Stock 688390 GOODWE TECHNOLOGIES CO., LTD.
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Financials GoodWe Technologies Co., Ltd.

Equities

688390

CNE100004363

Renewable Energy Equipment & Services

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-07-01 pm EDT 		5-day change 1st Jan Change
56.8 CNY -3.57% Intraday chart for GoodWe Technologies Co., Ltd. -6.04% -39.10%
Jun. 14 GoodWe Technologies Co., Ltd.(SHSE:688390) dropped from SSE 180 Index CI
Jun. 14 GoodWe Technologies Co., Ltd.(SHSE:688390) dropped from Shanghai Stock Exchange 180 Value Index CI

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 20,935 40,443 39,805 22,576 13,740 - -
Enterprise Value (EV) 1 20,935 39,219 38,304 20,878 11,622 10,797 9,428
P/E ratio 65.4 x 145 x 61.8 x 26 x 18.7 x 9.37 x 11 x
Yield - 0.26% 0.5% 0.57% 0.68% 0.94% 1.16%
Capitalization / Revenue 13.2 x 15.1 x 8.45 x 3.07 x 1.49 x 0.85 x 0.86 x
EV / Revenue 13.2 x 14.6 x 8.13 x 2.84 x 1.26 x 0.67 x 0.59 x
EV / EBITDA 64.6 x 102 x 49.3 x 18.6 x 12.8 x 8.43 x 5.84 x
EV / FCF - -1,789 x 98.6 x 44.5 x -375 x 66.6 x 54.8 x
FCF Yield - -0.06% 1.01% 2.25% -0.27% 1.5% 1.82%
Price to Book 14.4 x 24.4 x 17.6 x 7.53 x 3.85 x 2.71 x 2.52 x
Nbr of stocks (in thousands) 241,472 241,472 241,472 242,043 241,902 - -
Reference price 2 86.70 167.5 164.8 93.27 56.80 56.80 56.80
Announcement Date 4/22/21 2/25/22 2/27/23 2/23/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 945.4 1,589 2,678 4,710 7,352 9,206 16,095 15,933
EBITDA 1 - 324.2 384.4 777 1,124 908.3 1,281 1,615
EBIT 1 - 302 296.5 695.1 1,013 862.6 1,389 1,398
Operating Margin - 19.01% 11.07% 14.76% 13.77% 9.37% 8.63% 8.77%
Earnings before Tax (EBT) 1 - 302.6 296.1 690.1 1,010 769.6 1,363 1,347
Net income 1 - 260.3 279.5 649.3 867.8 733.9 1,468 1,250
Net margin - 16.38% 10.44% 13.78% 11.8% 7.97% 9.12% 7.85%
EPS 2 0.5685 1.327 1.155 2.668 3.593 3.031 6.060 5.160
Free Cash Flow 1 - - -21.92 388.5 468.8 -31 162 172
FCF margin - - -0.82% 8.25% 6.38% -0.34% 1.01% 1.08%
FCF Conversion (EBITDA) - - - 50% 41.7% - 12.65% 10.65%
FCF Conversion (Net income) - - - 59.84% 54.03% - 11.04% 13.76%
Dividend per Share 2 - - 0.4373 0.8163 0.5357 0.3875 0.5333 0.6584
Announcement Date 8/30/20 4/22/21 2/25/22 2/27/23 2/23/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q3 2022 Q4 2023 Q1 2023 Q2
Net sales 1 - 1,795 1,719 2,095
EBITDA - - - -
EBIT 1 - 422.6 380.4 367.1
Operating Margin - 23.55% 22.13% 17.52%
Earnings before Tax (EBT) - - - -
Net income 220.5 - - -
Net margin - - - -
EPS 2 0.9082 1.536 1.383 1.660
Dividend per Share - - - -
Announcement Date 10/28/22 2/27/23 4/26/23 8/29/23
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 - - 1,224 1,500 1,698 2,118 2,943 4,312
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - -21.9 389 469 -31 162 172
ROE (net income / shareholders' equity) - 35% 18.1% 33.2% 33% 19.6% 23.7% 22.7%
ROA (Net income/ Total Assets) - - 8.92% 13.6% 12% 7.74% 8.78% 8.74%
Assets 1 - - 3,133 4,757 7,242 9,477 16,715 14,300
Book Value Per Share 2 - 6.030 6.860 9.350 12.40 14.70 21.00 22.60
Cash Flow per Share 2 - 1.820 1.230 3.620 4.270 4.900 4.510 6.670
Capex 1 - - 318 486 565 544 543 789
Capex / Sales - - 11.87% 10.32% 7.69% 5.91% 3.37% 4.95%
Announcement Date 8/30/20 4/22/21 2/25/22 2/27/23 2/23/24 - - -
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

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
56.8 CNY
Average target price
65.27 CNY
Spread / Average Target
+14.92%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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