Financials CIMC Vehicles (Group) Co., Ltd.

Equities

301039

CNE100004M35

Heavy Machinery & Vehicles

End-of-day quote Shenzhen S.E. Other stock markets 23:00:00 27/06/2024 BST			5-day change	1st Jan Change
8.6 ^CNY	-1.15%		-6.52%	-8.32%

05-30	Tranche Update on CIMC Vehicles Co., Ltd.'s Equity Buyback Plan announced on March 11, 2024.	CI
05-30	CIMC Vehicles Co., Ltd.'s Equity Buyback announced on March 11, 2024 has closed with 143,475,580 H shares. representing 7.111% for HKD 1,076.07 million.	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	21,775	13,985	17,183	16,117	-	-
Enterprise Value (EV) ¹	21,775	13,985	17,183	16,117	16,117	16,117
P/E ratio	-	-	7.69 x	11.4 x	9.85 x	8.64 x
Yield	-	-	-	4.19%	4.65%	-
Capitalization / Revenue	0.79 x	0.59 x	0.68 x	0.6 x	0.55 x	0.49 x
EV / Revenue	0.79 x	0.59 x	0.68 x	0.6 x	0.55 x	0.49 x
EV / EBITDA	12.9 x	7.24 x	4.55 x	6.36 x	5.59 x	4.87 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	-	-	1.28 x	1.05 x	0.97 x	0.87 x
Nbr of stocks (in thousands)	2,017,600	2,017,600	2,017,600	1,874,124	-	-
Reference price ²	12.83	7.970	9.380	8.600	8.600	8.600
Announcement Date	24/03/22	27/03/23	21/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	23,220	26,247	27,648	23,621	25,087	26,840	29,309	32,640
EBITDA ¹	1,911	1,897	1,690	1,931	3,779	2,533	2,881	3,307
EBIT ¹	1,586	1,518	1,190	1,473	3,265	1,959	2,244	2,556
Operating Margin	6.83%	5.78%	4.31%	6.23%	13.01%	7.3%	7.66%	7.83%
Earnings before Tax (EBT) ¹	1,571	1,518	1,176	1,475	3,261	1,992	2,292	2,556
Net income ¹	1,211	1,132	900.7	1,118	2,456	1,493	1,715	1,926
Net margin	5.21%	4.31%	3.26%	4.73%	9.79%	5.56%	5.85%	5.9%
EPS ²	-	-	-	-	1.220	0.7567	0.8733	0.9950
Free Cash Flow	971	-	-	-	-	-	-	-
FCF margin	4.18%	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	50.82%	-	-	-	-	-	-	-
FCF Conversion (Net income)	80.2%	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	-	0.3600	0.4000	-
Announcement Date	25/03/20	25/03/21	24/03/22	27/03/23	21/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q2	2023 Q3
Net sales ¹	-	6,099
EBITDA	-	-
EBIT ¹	-	496.9
Operating Margin	-	8.15%
Earnings before Tax (EBT)	-	-
Net income ¹	1,417	380.8
Net margin	-	6.24%
EPS	-	-
Dividend per Share	-	-
Announcement Date	23/08/23	25/10/23

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	971	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	12.8%	11.5%	8.3%	9.15%	17.9%	11.1%	11.6%	10.1%
ROA (Net income/ Total Assets)	6.87%	5.88%	4.33%	5.08%	10.7%	5.93%	6.37%	6.55%
Assets ¹	17,621	19,244	20,803	21,999	23,027	25,157	26,942	29,405
Book Value Per Share ²	-	-	-	-	7.340	8.220	8.870	9.840
Cash Flow per Share ²	-	-	-	-	0.8900	1.120	1.140	1.380
Capex ¹	797	832	1,065	538	519	635	668	850
Capex / Sales	3.43%	3.17%	3.85%	2.28%	2.07%	2.37%	2.28%	2.6%
Announcement Date	25/03/20	25/03/21	24/03/22	27/03/23	21/03/24	-	-	-

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

Ratings for CIMC Vehicles (Group) Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

8.6 CNY

Average target price

13.13 CNY

Spread / Average Target

+52.71%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Heavy Trucks

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Heavy Trucks