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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  China Merchants Bank Co.. Ltd.    600036   CNE000001B33

CHINA MERCHANTS BANK CO.. LTD.

(600036)
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China Merchants Securities : ·THIRD QUARTERLY REPORT OF 2020

10/30/2020 | 04:35am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

招 商 銀 行 股 份 有 限 公 司

CHINA MERCHANTS BANK CO., LTD.

(H Share Stock Code: 03968)

(Preference Share Stock Code: 04614)

THIRD QUARTERLY REPORT OF 2020

Pursuant to the regulations of the China Securities Regulatory Commission, the Company is required to publish a quarterly report for each of the first and third quarters.

The financial information set out in this quarterly report is unaudited and prepared in accordance with the International Financial Reporting Standards.

This announcement is made by the Company pursuant to Rule 13.09 and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).

China Merchants Bank

2

Third Quarterly Report of 2020 (H Share)

1 Important Notice

The Board of Directors, the Board of Supervisors, Directors, Supervisors and senior management of the Company confirm that the contents in this report are true, accurate, and complete and have no false representations, misleading statements or material omissions, and they will individually and collectively accept legal responsibility for such contents.

The 18th meeting of the Eleventh Session of the Board of Directors of the Company was held through voting by correspondence. The third quarterly report of 2020 of the Company was unanimously approved at the meeting. 17 out of 17 eligible directors attended the meeting.

All financial statements set out in this report are prepared in accordance with the International Financial Reporting Standards and are unaudited. The unaudited quarterly report prepared by the Company in accordance with the PRC Accounting Standards has been published on the website of Shanghai Stock Exchange. Unless otherwise stated, all monetary sums stated in this report are expressed in RMB. In the event of any discrepancies in interpretation between the English and Chinese versions, the Chinese version shall prevail.

"China Merchants Bank", "the Company" and "the Bank" mentioned in this report refer to China Merchants Bank Co., Ltd.; and "the Group" refers to China Merchants Bank Co., Ltd. and its subsidiaries.

Miao Jianmin, Chairman of the Board of Directors of the Company, Tian Huiyu, President, Wang Liang, an Executive Vice President and Chief Financial Officer, and Li Li, the person in charge of the Finance and Accounting Department, hereby make representations in respect of the truthfulness, accuracy and completeness of the financial statements in this report.

We have included in this report certain forward-looking statements with respect to the financial position, operating results and business development of the Company. We use words such as "will", "may", "expect", "try", "strive", "plan", "anticipate", "aim at", and similar expressions to indicate forward-looking statements. These statements are based on current plans, estimates and projections. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company gives no assurance that these expectations will turn into reality or prove to be correct. Therefore they should not be deemed as the Company's commitments. Investors should not place undue reliance on such statements and should pay attention to investment risks. You are cautioned that such forward-looking statements are related to future events or future financial position, business, or other performances of the Company, and are subject to a number of uncertainties which may cause substantial differences from those in the actual results.

China Merchants Bank

3

Third Quarterly Report of 2020 (H Share)

2 General Information

2.1 Major accounting data and financial indicators of the Group

Increase/decrease

at the end of the

At the end of the

At the end of

reporting period

reporting period

last year

as compared to

30 September

31 December

the end of

(in millions of RMB, unless otherwise stated)

2020

2019

last year (%)

Total assets

8,156,700

7,417,240

9.97

Equity attributable to shareholders of the Bank

703,306

611,301

15.05

Net assets per share attributable to ordinary

shareholders of the Bank (in RMB Yuan)

24.55

22.89

7.25

Increase/decrease

as compared to

the corresponding

January to

January to

period of

(in millions of RMB, unless otherwise stated)

September 2020

September 2019

last year (%)

Net cash generated from (used in)

operating activities

219,828

(53,732)

N/A

Net cash generated from (used in) operating

activities per share (in RMB Yuan)

8.72

(2.13)

N/A

Increase/decrease

during the period

from January to

September 2020 as

The reporting

compared to the

period

January to

corresponding

July to

January to

September

period of

(in millions of RMB, unless otherwise stated)

September 2020

September 2020

2019

last year (%)

