Financials Wuxi Rural Commercial Bank Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 16/05/2024 am IST			5-day change	1st Jan Change
5.64 ^CNY	+1.81%		+6.42%	+11.68%

26/04	Wuxi Rural Commercial Bank Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
29/03	Wuxi Rural Commercial Bank Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	10,258	11,238	10,556	9,811	10,863	12,133	-	-
Enterprise Value (EV) ¹	10,258	11,238	10,556	9,811	10,863	12,133	12,133	12,133
P/E ratio	-	-	8.22 x	6.35 x	6.16 x	5.32 x	4.9 x	4.63 x
Yield	-	-	3.17%	3.8%	-	3.9%	4.08%	4.43%
Capitalization / Revenue	2.9 x	2.88 x	2.43 x	2.19 x	2.39 x	2.63 x	2.48 x	2.38 x
EV / Revenue	2.9 x	2.88 x	2.43 x	2.19 x	2.39 x	2.63 x	2.48 x	2.38 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.88 x	0.95 x	0.8 x	0.51 x	0.52 x	0.59 x	0.53 x	0.49 x
Nbr of stocks (in thousands)	18,48,258	18,48,296	18,61,674	18,61,678	21,51,172	21,51,196	-	-
Reference price ²	5.550	6.080	5.670	5.270	5.050	5.640	5.640	5.640
Announcement Date	20/01/20	20/01/21	28/04/22	13/01/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,540	3,896	4,349	4,480	4,538	4,619	4,892	5,095
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	1,462	1,492	1,777	2,239	2,389	3,206	3,375	3,557
Operating Margin	41.3%	38.3%	40.85%	49.97%	52.66%	69.41%	68.99%	69.82%
Earnings before Tax (EBT) ¹	-	-	1,774	2,240	2,387	2,559	2,769	2,944
Net income ¹	-	-	1,580	2,001	2,200	2,361	2,548	2,702
Net margin	-	-	36.33%	44.66%	48.5%	51.12%	52.09%	53.02%
EPS ²	-	-	0.6900	0.8300	0.8200	1.060	1.152	1.218
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	0.1800	0.2000	-	0.2200	0.2300	0.2500
Announcement Date	20/01/20	20/01/21	28/04/22	13/01/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

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)	11.2%	10.9%	11.4%	13%	11.5%	12%	11.7%	11.4%
ROA (Net income/ Total Assets)	0.79%	0.77%	0.85%	0.97%	-	0.96%	0.95%	0.91%
Assets ¹	-	-	1,85,887	2,06,672	-	2,46,820	2,68,232	2,96,896
Book Value Per Share ²	6.290	6.420	7.090	10.40	9.790	9.540	10.60	11.50
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	20/01/20	20/01/21	28/04/22	13/01/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5.64 CNY

Average target price

6.333 CNY

Spread / Average Target

+12.29%

	1st Jan change	Capi.
WUXI RURAL COMMERCIAL BANK CO.,LTD	+11.68%	1.65B
AGRICULTURAL BANK OF CHINA LIMITED	+26.58%	206B
PT BANK CENTRAL ASIA TBK	+2.13%	73.17B
ANZ GROUP HOLDINGS LIMITED	+9.03%	55.56B
CRÉDIT AGRICOLE S.A.	+21.58%	51.41B
INDUSTRIAL BANK CO., LTD.	+7.22%	48.93B
CHINA CITIC BANK CO., LTD.	+36.41%	45.73B
JAPAN POST BANK CO., LTD.	+7.14%	38.09B
QATAR NATIONAL BANK (Q.P.S.C.)	-15.43%	34.96B
INVEST BANK	-96.60%	32.24B