Financials Shandong Donghong Pipe Industry Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 23:00:00 27/06/2024 BST			5-day change	1st Jan Change
10.18 ^CNY	-0.39%		-2.77%	-12.77%

04-25	Shandong Donghong Pipe Industry Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-25	Shandong Donghong Pipe Industry 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	3,095	3,277	2,983	2,998	2,610	-	-
Enterprise Value (EV) ¹	3,095	3,277	2,983	2,998	2,610	2,610	2,610
P/E ratio	9.73 x	24.4 x	20.3 x	18.5 x	8.55 x	6.94 x	7.54 x
Yield	3.09%	1.22%	1.5%	-	-	-	-
Capitalization / Revenue	1.29 x	1.48 x	1.02 x	1.05 x	0.73 x	0.62 x	0.52 x
EV / Revenue	1.29 x	1.48 x	1.02 x	1.05 x	0.73 x	0.62 x	0.52 x
EV / EBITDA	7.53 x	17.4 x	12.8 x	12.1 x	6.77 x	5.59 x	4.53 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	1.58 x	1.64 x	1.41 x	1.34 x	1.08 x	0.99 x	0.9 x
Nbr of stocks (in thousands)	256,415	258,035	257,387	256,901	256,415	-	-
Reference price ²	12.07	12.70	11.59	11.67	10.18	10.18	10.18
Announcement Date	26/01/21	28/01/22	30/01/23	25/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,393	2,209	2,939	2,864	3,570	4,233	4,986
EBITDA ¹	411.1	188.6	233.2	247.8	385.7	467	576.2
EBIT ¹	373.8	147.3	167.8	184.6	276.7	344.7	424.4
Operating Margin	15.62%	6.67%	5.71%	6.45%	7.75%	8.14%	8.51%
Earnings before Tax (EBT) ¹	372.5	149.1	167.3	188.3	257.3	319.9	392.5
Net income ¹	317.6	133	146.4	161.1	305.7	377.4	347.3
Net margin	13.28%	6.02%	4.98%	5.63%	8.56%	8.92%	6.97%
EPS ²	1.240	0.5200	0.5700	0.6300	1.190	1.467	1.350
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share	0.3730	0.1550	0.1740	-	-	-	-
Announcement Date	26/01/21	28/01/22	30/01/23	25/04/24	-	-	-

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	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	16.8%	6.72%	7.1%	7.31%	11.9%	13.1%	12.1%
ROA (Net income/ Total Assets)	12.8%	3.94%	3.79%	-	-	-	-
Assets ¹	2,486	3,379	3,862	-	-	-	-
Book Value Per Share ²	7.640	7.770	8.220	8.720	9.390	10.30	11.30
Cash Flow per Share ²	-0.1100	-0.7800	0.0700	0.7500	0.8800	1.230	1.070
Capex ¹	60.6	163	35.2	6.28	170	176	222
Capex / Sales	2.53%	7.37%	1.2%	0.22%	4.76%	4.17%	4.45%
Announcement Date	26/01/21	28/01/22	30/01/23	25/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.18 CNY

Average target price

13.3 CNY

Spread / Average Target

+30.65%

	1st Jan change	Capi.
SHANDONG DONGHONG PIPE INDUSTRY CO., LTD.	-12.77%	359M
GEBERIT AG	-1.52%	19.67B
ADVANCED DRAINAGE SYSTEMS, INC.	+14.04%	12.43B
ASTRAL LIMITED	+24.81%	7.67B
ZHEJIANG WEIXING NEW BUILDING MATERIALS CO., LTD.	+6.57%	3.34B
ALIAXIS SA	+7.14%	2.51B
FINOLEX INDUSTRIES LIMITED	+54.24%	2.41B
RELIANCE WORLDWIDE CORPORATION LIMITED	+2.03%	2.36B
PRINCE PIPES AND FITTINGS LIMITED	-9.22%	894M
GRUPO ROTOPLAS S.A.B. DE C.V.	-9.28%	723M