Financials Luenmei Quantum Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-07-02 pm EDT			5-day change	1st Jan Change
5.31 ^CNY	-0.93%		+1.14%	-6.35%

Apr. 29	Luenmei Quantum Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 29	Luenmei Quantum Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	30,112	25,970	20,431	14,301	12,830	11,996	-	-
Enterprise Value (EV) ¹	30,112	25,970	20,431	14,301	12,830	11,996	11,996	11,996
P/E ratio	18.9 x	15.4 x	19.5 x	15.1 x	14.9 x	12.8 x	11.7 x	10.8 x
Yield	-	-	-	-	3.53%	4.14%	4.52%	4.71%
Capitalization / Revenue	8.87 x	7.22 x	5.89 x	4.14 x	3.76 x	3.35 x	3.19 x	3.05 x
EV / Revenue	8.87 x	7.22 x	5.89 x	4.14 x	3.76 x	3.35 x	3.19 x	3.05 x
EV / EBITDA	12.5 x	10.8 x	-	9.29 x	8.91 x	7.43 x	6.79 x	6.13 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.98 x	2.96 x	2.36 x	1.37 x	1.18 x	1.06 x	1.01 x	0.96 x
Nbr of stocks (in thousands)	2,288,119	2,288,119	2,267,579	2,262,840	2,262,840	2,259,197	-	-
Reference price ²	13.16	11.35	9.010	6.320	5.670	5.310	5.310	5.310
Announcement Date	4/30/20	4/29/21	4/28/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,396	3,598	3,468	3,450	3,412	3,579	3,766	3,936
EBITDA ¹	2,404	2,414	-	1,540	1,439	1,614	1,766	1,958
EBIT ¹	2,078	2,117	1,296	1,195	1,065	1,183	1,291	1,388
Operating Margin	61.18%	58.84%	37.36%	34.65%	31.21%	33.04%	34.28%	35.26%
Earnings before Tax (EBT) ¹	2,095	2,125	1,303	1,208	1,088	1,195	1,305	1,402
Net income ¹	1,592	1,685	1,046	944	859	948.1	1,041	1,124
Net margin	46.86%	46.84%	30.17%	27.36%	25.18%	26.49%	27.65%	28.56%
EPS ²	0.6956	0.7366	0.4613	0.4172	0.3796	0.4150	0.4550	0.4900
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	0.2000	0.2200	0.2400	0.2500
Announcement Date	4/30/20	4/29/21	4/28/22	4/28/23	4/29/24	-	-	-

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	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	23.7%	20.6%	12.1%	9.51%	7.97%	8.27%	8.56%	8.66%
ROA (Net income/ Total Assets)	13.8%	-	-	-	5%	5.8%	6.2%	6.3%
Assets ¹	11,552	-	-	-	17,191	16,346	16,796	17,846
Book Value Per Share ²	3.310	3.840	3.810	4.620	4.820	5.030	5.260	5.510
Cash Flow per Share ²	0.6300	0.4100	0.7400	0.6300	0.6600	0.6700	0.8000	0.8600
Capex ¹	344	356	-	310	256	629	724	507
Capex / Sales	10.13%	9.89%	-	9%	7.49%	17.57%	19.22%	12.88%
Announcement Date	4/30/20	4/29/21	4/28/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5.31 CNY

Average target price

6.88 CNY

Spread / Average Target

+29.57%

	1st Jan change	Capi.
LUENMEI QUANTUM CO.,LTD	-6.35%	1.65B
EMIRATES CENTRAL COOLING SYSTEMS CORPORATION	-6.63%	4.19B
NATIONAL CENTRAL COOLING COMPANY	-14.25%	2.38B
JIANGXI BESTOO ENERGY CO.,LTD.	-18.19%	1.15B
NINGBO ENERGY GROUP CO.,LTD.	-11.00%	560M
DALIAN THERMAL POWER CO.,LTD.	+12.21%	507M
ZHEJIANG XINZHONGGANG THERMAL POWER CO., LTD.	-22.31%	393M
HENGSHENG ENERGY CO., LTD	-23.92%	341M
BEIJING JINGNENG THERMAL CO., LTD.	-14.44%	337M
QUADRA - POWER GENERATION	-0.16%	273M