Financials JINHUI LIQUOR Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 18:00:00 2024-06-27 EDT			5-day change	1st Jan Change
18.17 ^CNY	-1.73%		-3.35%	-26.20%

04-19	JINHUI LIQUOR Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-03	Tranche Update on JINHUI LIQUOR Co.,Ltd.'s Equity Buyback Plan announced on March 16, 2024.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,910	20,539	19,585	13,569	12,489	9,217	-	-
Enterprise Value (EV) ¹	6,910	20,539	19,585	13,569	12,489	9,217	9,217	9,217
P/E ratio	24.9 x	62.3 x	60.3 x	48.6 x	37.9 x	22.5 x	18 x	14.3 x
Yield	1.37%	0.59%	0.57%	1.12%	1.58%	2.16%	2.7%	3.43%
Capitalization / Revenue	4.23 x	11.9 x	11 x	6.75 x	4.9 x	3 x	2.52 x	2.13 x
EV / Revenue	4.23 x	11.9 x	11 x	6.75 x	4.9 x	3 x	2.52 x	2.13 x
EV / EBITDA	-	38.6 x	38.7 x	32.2 x	26.1 x	16 x	13 x	10.6 x
EV / FCF	-	-	88.5 x	51.7 x	32.5 x	22.8 x	22 x	17.2 x
FCF Yield	-	-	1.13%	1.93%	3.08%	4.39%	4.55%	5.82%
Price to Book	2.72 x	7.39 x	6.57 x	4.31 x	3.75 x	2.58 x	2.36 x	2.14 x
Nbr of stocks (in thousands)	507,260	507,260	507,260	507,260	507,260	507,260	-	-
Reference price ²	13.62	40.49	38.61	26.75	24.62	18.17	18.17	18.17
Announcement Date	20-03-30	21-03-19	22-03-15	23-03-22	24-03-15	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,634	1,731	1,788	2,012	2,548	3,071	3,660	4,337
EBITDA ¹	-	532.3	506.6	421	478.9	575.2	706.8	866.8
EBIT ¹	350	434.5	400.9	313.7	396.6	484.6	604.6	750.6
Operating Margin	21.41%	25.1%	22.41%	15.59%	15.57%	15.78%	16.52%	17.31%
Earnings before Tax (EBT) ¹	344.5	421.1	390.1	302.9	379.7	474	593.8	740.6
Net income ¹	270.6	331.3	324.8	280.2	328.9	408.7	514	642.4
Net margin	16.56%	19.14%	18.16%	13.93%	12.91%	13.31%	14.04%	14.81%
EPS ²	0.5462	0.6500	0.6400	0.5500	0.6500	0.8060	1.012	1.267
Free Cash Flow ¹	-	-	221.3	262.3	384.1	405	419	536
FCF margin	-	-	12.37%	13.04%	15.08%	13.19%	11.45%	12.36%
FCF Conversion (EBITDA)	-	-	43.68%	62.31%	80.2%	70.41%	59.28%	61.84%
FCF Conversion (Net income)	-	-	68.13%	93.61%	116.79%	99.11%	81.51%	83.44%
Dividend per Share ²	0.1862	0.2400	0.2200	0.3000	0.3890	0.3925	0.4900	0.6233
Announcement Date	20-03-30	21-03-19	22-03-15	23-03-22	24-03-15	-	-	-

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	-	-	221	262	384	405	419	536
ROE (net income / shareholders' equity)	11.8%	12.5%	11.3%	9.17%	10.2%	11.5%	13.2%	14.9%
ROA (Net income/ Total Assets)	-	-	-	-	7.74%	8.88%	10.2%	11.7%
Assets ¹	-	-	-	-	4,249	4,605	5,051	5,506
Book Value Per Share ²	5.010	5.480	5.880	6.210	6.560	7.050	7.700	8.510
Cash Flow per Share ²	0.7300	0.6600	0.5500	0.6300	0.8900	0.7500	0.9500	1.130
Capex ¹	188	142	58	56.9	66.1	80.8	85.4	103
Capex / Sales	11.5%	8.2%	3.24%	2.83%	2.59%	2.63%	2.33%	2.37%
Announcement Date	20-03-30	21-03-19	22-03-15	23-03-22	24-03-15	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

18.17 CNY

Average target price

24.87 CNY

Spread / Average Target

+36.89%

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