Financials China Aoyuan Group Limited

Equities

3883

KYG2119Z1090

Real Estate Development & Operations

Market Closed - Hong Kong S.E. 04:08:05 2024-05-31 am EDT 5-day change 1st Jan Change
0.172 HKD -0.58% Intraday chart for China Aoyuan Group Limited -13.57% -14.00%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 11,686 30,535 17,153 3,407 2,834 539.1
Enterprise Value (EV) 1 34,440 68,941 80,531 110,707 109,545 107,730
P/E ratio 4.85 x 7.27 x 2.9 x -0.09 x -0.36 x -0.06 x
Yield 8.25% 4.85% 10.4% - - -
Capitalization / Revenue 0.38 x 0.6 x 0.25 x 0.07 x 0.15 x 0.02 x
EV / Revenue 1.11 x 1.36 x 1.19 x 2.21 x 5.85 x 3.91 x
EV / EBITDA 5.23 x 6.49 x 7.64 x -6.16 x -45.5 x -25 x
EV / FCF 16.9 x -11.2 x -2.75 x -71.2 x 22.4 x 36.9 x
FCF Yield 5.91% -8.93% -36.4% -1.4% 4.46% 2.71%
Price to Book 0.98 x 2.03 x 0.92 x -0.22 x -0.12 x -0.02 x
Nbr of stocks (in thousands) 2,677,883 2,690,383 2,702,883 2,965,571 2,965,571 2,965,571
Reference price 2 4.364 11.35 6.346 1.149 0.9555 0.1818
Announcement Date 4/17/19 4/20/20 4/22/21 7/27/23 7/27/23 4/30/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 31,006 50,531 67,794 50,022 18,711 27,533
EBITDA 1 6,585 10,620 10,535 -17,965 -2,406 -4,305
EBIT 1 6,466 10,448 10,220 -18,392 -2,747 -4,542
Operating Margin 20.85% 20.68% 15.08% -36.77% -14.68% -16.5%
Earnings before Tax (EBT) 1 6,954 10,589 13,609 -36,237 -8,072 -7,815
Net income 1 2,409 4,201 5,908 -33,075 -7,843 -9,534
Net margin 7.77% 8.31% 8.71% -66.12% -41.92% -34.63%
EPS 2 0.8990 1.562 2.187 -12.14 -2.645 -3.215
Free Cash Flow 1 2,035 -6,153 -29,297 -1,555 4,889 2,920
FCF margin 6.56% -12.18% -43.22% -3.11% 26.13% 10.61%
FCF Conversion (EBITDA) 30.9% - - - - -
FCF Conversion (Net income) 84.49% - - - - -
Dividend per Share 2 0.3600 0.5500 0.6600 - - -
Announcement Date 4/17/19 4/20/20 4/22/21 7/27/23 7/27/23 4/30/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 22,753 38,406 63,378 107,300 106,711 107,191
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 3.455 x 3.616 x 6.016 x -5.973 x -44.36 x -24.9 x
Free Cash Flow 1 2,035 -6,153 -29,297 -1,555 4,889 2,920
ROE (net income / shareholders' equity) 10.2% 15.4% 15.5% -152% 67.5% 42.2%
ROA (Net income/ Total Assets) 2.57% 2.73% 2.08% -3.92% -0.69% -1.31%
Assets 1 93,785 153,982 284,660 844,645 1,132,721 728,420
Book Value Per Share 2 4.430 5.590 6.860 -5.230 -7.660 -10.90
Cash Flow per Share 2 13.40 21.60 19.40 3.120 1.720 0.6300
Capex 1 453 1,286 303 1,393 123 10.7
Capex / Sales 1.46% 2.54% 0.45% 2.79% 0.66% 0.04%
Announcement Date 4/17/19 4/20/20 4/22/21 7/27/23 7/27/23 4/30/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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