Financials Changzhou Almaden Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 30/04/2024 am IST			5-day change	1st Jan Change
19.31 ^CNY	-2.72%		-1.38%	-27.81%

26/04	Changzhou Almaden Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
26/04	Changzhou Almaden Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,568	7,038	6,800	5,952	5,164	3,728	-	-
Enterprise Value (EV) ¹	3,568	7,038	6,800	5,952	5,164	3,728	3,728	3,728
P/E ratio	-36.6 x	51.2 x	114 x	71.8 x	62.2 x	30.2 x	14.9 x	17.4 x
Yield	-	-	-	0.66%	1.87%	0.88%	1.35%	-
Capitalization / Revenue	3.01 x	3.9 x	3.35 x	1.88 x	1.42 x	0.93 x	0.67 x	0.57 x
EV / Revenue	3.01 x	3.9 x	3.35 x	1.88 x	1.42 x	0.93 x	0.67 x	0.57 x
EV / EBITDA	-	-	29.1 x	23.3 x	20.6 x	11 x	8.27 x	6.33 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	3 x	2.08 x	1.86 x	1.64 x	1.18 x	0.96 x	1.11 x
Nbr of stocks (in thousands)	1,60,000	1,60,000	1,99,063	1,97,469	1,93,063	1,93,063	-	-
Reference price ²	22.30	43.99	34.16	30.14	26.75	19.31	19.31	19.31
Announcement Date	28/02/20	26/02/21	29/03/22	27/04/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,185	1,803	2,032	3,168	3,628	4,029	5,599	6,540
EBITDA ¹	-	-	233.9	255.9	250.7	337.4	450.8	589
EBIT ¹	-	161.7	60.98	89.79	86.1	202.3	290.7	230.2
Operating Margin	-	8.97%	3%	2.83%	2.37%	5.02%	5.19%	3.52%
Earnings before Tax (EBT) ¹	-	168.9	58.1	86.35	84.02	133.1	291.3	228.2
Net income ¹	-	137.7	54	83.59	83.51	128.4	258.1	220
Net margin	-	7.64%	2.66%	2.64%	2.3%	3.19%	4.61%	3.36%
EPS ²	-0.6100	0.8600	0.3000	0.4200	0.4300	0.6400	1.297	1.110
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.2000	0.5000	0.1700	0.2600	-
Announcement Date	28/02/20	26/02/21	29/03/22	27/04/23	26/04/24	-	-	-

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)	-	6.2%	1.92%	2.53%	2.59%	4.02%	6.39%	6.47%
ROA (Net income/ Total Assets)	-	3.55%	1.21%	1.69%	-	3.1%	3.7%	-
Assets ¹	-	3,881	4,473	4,938	-	4,141	6,975	-
Book Value Per Share ²	-	14.70	16.50	16.20	16.30	16.40	20.10	17.50
Cash Flow per Share ²	-	1.510	-0.8000	0.5100	0.5900	1.480	1.940	3.660
Capex ¹	-	-	161	240	467	337	492	870
Capex / Sales	-	-	7.91%	7.58%	12.88%	8.37%	8.79%	13.3%
Announcement Date	28/02/20	26/02/21	29/03/22	27/04/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

19.31 CNY

Average target price

24.52 CNY

Spread / Average Target

+26.98%

	1st Jan change	Capi.
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