CHINA LITERATURE LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 26.3 HKD | -1.50% |
|
0.00% | -9.47% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 29,403 | 52,023 | 40,805 | 27,168 | 27,021 | 25,029 | - | - |
| Enterprise Value (EV) 1 | 24,448 | 47,012 | 37,726 | 22,240 | 23,191 | 20,623 | 19,349 | 17,835 |
| P/E ratio | 26.6 x | -11.4 x | 21.9 x | 45.4 x | 33.4 x | 22.9 x | 20.2 x | 17.9 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 3.52 x | 6.1 x | 4.71 x | 3.56 x | 3.85 x | 3.28 x | 3.12 x | 2.96 x |
| EV / Revenue | 2.93 x | 5.51 x | 4.35 x | 2.92 x | 3.31 x | 2.71 x | 2.41 x | 2.11 x |
| EV / EBITDA | 20.6 x | 45.7 x | 28.2 x | 16.5 x | 22.8 x | 15 x | 12.8 x | 10.5 x |
| EV / FCF | 31.9 x | 64.9 x | 33.8 x | 17.7 x | 24.3 x | 16.2 x | 14.7 x | 12.4 x |
| FCF Yield | 3.14% | 1.54% | 2.96% | 5.63% | 4.11% | 6.19% | 6.82% | 8.04% |
| Price to Book | 1.49 x | 3.39 x | 2.37 x | 1.52 x | 1.41 x | 1.22 x | 1.15 x | 1.09 x |
| Nbr of stocks (in thousands) | 1,012,337 | 1,015,782 | 1,022,027 | 1,015,238 | 1,023,393 | 1,025,913 | - | - |
| Reference price 2 | 29.04 | 51.21 | 39.93 | 26.76 | 26.40 | 24.40 | 24.40 | 24.40 |
| Announcement Date | 3/17/20 | 3/23/21 | 3/22/22 | 3/16/23 | 3/18/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,348 | 8,526 | 8,668 | 7,626 | 7,012 | 7,621 | 8,013 | 8,462 |
| EBITDA 1 | 1,186 | 1,030 | 1,336 | 1,351 | 1,018 | 1,377 | 1,512 | 1,692 |
| EBIT 1 | 1,194 | -4,475 | 2,173 | 628.8 | 709.3 | 1,143 | 1,302 | 1,496 |
| Operating Margin | 14.3% | -52.48% | 25.06% | 8.25% | 10.12% | 15% | 16.25% | 17.68% |
| Earnings before Tax (EBT) 1 | 1,180 | -4,539 | 2,303 | 773.8 | 901.4 | 1,312 | 1,476 | 1,643 |
| Net income 1 | 1,096 | -4,484 | 1,847 | 608.2 | 804.9 | 1,080 | 1,201 | 1,357 |
| Net margin | 13.13% | -52.59% | 21.3% | 7.98% | 11.48% | 14.17% | 14.99% | 16.03% |
| EPS 2 | 1.090 | -4.480 | 1.820 | 0.5900 | 0.7900 | 1.066 | 1.207 | 1.362 |
| Free Cash Flow 1 | 767.1 | 724.1 | 1,117 | 1,253 | 954.1 | 1,276 | 1,320 | 1,434 |
| FCF margin | 9.19% | 8.49% | 12.89% | 16.43% | 13.61% | 16.75% | 16.48% | 16.94% |
| FCF Conversion (EBITDA) | 64.68% | 70.32% | 83.63% | 92.78% | 93.73% | 92.66% | 87.31% | 84.72% |
| FCF Conversion (Net income) | 69.99% | - | 60.49% | 206.04% | 118.54% | 118.19% | 109.9% | 105.69% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 3/17/20 | 3/23/21 | 3/22/22 | 3/16/23 | 3/18/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2021 S1 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,377 | 3,260 | 4,342 | 4,087 | 3,538 | 3,283 | 3,729 | 3,675 | 4,045 |
| EBITDA | - | - | - | 745.1 | - | - | - | - | - |
| EBIT 1 | 666.2 | - | - | 251.2 | 377.6 | 310.9 | 398.4 | 417 | 638 |
| Operating Margin | 12.39% | - | - | 6.15% | 10.67% | 9.47% | 10.68% | 11.35% | 15.77% |
| Earnings before Tax (EBT) 1 | - | - | - | 340.4 | 433.4 | 425.6 | 475.8 | 511 | 732 |
| Net income 1 | 703.3 | -3,296 | - | 228.5 | 379.7 | 376.7 | 428.2 | 434 | 622 |
| Net margin | 13.08% | -101.1% | - | 5.59% | 10.73% | 11.47% | 11.48% | 11.81% | 15.38% |
| EPS | 0.7000 | -3.300 | - | 0.2200 | 0.3700 | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/17/20 | 8/11/20 | 8/16/21 | 8/15/22 | 3/16/23 | 8/10/23 | 3/18/24 | - | - |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 4,955 | 5,011 | 3,079 | 4,928 | 3,831 | 4,406 | 5,680 | 7,194 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 767 | 724 | 1,117 | 1,253 | 954 | 1,276 | 1,320 | 1,434 |
| ROE (net income / shareholders' equity) | 5.8% | -26% | 7.62% | 7.67% | 2.18% | 6.37% | 6.47% | 6.69% |
| ROA (Net income/ Total Assets) | 4.05% | -18.9% | 5.51% | 5.86% | 3.51% | 4.74% | 4.89% | 4.9% |
| Assets 1 | 27,044 | 23,783 | 33,495 | 10,383 | 22,962 | 22,780 | 24,558 | 27,700 |
| Book Value Per Share 2 | 19.40 | 15.10 | 16.80 | 17.60 | 18.70 | 19.90 | 21.20 | 22.50 |
| Cash Flow per Share 2 | 0.7100 | 1.110 | 1.100 | 1.550 | 1.110 | 1.340 | 1.410 | 1.800 |
| Capex 1 | 15.4 | 386 | 239 | 324 | 175 | 184 | 192 | 226 |
| Capex / Sales | 0.18% | 4.53% | 2.76% | 4.24% | 2.5% | 2.41% | 2.4% | 2.67% |
| Announcement Date | 3/17/20 | 3/23/21 | 3/22/22 | 3/16/23 | 3/18/24 | - | - | - |
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
B-
Sell
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
24.4
CNY
Average target price
30.72
CNY
Spread / Average Target
+25.93%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.47% | 3.45B | |
| -9.21% | 1.09B | |
| +36.61% | 402M | |
| +5.41% | 368M | |
| +0.76% | 140M | |
| +11.13% | 118M | |
| -16.50% | 51.55M |
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