Financials Road Environment Technology Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 23:00:00 13/05/2024 BST			5-day change	1st Jan Change
16.9 ^CNY	+1.93%		-2.82%	-29.64%

04-25	Road Environment Technology Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
02-26	Road Environment Technology Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,886	1,795	2,767	2,419	1,702	-	-
Enterprise Value (EV) ¹	1,886	1,795	2,767	2,419	1,702	1,702	1,702
P/E ratio	32.1 x	23.8 x	107 x	85.8 x	34.5 x	12.5 x	10.4 x
Yield	-	-	-	0.21%	4.79%	3.46%	-
Capitalization / Revenue	-	4.7 x	8.09 x	6.89 x	2.97 x	1.6 x	1.33 x
EV / Revenue	-	4.7 x	8.09 x	6.89 x	2.97 x	1.6 x	1.33 x
EV / EBITDA	-	-	32.8 x	34.7 x	9.25 x	6.16 x	3.48 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	-	2.33 x	3.57 x	2.7 x	1.82 x	1.5 x	1.51 x
Nbr of stocks (in thousands)	91,840	91,840	92,374	100,714	100,714	-	-
Reference price ²	20.54	19.55	29.95	24.02	16.90	16.90	16.90
Announcement Date	12/04/21	24/02/22	27/02/23	27/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	382	342.1	351.1	573.6	1,062	1,282
EBITDA ¹	-	-	84.42	69.69	184	276.2	489.3
EBIT ¹	-	86.13	50.85	34.41	62.49	165	239.7
Operating Margin	-	22.55%	14.87%	9.8%	10.89%	15.54%	18.7%
Earnings before Tax (EBT) ¹	-	89.67	49.88	33.85	62.11	165.7	238.9
Net income ¹	47.74	75.54	25.93	26.97	48.98	136	163.2
Net margin	-	19.77%	7.58%	7.68%	8.54%	12.81%	12.73%
EPS ²	0.6400	0.8200	0.2800	0.2800	0.4900	1.347	1.620
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.0500	0.8100	0.5850	-
Announcement Date	12/04/21	24/02/22	27/02/23	27/02/24	-	-	-

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	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	10.2%	3.35%	3.19%	5.33%	11.5%	14.5%
ROA (Net income/ Total Assets)	-	-	-	-	4.85%	6.2%	-
Assets ¹	-	-	-	-	1,010	2,194	-
Book Value Per Share ²	-	8.390	8.390	8.910	9.300	11.30	11.20
Cash Flow per Share ²	-	0.4900	0.0400	-0.1900	-0.5700	0.3600	1.020
Capex ¹	-	57.2	147	305	163	135	-
Capex / Sales	-	14.97%	43.07%	86.76%	28.42%	12.72%	-
Announcement Date	12/04/21	24/02/22	27/02/23	27/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

16.9 CNY

Average target price

17.65 CNY

Spread / Average Target

+4.44%

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CHINA CONCH VENTURE HOLDINGS LIMITED	-2.16%	1.45B