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Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd (601528) Report Analysis

Corporate Events

Positive

Zhejiang Shaoxing RuiFeng Rural Commercial Bank...

2022-06-27 00:00:00

Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd has been added to Shanghai Stock Exchange A Share Index

Neutral

Zhejiang Shaoxing RuiFeng Rural Commercial Bank...

2021-07-20 00:00:00

Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd announced that they will report Q2, 2021 results on Aug 25, 2021

Positive

Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd(SHSE:601528) added to Shanghai Stock Exchange A Share Index

2022-06-27 00:00:00

Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd has been added to Shanghai Stock Exchange A Share Index

Neutral

Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd to Report Q2, 2021 Results on Aug 25, 2021

2021-07-20 00:00:00

Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd announced that they will report Q2, 2021 results on Aug 25, 2021

Fundamental Summary

At a high level, the metrics from Zhejiang Shaoxing RuiFeng Rural Commercial's Q1 financial report release were demonstrably positive. Specifically, their growth, value, and income factors indicate a well-planned and balanced effort, which is generating exciting growth. These results lead us to believe that there should be significant upside potential for the stock. Therefore, they earned a total score of 81 out of 100 and a BUY recommendation.

Zhejiang Shaoxing RuiFeng Rural Commercial reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported net interest income was CNY 743.87 million compared to CNY 732.61 million a year ago. Net income was CNY 298.51 million compared to CNY 251.27 million a year ago. Basic earnings per share from continuing operations was CNY 0.2 compared to CNY 0.18 a year ago. Diluted earnings per share from continuing operations was CNY 0.2 compared to CNY 0.18 a year ago.

Business Description

Zhejiang Shaoxing RuiFeng Rural Commercial provides commercial banking products and services in China. It offers personal wealth products and services that cover financial products, precious metals, funds, insurance products, and asset management products; savings, demand, time, structured, and notice deposit products, as well as certificate of deposit; personal, business, consumer, mortgage, operating, and e-flash loans; credit and debit cards, gold and platinum cards, and cards with VIP privileges; and mobile and online banking services. The company also offers financial management products and services; settlement products and services comprising collection and commitment, receiving payments from other places, electronic exchange, bank drafts, entrusted collection in the same city, transfer check, and promissory notes; and products and services that cover cross-border RMB settlement, domestic guarantee and foreign loans, import collection, import issuance, export documentary collection, L/C review/negotiation, letter of credit notice, foreign exchange remittance, export order financing, foreign exchange loans, import and export double factoring, letter of credit confirmation, import payment, bill of lading endorsement, delivery guarantee, import bills, short-term export credit insurance financing, export invoice financing, forfaiting, export discount and bills, package loans under export letter of credit, false forward letter of credit, loan pay, spot foreign exchange settlement and sale, and foreign exchange deposits. It operates through 26 branches and 79 branch offices, and 105 outlets. The company was founded in 1987 and is based in Shaoxing, China.

Sector Overview

Zhejiang Shaoxing RuiFeng Rural Commercial is included in the Banks according to GICS (global industry classification standard). The Banks industry, which is in the Financials sector, includes Diversified & Regional Banks whose operations focus on conventional banking, retail banking, and lending to SMEs (small and medium enterprises). Zhejiang Shaoxing RuiFeng Rural Commercial's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 143,388.4 4.8% 72
Liabilities 129,250.3 5.0% 83
Price to Book 0.9 -27.5% 79
Cash & Equivalents 9,195.5 13.4% 81
Equity 13,891.6 2.3% 69
Total Revenues 2,448.6 0.8% 66
Parameter Value Change Score
Return on Equity 10.5 1.3% 76
Net Cashflow -289.9 89.3% 96
Capital Expenditure -264.4 -25.9% 44
Free Cashflow 4.1 1584.9% 37

* All values are TTM

The below chart reflects Zhejiang Shaoxing RuiFeng Rural Commercial's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Zhejiang Shaoxing RuiFeng Rural Commercial's peer average final assessment score stands on 73.0, Zhejiang Shaoxing RuiFeng Rural Commercial's score is 81.

