Financials Shanghai Taisheng Wind Power Equipment Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 18:00:00 2024-04-28 EDT			5-day change	1st Jan Change
7.74 ^CNY	+3.06%		+6.46%	-28.13%

04-26	Shanghai Taisheng Wind Power Equipment Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
02-01	Shanghai Taisheng Wind Power Equipment Co., Ltd. announced that it expects to receive CNY 1.199999999 billion in funding	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,495	5,466	6,645	6,703	10,069	7,236	-	-
Enterprise Value (EV) ¹	3,495	5,466	6,645	6,703	10,069	7,236	7,236	7,236
P/E ratio	22.8 x	15.7 x	25.7 x	22 x	34.4 x	11.6 x	7.98 x	7.23 x
Yield	-	1.32%	-	-	0.46%	1.27%	1.71%	-
Capitalization / Revenue	1.58 x	1.52 x	-	2.14 x	2.09 x	1.1 x	0.81 x	0.77 x
EV / Revenue	1.58 x	1.52 x	-	2.14 x	2.09 x	1.1 x	0.81 x	0.77 x
EV / EBITDA	13.6 x	10.8 x	-	17 x	22.9 x	8.4 x	6.24 x	5.64 x
EV / FCF	-	-	-	-	-15.6 x	-16.4 x	-24 x	-
FCF Yield	-	-	-	-	-6.4%	-6.08%	-4.17%	-
Price to Book	1.51 x	2.11 x	-	1.66 x	2.34 x	1.49 x	1.25 x	1.09 x
Nbr of stocks (in thousands)	719,153	719,153	719,153	934,899	934,899	934,899	-	-
Reference price ²	4.860	7.600	9.240	7.170	10.77	7.740	7.740	7.740
Announcement Date	20-02-27	21-04-14	22-04-28	23-04-25	24-04-26	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,219	3,604	-	3,127	4,813	6,571	8,960	9,454
EBITDA ¹	256.7	508.2	-	394.1	439.1	861.6	1,160	1,283
EBIT ¹	182.7	429.5	-	297.9	339.7	707.5	1,006	1,137
Operating Margin	8.23%	11.92%	-	9.53%	7.06%	10.77%	11.22%	12.03%
Earnings before Tax (EBT) ¹	182.1	429.3	-	297.5	334.9	706.9	999.8	1,134
Net income ¹	153.6	348.8	258.5	274.9	292.4	664.3	914.1	1,002
Net margin	6.92%	9.68%	-	8.79%	6.08%	10.11%	10.2%	10.6%
EPS ²	0.2136	0.4850	0.3595	0.3253	0.3128	0.6700	0.9700	1.070
Free Cash Flow ¹	-	-	-	-	-644.4	-440	-302	-
FCF margin	-	-	-	-	-13.39%	-6.7%	-3.37%	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	0.1000	-	-	0.0500	0.0980	0.1320	-
Announcement Date	20-02-27	21-04-14	22-04-28	23-04-25	24-04-26	-	-	-

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	-	-	-	-	-644	-440	-302	-
ROE (net income / shareholders' equity)	6.8%	14.3%	-	7.86%	7.02%	13.1%	15.8%	15%
ROA (Net income/ Total Assets)	-	-	-	3.83%	-	7.1%	7.1%	-
Assets ¹	-	-	-	7,172	-	9,356	12,878	-
Book Value Per Share ²	3.220	3.600	-	4.320	4.600	5.190	6.210	7.100
Cash Flow per Share ²	0.4500	-0.1000	-	-	-0.2200	0.3100	0.2200	1.090
Capex ¹	32	20.7	-	70.4	435	428	114	241
Capex / Sales	1.44%	0.57%	-	2.25%	9.05%	6.51%	1.27%	2.55%
Announcement Date	20-02-27	21-04-14	22-04-28	23-04-25	24-04-26	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

7.74 CNY

Average target price

12.09 CNY

Spread / Average Target

+56.20%

	1st Jan change	Capi.
SHANGHAI TAISHENG WIND POWER EQUIPMENT CO., LTD.	-28.13%	969M
VESTAS WIND SYSTEMS A/S	-13.65%	26.45B
SANY RENEWABLE ENERGY CO.,LTD.	+2.48%	4.68B
GOLDWIND SCIENCE AND TECHNOLOGY CO., LTD.	-2.00%	3.85B
INOX WIND LIMITED	+26.26%	2.5B
TITAN WIND ENERGY (SUZHOU) CO.,LTD	-10.86%	2.33B
DAJIN HEAVY INDUSTRY CO.,LTD.	-20.44%	1.69B
CENTURY WIND POWER CO., LTD.	+57.43%	1.59B
CS WIND CORPORATION	-22.93%	1.5B
JIANGSU HAILI WIND POWER EQUIPMENT TECHNOLOGY CO., LTD.	-16.28%	1.32B