Financials C&D International Investment Group Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:09:00 2024-05-03 EDT			5-day change	1st Jan Change
17 ^HKD	+4.55%		+17.08%	+2.16%

05-01	C&D International Investment's 2023 Profit, Revenue Rise	MT
04-29	C&D International Investment Group Limited Announces Change of Executive Director	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,334	11,885	18,457	34,921	28,671	29,845	-	-
Enterprise Value (EV) ¹	7,334	11,885	18,457	34,921	28,671	55,791	57,676	58,647
P/E ratio	5.45 x	5.26 x	5.27 x	7.73 x	6.41 x	5.64 x	5.24 x	4.67 x
Yield	9.31%	-	14%	5.71%	-	8.35%	8.57%	9.03%
Capitalization / Revenue	0.41 x	0.28 x	0.35 x	0.35 x	0.21 x	0.21 x	0.19 x	0.18 x
EV / Revenue	0.41 x	0.28 x	0.35 x	0.35 x	0.21 x	0.39 x	0.37 x	0.35 x
EV / EBITDA	-	2.11 x	-	4.16 x	3.28 x	5.73 x	5.56 x	4.83 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1 x	1.43 x	1.52 x	-	-	0.85 x	0.77 x	0.66 x
Nbr of stocks (in thousands)	909,865	1,176,711	1,377,820	1,738,021	1,895,684	1,895,684	-	-
Reference price ²	8.061	10.10	13.40	20.09	15.12	15.06	15.06	15.06
Announcement Date	20-03-20	21-03-26	22-03-25	23-03-30	24-03-21	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	17,995	42,744	53,442	99,636	134,430	142,799	156,703	166,691
EBITDA ¹	-	5,622	-	8,393	8,739	9,737	10,382	12,141
EBIT ¹	3,690	5,582	5,842	8,274	8,588	9,518	9,512	10,262
Operating Margin	20.5%	13.06%	10.93%	8.3%	6.39%	6.67%	6.07%	6.16%
Earnings before Tax (EBT) ¹	3,426	4,963	5,678	-	8,583	10,716	11,514	12,304
Net income ¹	1,718	2,322	3,517	-	5,035	5,390	5,774	6,566
Net margin	9.55%	5.43%	6.58%	-	3.75%	3.77%	3.68%	3.94%
EPS ²	1.480	1.920	2.540	2.600	2.360	2.668	2.874	3.224
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.7501	-	1.870	1.147	-	1.257	1.290	1.360
Announcement Date	20-03-20	21-03-26	22-03-25	23-03-30	24-03-21	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	25,945	27,831	28,802
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	2.665 x	2.681 x	2.372 x
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	26.2%	29.7%	15.8%	16.8%	-	15.3%	14.4%	13.8%
ROA (Net income/ Total Assets)	-	1.55%	1.33%	-	-	1.09%	1.11%	1.08%
Assets ¹	-	149,503	263,467	-	-	494,465	521,331	609,812
Book Value Per Share ²	8.020	7.070	8.790	-	-	17.80	19.60	22.70
Cash Flow per Share ²	-	-	5.210	2.170	-	3.720	4.800	3.100
Capex ¹	29.7	54.8	90.1	107	-	183	172	192
Capex / Sales	0.16%	0.13%	0.17%	0.11%	-	0.13%	0.11%	0.12%
Announcement Date	20-03-20	21-03-26	22-03-25	23-03-30	24-03-21	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

15.06 CNY

Average target price

17.74 CNY

Spread / Average Target

+17.83%

	1st Jan change	Capi.
C&D INTERNATIONAL INVESTMENT GROUP LIMITED	+2.16%	3.94B
MITSUI FUDOSAN CO., LTD.	+40.41%	29.49B
SUN HUNG KAI PROPERTIES LIMITED	-11.60%	27.43B
CHINA RESOURCES LAND LIMITED	+7.86%	27.14B
DLF LIMITED	+20.90%	26.59B
MITSUBISHI ESTATE CO., LTD.	+49.25%	23.87B
CHINA OVERSEAS LAND & INVESTMENT LTD.	+13.23%	21.03B
EMAAR PROPERTIES	-1.52%	19.01B
SUMITOMO REALTY & DEVELOPMENT CO., LTD.	+28.90%	16.66B
CK ASSET HOLDINGS LIMITED	-13.27%	15.27B