The 2013 All-China Research Team: Banks, First: Junhua Mao

Junhua Mao
China International Capital Corp.

First-place appearances: 1

Total appearances: 4

Analyst debut: 2010

After a year in third place followed by two years in second, Junhua Mao of China International Capital Corp. seizes the top spot. The 36-year-old analyst has a “deep understanding of the banking industry and policy moves,” one money manager insists, “and provides the best corporate access.” Mao is neutral on China’s banking sector overall, with one exception. “We like midsize banks that have market-oriented corporate governance and unique positioning in underserved markets,” he says, “such as China Minsheng Banking Corp.” He advised investors to buy shares of the Beijing-based commercial banking institution in September 2012, crediting its leading position in the financing of micro and small enterprises, as well as its low price-to-book ratio. These attributes would “provide a buffer for its business execution amid macro uncertainties,” Mao believed. The stock soared 62.6 percent through October 2013, to 8.96 yuan, outdistancing the sector by 36.6 percentage points. Mao earned bachelor’s and master’s degrees in finance from Tsinghua University in Beijing, then joined CICC in 2003. — Katie Gilbert