Financials Shenergy Company Limited

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
8.2 ^CNY	-0.24%		-2.96%	+27.73%

Feb. 06	Russia's Novatek sets up China office to market gas amid sanctions- sources	RE
Jan. 22	Shenergy Posts 2.6% Rise in Power Generation in 2023	MT

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	22,214	28,539	25,641	35,855	26,936	40,108	40,108	-
Enterprise Value (EV) ¹	22,214	28,539	25,641	35,855	26,936	40,108	40,108	40,108
P/E ratio	12.2 x	12 x	10.7 x	22.1 x	24.7 x	11.9 x	10.8 x	9.88 x
Yield	4.1%	3.79%	5.36%	2.71%	2.91%	3.62%	3.9%	4.19%
Capitalization / Revenue	0.61 x	0.73 x	1.3 x	1.42 x	0.96 x	1.38 x	1.33 x	1.29 x
EV / Revenue	0.61 x	0.73 x	1.3 x	1.42 x	0.96 x	1.38 x	1.33 x	1.29 x
EV / EBITDA	4.61 x	-	4.24 x	7.17 x	6.21 x	4.85 x	4.19 x	3.74 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.86 x	0.96 x	0.83 x	1.17 x	0.87 x	1.21 x	1.14 x	1.08 x
Nbr of stocks (in thousands)	4,552,038	4,912,038	4,912,038	4,864,938	4,906,352	4,891,256	4,891,256	-
Reference price ²	4.880	5.810	5.220	7.370	5.490	8.200	8.200	8.200
Announcement Date	4/29/19	4/27/20	4/2/21	4/8/22	4/27/23	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	36,221	38,841	19,709	25,313	28,193	29,095	30,097	31,095
EBITDA ¹	4,818	-	6,046	5,004	4,334	8,273	9,568	10,728
EBIT ¹	2,719	-	3,457	2,414	1,406	4,665	5,199	5,596
Operating Margin	7.51%	-	17.54%	9.54%	4.99%	16.03%	17.27%	18%
Earnings before Tax (EBT) ¹	2,788	3,288	3,488	2,509	1,429	4,694	5,230	5,623
Net income ¹	1,826	2,286	2,393	1,642	1,082	3,368	3,746	4,067
Net margin	5.04%	5.89%	12.14%	6.49%	3.84%	11.57%	12.45%	13.08%
EPS ²	0.4010	0.4830	0.4870	0.3340	0.2220	0.6875	0.7625	0.8300
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.2000	0.2200	0.2800	0.2000	0.1600	0.2967	0.3200	0.3433
Announcement Date	4/29/19	4/27/20	4/2/21	4/8/22	4/27/23	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	7.08%	8.22%	7.91%	5.28%	3.53%	10.3%	10.7%	11%
ROA (Net income/ Total Assets)	3.21%	3.58%	3.32%	1.98%	1.21%	4.06%	4.14%	4.18%
Assets ¹	56,847	63,797	72,130	82,965	89,712	83,047	90,600	97,416
Book Value Per Share ²	5.700	6.030	6.280	6.280	6.290	6.760	7.180	7.630
Cash Flow per Share ²	0.6100	-	0.9900	0.6500	0.9800	1.600	1.360	2.080
Capex ¹	4,298	3,675	4,436	5,058	2,524	10,069	13,997	9,402
Capex / Sales	11.87%	9.46%	22.51%	19.98%	8.95%	34.61%	46.51%	30.24%
Announcement Date	4/29/19	4/27/20	4/2/21	4/8/22	4/27/23	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

8.2 CNY

Average target price

8.58 CNY

Spread / Average Target

+4.63%

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