JIANGSU ZHANGJIAGANG RURAL COMMERCIAL BANK CO., LTD

Financials Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd

Equities

002839

CNE100002K54

Banks

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-06-05 pm EDT			5-day change	1st Jan Change
4.02 ^CNY	-4.74%		-8.43%	+3.61%

May. 30	Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd Announces Cash Dividend for the Year 2023, Payable on 6 June 2024	CI
May. 23	Jiangsu Zhangjiagang Rural Commercial Bank Co., Approves Cash Dividend for 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	10,737	11,029	10,414	10,002	8,418	8,722	-	-
Enterprise Value (EV) ¹	10,737	11,029	10,414	10,002	8,418	8,722	8,722	8,722
P/E ratio	-	-	9.14 x	7.44 x	5.97 x	4.62 x	4 x	4.02 x
Yield	2.53%	2.62%	2.78%	4.34%	5.15%	5.47%	6.34%	6.22%
Capitalization / Revenue	2.79 x	2.63 x	2.26 x	2.07 x	1.85 x	1.91 x	1.81 x	1.84 x
EV / Revenue	2.79 x	2.63 x	2.26 x	2.07 x	1.85 x	1.91 x	1.81 x	1.84 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.01 x	0.98 x	0.72 x	0.64 x	0.56 x	0.53 x	0.48 x	0.44 x
Nbr of stocks (in thousands)	2,169,081	2,169,558	2,169,559	2,169,649	2,169,650	2,169,655	-	-
Reference price ²	4.950	5.083	4.800	4.610	3.880	4.020	4.020	4.020
Announcement Date	2/3/20	1/22/21	3/28/22	1/16/23	4/30/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,853	4,195	4,616	4,827	4,541	4,561	4,814	4,741
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	966.5	998.3	3,145	1,778	1,925	3,106	3,344	3,229
Operating Margin	25.09%	23.8%	68.14%	36.83%	42.38%	68.1%	69.46%	68.11%
Earnings before Tax (EBT) ¹	-	-	1,373	1,855	-	2,042	2,181	2,345
Net income ¹	-	-	1,304	1,682	1,787	1,888	2,184	2,168
Net margin	-	-	28.24%	34.84%	39.35%	41.39%	45.36%	45.73%
EPS ²	-	-	0.5250	0.6200	0.6500	0.8700	1.005	1.000
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1250	0.1333	0.1333	0.2000	0.2000	0.2200	0.2550	0.2500
Announcement Date	2/3/20	1/22/21	3/28/22	1/16/23	4/30/24	-	-	-

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)	9.22%	9.15%	11.1%	12.2%	11.7%	10.2%	11.1%	9.98%
ROA (Net income/ Total Assets)	0.8%	0.75%	0.85%	0.96%	0.91%	0.87%	0.9%	0.85%
Assets ¹	-	-	154,192	176,054	197,330	217,011	242,611	255,059
Book Value Per Share ²	4.920	5.160	6.650	7.170	6.930	7.600	8.300	9.090
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	2/3/20	1/22/21	3/28/22	1/16/23	4/30/24	-	-	-

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 Zhangjiagang Rural Commercial Bank Co., Ltd

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4.02 CNY

Average target price

5.36 CNY

Spread / Average Target

+33.33%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Banks

	1st Jan change	Capi.
JIANGSU ZHANGJIAGANG RURAL COMMERCIAL BANK CO., LTD	+3.61%	1.2B
JPMORGAN CHASE & CO.	+15.76%	565B
BANK OF AMERICA CORPORATION	+17.91%	310B
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED	+15.71%	252B
WELLS FARGO & COMPANY	+17.29%	201B
CHINA CONSTRUCTION BANK CORPORATION	+21.72%	181B
BANK OF CHINA LIMITED	+27.18%	170B
HSBC HOLDINGS PLC	+8.48%	163B
ROYAL BANK OF CANADA	+9.79%	152B
HDFC BANK LIMITED	-8.02%	142B

Other Banks