Financials Jiangsu Changshu Rural Commercial Bank Co., Ltd.

Equities

601128

CNE100002RJ6

Banks

End-of-day quote Shanghai S.E. 23:00:00 14/05/2024 BST 5-day change 1st Jan Change
8.67 CNY +2.48% Intraday chart for Jiangsu Changshu Rural Commercial Bank Co., Ltd. +6.64% +35.68%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 24,969 20,228 18,117 20,693 17,514 23,763 - -
Enterprise Value (EV) 1 24,969 20,228 18,117 20,693 17,514 23,763 23,763 23,763
P/E ratio 13.2 x 11.2 x 8.26 x 7.55 x 5.33 x 6.18 x 5.33 x 4.54 x
Yield 2.2% 2.71% 3.03% 3.31% 3.91% 3.46% 4.04% 4.73%
Capitalization / Revenue 3.87 x 3.07 x 2.37 x 2.35 x 1.77 x 2.17 x 1.95 x 1.73 x
EV / Revenue 3.87 x 3.07 x 2.37 x 2.35 x 1.77 x 2.17 x 1.95 x 1.73 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.47 x 1.13 x 0.92 x 0.92 x 0.69 x 0.85 x 0.75 x 0.65 x
Nbr of stocks (in thousands) 2,740,856 2,740,856 2,740,856 2,740,856 2,740,883 2,740,884 - -
Reference price 2 9.110 7.380 6.610 7.550 6.390 8.670 8.670 8.670
Announcement Date 10/01/20 25/01/21 11/01/22 13/01/23 04/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 6,453 6,582 7,653 8,808 9,870 10,936 12,191 13,749
EBITDA - - - - - - - -
EBIT 1 3,940 2,231 2,705 3,372 4,053 6,596 7,503 8,663
Operating Margin 61.06% 33.9% 35.35% 38.28% 41.06% 60.32% 61.54% 63.01%
Earnings before Tax (EBT) 1 - 2,246 2,696 3,372 4,047 4,755 5,504 6,448
Net income 1 1,793 1,803 2,184 2,744 3,282 3,852 4,493 5,327
Net margin 27.79% 27.39% 28.54% 31.15% 33.25% 35.23% 36.85% 38.74%
EPS 2 0.6900 0.6600 0.8000 1.000 1.200 1.402 1.626 1.909
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.2000 0.2000 0.2000 0.2500 0.2500 0.3003 0.3504 0.4101
Announcement Date 10/01/20 25/01/21 11/01/22 13/01/23 04/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2022 Q2 2022 S1 2022 Q3 2023 Q1 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 3,417 3,680 2,246 - 2,308 2,410 4,914 4,956 5,276 5,637 5,970 6,324
EBITDA - - - - - - - - - - - -
EBIT - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - -
Earnings before Tax (EBT) 1 - 1,278 668.9 1,522 1,091 1,018 - - - - - -
Net income 1 - 1,001 541.4 1,201 878.9 794.9 1,450 - - - - -
Net margin - 27.2% 24.1% - 38.08% 32.98% 29.51% - - - - -
EPS - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - -
Announcement Date 21/08/20 16/08/21 15/08/22 15/08/22 27/10/22 20/04/23 14/08/23 04/03/24 - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 11.5% 10.4% 11.6% 13.1% 13.7% 14.5% 15% 15.8%
ROA (Net income/ Total Assets) 1.08% 0.92% 1.03% 1.1% - 1.11% 1.12% 1.17%
Assets 1 166,019 196,834 212,039 249,455 - 348,184 399,370 456,902
Book Value Per Share 2 6.180 6.540 7.220 8.240 9.250 10.20 11.60 13.30
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 10/01/20 25/01/21 11/01/22 13/01/23 04/03/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
17
Last Close Price
8.67 CNY
Average target price
9.431 CNY
Spread / Average Target
+8.78%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. 601128 Stock
  4. Financials Jiangsu Changshu Rural Commercial Bank Co., Ltd.