 1.01 (28'115'185) 30.04.2013 Investment Advisor THORNBURG INVESTMENT Multiple Portfolios MF-AGG 798'834'688 0.92 57'800'616 28.02.2013 Investment Advisor HANG SENG INVESTMENT Multiple Portfolios MF-AGG 693'459'282 0.8 - 30.06.2012 Investment Advisor SCHRODER INVESTMENT Multiple Portfolios MF-AGG 532'867'930 0.61 (42'371'000) 31.03.2013 Investment Advisor INVESCO LTD n/a ULT-AGG 418'663'901 0.48 (29'532'504) 30.04.2013 Investment Advisor BARING ASSET MANAGEM Multiple Portfolios MF-AGG 403'715'655 0.47 36'944'000 31.12.2012 Investment Advisor SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 309'841'776 0.36 41'383'000 31.12.2012 Investment Advisor PICTET & CIE Multiple Portfolios MF-AGG 297'404'935 0.34 (3'227'000) 31.01.2013 Investment Advisor ALLIANZ ASSET MANAGE n/a ULT-AGG 279'904'280 0.32 1'745'000 31.03.2013 Investment Advisor BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 271'966'732 0.31 440'176 29.04.2013 Investment Advisor PRUDENTIAL FINANCIAL n/a ULT-AGG 270'488'219 0.31 24'006'670 31.03.2013 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date Deutsche Bank TRACY YU buy 5 M 7 12 month 30.04.2013 Sanford C. Bernstein & Co MICHAEL WERNER outperform 5 M 7 12 month 30.04.2013 Macquarie VICTOR WANG outperform 5 M 8 12 month 30.04.2013 Bank of China International YUAN LIN hold 3 M 6 Not Provided 30.04.2013 DBS Vickers ALEXANDER LEE buy 5 M 7 12 month 30.04.2013 Credit Suisse SANJAY JAIN outperform 5 M 6 Not Provided 29.04.2013 Jefferies TAN MING buy 5 M 7 12 month 29.04.2013 Yuanta Securities Investment ConsultingNICE WANG buy 5 M 6 Not Provided 29.04.2013 Mizuho Securities JIM ANTOS buy 5 M 7 12 month 29.04.2013 Core Pacific TIMOTHY LI buy 5 M 7 Not Provided 29.04.2013 CCB International Securities Ltd SHENG NAN outperform 5 M 7 Not Provided 29.04.2013 BOCOM International Holdings LI SHANSHAN neutral 3 M 6 Not Provided 29.04.2013 JPMorgan KATHERINE LEI overweight 5 M 7 12 month 28.04.2013 Nomura LUCY FENG buy 5 M 7 Not Provided 28.04.2013 CIMB TREVOR KALCIC outperform 5 M 6 12 month 27.04.2013 Religare Capital Markets SOPHIE JIANG buy 5 M 7 12 month 27.04.2013 ABC International JOHANNES AU buy 5 M 9 12 month 12.04.2013 HSBC TODD DUNIVANT overweight 5 M 7 Not Provided 07.04.2013 Morgan Stanley RICHARD XU restricted #N/A N/A M #N/A N/A Not Provided 02.04.2013 Capital Securities Corp TEAM COVERAGE buy 5 M 6 Not Provided 28.03.2013 China International Capital Corp MAO JUNHUA buy 5 M 6 12 month 28.03.2013 UOB Kay Hian EDMOND LAW buy 5 M 7 Not Provided 28.03.2013 AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 6 Not Provided 28.03.2013 Barclays MAY YAN overweight 5 M 6 Not Provided 27.02.2013 Standard Chartered JOHN CAPARUSSO outperform 5 M 6 12 month 26.02.2013 Goldman Sachs NING MA Buy/Neutral 5 M 7 12 month 25.02.2013 Daiwa Securities Co. Ltd. GRACE WU buy 5 M 7 Not Provided 22.01.2013 EVA Dimensions AUSTIN BURKETT buy 5 M #N/A N/A Not Provided 17.01.2013 Mirae Asset Securities NAN LI buy 5 M 6 12 month 20.11.2012 BNP Paribas Equity Research DORRIS CHEN buy 5 M 6 12 month 07.11.2012 SWS Research Co Ltd ROBERT HU neutral 3 M 6 Not Provided 29.10.2012 Masterlink Securities RAINY YUAN hold 3 M 6 6 month 06.07.2012 Citic Securities Co., Ltd ZHU YAN overweight 5 M #N/A N/A Not Provided 29.06.2012 Guotai Junan WILSON LI buy 5 U 6 Not Provided 11.05.2012 Phillip Securities CHEN XINGYU buy 5 M 6 12 month 09.10.2011 ICBC International Securities IVAN LIN buy 5 M 7 Not Provided 23.04.2010 Holdings By: Industrial & Commercial Bank of China Ltd All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 12. 01.05.2013 Tencent Holdings Limited provides Internet, mobile, and telecommunication value-added services in China. The Company has an instant messaging community in China. Tencent also provides online advertising services. Latest Fiscal Year: 12/2012 LTM as of: 12/yy 52-Week High (11.03.2013) 286.00 52-Week Low (23.05.2012) 203.60 Daily Volume 266.2 52-Week High % Change -6.92% Dividend Yield - 52-Week Low % Change 30.75% Beta 1.09 % 52 Week Price Range High/Low 75.97% Equity Float 962.81 Shares Out 10.04.2013 1'853.6 Short Int - 493'425.38 1 Yr Total Return 9.55% Total Debt 10'699.52 YTD Return 6.91% Preferred Stock 0.0 Adjusted BETA 1.085 Minority Interest 850.8 Analyst Recs 35 Cash and Equivalents 27'189.07 Consensus Rating 4.229 Enterprise Value 376'337.01 Average Volume 5 Day 3'671'843 