Financials Jinneng Holding Shanxi Coal Industry Co.,ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
15.89 ^CNY	+3.11%		+1.73%	+28.87%

Apr. 29	Jinneng Holding Shanxi Coal's Profit Rises 10%, Operating Income Slips 2% in Q1 2024	MT
Apr. 29	Jinneng Holding Shanxi Coal Industry's 2023 Profit Jumps 8% Despite 5% Fall in Operating Income	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,364	10,544	16,084	20,017	20,637	26,595	-	-
Enterprise Value (EV) ¹	7,364	10,544	16,084	20,017	20,637	26,595	26,595	26,595
P/E ratio	8.15 x	12.1 x	3.46 x	6.57 x	6.26 x	7.57 x	7.99 x	6.24 x
Yield	-	-	-	5.27%	6.41%	5.79%	6.99%	7.8%
Capitalization / Revenue	0.65 x	0.97 x	0.88 x	1.24 x	1.35 x	1.71 x	1.68 x	1.53 x
EV / Revenue	0.65 x	0.97 x	0.88 x	1.24 x	1.35 x	1.71 x	1.68 x	1.53 x
EV / EBITDA	-	-	1.66 x	2.76 x	2.95 x	4 x	3.92 x	3.42 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.15 x	1.45 x	1.35 x	1.38 x	1.22 x	1.39 x	1.25 x	1.09 x
Nbr of stocks (in thousands)	1,673,700	1,673,700	1,673,700	1,673,700	1,673,700	1,673,700	-	-
Reference price ²	4.400	6.300	9.610	11.96	12.33	15.89	15.89	15.89
Announcement Date	4/29/20	4/28/21	3/23/22	4/28/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	11,358	10,905	18,265	16,082	15,342	15,545	15,852	17,383
EBITDA ¹	-	-	9,693	7,255	6,996	6,646	6,790	7,786
EBIT ¹	2,232	2,113	8,302	6,047	5,816	6,348	6,083	7,648
Operating Margin	19.65%	19.38%	45.45%	37.6%	37.91%	40.84%	38.37%	43.99%
Earnings before Tax (EBT) ¹	2,222	2,102	8,275	6,000	5,868	6,364	6,087	7,686
Net income ¹	897.5	875.7	4,658	3,044	3,301	3,509	3,329	4,266
Net margin	7.9%	8.03%	25.5%	18.93%	21.52%	22.57%	21%	24.54%
EPS ²	0.5400	0.5200	2.780	1.820	1.970	2.100	1.988	2.545
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.6300	0.7900	0.9200	1.110	1.240
Announcement Date	4/29/20	4/28/21	3/23/22	4/28/23	4/26/24	-	-	-

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)	15.1%	12.8%	48.6%	23%	20.9%	18.3%	14.5%	17.3%
ROA (Net income/ Total Assets)	3.4%	2.94%	12.9%	7.21%	-	8.36%	8.46%	8.41%
Assets ¹	26,427	29,746	36,177	42,216	-	41,974	39,373	50,725
Book Value Per Share ²	3.830	4.350	7.110	8.680	10.10	11.40	12.70	14.60
Cash Flow per Share ²	1.610	2.240	4.670	3.370	3.690	13.00	11.90	4.800
Capex ¹	467	792	481	594	839	572	803	1,031
Capex / Sales	4.11%	7.26%	2.64%	3.69%	5.47%	3.68%	5.06%	5.93%
Announcement Date	4/29/20	4/28/21	3/23/22	4/28/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

15.89 CNY

Average target price

15.7 CNY

Spread / Average Target

-1.20%

	1st Jan change	Capi.
JINNENG HOLDING SHANXI COAL INDUSTRY CO.,LTD.	+28.87%	3.67B
CHINA SHENHUA ENERGY COMPANY LIMITED	+24.11%	105B
PT BAYAN RESOURCES TBK.	-4.77%	39.28B
COAL INDIA LIMITED	+24.55%	33.52B
SHAANXI COAL INDUSTRY COMPANY LIMITED	+17.42%	32.85B
YANKUANG ENERGY GROUP COMPANY LIMITED	+14.56%	20.5B
CHINA COAL ENERGY COMPANY LIMITED	+10.14%	18.92B
SHANXI LU'AN ENVIRONMENTAL ENERGY DEVELOPMENT CO., LTD.	-3.51%	8.74B
SHANXI COKING COAL ENERGY GROUP CO., LTD.	+6.28%	8.23B
HUAIBEI MINING HOLDINGS CO.,LTD.	+15.69%	7.16B