Stock 601668 CHINA STATE CONSTRUCTION ENGINEERING CORPORATION LIMITED
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Financials China State Construction Engineering Corporation Limited

Equities

601668

CNE100000F46

Construction & Engineering

End-of-day quote Shanghai S.E.
Other stock markets
 03:30:00 26/04/2024 am IST 		5-day change 1st Jan Change
5.35 CNY +1.13% Intraday chart for China State Construction Engineering Corporation Limited -0.19% +11.23%
19/04 China State Construction Engineering Appoints CFO MT
19/04 China State Construction Engineering's 2023 Profit Rises 6.5%; EPS Beats Estimates MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,35,903 2,08,566 2,09,741 2,27,704 2,01,633 2,22,667 - -
Enterprise Value (EV) 1 4,08,374 4,11,852 4,57,781 5,91,556 6,45,553 5,92,175 6,30,651 2,22,667
P/E ratio 5.85 x 4.64 x 4 x 4.41 x 3.67 x 3.85 x 3.53 x 3.4 x
Yield 3.29% 4.32% 5% 4.65% 5.64% 5.31% 5.87% 6.23%
Capitalization / Revenue 0.17 x 0.13 x 0.11 x 0.11 x 0.09 x 0.09 x 0.09 x 0.08 x
EV / Revenue 0.29 x 0.26 x 0.24 x 0.29 x 0.28 x 0.24 x 0.24 x 0.08 x
EV / EBITDA 4.48 x 4.06 x 4.24 x 6.25 x 6.35 x 4.34 x 4.3 x 1.48 x
EV / FCF - - - -30.1 x -31.5 x 2.44 x 6.57 x 2.22 x
FCF Yield - - - -3.32% -3.17% 41% 15.2% 45%
Price to Book 0.92 x 0.72 x 0.63 x 0.61 x 0.48 x 0.47 x 0.43 x 0.38 x
Nbr of stocks (in thousands) 4,19,75,630 4,19,65,072 4,19,48,168 4,19,34,433 4,19,19,514 4,16,19,952 - -
Reference price 2 5.620 4.970 5.000 5.430 4.810 5.350 5.350 5.350
Announcement Date 25/04/20 16/04/21 15/04/22 17/04/23 18/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 14,19,837 16,15,023 18,91,339 20,55,052 22,65,529 24,23,224 26,09,987 27,76,226
EBITDA 1 91,124 1,01,327 1,07,982 94,620 1,01,642 1,36,363 1,46,810 1,50,930
EBIT 1 83,795 94,482 1,00,601 86,733 93,132 1,00,175 1,13,982 1,13,042
Operating Margin 5.9% 5.85% 5.32% 4.22% 4.11% 4.13% 4.37% 4.07%
Earnings before Tax (EBT) 1 81,468 94,291 1,00,886 88,835 92,995 1,00,215 1,08,238 1,13,310
Net income 1 41,881 44,944 51,408 50,950 54,264 57,567 61,876 65,665
Net margin 2.95% 2.78% 2.72% 2.48% 2.4% 2.38% 2.37% 2.37%
EPS 2 0.9600 1.070 1.250 1.230 1.310 1.389 1.517 1.575
Free Cash Flow 1 - - - -19,637 -20,473 2,42,841 96,024 1,00,089
FCF margin - - - -0.96% -0.9% 10.02% 3.68% 3.61%
FCF Conversion (EBITDA) - - - - - 178.08% 65.41% 66.31%
FCF Conversion (Net income) - - - - - 421.84% 155.19% 152.42%
Dividend per Share 2 0.1850 0.2147 0.2500 0.2527 0.2714 0.2839 0.3141 0.3333
Announcement Date 25/04/20 16/04/21 15/04/22 17/04/23 18/04/24 - - -
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 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 4,00,332 5,54,291 4,85,439 5,75,332 4,74,503 5,19,778 5,24,828 5,88,485 5,57,929 5,94,287 5,79,200 6,86,500 5,66,200 6,20,200
EBITDA - - - - - - - - - - - - - -
EBIT 20,651 28,334 21,368 29,029 20,611 15,725 22,489 26,317 - - - - - -
Operating Margin 5.16% 5.11% 4.4% 5.05% 4.34% 3.03% 4.29% 4.47% - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - -
Net income - - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - - -
EPS 0.3000 0.3400 0.3100 0.3700 0.3700 0.1800 0.3500 0.3500 - - - - - -
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 26/10/21 15/04/22 29/04/22 29/08/22 29/10/22 17/04/23 27/04/23 29/08/23 26/10/23 18/04/24 - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,72,471 2,03,286 2,48,040 3,63,852 4,43,920 3,69,508 4,07,984 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.893 x 2.006 x 2.297 x 3.845 x 4.368 x 2.71 x 2.779 x -
Free Cash Flow 1 - - - -19,637 -20,473 2,42,841 96,024 1,00,089
ROE (net income / shareholders' equity) 15.6% 15.5% 15.9% 13.9% 13.4% 12% 12.3% 11%
ROA (Net income/ Total Assets) 2.15% 2.13% 2.24% 2.02% - 2% 2.14% 2.03%
Assets 1 19,47,972 21,13,035 22,90,282 25,24,167 - 28,78,351 28,91,424 32,29,447
Book Value Per Share 2 6.100 6.920 7.960 8.930 9.980 11.40 12.50 14.00
Cash Flow per Share 2 -0.8200 0.4800 0.3400 0.0900 0.2600 1.310 1.530 1.650
Capex 1 18,250 46,220 28,321 23,466 31,503 27,685 34,319 23,614
Capex / Sales 1.29% 2.86% 1.5% 1.14% 1.39% 1.14% 1.31% 0.85%
Announcement Date 25/04/20 16/04/21 15/04/22 17/04/23 18/04/24 - - -
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 China State Construction Engineering Corporation Limited

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
5.35 CNY
Average target price
7.451 CNY
Spread / Average Target
+39.27%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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