Stock 002452 CHANGGAO ELECTRIC GROUP CO., LTD.
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Financials Changgao Electric Group Co., Ltd.

Equities

002452

CNE100000RV5

Heavy Electrical Equipment

End-of-day quote Shenzhen S.E.
Other stock markets
 23:00:00 07/05/2024 BST 		5-day change 1st Jan Change
7.1 CNY -1.93% Intraday chart for Changgao Electric Group Co., Ltd. +3.50% 0.00%
01:13pm Changgao Electric Wins Bid in State Grid's Power Equipment Procurement MT
04-25 Changgao Electric Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,832 2,531 3,057 5,907 3,846 4,404
Enterprise Value (EV) 1 1,745 2,580 3,413 5,327 3,239 3,632
P/E ratio -7.44 x 17.5 x 14.3 x 21.3 x 66.2 x 25.4 x
Yield - 1.46% 1.22% 0.73% 0.32% 0.99%
Capitalization / Revenue 1.74 x 2.18 x 1.96 x 3.88 x 3.15 x 2.95 x
EV / Revenue 1.66 x 2.23 x 2.19 x 3.5 x 2.65 x 2.43 x
EV / EBITDA 48.9 x 13.9 x 11.2 x 20.9 x 30.9 x 15.1 x
EV / FCF 7.05 x -91.6 x -7.97 x -15.6 x 46.4 x 22.3 x
FCF Yield 14.2% -1.09% -12.6% -6.42% 2.16% 4.49%
Price to Book 1.65 x 2.01 x 2.1 x 2.84 x 1.83 x 1.95 x
Nbr of stocks (in thousands) 529,400 529,400 533,475 619,808 620,332 620,332
Reference price 2 3.460 4.780 5.730 9.530 6.200 7.100
Announcement Date 29/04/19 24/03/20 12/04/21 27/04/22 24/04/23 26/03/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,053 1,159 1,562 1,521 1,223 1,493
EBITDA 1 35.68 185.5 304.6 255.3 104.9 240
EBIT 1 -39.45 127 253 212.2 64.85 198.6
Operating Margin -3.75% 10.96% 16.2% 13.95% 5.3% 13.3%
Earnings before Tax (EBT) 1 -245.5 160.6 252.5 282.3 65.87 205.2
Net income 1 -246.1 144.9 213.1 251.5 58.05 173.1
Net margin -23.36% 12.5% 13.64% 16.53% 4.75% 11.59%
EPS 2 -0.4650 0.2737 0.4015 0.4476 0.0936 0.2790
Free Cash Flow 1 247.6 -28.17 -428.3 -341.9 69.83 163
FCF margin 23.51% -2.43% -27.43% -22.47% 5.71% 10.92%
FCF Conversion (EBITDA) 694.03% - - - 66.59% 67.92%
FCF Conversion (Net income) - - - - 120.3% 94.2%
Dividend per Share - 0.0700 0.0700 0.0700 0.0200 0.0700
Announcement Date 29/04/19 24/03/20 12/04/21 27/04/22 24/04/23 26/03/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - 49 356 - - -
Net Cash position 1 86.9 - - 580 607 772
Leverage (Debt/EBITDA) - 0.2642 x 1.168 x - - -
Free Cash Flow 1 248 -28.2 -428 -342 69.8 163
ROE (net income / shareholders' equity) -19.4% 11.7% 15.2% 14% 2.32% 7.83%
ROA (Net income/ Total Assets) -0.93% 2.95% 4.82% 3.82% 1.23% 3.82%
Assets 1 26,575 4,915 4,423 6,587 4,718 4,531
Book Value Per Share 2 2.100 2.370 2.730 3.360 3.380 3.640
Cash Flow per Share 2 0.5800 0.6400 1.020 1.340 1.140 1.260
Capex 1 17 184 525 176 125 67.3
Capex / Sales 1.62% 15.9% 33.64% 11.54% 10.23% 4.51%
Announcement Date 29/04/19 24/03/20 12/04/21 27/04/22 24/04/23 26/03/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Industrial Electrical Switchgear

1st Jan change Capi.
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Industrial Electrical Switchgear
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