TCL ZHONGHUAN RENEWABLE ENERGY TECHNOLOGY CO.,LTD. Financials TCL Zhonghuan Renewable Energy Technology Co.,Ltd.
Equities
002129
CNE1000000B8
Renewable Energy Equipment & Services
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 10.43 CNY | -3.78% |
|
-0.10% | -33.31% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 32,893 | 77,340 | 134,543 | 121,005 | 62,718 | 42,117 | - | - |
| Enterprise Value (EV) 1 | 43,550 | 88,660 | 144,405 | 145,736 | 92,891 | 74,128 | 67,523 | 66,466 |
| P/E ratio | 36.4 x | 67.6 x | 31.7 x | 17.8 x | 18.4 x | 17.1 x | 5.67 x | 8.98 x |
| Yield | 0.25% | 0.24% | 0.26% | 0.27% | 1.66% | 0.7% | 1.24% | 1.59% |
| Capitalization / Revenue | 1.95 x | 4.06 x | 3.27 x | 1.81 x | 1.06 x | 0.86 x | 0.53 x | 0.62 x |
| EV / Revenue | 2.58 x | 4.65 x | 3.51 x | 2.17 x | 1.57 x | 1.52 x | 0.85 x | 0.99 x |
| EV / EBITDA | 12.7 x | 23.4 x | 18.4 x | 12.4 x | 8.43 x | 6.87 x | 4.97 x | 4.58 x |
| EV / FCF | -20.6 x | -118 x | -79.3 x | -23.7 x | - | -21.7 x | 13.9 x | 24.8 x |
| FCF Yield | -4.86% | -0.84% | -1.26% | -4.22% | - | -4.62% | 7.22% | 4.03% |
| Price to Book | 2.33 x | 4.03 x | 4.26 x | 3.24 x | 1.52 x | 0.99 x | 0.78 x | 0.88 x |
| Nbr of stocks (in thousands) | 3,481,446 | 3,791,158 | 4,028,245 | 4,016,351 | 4,010,093 | 4,038,104 | - | - |
| Reference price 2 | 9.448 | 20.40 | 33.40 | 30.13 | 15.64 | 10.43 | 10.43 | 10.43 |
| Announcement Date | 20-02-28 | 21-03-10 | 22-03-10 | 23-03-28 | 24-04-25 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 16,887 | 19,057 | 41,105 | 67,010 | 59,146 | 48,723 | 79,712 | 67,456 |
| EBITDA 1 | 3,416 | 3,783 | 7,848 | 11,712 | 11,023 | 10,793 | 13,579 | 14,510 |
| EBIT 1 | 1,441 | 1,631 | 5,006 | 7,325 | 4,565 | 3,345 | 8,650 | 5,354 |
| Operating Margin | 8.53% | 8.56% | 12.18% | 10.93% | 7.72% | 6.86% | 10.85% | 7.94% |
| Earnings before Tax (EBT) 1 | 1,457 | 1,692 | 5,000 | 7,449 | 4,544 | 3,112 | 8,635 | 5,139 |
| Net income 1 | 903.7 | 1,089 | 4,030 | 6,819 | 3,416 | 2,467 | 7,430 | 4,687 |
| Net margin | 5.35% | 5.71% | 9.8% | 10.18% | 5.78% | 5.06% | 9.32% | 6.95% |
| EPS 2 | 0.2596 | 0.3016 | 1.053 | 1.697 | 0.8518 | 0.6090 | 1.838 | 1.161 |
| Free Cash Flow 1 | -2,115 | -748.3 | -1,821 | -6,151 | - | -3,423 | 4,872 | 2,680 |
| FCF margin | -12.52% | -3.93% | -4.43% | -9.18% | - | -7.03% | 6.11% | 3.97% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | 35.88% | 18.47% |
| FCF Conversion (Net income) | - | - | - | - | - | - | 65.57% | 57.19% |
| Dividend per Share 2 | 0.0240 | 0.0480 | 0.0880 | 0.0800 | 0.2600 | 0.0730 | 0.1294 | 0.1658 |
