Financials Beijing Zhidemai Technology Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-16 pm EDT			5-day change	1st Jan Change
20.45 ^CNY	-2.67%		-6.62%	-6.45%

Apr. 26	Beijing Zhidemai Technology Co., Ltd. Proposes final Cash Dividend for 2023	CI
Apr. 25	Beijing Zhidemai Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,681	8,068	6,367	4,495	4,347	4,067	-	-
Enterprise Value (EV) ¹	7,681	8,068	6,367	4,495	4,347	4,067	4,067	4,067
P/E ratio	55.2 x	46.6 x	35.3 x	52.8 x	57.5 x	33.3 x	25.1 x	20.2 x
Yield	-	0.5%	0.98%	0.59%	0.64%	0.93%	1.61%	-
Capitalization / Revenue	11.6 x	8.87 x	4.54 x	3.66 x	2.99 x	2.35 x	2.05 x	1.78 x
EV / Revenue	11.6 x	8.87 x	4.54 x	3.66 x	2.99 x	2.35 x	2.05 x	1.78 x
EV / EBITDA	53.7 x	40.8 x	26.3 x	32.6 x	32.4 x	21.2 x	16.4 x	14.4 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	10.2 x	4.88 x	3.57 x	2.48 x	2.34 x	2.08 x	1.94 x	1.71 x
Nbr of stocks (in thousands)	179,350	199,757	199,675	199,480	198,855	198,855	-	-
Reference price ²	42.83	40.39	31.88	22.53	21.86	20.45	20.45	20.45
Announcement Date	2/28/20	2/26/21	4/15/22	4/10/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	662	909.6	1,403	1,228	1,452	1,730	1,986	2,287
EBITDA ¹	142.9	197.8	241.8	137.7	134	192.1	248.4	282.9
EBIT ¹	129.8	177.7	211.1	100.7	83.3	157.9	217.9	251.2
Operating Margin	19.6%	19.54%	15.04%	8.2%	5.74%	9.12%	10.97%	10.98%
Earnings before Tax (EBT) ¹	129.8	176.8	200.6	99.28	80.63	156.8	216.9	251.1
Net income ¹	119	156.8	179.5	84.89	74.78	122.4	162.1	201
Net margin	17.98%	17.24%	12.79%	6.91%	5.15%	7.07%	8.16%	8.79%
EPS ²	0.7761	0.8667	0.9022	0.4267	0.3800	0.6150	0.8150	1.010
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	0.2000	0.3111	0.1333	0.1400	0.1900	0.3300	-
Announcement Date	2/28/20	2/26/21	4/15/22	4/10/23	4/25/24	-	-	-

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)	23.5%	18.6%	10.6%	4.72%	4.12%	6.48%	7.99%	8.81%
ROA (Net income/ Total Assets)	-	10.4%	8.5%	3.77%	-	4.5%	5.9%	-
Assets ¹	-	1,504	2,113	2,250	-	2,720	2,748	-
Book Value Per Share ²	4.190	8.270	8.920	9.070	9.330	9.850	10.60	11.90
Cash Flow per Share ²	0.7300	0.8300	0.4700	0.3400	0.5600	0.4900	0.8900	0.5600
Capex ¹	128	64.3	142	256	50.3	126	121	163
Capex / Sales	19.38%	7.07%	10.15%	20.88%	3.47%	7.28%	6.1%	7.15%
Announcement Date	2/28/20	2/26/21	4/15/22	4/10/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

20.45 CNY

Average target price

24.56 CNY

Spread / Average Target

+20.07%

	1st Jan change	Capi.
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