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广州农村商业银行股份有限公司(1551.HK)新股速递

Guangzhou Rural Commercial Bank Co., Ltd. (1551.HK) New Stock Express

致富證券 ·  Jun 8, 2017 00:00  · Researches

Main date:

Public release deadline: 12: 00 noon on June 13, 2017 results: June 19, 2017

Listing date: June 20, 2017

The guardian of the meeting:

China International Finance Hong Kong Securities Co., Ltd.

China Merchants coupon (HK) Co., Ltd.

Jianhe International Finance Co., Ltd.

Agricultural International Finance Co., Ltd.

Summary of statistics:

Number of shares sold globally: 1582900000 shares (9.1% are unsold shares) Hong Kong shares sold: 7.5%

Sales: HK $4.99 to HK $5.27

Estimated collection of funds: HK $7.181 billion to HK $7.584 billion

Income per hand: HK $5323.10

A summary of the collection

Market is a business firm whose business is concentrated in the Luozhou area. As of December 31, 2016, except for the Internet service nodes in Zhujiang Village, there were 625 Internet service nodes in Zhujiang Village, of which 618 were in Zhuzhou City, with the largest number of Internet network nodes among all the commercial banks in Zhujiang City. In addition, in order to spread traffic throughout the country, 24 Zhujiang village banks have been set up in nine provinces and municipalities directly under the central government.

According to the data of the Renzhou Branch of the people's Bank of China, as of December 31, 2016, the bank's deposits ranked third among all commercial banks in Taizhou, with a market share of 10.0%. The bank ranks seventh among all commercial banks in Taizhou, with a market share of 7.2%.

Industry summary

According to the statistics of the Municipal Bureau of Statistics, the expenditure of financial institutions in Luzhou increased from 17730 billion yuan in 2011 to 29670 billion yuan in 2016, with a compound annual growth rate of 10.8 percent. The total amount of local and foreign bank deposits increased from 26460 billion yuan in 2011 to 47530 billion yuan in 2016, with a compound annual growth rate of 12.4 percent.

Cymbals

As of December 31, 2014, 2015 and 2016, the bank's payments to approval and retail, real estate, leasing and business services, construction and construction accounted for 71.0%, 69.5% and 70.9% of the company's total expenditure, respectively. If the operating conditions of such businesses or borrowers are changed, the assets, operating conditions and operating conditions of the banks may be significantly adversely affected.

Valuation

According to the IPO documents, it is assumed that the global development sale has been completed on December 31, 2016. according to the expected development of 95.9 shares after the completion of the sale of long-term shares, shares should account for 419.09 to 422.57 billion yuan per person in the non-accounting and integrated tangible assets area. Equivalent to HK $4.96 to HK $5.00 per share after untested tangible assets (at the exchange rate of HK $0.88171 to HK $1).

The translation is provided by third-party software.


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