Upcoming Dividend • May 20
Upcoming dividend of HK$0.02 per share Eligible shareholders must have bought the stock before 27 May 2026. Payment date: 16 June 2026. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Hong Kong dividend payers (6.8%). In line with average of industry peers (3.2%). Live News • May 13
Guotai Junan International Leads US$100 Million Bond Tap for State Bank of Mongolia Guotai Junan International acted as sole global coordinator for a US$100 million Reg S bond tap issuance for the State Bank of Mongolia.
The tap increases the outstanding bond size to US$300 million, with the deal positioned as reflecting international investor confidence in Mongolia’s economic prospects.
The transaction highlights GTJAI’s role in cross market financing and access to global investor resources for emerging market clients.
This latest mandate underlines GTJAI’s ability to secure and execute cross border debt deals, which can reinforce its franchise with both issuers and international fixed income investors.
Investors may want to watch how consistently the company wins similar roles across regions, since the depth and repeat nature of these mandates can influence its investment banking fee profile and client relationships. New Risk • Apr 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to HK$3.09, the stock trades at a trailing P/E ratio of 21.9x. Average forward P/E is 7x in the Capital Markets industry in Hong Kong. Total returns to shareholders of 399% over the past three years. Declared Dividend • Mar 27
Final dividend of HK$0.02 announced Shareholders will receive a dividend of HK$0.02. Ex-date: 27th May 2026 Payment date: 16th June 2026 Dividend yield will be 2.9%, which is lower than the industry average of 4.2%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 38% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.5% EPS decline seen over the last 5 years. Reported Earnings • Mar 26
Full year 2025 earnings released: EPS: HK$0.14 (vs HK$0.036 in FY 2024) Full year 2025 results: EPS: HK$0.14 (up from HK$0.036 in FY 2024). Revenue: HK$3.84b (up 77% from FY 2024). Net income: HK$1.35b (up 287% from FY 2024). Profit margin: 35% (up from 16% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Announcement • Mar 26
Guotai Junan International Holdings Limited Recommends Final Dividend for the Year Ended 31 December 2025 The Board of Guotai Junan International Holdings Limited recommended a final dividend of HKD 0.02 per share for the year ended 31 December 2025, together with the paid interim dividend of HKD 0.05 per share, the total dividends for the year amounting to HKD 0.07 per share, representing a payout ratio of 50% and dividend per share increasing by 119%. Announcement • Mar 25
Guotai Junan International Holdings Limited, Annual General Meeting, May 22, 2026 Guotai Junan International Holdings Limited, Annual General Meeting, May 22, 2026. Announcement • Mar 12
Guotai Junan International Holdings Limited to Report Fiscal Year 2025 Results on Mar 25, 2026 Guotai Junan International Holdings Limited announced that they will report fiscal year 2025 results on Mar 25, 2026 Announcement • Jan 28
Guotai Junan International Holdings Limited Provides Earnings Guidance for the Year Ended 31 December 2025 Guotai Junan International Holdings Limited provided earnings guidance for the year ended 31 December 2025. For the year, the group expected the net profit to be in the region of HKD 1,280 million and HKD 1,380 million, representing a substantial surge of 265% to 293% from the net profit of approximately HKD 351 million recorded in 2024. The expected increase is mainly driven by the significant across-the-board revenue growth in the Group's core businesses, including corporate finance, wealth management, asset management and trading and investment business, with particular outstanding performance in the equity capital markets and brokerage businesses. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$3.20, the stock trades at a trailing P/E ratio of 43.4x. Average forward P/E is 11x in the Capital Markets industry in Hong Kong. Total returns to shareholders of 486% over the past three years. New Risk • Oct 14
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 95% Dividend yield: 2.4% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 39% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (95% payout ratio). Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$4.25, the stock trades at a trailing P/E ratio of 57.6x. Average forward P/E is 11x in the Capital Markets industry in Hong Kong. Total returns to shareholders of 678% over the past three years. Announcement • Aug 29
