Financials Jiangsu Jiangyin Rural Commercial Bank Co.,LTD.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-08 pm EDT			5-day change	1st Jan Change
3.92 ^CNY	+0.77%		-0.25%	+10.42%

Apr. 30	Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. Approves 2023 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on 10 May 2024	CI
Apr. 26	Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. Approves Cash Dividend for the Year 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	10,121	9,296	8,362	8,623	7,711	9,649	-	-
Enterprise Value (EV) ¹	10,121	9,296	8,362	8,623	7,711	9,649	9,649	9,649
P/E ratio	10.6 x	-	-	5.34 x	4.71 x	4.56 x	3.92 x	3.7 x
Yield	-	4.21%	4.68%	4.53%	5.35%	5.23%	5.87%	6.63%
Capitalization / Revenue	2.97 x	2.77 x	2.48 x	2.28 x	2 x	2.42 x	2.26 x	2.2 x
EV / Revenue	2.97 x	2.77 x	2.48 x	2.28 x	2 x	2.42 x	2.26 x	2.2 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	0.77 x	0.64 x	0.6 x	0.49 x	0.55 x	0.48 x	0.45 x
Nbr of stocks (in thousands)	2,171,980	2,172,001	2,172,009	2,172,051	2,172,053	2,461,393	-	-
Reference price ²	4.660	4.280	3.850	3.970	3.550	3.920	3.920	3.920
Announcement Date	3/30/20	1/20/21	1/18/22	1/17/23	3/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,404	3,351	3,367	3,780	3,865	3,994	4,262	4,386
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	-	1,117	1,346	1,689	1,846	2,986	3,114	3,311
Operating Margin	-	33.33%	39.98%	44.69%	47.77%	74.76%	73.07%	75.5%
Earnings before Tax (EBT) ¹	-	-	-	1,675	2,075	2,310	2,521	2,756
Net income ¹	-	-	-	1,616	1,888	2,126	2,379	2,609
Net margin	-	-	-	42.75%	48.85%	53.21%	55.82%	59.48%
EPS ²	0.4396	-	-	0.7440	0.7535	0.8600	1.000	1.060
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	0.1800	0.1800	0.1800	0.1900	0.2050	0.2300	0.2600
Announcement Date	3/30/20	1/20/21	1/18/22	1/17/23	3/29/24	-	-	-

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)	-	8.85%	10.5%	11.9%	12.6%	12.8%	12.7%	12.7%
ROA (Net income/ Total Assets)	-	-	0.86%	1%	-	1.09%	1.09%	1.09%
Assets ¹	-	-	-	161,606	-	195,448	218,782	240,061
Book Value Per Share ²	-	5.590	6.000	6.570	7.270	7.100	8.240	8.750
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	3/30/20	1/20/21	1/18/22	1/17/23	3/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.92 CNY

Average target price

4.77 CNY

Spread / Average Target

+21.68%

	1st Jan change	Capi.
JIANGSU JIANGYIN RURAL COMMERCIAL BANK CO.,LTD.	+10.42%	1.32B
AGRICULTURAL BANK OF CHINA LIMITED	+18.27%	210B
PT BANK CENTRAL ASIA TBK	-0.27%	71.91B
CRÉDIT AGRICOLE S.A.	+20.06%	50.04B
INDUSTRIAL BANK CO., LTD.	+4.01%	48.24B
CHINA CITIC BANK CO., LTD.	+25.82%	46.21B
JAPAN POST BANK CO., LTD.	+9.44%	36.11B
QATAR NATIONAL BANK (Q.P.S.C.)	-15.79%	35.65B
INVEST BANK	-96.60%	32.24B
FIFTH THIRD BANCORP	+12.09%	26.31B