700 HK EQUITY YTD Change - Average Volume 30 Day 6'119'982 700 HK EQUITY YTD % CHANGE - Average Volume 3 Month 4'886'696 LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2 7'154.5 12'440.0 19'646.0 28'496.1 43'893.7 28'496.1 43'893.7 58'017.7 72'127.2 12'901.4 13'981.1 10.35x 20.68x 12.43x 7.61x 8.10x 36.37x 31.08x 6.33x 4.88x - - 3'539.9 6'415.5 10'382.4 13'357.0 17'569.2 13'357.0 17'398.8 21'930.5 27'134.1 5'269.5 5'452.8 20.91x 40.10x 23.52x 16.23x 20.24x 16.23x 20.44x 17.16x 13.87x 17.12x 16.32x 2'784.6 5'155.6 8'053.6 10'203.1 12'731.9 10'203.1 12'731.9 16'293.3 20'057.0 3'991.2 4'127.3 28.37x 51.84x 32.31x 22.57x 28.76x 22.57x 28.76x 23.75x 19.29x 23.17x 21.90x EBITDA 17'569.23 Long-Term Rating Date 14.11.2011 EBIT 14'948.99 Long-Term Rating BBB+ Operating Margin 34.06% Long-Term Outlook STABLE Pretax Margin 34.29% Short-Term Rating Date - Return on Assets 19.28% Short-Term Rating - Return on Common Equity 36.50% Return on Capital 27.89% EBITDA/Interest Exp. 53.80 Asset Turnover 0.66% (EBITDA-Capex)/Interest Exp. 41.64 Net Debt/EBITDA -0.95 Gross Margin 58.5% Total Debt/EBITDA 0.61 EBITDA Margin 39.6% EBIT Margin 34.1% Total Debt/Equity 25.9% Net Income Margin 29.0% Total Debt/Capital 20.2% Asset Turnover 0.66 Current Ratio 1.77 Net Fixed Asset Turnover 5.84 Quick Ratio 1.43 Accounts receivable turnover-days 18.24 Debt to Assets 14.22% Inventory Days 5.71 Tot Debt to Common Equity 25.91% Accounts Payable Turnover Day 62.92 Accounts Receivable Turnover 20.07 Cash Conversion Cycle -38.97 Inventory Turnover 64.10 Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Fiscal Year Ended Tencent Holdings Ltd Price/Volume Valuation Analysis 4'940'443.00 Current Price (5/dd/yy) Market Data 0 50 100 150 200 250 300 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 .0 M 2.0 M 4.0 M 6.0 M 8.0 M 10.0 M 12.0 M 14.0 M 16.0 M 18.0 M 20.0 M 0.0 5'000.0 10'000.0 15'000.0 20'000.0 25'000.0 30'000.0 35'000.0 40'000.0 45'000.0 50'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.00 0.20 0.40 0.60 0.80 1.00 1.20 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 13. 01.05.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type MIH TC HOLDINGS LTD n/a EXCH 630'240'380 34 - 24.01.2013 Other HUATENG MA n/a EXCH 189'892'880 10.24 - 09.04.2013 n/a JP MORGAN n/a ULT-AGG 83'853'904 4.52 800 31.12.2012 Investment Advisor ZHIDONG ZHANG n/a Co File 66'000'000 3.56 - 31.12.2012 n/a VANGUARD GROUP INC Multiple Portfolios MF-AGG 41'864'402 2.26 (452'815) 31.03.2013 Investment Advisor CAPITAL GROUP COMPAN n/a ULT-AGG 36'113'000 1.95 6'000'000 31.03.2013 Investment Advisor BLACKROCK n/a ULT-AGG 33'829'061 1.83 319'700 29.04.2013 Investment Advisor FMR LLC n/a ULT-AGG 31'307'167 1.69 (2'555'651) 31.03.2013 Investment Advisor WADDELL & REED FINAN Multiple Portfolios MF-AGG 18'614'700 1 1'189'900 31.12.2012 Investment Advisor T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 16'215'600 0.87 (1'776'300) 31.03.2013 Investment Advisor OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 15'521'800 0.84 486'800 28.02.2013 Investment Advisor STATE STREET n/a ULT-AGG 13'809'851 0.75 (522'595) 30.04.2013 Investment Advisor SCHRODER INVESTMENT Multiple Portfolios MF-AGG 8'509'100 0.46 (909'700) 31.03.2013 Investment Advisor THORNBURG INVESTMENT Multiple Portfolios MF-AGG 6'313'082 0.34 61'103 28.02.2013 Investment Advisor SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 5'974'783 0.32 72'300 31.12.2012 Investment Advisor HANG SENG INVESTMENT Multiple Portfolios MF-AGG 5'280'826 0.28 - 30.06.2012 Investment Advisor BAILLIE GIFFORD AND Multiple Portfolios MF-AGG 4'657'000 0.25 - 31.01.2013 Investment Advisor CHI PING LAU n/a Co File 4'603'600 0.25 - 31.12.2012 n/a ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 3'891'429 0.21 214'300 31.12.2012 Investment Advisor BARING ASSET MANAGEM Multiple Portfolios MF-AGG 3'873'000 0.21 (625'700) 31.12.2012 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date Deutsche Bank ALAN HELLAWELL hold 3 M 266 12 month 30.04.2013 AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 280 Not Provided 30.04.2013 SWS Research Co Ltd JIM TANG outperform 5 M 275 Not Provided 25.04.2013 Brean Murray Carret & Co FAWNE JIANG buy 5 M 297 12 month 23.04.2013 Barclays ALICIA YAP overweight 5 M 290 Not Provided 19.04.2013 HSBC CHI TSANG underweight 1 M 223 Not Provided 17.04.2013 Daiwa