Financials Jiangxi Jovo Energy Co., Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
27.46 ^CNY	-0.22%		+4.49%	-1.68%

Apr. 22	Jiangxi Jovo Energy Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 09	Jiangxi Jovo Energy Co., Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	15,579	12,915	17,280	17,083	-	-
Enterprise Value (EV) ¹	15,579	12,915	17,280	17,083	17,083	17,083
P/E ratio	23.1 x	11.7 x	14.3 x	11.4 x	9.74 x	8.59 x
Yield	-	1.45%	1.43%	2.05%	2.35%	2.68%
Capitalization / Revenue	0.84 x	0.54 x	0.65 x	0.6 x	0.57 x	0.53 x
EV / Revenue	0.84 x	0.54 x	0.65 x	0.6 x	0.57 x	0.53 x
EV / EBITDA	15.7 x	8.99 x	9.51 x	7.84 x	6.88 x	6.09 x
EV / FCF	-	8.15 x	17.7 x	35.4 x	19.3 x	14.9 x
FCF Yield	-	12.3%	5.65%	2.82%	5.17%	6.73%
Price to Book	2.72 x	1.92 x	2.3 x	1.93 x	1.64 x	1.44 x
Nbr of stocks (in thousands)	620,158	625,414	618,704	622,107	-	-
Reference price ²	25.12	20.65	27.93	27.46	27.46	27.46
Announcement Date	4/12/22	3/7/23	4/9/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	18,488	23,954	26,566	28,438	29,819	32,069
EBITDA ¹	-	990.7	1,436	1,817	2,179	2,482	2,804
EBIT ¹	-	762.6	1,245	1,488	1,763	2,036	2,299
Operating Margin	-	4.12%	5.2%	5.6%	6.2%	6.83%	7.17%
Earnings before Tax (EBT) ¹	-	766.1	1,270	1,487	1,771	2,043	2,303
Net income ¹	767.6	619.7	1,090	1,306	1,542	1,782	2,012
Net margin	-	3.35%	4.55%	4.92%	5.42%	5.98%	6.28%
EPS ²	1.521	1.086	1.760	1.950	2.409	2.820	3.198
Free Cash Flow ¹	-	-	1,584	977.1	482	884	1,150
FCF margin	-	-	6.61%	3.68%	1.69%	2.96%	3.59%
FCF Conversion (EBITDA)	-	-	110.35%	53.77%	22.12%	35.61%	41.01%
FCF Conversion (Net income)	-	-	145.36%	74.82%	31.26%	49.6%	57.14%
Dividend per Share ²	-	-	0.3000	0.4000	0.5633	0.6467	0.7367
Announcement Date	4/29/21	4/12/22	3/7/23	4/9/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	1,584	977	482	884	1,150
ROE (net income / shareholders' equity)	-	14.2%	17.7%	17.9%	17.2%	17%	16.9%
ROA (Net income/ Total Assets)	-	8%	9.64%	-	9.75%	9.95%	10.1%
Assets ¹	-	7,744	11,309	-	15,820	17,915	19,876
Book Value Per Share ²	-	9.250	10.80	12.10	14.20	16.70	19.10
Cash Flow per Share ²	-	0.1600	2.710	3.430	2.530	3.990	3.590
Capex ¹	-	728	111	1,181	1,236	1,273	1,122
Capex / Sales	-	3.94%	0.47%	4.45%	4.35%	4.27%	3.5%
Announcement Date	4/29/21	4/12/22	3/7/23	4/9/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

27.46 CNY

Average target price

36.38 CNY

Spread / Average Target

+32.47%

	1st Jan change	Capi.
JIANGXI JOVO ENERGY CO., LTD	-1.68%	2.36B
THE HONG KONG AND CHINA GAS CO LTD	+5.18%	15B
ENN ENERGY HOLDINGS LIMITED	+32.61%	11.03B
KUNLUN ENERGY COMPANY LIMITED	+14.77%	8.9B
CHINA RESOURCES GAS GROUP LIMITED	+8.79%	8.06B
ENN NATURAL GAS CO.,LTD.	+11.00%	7.96B
GRUPO ENERGÍA BOGOTÁ S.A. E.S.P.	+32.63%	5.98B
NEW FORTRESS ENERGY INC.	-28.62%	5.52B
SOUTHWEST GAS HOLDINGS, INC.	+20.57%	5.47B
UGI CORPORATION	+1.26%	5.22B