Financials Huitongda Network Co., Ltd.

Equities

9878

CNE100005600

Department Stores

End-of-day quote Hong Kong S.E. Other stock markets 06:00:00 2024-07-08 pm EDT			5-day change	1st Jan Change
22.9 ^HKD	0.00%		-5.95%	-24.67%

May. 20	Huitongda Network's Stock to Join MSCI Global Small Cap Index	MT
Apr. 29	Huitongda Network’s Profit Up by 42% in 2023	MT

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	20,073	15,450	11,920	-	-
Enterprise Value (EV) ¹	20,073	15,450	11,920	11,920	11,920
P/E ratio	62.6 x	34.5 x	19.8 x	16.2 x	14.2 x
Yield	-	-	-	-	-
Capitalization / Revenue	0.25 x	0.19 x	0.14 x	0.13 x	0.13 x
EV / Revenue	0.25 x	0.19 x	0.14 x	0.13 x	0.13 x
EV / EBITDA	27.4 x	17.8 x	11.9 x	10.1 x	8.1 x
EV / FCF	91.9 x	37.2 x	13.4 x	9.7 x	9.03 x
FCF Yield	1.09%	2.69%	7.48%	10.3%	11.1%
Price to Book	1.71 x	2 x	1.41 x	1.29 x	1.21 x
Nbr of stocks (in thousands)	562,570	559,143	559,119	-	-
Reference price ²	35.68	27.63	21.32	21.32	21.32
Announcement Date	3/28/23	3/27/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	65,763	80,355	82,433	86,282	90,737	89,884
EBITDA ¹	-	-	732.3	867.8	1,005	1,180	1,471
EBIT ¹	-	638.7	663.1	794	992.6	1,212	1,402
Operating Margin	-	0.97%	0.83%	0.96%	1.15%	1.34%	1.56%
Earnings before Tax (EBT) ¹	-	-76.12	603.1	797	1,033	1,224	1,493
Net income ¹	-405.3	-349.9	287.2	448.3	654.9	789.2	954.9
Net margin	-	-0.53%	0.36%	0.54%	0.76%	0.87%	1.06%
EPS ²	-0.8300	-	0.5700	0.8000	1.075	1.315	1.500
Free Cash Flow ¹	-	792.5	218.4	415.9	892	1,229	1,319
FCF margin	-	1.21%	0.27%	0.5%	1.03%	1.35%	1.47%
FCF Conversion (EBITDA)	-	-	29.83%	47.92%	88.77%	104.18%	89.67%
FCF Conversion (Net income)	-	-	76.04%	92.77%	136.2%	155.77%	138.17%
Dividend per Share ²	-	-	-	-	-	-	-
Announcement Date	1/31/22	3/30/22	3/28/23	3/27/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2
Net sales ¹	39,895	40,460	43,377	39,056	42,607	39,085
EBITDA	-	-	-	-	-	-
EBIT ¹	336	327.2	-	361.1	339	513
Operating Margin	0.84%	0.81%	-	0.92%	0.8%	1.31%
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income	95.04	192.2	245.1	203.1	-	-
Net margin	0.24%	0.48%	0.57%	0.52%	-	-
EPS	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	8/23/22	3/28/23	8/28/23	3/27/24	-	-

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	793	218	416	892	1,229	1,319
ROE (net income / shareholders' equity)	-	-10.3%	11.8%	5.65%	7.65%	8.2%	9.12%
ROA (Net income/ Total Assets)	-	-1.4%	1.06%	1.53%	2.62%	3.02%	4.01%
Assets ¹	-	24,992	27,187	29,249	24,997	26,132	23,812
Book Value Per Share ²	-	-	20.80	13.80	15.10	16.50	17.70
Cash Flow per Share ²	-	-	0.5100	0.8400	2.290	1.920	-
Capex ¹	-	22.5	54.9	33	44.7	60	4
Capex / Sales	-	0.03%	0.07%	0.04%	0.05%	0.07%	0%
Announcement Date	1/31/22	3/30/22	3/28/23	3/27/24	-	-	-

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

Ratings for Huitongda Network Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

21.32 CNY

Average target price

39.02 CNY

Spread / Average Target

+83.03%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Internet & Mail Order Department Stores

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HUITONGDA NETWORK CO., LTD.	-24.67%	1.64B
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ZOZO, INC.	+38.30%	8.01B
ETSY, INC.	-29.66%	6.67B
WAYFAIR INC.	-14.39%	6.44B
FSN E-COMMERCE VENTURES LIMITED	+1.64%	6.01B
MONOTARO CO., LTD.	+19.78%	5.62B

Internet & Mail Order Department Stores