Financials Jiangsu Suzhou Rural Commercial Bank Co., Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
4.74 ^CNY	-3.27%		-2.07%	+13.94%

Apr. 26	Jiangsu Suzhou Rural Commercial Bank Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
2023	Jiangsu Suzhou Rural Commercial Bank Co., Ltd Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	8,848	9,538	8,943	8,781	8,456	8,547	8,547	-
Enterprise Value (EV) ¹	8,848	9,538	8,943	8,781	8,456	7,501	8,547	8,547
P/E ratio	-	-	-	8.25 x	6.25 x	4.78 x	4.33 x	3.79 x
Yield	-	-	3.02%	3.29%	3.62%	4.33%	4.64%	5.38%
Capitalization / Revenue	2.81 x	2.71 x	2.38 x	2.29 x	2.09 x	1.85 x	1.97 x	1.81 x
EV / Revenue	2.81 x	2.71 x	2.38 x	2.29 x	2.09 x	1.85 x	1.97 x	1.81 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	0.83 x	0.75 x	0.67 x	0.6 x	0.48 x	0.5 x	0.45 x
Nbr of stocks (in thousands)	1,592,893	1,803,065	1,803,069	1,803,070	1,803,073	1,803,073	1,803,073	-
Reference price ²	5.555	5.290	4.960	4.870	4.690	4.740	4.740	4.740
Announcement Date	1/16/19	1/17/20	1/15/21	1/10/22	1/29/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	3,150	3,521	3,753	3,834	4,037	4,046	4,346	4,722
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	-	1,003	1,068	2,544	1,687	1,901	2,860	3,128
Operating Margin	-	28.47%	28.46%	66.36%	41.78%	46.99%	65.8%	66.23%
Earnings before Tax (EBT) ¹	-	-	-	1,260	1,711	1,912	2,201	2,528
Net income ¹	-	-	-	1,160	1,502	1,743	1,973	2,257
Net margin	-	-	-	30.26%	37.2%	43.07%	45.41%	47.79%
EPS ²	-	-	-	0.5900	0.7500	0.8700	1.094	1.252
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	0.1500	0.1600	0.1700	0.1800	0.2200	0.2550
Announcement Date	1/16/19	1/17/20	1/15/21	1/10/22	1/29/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	8.44%	8.07%	9.31%	10.9%	11.7%	12.1%	12.5%
ROA (Net income/ Total Assets)	-	0.75%	0.72%	0.77%	0.88%	0.9%	0.9%	0.91%
Assets ¹	-	-	-	150,558	169,844	193,385	219,244	248,705
Book Value Per Share ²	-	6.380	6.580	7.290	7.790	8.670	9.550	10.60
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	1/16/19	1/17/20	1/15/21	1/10/22	1/29/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4.74 CNY

Average target price

6.11 CNY

Spread / Average Target

+28.90%

	1st Jan change	Capi.
JIANGSU SUZHOU RURAL COMMERCIAL BANK CO., LTD	+13.94%	1.18B
AGRICULTURAL BANK OF CHINA LIMITED	+18.60%	210B
PT BANK CENTRAL ASIA TBK	+2.39%	73.14B
ANZ GROUP HOLDINGS LIMITED	+8.29%	54.82B
INDUSTRIAL BANK CO., LTD.	+1.36%	47.1B
CHINA CITIC BANK CO., LTD.	+21.47%	44.81B
JAPAN POST BANK CO., LTD.	+10.93%	36.6B
QATAR NATIONAL BANK (Q.P.S.C.)	-16.21%	35.14B
INVEST BANK	-96.60%	32.24B
FIFTH THIRD BANCORP	+7.38%	25.23B