Financials Hangzhou Sunrise Technology Co.,Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 23:00:00 08/05/2024 BST			5-day change	1st Jan Change
15.1 ^CNY	+3.21%		+4.07%	+10.54%

04-24	Hangzhou Sunrise Technology Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-18	Hangzhou Sunrise Technology Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,002	4,494	6,224	7,339	6,957	7,691	-	-
Enterprise Value (EV) ¹	5,002	4,494	6,224	7,339	6,957	7,691	7,691	7,691
P/E ratio	21.1 x	15.4 x	19.6 x	15.5 x	11.4 x	12.4 x	9.44 x	8.83 x
Yield	1.58%	1.68%	1.22%	1.37%	3.66%	1.66%	2.32%	2.32%
Capitalization / Revenue	5.61 x	4.1 x	5.14 x	4.87 x	3.93 x	3.51 x	2.67 x	2.35 x
EV / Revenue	5.61 x	4.1 x	5.14 x	4.87 x	3.93 x	3.51 x	2.67 x	2.35 x
EV / EBITDA	-	12.1 x	15.7 x	12.5 x	9.23 x	10.6 x	8.1 x	7.35 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	2.38 x	1.88 x	2.36 x	2.4 x	1.92 x	1.93 x	1.61 x	1.46 x
Nbr of stocks (in thousands)	514,075	504,387	504,387	504,387	509,315	509,315	-	-
Reference price ²	9.731	8.910	12.34	14.55	13.66	15.10	15.10	15.10
Announcement Date	28/02/20	06/04/21	22/04/22	21/04/23	18/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	892.4	1,097	1,210	1,506	1,771	2,192	2,884	3,272
EBITDA ¹	-	371.1	395.7	585.4	753.8	726.2	949.4	1,046
EBIT ¹	276.7	348.8	373.7	546.4	693.6	709.8	935.4	994.6
Operating Margin	31.01%	31.8%	30.88%	36.27%	39.16%	32.38%	32.43%	30.4%
Earnings before Tax (EBT) ¹	277.7	348.8	373.5	550	692.2	711.5	938	996
Net income ¹	242.9	293.3	317.8	472.1	607.3	622.1	814.6	870.9
Net margin	27.22%	26.74%	26.26%	31.34%	34.28%	28.38%	28.25%	26.62%
EPS ²	0.4615	0.5800	0.6300	0.9400	1.200	1.220	1.600	1.710
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1538	0.1500	0.1500	0.2000	0.5000	0.2500	0.3500	0.3500
Announcement Date	28/02/20	06/04/21	22/04/22	21/04/23	18/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	10.9%	12.9%	12.7%	16.7%	18.2%	15.8%	17.3%	16.9%
ROA (Net income/ Total Assets)	-	10.5%	10.2%	11.7%	-	12.9%	13.3%	13.5%
Assets ¹	-	2,802	3,125	4,038	-	4,823	6,122	6,451
Book Value Per Share ²	4.090	4.750	5.230	6.060	7.100	7.830	9.370	10.40
Cash Flow per Share ²	0.3800	0.3400	0.3700	1.050	1.100	1.100	1.660	1.630
Capex ¹	81.9	103	253	107	53.7	109	103	900
Capex / Sales	9.18%	9.37%	20.94%	7.08%	3.03%	4.97%	3.58%	27.51%
Announcement Date	28/02/20	06/04/21	22/04/22	21/04/23	18/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

15.1 CNY

Average target price

18.66 CNY

Spread / Average Target

+23.55%

	1st Jan change	Capi.
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HEFEI MEYER OPTOELECTRONIC TECHNOLOGY INC.	-5.65%	2.26B
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CHANGCHUN UP OPTOTECH CO.,LTD.	-14.00%	962M
RIGOL TECHNOLOGIES CO., LTD.	-24.53%	849M
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