Guotai Junan International Holdings Limited Declares Interim Dividend for the Six Months Ended 30 June 2025 The Board of Guotai Junan International Holdings Limited declared an interim dividend of HKD 0.05 per for the six months ended 30 June 2025 (payout ratio: 87%). Reported Earnings • Aug 29
First half 2025 earnings released: EPS: HK$0.058 (vs HK$0.02 in 1H 2024) First half 2025 results: EPS: HK$0.058 (up from HK$0.02 in 1H 2024). Revenue: HK$1.64b (up 50% from 1H 2024). Net income: HK$550.1m (up 182% from 1H 2024). Profit margin: 34% (up from 18% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 15
Guotai Junan International Holdings Limited to Report First Half, 2025 Results on Aug 27, 2025 Guotai Junan International Holdings Limited announced that they will report first half, 2025 results on Aug 27, 2025 Announcement • Jul 10
Guotai Junan International Holdings Limited Provides Earnings Guidance for the Six Months Ended 30 June 2025 Guotai Junan International Holdings Limited provided earnings guidance for the six months ended 30 June 2025. The net profit of the Group for the six months ended 30 June 2025 is expected to be in the region of HKD 515 million and HKD 595 million, representing a sharp increase in between 161% and 202% as compared with the net profit of approximately HKD 197 million for the six months ended 30 June 2024. The expected increase is mainly due to the significant increase in the Group's income from core businesses, including wealth management, corporate finance, asset management and trading and investment business. New Risk • Jun 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 57% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (57% average weekly change). Earnings have declined by 39% per year over the past 5 years. Upcoming Dividend • May 21
Upcoming dividend of HK$0.02 per share Eligible shareholders must have bought the stock before 28 May 2025. Payment date: 17 June 2025. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (2.9%). Reported Earnings • May 04
Full year 2024 earnings released: EPS: HK$0.036 (vs HK$0.021 in FY 2023) Full year 2024 results: EPS: HK$0.036 (up from HK$0.021 in FY 2023). Revenue: HK$2.17b (up 16% from FY 2023). Net income: HK$347.8m (up 73% from FY 2023). Profit margin: 16% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Mar 27
Full year 2024 earnings released: EPS: HK$0.036 (vs HK$0.021 in FY 2023) Full year 2024 results: EPS: HK$0.036 (up from HK$0.021 in FY 2023). Revenue: HK$2.00b (up 6.8% from FY 2023). Net income: HK$347.8m (up 73% from FY 2023). Profit margin: 17% (up from 11% in FY 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Mar 26
Guotai Junan International Holdings Limited, Annual General Meeting, May 22, 2025 Guotai Junan International Holdings Limited, Annual General Meeting, May 22, 2025. Announcement • Mar 13
Guotai Junan International Holdings Limited to Report Fiscal Year 2024 Results on Mar 26, 2025 Guotai Junan International Holdings Limited announced that they will report fiscal year 2024 results on Mar 26, 2025 Announcement • Jan 21
Guotai Junan International Holdings Limited Provides Group Earnings Guidance for the Year Ended 31 December 2024 Guotai Junan International Holdings Limited provided group earnings guidance for the year ended 31 December 2024. For the year, the group net profit is expected to be in the region of HKD 330 million and HKD 360 million, representing a significant increase between 60% and 75% as compared to the last year (2023: approximately HKD 206 million). The expected increase is mainly due to the significant increase in the Group's income from core businesses, including corporate finance, wealth management, financial products and asset management, as well as the strong performance of the investment business. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$1.33, the stock trades at a trailing P/E ratio of 45.8x. Average forward P/E is 11x in the Capital Markets industry in Hong Kong. Total returns to shareholders of 32% over the past three years. Announcement • Nov 01