  •  601528
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
China Merchants Bank Co., Ltd. 1.1T 77 63 68
Hold
73
73 0 1
Industrial Bank Co., Ltd. 402.2B 85 67 66
Buy
80
80 1 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 72 61 68
Hold
68
68 2 1
China Everbright Bank Company Limited 160.4B 76 63 56
Hold
70
70 3 1
China Minsheng Banking Corp., Ltd. 150.8B 81 62 79
Hold
78
78 4 1
Bank of Nanjing Co., Ltd. 111.2B 82 66 54
Hold
74
74 5 1
Bank of Jiangsu Co., Ltd. 100.3B 83 71 84
Buy
86
86 6 1
Bank of Beijing Co., Ltd. 95.8B 84 59 75
Hold
77
77 7 1
Bank of Shanghai Co., Ltd. 92.8B 90 64 81
Buy
85
85 8 1
Bank of Hangzhou Co., Ltd. 85.0B 81 70 69
Buy
80
80 9 1
Hua Xia Bank Co., Limited 79.1B 81 63 75
Hold
77
77 10 1
Bank of Chengdu Co., Ltd. 61.3B 86 68 58
Buy
79
79 11 1
Bank of Changsha Co., Ltd. 31.4B 79 62 60
Hold
72
72 12 1
QILU BANK CO., LTD. 22.4B 93 69 80
Strong Buy
91
91 13 1
Bank of Guiyang Co.,Ltd. 21.2B 80 62 75
Hold
77
77 14 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 82 71 80
Buy
84
84 15 1
Bank of Xi'an Co.,Ltd. 16.2B 80 56 51
Hold
70
70 16 1
Xiamen Bank Co., Ltd. 15.6B 83 62 82
Buy
80
80 17 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 77 60 53
Hold
70
70 18 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 73 64 79
Hold
73
73 19 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 74 73 70
Hold
76
76 20 1
Ping An Bank Co., Ltd. 281.2B 83 72 85
Strong Buy
87
87 21 1
Bank of Ningbo Co., Ltd. 225.7B 89 70 71
Buy
86
86 22 1
Bank of Suzhou Co., Ltd. 22.1B 92 60 61
Buy
80
80 23 1
Qingdao Rural Commercial Bank Co., Ltd. 18.4B 74 61 81
Hold
73
73 24 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 77 71 64
Hold
76
76 25 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 77 70 53
Hold
72
72 26 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Zhejiang Shaoxing RuiFeng Rural Commercial's stock is now priced below its 5-day, 50-day, and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is weakening. Historically, this is a negative setup in the near, medium, and long-term. The company is trading near it's 12-month low, which signals it struggle to keep above it support price. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Zhejiang Shaoxing RuiFeng Rural Commercial's stock indicates that it's likely oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 42.

Bearish 42
Close Price 8.09
52W Low 8.06
52W High 16.78
5D MA 8.29
50D MA 8.55
200D MA 10.12
MACD -0.06
RSI 9.85
STOCH 2.21

Balance Sheet Analysis

Liabilities and Cash & Equivalents stood out as the most significant drivers of Zhejiang Shaoxing RuiFeng Rural Commercial's balance sheet strength. Zhejiang Shaoxing RuiFeng Rural Commercial is doing a good job of keeping its liabilities under control and growing intelligently. At filing, their liabilities were 129250.3, representing 5.0% change from the previous period. These numbers show that management has successfully encouraged growth while managing liabilities, especially relative to their peers. The company's liabilities movement component, therefore, received a grade of 83. Also, Zhejiang Shaoxing RuiFeng Rural Commercial reported a positive trendline in their cash and cash equivalents metrics. Specifically, they reported that cash and cash equivalents were 9195.5, representing 13.4% change from the last report. This impressive growth, specifically in contrast to their industry peers' performance, should support an upswing in the company's stock price. Consequently, their cash and cash equivalents movement received a grade of 81. That said, one metric, Equity, stood out as strongly negative. Zhejiang Shaoxing RuiFeng Rural Commercial published concerning equity metrics for this filing. In the current report, equity stood at 13891.6, which represents a 2.3% change from the last report. This parameter often affects companies in the same industry and market capitalization by up to 7.1%. Their equity metrics appear unremarkable relative to their peers. Consequently, their equity movement received a grade of 69. Therefore, their balance sheet earned a grade of 83.

Parameter Value Change Score
Assets 143,388.4 4.8% 72
Liabilities 129,250.3 5.0% 83
Price to Book 0.9 -27.5% 79
Cash & Equivalents 9,195.5 13.4% 81
Equity 13,891.6 2.3% 69
* All values are TTM

The below chart describes Zhejiang Shaoxing RuiFeng Rural Commercial's performance as reflected on its balance sheet with respect to its peers. While Zhejiang Shaoxing RuiFeng Rural Commercial received a balance sheet score of 83, the average of its peers stands on 77.0.

