Financials Bank of Guiyang Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-16 pm EDT			5-day change	1st Jan Change
5.84 ^CNY	+1.74%		+3.36%	+13.62%

Apr. 26	Bank of Guiyang Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 26	Bank of Guiyang 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	30,764	25,583	23,802	20,073	18,793	21,352	-	-
Enterprise Value (EV) ¹	30,764	25,583	23,802	20,073	18,793	21,352	21,352	21,352
P/E ratio	-	-	-	3.43 x	3.54 x	4.07 x	4.19 x	4.23 x
Yield	3.24%	-	4.61%	5.46%	5.64%	4.62%	4.45%	-
Capitalization / Revenue	2.1 x	1.59 x	1.59 x	1.28 x	1.24 x	1.53 x	1.53 x	1.42 x
EV / Revenue	2.1 x	1.59 x	1.59 x	1.28 x	1.24 x	1.53 x	1.53 x	1.42 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.79 x	-	0.5 x	0.39 x	0.33 x	0.35 x	0.33 x	0.31 x
Nbr of stocks (in thousands)	3,218,029	3,218,029	3,656,198	3,656,198	3,656,198	3,656,198	-	-
Reference price ²	9.560	7.950	6.510	5.490	5.140	5.840	5.840	5.840
Announcement Date	1/22/20	4/29/21	4/28/22	4/28/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	14,668	16,081	15,004	15,643	15,096	13,940	13,958	15,068
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	6,349	6,761	6,796	6,809	5,956	9,936	9,887	10,828
Operating Margin	43.29%	42.04%	45.29%	43.53%	39.45%	71.28%	70.83%	71.86%
Earnings before Tax (EBT) ¹	-	-	-	6,795	5,986	5,816	5,700	5,814
Net income ¹	-	-	-	6,107	5,562	5,320	5,196	5,277
Net margin	-	-	-	39.04%	36.84%	38.16%	37.23%	35.02%
EPS ²	-	-	-	1.600	1.450	1.435	1.395	1.380
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.3100	-	0.3000	0.3000	0.2900	0.2700	0.2600	-
Announcement Date	1/22/20	4/29/21	4/28/22	4/28/23	4/26/24	-	-	-

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)	17.4%	15.8%	13.3%	11.8%	9.81%	8.2%	7.5%	-
ROA (Net income/ Total Assets)	1.09%	-	1.04%	1%	-	0.8%	0.7%	-
Assets ¹	-	-	-	610,664	-	665,000	742,357	-
Book Value Per Share ²	12.10	-	13.00	14.10	15.50	16.60	17.70	18.70
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	1/22/20	4/29/21	4/28/22	4/28/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

5.84 CNY

Average target price

6.06 CNY

Spread / Average Target

+3.77%

	1st Jan change	Capi.
BANK OF GUIYANG CO.,LTD.	+13.62%	2.96B
JPMORGAN CHASE & CO.	+20.43%	590B
BANK OF AMERICA CORPORATION	+16.75%	307B
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED	+23.30%	257B
WELLS FARGO & COMPANY	+24.18%	213B
CHINA CONSTRUCTION BANK CORPORATION	+25.81%	190B
BANK OF CHINA LIMITED	+29.53%	172B
HSBC HOLDINGS PLC	+9.68%	164B
ROYAL BANK OF CANADA	+8.46%	151B
COMMONWEALTH BANK OF AUSTRALIA	+8.26%	135B