Financials TianJin 712 Communication & Broadcasting Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 23:00:00 25/04/2024 BST			5-day change	1st Jan Change
22.65 ^CNY	+2.72%		+8.48%	-28.12%

03-27	TianJin 712 Communication & Broadcasting Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	TianJin 712 Communication & Broadcasting Co., Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	18,667	32,154	33,428	26,958	24,326	17,486	-	-
Enterprise Value (EV) ¹	18,667	32,154	33,428	26,958	24,326	17,486	17,486	17,486
P/E ratio	53.7 x	61.3 x	48.7 x	34.9 x	55.3 x	20.9 x	13.6 x	13.6 x
Yield	-	-	0.23%	-	-	-	-	-
Capitalization / Revenue	-	-	9.69 x	6.67 x	7.44 x	3.53 x	2.68 x	2.47 x
EV / Revenue	-	-	9.69 x	6.67 x	7.44 x	3.53 x	2.68 x	2.47 x
EV / EBITDA	-	-	45.6 x	32.2 x	52.5 x	17.5 x	12.3 x	12.1 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	-	9.25 x	6.26 x	5.21 x	3.2 x	2.48 x	2.29 x
Nbr of stocks (in thousands)	772,000	772,000	772,000	772,000	772,000	772,000	-	-
Reference price ²	24.18	41.65	43.30	34.92	31.51	22.65	22.65	22.65
Announcement Date	17/03/20	17/03/21	10/03/22	30/03/23	27/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	-	3,451	4,040	3,268	4,960	6,536	7,073
EBITDA ¹	-	-	732.5	836.2	463.4	997.3	1,424	1,451
EBIT ¹	-	-	663.7	767.9	419.7	856	1,290	1,314
Operating Margin	-	-	19.23%	19.01%	12.84%	17.26%	19.73%	18.57%
Earnings before Tax (EBT) ¹	-	-	663.8	768.9	419.6	856.2	1,290	1,314
Net income ¹	345.3	523.1	688.3	774.9	439.8	838.4	1,285	1,289
Net margin	-	-	19.95%	19.18%	13.46%	16.9%	19.66%	18.22%
EPS ²	0.4500	0.6800	0.8900	1.000	0.5700	1.085	1.663	1.670
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	0.1000	-	-	-	-	-
Announcement Date	17/03/20	17/03/21	10/03/22	30/03/23	27/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	-	20.9%	19.5%	9.84%	15.2%	18.1%	16.8%
ROA (Net income/ Total Assets)	-	-	8.9%	7.89%	4.49%	9.1%	10%	-
Assets ¹	-	-	7,732	9,823	9,795	9,213	12,848	-
Book Value Per Share ²	-	-	4.680	5.580	6.050	7.070	9.120	9.870
Cash Flow per Share ²	-	-	0.4300	0.0600	-0.0500	0.2400	1.220	0.4500
Capex ¹	-	-	162	114	99	377	120	243
Capex / Sales	-	-	4.69%	2.83%	3.03%	7.6%	1.83%	3.43%
Announcement Date	17/03/20	17/03/21	10/03/22	30/03/23	27/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

22.65 CNY

Average target price

31.24 CNY

Spread / Average Target

+37.90%

	1st Jan change	Capi.
TIANJIN 712 COMMUNICATION & BROADCASTING CO., LTD.	-28.12%	2.41B
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MOTOROLA SOLUTIONS, INC.	+10.66%	57.73B
GARMIN LTD.	+11.60%	27.55B
NOKIA OYJ	+12.37%	20.23B
ZHONGJI INNOLIGHT CO., LTD.	+63.72%	20.06B
ZTE CORPORATION	+8.53%	17.63B
JUNIPER NETWORKS, INC.	+17.74%	11.26B