Financials China 21st Century Education Group Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 09:08:20 26/04/2024 BST			5-day change	1st Jan Change
0.186 ^HKD	-7.92%		+7.51%	-31.11%

03-28	China 21st Century Education Group Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI
03-13	China 21st Century Education Forecasts Up to 50% Rise in 2023 Profit	MT

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	1,007	982.5	785.9	436.3	300.2	196.5	196.5	-
Enterprise Value (EV) ¹	1,007	982.5	785.9	436.3	300.2	280.1	196.5	196.5
P/E ratio	12.7 x	12 x	10.3 x	15 x	11.1 x	7.01 x	3.19 x	2.87 x
Yield	-	2.73%	1.96%	1.33%	2.64%	7.49%	9.99%	-
Capitalization / Revenue	4.99 x	4.19 x	3.1 x	1.41 x	0.96 x	0.67 x	0.4 x	0.32 x
EV / Revenue	4.99 x	4.19 x	3.1 x	1.41 x	0.96 x	0.67 x	0.4 x	0.32 x
EV / EBITDA	-	-	-	-	2.59 x	1.97 x	0.95 x	0.85 x
EV / FCF	-	4.68 x	23.9 x	-7.09 x	-1.37 x	4.97 x	2.31 x	-
FCF Yield	-	21.4%	4.18%	-14.1%	-73.1%	20.1%	43.2%	-
Price to Book	-	-	-	-	0.42 x	0.36 x	0.24 x	0.22 x
Nbr of stocks (in thousands)	1,220,619	1,208,142	1,167,216	1,139,217	1,133,205	1,141,262	1,141,262	-
Reference price ²	0.8254	0.8132	0.6733	0.3830	0.2650	0.1722	0.1722	0.1722
Announcement Date	24/03/19	31/03/20	31/03/21	31/03/22	30/03/23	28/03/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	202	234.2	253.8	308.8	311.9	420	492.4	614
EBITDA ¹	-	-	-	-	116	141.9	206	232
EBIT ¹	-	92.87	91.33	55.03	63.04	81.9	110.6	141
Operating Margin	-	39.65%	35.99%	17.82%	20.21%	19.5%	22.45%	22.96%
Earnings before Tax (EBT) ¹	-	84.66	79.12	28.39	27.41	39.16	64.4	77
Net income ¹	-	82.58	77.18	29.18	27.3	39.91	63.05	74
Net margin	-	35.26%	30.41%	9.45%	8.75%	9.5%	12.81%	12.05%
EPS ²	0.0648	0.0678	0.0651	0.0256	0.0239	0.0350	0.0540	0.0600
Free Cash Flow ¹	-	209.9	32.89	-61.52	-219.6	39.5	84.9	-
FCF margin	-	89.59%	12.96%	-19.93%	-70.39%	10.09%	17.24%	-
FCF Conversion (EBITDA)	-	-	-	-	-	22.07%	41.21%	-
FCF Conversion (Net income)	-	254.12%	42.61%	-	-	83.51%	134.66%	-
Dividend per Share ²	-	0.0222	0.0132	0.005100	0.007000	0.0129	0.0172	-
Announcement Date	24/03/19	31/03/20	31/03/21	31/03/22	30/03/23	28/03/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	210	32.9	-61.5	-220	39.5	84.9	-
ROE (net income / shareholders' equity)	-	13.2%	11.6%	4.36%	3.91%	5.33%	7.83%	8.29%
ROA (Net income/ Total Assets)	-	9.03%	6.97%	2.32%	1.64%	1.87%	3%	-
Assets ¹	-	914.4	1,108	1,259	1,665	2,139	2,102	-
Book Value Per Share ²	-	-	-	-	0.6300	0.6800	0.7100	0.7700
Cash Flow per Share ²	-	-	-	-	0.1100	0.2500	0.2900	0.3300
Capex ¹	-	-	-	152	348	160	75	90
Capex / Sales	-	-	-	49.37%	111.57%	40.87%	15.23%	14.66%
Announcement Date	24/03/19	31/03/20	31/03/21	31/03/22	30/03/23	28/03/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.1722 CNY

Average target price

0.486 CNY

Spread / Average Target

+182.27%

	1st Jan change	Capi.
CHINA 21ST CENTURY EDUCATION GROUP LIMITED	-31.11%	27.12M
IDP EDUCATION LIMITED	-20.52%	2.89B
OFFCN EDUCATION TECHNOLOGY CO., LTD.	-37.25%	2.18B
NATIONAL COMPANY FOR LEARNING AND EDUCATION	+26.57%	1.75B
AFYA LIMITED	-18.19%	1.61B
SHANGHAI ACTION EDUCATION TECHNOLOGY CO.,LTD.	+39.56%	877M
NIIT LEARNING SYSTEMS LIMITED	+17.55%	837M
UNIVERSAL TECHNICAL INSTITUTE, INC.	+21.41%	817M
PORTER HOLDING INTERNATIONAL, INC.	-.--%	813M
ATAA EDUCATIONAL COMPANY	-2.65%	797M