Securities Co. Ltd. JOHN CHOI buy 5 M 320 Not Provided 12.04.2013 Nomura JIN YOON reduce 2 M 180 12 month 11.04.2013 Jefferies CYNTHIA JINHONG MENG buy 5 M 330 12 month 10.04.2013 Haitong International Securities ALEX LEE hold 3 M 265 12 month 08.04.2013 BOCOM International Holdings MA YUAN buy 5 M 293 Not Provided 03.04.2013 China International Capital Corp CHEN HAOFEI buy 5 M 286 12 month 02.04.2013 EVA Dimensions ANDREW S ZAMFOTIS overweight 5 U #N/A N/A Not Provided 02.04.2013 First Shanghai Securities Ltd TSOI HO hold 3 D 260 12 month 27.03.2013 Avior Research RICHARD TESSENDORF neutral 3 M 299 Not Provided 26.03.2013 Capital Securities Corp HU JIAMING buy 5 M 290 Not Provided 22.03.2013 Core Pacific KEVIN TAM buy 5 M 295 Not Provided 22.03.2013 Morgan Stanley TIMOTHY CHAN Overwt/Attractive 5 M 316 12 month 21.03.2013 JPMorgan DICK WEI overweight 5 M 300 6 month 21.03.2013 Pacific Crest Securities EVAN S WILSON outperform 5 M 300 12 month 21.03.2013 Macquarie JIONG SHAO underperform 1 M 180 12 month 21.03.2013 Bank of China International THOMAS CHONG buy 5 M 293 Not Provided 21.03.2013 DBS Vickers BILL HUANG hold 3 M 260 12 month 21.03.2013 CIMB WENDY HUANG outperform 5 M 343 12 month 21.03.2013 Goldman Sachs PIYUSH MUBAYI Buy/Neutral 5 M 304 12 month 20.03.2013 Piper Jaffray MARK A MAROSTICA neutral 3 M 220 12 month 20.03.2013 Wedge Partners JUAN LIN no rating system #N/A N/A M #N/A N/A Not Provided 15.03.2013 Ji Asia JUSTIN WEISS buy 5 U 360 12 month 12.03.2013 Credit Suisse WALLACE CHEUNG outperform 5 M 301 Not Provided 31.01.2013 Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 16.08.2012 Guotai Junan DUNDAS DENG buy 5 M 270 Not Provided 09.07.2012 ICBC International Securities KARY SEI hold 3 M 217 Not Provided 04.06.2012 Standard Chartered DON SEE outperform 5 M 237 12 month 18.05.2012 Mega Securities TIMOTHY LI hold 3 D 185 12 month 23.03.2010 PingAn Securities ZHONGZHI LI strong buy 5 M 188 6 month 29.01.2010 Holdings By: Tencent Holdings Ltd All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 14. 01.05.2013 Bank of China Ltd provides a complete range of banking and other financial services to individual and corporation customers worldwide. The bank's services include retail banking, Great Wall credit card and debit card services, consumer credit, foreign currency transaction, corporate banking, settlement and clearing,investment banking, and fund management businesses. Latest Fiscal Year: 12/2012 LTM as of: 03/yy 52-Week High (04.02.2013) 4.00 52-Week Low (06.09.2012) 2.73 Daily Volume 3.63 52-Week High % Change -9.25% Dividend Yield 6.07 52-Week Low % Change 32.97% Beta 1.12 % 52 Week Price Range High/Low 70.87% Equity Float 72'987.26 Shares Out 31.03.2013 83'622.3 Short Int - 1'009'942.06 1 Yr Total Return 19.15% Total Debt 2'243'457.00 YTD Return 4.91% Preferred Stock 0.0 Adjusted BETA 1.116 Minority Interest 36'865.0 Analyst Recs 39 Cash and Equivalents 3'157'170.00 Consensus Rating 4.077 Enterprise Value - Average Volume 5 Day ######### 3988 HK EQUITY YTD Change - Average Volume 30 Day ######### 3988 HK EQUITY YTD % CHANGE - Average Volume 3 Month ######### LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3 355'641.0 337'018.0 395'271.0 514'133.0 619'095.0 551'001.0 460'542.0 393'840.9 431'641.5 - - - - - - - 0.00x 0.00x - - - - - - - - - 0.0 0.0 - - - - - - - - - 0.00x 0.00x - - - - 64'360.0 80'819.0 104'418.0 124'276.0 139'432.0 127'600.0 142'484.0 142'817.9 152'145.5 - - 7.47x 11.62x 8.91x 5.16x 5.57x 5.57x 5.67x 5.67x 5.34x - - EBITDA - Long-Term Rating Date 29.11.2011 EBIT - Long-Term Rating A Operating Margin 50.02% Long-Term Outlook STABLE Pretax Margin 50.71% Short-Term Rating Date 29.11.2011 Return on Assets 1.14% Short-Term Rating A-1 Return on Common Equity 18.01% Return on Capital 5.04% EBITDA/Interest Exp. - Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. - Net Debt/EBITDA - Gross Margin - Total Debt/EBITDA - EBITDA Margin - EBIT Margin - Total Debt/Equity 272.0% Net Income Margin 37.7% Total Debt/Capital 72.3% Asset Turnover 0.05 Current Ratio - Net Fixed Asset Turnover 4.03 Quick Ratio - Accounts receivable turnover-days - Debt to Assets 17.69% Inventory Days - Tot Debt to Common Equity 272.04% Accounts Payable Turnover Day - Accounts Receivable Turnover - Cash Conversion Cycle - Inventory Turnover - Fiscal Year Ended Bank of China Ltd Price/Volume Valuation Analysis 356'119'091.00 Current Price (5/dd/yy) Market Data Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure 0 1 1 2 2 3 3 4 4 5 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 .0 M 500.0 M 1000.0 M 1500.0 M 2000.0 M 2500.0 M 3000.0 M 3500.0 M 4000.0 M 4500.0 M 0.0 100'000.0 200'000.0 300'000.0 400'000.0 500'000.0 600'000.0 700'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.00 50.00 100.00 150.00 200.00 250.00 300.00 350.00 400.00 450.00 500.00 01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 15. 