Projected Income Statement: Kingnet Network Co., Ltd.

Forecast Balance Sheet: Kingnet Network Co., Ltd.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 - - -2,795 -3,242 -4,106 -5,872 -9,453 -12,134
Change - - - -15.99% -26.65% -43.02% -60.98% -28.36%
Announcement Date 4/28/22 4/26/23 4/29/24 4/25/25 4/28/26 - - -
1CNY in Million
Estimates

Cash Flow Forecast: Kingnet Network Co., Ltd.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 153.1 131.5 190.5 263.5 129.2 191.7 201.4 217.3
Change - -14.12% 44.89% 38.35% -50.98% 48.41% 5.04% 7.91%
Free Cash Flow (FCF) 1 - 1,352 - 1,490 2,133 - - -
Change - - - - 43.16% -100% - -
Announcement Date 4/28/22 4/26/23 4/29/24 4/25/25 4/28/26 - - -
1CNY in Million
Estimates

Forecast Financial Ratios: Kingnet Network Co., Ltd.

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

Profitability

        
EBITDA Margin (%) 36.1% 37.49% 39.4% 34.15% 39.38% 38.58% 40.71% 41.17%
EBIT Margin (%) 38.15% 35.98% 39.52% 32.72% 37.2% 36.71% 40.1% 40.96%
EBT Margin (%) 39.41% 37.16% 39.51% 32.69% 37.2% 38.91% 40.31% 41.29%
Net margin (%) 24.28% 27.52% 34.03% 31.82% 35.75% 35.34% 36.95% 37.85%
FCF margin (%) - 36.28% - 29.12% 40.07% - - -
FCF / Net Income (%) - 131.84% - 91.51% 112.07% - - -

Profitability

        
ROA 14.52% - 23.59% 22.25% 18.04% 17.1% 16.1% 14.1%
ROE 18.46% 26.19% 28.85% 27.05% 23.13% 23.87% 22.13% 20.2%

Financial Health

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

Capital Intensity

        
CAPEX / Current Assets (%) 6.44% 3.53% 4.43% 5.15% 2.43% 2.52% 2.43% 2.45%
CAPEX / EBITDA (%) 17.85% 9.41% 11.25% 15.08% 6.16% 6.52% 5.97% 5.95%
CAPEX / FCF (%) - 9.73% - 17.68% 6.06% - - -

Items per share

        
Cash flow per share 1 0.2326 0.689 0.7928 0.8148 1.059 1.149 1.657 1.45
Change - 196.22% 15.07% 2.77% 29.98% 8.53% 44.14% -12.51%
Dividend per Share 1 - - 0.1 0.1 0.1 0.2405 0.2532 0.3376
Change - - - 0% 0% 140.51% 5.29% 33.33%
Book Value Per Share 1 1.582 2.078 2.436 3.042 4.635 5.685 6.978 8.369
Change - 31.3% 17.27% 24.87% 52.36% 22.66% 22.74% 19.94%
EPS 1 0.27 0.49 0.69 0.77 0.89 1.259 1.419 1.544
Change - 81.48% 40.82% 11.59% 15.58% 41.51% 12.7% 8.75%
Nbr of stocks (in thousands) 2,106,755 2,107,680 2,130,570 2,126,586 2,136,443 2,120,993 2,120,993 2,120,993
Announcement Date 4/28/22 4/26/23 4/29/24 4/25/25 4/28/26 - - -
1CNY
Estimates
2026 *2027 *
P/E Ratio 11.7x 10.4x
PBR 2.59x 2.11x
EV / Sales 3.33x 2.63x
Yield 1.63% 1.72%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
14.73CNY
Average target price
27.77CNY
Spread / Average Target
+88.50%

Quarterly revenue - Rate of surprise

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