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One of China's 'big four' state banks, historically strong in housing/infrastructure lending alongside full retail/corporate banking.
One of China's 'big four' state banks, historically strong in housing/infrastructure lending alongside full retail/corporate banking.
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. Central Huijin, a state investment arm, is the largest shareholder. These Shanghai shares and the Hong Kong ones are the same bank.
In one line: China's Wells Fargo, with a housing-finance legacy.
Moat: wide (scale, regulatory licence, distribution). Big-four state bank scale with a historic lead in mortgage and infrastructure lending.
Headquarters: Beijing, China · Founded: 1954 · Employees: 378,344
Size China Construction Bank (601939.SS) is a China Financials company (Major Banks) with a market value of $358B, the 4th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.91 on 6 Nov 2026.
Performance Over six months the shares gained 19.7%, against +13.5% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue fell 4.5% over the last twelve months (peer median +4.7%); the operating margin is 49.2% (peer median 43.2%).
Valuation It trades at 0.87× book value against a peer median of 1.41× (5th cheapest of 21).
Price implies The share price implies a return on equity of about 3.0%; China Construction Bank delivers 9.8%, so the price asks less than the business earns today.
Credit China Construction Bank has 5 bonds outstanding ($4.83B), rated BBB+ by the agencies.
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.36T | CN¥1.36T | CN¥1.41T | CN¥1.42T | CN¥1.34T |
| Revenue growth | — | -3% | -1% | +6% | — |
| Net income | CN¥346B | CN¥339B | CN¥336B | CN¥333B | CN¥325B |
| Free cash flow | -CN¥2.39T | -CN¥2.37T | -CN¥2.93T | CN¥561B | CN¥901B |
| Capital expenditure | CN¥27.1B | CN¥23.6B | CN¥29.2B | CN¥25.1B | CN¥23.8B |
| Total debt | CN¥8.94T | CN¥10.1T | CN¥7.45T | CN¥6.61T | CN¥5.69T |
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 |
|---|---|---|---|---|---|---|
| China Construction Bank 601939.SS | $358B | +20% | -5% | 10% | 0.87× | 3.0% |
| Industrial and Commercial Bank of China 601398.SS | $428B | +13% | -4% | 10% | 0.75× | 2.7% |
| Agricultural Bank of China 601288.SS | $375B | +5% | -4% | 11% | 0.88× | 3.0% |
| Bank of China 601988.SS | $301B | +19% | -3% | 9% | 0.79× | 2.8% |
| 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 | 601939.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.8% | +2.3% | 3rd highest of 21 |
| 6-month return | +19.7% | +13.5% | 5th highest of 21 |
| Return on equity | 9.8% | 12.8% | 5th lowest of 21 |
| Price / book | 0.87× | 1.41× | 5th cheapest of 21 |
| Trailing P/E | 8.9× | 11.5× | 7th cheapest of 21 |
| ROE the price implies | 3.0% | 12.1% | 2nd least demanding of 21 |
| ROE delivered | 9.8% | 13.1% | 3rd lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| China Construction Bank 601939.SS | China | $358B | +20% | -5% | 10% | 0.87× | 3.0% | 9.8% |
| CCB 0939.HK | Hong Kong | $361B | +22% | +6% | 10% | 0.64× | 5.1% | 9.9% |
| 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% |
| HSBC HSBA.L | United Kingdom | $301B | -1% | -4% | 14% | 1.51× | 17.5% | 13.6% |
| 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 |
| 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% |
| Sumitomo Mitsui Financial 8316.T | Japan | $145B | +35% | +11% | 11% | 1.42× | 10.0% | 11.2% |
| JPMorgan Chase JPM | United States | $889B | +11% | +9% | 18% | 2.53× | 20.7% | 17.9% |
| Banco Bilbao Vizcaya Argentaria BBVA.MC | Spain | $140B | +20% | +9% | 20% | 2.15× | 24.8% | 19.6% |
China Construction Bank has 5 bonds outstanding with $4.83B face value. The agencies rate it BBB+.