Financials Anhui Gujing Distillery Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 18/09/2024			5-day change	1st Jan Change
140.60 ^CNY	-1.12%		-11.21%	-39.60%

09-02	Gujing Distillery's H1 Profit Jumps 29%, Operating Income Up 22%	MT
08-30	Anhui Gujing Distillery Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	10,417	10,292	13,270	16,713	20,254	24,451	28,266	32,466
Change	-	-1.2%	28.93%	25.95%	21.18%	20.72%	15.6%	14.86%
EBITDA ¹	3,086	2,707	3,402	4,752	6,657	8,242	9,921	11,645
Change	-	-12.3%	25.7%	39.68%	40.08%	23.8%	20.37%	17.38%
EBIT ¹	2,823	2,435	3,102	4,453	6,283	8,009	9,621	11,408
Change	-	-13.78%	27.4%	43.56%	41.1%	27.47%	20.13%	18.58%
Interest Paid ¹	-	-	-	-	-162.2	-292	-345	-
Earnings before Tax (EBT) ¹	2,873	2,474	3,171	4,470	6,332	8,070	9,639	11,331
Change	-	-13.89%	28.19%	40.97%	41.64%	27.45%	19.44%	17.55%
Net income ¹	2,098	1,855	2,298	3,143	4,589	5,828	6,992	8,240
Change	-	-11.58%	23.9%	36.78%	46.01%	27%	19.97%	17.85%
Announcement Date	26/04/20	29/04/21	10/03/22	28/04/23	26/04/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2021 Q2	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
Net sales ¹	2,215	2,214	3,281	2,238	2,550	3,726	3,168	5,274	3,728	3,763	3,949	6,584	4,726	4,643	4,301	8,286	5,519	5,339	4,886
Change	-	-0.03%	48.2%	-31.79%	13.92%	46.13%	-14.99%	66.51%	-29.32%	0.94%	4.94%	66.75%	-28.22%	-1.76%	-7.36%	92.67%	-33.39%	-3.27%	-8.48%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	441.8	1,497	1,165	966.6	824.1	2,117	1,668	1,430	1,068	2,816	2,166	-	-
Change	-	-	-	-	-	-	-	238.88%	-22.21%	-17.01%	-14.74%	156.88%	-21.23%	-14.24%	-25.29%	163.62%	-23.11%	-100%	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	1,675	1,445	1,079	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-13.77%	-25.33%	-100%	-	-	-
Net income ¹	-	-	-	-	-	564.3	-	-	-	-	-	-	1,210	1,033	776.5	-	1,507	1,219	959.5
Change	-	-	-	-	-	-	-100%	-	-	-	-	-	-	-14.6%	-24.84%	-100%	-	-19.14%	-21.26%
Announcement Date	27/10/19	26/04/20	26/04/20	28/08/20	28/10/20	27/08/21	10/03/22	29/04/22	30/08/22	30/10/22	28/04/23	28/04/23	30/08/23	27/10/23	26/04/24	26/04/24	30/08/24	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2021 S2	2023 S2	2024 S2
Net sales	6,262	8,944	-
Change	-	42.81%	-100%
EBITDA	-	-	-
Change	-	-	-
EBIT ¹	1,225	2,498	3,080
Change	-	103.99%	23.28%
Charge d'intérêts	-	-	-
Earnings before Tax (EBT)	-	2,523	-
Change	-	-	-100%
Net income ¹	-	1,810	2,175
Change	-	-	20.19%
Announcement Date	10/03/22	26/04/24	-

¹CNY in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-5,620	-5,840	-11,709	-13,602	-15,778	-17,111	-19,650	-22,797
Change	-	-203.91%	-300.5%	-216.17%	-216%	-208.45%	-214.84%	-216.02%
Announcement Date	26/04/20	29/04/21	10/03/22	28/04/23	26/04/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	408	561.6	569.6	1,578	2,375	2,146	1,557	1,503
Change	-	37.66%	1.43%	177.06%	50.51%	-9.66%	-27.45%	-3.47%
Free Cash Flow (FCF) ¹	-	3,063	4,685	1,530	2,121	3,943	5,899	7,383
Change	-	-	52.95%	-67.35%	38.64%	85.92%	49.6%	25.16%
Announcement Date	26/04/20	29/04/21	10/03/22	28/04/23	26/04/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	29.63%	26.3%	25.64%	28.44%	32.87%	33.71%	35.1%	35.87%
EBIT Margin (%)	27.1%	23.65%	23.37%	26.64%	31.02%	32.75%	34.04%	35.14%
EBT Margin (%)	27.58%	24.04%	23.9%	26.75%	31.26%	33.01%	34.1%	34.9%
Net margin (%)	20.14%	18.02%	17.32%	18.81%	22.66%	23.84%	24.74%	25.38%
FCF margin (%)	-	29.76%	35.3%	9.15%	10.47%	16.13%	20.87%	22.74%
FCF / Net Income (%)	-	165.16%	203.87%	48.67%	46.21%	67.65%	84.36%	89.59%
Profitability
ROA	-	12.76%	11%	-	14.07%	15.04%	16.17%	16.64%
ROE	25.55%	19.53%	21.25%	17.93%	22.92%	23.66%	24.54%	25.1%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	3.92%	5.46%	4.29%	9.44%	11.73%	8.78%	5.51%	4.63%
CAPEX / EBITDA (%)	13.22%	20.75%	16.74%	33.21%	35.68%	26.04%	15.69%	12.91%
CAPEX / FCF (%)	-	18.34%	12.16%	103.18%	112.01%	54.42%	26.39%	20.36%
Items per share
Cash flow per share ¹	3.821	7.192	10.18	-	8.504	12.54	15.45	17.43
Change	-	88.21%	41.48%	-	-	47.44%	23.21%	12.82%
Dividend per Share ¹	1.5	1.5	2.2	-	4.5	5.16	6.532	8.04
Change	-	0%	46.67%	-	-	14.67%	26.58%	23.09%
Book Value Per Share ¹	17.76	19.94	31.27	-	40.72	47.22	54.71	62.77
Change	-	12.29%	56.8%	-	-	15.97%	15.85%	14.72%
EPS ¹	4.17	3.68	4.45	5.95	8.68	11.04	13.28	15.68
Change	-	-11.75%	20.92%	33.71%	45.88%	27.16%	20.3%	18.1%
Nbr of stocks (in thousands)	503,600	503,600	528,600	528,600	528,600	528,600	528,600	528,600
Announcement Date	26/04/20	29/04/21	10/03/22	28/04/23	26/04/24	-	-	-