Upcoming Dividend • May 19
Upcoming dividend of CN¥0.22 per share Eligible shareholders must have bought the stock before 26 May 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 7.0%. Within top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (5.0%). Declared Dividend • Apr 30
Dividend of CN¥0.22 announced Shareholders will receive a dividend of CN¥0.22. Ex-date: 26th May 2026 Payment date: 30th June 2026 Dividend yield will be 6.5%, which is lower than the industry average of 8.3%. Sustainability & Growth The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 56% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.9% EPS decline seen over the last 5 years. Announcement • Apr 17
Dongguan Rural Commercial Bank Co., Ltd., Annual General Meeting, May 21, 2026 Dongguan Rural Commercial Bank Co., Ltd., Annual General Meeting, May 21, 2026. New Risk • Mar 31
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 7.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.0% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Mar 29
Full year 2025 earnings released: EPS: CN¥0.56 (vs CN¥0.67 in FY 2024) Full year 2025 results: EPS: CN¥0.56 (down from CN¥0.67 in FY 2024). Revenue: CN¥8.31b (down 5.9% from FY 2024). Net income: CN¥3.85b (down 17% from FY 2024). Profit margin: 46% (down from 52% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 21% per year. Announcement • Mar 17
Dongguan Rural Commercial Bank Co., Ltd. to Report Fiscal Year 2025 Results on Mar 27, 2026 Dongguan Rural Commercial Bank Co., Ltd. announced that they will report fiscal year 2025 results on Mar 27, 2026 Announcement • Jan 08
Dongguan Rural Commercial Bank Co., Ltd. Announces Board and Supervisors Changes Dongguan Rural Commercial Bank Co., Ltd. held the 2026 first extraordinary general meeting, held on January 8, 2026, announced Mr. Chan Kwok Fung, Dennis, Mr. Li Yanwen, Ms. Zhang Shuangmei and Ms. Wang Zhifang were approved by the Shareholders at the 2026 first extraordinary general meeting to serve as independent non-executive Directors of the fifth session of Board of Directors of the Bank. The appointment of Mr. Chan Kwok Fung, Dennis, Mr. Li Yanwen, Ms. Zhang Shuangmei and Ms. Wang Zhifang as independent non-executive Directors shall take effect upon the approval of the National Financial Regulatory Administration Dongguan Branch. The Bank will make announcement in due course when the appointment takes effect. The audit committee of the Board of Directors shall exercise the powers of the Board of Supervisors as stipulated by the Company Law and other laws, regulations and regulatory rules. The audit department shall be restructured from a body under the senior management to a body under the audit committee of the Board of Directors. The employee directors shall be incorporated into the Board of Directors, and the Articles of Association shall be amended accordingly. The Rules of Procedure of the Board of Supervisors and other rules pertaining to the Board of Supervisors of the Bank shall be repealed simultaneously. All supervisors confirm that they have no disagreement with the Board of Directors and the Board of Supervisors of the Bank, and there are no other matters concerning their cessation that need to be brought to the attention of the Hong Kong Stock Exchange and the Shareholders. Announcement • Nov 22
Dongguan Rural Commercial Bank Co., Ltd. Elects Chen Sheng as Employee Director Dongguan Rural Commercial Bank Co., Ltd. hereby announces that, at the employee representative meeting of the Bank held on November 21, 2025, Mr. Chen Sheng was elected as the employee director of the Bank's fifth session of the Board of Directors, subject to the approval of the regulatory authorities with his term ending upon the expiry of the term of the fifth session of the Board of Directors. Mr. Chen Sheng, aged 51, is a member of the Communist Party of China, holds a bachelor's degree and a master's degree and is an intermediate economist. He is currently a member of the Party Committee and the deputy secretary to the Party Committee of the Bank. Mr. Chen successively served as a staff, deputy chief, chief and assistant researcher at the general office of Guangdong People's Government from July 1996 to March 2006 and was seconded to a task force responsible for investigation under the Disciplinary Committee of Guangdong Province during the period. Mr. Chen served as a deputy head of the office, deputy general manager and general manager of