Financials Xi'an Sinofuse Electric Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 23:00:00 23/05/2024 BST			5-day change	1st Jan Change
88.12 ^CNY	-2.14%		+11.80%	-32.61%

05-23	Xi'an Sinofuse Electric Co., Ltd. Approves Cash Dividend for 2023	CI
04-24	Xi'an Sinofuse Electric Co., Ltd. Proposes Final Cash Dividend for 2023	CI

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	10,082	10,803	8,666	5,840	-	-
Enterprise Value (EV) ¹	10,082	10,803	8,666	5,840	5,840	5,840
P/E ratio	112 x	70.2 x	77.4 x	28.1 x	17.7 x	13.7 x
Yield	-	-	0.46%	0.96%	1.46%	1.96%
Capitalization / Revenue	-	14.3 x	8.18 x	4.05 x	3.07 x	2.34 x
EV / Revenue	-	14.3 x	8.18 x	4.05 x	3.07 x	2.34 x
EV / EBITDA	-	59 x	54.1 x	21.1 x	14.2 x	10.3 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	-	12.9 x	8.79 x	5.04 x	3.97 x	3.23 x
Nbr of stocks (in thousands)	66,277	66,277	66,277	66,277	-	-
Reference price ²	152.1	163.0	130.8	88.12	88.12	88.12
Announcement Date	24/04/22	25/04/23	23/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	-	754.6	1,060	1,442	1,899	2,500
EBITDA ¹	-	-	183.2	160.3	277.1	411.6	567.1
EBIT ¹	-	-	172.3	134	234.8	374.6	483.3
Operating Margin	-	-	22.84%	12.65%	16.28%	19.72%	19.33%
Earnings before Tax (EBT) ¹	-	-	174.2	136.3	236.1	376	484.9
Net income ¹	55.39	80.48	153.8	117	208.3	330	425.5
Net margin	-	-	20.38%	11.04%	14.44%	17.37%	17.02%
EPS ²	1.110	1.360	2.321	1.690	3.140	4.973	6.425
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.6000	0.8500	1.290	1.730
Announcement Date	01/07/21	24/04/22	25/04/23	23/04/24	-	-	-

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)	-	-	19.8%	12.9%	19.2%	23.1%	24.3%
ROA (Net income/ Total Assets)	-	-	13.1%	7.67%	8.96%	10.5%	11.2%
Assets ¹	-	-	1,171	1,524	2,326	3,150	3,810
Book Value Per Share ²	-	-	12.60	14.90	17.50	22.20	27.30
Cash Flow per Share ²	-	-	0.5700	1.280	2.040	3.320	4.470
Capex ¹	-	-	188	192	171	181	256
Capex / Sales	-	-	24.92%	18.16%	11.85%	9.51%	10.22%
Announcement Date	01/07/21	24/04/22	25/04/23	23/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

88.12 CNY

Average target price

103.8 CNY

Spread / Average Target

+17.74%

	1st Jan change	Capi.
XI'AN SINOFUSE ELECTRIC CO., LTD.	-32.61%	806M
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SHANGHAI LIANGXIN ELECTRICAL CO.,LTD.	-3.51%	1.32B
NITTO KOGYO CORPORATION	-1.53%	854M
GUANGZHOU BAIYUN ELECTRIC EQUIPMENT CO., LTD.	-4.50%	562M
SHANGHAI ZHEZHONG GROUP CO.,LTD	-19.01%	543M
ULUSOY ELEKTRIK IMALAT TAAHHÜT VE TICARET	+41.05%	460M
ZHEJIANG TENGEN ELECTRICS CO.,LTD.	-15.47%	435M
WUXI NEW HONGTAI ELECTRICAL TECHNOLOGY CO.,LTD	-24.47%	343M
HOLLYLAND (CHINA) ELECTRONICS TECHNOLOGY CORPORATION LIMITED	-50.26%	286M