  •  601528
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
China Merchants Bank Co., Ltd. 1.1T 72 81 68 37 84 77 0 1
Industrial Bank Co., Ltd. 402.2B 74 80 68 90 82 85 1 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 74 70 55 51 76 72 2 1
China Everbright Bank Company Limited 160.4B 89 44 69 54 76 76 3 1
China Minsheng Banking Corp., Ltd. 150.8B 80 45 69 90 77 81 4 1
Bank of Nanjing Co., Ltd. 111.2B 81 51 51 89 82 82 5 1
Bank of Jiangsu Co., Ltd. 100.3B 87 85 55 92 78 83 6 1
Bank of Beijing Co., Ltd. 95.8B 64 63 68 67 90 84 7 1
Bank of Shanghai Co., Ltd. 92.8B 83 62 54 90 90 90 8 1
Bank of Hangzhou Co., Ltd. 85.0B 82 63 54 87 79 81 9 1
Hua Xia Bank Co., Limited 79.1B 79 49 69 89 76 81 10 1
Bank of Chengdu Co., Ltd. 61.3B 83 76 68 82 83 86 11 1
Bank of Changsha Co., Ltd. 31.4B 74 63 69 72 79 79 12 1
QILU BANK CO., LTD. 22.4B 80 59 95 77 89 93 13 1
Bank of Guiyang Co.,Ltd. 21.2B 74 61 69 77 80 80 14 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 85 81 69 60 81 82 15 1
Bank of Xi'an Co.,Ltd. 16.2B 81 55 67 97 75 80 16 1
Xiamen Bank Co., Ltd. 15.6B 86 66 69 84 78 83 17 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 41 80 56 95 80 77 18 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 66 72 55 62 78 73 19 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 78 77 55 60 75 74 20 1
Ping An Bank Co., Ltd. 281.2B 79 78 69 88 79 83 21 1
Bank of Ningbo Co., Ltd. 225.7B 86 51 68 97 84 89 22 1
Bank of Suzhou Co., Ltd. 22.1B 91 82 54 97 89 92 23 1
Qingdao Rural Commercial Bank Co., Ltd. 18.4B 66 68 55 72 77 74 24 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 84 53 55 65 79 77 25 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 76 66 69 76 74 77 26 1

Income Statement Analysis

Zhejiang Shaoxing RuiFeng Rural Commercial appears likely to maintain its strong income statement metrics, especially Return Factors. Return factors metrics and ratios were exceptional in this report. Zhejiang Shaoxing RuiFeng Rural Commercial reported a return on equity (ROE) ratio of 10.5, representing a change of 1.3% from the last report. Its return factor metrics are even more remarkable when compared to their peers. Consequently, their return factors received a grade of 76. That said, one metric, Revenue Efficiency, stood out as strongly negative. Zhejiang Shaoxing RuiFeng Rural Commercial management did an underwhelming job managing revenue efficiency this past period. Zhejiang Shaoxing RuiFeng Rural Commercial's revenue efficiency is 2448.6 according to the metrics in the current filing, which represents a 0.8% change from the previous report. This metric might have a 2.3 percent impact on companies in the same industry and with the same market capitalization. Their revenue efficiency, specifically in contrast to their industry peers', isn't encouraging. Its revenue efficiency, therefore, received a grade of 66. their income statement received an overall score of 70.

Parameter Value Change Score
Total Revenues 2,448.6 0.8% 66
Return on Equity 10.5 1.3% 76
* All values are TTM

The below chart describes Zhejiang Shaoxing RuiFeng Rural Commercial's performance as reflected on its income statement with respect to its peers. While Zhejiang Shaoxing RuiFeng Rural Commercial received a income statement score of 70 , the average of its peers stands on 65.0.

  •  601528
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
China Merchants Bank Co., Ltd. 1.1T 58 68 61 63 0 1
Industrial Bank Co., Ltd. 402.2B 48 67 73 67 1 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 80 67 54 61 2 1
China Everbright Bank Company Limited 160.4B 69 67 61 63 3 1
China Minsheng Banking Corp., Ltd. 150.8B 85 67 55 62 4 1
Bank of Nanjing Co., Ltd. 111.2B 48 65 74 66 5 1
Bank of Jiangsu Co., Ltd. 100.3B 48 69 80 71 6 1
Bank of Beijing Co., Ltd. 95.8B 63 68 50 59 7 1
Bank of Shanghai Co., Ltd. 92.8B 66 67 61 64 8 1
Bank of Hangzhou Co., Ltd. 85.0B 48 66 82 70 9 1
Hua Xia Bank Co., Limited 79.1B 61 67 61 63 10 1
Bank of Chengdu Co., Ltd. 61.3B 44 68 75 68 11 1
Bank of Changsha Co., Ltd. 31.4B 57 68 58 62 12 1
QILU BANK CO., LTD. 22.4B 50 68 76 69 13 1
Bank of Guiyang Co.,Ltd. 21.2B 69 67 58 62 14 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 52 71 77 71 15 1
Bank of Xi'an Co.,Ltd. 16.2B 47 64 58 56 16 1
Xiamen Bank Co., Ltd. 15.6B 48 68 59 62 17 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 81 71 55 60 18 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 54 69 61 64 19 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 84 69 77 73 20 1
Ping An Bank Co., Ltd. 281.2B 53 68 81 72 21 1
Bank of Ningbo Co., Ltd. 225.7B 55 68 76 70 22 1
Bank of Suzhou Co., Ltd. 22.1B 53 66 58 60 23 1
Qingdao Rural Commercial Bank Co., Ltd. 18.4B 62 67 57 61 24 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 64 67 79 71 25 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 51 68 77 70 26 1