01.05.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type BLACKROCK n/a ULT-AGG 8'164'115'320 9.76 44'624'000 29.04.2013 Investment Advisor SOCIAL SECURITY FUND n/a EXCH 7'518'157'041 8.99 - 28.01.2013 Government CAPITAL GROUP COMPAN n/a ULT-AGG 5'385'933'846 6.44 - 31.03.2013 Investment Advisor JP MORGAN n/a ULT-AGG 4'087'482'221 4.89 702'000 31.12.2012 Investment Advisor TEMASEK HOLDINGS PRI n/a ULT-AGG 3'116'864'905 3.73 - 04.05.2012 Government VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'019'069'988 2.41 (19'461'100) 31.03.2013 Investment Advisor DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 1'064'669'933 1.27 - 31.07.2012 Investment Advisor STATE STREET n/a ULT-AGG 960'629'200 1.15 (29'415'851) 30.04.2013 Investment Advisor HANG SENG INVESTMENT Multiple Portfolios MF-AGG 951'146'461 1.14 - 30.06.2012 Investment Advisor FMR LLC n/a ULT-AGG 692'199'106 0.83 311'393'890 31.03.2013 Investment Advisor MITSUBISHI UFJ FINAN n/a ULT-AGG 548'954'200 0.66 1'383'000 22.01.2013 Holding Company T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 328'263'100 0.39 12'475'000 31.03.2013 Investment Advisor ASIAN DEVELOPMENT BA n/a Co File 304'007'461 0.36 - 31.12.2011 Bank BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 301'735'882 0.36 516'608 29.04.2013 Investment Advisor FRANKLIN RESOURCES n/a ULT-AGG 300'179'500 0.36 (36'674'000) 31.12.2012 Investment Advisor PRUDENTIAL FINANCIAL n/a ULT-AGG 267'659'000 0.32 (12'092'000) 31.03.2013 Investment Advisor BARING ASSET MANAGEM Multiple Portfolios MF-AGG 252'617'700 0.3 71'550'000 31.12.2012 Investment Advisor PICTET & CIE Multiple Portfolios MF-AGG 250'834'100 0.3 (4'008'000) 31.01.2013 Investment Advisor SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 248'698'686 0.3 - 31.12.2012 Investment Advisor EASTSPRING INVESTMEN Multiple Portfolios MF-AGG 191'503'000 0.23 - 14.09.2012 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date Deutsche Bank TRACY YU buy 5 M 4 12 month 30.04.2013 Sanford C. Bernstein & Co MICHAEL WERNER outperform 5 M 5 12 month 30.04.2013 Macquarie VICTOR WANG outperform 5 M 4 12 month 30.04.2013 DBS Vickers ALEXANDER LEE buy 5 M 4 12 month 30.04.2013 Jefferies TAN MING buy 5 M 5 12 month 29.04.2013 JPMorgan KATHERINE LEI neutral 3 M 4 12 month 28.04.2013 Bank of China International YUAN LIN buy 5 M 5 Not Provided 26.04.2013 UOB Kay Hian EDMOND LAW hold 3 M 4 Not Provided 26.04.2013 Religare Capital Markets SOPHIE JIANG hold 3 M 4 12 month 26.04.2013 BOCOM International Holdings LI SHANSHAN long-term buy 5 M 4 Not Provided 26.04.2013 AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M #N/A N/A Not Provided 26.04.2013 Morgan Stanley RICHARD XU Equalwt/In-Line 3 M 4 12 month 25.04.2013 Credit Suisse SANJAY JAIN neutral 3 M 4 Not Provided 25.04.2013 CIMB TREVOR KALCIC neutral 3 M 4 12 month 25.04.2013 Nomura LUCY FENG buy 5 M 4 Not Provided 25.04.2013 CCB International Securities Ltd SHENG NAN outperform 5 M 4 Not Provided 25.04.2013 ABC International JOHANNES AU hold 3 M 4 12 month 12.04.2013 HSBC TODD DUNIVANT neutral 3 M 4 Not Provided 07.04.2013 Capital Securities Corp TEAM COVERAGE hold 3 M #N/A N/A Not Provided 27.03.2013 Mizuho Securities JIM ANTOS neutral 3 M 3 12 month 27.03.2013 China International Capital Corp MAO JUNHUA buy 5 M 4 12 month 27.03.2013 Mirae Asset Securities NAN LI buy 5 M 4 12 month 27.03.2013 Barclays MAY YAN overweight 5 M 4 Not Provided 27.02.2013 Standard Chartered JOHN CAPARUSSO outperform 5 M 4 12 month 26.02.2013 Goldman Sachs NING MA neutral/neutral 3 M 4 12 month 25.02.2013 ICBC International Securities IVAN LIN buy 5 M 4 Not Provided 20.02.2013 Core Pacific TIMOTHY LI hold 3 M 4 Not Provided 05.02.2013 Daiwa Securities Co. Ltd. GRACE WU buy 5 M 4 Not Provided 22.01.2013 EVA Dimensions AUSTIN BURKETT buy 5 M #N/A N/A Not Provided 17.01.2013 SWS Research Co Ltd ROBERT HU neutral 3 M 4 Not Provided 09.01.2013 BNP Paribas Equity Research DORRIS CHEN buy 5 M 4 12 month 07.11.2012 Masterlink Securities RAINY YUAN hold 3 M 4 6 month 30.10.2012 Guotai Junan WILSON LI accumulate 4 M 4 Not Provided 30.10.2012 Phillip Securities CHEN XINGYU accumulate 4 M 3 Not Provided 26.10.2012 Citic Securities Co., Ltd ZHU YAN overweight 5 M #N/A N/A Not Provided 29.06.2012 Holdings By: Bank of China Ltd All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 16. 