Financials Huishang Bank Corporation Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:20 2024-04-26 am EDT			5-day change	1st Jan Change
2.36 ^HKD	+0.43%		-0.42%	-0.42%

Mar. 28	Huishang Bank Logs Nearly 8% Boost in 2023 Profit	MT
Mar. 27	Huishang Bank Corporation Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	31,066	25,985	29,539	30,423	29,920	30,343	-
Enterprise Value (EV) ¹	31,066	25,985	29,539	30,423	29,920	30,343	30,343
P/E ratio	3.35 x	2.97 x	2.79 x	2.33 x	2.19 x	1.81 x	1.66 x
Yield	6.01%	-	4.2%	-	6.67%	8.56%	9.28%
Capitalization / Revenue	1 x	0.8 x	0.83 x	0.84 x	0.82 x	0.75 x	0.7 x
EV / Revenue	1 x	0.8 x	0.83 x	0.84 x	0.82 x	0.75 x	0.7 x
EV / EBITDA	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	0.45 x	0.34 x	0.3 x	0.28 x	0.25 x	0.22 x	0.19 x
Nbr of stocks (in thousands)	12,154,801	12,154,801	13,889,801	13,889,801	13,889,801	13,889,801	-
Reference price ²	2.860	2.540	2.610	2.480	2.370	2.360	2.360
Announcement Date	3/31/20	3/26/21	3/30/22	3/30/23	3/27/24	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	31,159	32,290	35,514	36,230	36,365	40,462	43,316
EBITDA	-	-	-	-	-	-	-
EBIT	24,068	24,636	26,830	-	-	-	-
Operating Margin	77.24%	76.3%	75.55%	-	-	-	-
Earnings before Tax (EBT) ¹	12,301	12,083	13,537	17,315	17,657	22,197	24,077
Net income ¹	9,819	9,570	11,460	13,398	14,433	16,765	18,251
Net margin	31.51%	29.64%	32.27%	36.98%	39.69%	41.43%	42.13%
EPS ²	0.8537	0.8551	0.9371	1.062	1.083	1.306	1.422
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	0.1718	-	0.1097	-	0.1580	0.2020	0.2190
Announcement Date	3/31/20	3/26/21	3/30/22	3/30/23	3/27/24	-	-

¹CNY in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	14.6%	12.9%	12.3%	12.8%	12.5%	12.7%	12%
ROA (Net income/ Total Assets)	0.92%	0.83%	0.89%	-	-	-	-
Assets ¹	1,067,259	1,152,978	1,287,683	-	-	-	-
Book Value Per Share ²	6.410	7.450	8.750	9.010	9.580	10.90	12.20
Cash Flow per Share	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-
Announcement Date	3/31/20	3/26/21	3/30/22	3/30/23	3/27/24	-	-

¹CNY in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

SELL

Number of Analysts

Last Close Price

2.36 HKD

Average target price

2.14 HKD

Spread / Average Target

-9.30%

	1st Jan change	Capi.
HUISHANG BANK CORPORATION LIMITED	-0.42%	4.19B
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CRÉDIT AGRICOLE S.A.	+13.25%	47B
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INVEST BANK	-96.60%	32.24B