Cash Flow Analysis

Net Cash Flow and Capex stand out as the most significant drivers of Zhejiang Shaoxing RuiFeng Rural Commercial's cash flow's strength. Zhejiang Shaoxing RuiFeng Rural Commercial's management was effective in improving their net cash flow, which now sits at -289.9 and represents a 89.3% change from the previous report. The company is headed in the right direction regarding business priorities, exhibiting prudent net cash flow management and growth. Hence, its net cash flow earned a score of 96. Also, Zhejiang Shaoxing RuiFeng Rural Commercial's management was effective in improving its CapEx, which now sits at -264.4 and represents -25.9% change from the previous report. The company appears to be headed in the right direction regarding resource allocation, exhibiting prudent capital expenditure growth compared to its peers. Therefore, its CapEx movement component earned a score of 44. However, one discouraging result, Free Cash flow, stood out. Zhejiang Shaoxing RuiFeng Rural Commercial's published free cash flow numbers were subpar and could mean that management has lost focus on achieving healthy growth. Zhejiang Shaoxing RuiFeng Rural Commercial recorded free cash flow of 4.1, which represents 1584.9% growth from the previous report. Companies in the same industry and market capitalization are typically affected by this parameter by up to 9.3%. These free cash flow numbers show that management has not been executing well in generating critical cash flow while also encouraging growth. Its free cash flow movement, therefore, received a grade of 37. Consequently, its cash flow earned a score of 69.

Parameter Value Change Score
Net Cashflow -289.9 89.3% 96
Capital Expenditure -264.4 -25.9% 44
Free Cashflow 4.1 1584.9% 37
* All values are TTM

The below chart describes Zhejiang Shaoxing RuiFeng Rural Commercial's performance as reflected on its cash flow with respect to its peers. While Zhejiang Shaoxing RuiFeng Rural Commercial received a cash flow score of 69, the average of its peers stands on 66.0.

  •  601528
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
China Merchants Bank Co., Ltd. 1.1T 90 45 44 69 68 0 1
Industrial Bank Co., Ltd. 402.2B 81 56 47 69 66 1 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 48 87 85 69 68 2 1
China Everbright Bank Company Limited 160.4B 43 95 54 69 56 3 1
China Minsheng Banking Corp., Ltd. 150.8B 84 45 91 69 79 4 1
Bank of Nanjing Co., Ltd. 111.2B 49 84 48 69 54 5 1
Bank of Jiangsu Co., Ltd. 100.3B 93 41 90 69 84 6 1
Bank of Beijing Co., Ltd. 95.8B 67 67 92 69 75 7 1
Bank of Shanghai Co., Ltd. 92.8B 95 38 80 69 81 8 1
Bank of Hangzhou Co., Ltd. 85.0B 49 87 90 69 69 9 1
Hua Xia Bank Co., Limited 79.1B 80 57 69 69 75 10 1
Bank of Chengdu Co., Ltd. 61.3B 66 67 45 69 58 11 1
Bank of Changsha Co., Ltd. 31.4B 59 81 45 69 60 12 1
QILU BANK CO., LTD. 22.4B 81 54 90 69 80 13 1
Bank of Guiyang Co.,Ltd. 21.2B 67 67 90 69 75 14 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 71 73 81 69 80 15 1
Bank of Xi'an Co.,Ltd. 16.2B 43 90 62 67 51 16 1
Xiamen Bank Co., Ltd. 15.6B 93 40 85 69 82 17 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 46 99 50 67 53 18 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 82 52 84 69 79 19 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 85 50 56 69 70 20 1
Ping An Bank Co., Ltd. 281.2B 91 42 96 69 85 21 1
Bank of Ningbo Co., Ltd. 225.7B 93 38 59 69 71 22 1
Bank of Suzhou Co., Ltd. 22.1B 61 78 49 69 61 23 1
Qingdao Rural Commercial Bank Co., Ltd. 18.4B 86 49 84 69 81 24 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 39 98 84 69 64 25 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 42 94 51 69 53 26 1

This report is intended for general guidance and information purposes only and under no circumstances is tailored to a specific factor or variable related to its reader or intended to be used or considered as financial or investment advice, a solicitation of any offer, a recommendation, or an offer to sell or buy any securities or other form of a financial asset. For the full disclaimer, click here.