CHINA MERCHANTS SHEKOU INDUSTRIAL ZONE HOLDINGS CO., LTD. Financials China Merchants Shekou Industrial Zone Holdings Co., Ltd.
Equities
001979
CNE100002FC6
Real Estate Development & Operations
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 8.65 CNY | -3.46% |
|
+2.13% | -9.23% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 153,636 | 102,853 | 103,240 | 97,745 | 86,350 | 78,376 | - | - |
| Enterprise Value (EV) 1 | 220,216 | 169,411 | 194,789 | 212,867 | 208,802 | 216,615 | 216,780 | 217,168 |
| P/E ratio | 9.98 x | 9.1 x | 11.5 x | 30.8 x | 14.7 x | 9.95 x | 9.2 x | 8.56 x |
| Yield | 4.18% | 4.82% | 4.05% | 1.82% | 3.36% | 4.47% | 4.54% | 4.69% |
| Capitalization / Revenue | 1.57 x | 0.79 x | 0.64 x | 0.53 x | 0.49 x | 0.43 x | 0.41 x | 0.4 x |
| EV / Revenue | 2.25 x | 1.31 x | 1.21 x | 1.16 x | 1.19 x | 1.19 x | 1.13 x | 1.12 x |
| EV / EBITDA | 7.98 x | 6.6 x | 7.9 x | 11.9 x | 12.2 x | 8.61 x | 8.77 x | 8.37 x |
| EV / FCF | 38.5 x | 7.24 x | 12.2 x | 13 x | 8.4 x | 22.9 x | 13.4 x | 9.6 x |
| FCF Yield | 2.6% | 13.8% | 8.2% | 7.7% | 11.9% | 4.37% | 7.46% | 10.4% |
| Price to Book | 1.66 x | 1.3 x | 0.95 x | 1.17 x | 0.72 x | 0.67 x | 0.65 x | 0.62 x |
| Nbr of stocks (in thousands) | 7,732,064 | 7,739,098 | 7,739,098 | 7,739,098 | 9,060,836 | 9,060,836 | - | - |
| Reference price 2 | 19.87 | 13.29 | 13.34 | 12.63 | 9.530 | 8.650 | 8.650 | 8.650 |
| Announcement Date | 4/13/20 | 2/23/21 | 2/23/22 | 3/20/23 | 3/18/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 97,672 | 129,621 | 160,643 | 183,003 | 175,008 | 182,461 | 191,717 | 194,668 |
| EBITDA 1 | 27,601 | 25,666 | 24,672 | 17,882 | 17,141 | 25,153 | 24,705 | 25,941 |
| EBIT 1 | 26,320 | 24,080 | 22,753 | 15,360 | 14,182 | 16,905 | 21,120 | 21,533 |
| Operating Margin | 26.95% | 18.58% | 14.16% | 8.39% | 8.1% | 9.26% | 11.02% | 11.06% |
| Earnings before Tax (EBT) 1 | 26,124 | 24,109 | 22,843 | 15,817 | 13,989 | 18,331 | 20,729 | 20,490 |
| Net income 1 | 16,033 | 12,253 | 10,372 | 4,264 | 6,319 | 7,673 | 8,545 | 9,064 |
| Net margin | 16.42% | 9.45% | 6.46% | 2.33% | 3.61% | 4.21% | 4.46% | 4.66% |
| EPS 2 | 1.990 | 1.460 | 1.160 | 0.4100 | 0.6500 | 0.8695 | 0.9406 | 1.010 |
| Free Cash Flow 1 | 5,715 | 23,402 | 15,974 | 16,390 | 24,847 | 9,472 | 16,172 | 22,616 |
| FCF margin | 5.85% | 18.05% | 9.94% | 8.96% | 14.2% | 5.19% | 8.44% | 11.62% |
| FCF Conversion (EBITDA) | 20.7% | 91.18% | 64.75% | 91.66% | 144.95% | 37.65% | 65.46% | 87.18% |
| FCF Conversion (Net income) | 35.64% | 191% | 154.01% | 384.37% | 393.19% | 123.45% | 189.25% | 249.5% |
| Dividend per Share 2 | 0.8300 | 0.6400 | 0.5400 | 0.2300 | 0.3200 | 0.3869 | 0.3926 | 0.4053 |
| Announcement Date | 4/13/20 | 2/23/21 | 2/23/22 | 3/20/23 | 3/18/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 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 | 78,886 | - | 18,801 | 38,762 | 31,922 | 93,518 | 15,009 | 36,434 | 24,386 | 99,179 | 23,747 | 42,339 | 55,010 | 69,971 | 17,999 | 51,261 |
