Financials Limin Group Co.,Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-21 pm EDT			5-day change	1st Jan Change
7.24 ^CNY	-1.50%		+0.56%	-9.16%

Apr. 29	Limin Group Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 26	Limin Group Co.,Ltd. Proposes Final Dividend for the Year 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,966	4,735	4,880	3,446	2,924	2,656	-	-
Enterprise Value (EV) ¹	3,966	4,735	4,880	3,446	2,924	2,656	2,656	2,656
P/E ratio	11.7 x	12.1 x	15.1 x	17.3 x	46.9 x	26.8 x	18.1 x	11.5 x
Yield	-	-	-	2.67%	-	-	-	-
Capitalization / Revenue	1.4 x	1.08 x	-	0.69 x	0.69 x	0.53 x	0.51 x	0.5 x
EV / Revenue	1.4 x	1.08 x	-	0.69 x	0.69 x	0.53 x	0.51 x	0.5 x
EV / EBITDA	-	6.73 x	-	-	7.06 x	4.68 x	4.11 x	3.53 x
EV / FCF	-	-	-	-37,650,580 x	-	-	-	-
FCF Yield	-	-	-	-0%	-	-	-	-
Price to Book	1.91 x	2 x	-	1.33 x	1.13 x	0.95 x	0.91 x	0.87 x
Nbr of stocks (in thousands)	372,525	372,525	372,534	368,206	366,857	366,857	-	-
Reference price ²	10.65	12.71	13.10	9.360	7.970	7.240	7.240	7.240
Announcement Date	2/27/20	4/19/21	4/19/22	4/19/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,833	4,388	-	5,016	4,224	4,994	5,196	5,342
EBITDA ¹	-	703.3	-	-	414.2	567	646	753
EBIT ¹	354.3	493.8	-	258.6	64.29	103	152	238
Operating Margin	12.51%	11.25%	-	5.16%	1.52%	2.06%	2.93%	4.46%
Earnings before Tax (EBT) ¹	365.6	490.5	-	255.3	64.33	103	152	238
Net income ¹	321.9	386	306.9	219	62.05	99	146	230
Net margin	11.36%	8.8%	-	4.37%	1.47%	1.98%	2.81%	4.31%
EPS ²	0.9077	1.050	0.8700	0.5400	0.1700	0.2700	0.4000	0.6300
Free Cash Flow	-	-	-	-91.54	-	-	-	-
FCF margin	-	-	-	-1.82%	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	0.2500	-	-	-	-
Announcement Date	2/27/20	4/19/21	4/19/22	4/19/23	4/25/24	-	-	-

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	-	-	-	-91.5	-	-	-	-
ROE (net income / shareholders' equity)	17.4%	17.5%	-	8.01%	2.23%	3.5%	5%	7.5%
ROA (Net income/ Total Assets)	-	7.75%	-	-	-	1.4%	2%	3.2%
Assets ¹	-	4,978	-	-	-	7,071	7,300	7,188
Book Value Per Share ²	5.560	6.360	-	7.060	7.080	7.630	7.960	8.340
Cash Flow per Share	-	2.420	-	-	-	-	-	-
Capex ¹	373	348	-	734	235	360	368	377
Capex / Sales	13.16%	7.93%	-	14.63%	5.57%	7.21%	7.08%	7.06%
Announcement Date	2/27/20	4/19/21	4/19/22	4/19/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

7.24 CNY

Average target price

8 CNY

Spread / Average Target

+10.50%

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