Financials Logan Group Company Limited

Equities

Delayed Hong Kong S.E. Other stock markets 03:20:34 2024-05-27 am EDT			5-day change	1st Jan Change
0.71 ^HKD	+2.90%		-7.79%	+16.39%

Apr. 17	Logan, KWG Slash Prices of Luxury Apartments By Half	MT
Apr. 10	Ares Management Plans to Buy Stake in Project Loan for Hong Kong Property Project	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	64,324	58,714	27,331	6,095	3,061	3,531	-	-
Enterprise Value (EV) ¹	94,277	97,813	84,095	91,668	3,061	56,401	51,870	46,479
P/E ratio	5.86 x	4.6 x	2.67 x	-0.71 x	-0.34 x	-1.9 x	-2.94 x	-4.14 x
Yield	6.5%	7.96%	8.9%	-	-	-	-	-
Capitalization / Revenue	1.12 x	0.83 x	0.35 x	0.15 x	0.06 x	0.15 x	0.16 x	0.16 x
EV / Revenue	1.64 x	1.38 x	1.07 x	2.2 x	0.06 x	2.44 x	2.35 x	2.08 x
EV / EBITDA	6,127,441 x	5,478,955 x	5,374,070 x	-11,803,909 x	-	-	-	-
EV / FCF	5,761,645 x	244,219,161 x	32,211,001 x	-7,221,902 x	-	-	-	-
FCF Yield	0%	0%	0%	-0%	-	-	-	-
Price to Book	1.88 x	1.39 x	0.56 x	0.17 x	-	0.14 x	0.15 x	0.16 x
Nbr of stocks (in thousands)	5,502,859	5,492,974	5,627,917	5,520,877	5,520,877	5,520,877	-	-
Reference price ²	11.69	10.69	4.856	1.104	0.5544	0.6396	0.6396	0.6396
Announcement Date	3/27/20	3/26/21	3/31/22	3/30/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	57,480	71,080	78,293	41,623	47,167	23,119	22,100	22,300
EBITDA	15,386	17,852	15,648	-7,766	-	-	-	-
EBIT ¹	15,325	17,792	13,290	-7,806	-6,739	-700.7	-225.4	-61.18
Operating Margin	26.66%	25.03%	16.98%	-18.75%	-14.29%	-3.03%	-1.02%	-0.27%
Earnings before Tax (EBT)	17,452	19,498	14,836	-7,688	-	-	-	-
Net income	11,269	13,017	10,021	-8,524	-	-	-	-
Net margin	19.61%	18.31%	12.8%	-20.48%	-	-	-	-
EPS ²	1.994	2.324	1.821	-1.557	-1.616	-0.3361	-0.2173	-0.1547
Free Cash Flow	16,363	400.5	2,611	-12,693	-	-	-	-
FCF margin	28.47%	0.56%	3.33%	-30.5%	-	-	-	-
FCF Conversion (EBITDA)	106.35%	2.24%	16.68%	-	-	-	-	-
FCF Conversion (Net income)	145.2%	3.08%	26.05%	-	-	-	-	-
Dividend per Share ²	0.7598	0.8505	0.4324	-	-	-	-	-
Announcement Date	3/27/20	3/26/21	3/31/22	3/30/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	29,953	39,099	56,764	85,573	-	52,870	48,339	42,948
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.947 x	2.19 x	3.628 x	-11.02 x	-	-	-	-
Free Cash Flow	16,363	401	2,611	-12,693	-	-	-	-
ROE (net income / shareholders' equity)	35.5%	34%	22.2%	-20.1%	-	-7.2%	-4.95%	-3.68%
ROA (Net income/ Total Assets)	5.99%	5.79%	3.79%	-3.02%	-	-	-	-
Assets	188,052	224,762	264,414	282,114	-	-	-	-
Book Value Per Share ²	6.230	7.690	8.640	6.650	-	4.500	4.280	4.130
Cash Flow per Share ²	1.050	0.2200	0.8800	-2.150	-	1.890	1.120	1.290
Capex ¹	1,103	830	2,138	830	-	659	785	979
Capex / Sales	1.92%	1.17%	2.73%	1.99%	-	2.85%	3.55%	4.39%
Announcement Date	3/27/20	3/26/21	3/31/22	3/30/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B+

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

0.6396 CNY

Average target price

0.554 CNY

Spread / Average Target

-13.39%

	1st Jan change	Capi.
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