the administration department of Guangdong Province Rural Credit Cooperatives Association and a committee secretary of the Communist Youth League of Guangdong Province Rural Credit Cooperatives Association from March 2006 to October 2012, chairman of the board of supervisors, secretary of the disciplinary committee, and concurrently a committee secretary of the Communist Youth League of Guangdong Province Rural Credit Cooperatives Association of Huizhou Rural Commercial Bank Co., Ltd. from October 2012 to November 2016, chairman of the board of supervisors and secretary of the disciplinary committee of Huizhou Rural Commercial Bank Co., Ltd. from November 2016 to July 2017, and chief officer of the Resident CCPC Office and head of the organization department of the Party Committee of Guangdong Province Rural Credit Cooperatives Association from July 2017 to August 2018. Mr. Chen joined the Bank in August 2018 and successively served as a member of the Party Committee, secretary of the disciplinary committee and chairman of the board of supervisors, ceased to act as the secretary of the disciplinary committee in November 2018 and ceased to act as the chairman of the board of supervisors in November 2025. Upon Mr. Chen's appointment taking effect, Mr. Chen will enter into a director service contract with the Bank, with his term commencing from the effective date of his appointment and ending upon the expiry of the term of the fifth session of the Board of Directors of the Bank. Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: CN¥0.15 (vs CN¥0.20 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.15 (down from CN¥0.20 in 3Q 2024). Revenue: CN¥2.30b (down 4.0% from 3Q 2024). Net income: CN¥1.02b (down 27% from 3Q 2024). Profit margin: 44% (down from 58% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 22% per year. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: CN¥0.14 (vs CN¥0.18 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.14 (down from CN¥0.18 in 2Q 2024). Revenue: CN¥2.17b (down 18% from 2Q 2024). Net income: CN¥995.7m (down 20% from 2Q 2024). Profit margin: 46% (down from 47% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 20% per year. Announcement • Aug 18
Dongguan Rural Commercial Bank Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Dongguan Rural Commercial Bank Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • May 30
Dongguan Rural Commercial Bank Co., Ltd. Approves Final Dividend for the Year Ended 31 December 2024, Payable on 30 June 2025 Dongguan Rural Commercial Bank Co., Ltd. at its AGM held on May 30, 2025 announced distribution of final dividend of RMB 0.25 per share (tax inclusive) for the year ended 31 December 2024 (the "Final Dividend") was approved. The Final Dividend is denominated in RMB, and will be paid to the Domestic Shareholders and H Shareholders in RMB and HKD, respectively. The Final Dividend to be paid to H Shareholders in HKD will be converted at the average middle exchange rate of RMB against HKD announced by the People's Bank of China on the date of approval of the distribution of the Final Dividend (i.e. 30 May 2025) and the four preceding working days, which is HKD 1.00 to RMB 0.91707. Accordingly, the Final Dividend to be paid per H Share is HKD 0.27261 (tax inclusive). The Final Dividend will be distributed on 30 June 2025. The Bank will distribute the Final Dividend to the Shareholders whose name appear on the Bank's register of Shareholders on 10 June 2025. To determine the entitlement of H Shareholders to the Final Dividend, the H Share register of members of the Bank will be closed from 5 June 2025 to 10 June 2025, both days inclusive. Upcoming Dividend • May 27
Upcoming dividend of CN¥0.25 per share Eligible shareholders must have bought the stock before 03 June 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 7.6%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (5.9%). Declared Dividend • May 10
Dividend of CN¥0.25 announced Shareholders will receive a dividend of CN¥0.25. Ex-date: 3rd June 2025 Payment date: 30th June 2025 Dividend yield will be 7.6%, which is lower than the industry average of 8.3%. Sustainability & Growth The dividend has decreased by an average of 4.8% per year over the past 3 years, but has still been somewhat stable with no excessively large reductions to payments. The company's earnings per share (EPS) would need to decline by 59% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.9% EPS decline seen over the last 3 years. Announcement • Apr 13
