Financials Luenmei Quantum Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 23:00:00 25/04/2024 BST			5-day change	1st Jan Change
6.02 ^CNY	+2.03%		+0.33%	+6.17%

04-02	Tranche Update on Luenmei Quantum Co.,Ltd's Equity Buyback Plan announced on November 16, 2023.	CI
01-04	Tranche Update on Luenmei Quantum Co.,Ltd's Equity Buyback Plan announced on November 16, 2023.	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	15,911	30,112	25,970	20,431	14,301	13,622	13,622	-
Enterprise Value (EV) ¹	15,911	30,112	25,970	20,431	14,301	13,622	13,622	13,622
P/E ratio	12.1 x	18.9 x	15.4 x	19.5 x	15.1 x	12.7 x	11 x	9.83 x
Yield	1.66%	-	-	-	-	3.65%	-	-
Capitalization / Revenue	5.24 x	8.87 x	7.22 x	5.89 x	4.14 x	3.67 x	3.4 x	3.15 x
EV / Revenue	5.24 x	8.87 x	7.22 x	5.89 x	4.14 x	3.67 x	3.4 x	3.15 x
EV / EBITDA	7.93 x	12.5 x	10.8 x	-	9.29 x	7.51 x	6.52 x	5.8 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	2.61 x	3.98 x	2.96 x	2.36 x	1.37 x	1.25 x	1.17 x	1.09 x
Nbr of stocks (in thousands)	2,288,119	2,288,119	2,288,119	2,267,579	2,262,840	2,262,840	2,262,840	-
Reference price ²	6.954	13.16	11.35	9.010	6.320	6.020	6.020	6.020
Announcement Date	11/03/19	30/04/20	29/04/21	28/04/22	28/04/23	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	3,037	3,396	3,598	3,468	3,450	3,709	4,002	4,320
EBITDA ¹	2,006	2,404	2,414	-	1,540	1,813	2,088	2,350
EBIT ¹	1,693	2,078	2,117	1,296	1,195	1,376	1,579	1,786
Operating Margin	55.73%	61.18%	58.84%	37.36%	34.65%	37.1%	39.46%	41.34%
Earnings before Tax (EBT) ¹	1,706	2,095	2,125	1,303	1,208	1,384	1,587	1,794
Net income ¹	1,317	1,592	1,685	1,046	944	1,085	1,245	1,407
Net margin	43.36%	46.86%	46.84%	30.17%	27.36%	29.25%	31.12%	32.57%
EPS ²	0.5755	0.6956	0.7366	0.4613	0.4172	0.4750	0.5450	0.6125
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1154	-	-	-	-	0.2200	-	-
Announcement Date	11/03/19	30/04/20	29/04/21	28/04/22	28/04/23	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	17.5%	23.7%	20.6%	12.1%	9.51%	9.88%	10.7%	11.3%
ROA (Net income/ Total Assets)	11.7%	13.8%	-	-	-	6.2%	6.4%	6.7%
Assets ¹	11,285	11,552	-	-	-	17,499	19,460	20,998
Book Value Per Share ²	2.670	3.310	3.840	3.810	4.620	4.840	5.150	5.500
Cash Flow per Share ²	0.5000	0.6300	0.4100	0.7400	0.6300	0.6500	0.8400	0.8600
Capex ¹	517	344	356	-	310	750	792	820
Capex / Sales	17.04%	10.13%	9.89%	-	9%	20.22%	19.8%	18.98%
Announcement Date	11/03/19	30/04/20	29/04/21	28/04/22	28/04/23	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.02 CNY

Average target price

7.81 CNY

Spread / Average Target

+29.73%

	1st Jan change	Capi.
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