Financials Tianrun Industry Technology Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
5.11 ^CNY	-2.11%		-0.58%	-12.65%

Apr. 24	Tianrun Industry Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 01	Tranche Update on Tianrun Industry Technology Co., Ltd.'s Equity Buyback Plan announced on December 5, 2023.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,149	6,000	10,521	5,344	6,666	5,780	-	-
Enterprise Value (EV) ¹	4,149	6,000	10,521	5,344	6,666	5,780	5,780	5,780
P/E ratio	11.9 x	12 x	19.3 x	26.6 x	16.7 x	11 x	9.38 x	8.38 x
Yield	-	-	1.06%	1.05%	3.93%	6.07%	7.24%	-
Capitalization / Revenue	-	1.35 x	2.23 x	1.7 x	1.66 x	1.25 x	1.11 x	1 x
EV / Revenue	-	1.35 x	2.23 x	1.7 x	1.66 x	1.25 x	1.11 x	1 x
EV / EBITDA	-	6.5 x	10.8 x	9.33 x	8.41 x	6.28 x	5.8 x	5.25 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	1.21 x	1.9 x	0.97 x	1.11 x	0.93 x	0.88 x	0.83 x
Nbr of stocks (in thousands)	1,127,554	1,115,219	1,114,530	1,118,053	1,139,457	1,131,125	-	-
Reference price ²	3.680	5.380	9.440	4.780	5.850	5.110	5.110	5.110
Announcement Date	2/27/20	2/22/21	3/14/22	3/20/23	3/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	4,430	4,721	3,136	4,006	4,637	5,222	5,774
EBITDA ¹	-	922.8	975.2	573.1	792.4	920	996.5	1,100
EBIT ¹	-	583.9	616.8	221.5	422.3	570.5	664	739
Operating Margin	-	13.18%	13.07%	7.06%	10.54%	12.3%	12.71%	12.8%
Earnings before Tax (EBT) ¹	-	575.4	606.6	210.5	419.3	569	664	737
Net income ¹	348	506.8	541.3	203.6	390.8	530	621.5	691
Net margin	-	11.44%	11.47%	6.49%	9.75%	11.43%	11.9%	11.97%
EPS ²	0.3100	0.4500	0.4900	0.1800	0.3500	0.4650	0.5450	0.6100
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	0.1000	0.0500	0.2300	0.3100	0.3700	-
Announcement Date	2/27/20	2/22/21	3/14/22	3/20/23	3/19/24	-	-	-

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	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	10.6%	10.3%	3.65%	6.69%	8.5%	9.5%	9.8%
ROA (Net income/ Total Assets)	-	-	6.36%	2.42%	-	6.1%	6.6%	7.1%
Assets ¹	-	-	8,505	8,429	-	8,689	9,417	9,732
Book Value Per Share ²	-	4.430	4.960	4.940	5.290	5.520	5.800	6.170
Cash Flow per Share ²	-	0.4300	0.9500	0.5100	0.8000	0.5700	0.6400	-
Capex ¹	-	-	629	380	272	161	126	70
Capex / Sales	-	-	13.32%	12.12%	6.78%	3.46%	2.4%	1.21%
Announcement Date	2/27/20	2/22/21	3/14/22	3/20/23	3/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5.11 CNY

Average target price

7.255 CNY

Spread / Average Target

+41.98%

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