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Qingdao Rural Commercial Bank Co., Ltd. (002958) Report Analysis

Corporate Events

Negative

Qingdao Rural Commercial Bank Co., Ltd. Approve...

2022-06-27 19:32:00

Qingdao Rural Commercial Bank Co., Ltd. announced at the AGM held on June 24, 2022 that the company approved Cash dividend/10 shares (tax incl...

Negative

Qingdao Rural Commercial Bank Co., Ltd. Announc...

2022-06-27 19:32:00

Qingdao Rural Commercial Bank Co., Ltd. announced at the AGM held on June 24, 2022 that the company approved Election of Pan Ailing and Yan Ti...

Neutral

Qingdao Rural Commercial Bank Co., Ltd., Annual...

2022-06-06 00:00:00

Qingdao Rural Commercial Bank Co., Ltd., Annual General Meeting, Jun 24, 2022, at 15:30 China Standard Time. Agenda: To consider 2021 work rep...

Neutral

Qingdao Rural Commercial Bank Co., Ltd., 2021 E...

2022-05-19 13:31:00

Qingdao Rural Commercial Bank Co., Ltd., 2021 Earnings Call, May 20, 2022

Negative

Qingdao Rural Commercial Bank Co., Ltd. Propose...

2022-04-29 19:59:00

Qingdao Rural Commercial Bank Co., Ltd. proposed final cash dividend of CNY 1.00000000 per ten shares (tax included) for the year 2021.

Neutral

Qingdao Rural Commercial Bank Co., Ltd., Annual...

2022-04-01 19:41:00

Qingdao Rural Commercial Bank Co., Ltd., Annual General Meeting, May 10, 2022, at 09:00 China Standard Time. Agenda: To consider 2021 work rep...

Neutral

Qingdao Rural Commercial Bank Corporation, Spec...

2021-08-02 19:35:00

Qingdao Rural Commercial Bank Corporation, Special/Extraordinary Shareholders Meeting, Aug 16, 2021, at 15:30 China Standard Time. Agenda: To ...

Positive

Qingdao Rural Commercial Bank Corporation Annou...

2021-06-30 19:32:00

Qingdao Rural Commercial Bank Corporation announced final cash dividend of CNY 1.500 per ten A shares (tax included) for 2020, payable on 07 J...

Negative

Qingdao Rural Commercial Bank Co., Ltd. Approves Dividend for 2021

2022-06-27 19:32:00

Qingdao Rural Commercial Bank Co., Ltd. announced at the AGM held on June 24, 2022 that the company approved Cash dividend/10 shares (tax included) of CNY 1.00000000 for 2021.

Negative

Qingdao Rural Commercial Bank Co., Ltd. Announces Director Appointments

2022-06-27 19:32:00

Qingdao Rural Commercial Bank Co., Ltd. announced at the AGM held on June 24, 2022 that the company approved Election of Pan Ailing and Yan Tingli as an independent director.

Neutral

Qingdao Rural Commercial Bank Co., Ltd., Annual General Meeting, Jun 24, 2022

2022-06-06 00:00:00

Qingdao Rural Commercial Bank Co., Ltd., Annual General Meeting, Jun 24, 2022, at 15:30 China Standard Time. Agenda: To consider 2021 work report of the board of directors;to consider 2021 work report of the supervisory committee; to consider 2021 annual accounts and 2022 financial budget report; to consider 2021 profit distribution plan; to consider 2022 estimated quota of continuing connected transactions with some related parties;and to consider other matters.

Neutral

Qingdao Rural Commercial Bank Co., Ltd., 2021 Earnings Call, May 20, 2022

2022-05-19 13:31:00

Qingdao Rural Commercial Bank Co., Ltd., 2021 Earnings Call, May 20, 2022

Negative

Qingdao Rural Commercial Bank Co., Ltd. Proposes Final Cash Dividend for the Year 2021

2022-04-29 19:59:00

Qingdao Rural Commercial Bank Co., Ltd. proposed final cash dividend of CNY 1.00000000 per ten shares (tax included) for the year 2021.