Guotai Junan International Holdings Limited Announces Chief Financial Officer Changes, Effective from 5 November 2024 The board of directors of Guotai Junan International Holdings Limited announced that due to the Group's business arrangements, Mr. AO Qishun will resign as the chief financial officer of the Group. The Board also announced that Mr. ZHANG Xueming has been appointed as the Chief Financial Officer. Both of the changes take effect from 5 November 2024. Mr. ZHANG Xueming, aged 53, joined Guotai Junan Securities Co. Ltd., in 1999 and served as a general planning manager of the planning and finance department, and held various important positions such as the chief financial officer, a general manager of the planning and finance department, a deputy finance manager and a general manager of treasury department in Guotai Junan Futures Co., Limited, a fellow subsidiary of the Company, respectively. Mr. ZHANG has over 30 years of experience in accounting and finance. Mr. ZHANG obtained a bachelor's degree in economics with major in international accounting from the Renmin University of China, and has the qualification of accountant issued by the Ministry of Finance of the People's Republic of China. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to HK$1.81, the stock trades at a trailing P/E ratio of 62.4x. Average forward P/E is 14x in the Capital Markets industry in Hong Kong. Total returns to shareholders of 66% over the past three years. New Risk • Sep 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 34% per year over the past 5 years. High level of non-cash earnings (122% accrual ratio). Reported Earnings • Sep 27
First half 2024 earnings released: EPS: HK$0.02 (vs HK$0.012 in 1H 2023) First half 2024 results: EPS: HK$0.02 (up from HK$0.012 in 1H 2023). Revenue: HK$1.09b (up 16% from 1H 2023). Net income: HK$194.9m (up 63% from 1H 2023). Profit margin: 18% (up from 13% in 1H 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 29
First half 2024 earnings released: EPS: HK$0.02 (vs HK$0.012 in 1H 2023) First half 2024 results: EPS: HK$0.02 (up from HK$0.012 in 1H 2023). Revenue: HK$1.07b (up 16% from 1H 2023). Net income: HK$194.9m (up 63% from 1H 2023). Profit margin: 18% (up from 13% in 1H 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Aug 27
Guotai Junan International Holdings Limited Announces Interim Ordinary Dividend for the Period Ended June 30, 2024, Payable on 30 September 2024 Guotai Junan International Holdings Limited announced interim ordinary dividend of HKD 0.012 per share for the period ended June 30, 2024. Ex-dividend date is 11 September 2024, Record date is 13 September 2024, Payment date is 30 September 2024. Announcement • Aug 15
Guotai Junan International Holdings Limited to Report First Half, 2024 Results on Aug 27, 2024 Guotai Junan International Holdings Limited announced that they will report first half, 2024 results on Aug 27, 2024 Board Change • Jul 11
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Wilson Liu was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 25
Guotai Junan International Holdings Limited Announces Resignation of YU Jian as a Non-Executive Director and Cessation as Member of the Nomination Committee The board of directors of Guotai Junan International Holdings Limited announced that, with effect from 24 May 2024, Mr. YU Jian has resigned as a non-executive director of the Company due to retirement. At the same time, Mr. YU has also ceased to be a member of the Nomination Committee of the Company. Mr. YU has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation as a non-executive director of the Company that need to be brought to the attention of the shareholders of the Company. Upcoming Dividend • May 21
Upcoming dividend of HK$0.01 per share Eligible shareholders must have bought the stock before 28 May 2024. Payment date: 17 June 2024. Payout ratio is on the higher end at 95% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Hong Kong dividend payers (7.4%). In line with average of industry peers (3.4%). Announcement • May 11
Guotai Junan International Holdings Limited Announces Retirement of HU Xupeng as Non-Executive Director and Member of Risk Committee The board of directors of Guotai Junan International Holdings Limited has been notified by Dr. HU Xupeng (Dr. HU) that, due to work arrangement of the group, he will not offer himself for re-election at the AGM. As such, he will retire from office as a non-executive director of the Company with effect from the conclusion of the AGM. He will also cease to be a member of risk committee of the Company upon his retirement. Consequently, the ordinary resolution numbered 3(ii) in respect of Dr. HU's re-election as a non-executive director of the Company as set out in the AGM Notice and the Proxy Form, respectively, is no longer applicable and will not be put forward for consideration and approval by the shareholders of the Company at the AGM. Announcement • Mar 27
Guotai Junan International Holdings Limited, Annual General Meeting, May 22, 2024 Guotai Junan International Holdings Limited, Annual General Meeting, May 22, 2024. Agenda: To consider final dividend. New Risk • Mar 27
