Financials Ningbo Jifeng Auto Parts Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-12 pm EDT			5-day change	1st Jan Change
12.87 ^CNY	-2.94%		-3.01%	-4.45%

May. 02	Jifeng Auto Parts' German Unit to Supply Auto Seats to BMW	MT
Apr. 29	Ningbo Jifeng Auto Parts Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2022	2023	2024	2025	2026
Capitalization ¹	8,271	7,700	17,006	15,447	16,245	-	-
Enterprise Value (EV) ¹	8,271	7,700	17,006	15,447	16,245	16,245	16,245
P/E ratio	27.9 x	-29 x	-12 x	74.8 x	37.7 x	15.6 x	12.6 x
Yield	2.48%	-	-	-	2.47%	2.49%	3.72%
Capitalization / Revenue	0.46 x	0.49 x	0.95 x	0.72 x	0.66 x	0.56 x	0.49 x
EV / Revenue	0.46 x	0.49 x	0.95 x	0.72 x	0.66 x	0.56 x	0.49 x
EV / EBITDA	7.22 x	22.4 x	-20.7 x	16.3 x	9.4 x	6.31 x	5.18 x
EV / FCF	-	-	77.6 x	39.2 x	73.5 x	29.5 x	16.2 x
FCF Yield	-	-	1.29%	2.55%	1.36%	3.39%	6.16%
Price to Book	-	1.79 x	4.93 x	3.82 x	3.15 x	2.67 x	2.28 x
Nbr of stocks (in thousands)	1,023,603	1,021,250	1,112,982	1,146,778	1,262,272	-	-
Reference price ²	8.080	7.540	15.28	13.47	12.87	12.87	12.87
Announcement Date	3/30/20	3/31/21	3/30/23	3/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	18,001	15,733	-	17,967	21,571	24,551	28,814	33,114
EBITDA ¹	1,145	343.4	-	-820.6	950.5	1,729	2,574	3,137
EBIT ¹	520.4	-331.4	-	-1,444	285.9	605.5	1,397	1,688
Operating Margin	2.89%	-2.11%	-	-8.04%	1.33%	2.47%	4.85%	5.1%
Earnings before Tax (EBT) ¹	536.8	-337.8	-	-1,435	289	562.4	1,364	1,659
Net income ¹	297.7	-258.2	126.4	-1,417	203.9	422.3	1,002	1,273
Net margin	1.65%	-1.64%	-	-7.89%	0.95%	1.72%	3.48%	3.84%
EPS ²	0.2900	-0.2600	-	-1.270	0.1800	0.3415	0.8250	1.022
Free Cash Flow ¹	-	-	-	219.3	394.1	221	551	1,000
FCF margin	-	-	-	1.22%	1.83%	0.9%	1.91%	3.02%
FCF Conversion (EBITDA)	-	-	-	-	41.46%	12.78%	21.41%	31.88%
FCF Conversion (Net income)	-	-	-	-	193.31%	52.33%	55.01%	78.58%
Dividend per Share ²	0.2000	-	-	-	-	0.3181	0.3200	0.4784
Announcement Date	3/30/20	3/31/21	3/30/22	3/30/23	3/29/24	-	-	-

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 ¹	-	-	-	219	394	221	551	1,000
ROE (net income / shareholders' equity)	8.29%	-5.88%	-	-36.2%	5.42%	8.65%	17.5%	19.2%
ROA (Net income/ Total Assets)	1.72%	-	-	-9.17%	-	2.09%	5.17%	5.33%
Assets ¹	17,358	-	-	15,454	-	20,255	19,361	23,899
Book Value Per Share ²	-	4.200	-	3.100	3.530	4.090	4.820	5.650
Cash Flow per Share ²	1.140	0.7900	-	0.9400	1.420	1.110	1.700	2.040
Capex ¹	-	667	-	833	1,254	869	1,088	1,208
Capex / Sales	-	4.24%	-	4.64%	5.81%	3.54%	3.77%	3.65%
Announcement Date	3/30/20	3/31/21	3/30/22	3/30/23	3/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12.87 CNY

Average target price

14.46 CNY

Spread / Average Target

+12.33%

	1st Jan change	Capi.
NINGBO JIFENG AUTO PARTS CO., LTD.	-4.45%	2.32B
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PHINIA INC.	+43.48%	2B
KUNSHAN HUGUANG AUTO HARNESS CO.,LTD.	+47.54%	1.77B
NINGBO HUAXIANG ELECTRONIC CO., LTD.	+12.61%	1.61B
DOWLAIS GROUP PLC	-28.31%	1.34B
DEPO AUTO PARTS INDUSTRIAL CO., LTD.	+42.52%	1.04B