Neutral

Qingdao Rural Commercial Bank Co., Ltd., Annual General Meeting, May 10, 2022

2022-04-01 19:41:00

Qingdao Rural Commercial Bank Co., Ltd., Annual General Meeting, May 10, 2022, at 09:00 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual accounts; to consider 2021 profit distribution plan; to consider Appointment of 2022 external audit firm and its audit fees; to consider 2021 special report on connected transactions; to consider 2022 estimated quota of continuing connected transactions; and to consider any other matters.

Neutral

Qingdao Rural Commercial Bank Corporation, Special/Extraordinary Shareholders Meeting, Aug 16, 2021

2021-08-02 19:35:00

Qingdao Rural Commercial Bank Corporation, Special/Extraordinary Shareholders Meeting, Aug 16, 2021, at 15:30 China Standard Time. Agenda: To consider exemption of some shareholders from voluntarily commitments on stabilizing share price.

Positive

Qingdao Rural Commercial Bank Corporation Announces Final Cash Dividend for 2020, Payable on 07 July 2021

2021-06-30 19:32:00

Qingdao Rural Commercial Bank Corporation announced final cash dividend of CNY 1.500 per ten A shares (tax included) for 2020, payable on 07 July 2021. The record date is 06 July 2021 and the ex-date is 07 July 2021.

Fundamental Summary

Looking at Qingdao Rural Commercial's financials of Q1 reflected decent results. This typically translates into the stock performing on par with market performance for the upcoming quarter. Therefore, Qingdao Rural Commercial received an overall score of 73, translating into a HOLD ranking.

Qingdao 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 1,878.09 million compared to CNY 2,002.68 million a year ago. Net income was CNY 941.16 million compared to CNY 913 million a year ago. Basic earnings per share from continuing operations was CNY 0.15 compared to CNY 0.16 a year ago. Diluted earnings per share from continuing operations was CNY 0.14 compared to CNY 0.15 a year ago.

Business Description

Qingdao Rural Commercial provides various banking products and services in China. The company offers foreign exchange account; import and export collection; inward and outward remittance; letter of guarantee; financing; and export invoice financing services, as well as package and foreign exchange loans and certificates of deposit. The company was founded in 1951 and is headquartered in Qingdao, China.

Sector Overview

Qingdao 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). Qingdao 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 442,633.9 4.6% 68
Liabilities 406,792.7 4.1% 66
Price to Book 0.5 -30.5% 77
Cash & Equivalents 14,827.6 1.1% 72
Equity 34,963.1 10.0% 55
Total Revenues 6,366.3 6.4% 62
Parameter Value Change Score
Return on Equity 9.1 -12.2% 57
Net Cashflow 159.4 -67.3% 86
Capital Expenditure -322.2 23.7% 84
Free Cashflow 0.9 198.7% 49

* All values are TTM

The below chart reflects Qingdao 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 Qingdao Rural Commercial's peer average final assessment score stands on 74.0, Qingdao Rural Commercial's score is 73.

