Financials Anji Microelectronics Technology (Shanghai) Co., Ltd.

Equities

688019

CNE100003ML1

Semiconductors

End-of-day quote Shanghai S.E. 03:30:00 26/04/2024 am IST 5-day change 1st Jan Change
140.1 CNY +0.64% Intraday chart for Anji Microelectronics Technology (Shanghai) Co., Ltd. +3.01% -12.31%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,015 15,816 14,540 13,446 15,827 13,862 - -
Enterprise Value (EV) 1 7,015 15,502 14,250 13,201 15,432 13,381 13,359 13,075
P/E ratio 91.7 x 103 x 116 x 39.3 x 40 x 29.9 x 23.3 x 19.5 x
Yield 0.29% 0.1% 0.12% 0.23% 0.22% 0.25% 0.34% 0.47%
Capitalization / Revenue 24.6 x 37.4 x 21.2 x 12.5 x 12.8 x 8.5 x 6.83 x 5.78 x
EV / Revenue 24.6 x 36.7 x 20.8 x 12.3 x 12.5 x 8.2 x 6.58 x 5.45 x
EV / EBITDA - 83.5 x 76.9 x 34.2 x 29.6 x 21.1 x 17.1 x 15.2 x
EV / FCF - 1,70,20,22,947 x -7,92,24,427 x 30,81,77,568 x - - - -
FCF Yield - 0% -0% 0% - - - -
Price to Book 7.9 x 15.1 x 12.1 x 8.84 x 7.53 x 5.49 x 4.5 x 3.73 x
Nbr of stocks (in thousands) 96,657 96,657 96,861 97,112 99,070 98,948 - -
Reference price 2 72.57 163.6 150.1 138.5 159.8 140.1 140.1 140.1
Announcement Date 27/02/20 25/02/21 24/02/22 27/02/23 25/02/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 285.4 422.4 686.7 1,077 1,238 1,631 2,031 2,398
EBITDA 1 - 185.6 185.3 385.5 520.9 633 783.1 862.7
EBIT 1 72.9 171.7 133.4 339.2 435.8 515.1 656.6 769.5
Operating Margin 25.54% 40.64% 19.43% 31.51% 35.2% 31.58% 32.33% 32.08%
Earnings before Tax (EBT) 1 72.86 171 132.1 339.2 435.8 521.8 667.6 801.4
Net income 1 65.5 153.2 125.1 301.4 386.8 464.8 595.9 710.4
Net margin 22.95% 36.28% 18.22% 27.99% 31.24% 28.5% 29.34% 29.62%
EPS 2 0.7912 1.588 1.291 3.523 3.990 4.690 6.010 7.173
Free Cash Flow - 9.108 -179.9 42.84 - - - -
FCF margin - 2.16% -26.19% 3.98% - - - -
FCF Conversion (EBITDA) - 4.91% - 11.11% - - - -
FCF Conversion (Net income) - 5.94% - 14.21% - - - -
Dividend per Share 2 0.2088 0.1648 0.1753 0.3231 0.3500 0.3500 0.4733 0.6550
Announcement Date 27/02/20 25/02/21 24/02/22 27/02/23 25/02/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 187.5 216.1 233.1 270.3 290.4 283 269.3 305.6 323.3 339.9 663.1 378.5 388.5 429.5 456
EBITDA - - - - - - - - - - - - - - -
EBIT 1 28.34 25.48 42.78 100.4 90.64 105.5 84.52 189 80.53 81.76 - 113.6 114.8 119.8 104.2
Operating Margin 15.11% 11.79% 18.35% 37.13% 31.21% 37.27% 31.38% 61.86% 24.91% 24.06% - 30.01% 29.55% 27.9% 22.85%
Earnings before Tax (EBT) - - - - - 105.5 - - - - - - - - -
Net income - - - - - 94.88 - - - - 151.8 - - - -
Net margin - - - - - 33.52% - - - - 22.89% - - - -
EPS 2 0.2528 0.2912 0.4066 1.131 0.8154 1.008 0.7846 2.255 0.6900 0.2600 - 1.060 1.140 1.180 1.040
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 28/10/21 24/02/22 28/04/22 30/08/22 30/10/22 27/02/23 27/04/23 30/08/23 30/10/23 25/02/24 25/02/24 26/04/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - 313 290 245 396 481 503 786
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - 9.11 -180 42.8 - - - -
ROE (net income / shareholders' equity) 11.4% 15.9% 11.1% 22.2% 20.7% 19.5% 20.5% 18.7%
ROA (Net income/ Total Assets) - 13.5% 8.6% 16.2% - 15.5% 17.6% 17%
Assets 1 - 1,134 1,455 1,860 - 2,999 3,395 4,179
Book Value Per Share 2 9.180 10.80 12.40 15.70 21.20 25.50 31.10 37.50
Cash Flow per Share 2 0.8800 1.170 0.6300 2.460 3.390 4.100 5.680 6.940
Capex 1 42.1 104 241 196 338 106 97 117
Capex / Sales 14.77% 24.64% 35.09% 18.23% 27.29% 6.5% 4.78% 4.88%
Announcement Date 27/02/20 25/02/21 24/02/22 27/02/23 25/02/24 - - -
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

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
140.1 CNY
Average target price
173.2 CNY
Spread / Average Target
+23.61%
Consensus
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