Financials Huishang Bank Corporation Limited

Equities

Delayed Hong Kong S.E. Other stock markets 10:02:10 2024-05-05 pm EDT			5-day change	1st Jan Change
2.38 ^HKD	0.00%		0.00%	+0.42%

Apr. 22	Huishang Bank Corporation Limited Announces Resignation of Shao Dehui as A Non-Executive Director, Member of the Strategic Development and Consumer Rights Protection Committee and Member of the Risk Management Committee	CI
Mar. 28	Huishang Bank Logs Nearly 8% Boost in 2023 Profit	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	31,066	25,985	29,539	30,423	29,920	30,626	-	-
Enterprise Value (EV) ¹	31,066	25,985	29,539	30,423	29,920	30,626	30,626	30,626
P/E ratio	3.35 x	2.97 x	2.79 x	2.33 x	2.19 x	1.82 x	1.67 x	-
Yield	6.01%	-	4.2%	-	6.67%	7.79%	8.4%	8.19%
Capitalization / Revenue	1 x	0.8 x	0.83 x	0.84 x	0.82 x	0.76 x	0.71 x	0.64 x
EV / Revenue	1 x	0.8 x	0.83 x	0.84 x	0.82 x	0.76 x	0.71 x	0.64 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.45 x	0.34 x	0.3 x	0.28 x	0.25 x	0.22 x	0.2 x	-
Nbr of stocks (in thousands)	12,154,801	12,154,801	13,889,801	13,889,801	13,889,801	13,889,801	-	-
Reference price ²	2.860	2.540	2.610	2.480	2.370	2.380	2.380	2.380
Announcement Date	3/31/20	3/26/21	3/30/22	3/30/23	3/27/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	31,159	32,290	35,514	36,230	36,365	40,283	42,966	47,672
EBITDA	-	-	-	-	-	-	-	-
EBIT	24,068	24,636	26,830	-	-	-	-	-
Operating Margin	77.24%	76.3%	75.55%	-	-	-	-	-
Earnings before Tax (EBT) ¹	12,301	12,083	13,537	17,315	17,657	22,197	24,077	-
Net income ¹	9,819	9,570	11,460	13,398	14,433	16,765	18,251	-
Net margin	31.51%	29.64%	32.27%	36.98%	39.69%	41.62%	42.48%	-
EPS ²	0.8537	0.8551	0.9371	1.062	1.083	1.306	1.422	-
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1718	-	0.1097	-	0.1580	0.1855	0.2000	0.1950
Announcement Date	3/31/20	3/26/21	3/30/22	3/30/23	3/27/24	-	-	-

¹CNY in Million²HKD

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)	14.6%	12.9%	12.3%	12.8%	12.5%	12.3%	12%	11.3%
ROA (Net income/ Total Assets)	0.92%	0.83%	0.89%	-	-	-	-	-
Assets ¹	1,067,259	1,152,978	1,287,683	-	-	-	-	-
Book Value Per Share ²	6.410	7.450	8.750	9.010	9.580	10.90	12.20	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	3/31/20	3/26/21	3/30/22	3/30/23	3/27/24	-	-	-

¹CNY in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

SELL

Number of Analysts

Last Close Price

2.38 HKD

Average target price

1.93 HKD

Spread / Average Target

-18.89%

	1st Jan change	Capi.
HUISHANG BANK CORPORATION LIMITED	+0.42%	4.23B
AGRICULTURAL BANK OF CHINA LIMITED	+15.61%	208B
PT BANK CENTRAL ASIA TBK	+4.79%	75.63B
ANZ GROUP HOLDINGS LIMITED	+10.73%	56.57B
INDUSTRIAL BANK CO., LTD.	+3.95%	48.37B
CRÉDIT AGRICOLE S.A.	+14.92%	48.14B
CHINA CITIC BANK CO., LTD.	+23.91%	45.13B
JAPAN POST BANK CO., LTD.	+10.41%	37.5B
QATAR NATIONAL BANK (Q.P.S.C.)	-15.00%	35.24B
INVEST BANK	-96.60%	32.24B