Financials Hangzhou Sunrise Technology Co.,Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-20 pm EDT			5-day change	1st Jan Change
15.17 ^CNY	-1.04%		-5.54%	+11.05%

May. 10	Hangzhou Sunrise Technology Co., Ltd. Approves Cash Dividend for 2023	CI
Apr. 24	Hangzhou Sunrise 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	5,002	4,494	6,224	7,339	6,957	7,726	-	-
Enterprise Value (EV) ¹	5,002	4,494	6,224	7,339	6,957	7,726	7,726	7,726
P/E ratio	21.1 x	15.4 x	19.6 x	15.5 x	11.4 x	12.4 x	9.48 x	8.87 x
Yield	1.58%	1.68%	1.22%	1.37%	3.66%	1.65%	2.31%	2.31%
Capitalization / Revenue	5.61 x	4.1 x	5.14 x	4.87 x	3.93 x	3.52 x	2.68 x	2.36 x
EV / Revenue	5.61 x	4.1 x	5.14 x	4.87 x	3.93 x	3.52 x	2.68 x	2.36 x
EV / EBITDA	-	12.1 x	15.7 x	12.5 x	9.23 x	10.6 x	8.14 x	7.38 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	2.38 x	1.88 x	2.36 x	2.4 x	1.92 x	1.94 x	1.62 x	1.46 x
Nbr of stocks (in thousands)	514,075	504,387	504,387	504,387	509,315	509,315	-	-
Reference price ²	9.731	8.910	12.34	14.55	13.66	15.17	15.17	15.17
Announcement Date	2/28/20	4/6/21	4/22/22	4/21/23	4/18/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	892.4	1,097	1,210	1,506	1,771	2,192	2,884	3,272
EBITDA ¹	-	371.1	395.7	585.4	753.8	726.2	949.4	1,046
EBIT ¹	276.7	348.8	373.7	546.4	693.6	709.8	935.4	994.6
Operating Margin	31.01%	31.8%	30.88%	36.27%	39.16%	32.38%	32.43%	30.4%
Earnings before Tax (EBT) ¹	277.7	348.8	373.5	550	692.2	711.5	938	996
Net income ¹	242.9	293.3	317.8	472.1	607.3	622.1	814.6	870.9
Net margin	27.22%	26.74%	26.26%	31.34%	34.28%	28.38%	28.25%	26.62%
EPS ²	0.4615	0.5800	0.6300	0.9400	1.200	1.220	1.600	1.710
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1538	0.1500	0.1500	0.2000	0.5000	0.2500	0.3500	0.3500
Announcement Date	2/28/20	4/6/21	4/22/22	4/21/23	4/18/24	-	-	-

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)	10.9%	12.9%	12.7%	16.7%	18.2%	15.8%	17.3%	16.9%
ROA (Net income/ Total Assets)	-	10.5%	10.2%	11.7%	-	12.9%	13.3%	13.5%
Assets ¹	-	2,802	3,125	4,038	-	4,823	6,122	6,451
Book Value Per Share ²	4.090	4.750	5.230	6.060	7.100	7.830	9.370	10.40
Cash Flow per Share ²	0.3800	0.3400	0.3700	1.050	1.100	1.100	1.660	1.630
Capex ¹	81.9	103	253	107	53.7	109	103	653
Capex / Sales	9.18%	9.37%	20.94%	7.08%	3.03%	4.97%	3.58%	19.97%
Announcement Date	2/28/20	4/6/21	4/22/22	4/21/23	4/18/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

15.17 CNY

Average target price

18.7 CNY

Spread / Average Target

+23.25%

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