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 9.3% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.3% operating cash flow to total debt). Earnings have declined by 25% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Mar 26
Guotai Junan International Holdings Limited Proposes Cash Dividend for the Financial Year Ended 31 December 2023, Payable 17 June 2024 Guotai Junan International Holdings Limited proposed cash dividend of HKD 0.01 per share for the financial year ended 31 December 2023. Ex-dividend date is 28 May 2024. Record date is 30 May 2024. Payment date is 17 June 2024. Date of shareholders' approval is 22 May 2024. Announcement • Mar 18
Guotai Junan International Holdings Limited(SEHK:1788) dropped from FTSE All-World Index (USD) Guotai Junan International Holdings Limited(SEHK:1788) dropped from FTSE All-World Index (USD) Announcement • Mar 13
Guotai Junan International Holdings Limited to Report Fiscal Year 2023 Final Results on Mar 26, 2024 Guotai Junan International Holdings Limited announced that they will report fiscal year 2023 final results on Mar 26, 2024 Announcement • Jan 23
Guotai Junan International Holdings Limited Provides Earnings Guidance for the Year Ended 31 December 2023 Guotai Junan International Holdings Limited provided earnings guidance for the year ended 31 December 2023. For the year, the company expects net profit of the Group to be in the region of HKD 180 million and HKD 220 million, representing a sharp increase in between 117% and 165% as compared with the net profit of approximately HKD 83 million in 2022. Such expected increase was mainly attributable to the significant increase in the Group's income from financial products and securities underwriting businesses as well as interest income from banks, and the high-quality development of wealth management business. Announcement • Dec 11
Guotai Junan International Holdings Limited Announces Board Changes, Effective 31 December 2023 The board of directors of Guotai Junan International Holdings Limited announced the following changes in the members of the board and the board committees of the company, which will take effect from 31 December 2023: Mr. TSANG Yiu Keung has tendered his resignation as an independent non-executive director of the company in order to pursue his other personal commitments, which will take effect from 31 December 2023. Mr. TSANG has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation as an independent non-executive director of the company that need to be brought to the attention of the shareholders of the company. Upon the date of Mr. TSANG's resignation, he will also cease to be the chairman of the audit committee and a member of the nomination committee, the remuneration committee and the risk committee of the company. The board has resolved that Mr. LIU Chung Mun, an independent non-executive director of the company, will be re-designated as the chairman, from a member, of the audit committee of the company, and he will be appointed as a member of the nomination committee of the company, both with effect from 31 December 2023. Price Target Changed • Oct 26
Price target increased by 7.5% to HK$1.26 Up from HK$1.18, the current price target is an average from 3 analysts. New target price is 104% above last closing price of HK$0.62. Stock is up 6.9% over the past year. The company posted earnings per share of HK$0.0084 last year. Announcement • Oct 11
Guotai Junan International Holdings Limited Appoints Liu Chung Mun as Independent Non-Executive Director and as A Member of Audit Committee of the Board Guotai Junan International Holdings Limited at its EGM held on 10 October 2023, considered and approved the appointment of Mr. LIU Chung Mun (Mr. LIU) as an independent non-executive Director. Reference is made to the announcement of the Company dated 25 August 2023, the Board announces that at the same time when Mr. LIU is appointed as an independent non-executive Director at the EGM, he is also appointed by the Board as a member of the Audit Committee of the Board with immediate effect. New Risk • Sep 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 53% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 16% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (248% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.4% net profit margin). Upcoming Dividend • Sep 01
