Financials Accelink Technologies Co,Ltd.

Equities

002281

CNE100000F87

Electronic Equipment & Parts

End-of-day quote Shenzhen S.E. Other stock markets 18:00:00 2024-06-25 EDT			5-day change	1st Jan Change
37.58 ^CNY	+0.37%		+5.33%	+31.86%

06-19	Accelink Technologies Co,Ltd. Announces Board Appointments	CI
05-20	Accelink Technologies Co,Ltd. Approves Cash Dividend for the Year 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	20,162	20,266	16,289	10,975	22,635	29,735	-	-
Enterprise Value (EV) ¹	18,705	17,924	14,057	9,364	19,385	26,217	25,959	25,494
P/E ratio	55.1 x	39.8 x	27.4 x	18.1 x	36.1 x	37.8 x	31.8 x	24.9 x
Yield	0.57%	0.59%	0.73%	1.08%	0.84%	0.58%	0.7%	0.85%
Capitalization / Revenue	3.78 x	3.35 x	2.51 x	1.59 x	3.73 x	3.91 x	3.28 x	2.53 x
EV / Revenue	3.5 x	2.96 x	2.17 x	1.35 x	3.2 x	3.45 x	2.87 x	2.17 x
EV / EBITDA	34.8 x	24.9 x	15.8 x	9.71 x	20.2 x	25.6 x	20.9 x	16.2 x
EV / FCF	-384 x	26.2 x	43 x	44.2 x	51 x	224 x	163 x	58.5 x
FCF Yield	-0.26%	3.81%	2.33%	2.26%	1.96%	0.45%	0.61%	1.71%
Price to Book	4.47 x	4.04 x	2.94 x	1.79 x	2.68 x	3.27 x	3.02 x	2.71 x
Nbr of stocks (in thousands)	677,032	697,852	699,409	698,175	794,202	794,202	-	-
Reference price ²	29.78	29.04	23.29	15.72	28.50	37.44	37.44	37.44
Announcement Date	20-04-14	21-04-13	22-04-14	23-04-25	24-04-25	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	5,338	6,046	6,486	6,912	6,061	7,599	9,056	11,758
EBITDA ¹	537.9	718.5	891.8	963.9	959.5	1,023	1,239	1,571
EBIT ¹	359.7	497.4	620.4	686	656.9	804.1	957.6	1,238
Operating Margin	6.74%	8.23%	9.56%	9.93%	10.84%	10.58%	10.57%	10.53%
Earnings before Tax (EBT) ¹	360	497.8	620	684.9	677.1	846.3	1,016	1,312
Net income ¹	357.7	487.4	567.3	608.4	619.3	788	932.4	1,197
Net margin	6.7%	8.06%	8.75%	8.8%	10.22%	10.37%	10.3%	10.18%
EPS ²	0.5400	0.7300	0.8500	0.8700	0.7900	0.9917	1.177	1.506
Free Cash Flow ¹	-48.66	683.5	326.8	212.1	380.1	117	159	435.5
FCF margin	-0.91%	11.3%	5.04%	3.07%	6.27%	1.54%	1.76%	3.7%
FCF Conversion (EBITDA)	-	95.13%	36.65%	22%	39.61%	11.44%	12.83%	27.73%
FCF Conversion (Net income)	-	140.23%	57.61%	34.86%	61.37%	14.85%	17.05%	36.38%
Dividend per Share ²	0.1700	0.1700	0.1700	0.1700	0.2400	0.2155	0.2613	0.3175
Announcement Date	20-04-14	21-04-13	22-04-14	23-04-25	24-04-25	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales	2,859	2,558	1,757	3,349	1,712	1,830	1,738	1,631	3,370	-	-	-	1,734	3,246	-	-	-	-	-	-
EBITDA	-	-	-	-	222.9	-	324.7	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	213	-	147.1	311.2	149.2	177.9	198.8	160.1	359	-	-	-	231.9	425.1	-	-	-	-	-	-
Operating Margin	7.45%	-	8.37%	9.29%	8.71%	9.72%	11.44%	9.82%	10.65%	-	-	-	13.37%	13.1%	-	-	-	-	-	-
Earnings before Tax (EBT)	213.1	-	146.2	310.5	148.7	178	199.1	159	358.2	-	-	-	231.5	424	-	-	-	-	-	-
Net income	213.8	209.3	110.9	274.6	143.1	167.9	181.1	116.3	297.4	-	-	-	204.9	380.4	-	-	-	-	-	-
Net margin	7.48%	8.18%	6.31%	8.2%	8.36%	9.17%	10.42%	7.13%	8.83%	-	-	-	11.82%	11.72%	-	-	-	-	-	-
EPS ¹	0.3200	-	0.1700	0.4100	0.2100	0.2600	0.2700	0.1300	0.4000	0.1300	0.1900	0.2700	0.2000	0.4700	0.1000	0.2100	0.2600	0.3500	0.2000	0.2600
Dividend per Share	-	-	0.1700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	20-04-14	20-08-25	22-04-14	22-04-14	22-04-21	22-08-25	22-10-27	23-04-25	23-04-25	23-04-25	23-08-25	23-10-27	24-04-25	24-04-25	24-04-25	-	-	-	-	-

¹CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	1,457	2,342	2,233	1,611	3,250	3,518	3,776	4,241
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-48.7	683	327	212	380	117	159	436
ROE (net income / shareholders' equity)	8.83%	10.2%	10.7%	10.4%	8%	9.06%	10.1%	11.1%
ROA (Net income/ Total Assets)	5.37%	6.13%	6.29%	6.14%	5.65%	6.08%	6.75%	7.45%
Assets ¹	6,657	7,955	9,016	9,903	10,966	12,966	13,808	16,070
Book Value Per Share ²	6.660	7.200	7.920	8.760	10.60	11.40	12.40	13.80
Cash Flow per Share ²	0.3900	1.320	0.9600	0.9200	1.320	0.9900	1.150	1.390
Capex ¹	315	236	346	427	670	481	415	299
Capex / Sales	5.9%	3.9%	5.34%	6.18%	11.06%	6.32%	4.59%	2.54%
Announcement Date	20-04-14	21-04-13	22-04-14	23-04-25	24-04-25	-	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Accelink Technologies Co,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

37.44 CNY

Average target price

36.9 CNY

Spread / Average Target

-1.44%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electronic Component

	1st Jan change	Capi.
ACCELINK TECHNOLOGIES CO,LTD.	+31.86%	4.09B
HON HAI PRECISION INDUSTRY CO., LTD.	+100.96%	89.91B
AMPHENOL CORPORATION	+35.08%	81.63B
MURATA MANUFACTURING CO., LTD	+10.26%	38.81B
LUXSHARE PRECISION INDUSTRY CO., LTD.	+10.89%	36.73B
JABIL INC.	-12.10%	13.79B
LENS TECHNOLOGY CO., LTD.	+32.95%	11.52B
COHERENT CORP.	+64.97%	10.92B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-4.03%	10.83B
BYD ELECTRONIC (INTERNATIONAL) COMPANY LIMITED	+3.42%	10.81B

Electronic Component