Financials Dongfang Electronics Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 10/05/2024 am IST			5-day change	1st Jan Change
11.45 ^CNY	+5.14%		+8.94%	+42.24%

26/04	Dongfang Electronics Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
18/04	Dongfang Electronics Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	11,356	10,779	10,793	15,351	-	-
Enterprise Value (EV) ¹	11,356	10,779	10,793	15,351	15,351	15,351
P/E ratio	32.7 x	24.6 x	19.9 x	21.6 x	17.1 x	14.5 x
Yield	-	-	-	1.05%	1.31%	1.48%
Capitalization / Revenue	-	-	1.67 x	1.93 x	1.56 x	1.28 x
EV / Revenue	-	-	1.67 x	1.93 x	1.56 x	1.28 x
EV / EBITDA	-	-	-	19.1 x	15.1 x	12.2 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	-	-	2.35 x	2.97 x	2.66 x	2.29 x
Nbr of stocks (in thousands)	13,40,727	13,40,727	13,40,727	13,40,727	-	-
Reference price ²	8.470	8.040	8.050	11.45	11.45	11.45
Announcement Date	22/04/22	18/04/23	18/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	-	6,478	7,969	9,855	11,978
EBITDA ¹	-	-	-	804.7	1,016	1,260
EBIT ¹	-	-	664.3	786.8	1,055	1,214
Operating Margin	-	-	10.25%	9.87%	10.7%	10.14%
Earnings before Tax (EBT) ¹	-	-	661.6	854.3	1,103	1,286
Net income ¹	347.8	438.4	541.3	705.2	898.2	1,058
Net margin	-	-	8.36%	8.85%	9.11%	8.83%
EPS ²	0.2594	0.3270	0.4037	0.5300	0.6700	0.7900
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.1200	0.1500	0.1700
Announcement Date	22/04/22	18/04/23	18/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	-	12.4%	13.7%	15%	15.8%
ROA (Net income/ Total Assets)	-	-	-	6.3%	6.9%	7.1%
Assets ¹	-	-	-	11,194	13,017	14,899
Book Value Per Share ²	-	-	3.420	3.850	4.300	5.010
Cash Flow per Share ²	-	-	0.9400	0.6300	0.7800	0.8500
Capex ¹	-	-	-	170	170	170
Capex / Sales	-	-	-	2.13%	1.72%	1.42%
Announcement Date	22/04/22	18/04/23	18/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

11.45 CNY

Average target price

14.91 CNY

Spread / Average Target

+30.22%

	1st Jan change	Capi.
DONGFANG ELECTRONICS CO., LTD.	+42.24%	2.12B
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SIEMENS LIMITED	+53.26%	26.3B
ABB INDIA LIMITED	+53.66%	18.22B
CG POWER AND INDUSTRIAL SOLUTIONS LIMITED	+27.64%	10.6B
SHANGHAI ELECTRIC GROUP COMPANY LIMITED	+2.45%	8.4B
DOOSAN ENERBILITY CO., LTD.	+8.99%	8.1B
ZHUZHOU CRRC TIMES ELECTRIC CO., LTD.	+35.43%	8.03B
FORTUNE ELECTRIC CO., LTD.	+144.04%	6.42B
CHINA XD ELECTRIC CO., LTD	+52.54%	5.33B