Financials Jiangsu Azure Corporation

Equities

End-of-day quote Shenzhen S.E. Other stock markets 23:00:00 09/05/2024 BST			5-day change	1st Jan Change
8.47 ^CNY	-2.64%		+0.71%	-0.59%

04-25	Jiangsu Azure Corporation Approves Cash Dividend for the Year 2023	CI
04-19	Jiangsu Azure Corporation Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,014	12,739	28,495	17,142	9,815	9,758	-	-
Enterprise Value (EV) ¹	4,014	12,739	30,807	18,326	9,815	9,758	9,758	9,758
P/E ratio	34.1 x	45.8 x	42.3 x	43 x	69.7 x	21.8 x	15.8 x	13 x
Yield	-	0.23%	0.25%	0.24%	0.18%	0.53%	0.71%	0.94%
Capitalization / Revenue	-	3.01 x	4.27 x	2.73 x	1.88 x	1.51 x	1.28 x	1.09 x
EV / Revenue	-	3.01 x	4.27 x	2.73 x	1.88 x	1.51 x	1.28 x	1.09 x
EV / EBITDA	-	-	25.1 x	22.8 x	19.8 x	10.8 x	8.51 x	7.02 x
EV / FCF	-	-	-289,171,044 x	-52,394,348 x	48,744,220 x	-	-	-
FCF Yield	-	-	-0%	-0%	0%	-	-	-
Price to Book	-	5.01 x	7.99 x	2.7 x	1.52 x	1.42 x	1.32 x	1.21 x
Nbr of stocks (in thousands)	981,312	981,465	1,035,822	1,152,047	1,152,047	1,152,047	-	-
Reference price ²	4.090	12.98	27.51	14.88	8.520	8.470	8.470	8.470
Announcement Date	28/02/20	08/02/21	09/03/22	24/04/23	02/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	4,234	6,680	6,285	5,222	6,452	7,613	8,977
EBITDA ¹	-	-	1,134	751.7	496.7	907.7	1,147	1,390
EBIT ¹	-	355.6	829.4	447.4	173.1	539	758.8	981.3
Operating Margin	-	8.4%	12.42%	7.12%	3.32%	8.35%	9.97%	10.93%
Earnings before Tax (EBT) ¹	-	356.6	837.1	451.6	173.7	539.5	759	984
Net income ¹	117.6	278	670.1	378.3	140.8	447.8	619.6	751.3
Net margin	-	6.57%	10.03%	6.02%	2.7%	6.94%	8.14%	8.37%
EPS ²	0.1199	0.2832	0.6508	0.3459	0.1222	0.3880	0.5360	0.6533
Free Cash Flow	-	-	-98.54	-327.2	201.4	-	-	-
FCF margin	-	-	-1.48%	-5.21%	3.86%	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	40.54%	-	-	-
FCF Conversion (Net income)	-	-	-	-	143%	-	-	-
Dividend per Share ²	-	0.0300	0.0700	0.0350	0.0150	0.0450	0.0600	0.0800
Announcement Date	28/02/20	08/02/21	09/03/22	24/04/23	02/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	2,311	1,183	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	2.039 x	1.574 x	-	-	-	-
Free Cash Flow	-	-	-98.5	-327	201	-	-	-
ROE (net income / shareholders' equity)	-	12.4%	21.8%	7.65%	2.2%	6.51%	8.35%	9.3%
ROA (Net income/ Total Assets)	-	-	7.94%	3.6%	-	3.78%	4.84%	5.99%
Assets ¹	-	-	8,443	10,523	-	11,858	12,802	12,554
Book Value Per Share ²	-	2.590	3.440	5.510	5.600	5.960	6.420	7.010
Cash Flow per Share ²	-	0.3300	0.5200	-	0.4800	0.4500	0.6800	0.8300
Capex ¹	-	129	599	802	350	499	584	306
Capex / Sales	-	3.05%	8.97%	12.76%	6.7%	7.74%	7.67%	3.41%
Announcement Date	28/02/20	08/02/21	09/03/22	24/04/23	02/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

8.47 CNY

Average target price

10.5 CNY

Spread / Average Target

+23.97%

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