Financials China Power International Development Limited

Equities

2380

HK2380027329

Electric Utilities

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 EDT 5-day change 1st Jan Change
3.17 HKD -0.31% Intraday chart for China Power International Development Limited -1.55% +10.45%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 14,636 13,702 46,343 36,053 32,268 36,299 - -
Enterprise Value (EV) 1 91,966 103,817 150,283 144,724 191,112 197,752 227,440 243,739
P/E ratio 11.5 x 8.22 x -61.1 x 13.2 x 11.9 x 7.46 x 6.09 x 4.89 x
Yield 8.71% 9.3% 1.17% 3.77% 5.06% 6.53% 7.57% 9.2%
Capitalization / Revenue 0.53 x 0.48 x 1.33 x 0.83 x 0.73 x 0.7 x 0.63 x 0.56 x
EV / Revenue 3.31 x 3.65 x 4.33 x 3.31 x 4.32 x 3.81 x 3.97 x 3.79 x
EV / EBITDA 9.18 x 9.14 x 16.3 x 9.48 x 10.7 x 7.78 x 7.65 x 6.69 x
EV / FCF -9.16 x -9.73 x -9.62 x -12.2 x -13 x -16.9 x -25.3 x -288 x
FCF Yield -10.9% -10.3% -10.4% -8.2% -7.72% -5.92% -3.95% -0.35%
Price to Book 0.48 x 0.41 x 1.18 x 0.46 x 0.84 x 0.72 x 0.67 x 0.62 x
Nbr of stocks (in thousands) 9,806,886 9,806,886 10,833,386 12,370,151 12,370,151 12,370,151 - -
Reference price 2 1.492 1.397 4.278 2.914 2.609 2.934 2.934 2.934
Announcement Date 20-03-26 21-03-18 22-03-17 23-03-23 24-03-21 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 27,763 28,428 34,734 43,689 44,262 51,848 57,319 64,354
EBITDA 1 10,014 11,356 9,226 15,265 17,796 25,426 29,730 36,434
EBIT 1 5,196 6,034 3,133 7,604 8,715 13,471 15,568 18,888
Operating Margin 18.71% 21.23% 9.02% 17.41% 19.69% 25.98% 27.16% 29.35%
Earnings before Tax (EBT) 1 2,714 3,826 533.2 3,344 5,427 9,342 11,082 13,344
Net income 1 1,284 1,708 -515.7 2,648 3,084 5,255 6,438 7,463
Net margin 4.63% 6.01% -1.48% 6.06% 6.97% 10.14% 11.23% 11.6%
EPS 2 0.1300 0.1700 -0.0700 0.2200 0.2200 0.3934 0.4821 0.6002
Free Cash Flow 1 -10,043 -10,666 -15,617 -11,870 -14,745 -11,714 -8,976 -847.5
FCF margin -36.17% -37.52% -44.96% -27.17% -33.31% -22.59% -15.66% -1.32%
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.1300 0.1300 0.0500 0.1100 0.1320 0.1915 0.2222 0.2698
Announcement Date 20-03-26 21-03-18 22-03-17 23-03-23 24-03-21 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2021 S1 2022 S1
Net sales 1 - - 20,305
EBITDA - - -
EBIT 1 - - 4,017
Operating Margin - - 19.78%
Earnings before Tax (EBT) 1 - - 1,891
Net income 1 307.6 1,372 849.9
Net margin - - 4.19%
EPS - 0.1300 -
Dividend per Share - - -
Announcement Date 20-03-26 21-09-10 22-08-25
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 77,330 90,116 103,941 108,672 158,843 161,453 191,141 207,440
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 7.723 x 7.936 x 11.27 x 7.119 x 8.926 x 6.35 x 6.429 x 5.694 x
Free Cash Flow 1 -10,043 -10,666 -15,617 -11,870 -14,745 -11,714 -8,976 -848
ROE (net income / shareholders' equity) 4.26% 5.36% -1.49% 4.38% 6.13% 9.99% 11.5% 13.3%
ROA (Net income/ Total Assets) 0.97% 1.15% -0.31% 1.37% 1.19% 1.99% 2.18% 2.35%
Assets 1 132,629 148,119 165,350 193,325 258,612 264,238 294,852 317,387
Book Value Per Share 2 3.090 3.410 3.630 6.330 3.110 4.070 4.350 4.730
Cash Flow per Share 2 0.5300 0.5600 0.1400 0.5100 0.8000 1.290 1.340 1.470
Capex 1 15,201 16,168 16,960 17,596 24,648 28,854 28,100 26,032
Capex / Sales 54.75% 56.87% 48.83% 40.27% 55.69% 55.65% 49.02% 40.45%
Announcement Date 20-03-26 21-03-18 22-03-17 23-03-23 24-03-21 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
2.934 CNY
Average target price
3.479 CNY
Spread / Average Target
+18.57%
Consensus

Annual profits - Rate of surprise

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