Financials Anhui Heli Co.,Ltd.

Equities

600761

CNE000000MM6

Heavy Machinery & Vehicles

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-30 pm EDT			5-day change	1st Jan Change
24.36 ^CNY	-1.10%		-5.32%	+33.77%

May. 23	Anhui Heding Electromechanical Equipment Co., Ltd. announced that it expects to receive CNY 100 million in funding from Huainan Jindali Storage Batteries Co., Ltd., Tianjin Lishen Battery Co., Ltd., Anhui Heli Co.,Ltd.	CI
Apr. 29	Anhui Heli's Profit Climbs 48%, Operating Income Up 3% in Q1	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,202	10,511	9,260	9,733	13,479	19,226	-	-
Enterprise Value (EV) ¹	6,094	8,992	8,806	9,733	13,479	19,226	19,226	19,226
P/E ratio	11.1 x	14.3 x	14.5 x	10.8 x	12.6 x	12 x	10.4 x	8.39 x
Yield	3.6%	2.46%	2.81%	3.04%	3.29%	2.82%	3.12%	4.41%
Capitalization / Revenue	0.71 x	0.82 x	0.6 x	0.62 x	0.77 x	0.97 x	0.86 x	0.76 x
EV / Revenue	0.71 x	0.82 x	0.6 x	0.62 x	0.77 x	0.97 x	0.86 x	0.76 x
EV / EBITDA	6.72 x	9.14 x	8.47 x	7.09 x	7.17 x	8.52 x	7.51 x	5.96 x
EV / FCF	-	-	-	-	-	10.2 x	13.1 x	8.46 x
FCF Yield	-	-	-	-	-	9.77%	7.61%	11.8%
Price to Book	1.45 x	1.93 x	1.59 x	1.51 x	1.81 x	2.11 x	1.85 x	1.6 x
Nbr of stocks (in thousands)	740,181	740,181	740,181	740,181	740,204	789,231	-	-
Reference price ²	9.730	14.20	12.51	13.15	18.21	24.36	24.36	24.36
Announcement Date	3/13/20	3/19/21	3/8/22	3/10/23	4/8/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	10,130	12,797	15,417	15,673	17,471	19,765	22,278	25,341
EBITDA ¹	1,071	1,150	1,093	1,373	1,880	2,257	2,562	3,224
EBIT ¹	881.5	953.1	877.3	1,146	1,622	2,006	2,299	2,875
Operating Margin	8.7%	7.45%	5.69%	7.32%	9.28%	10.15%	10.32%	11.34%
Earnings before Tax (EBT) ¹	906.8	974.4	900.1	1,165	1,632	2,022	2,315	2,894
Net income ¹	651.3	732	633.9	904.1	1,278	1,571	1,806	2,249
Net margin	6.43%	5.72%	4.11%	5.77%	7.32%	7.95%	8.11%	8.87%
EPS ²	0.8800	0.9900	0.8600	1.220	1.450	2.033	2.350	2.902
Free Cash Flow ¹	-	-	-	-	-	1,878	1,463	2,273
FCF margin	-	-	-	-	-	9.5%	6.57%	8.97%
FCF Conversion (EBITDA)	-	-	-	-	-	83.21%	57.11%	70.51%
FCF Conversion (Net income)	-	-	-	-	-	119.57%	80.99%	101.08%
Dividend per Share ²	0.3500	0.3500	0.3510	0.4000	0.6000	0.6867	0.7600	1.075
Announcement Date	3/13/20	3/19/21	3/8/22	3/10/23	4/8/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q4
Net sales	-	-	-	-	-	-
EBITDA	-	-	-	-	-	-
EBIT	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income ¹	402.9	-	-	237.8	431.5	218.4
Net margin	-	-	-	-	-	-
EPS	0.5400	0.1700	0.2600	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	8/14/20	3/8/22	4/25/22	8/29/22	8/29/22	3/10/23

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	1,108	1,519	454	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-	-	1,878	1,463	2,273
ROE (net income / shareholders' equity)	13.6%	14.1%	11%	14.8%	17.6%	17.9%	18.1%	19.2%
ROA (Net income/ Total Assets)	8.47%	8.27%	5.92%	6.85%	-	8.85%	9.31%	10.4%
Assets ¹	7,686	8,854	10,703	13,205	-	17,754	19,409	21,633
Book Value Per Share ²	6.720	7.350	7.880	8.730	10.10	11.50	13.20	15.20
Cash Flow per Share ²	1.150	1.250	0.8800	1.040	1.970	2.170	2.790	3.080
Capex ¹	209	198	507	674	669	570	576	514
Capex / Sales	2.06%	1.54%	3.29%	4.3%	3.83%	2.88%	2.58%	2.03%
Announcement Date	3/13/20	3/19/21	3/8/22	3/10/23	4/8/24	-	-	-

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

Ratings for Anhui Heli Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

24.36 CNY

Average target price

31.07 CNY

Spread / Average Target

+27.53%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Heavy Trucks

	1st Jan change	Capi.
ANHUI HELI CO.,LTD.	+33.77%	2.65B
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KAMAZ PUBLICLY TRADED COMPANY	-.--%	682M
SHANGHAI NEW POWER AUTOMOTIVE TECHNOLOGY COMPANY LIMITED	-31.98%	638M

Heavy Trucks