Financials Kingclean Electric Co.,Ltd

Equities

603355

CNE1000022K3

Appliances, Tools & Housewares

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-19 pm EDT			5-day change	1st Jan Change
27.77 ^CNY	+1.17%		-2.80%	+24.53%

Apr. 29	Kingclean Electric Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	KingClean Electric Ordered to Pay 332 Million Yuan to Goldman Sachs	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,492	12,427	16,851	16,101	12,795	15,933	-	-
Enterprise Value (EV) ¹	9,492	12,427	16,851	16,101	12,795	15,933	15,933	15,933
P/E ratio	18.9 x	37.3 x	33.7 x	16.4 x	11.4 x	14 x	12.3 x	9.8 x
Yield	1.1%	6.62%	3.41%	3.57%	-	0.68%	0.82%	-
Capitalization / Revenue	1.66 x	1.98 x	2.12 x	1.81 x	1.46 x	1.58 x	1.42 x	1.25 x
EV / Revenue	1.66 x	1.98 x	2.12 x	1.81 x	1.46 x	1.58 x	1.42 x	1.25 x
EV / EBITDA	13.5 x	17.2 x	26.3 x	11.9 x	8.67 x	10.4 x	9.39 x	8.41 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	2.97 x	3.61 x	5.2 x	4.35 x	2.92 x	2.88 x	2.54 x	1.89 x
Nbr of stocks (in thousands)	561,400	575,502	574,719	574,206	573,761	573,761	-	-
Reference price ²	16.91	21.59	29.32	28.04	22.30	27.77	27.77	27.77
Announcement Date	4/29/20	4/28/21	4/28/22	4/25/23	4/30/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	5,703	6,281	7,946	8,910	8,792	10,086	11,192	12,738
EBITDA ¹	701.1	723.7	639.6	1,348	1,476	1,532	1,697	1,895
EBIT ¹	564.9	592.1	499.5	1,067	1,166	1,218	1,387	1,757
Operating Margin	9.91%	9.43%	6.29%	11.98%	13.26%	12.08%	12.39%	13.79%
Earnings before Tax (EBT) ¹	579.7	350.4	527.4	1,078	1,256	1,275	1,418	1,788
Net income ¹	502.3	328	502.6	982.9	1,117	1,142	1,293	1,629
Net margin	8.81%	5.22%	6.33%	11.03%	12.7%	11.32%	11.56%	12.79%
EPS ²	0.8929	0.5786	0.8700	1.710	1.950	1.988	2.253	2.835
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1857	1.429	1.000	1.000	-	0.1900	0.2267	-
Announcement Date	4/29/20	4/28/21	4/28/22	4/25/23	4/30/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1
Net sales ¹	2,205	2,351
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income ¹	-	211.2
Net margin	-	8.99%
EPS	-	-
Dividend per Share	-	-
Announcement Date	4/28/22	4/28/22

¹CNY in Million

Estimates

Balance Sheet Analysis

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)	16.8%	9.89%	15%	27.4%	25.6%	21.8%	21.6%	19.3%
ROA (Net income/ Total Assets)	10.2%	5.25%	6.27%	10.1%	-	8.2%	7.9%	-
Assets ¹	4,925	6,252	8,020	9,734	-	13,926	16,372	-
Book Value Per Share ²	5.700	5.990	5.640	6.440	7.620	9.640	10.90	14.70
Cash Flow per Share ²	2.150	1.770	0.8300	1.390	1.460	2.750	2.800	4.590
Capex ¹	108	139	353	297	368	254	178	308
Capex / Sales	1.89%	2.21%	4.44%	3.34%	4.19%	2.52%	1.59%	2.42%
Announcement Date	4/29/20	4/28/21	4/28/22	4/25/23	4/30/24	-	-	-

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

Ratings for Kingclean Electric Co.,Ltd

Trading Rating

Investor Rating

ESG Refinitiv

D+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

27.77 CNY

Average target price

34.52 CNY

Spread / Average Target

+24.31%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Household Appliances

	1st Jan change	Capi.
KINGCLEAN ELECTRIC CO.,LTD	+24.53%	2.18B
GREE ELECTRIC APPLIANCES, INC. OF ZHUHAI	+30.18%	32.3B
BEIJING ROBOROCK TECHNOLOGY CO., LTD.	+50.82%	7.8B
HISENSE HOME APPLIANCES GROUP CO., LTD.	+95.69%	7.29B
ECOVACS ROBOTICS CO., LTD.	+27.99%	4.29B
RINNAI CORPORATION	+18.08%	3.59B
ARÇELIK ANONIM SIRKETI	+48.02%	3.55B
HANGZHOU ROBAM APPLIANCES CO., LTD.	+23.65%	3.5B
COWAY CO., LTD.	+3.67%	3.28B
SHANGHAI FLYCO ELECTRICAL APPLIANCE CO., LTD.	-0.34%	3B

Household Appliances