Financials Chengdu Haoneng Technology Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 18:00:00 2024-05-14 EDT			5-day change	1st Jan Change
13.11 ^CNY	+1.24%		-4.45%	+10.63%

05-07	China stocks edge down; HK shares fall after 10-day winning streak	RE
04-26	Chengdu Haoneng Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,476	6,230	4,190	4,657	5,152	-	-
Enterprise Value (EV) ¹	4,476	6,230	4,190	4,657	5,152	5,152	5,152
P/E ratio	24.7 x	31.2 x	19.8 x	25.4 x	15.9 x	12.8 x	9.57 x
Yield	-	0.97%	1.69%	1.69%	2.52%	3.05%	-
Capitalization / Revenue	3.82 x	4.31 x	2.85 x	2.39 x	2.08 x	1.74 x	1.42 x
EV / Revenue	3.82 x	4.31 x	2.85 x	2.39 x	2.08 x	1.74 x	1.42 x
EV / EBITDA	-	18.1 x	9.2 x	10.6 x	8.03 x	6.61 x	6.01 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	2.57 x	3.38 x	2.07 x	2.16 x	2.07 x	1.86 x	1.61 x
Nbr of stocks (in thousands)	393,754	393,754	393,754	393,016	393,017	-	-
Reference price ²	11.37	15.82	10.64	11.85	13.11	13.11	13.11
Announcement Date	4/26/21	3/28/22	4/20/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,171	1,444	1,472	1,946	2,476	2,962	3,636
EBITDA ¹	-	343.6	455.2	438.7	641.5	779.5	858
EBIT ¹	222	250.7	244.6	217	376.5	470.5	614
Operating Margin	18.96%	17.36%	16.62%	11.15%	15.2%	15.88%	16.89%
Earnings before Tax (EBT) ¹	220.5	250.5	243.1	217.2	376.5	470.5	614
Net income ¹	176.8	199.6	211.4	182	323	404	540
Net margin	15.1%	13.82%	14.36%	9.35%	13.04%	13.64%	14.85%
EPS ²	0.4606	0.5069	0.5378	0.4659	0.8250	1.025	1.370
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	0.1538	0.1800	0.2000	0.3300	0.4000	-
Announcement Date	4/26/21	3/28/22	4/20/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	10.7%	11.1%	11%	8.39%	13.3%	14.9%	16.9%
ROA (Net income/ Total Assets)	-	5.5%	4.87%	-	5.45%	6.1%	7.2%
Assets ¹	-	3,626	4,340	-	5,927	6,623	7,500
Book Value Per Share ²	4.420	4.680	5.140	5.490	6.340	7.040	8.160
Cash Flow per Share ²	0.6600	1.210	0.7200	0.8200	1.470	1.560	-
Capex ¹	-	584	517	622	456	406	250
Capex / Sales	-	40.41%	35.14%	31.96%	18.39%	13.69%	6.88%
Announcement Date	4/26/21	3/28/22	4/20/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.11 CNY

Average target price

15.35 CNY

Spread / Average Target

+17.09%

	1st Jan change	Capi.
CHENGDU HAONENG TECHNOLOGY CO., LTD.	+10.63%	704M
BREMBO N.V.	+0.31%	3.89B
BETHEL AUTOMOTIVE SAFETY SYSTEMS CO., LTD	-20.48%	3.32B
JTEKT CORPORATION	+1.89%	2.65B
NHK SPRING CO., LTD.	+32.92%	2.22B
HANON SYSTEMS	-22.77%	2.2B
IMOTION AUTOMOTIVE TECHNOLOGY (SUZHOU) CO., LTD.	+76.85%	1.73B
NEXTEER AUTOMOTIVE GROUP LIMITED	-8.52%	1.45B
AOTECAR NEW ENERGY TECHNOLOGY CO., LTD.	-17.85%	1.21B
ZHEJIANG WANLIYANG CO., LTD.	-21.07%	1.08B