  •  002958
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
Ping An Bank Co., Ltd. 281.2B 83 72 85
Strong Buy
87
87 0 1
Bank of Ningbo Co., Ltd. 225.7B 89 70 71
Buy
86
86 1 1
Bank of Suzhou Co., Ltd. 22.1B 92 60 61
Buy
80
80 2 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 77 71 64
Hold
76
76 3 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 77 70 53
Hold
72
72 4 1
China Merchants Bank Co., Ltd. 1.1T 77 63 68
Hold
73
73 5 1
Industrial Bank Co., Ltd. 402.2B 85 67 66
Buy
80
80 6 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 72 61 68
Hold
68
68 7 1
China Everbright Bank Company Limited 160.4B 76 63 56
Hold
70
70 8 1
China Minsheng Banking Corp., Ltd. 150.8B 81 62 79
Hold
78
78 9 1
Bank of Nanjing Co., Ltd. 111.2B 82 66 54
Hold
74
74 10 1
Bank of Jiangsu Co., Ltd. 100.3B 83 71 84
Buy
86
86 11 1
Bank of Beijing Co., Ltd. 95.8B 84 59 75
Hold
77
77 12 1
Bank of Shanghai Co., Ltd. 92.8B 90 64 81
Buy
85
85 13 1
Bank of Hangzhou Co., Ltd. 85.0B 81 70 69
Buy
80
80 14 1
Hua Xia Bank Co., Limited 79.1B 81 63 75
Hold
77
77 15 1
Bank of Chengdu Co., Ltd. 61.3B 86 68 58
Buy
79
79 16 1
Bank of Changsha Co., Ltd. 31.4B 79 62 60
Hold
72
72 17 1
QILU BANK CO., LTD. 22.4B 93 69 80
Strong Buy
91
91 18 1
Bank of Guiyang Co.,Ltd. 21.2B 80 62 75
Hold
77
77 19 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 82 71 80
Buy
84
84 20 1
Bank of Xi'an Co.,Ltd. 16.2B 80 56 51
Hold
70
70 21 1
Xiamen Bank Co., Ltd. 15.6B 83 62 82
Buy
80
80 22 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 12.2B 83 70 69
Buy
81
81 23 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 77 60 53
Hold
70
70 24 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 73 64 79
Hold
73
73 25 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 74 73 70
Hold
76
76 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. Qingdao Rural Commercial's stock is now priced above its 5-day and 50-day, but below its 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is strengthening. Historically, this is a positive setup in both the short and medium-term. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Qingdao Rural Commercial's stock indicates that it's likely oversold. Overall, these technical indicators signal positive upward momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 73.

Bullish 73
Close Price 3.35
52W Low 3.17
52W High 4.38
5D MA 3.33
50D MA 3.33
200D MA 3.69
MACD 0.01
RSI 0.61
STOCH 23.53

Balance Sheet Analysis

Qingdao Rural Commercial appears likely to maintain its strong balance sheet metrics and momentum going forward. Qingdao Rural Commercial publishes solid book value factor metrics in this report. Price to book ratio (P/B) now sits at 0.5 and represents a -30.5% change from the previous report. These book value factor numbers show that management has been prudent in focusing on efficient growth. We believe the stock price has room to grow to reflect its intrinsic value accurately. Consequently, their book value factors movement received a grade of 77. Also, Qingdao Rural Commercial did a great job related to cash and cash equivalents this period, which stood at 14827.6, representing a 1.1% change from the previous filing. Its impressive cash and cash equivalents metrics should support upward pressure on its's stock price. Therefore, its cash and cash equivalents movement earned a score of 72. At the same time, one critical balance sheet metric, Equity, was notably weak. Qingdao Rural Commercial published concerning equity metrics for this filing. In the current report, equity stood at 34963.1, which represents a 10.0% 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. Its equity movement component, therefore, received a grade of 55. Similarly, because the company's management is doing an excellent job managing these critical metrics, the balance sheet was given a score of 74.

Parameter Value Change Score
Assets 442,633.9 4.6% 68
Liabilities 406,792.7 4.1% 66
Price to Book 0.5 -30.5% 77
Cash & Equivalents 14,827.6 1.1% 72
Equity 34,963.1 10.0% 55
* All values are TTM

The below chart describes Qingdao Rural Commercial's performance as reflected on its balance sheet with respect to its peers. While Qingdao Rural Commercial received a balance sheet score of 74, the average of its peers stands on 78.0.

