WSBC Latest Report

Performance of the Quarterly Report

WSBC's total operating revenue in 2024 was RMB162,894,000 (approximately USD16.3 million), up 10.14% from RMB147,833,000 (approximately USD14.8 million) in 2023. This growth indicates positive performance in revenue generation, possibly related to business expansion, increased market demand, or optimized product and service offerings.

Key Data in the Quarterly Report

1. Total operating revenue in 2024 was RMB162,894,000, up 10.14% YoY.

2. Commission expenses slightly decreased to RMB24.3 million, contributing to the improvement in net income.

3. EBIT was RMB185,114,000, with a slight decrease but maintaining profitability.

4. The overall market environment may have enhanced business demand due to economic recovery and changes in interest rate policies.

Industry Comparison

1. Industry-wide analysis: In 2024, the financial services industry generally benefited from rising interest rates and economic recovery, with a general increase in operating revenue. WSBC's performance growth reflects this trend, but its relative performance needs further evaluation.

2. Peer evaluation analysis: WSBC's operating revenue growth rate of 10.14% is in the middle-to-upper level in the industry, but its operating revenue in the 2024 Q3 report showed a YoY decrease of 2.35%, relatively weaker than its peers, which needs attention to its market share.

Summary

WSBC's operating revenue growth is affected by various factors, including commission expense control and increased market demand. However, the overall decline in profitability and comparison with peers show the company's pressure in the market competition, especially in its performance in insurance business.

Opportunities

1. Continue to optimize products and services to adapt to market demand and enhance operating revenue.

2. Take advantage of the overall economic recovery to expand credit and other financial services.

3. Improve the market performance of insurance business to enhance overall profitability.

4. Focus on the configuration opportunities of bank stocks, especially in the high dividend market environment.

Risks

1. Increased competition with other banks in the industry may affect market share.

2. Poor market performance in insurance business may negatively impact overall profitability.

3. Uncertainty brought by changes in interest rate policies may affect the activity of credit business.

4. Fluctuations in operating revenue in the second half of 2024 need attention to the impact of the economic environment on the banking industry.