Dongguan Rural Commercial Bank Co., Ltd. Announces Composition of the Board Committees, Effective April 11, 2025 Dongguan Rural Commercial Bank Co., Ltd. announces the composition of the Board committees upon changes with effect from 11 April 2025: Strategic Decision and Sannong Committee: Mr. LU Guofeng (Chairperson), Mr. FU Qiang,
Mr. QIAN Hua, Ms. LI Huiqin and Mr. WONG Wai Hung; Consumer Rights Protection Committee: Mr. FU Qiang (Chairperson), Mr. TANG Wencheng and Mr. TAN Fulong; Comprehensive Risk Management Committee: Mr. YE Jianguang (Chairperson), Mr. ZENG Jianhua and Mr. XU Zhi; Nomination and Remuneration Committee: Mr. ZENG Jianhua (Chairperson), Mr. QIAN Hua and Ms. XU Tingting; Audit Committee: Mr. XU Zhi (Chairperson), Mr. CHAN Ho Fung and Ms. LIU Yuou. Announcement • Apr 11
Dongguan Rural Commercial Bank Co., Ltd., Annual General Meeting, May 30, 2025 Dongguan Rural Commercial Bank Co., Ltd., Annual General Meeting, May 30, 2025. Announcement • Apr 01
Dongguan Rural Commercial Bank Co., Ltd. Announces Board and Committee Resignations The board of directors of Dongguan Rural Commercial Bank Co., Ltd. (the "Bank") hereby announced that Mr. YE Jinquan ("Mr. Ye") has submitted his resignation to the Board to resign from the positions of the non-executive Director of the Bank, a member of the strategic decision and sannong committee and a member of the nomination and remuneration committee of the Board due to his term of office reaching the prescribed limit. Mr. ZHANG Qingxiang ("Mr. Zhang") has submitted his resignation to the Board to resign from the positions of the non-executive Director of the Bank and a member of the consumer rights protection committee of the Board due to work arrangements. Mr. CHEN Weiliang ("Mr. Chen") has submitted his resignation to the Board to resign from the positions of the non-executive Director of the Bank and a member of the audit committee of the Board due to work arrangements. These resignations will take effect from 31 March 2025. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: CN¥0.67 (vs CN¥0.75 in FY 2023) Full year 2024 results: EPS: CN¥0.67 (down from CN¥0.75 in FY 2023). Revenue: CN¥8.83b (down 11% from FY 2023). Net income: CN¥4.62b (down 10% from FY 2023). Profit margin: 52% (in line with FY 2023). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Banks industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Announcement • Mar 18
Dongguan Rural Commercial Bank Co., Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 Dongguan Rural Commercial Bank Co., Ltd. announced that they will report fiscal year 2024 results on Mar 28, 2025 Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$4.60, the stock trades at a trailing P/E ratio of 6.4x. Average forward P/E is 5x in the Banks industry in Hong Kong. Total loss to shareholders of 29% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$4.09, the stock trades at a trailing P/E ratio of 5.6x. Average forward P/E is 4x in the Banks industry in Hong Kong. Total loss to shareholders of 34% over the past three years. Reported Earnings • Oct 31
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: CN¥2.39b (up 1.9% from 3Q 2023). Net income: CN¥1.39b (down 6.1% from 3Q 2023). Profit margin: 58% (down from 63% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 30
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: CN¥2.65b (down 15% from 2Q 2023). Net income: CN¥1.25b (down 24% from 2Q 2023). Profit margin: 47% (down from 52% in 2Q 2023). The decrease in margin was driven by lower revenue. Announcement • Aug 20
Dongguan Rural Commercial Bank Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Dongguan Rural Commercial Bank Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to HK$4.99, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 5x in the Banks industry in Hong Kong. Total loss to shareholders of 26% over the past year. Announcement • May 31
