Financials China Everbright Bank Company Limited

Equities

601818

CNE100000SL4

Banks

End-of-day quote Shanghai S.E. 03:30:00 29/04/2024 am IST 5-day change 1st Jan Change
3.13 CNY +0.64% Intraday chart for China Everbright Bank Company Limited -0.95% +7.93%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,16,593 1,90,338 1,65,801 1,53,646 1,61,280 1,73,186 - -
Enterprise Value (EV) 1 2,16,593 1,90,338 1,65,801 1,53,646 1,61,280 1,73,186 1,73,186 1,73,186
P/E ratio 7.11 x 6.54 x 5.11 x 4.58 x 4.75 x 4.92 x 4.82 x 4.64 x
Yield 4.85% 5.26% 6.05% 6.19% 5.97% 5.87% 6.21% 6.24%
Capitalization / Revenue 1.63 x 1.34 x 1.09 x 1.01 x 1.11 x 1.21 x 1.17 x 1.13 x
EV / Revenue 1.63 x 1.34 x 1.09 x 1.01 x 1.11 x 1.21 x 1.17 x 1.13 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.6 x 0.62 x 0.47 x 0.41 x 0.38 x 0.37 x 0.35 x 0.33 x
Nbr of stocks (in thousands) 5,24,89,310 5,24,89,339 5,40,31,918 5,40,31,933 5,90,85,551 5,90,85,551 - -
Reference price 2 4.410 3.990 3.320 3.070 2.900 3.110 3.110 3.110
Announcement Date 22/01/20 21/01/21 18/01/22 24/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,32,812 1,42,535 1,52,751 1,51,865 1,45,735 1,42,544 1,47,401 1,52,986
EBITDA - - - - - - - -
EBIT 1 95,194 45,687 52,639 1,06,638 1,01,826 99,918 1,04,814 1,09,868
Operating Margin 71.68% 32.05% 34.46% 70.22% 69.87% 70.1% 71.11% 71.82%
Earnings before Tax (EBT) 1 45,163 45,497 52,941 55,966 49,757 49,812 52,870 52,360
Net income 1 37,354 37,824 43,407 39,996 40,792 38,063 39,670 39,954
Net margin 28.13% 26.54% 28.42% 26.34% 27.99% 26.7% 26.91% 26.12%
EPS 2 0.6200 0.6100 0.6500 0.6700 0.6100 0.6320 0.6451 0.6696
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.2140 0.2100 0.2010 0.1900 0.1730 0.1825 0.1932 0.1940
Announcement Date 22/01/20 21/01/21 18/01/22 24/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q3 2022 Q2 2022 S1 2022 Q3 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1
Net sales 1 72,157 77,038 39,867 39,762 78,531 38,879 73,334 - 41,817 - 35,724 33,480 36,780
EBITDA - - - - - - - - - - - - -
EBIT 1 52,711 57,119 25,647 43,760 58,274 - - - 27,825 - 24,932 20,906 26,628
Operating Margin 73.05% 74.14% 64.33% 110.05% 74.21% - - - 66.54% - 69.79% 62.44% 72.4%
Earnings before Tax (EBT) 1 22,038 - - - - - - - 14,037 - 16,021 4,323 15,248
Net income 1 18,363 - - 11,549 23,299 - - 12,378 11,694 - 13,618 3,102 12,023
Net margin 25.45% - - 29.05% 29.67% - - - 27.96% - 38.12% 9.27% 32.69%
EPS - - - - - 0.1800 - 0.1800 - 0.3600 - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 28/08/20 30/08/21 28/10/21 26/08/22 26/08/22 28/10/22 24/03/23 28/04/23 24/08/23 24/08/23 30/10/23 27/03/24 -
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) 11.8% 10.7% 10.6% 10.3% 8.38% 7.73% 8% 7.41%
ROA (Net income/ Total Assets) 0.82% 0.75% 0.77% 0.66% 0.62% 0.57% 0.57% 0.54%
Assets 1 45,45,388 50,43,200 56,35,077 61,01,602 65,36,656 66,32,655 69,56,977 73,71,666
Book Value Per Share 2 7.330 6.450 6.990 7.460 7.570 8.490 9.000 9.500
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 22/01/20 21/01/21 18/01/22 24/03/23 27/03/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
3.13 CNY
Average target price
3.244 CNY
Spread / Average Target
+3.65%
Consensus
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