01.05.2013 CNOOC Limited, through its subsidiaries, explores, develops, produces, and sells crude oil and natural gas. The Group's core operation areas are Bohai, Western South China Sea, Eastern South China Sea and East China Sea in offshore China. Internationally, the Group has oil and gas assets in Asia, Africa, North America, South America and Oceania. Latest Fiscal Year: 12/2012 LTM as of: 01/yy 52-Week High (04.01.2013) 17.38 52-Week Low (05.06.2012) 13.18 Daily Volume 14.48 52-Week High % Change -16.69% Dividend Yield 3.28 52-Week Low % Change 9.86% Beta 1.25 % 52 Week Price Range High/Low 30.95% Equity Float 15'873.58 Shares Out 28.02.2013 44'646.3 Short Int - 646'478.50 1 Yr Total Return -9.78% Total Debt 57'886.00 YTD Return -13.71% Preferred Stock 0.0 Adjusted BETA 1.249 Minority Interest 0.0 Analyst Recs 33 Cash and Equivalents 133'709.00 Consensus Rating 4.121 Enterprise Value 437'734.49 Average Volume 5 Day 60'515'140 883 HK EQUITY YTD Change - Average Volume 30 Day 65'280'120 883 HK EQUITY YTD % CHANGE - Average Volume 3 Month 63'290'860 LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y - - 125'977.4 105'195.1 180'036.0 240'944.0 247'627.0 - - 251'097.4 269'009.9 - - 1.95x 4.24x 3.71x 1.79x 2.13x - - 2.09x 1.89x - - 65'262.9 56'272.8 97'993.0 119'044.0 117'702.0 - - 127'019.2 136'301.2 - - 3.77x 7.93x 6.82x 3.62x 4.48x - - 3.45x 3.21x - - 44'375.3 29'485.6 54'410.0 70'255.0 63'691.0 - - 62'601.1 65'080.1 - - 6.44x 16.28x 12.81x 7.02x 9.44x - - 8.39x 8.10x - - EBITDA 117'702.00 Long-Term Rating Date 16.12.2010 EBIT 84'799.00 Long-Term Rating AA- Operating Margin 34.24% Long-Term Outlook STABLE Pretax Margin 36.41% Short-Term Rating Date - Return on Assets 15.16% Short-Term Rating - Return on Common Equity 22.24% Return on Capital - EBITDA/Interest Exp. 71.42 Asset Turnover 0.59% (EBITDA-Capex)/Interest Exp. 33.25 Net Debt/EBITDA -0.64 Gross Margin - Total Debt/EBITDA 0.49 EBITDA Margin 47.5% EBIT Margin 34.2% Total Debt/Equity 18.7% Net Income Margin 25.7% Total Debt/Capital 15.7% Asset Turnover 0.59 Current Ratio 2.07 Net Fixed Asset Turnover 1.05 Quick Ratio 1.91 Accounts receivable turnover-days 32.73 Debt to Assets 12.69% Inventory Days - Tot Debt to Common Equity 18.69% Accounts Payable Turnover Day - Accounts Receivable Turnover 11.18 Cash Conversion Cycle - Inventory Turnover - Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Fiscal Year Ended CNOOC Ltd Price/Volume Valuation Analysis 66'687'176.00 Current Price (5/dd/yy) Market Data 0 2 4 6 8 10 12 14 16 18 20 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 .0 M 20.0 M 40.0 M 60.0 M 80.0 M 100.0 M 120.0 M 140.0 M 160.0 M 0.0 50'000.0 100'000.0 150'000.0 200'000.0 250'000.0 300'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.00 0.20 0.40 0.60 0.80 1.00 1.20 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 17. 01.05.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type CHINA NATIONAL OFFSH n/a 20F 28'772'727'273 64.45 - 31.03.2012 Government BLACKROCK n/a ULT-AGG 590'469'601 1.32 7'235'000 29.04.2013 Investment Advisor FRANKLIN RESOURCES n/a ULT-AGG 532'935'247 1.19 (6'030'000) 28.03.2013 Investment Advisor VANGUARD GROUP INC Multiple Portfolios MF-AGG 528'716'724 1.18 (13'460'500) 31.03.2013 Investment Advisor THORNBURG INVESTMENT Multiple Portfolios MF-AGG 265'808'980 0.6 (28'785'000) 28.02.2013 Investment Advisor FMR LLC n/a ULT-AGG 237'922'779 0.53 (52'889'505) 31.03.2013 Investment Advisor STATE STREET n/a ULT-AGG 229'365'203 0.51 (8'344'101) 30.04.2013 Investment Advisor SCHRODER INVESTMENT Multiple Portfolios MF-AGG 229'247'200 0.51 (21'188'000) 31.03.2013 Investment Advisor OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 181'137'000 0.41 - 28.02.2013 Investment Advisor T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 157'408'000 0.35 8'151'000 31.03.2013 Investment Advisor COMMONWEALTH