Financials Winall Hi-tech Seed Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 23:00:00 28/04/2024 BST			5-day change	1st Jan Change
7.68 ^CNY	+2.40%		-3.88%	-8.35%

04-24	Winall Hi-tech Seed Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
03-25	Winall Hi-Tech Seed Co., Ltd. Proposes Cash Dividend for the Year 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,288	12,626	12,531	10,456	7,939	7,276	-	-
Enterprise Value (EV) ¹	4,288	12,626	12,531	10,456	7,939	7,276	7,276	7,276
P/E ratio	46 x	95.7 x	78 x	46 x	28.9 x	21.5 x	17.3 x	14.2 x
Yield	-	-	-	-	1.19%	1.3%	1.3%	-
Capitalization / Revenue	3.72 x	7.88 x	4.97 x	3 x	1.93 x	1.43 x	1.17 x	0.92 x
EV / Revenue	3.72 x	7.88 x	4.97 x	3 x	1.93 x	1.43 x	1.17 x	0.92 x
EV / EBITDA	-	66.5 x	43.8 x	25.4 x	17.2 x	12.1 x	10.1 x	8.16 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	19.5 x	9.65 x	6.35 x	4.07 x	3.27 x	2.82 x	2.36 x
Nbr of stocks (in thousands)	889,026	865,611	865,611	909,250	947,332	947,332	-	-
Reference price ²	4.824	14.59	14.48	11.50	8.380	7.680	7.680	7.680
Announcement Date	24/04/20	22/02/21	18/02/22	16/02/23	02/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,154	1,602	2,521	3,491	4,110	5,096	6,212	7,914
EBITDA ¹	-	189.9	286.4	411.8	462.4	600.1	721.4	891.4
EBIT ¹	-	144.2	226.5	319.6	355.5	432.8	528.1	642.3
Operating Margin	-	9%	8.98%	9.16%	8.65%	8.49%	8.5%	8.12%
Earnings before Tax (EBT) ¹	-	146.2	213	307.4	364	430.6	524	637.5
Net income ¹	-	133.4	169	233.3	274.9	338.3	418.6	515
Net margin	-	8.33%	6.71%	6.68%	6.69%	6.64%	6.74%	6.51%
EPS ²	0.1048	0.1524	0.1857	0.2500	0.2900	0.3567	0.4433	0.5400
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	0.1000	0.1000	0.1000	-
Announcement Date	24/04/20	22/02/21	18/02/22	16/02/23	02/02/24	-	-	-

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)	-	24.9%	16.5%	15.6%	15.1%	14.2%	15.2%	14.8%
ROA (Net income/ Total Assets)	-	-	-	-	-	4.8%	5.6%	-
Assets ¹	-	-	-	-	-	7,047	7,476	-
Book Value Per Share ²	-	0.7500	1.500	1.810	2.060	2.350	2.720	3.260
Cash Flow per Share ²	-	-0.0700	0.4800	0.4200	0.3000	0.2600	0.9000	-0.1700
Capex ¹	-	-	-	-	192	279	269	259
Capex / Sales	-	-	-	-	4.67%	5.48%	4.34%	3.28%
Announcement Date	24/04/20	22/02/21	18/02/22	16/02/23	02/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

7.68 CNY

Average target price

10.25 CNY

Spread / Average Target

+33.46%

	1st Jan change	Capi.
WINALL HI-TECH SEED CO., LTD.	-8.35%	980M
YUAN LONG PING HIGH-TECH AGRICULTURE CO., LTD.	-12.55%	2.25B
JIANGSU PROVINCIAL AGRICULTURAL RECLAMATION AND DEVELOPMENT CO.,LTD.	+0.49%	2.01B
SHANDONGDENGHAI SEEDS CO.,LTD	-25.93%	1.19B
GDH SUPERTIME GROUP COMPANY LIMITED	-7.55%	754M
CRESUD SOCIEDAD ANÓNIMA, COMERCIAL, INMOBILIARIA, FINANCIERA Y AGROPECUARIA	+8.44%	671M
PT SAWIT SUMBERMAS SARANA TBK.	+5.74%	590M
BRASILAGRO - COMPANHIA BRASILEIRA DE PROPRIEDADES AGRÍCOLAS	-2.62%	492M
GANSU DUNHUANG SEED GROUP CO.,LTD.	-8.83%	383M
ORIGIN ENTERPRISES PLC	-3.05%	380M