  •  002958
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
Ping An Bank Co., Ltd. 281.2B 79 78 69 88 79 83 0 1
Bank of Ningbo Co., Ltd. 225.7B 86 51 68 97 84 89 1 1
Bank of Suzhou Co., Ltd. 22.1B 91 82 54 97 89 92 2 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 84 53 55 65 79 77 3 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 76 66 69 76 74 77 4 1
China Merchants Bank Co., Ltd. 1.1T 72 81 68 37 84 77 5 1
Industrial Bank Co., Ltd. 402.2B 74 80 68 90 82 85 6 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 74 70 55 51 76 72 7 1
China Everbright Bank Company Limited 160.4B 89 44 69 54 76 76 8 1
China Minsheng Banking Corp., Ltd. 150.8B 80 45 69 90 77 81 9 1
Bank of Nanjing Co., Ltd. 111.2B 81 51 51 89 82 82 10 1
Bank of Jiangsu Co., Ltd. 100.3B 87 85 55 92 78 83 11 1
Bank of Beijing Co., Ltd. 95.8B 64 63 68 67 90 84 12 1
Bank of Shanghai Co., Ltd. 92.8B 83 62 54 90 90 90 13 1
Bank of Hangzhou Co., Ltd. 85.0B 82 63 54 87 79 81 14 1
Hua Xia Bank Co., Limited 79.1B 79 49 69 89 76 81 15 1
Bank of Chengdu Co., Ltd. 61.3B 83 76 68 82 83 86 16 1
Bank of Changsha Co., Ltd. 31.4B 74 63 69 72 79 79 17 1
QILU BANK CO., LTD. 22.4B 80 59 95 77 89 93 18 1
Bank of Guiyang Co.,Ltd. 21.2B 74 61 69 77 80 80 19 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 85 81 69 60 81 82 20 1
Bank of Xi'an Co.,Ltd. 16.2B 81 55 67 97 75 80 21 1
Xiamen Bank Co., Ltd. 15.6B 86 66 69 84 78 83 22 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 12.2B 83 72 69 81 79 83 23 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 41 80 56 95 80 77 24 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 66 72 55 62 78 73 25 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 78 77 55 60 75 74 26 1

Income Statement Analysis

Qingdao Rural Commercial appears likely to maintain its strong income statement metrics, especially Revenue Efficiency. Qingdao Rural Commercial's financials reveal an interesting trend for their revenue efficiency. This characteristic can affect companies in the same industry and market capitalization by up to 2.3%. Their impressive revenue efficiency is even more impressive relative to its peers and competitors in the current market. As a result, its revenue efficiency earned a score of 62. That said, one metric, Return Factors, stood out as strongly negative. In this filing, Qingdao Rural Commercial reported a return on equity (ROE) ratio of 9.1, which represents a growth of -12.2%. This metric might have a 12.5 percent impact on companies in the same industry and with the same market capitalization. These numbers show that management has been unsuccessful in fostering appropriate growth related to return on assets and return on equity momentum relative to their peers. Its return factors (ROA & ROE) components, therefore, received a grade of 57. their income statement received an overall score of 61.

Parameter Value Change Score
Total Revenues 6,366.3 6.4% 62
Return on Equity 9.1 -12.2% 57
* All values are TTM

The below chart describes Qingdao Rural Commercial's performance as reflected on its income statement with respect to its peers. While Qingdao Rural Commercial received a income statement score of 61 , the average of its peers stands on 67.0.

  •  002958
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
Ping An Bank Co., Ltd. 281.2B 53 68 81 72 0 1
Bank of Ningbo Co., Ltd. 225.7B 55 68 76 70 1 1
Bank of Suzhou Co., Ltd. 22.1B 53 66 58 60 2 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 64 67 79 71 3 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 51 68 77 70 4 1
China Merchants Bank Co., Ltd. 1.1T 58 68 61 63 5 1
Industrial Bank Co., Ltd. 402.2B 48 67 73 67 6 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 80 67 54 61 7 1
China Everbright Bank Company Limited 160.4B 69 67 61 63 8 1
China Minsheng Banking Corp., Ltd. 150.8B 85 67 55 62 9 1
Bank of Nanjing Co., Ltd. 111.2B 48 65 74 66 10 1
Bank of Jiangsu Co., Ltd. 100.3B 48 69 80 71 11 1
Bank of Beijing Co., Ltd. 95.8B 63 68 50 59 12 1
Bank of Shanghai Co., Ltd. 92.8B 66 67 61 64 13 1
Bank of Hangzhou Co., Ltd. 85.0B 48 66 82 70 14 1
Hua Xia Bank Co., Limited 79.1B 61 67 61 63 15 1
Bank of Chengdu Co., Ltd. 61.3B 44 68 75 68 16 1
Bank of Changsha Co., Ltd. 31.4B 57 68 58 62 17 1
QILU BANK CO., LTD. 22.4B 50 68 76 69 18 1
Bank of Guiyang Co.,Ltd. 21.2B 69 67 58 62 19 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 52 71 77 71 20 1
Bank of Xi'an Co.,Ltd. 16.2B 47 64 58 56 21 1
Xiamen Bank Co., Ltd. 15.6B 48 68 59 62 22 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 12.2B 66 68 76 70 23 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 81 71 55 60 24 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 54 69 61 64 25 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 84 69 77 73 26 1

