SMBK Latest Report

Financial Performance

At the end of 2024, Smartfinancial (stock code: SMBK) recorded a total operating revenue of RMB468.13 million, up 19.74% from RMB390.96 million at the end of 2023. This growth reflects the company's strong performance in operating revenue, possibly due to increased market demand, product or service expansion, etc.

Key Financial Data

1. The total operating revenue in Q3 2024 was US$44.1 million, up from the previous year, driven by significant performance in net interest income and non-interest income.

2. Smartfinancial's net income per share was US$0.54, indicating an improvement in overall profitability, further supporting the growth in operating revenue.

3. Despite the challenges faced by the financial services industry in 2024, Smartfinancial demonstrated competitiveness in specific areas and maintained relatively stable revenue growth.

Peer Comparison

1. Industry-wide analysis: The overall operating revenue of the financial services industry in 2024 faced a decline, with a 3% YoY decrease in Q3. Weakening market demand, but Smartfinancial optimized its revenue structure to resist industry pressure and maintained growth.

2. Peer evaluation analysis: Smartfinancial's 19.74% growth rate outperformed the industry, especially in the context of peers' decline, showing its stronger market competitiveness. Compared with the slight growth of RoyalFlush Information and Hengyin Technology, Smartfinancial's growth is more sustainable.

Summary

Smartfinancial's revenue growth in 2024 was mainly driven by the continuous growth of net interest income and non-interest income, despite the challenging overall environment in the financial services industry. The company effectively maintained its market competitiveness through the optimization of existing products and services and the improvement of customer service quality.

Opportunities

1. With the recovery of market demand, Smartfinancial can further develop new products or services to seize the opportunity to expand its customer base.

2. The company can leverage its advantages in net interest income and non-interest income to further enhance its market share.

3. In the context of the industry's overall poor performance, Smartfinancial can achieve business expansion and diversification through strategic cooperation or mergers and acquisitions.

Risks

1. The risk of technological upgrades and product iterations in the industry may affect Smartfinancial's future revenue.

2. Competitors such as Hua Xia Financial may increase market competition through the launch of new products, adding pressure to Smartfinancial.

3. The uncertainty of overall industry demand may lead to Smartfinancial's revenue fluctuations, especially in a slowing economy.