Dongguan Rural Commercial Bank Co., Ltd. Announces Board and Committee Changes Dongguan Rural Commercial Bank Co., Ltd. announced that at the AGM held on 30 May 2024 approved the appointment of Mr. Fu Qiang, Mr. Qian Hua as executive directors, Ms. Li Huiqin, Mr. Wong Wai Hung, Mr. Chan Ho Fung as Non-Executive Directors. The company approved the appointment of Ms. Deng Qian, Mr. Cai Junbang, Mr. Liu Jiahao, Mr. Li Guoyu as shareholder supervisors and Ms. Wei Haiying and Mr. Liu Sheng as External Supervisor of the Fifth Session of the Board of Supervisors. Mr. Lai Chun Tung, Mr. Wang Junyang, Mr. Cai Guowei and Mr. Chen Haitao have retired as Directors of the Bank upon the end of the 2023 AGM. The Board further announced the compositions of the fifth session of the Board committees: Strategic Decision and Sannong Committee: Mr. Lu Guofeng (Chairperson), Mr. Fu Qiang, Mr. Qian Hua, Ms. Li Huiqin and Mr. Ye Jinquan; Comprehensive Risk Management Committee: Mr. Ye Jianguang (Chairperson), Mr. Chan Ho Fung, Mr. Zeng Jianhua, Mr. Xu Zhi and Ms. Xu Tingting; Nomination and Remuneration Committee: Mr. Yip Tai Him (Chairperson), Mr. Qian Hua, Mr. Ye Jinquan, Mr. Zeng Jianhua and Ms. Xu Tingting; Related Party Transaction Control Committee: Mr. Tan Fulong (Chairperson), Mr. Ye Jianguang and Ms. Liu Yuou; Audit Committee: Mr. Xu Zhi (Chairperson), Mr. Chen Weiliang and Ms. Liu Yuou; Consumer Rights Protection Committee: Mr. Fu Qian (Chairperson), Mr. Wong Wai Hung, Mr. Zhang Qingxiang, Mr. Tang Wencheng and Mr. Tan Fulong. Ms. Deng Yanwen, Mr. Wu Lixin, Mr. Liang Zhifeng, Mr. Lu Chaoping, Mr. Wang Zhujin, Mr. Liang Jiepeng, Mr. Zou Zhibiao and Mr. Yang Biao have retired as the Supervisors of the Bank with effect from 30 May 2024. Upcoming Dividend • May 28
Upcoming dividend of CN¥0.27 per share Eligible shareholders must have bought the stock before 04 June 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Hong Kong dividend payers (7.5%). Lower than average of industry peers (6.8%). Declared Dividend • May 11
Dividend of CN¥0.27 announced Shareholders will receive a dividend of CN¥0.27. Ex-date: 4th June 2024 Payment date: 31st July 2024 Dividend yield will be 4.0%, which is lower than the industry average of 8.3%. Sustainability & Growth The dividend has decreased by an average of 4.4% per year over the past 2 years, but has still been somewhat stable with no excessively large reductions to payments. The company's earnings per share (EPS) would need to decline by 61% to shift the payout ratio to a potentially unsustainable range, which is more than the 13% EPS decline seen over the last year. Reported Earnings • Apr 30
First quarter 2024 earnings released First quarter 2024 results: Revenue: CN¥2.85b (down 5.0% from 1Q 2023). Net income: CN¥1.92b (down 1.4% from 1Q 2023). Profit margin: 67% (up from 65% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Banks industry in Hong Kong. Announcement • Mar 27
Dongguan Rural Commercial Bank Co., Ltd. Announces Final Ordinary Dividend for the Year Ended 31 December 2023 Payable on 31 July 2024 Dongguan Rural Commercial Bank Co., Ltd. announced final ordinary dividend of RMB 0.265 per share for the year ended 31 December 2023 payable on 31 July 2024. Announcement • Mar 15
Dongguan Rural Commercial Bank Co., Ltd. to Report Fiscal Year 2023 Results on Mar 26, 2024 Dongguan Rural Commercial Bank Co., Ltd. announced that they will report fiscal year 2023 results on Mar 26, 2024 Reported Earnings • Aug 30
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: CN¥3.13b (flat on 2Q 2022). Net income: CN¥1.64b (down 6.3% from 2Q 2022). Profit margin: 52% (down from 55% in 2Q 2022). Announcement • Aug 18
Dongguan Rural Commercial Bank Co., Ltd. to Report First Half, 2023 Results on Aug 29, 2023 Dongguan Rural Commercial Bank Co., Ltd. announced that they will report first half, 2023 results on Aug 29, 2023 Buying Opportunity • Jun 29
Now 20% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be HK$9.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$7.66, the stock trades at a trailing P/E ratio of 8x. Average forward P/E is 4x in the Banks industry in Hong Kong. Total returns to shareholders of 6.9% over the past year. Upcoming Dividend • May 23
Upcoming dividend of CN¥0.29 per share at 4.7% yield Eligible shareholders must have bought the stock before 30 May 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 4.7%. Lower than top quartile of Hong Kong dividend payers (7.6%). Lower than average of industry peers (7.4%). Reported Earnings • May 03
First quarter 2023 earnings released First quarter 2023 results: Revenue: CN¥3.00b (up 1.6% from 1Q 2022). Net income: CN¥1.95b (up 8.5% from 1Q 2022). Profit margin: 65% (up from 61% in 1Q 2022). The increase in margin was primarily driven by lower expenses. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: CN¥0.86 (vs CN¥0.93 in FY 2021) Full year 2022 results: EPS: CN¥0.86. Revenue: CN¥11.0b (up 4.2% from FY 2021). Net income: CN¥5.93b (up 6.1% from FY 2021). Profit margin: 54% (in line with FY 2021). Announcement • Dec 20