Cash Flow Analysis

Net Cash Flow and Capex stand out as the most significant drivers of Qingdao Rural Commercial's cash flow's strength. Qingdao Rural Commercial's strong net cash flow numbers, which were 159.4 in this filing, showed a -67.3% change from the last period. This industry-leading net cash flow momentum should reinforce broader positive momentum for its's stock price going forward. Consequently, their net cash flow movement received a grade of 86. Also, Qingdao Rural Commercial's management was effective in improving its CapEx, which now sits at -322.2 and represents 23.7% change from the previous report. This performance is all the more impressive relative to their peers and competitors. The company's CapEx movement, therefore, received a grade of 84. That said, one metric, Free Cash flow, stood out as strongly negative. Qingdao Rural Commercial did a poor job related to generating and maintaining strong free cash flow this period, which stood at 0.9, representing a 198.7% change from the previous filing. Companies in the same industry and market capitalization are typically affected by this parameter by up to 9.3%. Their free cash flow situation is more concerning relative to their peers and competitors. Consequently, their free cash flow movement received a grade of 49. Consequently, its cash flow earned a score of 81.

Parameter Value Change Score
Net Cashflow 159.4 -67.3% 86
Capital Expenditure -322.2 23.7% 84
Free Cashflow 0.9 198.7% 49
* All values are TTM

The below chart describes Qingdao Rural Commercial's performance as reflected on its cash flow with respect to its peers. While Qingdao Rural Commercial received a cash flow score of 81, the average of its peers stands on 67.0.

  •  002958
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
Ping An Bank Co., Ltd. 281.2B 91 42 96 69 85 0 1
Bank of Ningbo Co., Ltd. 225.7B 93 38 59 69 71 1 1
Bank of Suzhou Co., Ltd. 22.1B 61 78 49 69 61 2 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 39 98 84 69 64 3 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 42 94 51 69 53 4 1
China Merchants Bank Co., Ltd. 1.1T 90 45 44 69 68 5 1
Industrial Bank Co., Ltd. 402.2B 81 56 47 69 66 6 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 48 87 85 69 68 7 1
China Everbright Bank Company Limited 160.4B 43 95 54 69 56 8 1
China Minsheng Banking Corp., Ltd. 150.8B 84 45 91 69 79 9 1
Bank of Nanjing Co., Ltd. 111.2B 49 84 48 69 54 10 1
Bank of Jiangsu Co., Ltd. 100.3B 93 41 90 69 84 11 1
Bank of Beijing Co., Ltd. 95.8B 67 67 92 69 75 12 1
Bank of Shanghai Co., Ltd. 92.8B 95 38 80 69 81 13 1
Bank of Hangzhou Co., Ltd. 85.0B 49 87 90 69 69 14 1
Hua Xia Bank Co., Limited 79.1B 80 57 69 69 75 15 1
Bank of Chengdu Co., Ltd. 61.3B 66 67 45 69 58 16 1
Bank of Changsha Co., Ltd. 31.4B 59 81 45 69 60 17 1
QILU BANK CO., LTD. 22.4B 81 54 90 69 80 18 1
Bank of Guiyang Co.,Ltd. 21.2B 67 67 90 69 75 19 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 71 73 81 69 80 20 1
Bank of Xi'an Co.,Ltd. 16.2B 43 90 62 67 51 21 1
Xiamen Bank Co., Ltd. 15.6B 93 40 85 69 82 22 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 12.2B 96 37 44 69 69 23 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 46 99 50 67 53 24 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 82 52 84 69 79 25 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 85 50 56 69 70 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.