Financials Chengdu Hongqi Chain Co.,Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-06-06 pm EDT			5-day change	1st Jan Change
5.02 ^CNY	+2.87%		-1.57%	+0.80%

May. 07	Chengdu Hongqi Chain Co.,Ltd. Proposes Final Cash Dividend on A Shares for the Year 2023, Payable on 14 May 2024	CI
Apr. 11	Chengdu Hongqi Chain Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	10,268	8,990	7,235	7,657	6,773	6,827	-	-
Enterprise Value (EV) ¹	10,268	8,990	7,235	7,657	6,773	6,827	6,827	6,827
P/E ratio	19.9 x	17.9 x	15.2 x	15.6 x	12.1 x	11.3 x	10.6 x	9.92 x
Yield	1.15%	1.27%	1.65%	7.85%	2.49%	2.29%	2.39%	2.59%
Capitalization / Revenue	1.31 x	0.99 x	0.77 x	0.76 x	0.67 x	0.65 x	0.61 x	0.6 x
EV / Revenue	1.31 x	0.99 x	0.77 x	0.76 x	0.67 x	0.65 x	0.61 x	0.6 x
EV / EBITDA	14.1 x	12.3 x	10 x	10.7 x	8.49 x	6.45 x	7.61 x	7.26 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.36 x	2.61 x	1.96 x	1.84 x	1.65 x	1.5 x	1.34 x	1.24 x
Nbr of stocks (in thousands)	1,360,000	1,360,000	1,360,000	1,360,000	1,360,000	1,360,000	-	-
Reference price ²	7.550	6.610	5.320	5.630	4.980	5.020	5.020	5.020
Announcement Date	2/26/20	3/31/21	4/1/22	4/7/23	4/1/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	7,823	9,053	9,351	10,020	10,133	10,559	11,198	11,448
EBITDA ¹	728.4	732.6	721	712.3	797.7	1,058	897.5	939.9
EBIT ¹	567.5	576.8	554.4	555.3	648.8	704.1	745.8	799.3
Operating Margin	7.25%	6.37%	5.93%	5.54%	6.4%	6.67%	6.66%	6.98%
Earnings before Tax (EBT) ¹	567	575.1	551.1	555.6	646.6	703.1	745.1	798.2
Net income ¹	516.2	504.9	481.3	485.7	561.1	606	646.6	687.9
Net margin	6.6%	5.58%	5.15%	4.85%	5.54%	5.74%	5.77%	6.01%
EPS ²	0.3800	0.3700	0.3500	0.3600	0.4100	0.4450	0.4750	0.5060
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0870	0.0840	0.0880	0.4420	0.1240	0.1150	0.1200	0.1300
Announcement Date	2/26/20	3/31/21	4/1/22	4/7/23	4/1/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	18.2%	15.6%	13.5%	12.4%	13.8%	13.3%	12.7%	12.5%
ROA (Net income/ Total Assets)	10.4%	8.99%	6.43%	5.71%	-	7%	7.17%	7.2%
Assets ¹	4,951	5,614	7,489	8,504	-	8,657	9,023	9,554
Book Value Per Share ²	2.250	2.530	2.710	3.050	3.020	3.350	3.760	4.050
Cash Flow per Share ²	0.2000	0.3600	0.7500	1.080	0.9100	0.7000	0.5300	0.6500
Capex ¹	173	136	120	52.5	51.1	53.7	41.9	68.7
Capex / Sales	2.21%	1.5%	1.28%	0.52%	0.5%	0.51%	0.37%	0.6%
Announcement Date	2/26/20	3/31/21	4/1/22	4/7/23	4/1/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5.02 CNY

Average target price

6.813 CNY

Spread / Average Target

+35.72%

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