Financials Hithink RoyalFlush Information Network Co., Ltd.

Equities

300033

CNE100000JG3

Financial Technology (Fintech)

End-of-day quote Shenzhen S.E. 06:00:00 2024-06-04 pm EDT 5-day change 1st Jan Change
112.9 CNY -1.65% Intraday chart for Hithink RoyalFlush Information Network Co., Ltd. -3.45% -28.02%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 58,658 66,652 77,726 53,013 84,333 60,706 - -
Enterprise Value (EV) 1 58,658 60,526 70,451 45,475 76,164 53,293 51,387 51,165
P/E ratio 65.3 x 38.6 x 40.6 x 31.3 x 60.1 x 36.6 x 29.6 x 27 x
Yield 0.78% 0.97% 1.24% 2.54% 1.4% 1.81% 2.24% 2.37%
Capitalization / Revenue 33.7 x 23.4 x 22.1 x 14.9 x 23.7 x 15.2 x 12.9 x 11.7 x
EV / Revenue 33.7 x 21.3 x 20.1 x 12.8 x 21.4 x 13.3 x 10.9 x 9.83 x
EV / EBITDA 59.3 x 32.6 x 32.8 x 24 x 48.1 x 33.6 x 25.1 x 23.1 x
EV / FCF 53.8 x 35.7 x 37.2 x 31 x 54.8 x 27.6 x 20.7 x -
FCF Yield 1.86% 2.8% 2.68% 3.23% 1.83% 3.62% 4.83% -
Price to Book 14.7 x 12.8 x 12 x 7.32 x 11.5 x 7.4 x 6.5 x 5.73 x
Nbr of stocks (in thousands) 537,600 537,600 537,600 537,600 537,600 537,600 - -
Reference price 2 109.1 124.0 144.6 98.61 156.9 112.9 112.9 112.9
Announcement Date 2/24/20 3/1/21 2/28/22 2/27/23 2/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,742 2,844 3,510 3,559 3,564 4,001 4,707 5,204
EBITDA 1 989.8 1,856 2,146 1,894 1,584 1,585 2,046 2,210
EBIT 1 951.4 1,815 2,096 1,841 1,512 1,803 2,197 2,407
Operating Margin 54.61% 63.82% 59.71% 51.73% 42.42% 45.07% 46.66% 46.25%
Earnings before Tax (EBT) 1 953.2 1,814 2,089 1,842 1,501 1,785 2,193 2,396
Net income 1 897.7 1,724 1,911 1,691 1,402 1,667 2,046 2,245
Net margin 51.53% 60.62% 54.45% 47.52% 39.35% 41.66% 43.45% 43.14%
EPS 2 1.670 3.210 3.560 3.150 2.610 3.089 3.813 4.175
Free Cash Flow 1 1,090 1,696 1,891 1,468 1,391 1,928 2,482 -
FCF margin 62.55% 59.64% 53.89% 41.24% 39.02% 48.19% 52.73% -
FCF Conversion (EBITDA) 110.09% 91.37% 88.15% 77.49% 87.8% 121.62% 121.3% -
FCF Conversion (Net income) 121.4% 98.37% 98.97% 86.8% 99.17% 115.68% 121.34% -
Dividend per Share 2 0.8500 1.200 1.800 2.500 2.200 2.044 2.532 2.674
Announcement Date 2/24/20 3/1/21 2/28/22 2/27/23 2/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 - 886.2 1,283 609.8 860.7 901.9 1,192 618.8 945.3 980.4 1,160 877 1,029
EBITDA 1 - 378.1 - - - - - - 378.9 388 397 448.9 438.4
EBIT - 444.3 836.3 135.4 369.2 326.9 680.3 112.1 - - - - -
Operating Margin - 50.13% 65.16% 22.19% 42.9% 36.24% 57.08% 18.12% - - - - -
Earnings before Tax (EBT) 1 - - - 134.5 - 326.2 670.3 112 413.6 423.9 434.3 489.9 478
Net income 1 484.9 - - 122.2 - 311.3 631.8 103.9 386.4 396.1 405.8 457.8 446.6
Net margin - - - 20.04% - 34.52% 53.01% 16.78% 40.88% 40.4% 34.99% 52.19% 43.41%
EPS 2 0.9000 0.7400 1.510 0.2300 0.6200 0.5800 1.180 0.1900 0.7188 0.7368 0.7548 0.8515 0.8307
Dividend per Share 2 - - - - - - 2.200 - - - 1.474 - -
Announcement Date 8/25/22 10/21/22 2/27/23 4/24/23 7/28/23 10/20/23 2/26/24 4/23/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - 6,125 7,275 7,537 8,169 7,413 9,318 9,541
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 1,090 1,696 1,891 1,468 1,391 1,928 2,482 -
ROE (net income / shareholders' equity) 24.9% 38.4% 33.6% 25.6% 20.2% 20.4% 22.4% 21.9%
ROA (Net income/ Total Assets) 19.2% 27.8% 24.4% - 14.9% 15.3% 18.1% 17.6%
Assets 1 4,683 6,196 7,828 - 9,436 10,893 11,279 12,759
Book Value Per Share 2 7.420 9.720 12.00 13.50 13.60 15.30 17.40 19.70
Cash Flow per Share 2 2.270 3.840 3.960 3.250 2.960 2.800 4.170 4.470
Capex 1 129 370 236 282 201 189 228 219
Capex / Sales 7.42% 13.01% 6.73% 7.91% 5.64% 4.71% 4.85% 4.2%
Announcement Date 2/24/20 3/1/21 2/28/22 2/27/23 2/26/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
112.9 CNY
Average target price
155.7 CNY
Spread / Average Target
+37.85%
Consensus
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