Stock 605378 ZHEJIANG MUSTANG BATTERY CO.,LTD
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Financials Zhejiang Mustang Battery Co.,Ltd

Equities

605378

CNE1000052Y1

Electrical Components & Equipment

End-of-day quote Shanghai S.E.
Other stock markets
 23:00:00 27/05/2024 BST 		5-day change 1st Jan Change
22.69 CNY -0.40% Intraday chart for Zhejiang Mustang Battery Co.,Ltd -1.94% -10.42%
04-28 Zhejiang Mustang Battery Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
04-28 Zhejiang Mustang Battery Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2021 2022 2023
Capitalization 1 3,848 2,837 3,378
Enterprise Value (EV) 1 3,105 2,046 2,621
P/E ratio 46.5 x 28.8 x 32.1 x
Yield 1.21% 2.35% 2.96%
Capitalization / Revenue 3.24 x 2.78 x 3.39 x
EV / Revenue 2.62 x 2.01 x 2.63 x
EV / EBITDA 31.2 x 19.6 x 20.3 x
EV / FCF -51.9 x 33.4 x 126 x
FCF Yield -1.93% 2.99% 0.79%
Price to Book 3.38 x 2.38 x 2.74 x
Nbr of stocks (in thousands) 133,340 133,340 133,340
Reference price 2 28.86 21.28 25.33
Announcement Date 27/04/22 25/04/23 28/04/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,052 990.6 1,099 1,187 1,020 996.9
EBITDA 1 136.1 158.7 165.8 99.42 104.3 128.8
EBIT 1 113.2 133.2 138.5 65.98 69.94 95.85
Operating Margin 10.76% 13.45% 12.6% 5.56% 6.86% 9.61%
Earnings before Tax (EBT) 1 124.9 145.4 135.7 83.68 111.4 121.5
Net income 1 104.9 123.2 118.3 75.84 98.67 105.5
Net margin 9.97% 12.44% 10.76% 6.39% 9.67% 10.59%
EPS 2 1.050 1.230 1.180 0.6200 0.7400 0.7900
Free Cash Flow 1 -55.15 95.05 63.94 -59.85 61.23 20.82
FCF margin -5.24% 9.6% 5.82% -5.04% 6% 2.09%
FCF Conversion (EBITDA) - 59.9% 38.57% - 58.73% 16.16%
FCF Conversion (Net income) - 77.15% 54.07% - 62.05% 19.73%
Dividend per Share 2 0.6800 0.4000 0.5000 0.3500 0.5000 0.7500
Announcement Date 28/06/19 28/04/21 28/04/21 27/04/22 25/04/23 28/04/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 110 201 271 743 792 756
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -55.2 95.1 63.9 -59.8 61.2 20.8
ROE (net income / shareholders' equity) 26.3% 25.8% 21.7% 8.81% 8.48% 8.72%
ROA (Net income/ Total Assets) 9.87% 11.2% 10.4% 3.53% 3% 3.92%
Assets 1 1,063 1,102 1,142 2,147 3,294 2,691
Book Value Per Share 2 4.490 5.050 5.840 8.530 8.920 9.230
Cash Flow per Share 2 0.5800 0.4800 0.4200 0.4100 0.7200 1.590
Capex 1 31.1 34.9 52.2 80.8 87.7 77.2
Capex / Sales 2.96% 3.53% 4.75% 6.81% 8.6% 7.75%
Announcement Date 28/06/19 28/04/21 28/04/21 27/04/22 25/04/23 28/04/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Batteries & Uninterruptable Power Supplies

1st Jan change Capi.
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Batteries & Uninterruptable Power Supplies
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