Upcoming dividend of HK$0.01 per share at 3.1% yield Eligible shareholders must have bought the stock before 08 September 2023. Payment date: 27 September 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.1%. Lower than top quartile of Hong Kong dividend payers (7.7%). In line with average of industry peers (3.2%). Reported Earnings • Aug 26
First half 2023 earnings released: EPS: HK$0.012 (vs HK$0.017 in 1H 2022) First half 2023 results: EPS: HK$0.012 (down from HK$0.017 in 1H 2022). Revenue: HK$899.5m (up 2.1% from 1H 2022). Net income: HK$119.4m (down 26% from 1H 2022). Profit margin: 13% (down from 18% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Capital Markets industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Announcement • Aug 26
Guotai Junan International Holdings Limited Announces Interim Dividend, Payable on 27 September 2023 Guotai Junan International Holdings Limited announces Interim dividend of HKD 0.01 per share, payable on 27 September 2023. Ex-dividend date 08 September 2023 and Record date 12 September 2023. Announcement • Aug 15
Guotai Junan International Holdings Limited to Report First Half, 2023 Results on Aug 25, 2023 Guotai Junan International Holdings Limited announced that they will report first half, 2023 results on Aug 25, 2023 Buying Opportunity • Jun 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.1%. The fair value is estimated to be HK$0.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 34%. Buying Opportunity • May 25
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 10.0%. The fair value is estimated to be HK$0.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 34%. Announcement • May 23
Guotai Junan International Holdings Limited Approves Final Special Dividend for the Year Ended 31 December 2022 Guotai Junan International Holdings Limited announced At the annual general meeting held on 22 May 2023 approved to declare a final special dividend of HKD 0.010 per Share for the year ended 31 December 2022. Upcoming Dividend • May 18
Upcoming dividend of HK$0.01 per share Eligible shareholders must have bought the stock before 25 May 2023. Payment date: 16 June 2023. The company last paid an ordinary dividend in August 2012. The average dividend yield among industry peers is 3.1%. Price Target Changed • Apr 28
Price target decreased by 9.3% to HK$1.18 Down from HK$1.30, the current price target is an average from 4 analysts. New target price is 78% above last closing price of HK$0.66. Stock is down 23% over the past year. The company posted earnings per share of HK$0.0084 last year. Price Target Changed • Mar 29
Price target decreased by 11% to HK$1.18 Down from HK$1.32, the current price target is an average from 3 analysts. New target price is 81% above last closing price of HK$0.65. Stock is down 29% over the past year. The company posted earnings per share of HK$0.0084 last year. Reported Earnings • Mar 28
Full year 2022 earnings released: EPS: HK$0.008 (vs HK$0.11 in FY 2021) Full year 2022 results: EPS: HK$0.008 (down from HK$0.11 in FY 2021). Revenue: HK$1.64b (down 49% from FY 2021). Net income: HK$80.4m (down 93% from FY 2021). Profit margin: 4.9% (down from 34% in FY 2021). Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Capital Markets industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Feb 08
Guotai Junan International Holdings Limited Provides Earning Guidance for the Year Ended 31 December 2022 Guotai Junan International Holdings Limited provided earning Guidance for the year ended 31 December 2022. The board of directors of Guotai Junan International Holdings Limited informed the shareholders of the Company and potential investors that despite certain adverse factors, including tightening of global monetary policies, geopolitics and the COVID-19 pandemic, which led to a decline in the performance of the Group's market making and investment, brokerage, corporate finance, etc., the Group achieved a profit during the year. Based on the preliminary review of the management accounts of the Group for the year ended 31 December 2022, the Board expected that the Group would record a revenue of not less than HKD 2.20 billion (2021: approximately HKD 3.96 billion) and a net profit after tax of between HKD 70 million and HKD 90 million (2021: approximately HKD 1.10 billion) for the year. Price Target Changed • Nov 16
Price target decreased to HK$1.32 Down from HK$1.59, the current price target is an average from 4 analysts. New target price is 93% above last closing price of HK$0.68. Stock is down 39% over the past year. The company is forecast to post earnings per share of HK$0.08 for next year compared to HK$0.11 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Ceajer Chan was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Oct 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 36%. The fair value is estimated to be HK$0.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has declined by 7.0%. Revenue is forecast to grow by 76% in 2 years. Earnings is forecast to grow by 152% in the next 2 years. Buying Opportunity • Sep 28
