Company Valuation: Chongqing Rural Commercial Bank Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 39,720 37,154 42,995 64,486 71,020 75,393 - -
Change - -6.46% 15.72% 49.99% 10.13% 6.16% - -
Enterprise Value (EV) 1,86,607 37,154 42,995 64,486 71,020 75,393 75,393 75,393
Change - -80.09% 15.72% 49.99% 10.13% 6.16% 0% 0%
P/E 2.69x 2.65x 2.93x 4.41x 5.26x 4.85x 4.45x 4.1x
PBR 0.24x 0.24x 0.26x 0.38x 0.46x 0.45x 0.42x 0.39x
PEG - 0.45x 0.52x 0.83x 0.87x 0.49x 0.49x 0.49x
Capitalization / Revenue 1.29x 1.28x 1.54x 2.28x 2.48x 2.46x 2.27x 2.11x
EV / Revenue 0x 0x 0x 0x 0x 2.46x 2.27x 2.11x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 3.81x 3.49x 3.31x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.2525 0.2714 0.2885 0.3046 0.3209 0.3488 0.3798 0.4104
Rate of return 11.2% 11.5% 10.5% 6.97% 5.81% 6.23% 6.79% 7.33%
EPS 2 0.84 0.89 0.94 0.99 1.05 1.153 1.258 1.364
Distribution rate 30.1% 30.5% 30.7% 30.8% 30.6% 30.2% 30.2% 30.1%
Net sales 1 30,842 28,991 27,956 28,261 28,648 30,677 33,156 35,723
EBITDA - - - - - - - -
EBIT 1 11,193 11,609 12,194 12,848 19,223 19,812 21,599 22,803
Net income 1 9,560 10,276 10,902 11,513 11,890 13,042 14,344 15,539
Net Debt 1,46,887 - - - - - - -
Reference price 2 2.257 2.362 2.750 4.370 5.527 5.597 5.597 5.597
Nbr of stocks (in thousands) 1,13,57,000 1,13,57,000 1,13,57,000 1,13,57,000 1,13,57,000 1,13,57,000 - -
Announcement Date 30/03/22 30/03/23 28/03/24 25/03/25 25/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
4.87x - - 6.22% 1.1TCr
14.09x - - 1.77% 95TCr
13.24x - - 1.92% 43TCr
6.29x - - 4.93% 41TCr
12.67x - - 4.12% 35TCr
6.14x - - 5.02% 33TCr
17.57x - - 2.41% 28TCr
6.58x - - 4.88% 29TCr
11.83x - - 2.21% 26TCr
14.75x - - 2.68% 26TCr
Average 10.80x 3.62% 35.76TCr
Weighted average by Cap. 11.74x 3.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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