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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Construction Bank Corporation    939   CNE1000002H1

CHINA CONSTRUCTION BANK CORPORATION

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China's central bank extends control of Baoshang Bank by six months

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05/23/2020 | 04:22am EDT

China's central bank said on Saturday said temporary control of Inner Mongolia-based Baoshang Bank will be extended by six months due to the novel coronavirus pandemic.

Chinese financial regulators took control of Baoshang in May last year citing "serious" credit risks, and have since approved Mengshang Bank and Huishang Bank to take over its assets and operations.

The People's Bank of China said in a statement regulators would extend control of Baoshang - initially set to last for up to a year - to Nov. 23. It added that Mengshang and Huishang's acquisition plans were proceeding in an orderly manner.

Baoshang Bank came to prominence after its key stakeholder Tomorrow Holdings was targeted in a government crackdown on systemic risks posed by financial conglomerates.

The rare takeover, the first in nearly two decades, also highlights the long struggle of some smaller regional lenders in China, which suffer from deteriorating asset qualities, inadequate capital buffers, and poor internal controls and corporate governance.

(Reporting by Brenda Goh; Editing by Shri Navaratnam)

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF CHINA LIMITED 0.00% 2.92 End-of-day quote.-12.31%
CHINA CONSTRUCTION BANK CORPORATION -0.31% 6.34 End-of-day quote.-5.79%
HUISHANG BANK CORPORATION LIMITED 0.00% 2.7 End-of-day quote.-5.59%
INNER MONGOLIA YILI INDUSTRIAL GROUP CO., LTD. 0.42% 28.88 End-of-day quote.-6.66%
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Financials
Sales 2020 730 B 103 B 103 B
Net income 2020 278 B 39 178 M 39 178 M
Net Debt 2020 - - -
P/E ratio 2020 5,29x
Yield 2020 5,75%
Capitalization 1 459 B 205 B 206 B
EV / Sales 2019
Capi. / Sales 2020 2,00x
Nbr of Employees 347 156
Free-Float 98,4%
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Technical analysis trends CHINA CONSTRUCTION BANK CO
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Mean consensus BUY
Number of Analysts 25
Average target price 7,24 CNY
Last Close Price 5,81 CNY
Spread / Highest target 51,3%
Spread / Average Target 24,6%
Spread / Lowest Target -10,2%
EPS Revisions
Managers
NameTitle
Gui Ping Liu Vice Chairman, President & General Manager
Guo Li Tian Chairman
Geng Sheng Zhang Executive Director & Executive Vice President
Zhen Yu Li Member-Supervisory Board
Xiu Kun Li Member-Supervisory Board
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