SHANGHAI HANBELL PRECISE MACHINERY CO., LTD.

Financials Shanghai Hanbell Precise Machinery Co., Ltd.

Equities

002158

CNE1000006J8

Industrial Machinery & Equipment

End-of-day quote Shenzhen S.E. Other stock markets 23:00:00 12/05/2024 BST			5-day change	1st Jan Change
20.4 ^CNY	-0.78%		-1.21%	-8.36%

04-26	Shanghai Hanbell Precise Machinery Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-25	Hangzhou Changhe Power Technology Co., Ltd. announced that it expects to receive CNY 11.489 million in funding from Shanghai Hanbell Precise Machinery Co., Ltd.	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,772	8,066	14,244	12,807	11,903	10,908	-	-
Enterprise Value (EV) ¹	4,772	8,066	14,244	12,391	11,422	9,545	9,057	8,501
P/E ratio	19.3 x	22.2 x	29.3 x	19.9 x	13.8 x	11.3 x	9.72 x	8.47 x
Yield	-	-	1.35%	1.84%	2.61%	3.15%	3.57%	4.08%
Capitalization / Revenue	2.64 x	3.55 x	4.78 x	3.92 x	3.09 x	2.5 x	2.14 x	1.91 x
EV / Revenue	2.64 x	3.55 x	4.78 x	3.79 x	2.97 x	2.19 x	1.78 x	1.49 x
EV / EBITDA	12.2 x	-	21.3 x	14.1 x	10.1 x	7.89 x	6.46 x	5.36 x
EV / FCF	-	-	32.9 x	39.3 x	19.1 x	8.9 x	16.6 x	6.44 x
FCF Yield	-	-	3.04%	2.54%	5.25%	11.2%	6.03%	15.5%
Price to Book	2.34 x	-	5.45 x	4.19 x	3.21 x	2.47 x	2.12 x	1.78 x
Nbr of stocks (in thousands)	535,029	534,882	534,882	534,724	534,724	534,724	-	-
Reference price ²	8.920	15.08	26.63	23.95	22.26	20.40	20.40	20.40
Announcement Date	30/04/20	24/02/21	11/02/22	17/02/23	24/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,807	2,273	2,981	3,266	3,852	4,356	5,093	5,702
EBITDA ¹	391.2	-	669.1	877.5	1,135	1,210	1,402	1,585
EBIT ¹	280	431.8	561.5	769.5	1,020	1,100	1,280	1,472
Operating Margin	15.5%	19%	18.83%	23.56%	26.47%	25.26%	25.12%	25.82%
Earnings before Tax (EBT) ¹	279.3	430.1	560.3	768	1,009	1,128	1,299	1,496
Net income ¹	246.2	360.3	487	644.4	865	966.1	1,121	1,287
Net margin	13.63%	15.85%	16.34%	19.73%	22.45%	22.18%	22.02%	22.58%
EPS ²	0.4629	0.6778	0.9095	1.205	1.618	1.808	2.098	2.409
Free Cash Flow ¹	-	-	433.2	315	599.3	1,073	546	1,320
FCF margin	-	-	14.53%	9.65%	15.56%	24.63%	10.72%	23.15%
FCF Conversion (EBITDA)	-	-	64.74%	35.9%	52.78%	88.69%	38.95%	83.26%
FCF Conversion (Net income)	-	-	88.96%	48.88%	69.28%	111.06%	48.69%	102.55%
Dividend per Share ²	-	-	0.3600	0.4400	0.5800	0.6424	0.7275	0.8315
Announcement Date	30/04/20	24/02/21	11/02/22	17/02/23	24/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q1	2022 Q2	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	-	774.6	-	966.3	930.1	690	1,079	1,137	946.2	749.4	1,146	1,312	1,178	919.1	1,314
EBITDA ¹	-	-	-	-	-	-	-	-	-	-	282.8	393.8	340.9	219.6	338.7
EBIT ¹	-	-	-	-	-	-	-	383.6	210.1	181.8	253.6	364.6	311.7	187.9	306.9
Operating Margin	-	-	-	-	-	-	-	33.73%	22.21%	24.26%	22.14%	27.8%	26.46%	20.44%	23.36%
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	91.17	154.8	246	-	-	-	-	314.3	185.1	146.4	218.7	302.1	278.2	159	263
Net margin	-	19.99%	-	-	-	-	-	27.64%	19.57%	19.53%	19.09%	23.03%	23.61%	17.3%	20.02%
EPS ²	0.1705	-	-	-	-	-	-	0.5900	0.3500	0.2737	0.4090	0.5650	0.5202	0.2973	0.4919
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	-	-	0.6118	-	-
Announcement Date	29/04/22	21/07/22	21/07/22	28/10/22	17/02/23	27/04/23	21/07/23	27/10/23	24/02/24	26/04/24	-	-	-	-	-

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	-	-	-	416	481	1,363	1,851	2,407
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	433	315	599	1,073	546	1,320
ROE (net income / shareholders' equity)	12.7%	-	20%	22.8%	25.8%	21.9%	21.9%	21.3%
ROA (Net income/ Total Assets)	-	-	11.2%	12.6%	-	13.5%	12.8%	11.3%
Assets ¹	-	-	4,352	5,122	-	7,146	8,795	11,405
Book Value Per Share ²	3.810	-	4.890	5.710	6.930	8.270	9.650	11.50
Cash Flow per Share ²	0.5700	-	1.190	0.9300	1.440	2.170	1.800	2.310
Capex ¹	-	-	202	184	173	195	193	189
Capex / Sales	-	-	6.76%	5.63%	4.49%	4.49%	3.8%	3.31%
Announcement Date	30/04/20	24/02/21	11/02/22	17/02/23	24/02/24	-	-	-

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

Ratings for Shanghai Hanbell Precise Machinery Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

20.4 CNY

Average target price

28.17 CNY

Spread / Average Target

+38.07%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Air & Gas Compressors

	1st Jan change	Capi.
SHANGHAI HANBELL PRECISE MACHINERY CO., LTD.	-8.36%	1.52B
ELGI EQUIPMENTS LIMITED	+15.07%	2.39B
BURCKHARDT COMPRESSION HOLDING AG	+19.92%	2.28B
PFEIFFER VACUUM TECHNOLOGY AG	+0.91%	1.65B
INGERSOLL-RAND (INDIA) LIMITED	+38.37%	1.65B
KIRLOSKAR PNEUMATIC COMPANY LIMITED	+75.51%	820M
CHANGHONG HUAYI COMPRESSOR CO., LTD.	+23.77%	695M
XIAMEN EAST ASIA MACHINERY INDUSTRIAL CO., LTD.	-19.52%	504M
RECHI PRECISION CO., LTD.	+31.85%	440M
SUZHOU INVOTECH SCROLL TECHNOLOGIES CO., LTD.	-29.95%	318M

Air & Gas Compressors