BANK OF Multiple Portfolios MF-AGG 139'327'500 0.31 1'058'000 31.01.2013 Bank JP MORGAN n/a ULT-AGG 128'788'000 0.29 (8'768'000) 31.03.2013 Investment Advisor LAZARD ASSET MANAGEM n/a ULT-AGG 86'396'000 0.19 (1'001'000) 31.03.2013 Unclassified HANG SENG INVESTMENT Multiple Portfolios MF-AGG 86'312'291 0.19 - 30.06.2012 Investment Advisor SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 78'661'957 0.18 8'004'000 31.12.2012 Investment Advisor ABERDEEN n/a ULT-AGG 76'599'000 0.17 10'176'000 31.03.2013 Unclassified BARING ASSET MANAGEM Multiple Portfolios MF-AGG 76'087'000 0.17 3'949'000 31.12.2012 Investment Advisor INVESCO LTD n/a ULT-AGG 71'342'468 0.16 (30'335'907) 30.04.2013 Investment Advisor ALLIANZ ASSET MANAGE n/a ULT-AGG 70'168'164 0.16 (2'224'700) 31.03.2013 Investment Advisor CAPITAL GROUP COMPAN n/a ULT-AGG 68'538'000 0.15 - 31.03.2013 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date Jefferies LABAN YU hold 3 M 13 12 month 30.04.2013 Sanford C. Bernstein & Co NEIL BEVERIDGE outperform 5 M 22 12 month 30.04.2013 Credit Suisse DAVID HEWITT outperform 5 M 20 Not Provided 29.04.2013 Bank of China International LAWRENCE LAU buy 5 M 17 Not Provided 29.04.2013 UOB Kay Hian YAN SHI sell 1 M 14 Not Provided 29.04.2013 BOCOM International Holdings WU FEI buy 5 M 17 Not Provided 29.04.2013 Deutsche Bank DAVID HURD hold 3 M 15 12 month 26.04.2013 Morgan Stanley ANDY MENG Overwt/Attractive 5 M 17 12 month 26.04.2013 Nomura SONIA SONG neutral 3 M 15 Not Provided 26.04.2013 VTB Capital COLIN SMITH buy 5 U 17 12 month 24.04.2013 Mizuho Securities ANDREW S F CHAN buy 5 U 16 12 month 16.04.2013 SWS Research Co Ltd ALBERT MIAO outperform 5 M 19 Not Provided 27.03.2013 China International Capital Corp BIN GUAN buy 5 U 18 12 month 25.03.2013 Mirae Asset Securities GORDON KWAN buy 5 U 16 12 month 25.03.2013 ICBC International Securities ANNA YU hold 3 M 15 Not Provided 25.03.2013 Standard Chartered DUKE SUTTIKULPANICH outperform 5 M 18 12 month 23.03.2013 Macquarie JAMES HUBBARD outperform 5 M 20 12 month 23.03.2013 JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 13 6 month 22.03.2013 BNP Paribas Equity Research CHENG KHOO hold 3 M 17 12 month 22.03.2013 Ji Asia SAMUEL THAWLEY sell 1 M 10 12 month 21.03.2013 Goldman Sachs ARTHUR YAN Buy/Neutral 5 M 18 12 month 18.03.2013 HSBC THOMAS C HILBOLDT overweight 5 M 18 Not Provided 07.03.2013 Guotai Junan GRACE LIU accumulate 4 M 19 Not Provided 04.02.2013 Daiwa Securities Co. Ltd. ADRIAN LOH buy 5 M 20 Not Provided 30.01.2013 EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 17.01.2013 Citic Securities Co., Ltd HUANG LILI overweight 5 N 19 6 month 18.12.2012 Renaissance Capital BRADLEY WAY hold 3 M 16 12 month 30.11.2012 JF Apex Securities Bhd TEAM COVERAGE hold 3 M #N/A N/A Not Provided 25.07.2012 AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 16 Not Provided 24.07.2012 Capital Securities Corp TEAM COVERAGE hold 3 M #N/A N/A Not Provided 29.03.2012 Industrial Securities FANG LEI buy 5 N #N/A N/A Not Provided 20.07.2009 Holdings By: CNOOC Ltd All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 18. 01.05.2013 PetroChina Company Limited explores, develops, and produces crude oil and natural gas. The Company also refines, transports, and distributes crude oil and petroleum products, produces and sells chemicals, and transmits, markets and sells natural gas. Latest Fiscal Year: 12/2012 LTM as of: 03/yy 52-Week High (02.05.2012) 11.82 52-Week Low (05.09.2012) 9.03 Daily Volume 9.87 52-Week High % Change -16.50% Dividend Yield - 52-Week Low % Change 9.30% Beta 0.93 % 52 Week Price Range High/Low 30.11% Equity Float 20'807.38 Shares Out 31.03.2013 21'098.9 Short Int - 1'936'725.13 1 Yr Total Return -12.60% Total Debt 447'286.00 YTD Return -10.11% Preferred Stock 0.0 Adjusted BETA 0.934 Minority Interest 116'619.0 Analyst Recs 32 Cash and Equivalents 49'953.00 Consensus Rating 3.563 Enterprise Value 2'109'286.31 Average Volume 5 Day 71'054'550 857 HK EQUITY YTD Change - Average Volume 30 Day 68'013'610 857 HK EQUITY YTD % CHANGE - Average Volume 3 Month 68'100'180 LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3 1'072'604.0 1'019'275.0 1'465'415.0 2'003'843.0 1'949'218.0 ######### ######### ######### ######### 608'986.0 652'358.0 1.78x 2.57x 1.54x 1.04x 1.11x 4.13x 4.09x 0.91x 0.89x - - 256'680.0 237'168.0 303'643.0 323'368.0 325'453.0 