Financials Shenzhen Sinexcel Electric Co.,Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 23:00:00 15/05/2024 BST			5-day change	1st Jan Change
26.9 ^CNY	-1.79%		-8.60%	-10.06%

04-24	Shenzhen Sinexcel Electric Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-01	Tranche Update on Shenzhen Sinexcel Electric Co.,Ltd.'s Equity Buyback Plan announced on November 9, 2023.	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,777	7,532	11,142	9,251	8,348	-	-
Enterprise Value (EV) ¹	3,777	7,532	11,142	9,251	8,348	8,348	8,348
P/E ratio	35.4 x	66.4 x	49.9 x	23 x	15.7 x	11.8 x	9.15 x
Yield	0.58%	-	0.41%	1.1%	1.41%	1.84%	2.57%
Capitalization / Revenue	4.9 x	-	7.41 x	3.49 x	2.28 x	1.69 x	1.3 x
EV / Revenue	4.9 x	-	7.41 x	3.49 x	2.28 x	1.69 x	1.3 x
EV / EBITDA	-	-	41 x	18.9 x	12.8 x	9.63 x	7.55 x
EV / FCF	-	-	-	31.6 x	29.9 x	13.9 x	-
FCF Yield	-	-	-	3.16%	3.34%	7.19%	-
Price to Book	5 x	-	10.5 x	6.37 x	4.35 x	3.27 x	2.53 x
Nbr of stocks (in thousands)	307,253	307,253	307,253	309,294	310,332	-	-
Reference price ²	12.29	24.51	36.26	29.91	26.90	26.90	26.90
Announcement Date	09/04/21	26/04/22	27/02/23	27/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	771.4	-	1,503	2,651	3,659	4,939	6,425
EBITDA ¹	-	-	272	488.9	653	866.5	1,106
EBIT ¹	121.2	-	247.6	456.5	592.9	793.3	1,025
Operating Margin	15.72%	-	16.47%	17.22%	16.2%	16.06%	15.95%
Earnings before Tax (EBT) ¹	121.6	-	246.3	456	593.1	793.1	1,024
Net income ¹	106.1	-	223.5	402.8	530.6	709.9	912.4
Net margin	13.76%	-	14.87%	15.2%	14.5%	14.37%	14.2%
EPS ²	0.3474	0.3693	0.7266	1.302	1.714	2.289	2.940
Free Cash Flow ¹	-	-	-	292.8	279	600	-
FCF margin	-	-	-	11.04%	7.62%	12.15%	-
FCF Conversion (EBITDA)	-	-	-	59.89%	42.73%	69.24%	-
FCF Conversion (Net income)	-	-	-	72.68%	52.58%	84.52%	-
Dividend per Share ²	0.0713	-	0.1470	0.3300	0.3800	0.4950	0.6900
Announcement Date	09/04/21	26/04/22	27/02/23	27/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow ¹	-	-	293	279	600	-
ROE (net income / shareholders' equity)	15%	23.5%	31.8%	29.2%	29%	28.4%
ROA (Net income/ Total Assets)	9.2%	-	14.4%	12.8%	12.8%	13%
Assets ¹	1,154	-	2,804	4,140	5,561	7,008
Book Value Per Share ²	2.460	3.460	4.700	6.180	8.220	10.60
Cash Flow per Share ²	0.3700	0.6600	1.420	1.380	2.610	2.840
Capex ¹	160	143	146	183	156	194
Capex / Sales	20.75%	9.52%	5.5%	4.99%	3.16%	3.02%
Announcement Date	09/04/21	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

26.9 CNY

Average target price

40.87 CNY

Spread / Average Target

+51.92%

	1st Jan change	Capi.
SHENZHEN SINEXCEL ELECTRIC CO.,LTD.	-10.06%	1.16B
SIEMENS AG	+0.95%	149B
SCHNEIDER ELECTRIC SE	+26.33%	141B
EATON CORPORATION PLC	+37.11%	132B
EMERSON ELECTRIC CO.	+15.90%	64.53B
AMETEK, INC.	+1.83%	38.87B
VERTIV HOLDINGS CO	+102.61%	36.42B
WEG S.A.	+7.29%	32.41B
ROCKWELL AUTOMATION, INC.	-12.67%	30.91B
LEGRAND	+7.23%	29.41B