SHIJIAZHUANG CHANGSHAN BEIMING TECHNOLOGY CO.,LTD

Financials Shijiazhuang ChangShan BeiMing Technology Co.,Ltd

Equities

000158

CNE0000013X7

IT Services & Consulting

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-19 pm EDT			5-day change	1st Jan Change
7.39 ^CNY	+1.65%		+5.42%	-14.27%

Apr. 29	Shijiazhuang ChangShan BeiMing Technology Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Feb. 28	Changshan Beiming Chairman Resigns; Shares Down 4%	MT

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	8,628	10,597	9,911	11,062	8,984	13,780
Enterprise Value (EV) ¹	10,708	13,535	12,318	13,502	11,938	16,075
P/E ratio	47.5 x	114 x	103 x	86.5 x	-43.2 x	-144 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	0.89 x	1.12 x	1 x	1.02 x	0.93 x	1.53 x
EV / Revenue	1.11 x	1.43 x	1.25 x	1.24 x	1.24 x	1.78 x
EV / EBITDA	29.4 x	58.3 x	32.9 x	33.3 x	131 x	67 x
EV / FCF	116 x	-24.8 x	-45.7 x	566 x	-67 x	21.3 x
FCF Yield	0.86%	-4.03%	-2.19%	0.18%	-1.49%	4.69%
Price to Book	1.41 x	1.84 x	1.65 x	1.8 x	1.51 x	2.35 x
Nbr of stocks (in thousands)	1,652,875	1,553,853	1,598,617	1,598,617	1,598,617	1,598,617
Reference price ²	5.220	6.820	6.200	6.920	5.620	8.620
Announcement Date	4/29/19	4/24/20	4/27/21	4/15/22	4/16/23	4/28/24

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	9,656	9,447	9,884	10,882	9,663	9,007
EBITDA ¹	363.7	232.3	374	405.8	90.96	239.9
EBIT ¹	217.4	50.75	165.7	195.3	-143.3	-13.98
Operating Margin	2.25%	0.54%	1.68%	1.8%	-1.48%	-0.16%
Earnings before Tax (EBT) ¹	275.4	123.9	122.5	139.1	-243.3	-135.2
Net income ¹	186	101.1	101.3	131	-207.8	-96.22
Net margin	1.93%	1.07%	1.02%	1.2%	-2.15%	-1.07%
EPS ²	0.1100	0.0600	0.0600	0.0800	-0.1300	-0.0600
Free Cash Flow ¹	92.02	-545.8	-269.7	23.87	-178.2	753.6
FCF margin	0.95%	-5.78%	-2.73%	0.22%	-1.84%	8.37%
FCF Conversion (EBITDA)	25.3%	-	-	5.88%	-	314.13%
FCF Conversion (Net income)	49.48%	-	-	18.22%	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	4/29/19	4/24/20	4/27/21	4/15/22	4/16/23	4/28/24

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	2,080	2,938	2,406	2,439	2,953	2,295
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	5.72 x	12.65 x	6.434 x	6.011 x	32.47 x	9.565 x
Free Cash Flow ¹	92	-546	-270	23.9	-178	754
ROE (net income / shareholders' equity)	3.02%	1.59%	1.79%	2.13%	-3.84%	-2.17%
ROA (Net income/ Total Assets)	1.01%	0.22%	0.71%	0.78%	-0.54%	-0.05%
Assets ¹	18,431	45,114	14,210	16,899	38,448	186,464
Book Value Per Share ²	3.690	3.700	3.760	3.850	3.720	3.660
Cash Flow per Share ²	1.220	1.130	1.460	1.480	1.500	2.200
Capex ¹	438	346	306	292	283	174
Capex / Sales	4.54%	3.66%	3.1%	2.68%	2.93%	1.94%
Announcement Date	4/29/19	4/24/20	4/27/21	4/15/22	4/16/23	4/28/24

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Other IT Services & Consulting

	1st Jan change	Capi.
SHIJIAZHUANG CHANGSHAN BEIMING TECHNOLOGY CO.,LTD	-14.27%	1.63B
ACCENTURE PLC	-12.88%	192B
TATA CONSULTANCY SERVICES LTD.	+0.71%	167B
IBM	+3.89%	156B
AUTOMATIC DATA PROCESSING, INC.	+8.07%	103B
CROWDSTRIKE HOLDINGS, INC.	+36.59%	84.35B
RELX PLC	+11.29%	82.24B
INFOSYS LIMITED	-7.05%	71.76B
SNOWFLAKE INC.	-17.20%	55.03B
HCL TECHNOLOGIES LIMITED	-8.47%	43.53B

Other IT Services & Consulting

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Financials Shijiazhuang ChangShan BeiMing Technology Co.,Ltd

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