Projected Income Statement: China United Network Communications Limited

Forecast Balance Sheet: China United Network Communications Limited

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -28,492 -54,843 -43,006 -37,727 -28,889 -57,729 -75,630 -98,316
Change - -92.49% 21.58% 12.28% 23.43% -99.83% -31.01% -30%
Announcement Date 3/11/22 3/8/23 3/4/24 3/18/25 3/19/26 - - -
1CNY in Million
Estimates

Cash Flow Forecast: China United Network Communications Limited

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 69,775 70,776 77,983 73,770 65,889 47,669 48,339 48,609
Change - 1.43% 10.18% -5.4% -10.68% -27.65% 1.41% 0.56%
Free Cash Flow (FCF) 1 42,197 30,932 26,358 17,485 25,521 44,850 38,218 37,565
Change - -26.69% -14.79% -33.67% 45.96% 75.74% -14.79% -1.71%
Announcement Date 3/11/22 3/8/23 3/4/24 3/18/25 3/19/26 - - -
1CNY in Million
Estimates

Forecast Financial Ratios: China United Network Communications Limited

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 27.16% 25.67% 24.2% 24.75% 22.18% 23.45% 23.35% 22.84%
EBIT Margin (%) 5.4% 5.75% 6.12% 5.83% 6.38% 5.75% 5.67% 5.82%
EBT Margin (%) 5.43% 5.74% 6.09% 6.44% 6.45% 6.02% 6.18% 6.2%
Net margin (%) 1.92% 2.06% 2.2% 2.32% 2.33% 2.14% 2.19% 2.18%
FCF margin (%) 12.87% 8.71% 7.07% 4.49% 6.51% 11.48% 9.51% 9.32%
FCF / Net Income (%) 669.21% 423.76% 321.44% 193.63% 279.63% 536.8% 433.65% 426.64%

Profitability

        
ROA 1.1% 1.18% 1.25% 1.35% 1.36% 1.78% 1.8% 1.82%
ROE 4.17% 4.67% 5.08% 5.49% 5.39% 5.32% 5.59% 5.59%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 21.28% 19.94% 20.93% 18.94% 16.8% 12.2% 12.03% 12.06%
CAPEX / EBITDA (%) 78.37% 77.67% 86.5% 76.51% 75.73% 52.04% 51.51% 52.8%
CAPEX / FCF (%) 165.36% 228.81% 295.86% 421.91% 258.18% 106.29% 126.48% 129.4%

Items per share

        
Cash flow per share 1 3.689 3.198 3.281 2.87 2.924 2.647 2.757 2.989
Change - -13.32% 2.59% -12.53% 1.89% -9.48% 4.19% 8.39%
Dividend per Share 1 0.096 0.0427 0.0524 0.0621 0.0523 0.1664 0.177 0.1829
Change - -55.52% 22.72% 18.51% -15.78% 218.09% 6.4% 3.32%
Book Value Per Share 1 4.815 4.854 5.002 5.184 5.392 5.478 5.648 5.752
Change - 0.81% 3.06% 3.63% 4.02% 1.6% 3.1% 1.84%
EPS 1 0.206 0.234 0.261 0.292 0.2921 0.2737 0.2903 0.2921
Change - 13.59% 11.54% 11.88% 0.03% -6.3% 6.07% 0.62%
Nbr of stocks (in thousands) 30,991,393 31,804,436 31,803,992 31,800,581 31,264,425 31,264,425 31,264,425 31,264,425
Announcement Date 3/11/22 3/8/23 3/4/24 3/18/25 3/19/26 - - -
1CNY
Estimates
2026 *2027 *
P/E 14.8x 14x
PBR 0.74x 0.72x
EV / Sales 0.18x 0.13x
Yield 4.11% 4.37%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
CCC
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
7
Last Close Price
4.110CNY
Average target price
4.964CNY
Spread / Average Target
+20.79%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Stocks
  3. 600050 Stock
  4. Financials China United Network Communications Limited