Stock 603369 JIANGSU KING'S LUCK BREWERY JOINT-STOCK CO.,LTD.
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Financials Jiangsu King's Luck Brewery Joint-Stock Co.,Ltd.

Equities

603369

CNE100001TH8

Distillers & Wineries

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
59.05 CNY +1.72% Intraday chart for Jiangsu King's Luck Brewery Joint-Stock Co.,Ltd. +6.11% +21.13%
2023 Jiangsu King's Luck Brewery Joint-Stock Co.,Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2023 CI
2023 Jiangsu King's Luck Brewery Joint-Stock Co.,Ltd. Reports Earnings Results for the Half Year Ended June 30, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 18,178 41,047 71,983 68,245 63,462 73,624 73,624 -
Enterprise Value (EV) 1 16,311 39,440 68,943 64,288 58,681 67,012 64,845 62,163
P/E ratio 15.8 x 28.2 x 45.9 x 33.6 x 25.4 x 23.5 x 19.1 x 15.7 x
Yield 2.28% 1.25% 0.78% 1.08% 1.43% 1.49% 1.76% 2.2%
Capitalization / Revenue 4.87 x 8.43 x 14.1 x 10.7 x 8.05 x 7.32 x 5.96 x 4.92 x
EV / Revenue 4.37 x 8.1 x 13.5 x 10 x 7.44 x 6.67 x 5.25 x 4.15 x
EV / EBITDA 10.2 x 19.2 x 31.3 x 23.2 x 16.8 x 15.7 x 12.3 x 9.72 x
EV / FCF - 34.1 x 95.3 x 26.3 x 35.9 x 19.7 x 16.9 x 12.7 x
FCF Yield - 2.93% 1.05% 3.81% 2.78% 5.07% 5.92% 7.89%
Price to Book 2.98 x 5.7 x 8.71 x 7.34 x 5.77 x 5.48 x 4.55 x 3.77 x
Nbr of stocks (in thousands) 1,254,500 1,254,500 1,254,500 1,254,500 1,246,800 1,246,800 1,246,800 -
Reference price 2 14.49 32.72 57.38 54.40 50.90 59.05 59.05 59.05
Announcement Date 4/12/19 4/28/20 4/18/21 4/15/22 4/28/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 3,736 4,870 5,119 6,406 7,885 10,052 12,361 14,965
EBITDA 1 1,604 2,055 2,204 2,766 3,484 4,258 5,257 6,395
EBIT 1 1,516 1,951 2,092 2,712 3,341 4,196 5,183 6,354
Operating Margin 40.58% 40.07% 40.87% 42.34% 42.38% 41.74% 41.93% 42.46%
Earnings before Tax (EBT) 1 1,525 1,942 2,082 2,699 3,328 4,185 5,158 6,286
Net income 1 1,151 1,458 1,567 2,029 2,503 3,143 3,869 4,710
Net margin 30.8% 29.94% 30.61% 31.68% 31.74% 31.27% 31.3% 31.47%
EPS 2 0.9173 1.162 1.249 1.618 2.007 2.509 3.087 3.762
Free Cash Flow 1 - 1,157 723.5 2,448 1,633 3,399 3,837 4,905
FCF margin - 23.76% 14.13% 38.22% 20.71% 33.81% 31.04% 32.77%
FCF Conversion (EBITDA) - 56.31% 32.83% 88.49% 46.87% 79.83% 72.99% 76.69%
FCF Conversion (Net income) - 79.37% 46.17% 120.64% 65.24% 108.14% 99.17% 104.14%
Dividend per Share 2 0.3300 0.4100 0.4500 0.5900 0.7300 0.8770 1.040 1.297
Announcement Date 4/12/19 4/28/20 4/18/21 4/15/22 4/28/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q2 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 Q3
Net sales 1 1,455 3,851 - 1,073 2,988 1,659 - 1,870 1,368 3,802 2,167 2,394 1,685 4,030 4,716 2,601 2,874
EBITDA - - - - - - - - - - - - - - - - -
EBIT - - - 441.1 1,332 819.2 - 622.3 567.6 1,669 1,073 778.6 - 1,429 - - -
Operating Margin - - - 41.12% 44.59% 49.37% - 33.28% 41.48% 43.89% 49.5% 32.52% - 35.46% - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - 1,429 - - -
Net income - - - - - - 1,618 - - - - - - 1,077 - - -
Net margin - - - - - - - - - - - - - 26.72% - - -
EPS 2 - - 0.2901 0.2700 0.8040 0.4937 1.298 0.3700 0.3400 1.007 0.6300 0.4700 0.4000 0.8580 1.230 0.7500 0.5500
Dividend per Share - - - - - - - - - - - - - - - - -
Announcement Date 8/24/21 8/24/21 10/29/21 4/15/22 4/29/22 8/30/22 8/30/22 10/28/22 4/28/23 4/28/23 8/28/23 10/30/23 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - - - - - -
Net Cash position 1 1,867 1,607 3,040 3,957 4,781 6,612 8,779 11,460
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - 1,157 724 2,448 1,633 3,399 3,837 4,905
ROE (net income / shareholders' equity) 20.4% 21.9% 20.3% 22.6% 24.7% 23.9% 24.3% 24.6%
ROA (Net income/ Total Assets) 14.6% 15.6% 14.3% 15.4% 15.3% 15.4% 16.4% 17.2%
Assets 1 7,905 9,325 10,957 13,142 16,309 20,393 23,598 27,387
Book Value Per Share 2 4.860 5.740 6.590 7.410 8.820 10.80 13.00 15.70
Cash Flow per Share 2 0.8900 1.040 0.8900 2.410 2.220 2.240 3.560 3.700
Capex 1 205 150 393 576 1,147 992 1,643 1,313
Capex / Sales 5.48% 3.08% 7.67% 8.99% 14.55% 9.87% 13.29% 8.77%
Announcement Date 4/12/19 4/28/20 4/18/21 4/15/22 4/28/23 - - -
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

Ratings for Jiangsu King's Luck Brewery Joint-Stock Co.,Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
59.05 CNY
Average target price
66.79 CNY
Spread / Average Target
+13.10%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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