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Haitong Securities Co., Ltd. (600837.SS)
Key financial summary
Financials in CNY| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | TTM | ||
|---|---|---|---|---|---|---|---|---|
| Total revenue | CNY bn | 24 | 34 | 38 | 42 | 25 | 23 | 16 |
| Operating profit | CNY bn | 4 | - | |||||
| Net profit | CNY bn | 5 | 10 | 11 | 13 | 5 | 1 | -4 |
| EPS reported | CNY | 0.08 | -0.31 | |||||
| Operating cashflow per share | CNY | 0.23 | 0.23 | |||||
| Capex per share | CNY | 0.06 | 0.06 | |||||
| FCF per share | CNY | 0.17 | 0.17 | |||||
| Free cash flow | CNY bn | 2 | 71 | |||||
| Net debt | CNY bn | 51 | 281 | |||||
| Book value equity | CNY bn | 163 | 161 | |||||
| Book value per share | CNY | 12.54 | 12.41 | |||||
| Number of shares | m | 13,022.69 | 12,987.13 | |||||
| DPS (TTM paid) | CNY | 0.21 | 0.13 |
Financial summary
Financials in CNY| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | TTM | ||
|---|---|---|---|---|---|---|---|---|
| Value | ||||||||
| P/E TTM | x | 121.06 | - | |||||
| P/B LTM | x | 0.75 | 0.75 | |||||
| P/S LTM | x | 5.38 | 7.79 | |||||
| P/FCF LTM | x | 54.20 | 1.71 | |||||
| EV/EBITDA LTM | x | -1,730.08 | -105.34 | |||||
| EV/Sales LTM | x | 12.68 | 25.85 | |||||
| Earnings Yield LTM | % | 0.83% | 0.74% | |||||
| FCF Yield | % | 1.85% | 58.65% | |||||
| Quality | ||||||||
| ROE | % | 0.62% | 0.62% | |||||
| ROIC | % | -0.07% | -0.07% | |||||
| Operating margin | % | 19.30% | 19.30% | |||||
| Gross margin | % | 49.58% | 49.58% | |||||
| FCF/Sales | % | 9.93% | 9.93% | |||||
| Growth and momentum | ||||||||
| EPS Growth YoY | % | - | - | |||||
| Sales Growth YoY | % | -9.93% | -46.79% | |||||
| Net Income Growth YoY | % | -80.59% | - | |||||
| FCF Growth | % | -45.90% | - | |||||
| Operating Profit Growth | % | -80.94% | - | |||||
| Dividend and capital structure | ||||||||
| Dividend Yield | % | 10.62% | 1.25% | |||||
| Dividend Growth | % | -30.00% | - | |||||
| Payout Ratio | % | 1284.8% | -301.71% | |||||
| FCF/Debt | x | 0.01 | 0.21 | |||||
| Net Debt/EBITDA | x | -995.97 | -995.97 | |||||
| EBIT/Net interest | x | 0.27 | 0.27 | |||||
| Net debt/market cap | % | 41.98% | 231.71% | |||||
| Net debt/Equity | x | 0.31 | 1.74 | |||||
| Gross debt/equity | x | 1.85 | 2.12 | |||||
Company overview
Haitong Securities Co., Ltd. is a major financial services provider, specializing in securities operations across Mainland China, Hong Kong, and European markets. Its extensive business activities are structured into several key divisions: Wealth Management, Investment Banking, Asset Management, Trading and Institutional Services, Finance Lease, and various Other operations. The Wealth Management division delivers a comprehensive suite of services, including brokerage for securities and futures, investment advisory, and bespoke wealth management solutions. It also provides essential financial facilities like margin lending, securities borrowing, and stock collateralization. Its Investment Banking arm specializes in capital market activities, offering sponsorship and underwriting for both equity and debt issuances. Additionally, it furnishes financial advisory services, notably for mergers and asset restructurings, and supports transactions on the national equities exchange. The Asset Management group is dedicated to providing tailored investment management for a diverse client base—individual, corporate, and institutional—encompassing various products such as general asset management, fund management, and private equity initiatives. The Trading and Institutional Services unit facilitates stock sales and trading, offers prime brokerage, and delivers stock lending along with comprehensive research to financial markets participants. It also acts as a market maker for a range of products, including fixed income, currencies, commodities, futures, options, and other derivatives across multiple exchanges, and invests in various funds and private equity ventures. Within Finance Lease, the company supplies financial solutions such as financing and operating leases, factoring, entrusted loans, and associated consulting. The Other operations segment delivers services like warehouse receipt pledging, pricing mechanisms, and market-making, alongside various risk management offerings. Beyond these core divisions, Haitong Securities also engages in fund trading, distribution, and administration; brokerage for financial and commodity futures contracts; investment guidance and portfolio management; banking; and even ventures into real estate development, property administration, and catering. Established in 1988, the company maintains its headquarters in Shanghai, People's Republic of China.
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For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
Haitong Securities Co., Ltd. (600837.SS)
Haitong Securities Co., Ltd. is a major financial services provider, specializing in securities operations across Mainland China, Hong Kong, and European markets. Its extensive business activities are structured into several key divisions: Wealth Management, Investment Banking, Asset Management, Trading and Institutional Services, Finance Lease, and various Other operations. The Wealth Management division delivers a comprehensive suite of services, including brokerage for securities and futures, investment advisory, and bespoke wealth management solutions. It also provides essential financial facilities like margin lending, securities borrowing, and stock collateralization. Its Investment Banking arm specializes in capital market activities, offering sponsorship and underwriting for both equity and debt issuances. Additionally, it furnishes financial advisory services, notably for mergers and asset restructurings, and supports transactions on the national equities exchange. The Asset Management group is dedicated to providing tailored investment management for a diverse client base—individual, corporate, and institutional—encompassing various products such as general asset management, fund management, and private equity initiatives. The Trading and Institutional Services unit facilitates stock sales and trading, offers prime brokerage, and delivers stock lending along with comprehensive research to financial markets participants. It also acts as a market maker for a range of products, including fixed income, currencies, commodities, futures, options, and other derivatives across multiple exchanges, and invests in various funds and private equity ventures. Within Finance Lease, the company supplies financial solutions such as financing and operating leases, factoring, entrusted loans, and associated consulting. The Other operations segment delivers services like warehouse receipt pledging, pricing mechanisms, and market-making, alongside various risk management offerings. Beyond these core divisions, Haitong Securities also engages in fund trading, distribution, and administration; brokerage for financial and commodity futures contracts; investment guidance and portfolio management; banking; and even ventures into real estate development, property administration, and catering. Established in 1988, the company maintains its headquarters in Shanghai, People's Republic of China.
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