Tianjin Bank is the only urban commercial bank located in Tianjin (one of the four municipalities in China). According to the British Journal of experts, among the 1000 major banks in the world, the first-level capital plan as of December 31, 2014 ranked 219th in 2015, rising sharply for two years since 2013. ranked 32nd among all Chinese commercial banks on the list and 9th among China City Commercial Banks. As of September 30, 2015, the total assets, loans and payments and total deposits of the collection were 545.7 billion yuan, 185.7 billion yuan and 328.4 billion yuan respectively. From 2012 to 2014, the aggregate's total assets and profits increased at a compound annual growth rate of 25.8% and 29.6%, respectively, which was higher than the average compound annual growth rate of 21.0% and 16.6% for China's urban commercial banks in the same period, respectively.
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The company is in charge of
(1) due to the huge market opportunities brought about by the rapid development of the regional economy, the strategic policies of the five major countries and the strategic layout of the trans-regional strategy, there is room for rapid growth; (2) the strong corporate banking services are highly compatible with the development of the regional economy, and focus on cultivating a high-growth customer group of high-tech SMEs. (3) through extensive network coverage, efficient public and private transactions, and a close grasp of the development of mutual financial services, the collection of rich and stable personal customer resources has become a great force for the development of financial services; (4) the financial services have become a new engine of business transformation, which has greatly increased the degree of interest and investment, and the integrated financial services platform has expanded rapidly. (5) having well-experienced management staff and high-quality staff, strong foreign investment strategy and modern corporate governance structure; (6) establishing a prudent and comprehensive management system and maintaining excellent assets.
Overview of the industry
With the rapid economic growth of Tianjin, Tianjin's tourism industry has also achieved rapid growth. According to the Tianjin Financial Bank report compiled by the Policy Analysis Group of the Tianjin Branch of the people's Bank of China, as of December 31, 2014, the total deposits and loans of Tianjin banking institutions were 24780 yuan and 23220 billion yuan, respectively, with a compound annual growth rate of 12.3% and 15.8%, respectively.
As the urban commercial bank of the General Department in Tianjin, the collection mainly deals with other commercial banking institutions in Tianjin. As of December 31, 2014, the total assets, stock rights and interests and profits of the collection were 478859.1 million yuan, 28889.9 million yuan and 4429.0 million yuan, respectively. As of December 31, 2014, the bank's total customer deposits and loans were 289467.4 million yuan and 170918.1 million yuan respectively, ranking first among the banking industry in Tianjin.
Profit ability and duty number
Based on the historical records of the past three years, the income of the collection has increased from 6590.0 million in 2012 to 9940.5 in 2014, with a compound annual growth rate of 22.8%. The annual growth rate is 29.6%, with a compound annual growth rate of 29.6%, from 2630.2 million in 2012 to 4417.2 in 2014. The increase in income during the prior period was mainly due to an increase in interest income and hand income and commission income.
Collection purpose
HK $7414.9 of the proceeds from this collection (based on HK $8.48 per share in sales) will be used to strengthen the capital base of the collection to support the continued growth of operations.
Valuation
According to the IPO price HK$7.37 to 9.58, the historical price-to-earnings ratio of Tianjin Bank is 8.5-11.0 times, and the price-to-market ratio is about 1.01-1.26 times. The historical price-to-earnings ratio and price-to-price ratio of 1963.HK, 6138.HK and 3618.HK are 4.72x and 0.84x, 4.40x and 0.60x, respectively. The price-to-earnings ratio and price-to-earnings ratio of 2066.HK, which is mainly in northern China, are 6.81 times and 1.35 times respectively, while those of Tianjin Bank are relatively high. The estimated value of collective investment is similar to that of regional banks, and domestic stocks have been subject to financial requirements and related national policies or tasks in recent years. Coupled with the fact that the market is not low, investors may not be willing to invest heavily in the recent market conditions, so we only recommend investment opportunities.
Negative factor
(1) if the collection fails to effectively maintain the volume of assets (including the bank's loans and non-standardized investments), the transactions, operating conditions and transactions may be significantly adversely affected; (2) the preparation for the loss of the value of the collection may not be sufficient to protect against the actual loss of the future portfolio; (3) the collection may release centralized loans to a number of industries and borrowers. (4) the collection may not be involved in the legal and other disputes in the negotiation process; (5) the warranty or guarantee of the collection of customer payment and payment may not be of sufficient value or may not be fully realized; (6) the market may provide loans generated by loans to small and medium-sized enterprises; (7) the further development of interest rate marketization may have a significant adverse impact on the operating performance of the Bank. (8) more stringent regulatory regulations may have to be observed in the future, and conglomerate stocks (including H-share holders) may face voting restrictions as a result of betting on the Bank's shares; (9) due to large-scale product and service categories and branch networks, will face a variety of challenges.