Financials Electric Connector Technology Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-07-02 pm EDT			5-day change	1st Jan Change
36.66 ^CNY	-1.08%		-7.42%	-11.66%

Jul. 01	Tranche Update on Electric Connector Technology Co., Ltd.'s Equity Buyback Plan announced on November 8, 2023.	CI
May. 24	Electric Connector Technology Co., Ltd. Announces Dividend Implementation (Cash Only) for 2023, Payable on 30 May 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	10,684	9,407	21,910	15,477	17,443	15,354	-	-
Enterprise Value (EV) ¹	10,684	9,407	21,910	15,477	17,443	15,354	15,354	15,354
P/E ratio	59.5 x	35.4 x	59.7 x	34.9 x	49.4 x	24.5 x	18.6 x	14 x
Yield	-	-	-	0.51%	0.86%	1.17%	1.5%	1.6%
Capitalization / Revenue	4.94 x	3.63 x	6.75 x	5.21 x	5.57 x	3.61 x	2.75 x	2.08 x
EV / Revenue	4.94 x	3.63 x	6.75 x	5.21 x	5.57 x	3.61 x	2.75 x	2.08 x
EV / EBITDA	40 x	22.8 x	37.2 x	23.4 x	31.8 x	17.8 x	14.3 x	11.2 x
EV / FCF	-	-	-	46 x	-120 x	30.2 x	25 x	18.2 x
FCF Yield	-	-	-	2.17%	-0.83%	3.32%	4.01%	5.5%
Price to Book	3.1 x	2.67 x	5.72 x	3.79 x	3.96 x	3.15 x	2.78 x	2.38 x
Nbr of stocks (in thousands)	421,200	415,396	417,331	418,288	420,320	418,825	-	-
Reference price ²	25.37	22.65	52.50	37.00	41.50	36.66	36.66	36.66
Announcement Date	2/27/20	2/24/21	4/27/22	4/26/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,161	2,592	3,246	2,970	3,129	4,253	5,580	7,373
EBITDA ¹	267.2	412.5	589.2	662	549.1	862.4	1,073	1,366
EBIT ¹	195.1	313.4	414	531	400.2	708	933	1,243
Operating Margin	9.03%	12.09%	12.75%	17.88%	12.79%	16.65%	16.72%	16.86%
Earnings before Tax (EBT) ¹	194	306.3	417.2	531.1	395	706.9	931	1,241
Net income ¹	180.8	268.7	371.6	443.2	356.2	633.1	831.3	1,106
Net margin	8.37%	10.37%	11.45%	14.92%	11.38%	14.89%	14.9%	15.01%
EPS ²	0.4267	0.6400	0.8800	1.060	0.8400	1.496	1.968	2.620
Free Cash Flow ¹	-	-	-	336.5	-145.4	509	615	844
FCF margin	-	-	-	11.33%	-4.65%	11.97%	11.02%	11.45%
FCF Conversion (EBITDA)	-	-	-	50.83%	-	59.02%	57.32%	61.78%
FCF Conversion (Net income)	-	-	-	75.93%	-	80.39%	73.98%	76.29%
Dividend per Share ²	-	-	-	0.1900	0.3580	0.4300	0.5500	0.5850
Announcement Date	2/27/20	2/24/21	4/27/22	4/26/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	336	-145	509	615	844
ROE (net income / shareholders' equity)	5.28%	7.73%	10.2%	11.3%	8.98%	12.7%	14.8%	16.8%
ROA (Net income/ Total Assets)	-	-	-	7.55%	5.88%	8.77%	9.82%	10.5%
Assets ¹	-	-	-	5,871	6,052	7,222	8,465	10,522
Book Value Per Share ²	8.180	8.480	9.180	9.760	10.50	11.70	13.20	15.40
Cash Flow per Share ²	0.1000	1.050	1.230	0.7700	0.7700	2.190	1.410	3.310
Capex ¹	305	303	-	301	469	246	249	218
Capex / Sales	14.13%	11.68%	-	10.13%	14.98%	5.79%	4.47%	2.95%
Announcement Date	2/27/20	2/24/21	4/27/22	4/26/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

36.66 CNY

Average target price

48.5 CNY

Spread / Average Target

+32.30%

	1st Jan change	Capi.
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