Financials Baowu Magnesium Technology Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-19 pm EDT			5-day change	1st Jan Change
19.26 ^CNY	+3.88%		+7.60%	-2.03%

Apr. 25	Anhui Magnesium Aluminum Building Formwork Technology Co., Ltd. announced that it expects to receive CNY 200 million in funding from Baowu Magnesium Technology Co., Ltd.	CI
Apr. 25	Jingzhou Yunhai Precision Manufacturing Co., Ltd. announced that it expects to receive CNY 50 million in funding from Baowu Magnesium Technology Co., Ltd.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,979	8,546	14,829	13,640	13,928	13,644	-	-
Enterprise Value (EV) ¹	5,979	8,546	14,829	13,640	13,928	13,644	13,644	13,644
P/E ratio	6.57 x	35.1 x	29.5 x	22.3 x	42.8 x	29.4 x	14 x	11.6 x
Yield	1.62%	0.76%	0.44%	-	0.66%	1.48%	1.87%	2.01%
Capitalization / Revenue	1.07 x	1.44 x	1.82 x	1.5 x	1.82 x	1.45 x	0.96 x	0.9 x
EV / Revenue	1.07 x	1.44 x	1.82 x	1.5 x	1.82 x	1.45 x	0.96 x	0.9 x
EV / EBITDA	-	18.4 x	18.8 x	12.2 x	20.6 x	11.9 x	6.34 x	4.91 x
EV / FCF	-	-	-	-	-9.2 x	-3.7 x	-11.4 x	-15 x
FCF Yield	-	-	-	-	-10.9%	-27%	-8.76%	-6.67%
Price to Book	2.24 x	3.03 x	4.59 x	3.47 x	2.64 x	2.42 x	2.1 x	1.76 x
Nbr of stocks (in thousands)	646,423	646,423	646,423	646,423	708,423	708,423	-	-
Reference price ²	9.250	13.22	22.94	21.10	19.66	19.26	19.26	19.26
Announcement Date	2/26/20	4/14/21	2/13/22	4/7/23	3/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	5,572	5,946	8,131	9,105	7,652	9,428	14,234	15,174
EBITDA ¹	-	464	790.1	1,120	676.4	1,148	2,153	2,777
EBIT ¹	1,039	281.2	591.2	785	367.8	630.6	1,352	1,768
Operating Margin	18.65%	4.73%	7.27%	8.62%	4.81%	6.69%	9.5%	11.65%
Earnings before Tax (EBT) ¹	1,037	282.2	589.1	781.8	376.1	630.2	1,351	1,768
Net income ¹	910.4	243.7	503.4	611.3	306.4	463.3	1,004	1,227
Net margin	16.34%	4.1%	6.19%	6.71%	4%	4.91%	7.05%	8.09%
EPS ²	1.408	0.3771	0.7788	0.9457	0.4594	0.6557	1.376	1.660
Free Cash Flow ¹	-	-	-	-	-1,514	-3,684	-1,195	-910
FCF margin	-	-	-	-	-19.78%	-39.07%	-8.4%	-6%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1500	0.1000	0.1000	-	0.1300	0.2850	0.3600	0.3867
Announcement Date	2/26/20	4/14/21	2/13/22	4/7/23	3/29/24	-	-	-

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 ¹	-	-	-	-	-1,514	-3,684	-1,195	-910
ROE (net income / shareholders' equity)	40.7%	8.93%	16.6%	16.7%	6.95%	8.49%	16%	16.9%
ROA (Net income/ Total Assets)	18.9%	4.47%	-	6.74%	-	4.15%	7.21%	8.2%
Assets ¹	4,824	5,455	-	9,063	-	11,165	13,913	14,967
Book Value Per Share ²	4.130	4.360	5.000	6.090	7.440	7.970	9.180	10.90
Cash Flow per Share ²	0.4800	0.8200	0.0900	2.080	0.4900	1.190	1.620	2.540
Capex ¹	232	404	834	1,311	1,864	1,418	1,231	890
Capex / Sales	4.16%	6.8%	10.26%	14.4%	24.36%	15.04%	8.65%	5.86%
Announcement Date	2/26/20	4/14/21	2/13/22	4/7/23	3/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

19.26 CNY

Average target price

22.44 CNY

Spread / Average Target

+16.51%

	1st Jan change	Capi.
BAOWU MAGNESIUM TECHNOLOGY CO., LTD.	-2.03%	1.89B
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CHINA NONFERROUS MINING CORPORATION LIMITED	+59.06%	4.35B
YUNNAN COPPER CO.,LTD	+43.71%	4.33B
PANGANG GROUP VANADIUM & TITANIUM RESOURCES CO., LTD.	-3.66%	4.06B
WESTERN SUPERCONDUCTING TECHNOLOGIES CO., LTD.	-18.07%	3.92B
ZHE JIANG HAI LIANG CO., LTD	-15.78%	2.59B
SICHUAN HONGDA CO.,LTD	+36.65%	1.97B