Financials Chengdu Haoneng Technology Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-06-06 pm EDT			5-day change	1st Jan Change
8.01 ^CNY	+1.39%		-11.33%	+0.04%

May. 07	China stocks edge down; HK shares fall after 10-day winning streak	RE
Apr. 26	Chengdu Haoneng Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,476	6,230	4,190	4,657	4,659	-	-
Enterprise Value (EV) ¹	4,476	6,230	4,190	4,657	4,659	4,659	4,659
P/E ratio	24.7 x	31.2 x	19.8 x	25.4 x	14.4 x	11.6 x	8.65 x
Yield	-	0.97%	1.69%	1.69%	2.78%	3.37%	-
Capitalization / Revenue	3.82 x	4.31 x	2.85 x	2.39 x	1.88 x	1.57 x	1.28 x
EV / Revenue	3.82 x	4.31 x	2.85 x	2.39 x	1.88 x	1.57 x	1.28 x
EV / EBITDA	-	18.1 x	9.2 x	10.6 x	7.26 x	5.98 x	5.43 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	2.57 x	3.38 x	2.07 x	2.16 x	1.87 x	1.68 x	1.45 x
Nbr of stocks (in thousands)	582,756	582,756	582,756	581,664	581,673	-	-
Reference price ²	7.681	10.69	7.189	8.007	8.010	8.010	8.010
Announcement Date	4/26/21	3/28/22	4/20/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,171	1,444	1,472	1,946	2,476	2,962	3,636
EBITDA ¹	-	343.6	455.2	438.7	641.5	779.5	858
EBIT ¹	222	250.7	244.6	217	376.5	470.5	614
Operating Margin	18.96%	17.36%	16.62%	11.15%	15.2%	15.88%	16.89%
Earnings before Tax (EBT) ¹	220.5	250.5	243.1	217.2	376.5	470.5	614
Net income ¹	176.8	199.6	211.4	182	323	404	540
Net margin	15.1%	13.82%	14.36%	9.35%	13.04%	13.64%	14.85%
EPS ²	0.3112	0.3425	0.3634	0.3148	0.5574	0.6926	0.9257
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	0.1040	0.1216	0.1351	0.2230	0.2703	-
Announcement Date	4/26/21	3/28/22	4/20/23	4/26/24	-	-	-

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)	10.7%	11.1%	11%	8.39%	13.3%	14.9%	16.9%
ROA (Net income/ Total Assets)	-	5.5%	4.87%	-	5.45%	6.1%	7.2%
Assets ¹	-	3,626	4,340	-	5,927	6,623	7,500
Book Value Per Share ²	2.990	3.170	3.470	3.710	4.280	4.760	5.510
Cash Flow per Share ²	0.4500	0.8200	0.4800	0.5500	0.9900	1.050	-
Capex ¹	-	584	517	622	456	406	250
Capex / Sales	-	40.41%	35.14%	31.96%	18.39%	13.69%	6.88%
Announcement Date	4/26/21	3/28/22	4/20/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

8.01 CNY

Average target price

10.37 CNY

Spread / Average Target

+29.48%

	1st Jan change	Capi.
CHENGDU HAONENG TECHNOLOGY CO., LTD.	+0.04%	643M
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JTEKT CORPORATION	-7.00%	2.4B
NHK SPRING CO., LTD.	+36.68%	2.26B
IMOTION AUTOMOTIVE TECHNOLOGY (SUZHOU) CO., LTD.	+106.82%	2.02B
HANON SYSTEMS	-32.65%	1.96B
NEXTEER AUTOMOTIVE GROUP LIMITED	-9.94%	1.43B
AOTECAR NEW ENERGY TECHNOLOGY CO., LTD.	-25.23%	1.09B
ZHEJIANG WANLIYANG CO., LTD.	-30.47%	938M