Zhejiang Shaoxing RuiFeng Rural Commercial BankLtd Valuation

Q: What is the Fair Price of 601528 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

601528 (CN¥5.67) is trading below our estimate of [[fair value]] (CN¥11.86)

Is 601528 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

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 601528 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 601528 (CN¥5.67) is trading below our estimate of fair value (CN¥11.86)

Significantly Below Fair Value: 601528 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 601528?

Key metric: As 601528 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 601528. This is calculated by dividing 601528's market cap by their current earnings.
What is 601528's PE Ratio?
PE Ratio	5.8x
Earnings	CN¥1.91b
Market Cap	CN¥11.09b

601528 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	0.6x

Price to Earnings Ratio vs Peers

How does 601528's PE Ratio compare to its peers?

The above table shows the PE ratio for 601528 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	10.4x
601825 Shanghai Rural Commercial Bank	6.3x	3.0%	CN¥77.3b
000617 CNPC Capital	24.9x	10.8%	CN¥98.5b
600015 Hua Xia Bank	5x	6.6%	CN¥118.4b
601229 Bank of Shanghai	5.2x	5.0%	CN¥114.1b
601528 Zhejiang Shaoxing RuiFeng Rural Commercial BankLtd	5.8x	10.2%	CN¥11.1b

Price-To-Earnings vs Peers: 601528 is good value based on its Price-To-Earnings Ratio (5.8x) compared to the peer average (10.4x).

Price to Earnings Ratio vs Industry

How does 601528's PE Ratio compare vs other companies in the CN Banks Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 601528 is expensive based on its Price-To-Earnings Ratio (5.8x) compared to the CN Banks industry average (5.8x).

Price to Earnings Ratio vs Fair Ratio

What is 601528'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.

601528 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	5.8x
Fair PE Ratio	5.3x

Price-To-Earnings vs Fair Ratio: 601528 is expensive based on its Price-To-Earnings Ratio (5.8x) compared to the estimated Fair Price-To-Earnings Ratio (5.3x).

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 601528 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CN¥5.67	CN¥6.44 +13.6%	3.4%	CN¥6.66	CN¥6.22	n/a	2
Nov ’25	CN¥5.18	CN¥6.44 +24.3%	3.4%	CN¥6.66	CN¥6.22	n/a	2
Oct ’25	CN¥5.44	CN¥6.14 +12.8%	1.4%	CN¥6.22	CN¥6.05	n/a	2
Sep ’25	CN¥4.64	CN¥6.14 +32.2%	1.4%	CN¥6.22	CN¥6.05	n/a	2
Aug ’25	CN¥4.90	CN¥6.29 +28.4%	2.4%	CN¥6.50	CN¥6.15	n/a	3
Jul ’25	CN¥4.80	CN¥6.37 +32.7%	2.4%	CN¥6.52	CN¥6.22	n/a	2
Jun ’25	CN¥5.22	CN¥6.37 +22.0%	2.4%	CN¥6.52	CN¥6.22	n/a	2
May ’25	CN¥5.16	CN¥6.37 +23.4%	2.4%	CN¥6.52	CN¥6.22	n/a	2
Apr ’25	CN¥5.02	CN¥6.91 +37.6%	6.2%	CN¥7.34	CN¥6.48	n/a	2
Mar ’25	CN¥5.19	CN¥7.24 +39.4%	1.5%	CN¥7.34	CN¥7.13	n/a	2
Feb ’25	CN¥4.93	CN¥7.24 +46.8%	1.5%	CN¥7.34	CN¥7.13	n/a	2
Jan ’25	CN¥4.95	CN¥7.24 +46.2%	1.5%	CN¥7.34	CN¥7.13	n/a	2
Dec ’24	CN¥5.04	CN¥7.24 +43.6%	1.5%	CN¥7.34	CN¥7.13	n/a	2
Nov ’24	CN¥5.11	CN¥7.24 +41.6%	1.5%	CN¥7.34	CN¥7.13	CN¥5.18	2
Oct ’24	CN¥5.59	CN¥7.45 +33.2%	1.4%	CN¥7.55	CN¥7.34	CN¥5.44	2
Sep ’24	CN¥5.58	CN¥7.45 +33.4%	1.4%	CN¥7.55	CN¥7.34	CN¥4.64	2
Aug ’24	CN¥5.73	CN¥7.45 +30.0%	1.6%	CN¥7.57	CN¥7.33	CN¥4.90	2

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

Chongqing Rural Commercial Bank

HK$63.7b

Engages in the provision of banking services in the People’s Republic of China.

601077

HK$5.61

2.6%

39.6%

Hua Xia Bank

CN¥118.4b

Provides commercial banking services in China and Hong Kong.

600015

CN¥7.52

6.2%

33.6%

China CITIC Bank

HK$355.8b

Provides various banking products and services in the People’s Republic of China and internationally.

601998

HK$6.80

4.0%

24.3%