Financials Jiangsu Financial Leasing Co., Ltd.

Equities

600901

CNE100002SX5

Consumer Lending

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-16 pm EDT			5-day change	1st Jan Change
5.44 ^CNY	+1.87%		+3.62%	+12.40%

May. 07	Jiangsu Financial Leasing to Apply for Opening of Joint Venture With French Company	MT
Apr. 27	Jiangsu Financial Leasing Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	18,876	16,456	15,202	16,369	20,545	23,772	-	-
Enterprise Value (EV) ¹	18,876	16,456	15,202	16,369	20,545	23,772	23,772	23,772
P/E ratio	11.9 x	8.75 x	7.6 x	8.56 x	9.88 x	8.12 x	7.5 x	7 x
Yield	-	-	6.88%	6.39%	6.61%	6.16%	6.71%	6.62%
Capitalization / Revenue	6.16 x	4.38 x	3.86 x	3.77 x	4.29 x	4.57 x	4.21 x	3.99 x
EV / Revenue	6.16 x	4.38 x	3.86 x	3.77 x	4.29 x	4.57 x	4.21 x	3.99 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	1.26 x	1.04 x	1.05 x	1.15 x	1.18 x	1.06 x	0.94 x
Nbr of stocks (in thousands)	4,181,310	4,181,310	4,181,310	4,181,803	4,244,928	4,369,842	-	-
Reference price ²	4.514	3.936	3.636	3.914	4.840	5.440	5.440	5.440
Announcement Date	4/29/20	3/4/21	4/21/22	4/21/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,066	3,753	3,941	4,346	4,787	5,201	5,641	5,959
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	-	2,505	2,765	3,219	3,542	4,069	4,431	4,477
Operating Margin	-	66.75%	70.17%	74.06%	74%	78.24%	78.55%	75.13%
Earnings before Tax (EBT) ¹	-	2,503	2,764	3,216	3,543	3,876	4,204	4,477
Net income ¹	-	1,877	2,072	2,412	2,660	2,909	3,156	3,360
Net margin	-	50.01%	52.59%	55.49%	55.57%	55.94%	55.94%	56.38%
EPS ²	0.3786	0.4500	0.4786	0.4571	0.4900	0.6700	0.7250	0.7767
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	0.2500	0.2500	0.3200	0.3350	0.3650	0.3600
Announcement Date	4/29/20	3/4/21	4/21/22	4/21/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q1
Net sales	-
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income ¹	680.1
Net margin	-
EPS ²	0.1286
Dividend per Share	-
Announcement Date	4/22/23

¹CNY in Million²CNY

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)	-	-	15.4%	15.9%	15.8%	15.4%	15.2%	14.6%
ROA (Net income/ Total Assets)	-	-	2.3%	2.32%	-	2.3%	2.33%	2.19%
Assets ¹	-	-	90,107	103,947	-	126,765	135,720	153,409
Book Value Per Share ²	-	3.110	3.480	3.740	4.200	4.610	5.140	5.790
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	4/29/20	3/4/21	4/21/22	4/21/23	4/26/24	-	-	-

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

Ratings for Jiangsu Financial Leasing Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5.44 CNY

Average target price

6.04 CNY

Spread / Average Target

+11.03%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Consumer Leasing

	1st Jan change	Capi.
JIANGSU FINANCIAL LEASING CO., LTD.	+12.40%	3.23B
ALLY FINANCIAL INC.	+14.89%	12.27B
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FIVE-STAR BUSINESS FINANCE LIMITED	+0.59%	2.6B
UPSTART HOLDINGS, INC.	-37.81%	2.25B
AEON THANA SINSAP (THAILAND)	+0.94%	1.09B
HAITONG UNITRUST INTERNATIONAL FINANCIAL LEASING CO., LTD.	+2.44%	865M
LATITUDE GROUP HOLDINGS LIMITED	-0.86%	798M
ESCAR FILO KIRALAMA HIZMETLERI	+97.94%	522M
DIRECT FINANCE OF DIRECT GROUP (2006)LTD	+23.78%	413M

Consumer Leasing