Net operating income

73,125

221,288

207,745

6.52

Net profit attributable to shareholders of the Bank

26,815

76,603

77,239

-0.82

Basic earnings per share attributable to ordinary

shareholders of the Bank (in RMB Yuan)

1.05

3.02

3.05

-0.98

Diluted earnings per share attributable to ordinary

shareholders of the Bank (in RMB Yuan)

1.05

3.02

3.05

-0.98

Annualised weighted average return on net assets

Decrease of 2.19

attributable to ordinary shareholders of the Bank (%)

17.40

17.00

19.19

percentage points

Note: The relevant indicators are calculated in accordance with the provisions of the "Rules on the Information Disclosure and Preparation of Companies Offering Securities to the Public No. 9 - Calculation and Disclosure of Return on Average Equity and Earnings per Share ( 公開發行 證券的公司信息披露編報規則第9- 淨資產收益率和每股收益的計算及披露》)". The Company issued non-cumulative preference shares in 2017 and perpetual bonds in July 2020, both are classified as other equity instruments. In addition, the Company completed the relevant approval procedures for the payment of dividends for offshore preference shares in the third interest-bearing year in September 2020. Therefore, when calculating earnings per share, return on average equity and net assets per share, the dividends on the offshore preference shares were deducted from "net profit attributable to shareholders of the Bank", while the preference shares and perpetual bonds were deducted from both the "average equity" and the "net assets".

China Merchants Bank

4

Third Quarterly Report of 2020 (H Share)

2.2 Explanation on the differences between the financial statements prepared in accordance with the PRC Accounting Standards and the International Financial Reporting Standards

In the financial statements prepared by the Group in accordance with the PRC Accounting Standards and the International Financial Reporting Standards, there has been no difference in the net profit attributable to shareholders of the Bank for the reporting period ended 30 September 2020 and the equity attributable to shareholders of the Bank at the end of the reporting period.

2.3 Analysis of capital adequacy ratios

The Group continued to optimise its business structure and enhance capital management, and has satisfied various capital requirements of the Chinese banking regulatory authorities during the reporting period. During the reporting period, the various capital requirements imposed by the regulatory authority on the Group and the Company were that: the minimum capital requirements for the capital adequacy ratio, the Tier 1 capital adequacy ratio and the core Tier 1 capital adequacy ratio were 8%, 6% and 5%, respectively. Based on the above-mentioned minimum capital requirements, further provision shall be made for reserve capital, counter-cyclical capital and additional capital, of which the reserve capital, counter-cyclical capital and additional capital were required to be 2.5%, 0% and 0%, respectively, which represented that the capital adequacy ratio, the Tier 1 capital adequacy ratio and the core Tier 1 capital adequacy ratio of the Group and the Company during the reporting period should not be lower than 10.5%, 8.5% and 7.5%, respectively.

As at the end of the reporting period, the core Tier 1 capital adequacy ratio, the Tier 1 capital adequacy ratio and the capital adequacy ratio of the Group under the Advanced Measurement Approach were 11.65%, 13.31% and 16.19%, respectively.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

China Merchants Bank Co. Ltd. published this content on 30 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2020 09:34:05 UTC


© Publicnow 2020
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Financials
Sales 2020 289 B 44 726 M 44 726 M
Net income 2020 94 086 M 14 552 M 14 552 M
Net Debt 2020 - - -
P/E ratio 2020 14,1x
Yield 2020 2,32%
Capitalization 1 301 B 201 B 201 B
Capi. / Sales 2020 4,50x
Capi. / Sales 2021 4,08x
Nbr of Employees 84 683
Free-Float 54,2%
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Technical analysis trends CHINA MERCHANTS BANK CO.. LTD.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 29
Average target price 49,12 CNY
Last Close Price 51,85 CNY
Spread / Highest target 37,1%
Spread / Average Target -5,27%
Spread / Lowest Target -46,1%
EPS Revisions
Managers and Directors
NameTitle
Hui Yu Tian President, CEO & Executive Director
Yuan Liu Chairman-Supervisory Board
Jian Min Miao Chairman
Liang Wang Chief Financial Officer, Executive Director & EVP
Xiao Yuan Hong Non-Executive Director
Sector and Competitors