Financials CECEP Wind-power Corporation Co.,Ltd.

Equities

601016

CNE100001T15

Electric Utilities

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 30/04/2024 am IST			5-day change	1st Jan Change
3.14 ^CNY	+1.29%		+3.63%	+4.67%

29/04	CECEP Wind-power Corporation Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
28/03	CECEP Wind-power Corporation Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	17,104	32,635	24,670	19,424	20,329	-	-
Enterprise Value (EV) ¹	17,104	32,635	24,670	19,424	20,329	20,329	20,329
P/E ratio	24.7 x	42.3 x	13 x	13.4 x	13.1 x	9.97 x	11.2 x
Yield	-	0.84%	2.39%	2.8%	3.18%	3.5%	-
Capitalization / Revenue	-	9.22 x	4.71 x	3.8 x	3.8 x	3.22 x	3.25 x
EV / Revenue	-	9.22 x	4.71 x	3.8 x	3.8 x	3.22 x	3.25 x
EV / EBITDA	-	15.2 x	5.53 x	5.32 x	4.81 x	4.54 x	4.25 x
EV / FCF	-	-8.01 x	13 x	18.1 x	-6,776 x	34.4 x	-
FCF Yield	-	-12.5%	7.71%	5.53%	-0.01%	2.91%	-
Price to Book	-	3.06 x	1.59 x	1.16 x	1.14 x	1 x	1.01 x
Nbr of stocks (in thousands)	49,86,672	50,13,052	64,75,077	64,74,714	64,74,211	-	-
Reference price ²	3.430	6.510	3.810	3.000	3.140	3.140	3.140
Announcement Date	09/03/21	10/03/22	30/03/23	28/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	3,539	5,240	5,116	5,350	6,304	6,262
EBITDA ¹	-	2,145	4,458	3,649	4,224	4,480	4,784
EBIT ¹	-	914.7	1,975	1,821	1,926	2,544	2,292
Operating Margin	-	25.85%	37.7%	35.6%	36%	40.36%	36.6%
Earnings before Tax (EBT) ¹	-	904.3	1,974	1,813	1,917	2,540	2,284
Net income ¹	617.9	767.5	1,630	1,511	1,582	2,050	1,845
Net margin	-	21.69%	31.11%	29.54%	29.57%	32.51%	29.46%
EPS ²	0.1390	0.1540	0.2930	0.2240	0.2400	0.3150	0.2800
Free Cash Flow ¹	-	-4,074	1,903	1,074	-3	591	-
FCF margin	-	-115.11%	36.32%	20.98%	-0.06%	9.38%	-
FCF Conversion (EBITDA)	-	-	42.69%	29.42%	-	13.19%	-
FCF Conversion (Net income)	-	-	116.74%	71.05%	-	28.84%	-
Dividend per Share ²	-	0.0550	0.0910	0.0840	0.1000	0.1100	-
Announcement Date	09/03/21	10/03/22	30/03/23	28/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q1	2023 Q1
Net sales ¹	-	1,272
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income	422	-
Net margin	-	-
EPS	-	-
Dividend per Share	-	-
Announcement Date	28/04/22	27/04/23

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-4,074	1,903	1,074	-3	591	-
ROE (net income / shareholders' equity)	-	7.38%	13.6%	9.26%	8.88%	10.3%	9.12%
ROA (Net income/ Total Assets)	-	2.09%	-	-	-	-	-
Assets ¹	-	36,805	-	-	-	-	-
Book Value Per Share ²	-	2.130	2.390	2.590	2.750	3.130	3.120
Cash Flow per Share ²	-	0.4200	0.7000	0.5100	0.5700	0.6500	0.7100
Capex ¹	-	6,176	2,641	2,239	1,509	3,549	2,917
Capex / Sales	-	174.51%	50.4%	43.76%	28.21%	56.29%	46.58%
Announcement Date	09/03/21	10/03/22	30/03/23	28/03/24	-	-	-

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

Ratings for CECEP Wind-power Corporation Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

D+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

3.14 CNY

Average target price

3.3 CNY

Spread / Average Target

+5.10%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Electric Utilities

	1st Jan change	Capi.
CECEP WIND-POWER CORPORATION CO.,LTD.	+4.67%	2.81B
NEXTERA ENERGY	+15.48%	144B
SOUTHERN COMPANY	+8.17%	82.94B
IBERDROLA, S.A.	-1.68%	78.45B
DUKE ENERGY CORPORATION	+3.32%	77.35B
ENEL S.P.A.	-5.81%	68.38B
CONSTELLATION ENERGY CORPORATION	+66.70%	61.4B
AMERICAN ELECTRIC POWER COMPANY, INC.	+9.09%	46.7B
GE VERNOVA INC.	0.00%	45.57B
DOMINION ENERGY, INC.	+9.36%	43.08B

Other Electric Utilities