Stock 688396 CHINA RESOURCES MICROELECTRONICS LIMITED
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Financials China Resources Microelectronics Limited

Equities

688396

CNE100003S06

Semiconductors

End-of-day quote Shanghai S.E.
Other stock markets
 03:30:00 30/04/2024 am IST 		5-day change 1st Jan Change
36.49 CNY -2.04% Intraday chart for China Resources Microelectronics Limited -4.58% -18.35%
25/04 China Resources Microelectronics Limited Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
29/02 CR Microelectronics' 2023 Profit Declines 43%; Shares Rise 3% MT

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 11,645 13,425 10,077 8,312 6,654 - -
Enterprise Value (EV) 2 10,823 11,851 8,385 6,830 5,523 5,591 5,402
P/E ratio 74.7 x 36.6 x 26.6 x 39.9 x 29 x 22 x 20.4 x
Yield 0.12% 0.27% 0.38% 0.25% 0.31% 0.53% 0.92%
Capitalization / Revenue 10.8 x 9.44 x 6.94 x 6.04 x 4.71 x 3.62 x 3.56 x
EV / Revenue 10 x 8.33 x 5.77 x 4.97 x 3.91 x 3.04 x 2.89 x
EV / EBITDA 38.8 x 28.7 x 16.9 x 18.8 x 13.5 x 10 x 12.9 x
EV / FCF 55.5 x 35.1 x 58.7 x -14.3 x 37.8 x 22 x 18.5 x
FCF Yield 1.8% 2.85% 1.7% -6.98% 2.65% 4.54% 5.41%
Price to Book 7.18 x 4.76 x 3.48 x 2.74 x 2.06 x 1.9 x 1.78 x
Nbr of stocks (in thousands) 12,15,925 13,20,092 13,20,092 13,20,092 13,20,092 - -
Reference price 3 62.49 64.60 52.65 44.69 36.49 36.49 36.49
Announcement Date 25/02/21 23/02/22 24/02/23 28/02/24 - - -
1CNY in Million2USD in Million3CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 812.7 1,078 1,423 1,453 1,375 1,413 1,839 1,866
EBITDA 1 159.9 278.9 413.4 495.4 364.1 409.5 559.2 417.1
EBIT 1 67.46 165.6 361.6 366.4 231.7 207.2 298.3 285.3
Operating Margin 8.3% 15.36% 25.41% 25.22% 16.84% 14.66% 16.22% 15.29%
Earnings before Tax (EBT) 1 71.44 167.7 362.1 383.1 234.5 236.1 329.5 349.5
Net income 1 56.71 148.9 348.8 378 205.6 206.4 302.6 326
Net margin 6.98% 13.81% 24.52% 26.01% 14.95% 14.61% 16.45% 17.47%
EPS 2 0.3300 0.8362 1.764 1.980 1.119 1.258 1.658 1.788
Free Cash Flow 1 - 194.9 337.3 142.7 -477 146.3 253.7 292.1
FCF margin - 18.08% 23.71% 9.82% -34.68% 10.35% 13.8% 15.65%
FCF Conversion (EBITDA) - 69.89% 81.59% 28.81% - 35.72% 45.37% 70.04%
FCF Conversion (Net income) - 130.9% 96.69% 37.77% - 70.86% 83.87% 89.61%
Dividend per Share 2 - 0.0737 0.1718 0.1983 0.1118 0.1118 0.1945 0.3355
Announcement Date 22/04/20 25/02/21 23/02/22 24/02/23 28/02/24 - - -
1USD in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S2 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 439.1 606.4 357.1 386.7 387.8 346.5 350.7 338.9 368.5 341.7 329.3 292.1 413 427.7 415.8 479.1 489.1
EBITDA 1 - - 160 118.6 118.8 91.67 - - - - - - 92.99 100.7 108.4 126.7 136.7
EBIT 1 39.71 95.18 90.25 101 108.9 80.29 81.72 63.17 62.66 42.84 63.97 3.474 57.87 52.75 62.7 58.13 68.12
Operating Margin 9.04% 15.7% 25.27% 26.11% 28.07% 23.17% 23.3% 18.64% 17% 12.54% 19.42% 1.19% 14.01% 12.33% 15.08% 12.13% 13.93%
Earnings before Tax (EBT) 1 42.3 96.12 90.52 - 109.1 100.3 77.52 - - 43.57 64.19 3.595 43.06 59.2 70.52 82.1 92.08
Net income 1 33.45 86.35 89.86 95.27 108.3 98.02 80.87 - - 38.03 58.88 4.582 40.99 55.89 66.52 76.61 86.59
Net margin 7.62% 14.24% 25.16% 24.64% 27.91% 28.28% 23.06% - - 11.13% 17.88% 1.57% 9.92% 13.07% 16% 15.99% 17.7%
EPS 2 0.1940 0.4632 0.4400 0.4692 0.5565 0.5300 0.4200 0.2877 0.3000 0.2100 0.3200 0.0251 0.2272 0.2980 0.3322 0.3738 0.4060
Dividend per Share 2 - - 0.1718 - - - - - - - - - - - 0.1436 - -
Announcement Date 22/04/20 25/02/21 23/02/22 22/04/22 18/08/22 26/10/22 24/02/23 27/04/23 30/08/23 27/10/23 28/02/24 25/04/24 - - - - -
1USD in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - 822 1,574 1,692 1,483 1,130 1,062 1,252
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - 195 337 143 -477 146 254 292
ROE (net income / shareholders' equity) 8.03% 10.3% 15.5% 14% 7.15% 5.23% 9.52% 9.03%
ROA (Net income/ Total Assets) 3.99% 7.21% 11.4% 10.8% 5.32% 4.07% 5.87% 7.12%
Assets 1 1,421 2,064 3,048 3,513 3,868 5,074 5,153 4,578
Book Value Per Share 2 6.170 8.700 13.60 15.10 16.30 17.70 19.20 20.50
Cash Flow per Share 2 0.6600 1.510 2.620 2.320 1.320 2.620 1.270 -
Capex 1 86.5 88.2 194 299 717 519 349 204
Capex / Sales 10.64% 8.18% 13.64% 20.57% 52.12% 36.71% 18.97% 10.94%
Announcement Date 22/04/20 25/02/21 23/02/22 24/02/23 28/02/24 - - -
1USD 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 China Resources Microelectronics Limited

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
36.49 CNY
Average target price
51.62 CNY
Spread / Average Target
+41.45%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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