Financials China Hongqiao Group Limited

Equities

1378

KYG211501005

Aluminum

Market Closed - Hong Kong S.E. 04:08:27 2024-07-12 am EDT 5-day change 1st Jan Change
11.18 HKD -3.12% Intraday chart for China Hongqiao Group Limited -4.93% +74.96%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 36,000 53,055 61,167 61,677 55,033 98,369 - -
Enterprise Value (EV) 1 72,829 82,517 70,443 82,568 93,787 114,881 104,420 91,727
P/E ratio 6.02 x 4.89 x 3.92 x 6.96 x 4.86 x 6.18 x 5.7 x 5.36 x
Yield 7.41% 9.1% 12.7% 6.85% 9.98% 8.5% 8.32% 9.19%
Capitalization / Revenue 0.43 x 0.62 x 0.53 x 0.47 x 0.41 x 0.69 x 0.69 x 0.67 x
EV / Revenue 0.87 x 0.96 x 0.62 x 0.63 x 0.7 x 0.81 x 0.73 x 0.63 x
EV / EBITDA 3.72 x 3.47 x 2.29 x 3.74 x 5.47 x 3.8 x 3.4 x 2.89 x
EV / FCF - 6.6 x 3.11 x - 5.73 x 6.08 x 5.36 x 4.34 x
FCF Yield - 15.2% 32.2% - 17.4% 16.4% 18.6% 23%
Price to Book 0.57 x 0.75 x 0.75 x 0.73 x 0.6 x 0.95 x 0.85 x 0.75 x
Nbr of stocks (in thousands) 8,570,852 8,878,352 9,121,352 9,475,538 9,475,538 9,475,538 - -
Reference price 2 4.200 5.976 6.706 6.509 5.808 10.38 10.38 10.38
Announcement Date 3/20/20 3/5/21 3/18/22 3/24/23 3/22/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 84,179 86,145 114,491 131,699 133,624 141,893 143,508 145,740
EBITDA 1 19,592 23,769 30,743 22,080 17,132 30,272 30,671 31,789
EBIT 1 12,370 14,903 24,219 15,308 10,182 24,005 23,881 25,663
Operating Margin 14.69% 17.3% 21.15% 11.62% 7.62% 16.92% 16.64% 17.61%
Earnings before Tax (EBT) 1 8,771 12,704 22,554 12,607 15,890 21,743 23,065 23,486
Net income 1 6,095 10,496 16,073 8,702 11,461 15,625 16,291 17,925
Net margin 7.24% 12.18% 14.04% 6.61% 8.58% 11.01% 11.35% 12.3%
EPS 2 0.6979 1.221 1.712 0.9358 1.195 1.679 1.823 1.937
Free Cash Flow 1 - 12,511 22,650 - 16,356 18,884 19,474 21,125
FCF margin - 14.52% 19.78% - 12.24% 13.31% 13.57% 14.5%
FCF Conversion (EBITDA) - 52.64% 73.68% - 95.47% 62.38% 63.49% 66.45%
FCF Conversion (Net income) - 119.2% 140.92% - 142.71% 120.85% 119.54% 117.85%
Dividend per Share 2 0.3110 0.5438 0.8538 0.4462 0.5799 0.8829 0.8636 0.9538
Announcement Date 3/20/20 3/5/21 3/18/22 3/24/23 3/22/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 42,749 39,939 46,206 52,481 62,010 68,739 62,961 65,734 67,890 72,845 73,392 69,191 71,376
EBITDA - - - - - - - - - - - - -
EBIT 1 - - - 14,326 11,295 13,002 2,305 4,350 7,402 13,670 11,247 8,487 7,766
Operating Margin - - - 27.3% 18.22% 18.92% 3.66% 6.62% 10.9% 18.77% 15.32% 12.27% 10.88%
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - - - 7.846 - - - - - - -
Net margin - - - - - 0.01% - - - - - - -
EPS - - - - - 0.8500 - - - - - - -
Dividend per Share - - - - 0.3659 - - - - - - - -
Announcement Date 3/20/20 8/21/20 3/5/21 8/20/21 3/18/22 8/26/22 3/24/23 8/18/23 3/22/24 - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 36,830 29,462 9,276 20,891 38,754 16,513 6,051 -
Net Cash position 1 - - - - - - - 6,642
Leverage (Debt/EBITDA) 1.88 x 1.24 x 0.3017 x 0.9462 x 2.262 x 0.5455 x 0.1973 x -
Free Cash Flow 1 - 12,511 22,650 - 16,356 18,884 19,474 21,125
ROE (net income / shareholders' equity) 9.9% 15.6% 21.1% 10.5% 13% 15.9% 15.1% 14.6%
ROA (Net income/ Total Assets) 3.42% 5.81% 8.69% 4.65% 5.94% 6.74% 7.11% 7.02%
Assets 1 178,166 180,569 184,985 187,081 193,031 231,916 229,085 255,491
Book Value Per Share 2 7.370 8.020 8.910 8.920 9.740 11.00 12.30 13.90
Cash Flow per Share 2 2.370 2.040 3.450 0.8200 2.560 2.840 2.660 3.110
Capex 1 3,228 5,268 5,999 8,848 6,046 8,895 8,473 8,409
Capex / Sales 3.84% 6.11% 5.24% 6.72% 4.52% 6.27% 5.9% 5.77%
Announcement Date 3/20/20 3/5/21 3/18/22 3/24/23 3/22/24 - - -
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
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
17
Last Close Price
10.38 CNY
Average target price
12.24 CNY
Spread / Average Target
+17.95%
Consensus

Quarterly revenue - Rate of surprise

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