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    600919   CNE100002G76

BANK OF JIANGSU CO., LTD.

(600919)
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China stocks inch higher as financials shine on upbeat earnings

04/29/2021 | 12:59am EDT

SHANGHAI, April 29 (Reuters) - China stocks edged higher on Thursday, led by gains in financials on upbeat first-quarter earnings from many heavyweight companies in the sector, while some mutual funds' high allocations to the banking sector also lent support.

** At the midday break, the Shanghai Composite index was up 0.17% at 3,463.10, while China's blue-chip CSI300 index was up 0.25% at 5,132.12.

** The smaller Shenzhen index edged down 0.08%, the start-up board ChiNext Composite index was weaker by 0.57% and Shanghai's tech-focused STAR50 index was down 0.32%.

** CITIC Securities Co,, China's biggest brokerage by assets, reported a 26.7% rise in first-quarter net profit on Wednesday, led by strong growth in commission fees.

** A gauge that measures the performance of the sector, the CSI SWS securities index, was up 2.58%.

** Bank of Jiangsu hit its upward trading limit earlier in the session, after the lender said its non-performing loan ratio fell to 1.32% at end-March, the lowest level since it was listed.

** Banking shares were up after some mutual funds reportedly increased their allocation to the sector. Data showed that total market value of mutual fund holdings in banks stood at 123.39 billion yuan ($19.07 billion) at end-March, up by 73.44% from the previous quarter.

** Zhang Yiwei, analyst at China Galaxy Securities, said the higher banking allocation was underpinned by "macro economic recovery, easing pressure on profit distribution and the release of provisions". He sees room for continued improvement in the bank sector for higher valuation.

** Chinese H-shares listed in Hong Kong rose 0.38% to 11,057.03, while the Hang Seng Index was up 0.62% at 29,251.40.

** Gains in Hong Kong was tracking its peers in the region after the U.S. Federal Reserve said it was too early to consider rolling back emergency support for the economy. ($1 = 6.4712 Chinese yuan) (Reporting by Winni Zhou and Andrew Galbraith; Editing by Rashmi Aich)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF JIANGSU CO., LTD. -0.26% 7.67 End-of-day quote.40.48%
CHINA GALAXY SECURITIES CO., LTD. -0.43% 4.67 End-of-day quote.-3.91%
CITIC LIMITED -3.09% 8.79 End-of-day quote.60.11%
CITIC SECURITIES COMPANY LIMITED -2.81% 24.94 End-of-day quote.-15.17%
HANG SENG 0.48% 28848.85 Real-time Quote.5.94%
S&P/CITIC 300 INDEX 0.00% 4675.13 Delayed Quote.1.78%
S&P/CITIC 50 INDEX 0.04% 4673.81 Delayed Quote.0.21%
SHENZHEN STOCK EXCHANGE A SHARE INDEX -0.61% 2519.6281 Real-time Quote.3.37%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.33% 6.4127 Delayed Quote.-1.60%
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Financials
Sales 2021 61 513 M 9 614 M 9 614 M
Net income 2021 19 795 M 3 094 M 3 094 M
Net Debt 2021 - - -
P/E ratio 2021 5,83x
Yield 2021 4,31%
Capitalization 113 B 17 704 M 17 706 M
Capi. / Sales 2021 1,84x
Capi. / Sales 2022 1,66x
Nbr of Employees 15 363
Free-Float 77,2%
Chart BANK OF JIANGSU CO., LTD.
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Bank of Jiangsu Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends BANK OF JIANGSU CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Average target price 8,88 CNY
Last Close Price 7,67 CNY
Spread / Highest target 29,7%
Spread / Average Target 15,8%
Spread / Lowest Target 0,39%
EPS Revisions
Managers and Directors
NameTitle
Ming Ji President, General Manager & Executive Director
Ping Xia Chairman
Qi Long Zhu Chairman-Supervisory Board
Hui Zhao Chief Operations Officer & Vice President
Ting Dong Yang Independent Director