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 35%. The fair value is estimated to be HK$0.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has declined by 7.0%. Revenue is forecast to grow by 76% in 2 years. Earnings is forecast to grow by 152% in the next 2 years. Major Estimate Revision • Sep 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from HK$3.86b to HK$2.65b. EPS estimate unchanged from HK$0.08 per share at last update. Capital Markets industry in Hong Kong expected to see average net income growth of 9.9% next year. Consensus price target down from HK$1.59 to HK$1.32. Share price fell 2.5% to HK$0.79 over the past week. Upcoming Dividend • Aug 31
Upcoming dividend of HK$0.04 per share Eligible shareholders must have bought the stock before 07 September 2022. Payment date: 26 September 2022. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Hong Kong dividend payers (8.2%). Lower than average of industry peers (4.2%). Reported Earnings • Aug 26
First half 2022 earnings released: EPS: HK$0.017 (vs HK$0.098 in 1H 2021) First half 2022 results: EPS: HK$0.017 (down from HK$0.098 in 1H 2021). Revenue: HK$879.5m (down 58% from 1H 2021). Net income: HK$161.3m (down 83% from 1H 2021). Profit margin: 18% (down from 45% in 1H 2021). Over the next year, revenue is forecast to grow 114%, compared to a 16% growth forecast for the Capital Markets industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Price Target Changed • Aug 15
Price target increased to HK$1.59 Up from HK$1.45, the current price target is an average from 3 analysts. New target price is 101% above last closing price of HK$0.79. Stock is down 38% over the past year. The company is forecast to post earnings per share of HK$0.13 for next year compared to HK$0.11 last year. Major Estimate Revision • Jul 29
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from HK$4.34b to HK$3.86b. EPS estimate unchanged from HK$0.13 per share at last update. Capital Markets industry in Hong Kong expected to see average net income growth of 11% next year. Consensus price target down from HK$1.45 to HK$1.38. Share price fell 8.1% to HK$0.79 over the past week. Price Target Changed • Jul 28
Price target decreased to HK$1.38 Down from HK$1.52, the current price target is an average from 3 analysts. New target price is 71% above last closing price of HK$0.81. Stock is down 31% over the past year. The company is forecast to post earnings per share of HK$0.13 for next year compared to HK$0.11 last year. Upcoming Dividend • May 26
Upcoming dividend of HK$0.01 per share Eligible shareholders must have bought the stock before 02 June 2022. Payment date: 24 June 2022. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 7.0%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (4.4%). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Ceajer Chan was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 29
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: HK$3.00b (down 20% from FY 2020). Net income: HK$1.09b (down 30% from FY 2020). Profit margin: 37% (down from 42% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 72%, compared to a 11% growth forecast for the industry in Hong Kong. Price Target Changed • Mar 16
Price target decreased to HK$1.64 Down from HK$1.78, the current price target is an average from 4 analysts. New target price is 80% above last closing price of HK$0.91. Stock is down 33% over the past year. The company is forecast to post earnings per share of HK$0.20 for next year compared to HK$0.17 last year. Board Change • Feb 24
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Ceajer Chan was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 27
Upcoming dividend of HK$0.05 per share Eligible shareholders must have bought the stock before 03 September 2021. Payment date: 23 September 2021. Trailing yield: 7.2%. Within top quartile of Hong Kong dividend payers (6.6%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 25
First half 2021 earnings released: EPS HK$0.098 (vs HK$0.068 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: HK$2.08b (up 54% from 1H 2020). Net income: HK$937.6m (up 55% from 1H 2020). Profit margin: 45% (in line with 1H 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. 