Financials Jiangxi Jovo Energy Co., Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 23:00:00 12/05/2024 BST			5-day change	1st Jan Change
27.65 ^CNY	+0.69%		+5.21%	-1.00%

04-22	Jiangxi Jovo Energy Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-09	Jiangxi Jovo Energy Co., Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	15,579	12,915	17,280	17,201	-	-
Enterprise Value (EV) ¹	15,579	12,915	17,280	17,201	17,201	17,201
P/E ratio	23.1 x	11.7 x	14.3 x	11.5 x	9.8 x	8.65 x
Yield	-	1.45%	1.43%	2.04%	2.34%	2.66%
Capitalization / Revenue	0.84 x	0.54 x	0.65 x	0.6 x	0.58 x	0.54 x
EV / Revenue	0.84 x	0.54 x	0.65 x	0.6 x	0.58 x	0.54 x
EV / EBITDA	15.7 x	8.99 x	9.51 x	7.89 x	6.93 x	6.13 x
EV / FCF	-	8.15 x	17.7 x	35.7 x	19.5 x	15 x
FCF Yield	-	12.3%	5.65%	2.8%	5.14%	6.69%
Price to Book	2.72 x	1.92 x	2.3 x	1.94 x	1.66 x	1.45 x
Nbr of stocks (in thousands)	620,158	625,414	618,704	622,107	-	-
Reference price ²	25.12	20.65	27.93	27.65	27.65	27.65
Announcement Date	12/04/22	07/03/23	09/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	18,488	23,954	26,566	28,438	29,819	32,069
EBITDA ¹	-	990.7	1,436	1,817	2,179	2,482	2,804
EBIT ¹	-	762.6	1,245	1,488	1,763	2,036	2,299
Operating Margin	-	4.12%	5.2%	5.6%	6.2%	6.83%	7.17%
Earnings before Tax (EBT) ¹	-	766.1	1,270	1,487	1,771	2,043	2,303
Net income ¹	767.6	619.7	1,090	1,306	1,542	1,782	2,012
Net margin	-	3.35%	4.55%	4.92%	5.42%	5.98%	6.28%
EPS ²	1.521	1.086	1.760	1.950	2.409	2.820	3.198
Free Cash Flow ¹	-	-	1,584	977.1	482	884	1,150
FCF margin	-	-	6.61%	3.68%	1.69%	2.96%	3.59%
FCF Conversion (EBITDA)	-	-	110.35%	53.77%	22.12%	35.61%	41.01%
FCF Conversion (Net income)	-	-	145.36%	74.82%	31.26%	49.6%	57.14%
Dividend per Share ²	-	-	0.3000	0.4000	0.5633	0.6467	0.7367
Announcement Date	29/04/21	12/04/22	07/03/23	09/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	1,584	977	482	884	1,150
ROE (net income / shareholders' equity)	-	14.2%	17.7%	17.9%	17.2%	17%	16.9%
ROA (Net income/ Total Assets)	-	8%	9.64%	-	9.75%	9.95%	10.1%
Assets ¹	-	7,744	11,309	-	15,820	17,915	19,876
Book Value Per Share ²	-	9.250	10.80	12.10	14.20	16.70	19.10
Cash Flow per Share ²	-	0.1600	2.710	3.430	2.530	3.990	3.590
Capex ¹	-	728	111	1,181	1,236	1,273	1,122
Capex / Sales	-	3.94%	0.47%	4.45%	4.35%	4.27%	3.5%
Announcement Date	29/04/21	12/04/22	07/03/23	09/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

27.65 CNY

Average target price

36.38 CNY

Spread / Average Target

+31.56%

	1st Jan change	Capi.
JIANGXI JOVO ENERGY CO., LTD	-1.00%	2.36B
THE HONG KONG AND CHINA GAS CO LTD	+5.69%	15B
ENN ENERGY HOLDINGS LIMITED	+33.13%	11.03B
KUNLUN ENERGY COMPANY LIMITED	+16.19%	8.9B
CHINA RESOURCES GAS GROUP LIMITED	+7.23%	8.06B
ENN NATURAL GAS CO.,LTD.	+10.58%	7.96B
GRUPO ENERGÍA BOGOTÁ S.A. E.S.P.	+33.16%	5.98B
NEW FORTRESS ENERGY INC.	-28.23%	5.52B
SOUTHWEST GAS HOLDINGS, INC.	+19.72%	5.47B
UGI CORPORATION	+0.24%	5.22B