Financials Zhuzhou Kibing Group Co.,Ltd

Equities

601636

CNE100001666

Construction Supplies & Fixtures

End-of-day quote Shanghai S.E. 23:00:00 29/04/2024 BST 5-day change 1st Jan Change
7.82 CNY +1.16% Intraday chart for Zhuzhou Kibing Group Co.,Ltd +2.62% +14.33%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 14,755 33,695 45,421 30,263 18,156 20,758 - -
Enterprise Value (EV) 1 17,172 34,847 43,793 33,249 25,119 29,772 27,850 29,282
P/E ratio 10.6 x 18.6 x 11 x 23.3 x 10.6 x 10.1 x 8.35 x 7.71 x
Yield 5.46% 2.73% 4.68% 2.19% 4.82% 5.04% 5.74% 4.92%
Capitalization / Revenue 1.59 x 3.49 x 3.12 x 2.27 x 1.16 x 1.03 x 0.84 x 0.79 x
EV / Revenue 1.85 x 3.61 x 3.01 x 2.5 x 1.6 x 1.48 x 1.13 x 1.12 x
EV / EBITDA 6.69 x 11.3 x 7.4 x 13.3 x 7.63 x 7.64 x 6.06 x 5.39 x
EV / FCF - - 12 x -10.5 x - 21.5 x 17.5 x 12 x
FCF Yield - - 8.32% -9.57% - 4.64% 5.73% 8.34%
Price to Book 1.79 x 3.63 x 3.51 x 2.48 x 1.35 x 1.4 x 1.25 x 1.15 x
Nbr of stocks (in thousands) 2,687,703 2,632,441 2,656,173 2,656,992 2,654,445 2,654,447 - -
Reference price 2 5.490 12.80 17.10 11.39 6.840 7.820 7.820 7.820
Announcement Date 09/04/20 28/02/21 07/04/22 25/04/23 28/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,306 9,644 14,573 13,313 15,683 20,126 24,611 26,149
EBITDA 1 2,566 3,084 5,917 2,506 3,291 3,895 4,597 5,428
EBIT 1 1,581 2,097 4,914 1,421 2,012 2,409 2,906 3,155
Operating Margin 16.99% 21.75% 33.72% 10.67% 12.83% 11.97% 11.81% 12.06%
Earnings before Tax (EBT) 1 1,568 2,096 4,912 1,435 1,972 2,347 2,860 3,110
Net income 1 1,346 1,825 4,234 1,317 1,751 2,068 2,510 2,725
Net margin 14.47% 18.93% 29.05% 9.89% 11.17% 10.28% 10.2% 10.42%
EPS 2 0.5159 0.6871 1.558 0.4890 0.6437 0.7712 0.9362 1.014
Free Cash Flow 1 - - 3,643 -3,181 - 1,382 1,595 2,441
FCF margin - - 25% -23.9% - 6.87% 6.48% 9.34%
FCF Conversion (EBITDA) - - 61.57% - - 35.48% 34.7% 44.97%
FCF Conversion (Net income) - - 86.06% - - 66.82% 63.54% 89.56%
Dividend per Share 2 0.3000 0.3500 0.8000 0.2500 0.3300 0.3940 0.4486 0.3850
Announcement Date 09/04/20 28/02/21 07/04/22 25/04/23 28/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S1 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - 3,807 3,063 3,429 3,347 3,474 3,131 3,754 6,885 4,300 5,844 3,857 4,430 4,944 6,845
EBITDA - - - - - - - - - - - - - - -
EBIT 1 - 737.1 604.1 649.1 187.1 -19.63 121.4 610.2 - 672.7 571.3 561.4 573.7 566.2 959.9
Operating Margin - 19.36% 19.72% 18.93% 5.59% -0.56% 3.88% 16.25% - 15.65% 9.78% 14.56% 12.95% 11.45% 14.02%
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income 518.3 - - - - - - - - - - 441.9 - - -
Net margin - - - - - - - - - - - 11.46% - - -
EPS 2 - 0.2200 0.1907 0.2000 0.0700 0.0300 0.0446 0.2000 - 0.2200 0.1800 0.1622 0.1800 0.1800 0.2900
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 19/08/19 07/04/22 11/04/22 30/08/22 26/10/22 25/04/23 25/04/23 28/08/23 28/08/23 13/10/23 28/03/24 24/04/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,416 1,151 - 2,986 6,962 9,015 7,092 8,524
Net Cash position 1 - - 1,628 - - - - -
Leverage (Debt/EBITDA) 0.9419 x 0.3734 x - 1.192 x 2.115 x 2.314 x 1.543 x 1.57 x
Free Cash Flow 1 - - 3,643 -3,181 - 1,382 1,595 2,441
ROE (net income / shareholders' equity) 17.2% 20.8% 37.9% 10.4% 13.3% 13.9% 15.3% 15%
ROA (Net income/ Total Assets) 10.4% 13.4% 24% 5.8% 5.48% 5.9% 6.79% 5.7%
Assets 1 12,951 13,661 17,625 22,688 31,953 35,055 36,949 47,815
Book Value Per Share 2 3.060 3.530 4.880 4.600 5.050 5.590 6.270 6.780
Cash Flow per Share 2 0.7500 1.160 1.890 0.2100 0.5800 1.400 1.650 1.630
Capex 1 714 1,141 1,430 3,749 5,309 4,238 4,266 3,948
Capex / Sales 7.67% 11.83% 9.81% 28.16% 33.85% 21.06% 17.33% 15.1%
Announcement Date 09/04/20 28/02/21 07/04/22 25/04/23 28/03/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
7.82 CNY
Average target price
8.417 CNY
Spread / Average Target
+7.63%
Consensus
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