| EBITDA 1 | - | - | - | - | - | - | - | - | - | - | 2,577 | 5,701 | 2,851 | 11,506 | 1,994 | 5,981 |
| EBIT | 10,362 | - | 1,532 | 3,913 | 3,175 | 6,740 | 560.8 | 4,334 | 2,665 | 6,622 | 1,616 | - | - | - | - | - |
| Operating Margin | 13.13% | - | 8.15% | 10.09% | 9.95% | 7.21% | 3.74% | 11.9% | 10.93% | 6.68% | 6.8% | - | - | - | - | - |
| Earnings before Tax (EBT) 1 | 10,395 | - | 1,561 | 3,941 | 3,371 | 6,944 | 595.6 | 4,378 | 2,775 | 6,240 | 1,630 | 5,622 | 2,811 | 8,433 | 1,935 | 5,806 |
| Net income 1 | 4,021 | 6,122 | 443.8 | 1,443 | 1,070 | 1,307 | 272 | 1,881 | 1,616 | 2,550 | 332.4 | 2,300 | 1,014 | 3,587 | 673.4 | 2,566 |
| Net margin | 5.1% | - | 2.36% | 3.72% | 3.35% | 1.4% | 1.81% | 5.16% | 6.63% | 2.57% | 1.4% | 5.43% | 1.84% | 5.13% | 3.74% | 5.01% |
| EPS 2 | 0.4700 | - | 0.0100 | 0.1500 | 0.1100 | 0.1400 | 0.004000 | 0.2200 | 0.1700 | 0.2600 | 0.0100 | 0.2972 | 0.1310 | 0.4634 | 0.0870 | 0.3315 |
| Dividend per Share 2 | 0.5400 | - | - | - | - | 0.2300 | - | - | - | 0.3200 | - | - | - | 0.5426 | - | - |
| Announcement Date | 2/23/22 | 2/23/22 | 4/27/22 | 8/29/22 | 10/30/22 | 3/20/23 | 4/21/23 | 7/13/23 | 10/30/23 | 3/18/24 | 4/29/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 66,580 | 66,558 | 91,549 | 115,122 | 122,452 | 138,239 | 138,404 | 138,792 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.412 x | 2.593 x | 3.711 x | 6.438 x | 7.144 x | 5.496 x | 5.602 x | 5.35 x |
| Free Cash Flow 1 | 5,715 | 23,402 | 15,974 | 16,390 | 24,847 | 9,472 | 16,172 | 22,616 |
| ROE (net income / shareholders' equity) | 21.4% | 14.4% | 10.8% | 3.76% | 6.04% | 5.64% | 6.63% | 6.62% |
| ROA (Net income/ Total Assets) | 3.08% | 1.81% | 1.3% | 0.49% | 0.7% | 0.9% | 0.95% | 0.92% |
| Assets 1 | 520,389 | 677,328 | 797,743 | 871,287 | 897,517 | 852,515 | 896,172 | 987,836 |
| Book Value Per Share 2 | 12.00 | 10.20 | 14.00 | 10.80 | 13.20 | 13.00 | 13.40 | 13.80 |
| Cash Flow per Share 2 | 1.740 | 3.490 | 2.910 | 2.870 | 3.470 | 2.710 | 2.200 | 3.970 |
| Capex 1 | 8,097 | 4,220 | 10,003 | 5,784 | 6,584 | 4,024 | 7,477 | 7,753 |
| Capex / Sales | 8.29% | 3.26% | 6.23% | 3.16% | 3.76% | 2.21% | 3.9% | 3.98% |
| Announcement Date | 4/13/20 | 2/23/21 | 2/23/22 | 3/20/23 | 3/18/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
BUY
Number of Analysts
18
Last Close Price
8.65
CNY
Average target price
12
CNY
Spread / Average Target
+38.71%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.23% | 11.25B | |
| +36.86% | 29.21B | |
| +7.68% | 28.04B | |
| -11.60% | 27.86B | |
| +17.36% | 25.39B | |
| +50.72% | 24.16B | |
| +7.70% | 20.93B | |
| +3.41% | 19.25B | |
| +30.19% | 16.61B | |
| -13.27% | 15.42B |
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- Financials China Merchants Shekou Industrial Zone Holdings Co., Ltd.