Financials Kingfa Sci. & Tech. Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 18:00:00 2024-04-29 EDT			5-day change	1st Jan Change
7.46 ^CNY	-0.27%		+2.75%	-6.63%

04-29	Kingfa Sci. & Tech. Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
04-29	Kingfa Sci. & Tech. Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	18,736	44,112	32,376	25,748	21,349	19,923	-	-
Enterprise Value (EV) ¹	29,023	50,332	45,582	25,748	21,349	19,923	19,923	19,923
P/E ratio	15.4 x	9.62 x	19.5 x	12.6 x	67.1 x	17.3 x	8.2 x	-
Yield	1.37%	3.5%	1.59%	2.37%	-	-	-	-
Capitalization / Revenue	0.64 x	1.26 x	0.81 x	0.64 x	0.45 x	0.39 x	0.36 x	0.32 x
EV / Revenue	0.64 x	1.26 x	0.81 x	0.64 x	0.45 x	0.39 x	0.36 x	0.32 x
EV / EBITDA	8.06 x	6.77 x	9.7 x	7.11 x	8.97 x	5.29 x	3.8 x	3.8 x
EV / FCF	-	-	-7,948,052 x	-7,958,327 x	-	-	-	-
FCF Yield	-	-	-0%	-0%	-	-	-	-
Price to Book	1.78 x	2.97 x	2.16 x	1.56 x	1.31 x	1.15 x	0.99 x	1.01 x
Nbr of stocks (in thousands)	2,573,622	2,573,622	2,573,622	2,657,197	2,672,009	2,670,649	-	-
Reference price ²	7.280	17.14	12.58	9.690	7.990	7.460	7.460	7.460
Announcement Date	20-04-28	21-03-29	22-04-25	23-04-24	24-04-29	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	29,286	35,061	40,199	40,412	47,941	50,636	54,788	61,937
EBITDA ¹	2,325	6,516	3,338	3,620	2,381	3,768	5,247	5,244
EBIT ¹	1,410	5,261	1,917	2,042	190.8	1,926	2,672	2,345
Operating Margin	4.82%	15.01%	4.77%	5.05%	0.4%	3.8%	4.88%	3.79%
Earnings before Tax (EBT) ¹	1,401	5,204	1,902	2,028	164	1,338	2,652	2,324
Net income ¹	1,245	4,588	1,661	1,992	316.7	1,161	2,424	2,015
Net margin	4.25%	13.08%	4.13%	4.93%	0.66%	2.29%	4.42%	3.25%
EPS ²	0.4740	1.783	0.6456	0.7677	0.1190	0.4300	0.9100	-
Free Cash Flow	-	-	-4,073	-3,235	-	-	-	-
FCF margin	-	-	-10.13%	-8.01%	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	0.1000	0.6000	0.2000	0.2300	-	-	-	-
Announcement Date	20-04-28	21-03-29	22-04-25	23-04-24	24-04-29	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	10,287	6,220	13,206	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.425 x	0.9545 x	3.956 x	-	-	-	-	-
Free Cash Flow	-	-	-4,073	-3,235	-	-	-	-
ROE (net income / shareholders' equity)	12.1%	36.2%	10.6%	12.7%	1.93%	6.19%	11.5%	9.45%
ROA (Net income/ Total Assets)	4.82%	14.9%	-	-	-	3.9%	5.4%	-
Assets ¹	25,814	30,813	-	-	-	29,769	44,880	-
Book Value Per Share ²	4.100	5.770	5.820	6.220	6.120	6.460	7.530	7.420
Cash Flow per Share ²	1.060	2.420	0.8600	1.290	0.9000	2.540	0.2000	3.110
Capex ¹	1,303	2,814	6,288	6,667	-	554	876	454
Capex / Sales	4.45%	8.03%	15.64%	16.5%	-	1.09%	1.6%	0.73%
Announcement Date	20-04-28	21-03-29	22-04-25	23-04-24	24-04-29	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

7.46 CNY

Average target price

10.08 CNY

Spread / Average Target

+35.19%

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