| Announcement Date | 20-02-28 | 21-03-10 | 22-03-10 | 23-03-28 | 24-04-25 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 12,016 | - | 18,330 | 18,147 | 17,165 | - | 17,279 | 13,756 | 10,492 | 9,933 | 7,424 | 24,747 | 7,390 | - | - |
| EBITDA 1 | 1,772 | - | 2,538 | 3,080 | - | - | - | - | - | - | 2,423 | 4,448 | 3,206 | - | - |
| EBIT 1 | 1,422 | - | 1,921 | 2,501 | 1,329 | - | - | - | -2,889 | - | 573.7 | 2,598 | 1,357 | - | - |
| Operating Margin | 11.83% | - | 10.48% | 13.78% | 7.74% | - | - | - | -27.53% | - | 7.73% | 10.5% | 18.36% | - | - |
| Earnings before Tax (EBT) 1 | 1,407 | - | 1,903 | 2,500 | 1,470 | - | - | - | - | - | 479.4 | 2,284 | 1,404 | - | - |
| Net income 1 | - | - | 1,607 | 2,083 | 1,818 | 2,253 | 2,283 | 1,652 | -2,772 | - | 365.4 | 1,904 | 1,046 | - | - |
| Net margin | - | - | 8.76% | 11.48% | 10.59% | - | 13.21% | 12.01% | -26.42% | - | 4.92% | 7.69% | 14.16% | - | - |
| EPS 2 | 0.3280 | - | - | - | 0.4560 | 0.5605 | 0.5681 | 0.4100 | -0.6900 | - | 0.0904 | 0.4710 | 0.2588 | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | 0.0301 | - | - | - | 0.0391 |
| Announcement Date | 22-03-10 | 22-05-24 | 22-08-24 | 22-10-19 | 23-03-28 | 23-04-27 | 23-08-28 | 23-10-25 | 24-04-25 | 24-04-25 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 10,658 | 11,320 | 9,862 | 24,731 | 30,173 | 32,010 | 25,405 | 24,349 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.12 x | 2.992 x | 1.257 x | 2.112 x | 2.737 x | 2.966 x | 1.871 x | 1.678 x |
| Free Cash Flow 1 | -2,115 | -748 | -1,821 | -6,151 | - | -3,423 | 4,872 | 2,681 |
| ROE (net income / shareholders' equity) | 6.58% | 7.55% | 18% | 19.7% | 8.83% | 5.67% | 12.9% | 8.39% |
| ROA (Net income/ Total Assets) | 1.97% | 2.02% | 5.84% | 7.29% | - | 1.26% | 4.8% | 3.74% |
| Assets 1 | 45,918 | 53,911 | 69,026 | 93,556 | - | 195,769 | 154,695 | 125,246 |
| Book Value Per Share 2 | 4.050 | 5.070 | 7.840 | 9.310 | 10.30 | 10.50 | 13.30 | 11.90 |
| Cash Flow per Share 2 | 0.7200 | 0.7500 | 1.060 | 1.250 | 1.280 | 3.660 | 3.660 | 2.730 |
| Capex 1 | 4,622 | 3,607 | 5,982 | 11,208 | 12,035 | 10,084 | 9,590 | 7,804 |
| Capex / Sales | 27.37% | 18.93% | 14.55% | 16.73% | 20.35% | 20.7% | 12.03% | 11.57% |
| Announcement Date | 20-02-28 | 21-03-10 | 22-03-10 | 23-03-28 | 24-04-25 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
10.43
CNY
Average target price
18.61
CNY
Spread / Average Target
+78.39%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -33.31% | 5.82B | |
| +11.19% | 20.5B | |
| -20.52% | 19.06B | |
| -13.58% | 15.54B | |
| -13.30% | 13.5B | |
| -14.56% | 10.47B | |
| +38.54% | 8.03B | |
| -17.35% | 7.22B | |
| +24.34% | 6.47B | |
| -31.37% | 6.46B |
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- Financials TCL Zhonghuan Renewable Energy Technology Co.,Ltd.
