Bank of Shanghai Co., Ltd.

SHSE:601229 Stock Report

Market Cap: CN¥115.1b

Bank of Shanghai Valuation

Is 601229 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 601229 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 601229 (CN¥8.1) is trading below our estimate of fair value (CN¥22.31)

Significantly Below Fair Value: 601229 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 601229?

Key metric: As 601229 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 601229. This is calculated by dividing 601229's market cap by their current earnings.
What is 601229's PE Ratio?
PE Ratio5.2x
EarningsCN¥21.98b
Market CapCN¥115.07b

Price to Earnings Ratio vs Peers

How does 601229's PE Ratio compare to its peers?

The above table shows the PE ratio for 601229 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.2x
600015 Hua Xia Bank
4.9x6.6%CN¥118.1b
601169 Bank of Beijing
5.3x8.6%CN¥120.1b
000617 CNPC Capital
24.6x10.8%CN¥98.6b
600016 China Minsheng Banking
6.1x7.5%CN¥165.5b
601229 Bank of Shanghai
5.2x5.0%CN¥115.1b

Price-To-Earnings vs Peers: 601229 is good value based on its Price-To-Earnings Ratio (5.2x) compared to the peer average (10.2x).

Price to Earnings Ratio vs Industry

How does 601229's PE Ratio compare vs other companies in the CN Banks Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
601229 5.2xIndustry Avg. 5.8xNo. of Companies16PE0612182430+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 601229 is good value based on its Price-To-Earnings Ratio (5.2x) compared to the CN Banks industry average (5.8x).

Price to Earnings Ratio vs Fair Ratio

What is 601229's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

601229 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.2x
Fair PE Ratio5.6x

Price-To-Earnings vs Fair Ratio: 601229 is good value based on its Price-To-Earnings Ratio (5.2x) compared to the estimated Fair Price-To-Earnings Ratio (5.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 601229 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥8.10
CN¥7.53
-7.1%
18.1%CN¥9.00CN¥5.30n/a4
Nov ’25CN¥7.93
CN¥7.53
-5.1%
18.1%CN¥9.00CN¥5.30n/a4
Oct ’25CN¥7.89
CN¥7.53
-4.6%
18.1%CN¥9.00CN¥5.30n/a4
Sep ’25CN¥7.08
CN¥7.53
+6.3%
18.1%CN¥9.00CN¥5.30n/a4
Aug ’25CN¥7.38
CN¥7.00
-5.1%
15.9%CN¥8.00CN¥5.30n/a4
Jul ’25CN¥7.37
CN¥7.00
-5.0%
15.9%CN¥8.00CN¥5.30n/a4
Jun ’25CN¥7.81
CN¥6.80
-12.9%
16.4%CN¥8.11CN¥5.30n/a5
May ’25CN¥7.30
CN¥6.74
-7.6%
17.8%CN¥8.11CN¥5.00n/a5
Apr ’25CN¥6.78
CN¥6.43
-5.2%
17.8%CN¥8.11CN¥5.00n/a4
Mar ’25CN¥6.57
CN¥6.43
-2.2%
17.8%CN¥8.11CN¥5.00n/a4
Feb ’25CN¥6.37
CN¥6.43
+0.9%
17.8%CN¥8.11CN¥5.00n/a4
Jan ’25CN¥5.97
CN¥6.43
+7.7%
17.8%CN¥8.11CN¥5.00n/a4
Dec ’24CN¥5.96
CN¥6.65
+11.6%
16.6%CN¥8.11CN¥5.00n/a5
Nov ’24CN¥6.08
CN¥6.65
+9.4%
16.6%CN¥8.11CN¥5.00CN¥7.935
Oct ’24CN¥6.17
CN¥6.67
+8.1%
16.1%CN¥8.11CN¥5.10CN¥7.895
Sep ’24CN¥6.03
CN¥6.31
+4.7%
14.1%CN¥7.50CN¥5.10CN¥7.084
Aug ’24CN¥6.17
CN¥6.19
+0.3%
13.9%CN¥7.50CN¥5.10CN¥7.384
Jul ’24CN¥5.75
CN¥6.26
+8.9%
12.3%CN¥7.50CN¥5.40CN¥7.374
Jun ’24CN¥6.16
CN¥6.26
+1.7%
12.3%CN¥7.50CN¥5.40CN¥7.814
May ’24CN¥6.28
CN¥5.95
-5.3%
3.4%CN¥6.20CN¥5.70CN¥7.303
Apr ’24CN¥5.99
CN¥6.63
+10.7%
18.0%CN¥8.68CN¥5.70CN¥6.784
Mar ’24CN¥6.00
CN¥6.87
+14.5%
17.0%CN¥8.68CN¥5.70CN¥6.575
Feb ’24CN¥6.01
CN¥7.22
+20.0%
18.3%CN¥8.94CN¥5.70CN¥6.376
Jan ’24CN¥5.91
CN¥7.22
+22.1%
18.3%CN¥8.94CN¥5.70CN¥5.976
Dec ’23CN¥5.97
CN¥7.33
+22.8%
17.1%CN¥8.94CN¥5.70CN¥5.966
Nov ’23CN¥5.66
CN¥7.33
+29.5%
17.1%CN¥8.94CN¥5.70CN¥6.086

Analyst Forecast: Target price is lower than the current share price.

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