157'781.0 71'646.0 370'951.4 400'123.0 - - 7.45x 11.04x 7.43x 6.43x 6.65x 0.00x 0.00x 5.69x 5.27x - - 114'453.0 103'387.0 139'992.0 132'961.0 115'323.0 135'143.0 112'189.0 134'299.3 144'471.8 32'281.0 30'063.0 9.49x 14.65x 11.33x 10.74x 14.02x 12.20x 13.14x 10.68x 9.92x - - EBITDA 325'453.00 Long-Term Rating Date - EBIT 174'918.00 Long-Term Rating - Operating Margin 8.97% Long-Term Outlook - Pretax Margin 8.56% Short-Term Rating Date - Return on Assets 5.18% Short-Term Rating - Return on Common Equity 10.46% Return on Capital - EBITDA/Interest Exp. 14.19 Asset Turnover 0.94% (EBITDA-Capex)/Interest Exp. -0.24 Net Debt/EBITDA - Gross Margin 16.1% Total Debt/EBITDA - EBITDA Margin - EBIT Margin 8.6% Total Debt/Equity 42.0% Net Income Margin 5.9% Total Debt/Capital 27.5% Asset Turnover 0.94 Current Ratio 0.73 Net Fixed Asset Turnover 2.57 Quick Ratio 0.22 Accounts receivable turnover-days 15.76 Debt to Assets 20.62% Inventory Days - Tot Debt to Common Equity 42.03% Accounts Payable Turnover Day - Accounts Receivable Turnover 23.15 Cash Conversion Cycle 14.58 Inventory Turnover - Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Fiscal Year Ended PetroChina Co Ltd Price/Volume Valuation Analysis 55'776'963.00 Current Price (5/dd/yy) Market Data 0 2 4 6 8 10 12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 .0 M 20.0 M 40.0 M 60.0 M 80.0 M 100.0 M 120.0 M 140.0 M 160.0 M 0.0 500'000.0 1'000'000.0 1'500'000.0 2'000'000.0 2'500'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 10.00 01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 19. 01.05.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type BLACKROCK n/a ULT-AGG 1'964'964'108 9.31 2'382'000 29.04.2013 Investment Advisor ABERDEEN n/a ULT-AGG 1'909'262'023 9.05 - 16.04.2013 Unclassified FRANKLIN RESOURCES n/a ULT-AGG 1'506'858'769 7.14 250'000 28.02.2013 Investment Advisor JP MORGAN n/a ULT-AGG 1'470'551'067 6.97 224'000 21.01.2013 Investment Advisor VANGUARD GROUP INC Multiple Portfolios MF-AGG 562'558'554 2.67 (15'095'200) 31.03.2013 Investment Advisor HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 350'420'000 1.66 - 31.12.2012 Investment Advisor CHINA NATIONAL PETRO n/a 20F 291'518'000 1.38 - 31.03.2012 Government HANG SENG INVESTMENT Multiple Portfolios MF-AGG 277'448'830 1.31 - 30.06.2012 Investment Advisor STATE STREET n/a ULT-AGG 277'091'176 1.31 (9'760'632) 30.04.2013 Investment Advisor FMR LLC n/a ULT-AGG 201'301'800 0.95 (33'685'999) 31.03.2013 Investment Advisor TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 78'740'272 0.37 (364'000) 31.12.2012 Investment Advisor BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 77'038'000 0.37 10'000'000 29.04.2013 Investment Advisor MANULIFE FUNDS DIREC Multiple Portfolios MF-AGG 66'938'000 0.32 - 30.06.2012 Unclassified HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 59'934'000 0.28 (14'076'000) 30.06.2012 Investment Advisor DANSKE INVEST A/S Multiple Portfolios MF-AGG 59'346'335 0.28 1'406'000 31.03.2013 Investment Advisor SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 58'757'243 0.28 (10'296'000) 31.12.2012 Investment Advisor BARING ASSET MANAGEM Multiple Portfolios MF-AGG 54'274'000 0.26 (72'000) 31.12.2012 Investment Advisor PRINCIPAL FINANCIAL n/a ULT-AGG 53'337'703 0.25 16'205'700 31.03.2013 Investment Advisor GRANTHAM MAYO VAN OT Multiple Portfolios MF-AGG 45'153'121 0.21 - 31.05.2012 Investment Advisor SCHRODER INVESTMENT Multiple Portfolios MF-AGG 41'892'000 0.2 10'046'000 31.03.2013 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date Jefferies LABAN YU buy 5 M 15 12 month 30.04.2013 Sanford C. Bernstein & Co NEIL BEVERIDGE market perform 3 M 11 12 month 30.04.2013 UOB Kay Hian YAN SHI hold 3 M 11 Not Provided 29.04.2013 Deutsche Bank DAVID HURD hold 3 M 11 12 month 26.04.2013 Morgan Stanley ANDY MENG Equalwt/Attractive 3 M 10 12 month 26.04.2013 Bank of China International LAWRENCE LAU buy 5 M 12 Not Provided 26.04.2013 Nomura SONIA SONG neutral 3 M 11 Not Provided 25.04.2013 Mirae Asset Securities GORDON KWAN buy 5 M 13 12 month 08.04.2013 Credit Suisse DAVID HEWITT neutral 3 M 11 Not Provided 04.04.2013 BNP Paribas Equity Research CHENG KHOO hold 3 M 10 12 month 27.03.2013 Standard Chartered DUKE SUTTIKULPANICH outperform 5 M 14 12 month 22.03.2013 Mizuho Securities ANDREW S F CHAN underperform 1 M 9 12 month 22.03.2013 China International