Financials Bank of Hangzhou Co., Ltd.

Equities

600926

CNE100002GQ4

Banks

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
12.37 CNY -2.44% Intraday chart for Bank of Hangzhou Co., Ltd. +2.66% +23.58%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 46,993 88,479 76,025 77,568 59,362 73,358 - -
Enterprise Value (EV) 1 46,993 88,479 76,025 77,568 59,362 73,358 73,358 73,358
P/E ratio - 12.8 x 9.94 x 8.28 x 5.08 x 4.33 x 3.88 x 3.12 x
Yield - 2.35% 2.73% 3.06% 5.19% 5.12% 5.8% 7.34%
Capitalization / Revenue 2.2 x 3.57 x 2.59 x 2.36 x 1.7 x 2.01 x 1.81 x 1.73 x
EV / Revenue 2.2 x 3.57 x 2.59 x 2.36 x 1.7 x 2.01 x 1.81 x 1.73 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.75 x 1.39 x 1.04 x 0.95 x 0.63 x 0.68 x 0.6 x 0.51 x
Nbr of stocks (in thousands) 5,130,200 5,930,200 5,930,200 5,930,278 5,930,284 5,930,286 - -
Reference price 2 9.160 14.92 12.82 13.08 10.01 12.37 12.37 12.37
Announcement Date 4/29/20 2/26/21 3/10/22 2/14/23 1/13/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 21,409 24,806 29,361 32,932 35,016 36,545 40,479 42,496
EBITDA - - - - - - - -
EBIT 1 7,309 18,005 10,580 12,993 24,723 26,166 29,506 31,434
Operating Margin 34.14% 72.58% 36.03% 39.45% 70.6% 71.6% 72.89% 73.97%
Earnings before Tax (EBT) 1 - 8,046 10,595 13,003 16,282 19,141 22,058 26,549
Net income 1 - 7,136 9,261 11,679 14,383 17,005 19,630 23,673
Net margin - 28.77% 31.54% 35.46% 41.08% 46.53% 48.49% 55.71%
EPS 2 - 1.170 1.290 1.580 1.970 2.859 3.190 3.970
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 - 0.3500 0.3500 0.4000 0.5200 0.6329 0.7176 0.9075
Announcement Date 4/29/20 2/26/21 3/10/22 2/14/23 1/13/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 S1 2023 S2
Net sales 1 18,356 16,660
EBITDA - -
EBIT - -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income - -
Net margin - -
EPS - -
Dividend per Share - -
Announcement Date 8/15/23 1/13/24
1CNY in Million
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) 12.2% 11.1% 12.3% 14.1% 15.6% 16.3% 16.2% 17.4%
ROA (Net income/ Total Assets) 0.68% 0.65% 0.72% 0.78% - 0.89% 0.91% 0.97%
Assets 1 - 1,096,364 1,279,904 1,503,476 - 1,904,598 2,168,789 2,432,151
Book Value Per Share 2 12.20 10.80 12.30 13.80 15.90 18.10 20.60 24.10
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 4/29/20 2/26/21 3/10/22 2/14/23 1/13/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
16
Last Close Price
12.37 CNY
Average target price
13.02 CNY
Spread / Average Target
+5.22%
Consensus

Annual profits - Rate of surprise

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