Financials Zhejiang Sunoren Solar Technology Co.,Ltd.

Equities

603105

CNE1000036D8

Electric Utilities

End-of-day quote Shanghai S.E. 06:00:00 2024-07-02 pm EDT 5-day change 1st Jan Change
8.6 CNY -3.26% Intraday chart for Zhejiang Sunoren Solar Technology Co.,Ltd. -4.12% -25.73%

Valuation

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Capitalization 1 8,310 7,365 5,790 4,300 - -
Enterprise Value (EV) 1 8,310 7,365 5,790 4,300 4,300 4,300
P/E ratio 75.5 x 38.8 x 26.3 x 16.2 x 13.2 x 10.7 x
Yield - 0.81% 1.3% 2.03% 2.5% 3.14%
Capitalization / Revenue - 11.3 x 8.44 x 5.35 x 4.52 x 3.76 x
EV / Revenue - 11.3 x 8.44 x 5.35 x 4.52 x 3.76 x
EV / EBITDA - 19.6 x 11.8 x 7.57 x 6.61 x -
EV / FCF - 54.3 x -34.4 x -79.6 x 52.4 x -55.1 x
FCF Yield - 1.84% -2.91% -1.26% 1.91% -1.81%
Price to Book - 4.17 x 2.8 x 1.93 x 1.74 x 1.55 x
Nbr of stocks (in thousands) 500,000 500,000 500,000 500,004 - -
Reference price 2 16.62 14.73 11.58 8.600 8.600 8.600
Announcement Date 4/25/22 3/15/23 3/29/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Net sales 1 - 649.9 686.2 803.2 950.8 1,145
EBITDA 1 - 375.2 492 568 651 -
EBIT 1 - 214 244.2 295.2 363 445.7
Operating Margin - 32.92% 35.59% 36.76% 38.18% 38.92%
Earnings before Tax (EBT) 1 - 215.1 244.4 295.2 362.8 445.7
Net income 1 110 191.5 220.2 266 326.5 401.3
Net margin - 29.47% 32.08% 33.12% 34.34% 35.05%
EPS 2 0.2200 0.3800 0.4400 0.5325 0.6525 0.8033
Free Cash Flow 1 - 135.6 -168.5 -54 82 -78
FCF margin - 20.86% -24.56% -6.72% 8.62% -6.81%
FCF Conversion (EBITDA) - 36.14% - - 12.6% -
FCF Conversion (Net income) - 70.79% - - 25.11% -
Dividend per Share 2 - 0.1200 0.1500 0.1750 0.2150 0.2700
Announcement Date 4/25/22 3/15/23 3/29/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Net Debt - - - - - -
Net Cash position - - - - - -
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 - 136 -169 -54 82 -78
ROE (net income / shareholders' equity) - 11.4% 11.8% 12% 13.3% 14.5%
ROA (Net income/ Total Assets) - - 5.6% 5.5% 6.4% -
Assets 1 - - 3,931 4,836 5,102 -
Book Value Per Share 2 - 3.530 4.140 4.460 4.950 5.550
Cash Flow per Share 2 - 1.150 0.7200 1.190 1.240 1.410
Capex 1 - 437 528 445 444 510
Capex / Sales - 67.29% 76.88% 55.36% 46.7% 44.5%
Announcement Date 4/25/22 3/15/23 3/29/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
8.6 CNY
Average target price
11.66 CNY
Spread / Average Target
+35.55%
Consensus

Annual profits - Rate of surprise

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