Financials Hexing Electrical Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 18:00:00 2024-04-25 EDT			5-day change	1st Jan Change
45.51 ^CNY	-0.24%		-8.61%	+56.77%

04-22	Hexing Electrical Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-15	Hexing Electrical Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,994	6,719	6,744	8,558	14,116	22,130	-	-
Enterprise Value (EV) ¹	7,994	6,719	6,744	8,558	10,131	18,304	18,169	16,866
P/E ratio	15.8 x	14 x	21.6 x	12.9 x	14.4 x	19.3 x	16.3 x	12.5 x
Yield	-	-	-	-	3.79%	2.56%	3.13%	4.17%
Capitalization / Revenue	2.71 x	2.39 x	-	2.59 x	3.36 x	4.3 x	3.5 x	2.92 x
EV / Revenue	2.71 x	2.39 x	-	2.59 x	2.41 x	3.56 x	2.87 x	2.22 x
EV / EBITDA	-	-	-	10.5 x	9.72 x	14.5 x	11.7 x	8.32 x
EV / FCF	-	-	-	-	11.5 x	58.5 x	59.2 x	18.2 x
FCF Yield	-	-	-	-	8.7%	1.71%	1.69%	5.51%
Price to Book	1.53 x	1.25 x	-	1.44 x	2.14 x	3.1 x	2.81 x	2.46 x
Nbr of stocks (in thousands)	490,401	488,684	488,684	486,264	486,264	486,264	-	-
Reference price ²	16.30	13.75	13.80	17.60	29.03	45.51	45.51	45.51
Announcement Date	20-04-27	21-04-11	22-04-28	23-04-20	24-04-15	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,954	2,806	-	3,310	4,200	5,148	6,331	7,590
EBITDA ¹	-	-	-	811.4	1,042	1,263	1,552	2,027
EBIT ¹	575.4	482.9	-	750.1	1,160	1,285	1,511	1,834
Operating Margin	19.48%	17.21%	-	22.66%	27.63%	24.96%	23.87%	24.16%
Earnings before Tax (EBT) ¹	586.5	533	-	754.3	1,147	1,324	1,570	2,053
Net income ¹	500.5	481.2	313.8	664.3	982.5	1,149	1,366	1,783
Net margin	16.94%	17.15%	-	20.07%	23.39%	22.32%	21.57%	23.5%
EPS ²	1.030	0.9800	0.6400	1.360	2.020	2.353	2.796	3.650
Free Cash Flow ¹	-	-	-	-	881	313	307	929
FCF margin	-	-	-	-	20.97%	6.08%	4.85%	12.24%
FCF Conversion (EBITDA)	-	-	-	-	84.54%	24.77%	19.79%	45.83%
FCF Conversion (Net income)	-	-	-	-	89.67%	27.24%	22.48%	52.09%
Dividend per Share ²	-	-	-	-	1.100	1.165	1.426	1.900
Announcement Date	20-04-27	21-04-11	22-04-28	23-04-20	24-04-15	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	-	-	-	-	3,985	3,826	3,961	5,264
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-	881	313	307	929
ROE (net income / shareholders' equity)	9.99%	8.81%	-	11.7%	15.7%	16.4%	17.9%	20.2%
ROA (Net income/ Total Assets)	-	-	-	-	-	12%	13.3%	14.6%
Assets ¹	-	-	-	-	-	9,549	10,294	12,219
Book Value Per Share ²	10.70	11.00	-	12.20	13.60	14.70	16.20	18.50
Cash Flow per Share ²	1.010	0.8400	-	1.380	2.250	2.130	2.420	4.250
Capex ¹	-	-	-	-	220	323	291	292
Capex / Sales	-	-	-	-	5.24%	6.27%	4.6%	3.84%
Announcement Date	20-04-27	21-04-11	22-04-28	23-04-20	24-04-15	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

45.51 CNY

Average target price

42.32 CNY

Spread / Average Target

-7.02%

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