Financials Huaibei Mining Holdings Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 18:00:00 2024-05-06 EDT			5-day change	1st Jan Change
19.44 ^CNY	+1.25%		+1.04%	+16.90%

04-26	Huaibei Mining Holdings Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
03-29	Huaibei Mining's Profit Slips, Operating Income Climbs in 2023	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	21,702	24,310	27,738	31,757	41,260	52,357	-	-
Enterprise Value (EV) ¹	21,702	24,310	27,738	31,757	41,260	52,357	52,357	52,357
P/E ratio	5.95 x	7.77 x	5.48 x	4.79 x	7.08 x	8.46 x	7.86 x	7.25 x
Yield	-	5.81%	6.26%	8.2%	-	5.57%	5.98%	6.56%
Capitalization / Revenue	0.36 x	0.47 x	0.43 x	0.46 x	0.56 x	0.71 x	0.68 x	0.66 x
EV / Revenue	0.36 x	0.47 x	0.43 x	0.46 x	0.56 x	0.71 x	0.68 x	0.66 x
EV / EBITDA	-	-	-	2.45 x	3.59 x	4.75 x	4.37 x	4.05 x
EV / FCF	-	-	-	-	-	8.81 x	11.2 x	12.1 x
FCF Yield	-	-	-	-	-	11.4%	8.93%	8.27%
Price to Book	-	1.14 x	1.02 x	0.95 x	-	1.26 x	1.14 x	1.04 x
Nbr of stocks (in thousands)	2,172,412	2,172,457	2,481,036	2,481,036	2,481,038	2,693,259	-	-
Reference price ²	9.990	11.19	11.18	12.80	16.63	19.44	19.44	19.44
Announcement Date	20-03-27	21-03-26	22-03-22	23-03-28	24-03-28	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	60,086	52,276	64,961	69,225	73,592	73,850	76,804	79,035
EBITDA ¹	-	-	-	12,954	11,493	11,023	11,988	12,930
EBIT ¹	-	4,331	6,214	8,633	7,072	7,176	7,720	8,400
Operating Margin	-	8.28%	9.57%	12.47%	9.61%	9.72%	10.05%	10.63%
Earnings before Tax (EBT) ¹	-	4,290	6,043	8,257	7,056	7,107	7,662	8,346
Net income ¹	-	3,468	4,780	7,010	6,225	6,153	6,624	7,182
Net margin	-	6.63%	7.36%	10.13%	8.46%	8.33%	8.62%	9.09%
EPS ²	1.680	1.440	2.040	2.670	2.350	2.299	2.473	2.683
Free Cash Flow ¹	-	-	-	-	-	5,944	4,676	4,330
FCF margin	-	-	-	-	-	8.05%	6.09%	5.48%
FCF Conversion (EBITDA)	-	-	-	-	-	53.92%	39.01%	33.49%
FCF Conversion (Net income)	-	-	-	-	-	96.6%	70.59%	60.29%
Dividend per Share ²	-	0.6500	0.7000	1.050	-	1.082	1.162	1.275
Announcement Date	20-03-27	21-03-26	22-03-22	23-03-28	24-03-28	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-	-	5,944	4,676	4,330
ROE (net income / shareholders' equity)	-	17%	19.7%	23.1%	-	14.7%	14.5%	14.3%
ROA (Net income/ Total Assets)	-	5.3%	6.81%	8.9%	-	6.83%	7.08%	7.32%
Assets ¹	-	65,481	70,238	78,749	-	90,160	93,623	98,083
Book Value Per Share ²	-	9.800	11.00	13.50	-	15.50	17.00	18.70
Cash Flow per Share ²	-	2.290	4.460	6.720	-	3.640	4.400	4.320
Capex ¹	-	5,536	5,472	7,160	-	5,017	4,728	4,979
Capex / Sales	-	10.59%	8.42%	10.34%	-	6.79%	6.16%	6.3%
Announcement Date	20-03-27	21-03-26	22-03-22	23-03-28	24-03-28	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

19.44 CNY

Average target price

21.5 CNY

Spread / Average Target

+10.60%

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