Stock 300274 SUNGROW POWER SUPPLY CO., LTD.
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Financials Sungrow Power Supply Co., Ltd.

Equities

300274

CNE1000018M7

Renewable Energy Equipment & Services

End-of-day quote Shenzhen S.E.
Other stock markets
 06:00:00 2024-05-23 pm EDT 		5-day change 1st Jan Change
101.2 CNY -1.31% Intraday chart for Sungrow Power Supply Co., Ltd. -0.29% +15.48%
May. 23 Sungrow Showcases Its Cutting-Edge Solar-Plus-Storage Solutions At Solar & Storage Live Philippines 2024 CI
May. 22 Sungrow Supplies Equipment to CleanPeak to Power Australia's Arnott's Biscuit Factory with Renewable Energy CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 15,343 105,329 216,544 165,319 129,516 148,553 - -
Enterprise Value (EV) 1 12,998 100,089 212,376 160,046 119,801 132,633 127,318 116,830
P/E ratio 17.3 x 53.9 x 135 x 46.2 x 13.8 x 14.3 x 12.2 x 10.5 x
Yield 0.66% 0.19% 0.08% 0.2% 1.1% 0.98% 1.2% 1.4%
Capitalization / Revenue 1.18 x 5.46 x 8.97 x 4.11 x 1.79 x 1.69 x 1.39 x 1.17 x
EV / Revenue 1 x 5.19 x 8.8 x 3.98 x 1.66 x 1.51 x 1.19 x 0.92 x
EV / EBITDA 10.2 x 41.5 x 96.5 x 35.4 x 9.95 x 9.54 x 7.93 x 6.17 x
EV / FCF - 46.9 x -64.5 x -521 x - 19.3 x 20.4 x 17.3 x
FCF Yield - 2.13% -1.55% -0.19% - 5.17% 4.91% 5.78%
Price to Book 1.79 x 10.1 x 13.8 x 8.9 x 4.7 x 4.02 x 3.11 x 2.44 x
Nbr of stocks (in thousands) 1,457,087 1,457,237 1,485,216 1,478,706 1,478,666 1,468,642 - -
Reference price 2 10.53 72.28 145.8 111.8 87.59 101.2 101.2 101.2
Announcement Date 2/28/20 4/26/21 4/19/22 4/24/23 4/22/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 13,003 19,286 24,137 40,257 72,251 88,080 107,181 127,050
EBITDA 1 1,274 2,411 2,201 4,525 12,039 13,898 16,051 18,944
EBIT 1 1,048 2,168 1,898 4,141 11,466 13,058 14,996 17,844
Operating Margin 8.06% 11.24% 7.86% 10.29% 15.87% 14.83% 13.99% 14.04%
Earnings before Tax (EBT) 1 1,032 2,182 1,893 4,134 11,460 12,873 14,829 17,626
Net income 1 892.6 1,954 1,583 3,593 9,440 10,953 12,612 14,755
Net margin 6.86% 10.13% 6.56% 8.93% 13.07% 12.44% 11.77% 11.61%
EPS 2 0.6100 1.340 1.080 2.420 6.360 7.078 8.266 9.605
Free Cash Flow 1 - 2,136 -3,292 -306.9 - 6,859 6,254 6,756
FCF margin - 11.07% -13.64% -0.76% - 7.79% 5.84% 5.32%
FCF Conversion (EBITDA) - 88.57% - - - 49.35% 38.97% 35.66%
FCF Conversion (Net income) - 109.28% - - - 62.62% 49.59% 45.79%
Dividend per Share 2 0.0700 0.1400 0.1100 0.2200 0.9650 0.9954 1.219 1.415
Announcement Date 2/28/20 4/26/21 4/19/22 4/24/23 4/22/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 - - 8,763 - 7,714 - 9,943 18,033 12,580 16,042 17,792 25,836 - 20,612 22,193 30,627 17,368 22,147
EBITDA 1 - - - - 412.4 - 1,273 - - - - - - 3,562 3,872 4,160 - -
EBIT 1 - - 62.27 - 604.1 - 1,352 1,706 1,775 3,244 3,306 3,142 - 3,369 3,679 3,967 - -
Operating Margin - - 0.71% - 7.83% - 13.59% 9.46% 14.11% 20.22% 18.58% 12.16% - 16.34% 16.58% 12.95% - -
Earnings before Tax (EBT) 1 - - - - - - 1,350 1,685 - 3,226 3,319 3,129 - 3,386 3,697 3,967 - -
Net income 1 446.1 757 77.93 410.9 - 900.4 1,160 1,533 1,508 2,846 2,869 2,217 2,096 2,789 3,076 3,196 - -
Net margin - - 0.89% - - - 11.67% 8.5% 11.98% 17.74% 16.12% 8.58% - 13.53% 13.86% 10.43% - -
EPS 2 - - 0.0500 - 0.3300 - 0.7800 1.030 1.020 1.910 1.930 1.500 - 1.879 2.072 2.152 - -
Dividend per Share 2 - - - - - - - - - - - - - - - 1.128 - -
Announcement Date 8/27/20 8/27/21 4/19/22 4/19/22 8/26/22 8/26/22 10/26/22 4/24/23 4/24/23 8/24/23 10/27/23 4/22/24 4/22/24 - - - - -
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 2,345 5,240 4,169 5,273 9,716 15,920 21,235 31,723
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - 2,136 -3,292 -307 - 6,859 6,255 6,756
ROE (net income / shareholders' equity) 10.9% 20.4% 13.1% 21% 41% 31% 27.4% 24.7%
ROA (Net income/ Total Assets) 4.32% 7.69% 4.47% 6.88% - 11.4% 10.8% 10.3%
Assets 1 20,656 25,410 35,423 52,233 - 96,146 116,782 142,612
Book Value Per Share 2 5.900 7.180 10.50 12.60 18.70 25.10 32.50 41.40
Cash Flow per Share 2 1.700 2.120 -1.100 0.8200 4.700 8.490 7.040 8.300
Capex 1 682 953 1,653 1,517 - 2,478 2,633 2,697
Capex / Sales 5.24% 4.94% 6.85% 3.77% - 2.81% 2.46% 2.12%
Announcement Date 2/28/20 4/26/21 4/19/22 4/24/23 4/22/24 - - -
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

Ratings for Sungrow Power Supply Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
26
Last Close Price
101.2 CNY
Average target price
130.4 CNY
Spread / Average Target
+28.96%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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