Financials Hangzhou Binjiang Real Estate Group Co.,Ltd

Equities

002244

CNE100000BS5

Real Estate Development & Operations

End-of-day quote Shenzhen S.E. 23:00:00 25/04/2024 BST 5-day change 1st Jan Change
6.42 CNY +9.93% Intraday chart for Hangzhou Binjiang Real Estate Group Co.,Ltd +6.47% -11.69%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 15,308 14,282 14,499 27,474 22,620 19,975 -
Enterprise Value (EV) 1 15,308 14,282 14,499 54,970 28,967 61,367 77,064
P/E ratio 9.46 x 6.12 x 4.8 x 7.36 x 8.98 x 4.15 x 3.6 x
Yield 2.68% 4.92% 4.85% 2.83% 1.24% 4.08% 4.21%
Capitalization / Revenue 0.61 x 0.5 x 0.38 x 0.66 x 0.32 x 0.32 x 0.29 x
EV / Revenue 0.61 x 0.5 x 0.38 x 1.32 x 0.41 x 0.97 x 1.13 x
EV / EBITDA 2.72 x 2.84 x 2.04 x 9.59 x 5.22 x 6.68 x 7.81 x
EV / FCF - - - 10.8 x - -7.05 x -5.49 x
FCF Yield - - - 9.24% - -14.2% -18.2%
Price to Book 0.92 x 0.78 x 0.7 x 1.17 x 0.89 x 0.63 x 0.54 x
Nbr of stocks (in thousands) 3,111,444 3,111,444 3,111,444 3,111,444 3,111,444 3,111,444 -
Reference price 2 4.920 4.590 4.660 8.830 7.270 6.420 6.420
Announcement Date 12/03/20 28/04/21 29/04/22 28/04/23 26/04/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 24,955 28,597 37,976 41,502 70,443 63,364 68,238
EBITDA 1 5,635 5,024 7,093 5,734 5,548 9,184 9,869
EBIT 1 5,419 4,827 6,746 5,320 5,055 8,545 9,518
Operating Margin 21.71% 16.88% 17.76% 12.82% 7.18% 13.49% 13.95%
Earnings before Tax (EBT) 1 5,403 4,787 6,737 5,311 5,036 8,379 9,153
Net income 1 1,631 2,328 3,027 3,741 2,529 4,862 5,500
Net margin 6.54% 8.14% 7.97% 9.01% 3.59% 7.67% 8.06%
EPS 2 0.5200 0.7500 0.9700 1.200 0.8100 1.547 1.785
Free Cash Flow 1 - - - 5,078 - -8,703 -14,036
FCF margin - - - 12.23% - -13.74% -20.57%
FCF Conversion (EBITDA) - - - 88.55% - - -
FCF Conversion (Net income) - - - 135.73% - - -
Dividend per Share 2 0.1320 0.2260 0.2260 0.2500 0.0900 0.2618 0.2700
Announcement Date 12/03/20 28/04/21 29/04/22 28/04/23 26/04/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 S2 2023 S1
Net sales - - - -
EBITDA - - - -
EBIT - - - -
Operating Margin - - - -
Earnings before Tax (EBT) - - - -
Net income 1 865.2 1,267 1,760 1,637
Net margin - - - -
EPS - 0.4100 - -
Dividend per Share - - - -
Announcement Date 26/08/20 26/08/21 29/04/22 29/08/23
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - 27,496 6,347 41,392 57,089
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) - - - 4.795 x 1.144 x 4.507 x 5.785 x
Free Cash Flow 1 - - - 5,078 - -8,703 -14,036
ROE (net income / shareholders' equity) 10.2% 13.3% 15.5% 16.9% 10.3% 15.9% 14.5%
ROA (Net income/ Total Assets) 1.51% 1.54% 1.58% 1.53% - 1.45% 1.15%
Assets 1 108,142 150,852 191,870 243,954 - 335,276 478,226
Book Value Per Share 2 5.320 5.900 6.610 7.560 8.130 10.20 11.80
Cash Flow per Share 2 0.8400 -1.010 0.2700 1.680 10.50 4.020 1.310
Capex 1 27.1 80.2 42.1 136 188 91.4 653
Capex / Sales 0.11% 0.28% 0.11% 0.33% 0.27% 0.14% 0.96%
Announcement Date 12/03/20 28/04/21 29/04/22 28/04/23 26/04/24 - -
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

Trading Rating
Investor Rating
ESG Refinitiv
D+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
6.42 CNY
Average target price
10.23 CNY
Spread / Average Target
+59.31%
Consensus

Annual profits - Rate of surprise

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