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One of China's four largest state banks, historically strong in infrastructure/housing finance and now full-service nationwide.
One of China's four largest state banks, historically strong in infrastructure/housing finance and now full-service nationwide.
Earns mostly from the spread between interest paid on deposits and charged on loans, with mortgages and lending to infrastructure projects as its distinctive strengths, and smaller fees from wealth products and cards. Central Huijin, a state investment arm, is the largest shareholder. These Hong Kong shares and the Shanghai ones are the same bank.
In one line: China's Wells Fargo, mortgage/infra-lending roots.
Moat: wide (scale, regulatory licence, distribution). State-backed leader in Chinese mortgage and infrastructure lending with a huge deposit base.
Headquarters: Beijing, China · Founded: 1954 · Employees: 378,344
Size CCB (0939.HK) is a Hong Kong Financials company (Major Banks) with a market value of $361B, the 4th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$10.53 on 6 Nov 2026.
Performance Over six months the shares gained 21.6%, against +13.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 6.3% over the last twelve months (peer median +4.0%); the operating margin is 49.3% (peer median 43.2%).
Valuation It trades at 0.64× book value against a peer median of 1.41× (3rd cheapest of 21).
Price implies The share price implies a return on equity of about 5.1%; CCB delivers 9.9%, so the price asks less than the business earns today.
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$1.57T | HK$1.47T | HK$1.53T | HK$1.56T | HK$1.54T |
| Revenue growth | — | -4% | -2% | +1% | — |
| Net income | HK$404B | HK$368B | HK$364B | HK$368B | HK$378B |
| Free cash flow | -HK$243B | -HK$57.0B | HK$498B | HK$385B | HK$848B |
| Capital expenditure | HK$25.8B | HK$25.6B | HK$31.6B | HK$27.7B | HK$27.6B |
| Total debt | HK$14.0T | HK$11.2T | HK$7.93T | HK$7.28T | HK$6.38T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| CCB 0939.HK | $361B | +22% | +6% | 10% | 0.64× | 5.1% |
| ICBC 1398.HK | $433B | +14% | -5% | 9% | 0.60× | 4.9% |
| Agricultural Bank of China 1288.HK | $384B | +15% | +7% | 11% | 0.71× | 5.3% |
| Bank Of China 3988.HK | $309B | +22% | +5% | 9% | 0.60× | 4.7% |
| Wells Fargo WFC | $252B | +11% | +6% | 13% | 1.59× | 13.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0939.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.3% | +2.3% | 2nd highest of 21 |
| 6-month return | +21.6% | +13.5% | 3rd highest of 21 |
| Return on equity | 9.9% | 12.8% | 6th lowest of 21 |
| Price / book | 0.64× | 1.41× | 3rd cheapest of 21 |
| Trailing P/E | 6.7× | 11.5× | cheapest of 21 |
| ROE the price implies | 5.1% | 12.1% | 6th least demanding of 21 |
| ROE delivered | 9.9% | 13.1% | 4th lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| CCB 0939.HK | Hong Kong | $361B | +22% | +6% | 10% | 0.64× | 5.1% | 9.9% |
| China Construction Bank 601939.SS | China | $358B | +20% | -5% | 10% | 0.87× | 3.0% | 9.8% |
| Agricultural Bank of China 601288.SS | China | $375B | +5% | -4% | 11% | 0.88× | 3.0% | n/a |
| Bank of America BAC | United States | $341B | -3% | -1% | 11% | 1.26× | 12.9% | 10.7% |
| Bank Of China 3988.HK | Hong Kong | $309B | +22% | +5% | 9% | 0.60× | 4.7% | 8.9% |
| Industrial and Commercial Bank of China 601398.SS | China | $428B | +13% | -4% | 10% | 0.75× | 2.7% | n/a |
| ICBC 1398.HK | Hong Kong | $433B | +14% | -5% | 9% | 0.60× | 4.9% | n/a |
| HSBC HSBA.L | United Kingdom | $301B | -1% | -4% | 14% | 1.51× | 17.5% | 13.6% |
| Royal Bank of Canada RY.TO | Canada | $281B | +15% | +5% | 16% | 2.94× | 18.4% | 16.2% |
| Wells Fargo WFC | United States | $252B | +11% | +6% | 13% | 1.59× | 13.3% | 12.9% |
| Mitsubishi Ufj Financial 8306.T | Japan | $230B | +14% | +11% | 13% | 1.60× | 11.2% | 12.6% |
| Toronto-Dominion Bank TD.TO | Canada | $208B | +18% | -11% | 13% | 2.48× | 15.3% | 12.8% |
| Citigroup C | United States | $200B | -5% | +5% | 9% | 1.03× | 10.9% | 9.1% |
| Commonwealth Bank of Australia CBA.AX | Australia | $194B | +9% | +1% | 14% | 3.56× | 33.3% | 13.9% |
| Banco Santander SAN.MC | Spain | $174B | +4% | +15% | 13% | 1.40× | 17.1% | 13.1% |
| Cm Bank 3968.HK | Hong Kong | $165B | +16% | +3% | 13% | 0.99× | 10.2% | 13.3% |
| China Merchants Bank 600036.SS | China | $164B | +12% | +9% | 14% | 0.94× | 5.4% | 13.6% |
| DBS D05.SI | Singapore | $155B | +19% | -5% | 16% | 2.83× | 21.4% | 16.3% |
| JPMorgan Chase JPM | United States | $889B | +11% | +9% | 18% | 2.53× | 20.7% | 17.9% |
| Sumitomo Mitsui Financial 8316.T | Japan | $145B | +35% | +11% | 11% | 1.42× | 10.0% | 11.2% |
| Banco Bilbao Vizcaya Argentaria BBVA.MC | Spain | $140B | +20% | +9% | 20% | 2.15× | 24.8% | 19.6% |