LUYANG ENERGY-SAVING MATERIALS CO., LTD.

Financials Luyang Energy-Saving Materials Co., Ltd.

Equities

002088

CNE000001PK1

Specialty Chemicals

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-07 pm EDT			5-day change	1st Jan Change
14.22 ^CNY	-1.73%		+7.32%	-0.21%

Apr. 26	Luyang Energy-Saving Materials Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
2023	Luyang Energy-Saving Materials Co., Ltd. completed the acquisition of Unifrax Co., Ltd. from UNIFRAX UK HOLD CO LTD.	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,863	4,011	13,165	11,706	7,215	7,200	-	-
Enterprise Value (EV) ¹	3,863	4,011	13,165	11,706	7,215	7,200	7,200	7,200
P/E ratio	11.1 x	10.7 x	24.5 x	20.1 x	14.7 x	12.3 x	10.5 x	9.2 x
Yield	2.81%	-	2.69%	3.46%	5.61%	6.72%	6.99%	8.3%
Capitalization / Revenue	1.8 x	1.72 x	4.16 x	3.47 x	2.05 x	1.86 x	1.76 x	1.51 x
EV / Revenue	1.8 x	1.72 x	4.16 x	3.47 x	2.05 x	1.86 x	1.76 x	1.51 x
EV / EBITDA	8.06 x	7.64 x	-	15.3 x	11 x	9.72 x	8.52 x	6.46 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.75 x	1.69 x	5 x	4.06 x	2.57 x	2.42 x	2.05 x	2.12 x
Nbr of stocks (in thousands)	506,383	506,358	506,333	506,333	506,333	506,333	-	-
Reference price ²	7.629	7.921	26.00	23.12	14.25	14.22	14.22	14.22
Announcement Date	2/27/20	2/26/21	2/18/22	3/9/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,147	2,326	3,164	3,370	3,519	3,880	4,096	4,772
EBITDA ¹	479	525	-	765.3	656.8	741.1	844.9	1,114
EBIT ¹	380.1	417.9	588.6	652.2	555.3	657.5	776.2	883.7
Operating Margin	17.7%	17.97%	18.6%	19.35%	15.78%	16.95%	18.95%	18.52%
Earnings before Tax (EBT) ¹	389.7	425.6	602.4	658.9	555.4	660.1	778.9	883.8
Net income ¹	340.3	370.1	534.7	582.3	492	583.2	687.8	781.6
Net margin	15.85%	15.91%	16.9%	17.28%	13.98%	15.03%	16.79%	16.38%
EPS ²	0.6857	0.7429	1.060	1.150	0.9700	1.155	1.358	1.545
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.2143	-	0.7000	0.8000	0.8000	0.9550	0.9933	1.180
Announcement Date	2/27/20	2/26/21	2/18/22	3/9/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2024 Q1
Net sales ¹	700.6
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income	-
Net margin	-
EPS	-
Dividend per Share	-
Announcement Date	4/26/24

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)	16.5%	16%	21.8%	21.4%	16.2%	19.6%	19.9%	23%
ROA (Net income/ Total Assets)	11.5%	11.6%	14.6%	15.1%	-	13.9%	14.5%	14.3%
Assets ¹	2,946	3,194	3,653	3,868	-	4,188	4,735	5,466
Book Value Per Share ²	4.350	4.690	5.200	5.690	5.540	5.890	6.930	6.720
Cash Flow per Share ²	0.5300	0.8800	1.040	1.210	0.6500	1.450	1.270	1.550
Capex ¹	111	-	73.1	108	134	122	111	150
Capex / Sales	5.16%	-	2.31%	3.19%	3.81%	3.14%	2.72%	3.14%
Announcement Date	2/27/20	2/26/21	2/18/22	3/9/23	4/26/24	-	-	-

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 Luyang Energy-Saving Materials Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

14.22 CNY

Average target price

20.45 CNY

Spread / Average Target

+43.81%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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Cellular Fiber