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Ruifeng Bank (601528): Q1 revenue maintained rapid growth, asset quality remained stable
Key investment points: Rui Fung Bank's 24Q1 revenue maintained rapid growth, asset quality remained stable, and we gave it a “superior to the market” rating. The 24Q1 revenue growth rate maintained rapid growth. Rui Fung Bank's revenue growth rate in 2024Q1 was 15
Taking over the shares of the former top 500 private enterprises, Keqiao Transformation and Upgrading Company will become the second largest shareholder of Shaoxing Bank and the largest shareholder of Ruifeng Bank at the beginning of the year
① The Shaoxing Bank shareholder qualification of Keqiao Transformation and Upgrading Company was approved, and the supervisory authority agreed to transfer a total of 9.12% of the shares of Jinggong Group and Shaoxing Zhongfu. ② The transferred shares indicate that all of them have been pledged. A relevant person from the board of directors of Shaoxing Bank said that the transfer will greatly ease shareholders' equity pledge issues. ③ The actual controller of Keqiao Transformation and Upgrading Company is the Keqiao District Finance Bureau. It just completed the transfer in February this year to become the largest shareholder of Ruifeng Bank.
The A-share banking sector fluctuated and rose in the afternoon. Bank of Ningbo and Shanghai Agricultural Commercial Bank rose more than 3%, Postbank and China Merchants Bank rose more than 2%, and Ruifeng Bank, Bank of Hangzhou, SPD Bank, and Bank of Che
The A-share banking sector fluctuated and rose in the afternoon. Bank of Ningbo and Shanghai Agricultural Commercial Bank rose more than 3%, Postbank and China Merchants Bank rose more than 2%, and Ruifeng Bank, Bank of Hangzhou, SPD Bank, and Bank of Chengdu followed suit.
Shen Wan Hongyuan: Delivering at the bottom of 24Q1 results focuses on high-quality urban agricultural commercial banks whose valuations are close to the sector average
The Zhitong Finance App learned that Shen Wan Hongyuan released a research report saying that the first quarterly report was the fulfillment of expectations to the bottom of performance. The period of greatest pressure on banking performance throughout the year was also the first half of the year. High dividend returns with stable profits and stable dividends in the banking sector are still the focus of short-term market capital. At the same time, attention should be paid to internal sector rotation and focus on high-quality urban agricultural commercial banks whose valuations are close to the average level of the sector. In terms of individual stocks, grasp the two main lines of “high-quality growth” and “steady dividends”. Recommended targets: 1) High-quality regional banks with better performance than peers and dynamic high dividend attributes, Bank of Suzhou (002966.SZ), Sunong Bank (
Rui Fung Bank (601528): Performance growth underlies overall revenue growth in the three categories
The incident describes the release of Rui Fung Bank's 2024 quarterly report. Operating revenue increased 15.3% year over year, with net interest income up 5.6% year on year and net profit to mother up 14.7% year on year. The non-performing loan ratio remained flat at 0.97%, adjusted
Ruifeng Bank (601528): High scale+superior investment return performance supports both revenue and profit growth
Incident: Rui Fung Bank released its quarterly results, achieving operating income of 1.06 billion yuan (+15.3% YoY), net profit to mother of 40 million yuan (YoY +14.7%), and a non-performing rate of 0.97% at the end of March, which was the same. Performance:
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