Capital Corp BIN GUAN accumulate 4 U 11 12 month 22.03.2013 BOCOM International Holdings WU FEI long-term buy 5 M 11 Not Provided 22.03.2013 ICBC International Securities ANNA YU hold 3 M 10 Not Provided 22.03.2013 JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 8 6 month 21.03.2013 HSBC THOMAS C HILBOLDT underweight 1 M 10 Not Provided 21.03.2013 Macquarie JAMES HUBBARD neutral 3 M 11 12 month 21.03.2013 VTB Capital COLIN SMITH sell 1 M 9 12 month 21.03.2013 Goldman Sachs ARTHUR YAN neutral/neutral 3 M 11 12 month 18.03.2013 EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 06.03.2013 Daiwa Securities Co. Ltd. ADRIAN LOH outperform 5 M 12 Not Provided 11.12.2012 Renaissance Capital BRADLEY WAY buy 5 M 13 12 month 30.11.2012 Masterlink Securities LI XIN hold 3 D 12 Not Provided 28.11.2012 Ji Asia SAMUEL THAWLEY neutral 3 D 10 Not Provided 08.11.2012 Capital Securities Corp TEAM COVERAGE hold 3 D #N/A N/A Not Provided 31.10.2012 Citic Securities Co., Ltd HUANG LILI overweight 5 D 11 6 month 24.08.2012 Guotai Junan GRACE LIU accumulate 4 D 11 Not Provided 14.08.2012 Everbright Securities Co., Ltd VIVIAN CHEUNG not rated #N/A N/A M #N/A N/A Not Provided 31.05.2012 SWS Research Co Ltd YE RONG neutral 3 M 10 Not Provided 28.10.2011 Industrial Securities FANG LEI strong buy 5 N #N/A N/A Not Provided 20.07.2009 Holdings By: PetroChina Co Ltd All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  • 20. 01.05.2013 China Petroleum and Chemical Corporation (Sinopec) refines, produces and trades petroleum and petrochemical products such as gasoline, diesel, jet fuel, kerosene, ethylene, synthetic fibers, synthetic rubber, synthetic resins, and chemical fertilizers. Also, The company explores for and produces crude oil and natural gas in China. Latest Fiscal Year: 12/2012 LTM as of: 03/yy 52-Week High (30.01.2013) 9.57 52-Week Low (11.07.2012) 6.38 Daily Volume 8.49 52-Week High % Change -11.29% Dividend Yield 4.45 52-Week Low % Change 33.07% Beta 0.81 % 52 Week Price Range High/Low 66.14% Equity Float 18'405.32 Shares Out 31.03.2013 19'625.7 Short Int - 759'992.06 1 Yr Total Return 6.85% Total Debt 284'546.00 YTD Return -3.30% Preferred Stock 0.0 Adjusted BETA 0.811 Minority Interest 37'122.0 Analyst Recs 30 Cash and Equivalents 10'864.00 Consensus Rating 3.900 Enterprise Value 918'193.81 Average Volume 5 Day 92'013'100 386 HK EQUITY YTD Change - Average Volume 30 Day 90'820'000 386 HK EQUITY YTD % CHANGE - Average Volume 3 Month ######### LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3 1'387'077.0 1'212'168.0 1'876'758.0 2'463'767.0 2'733'618.0 ######### ######### ######### ######### 732'951.0 722'780.0 0.59x 1.09x 0.48x 0.35x 0.34x 1.39x 1.32x 0.32x 0.32x - - 29'228.0 151'545.0 178'098.0 170'962.0 169'557.0 0.0 0.0 196'859.4 210'220.4 - - 27.82x 8.73x 5.03x 5.05x 5.45x 0.00x 0.00x 4.66x 4.37x - - 28'445.0 62'677.0 71'782.0 73'225.0 63'879.0 64'025.0 66'501.0 77'451.9 81'160.5 18'164.0 18'745.0 12.59x 8.42x 7.62x 7.84x 9.60x 9.29x 9.60x 7.81x 7.46x - - EBITDA 169'557.00 Long-Term Rating Date 16.12.2010 EBIT 99'101.00 Long-Term Rating A+ Operating Margin 3.63% Long-Term Outlook STABLE Pretax Margin 3.32% Short-Term Rating Date - Return on Assets 5.30% Short-Term Rating - Return on Common Equity 12.99% Return on Capital 9.42% EBITDA/Interest Exp. 14.05 Asset Turnover 2.27% (EBITDA-Capex)/Interest Exp. 1.98 Net Debt/EBITDA 1.61 Gross Margin - Total Debt/EBITDA 1.68 EBITDA Margin 6.2% EBIT Margin 3.6% Total Debt/Equity 55.7% Net Income Margin 2.3% Total Debt/Capital 34.2% Asset Turnover 2.27 Current Ratio 0.71 Net Fixed Asset Turnover 3.65 Quick Ratio 0.22 Accounts receivable turnover-days 12.59 Debt to Assets 22.46% Inventory Days - Tot Debt to Common Equity 55.69% Accounts Payable Turnover Day - Accounts Receivable Turnover 29.06 Cash Conversion Cycle - Inventory Turnover - Fiscal Year Ended China Petroleum & Chemical Corp Price/Volume Valuation Analysis 78'686'338.00 Current Price (5/dd/yy) Market Data Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure 0 1 2 3 4 5 6 7 8 9 10 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 .0 M 100.0 M 200.0 M 300.0 M 400.0 M 500.0 M 600.0 M 0.0 500'000.0 1'000'000.0 1'500'000.0 2'000'000.0 2'500'000.0 3'000'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.00 1.00 2.00 3.00 4.00 5.00 6.00 01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |