Financials Qingdao Hiron Commercial Cold Chain Co., Ltd.

Equities

603187

CNE100003JG7

Electrical Components & Equipment

End-of-day quote Shanghai S.E. 23:00:00 29/04/2024 BST 5-day change 1st Jan Change
14 CNY -3.65% Intraday chart for Qingdao Hiron Commercial Cold Chain Co., Ltd. -3.71% -7.65%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,695 9,509 11,602 8,756 5,859 5,410 - -
Enterprise Value (EV) 1 3,695 9,509 11,602 8,756 5,859 5,410 5,410 5,410
P/E ratio 16.7 x 36.8 x 49.9 x 27.6 x 14 x 10.9 x 9.33 x 8.19 x
Yield - - - 1.1% 3.63% 2.71% 3.75% 4.32%
Capitalization / Revenue 2.41 x 5.03 x 4.36 x 3.01 x 1.83 x 1.46 x 1.28 x 1.12 x
EV / Revenue 2.41 x 5.03 x 4.36 x 3.01 x 1.83 x 1.46 x 1.28 x 1.12 x
EV / EBITDA 12,809,824 x 26,134,151 x 33,856,541 x - - - - -
EV / FCF - - - - 13.4 x 18.5 x 18.6 x 10.9 x
FCF Yield - - - - 7.48% 5.42% 5.38% 9.15%
Price to Book 2.52 x 5.64 x 4.9 x 2.4 x 1.47 x 1.25 x 1.16 x 1.06 x
Nbr of stocks (in thousands) 310,621 310,621 342,316 386,475 386,446 386,430 - -
Reference price 2 11.90 30.61 33.89 22.66 15.16 14.00 14.00 14.00
Announcement Date 09/03/20 22/04/21 26/04/22 26/04/23 21/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,536 1,890 2,662 2,905 3,205 3,706 4,235 4,826
EBITDA 288.4 363.8 342.7 - - - - -
EBIT 1 249.5 314.3 279.4 - 489 582 687 782
Operating Margin 16.25% 16.63% 10.5% - 15.26% 15.7% 16.22% 16.2%
Earnings before Tax (EBT) 1 253.4 312.5 274.7 340.8 484.9 578 683 778
Net income 1 218.8 268.1 225.2 292.2 413.1 497 580 661
Net margin 14.25% 14.18% 8.46% 10.06% 12.89% 13.41% 13.7% 13.7%
EPS 2 0.7106 0.8316 0.6786 0.8214 1.080 1.290 1.500 1.710
Free Cash Flow 1 - - - - 438.1 293 291 495
FCF margin - - - - 13.67% 7.91% 6.87% 10.26%
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - 106.06% 58.95% 50.17% 74.89%
Dividend per Share 2 - - - 0.2500 0.5500 0.3800 0.5250 0.6050
Announcement Date 09/03/20 22/04/21 26/04/22 26/04/23 21/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 - 425.8 587.6 890.3 1,119 488.7 706.5 851.6 1,289 563 814 1,176 1,479
EBITDA - - - - - - - - - - - - -
EBIT - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income 201.6 - - - - - - - - - - - -
Net margin - - - - - - - - - - - - -
EPS 0.6000 - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 25/08/22 27/10/22 26/04/23 26/04/23 14/08/23 26/10/23 21/03/24 25/04/24 - - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - - 438 293 291 495
ROE (net income / shareholders' equity) 16% 16.5% 10.4% 10% 10.9% 11.5% 12.3% 12.6%
ROA (Net income/ Total Assets) - - - - 7.68% 7.7% 7.9% 8.1%
Assets 1 - - - - 5,379 6,455 7,342 8,160
Book Value Per Share 2 4.710 5.420 6.910 9.430 10.30 11.20 12.10 13.20
Cash Flow per Share 2 0.6200 1.200 0.1600 0.3400 1.650 0.9000 1.040 1.180
Capex 1 - 161 - - 199 286 276 254
Capex / Sales - 8.54% - - 6.21% 7.72% 6.52% 5.26%
Announcement Date 09/03/20 22/04/21 26/04/22 26/04/23 21/03/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
14 CNY
Average target price
18.4 CNY
Spread / Average Target
+31.43%
Consensus

Quarterly revenue - Rate of surprise

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