China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up - Here's Why

Key Points

• Big gap up: China CITIC Bank (OTC: CHCJY) opened at $21.6750 after closing at $18.00, with the last trade at $21.6750 on light volume (399 shares).
• Valuation and technicals: The bank has a market cap of $53.03B, a P/E of 6.63, debt-to-equity of 1.51, and the share price is above both its 50-day ($18.69) and 200-day ($18.45) moving averages.
• Business profile: A subsidiary of CITIC Group, China CITIC Bank is a major Chinese commercial bank offering corporate, retail, treasury and wealth-management services and trades OTC under the symbol CHCJY.

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $18.00, but opened at $21.6750. China CITIC Bank shares last traded at $21.6750, with a volume of 399 shares.

China CITIC Bank Trading Down 0.1%

The firm has a market capitalization of $53.03 billion, a P/E ratio of 6.63 and a beta of 0.46. The stock's 50-day simple moving average is $18.69 and its two-hundred day simple moving average is $18.45. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.82 and a quick ratio of 0.82.

China CITIC Bank Company Profile

China CITIC Bank Co, Ltd., a subsidiary of CITIC Group, is a leading Chinese commercial bank headquartered in Beijing. Established in the late 1980s, the bank was among the first national joint-stock commercial banks approved by the Chinese government. It is quoted on the U.S. OTC Market under the symbol CHCJY.

The bank offers a wide range of financial services, including corporate and institutional banking, retail banking, treasury and financial markets services. Corporate clients can access lending solutions, trade finance, cash management and project financing, while retail customers can choose from deposit accounts, personal loans, credit cards, wealth management and digital banking platforms.

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