Dongguan Rural Commercial Bank Co., Ltd. Announces the Removal of Mr. Chen Wei as Executive Director Dongguan Rural Commercial Bank Co., Ltd. announced that at the EGM was held on 19 December 2022, the company approved the Removal of Mr. Chen Wei as Executive Director, with effect from the conclusion of the EGM. Announcement • Sep 07
Dongguan Rural Commercial Bank Co., Ltd. Announces Executive Changes Dongguan Rural Commercial Bank Co., Ltd. announced the appointment of Mr. Tang as non-executive Director and Mr. Zeng as independent non-executive Director have taken effect on 6 September 2022. Mr. Tang and Mr. Zeng shall hold office until the end of the term of the fourth session of the Board of Directors. Mr. Tang is now 43, Mr. Zeng's appointment as independent non-executive director of Bank of Tianjin Co., Ltd. (Stock Code: 1578.HK) has taken effect on 18 August 2022 and Mr. Zeng has ceased to be an independent non-executive director of Jiangsu Tongda Power Technology Co., Ltd. in May 2022, the biographical details of Mr. Tang and Mr. Zeng contained in the Circular remain accurate and up to date. Save as disclosed in the Circular and the foregoing, there are no other information required to be disclosed pursuant to any of the requirements under Rule 13.51(2) of the Listing Rules. Following the appointment of Mr. Zeng taking effect, the resignation of Mr. Shi as an independent non-executive Director has also taken effect on 6 September 2022. Mr. Shi has confirmed that he has no disagreement with the Board of Directors and there is no matter relating to his resignation that needs to be brought to the attention of the Shareholders or the Hong Kong Stock Exchange. The Board would like to take this opportunity to express its gratitude to Mr.Shi for his contributions during his tenure of office and to welcome Mr. Tang and Mr. Zeng to the Board. Reported Earnings • Sep 01
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: CN¥3.15b (flat on 2Q 2021). Net income: CN¥1.74b (up 16% from 2Q 2021). Profit margin: 55% (up from 48% in 2Q 2021). Announcement • Aug 18
Dongguan Rural Commercial Bank Co., Ltd. to Report First Half, 2022 Results on Aug 30, 2022 Dongguan Rural Commercial Bank Co., Ltd. announced that they will report first half, 2022 results on Aug 30, 2022 Announcement • Apr 07
Dongguan Rural Commercial Bank Co., Ltd., Annual General Meeting, May 23, 2022 Dongguan Rural Commercial Bank Co., Ltd., Annual General Meeting, May 23, 2022. Announcement • Mar 31
Dongguan Rural Commercial Bank Co., Ltd. Announces Board Changes Dongguan Rural Commercial Bank Co., Ltd. announced that Mr. Shi Wenfeng has tendered his resignation (i) as an independent non-executive Director, which will take effect upon the aforementioned appointment of Mr. Zeng taking effect and (ii) as the chairman of the Related Party Transaction Control Committee of the Board with effect from 30 March 2022. Ms. Liu Yuou has been appointed as the chairlady of the Related Party Transaction Control Committee of the Board with effect from 30 March 2022. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: CN¥0.93 (vs CN¥0.85 in FY 2020) Full year 2021 results: EPS: CN¥0.93 (up from CN¥0.85 in FY 2020). Revenue: CN¥10.6b (up 14% from FY 2020). Net income: CN¥5.59b (up 15% from FY 2020). Profit margin: 53% (in line with FY 2020). Net interest margin (NIM): 1.96% (down from 2.16% in FY 2020). Cost-to-income ratio: 34.2% (up from 31.5% in FY 2020). Non-performing loans: 0.80% (up from 0.78% in FY 2020). Over the next year, revenue is forecast to grow 33%, compared to a 33% growth forecast for the banks industry in Hong Kong. Recent Insider Transactions • Dec 04
Insider recently sold HK$6.7m worth of stock On the 2nd of December, Tak Cheung Yam sold around 903k shares on-market at roughly HK$7.40 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS CN¥0.23 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2021 results: Revenue: CN¥2.60b (down 10% from 3Q 2020). Net income: CN¥1.58b (down 6.6% from 3Q 2020). Profit margin: 61% (up from 59% in 3Q 2020). The increase in margin was driven by lower expenses. Reported Earnings • Oct 03
Second quarter 2021 earnings released: EPS CN¥0.26 (vs CN¥0.24 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥3.13b (up 4.9% from 2Q 2020). Net income: CN¥1.50b (up 10% from 2Q 2020). Profit margin: 48% (up from 46% in 2Q 2020). 
