Financials Glarun Technology Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 25/06/2024 am IST			5-day change	1st Jan Change
13.23 ^CNY	-0.75%		-9.38%	-4.41%

12/06	Glarun Technology to List 7.8 Million Restricted Shares	MT
24/04	Glarun Technology Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,925	21,136	22,825	21,049	17,187	16,430	-	-
Enterprise Value (EV) ¹	8,925	21,136	22,825	21,049	17,187	16,430	16,430	16,430
P/E ratio	205 x	44.8 x	43.8 x	38.5 x	28.8 x	20.3 x	16.9 x	15 x
Yield	0.15%	0.66%	0.7%	0.78%	1.05%	1.13%	1.13%	1.13%
Capitalization / Revenue	7.69 x	5.86 x	6.65 x	6.53 x	5.24 x	4.14 x	3.28 x	2.94 x
EV / Revenue	7.69 x	5.86 x	6.65 x	6.53 x	5.24 x	4.14 x	3.28 x	2.94 x
EV / EBITDA	124 x	33.6 x	35.3 x	31.5 x	23.5 x	18.2 x	14.8 x	13 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	4.94 x	4.9 x	4.84 x	4.12 x	3.1 x	2.63 x	2.33 x	2.04 x
Nbr of stocks (in thousands)	6,22,351	12,41,858	12,41,858	12,41,858	12,41,858	12,41,858	-	-
Reference price ²	14.34	17.02	18.38	16.95	13.84	13.23	13.23	13.23
Announcement Date	07/04/20	26/04/21	27/04/22	26/04/23	05/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,160	3,606	3,432	3,225	3,282	3,970	5,015	5,590
EBITDA ¹	71.69	628.4	646.4	668.5	730.4	903.8	1,113	1,266
EBIT ¹	44.57	578.2	599.4	624.3	684.8	857.3	1,092	1,246
Operating Margin	3.84%	16.04%	17.46%	19.36%	20.86%	21.59%	21.78%	22.3%
Earnings before Tax (EBT) ¹	44.3	577.6	598.6	624.1	685.5	858.5	1,093	1,248
Net income ¹	41.6	466.5	525.9	549.3	599.2	809.7	970.1	1,094
Net margin	3.59%	12.94%	15.32%	17.03%	18.26%	20.39%	19.34%	19.56%
EPS ²	0.0700	0.3800	0.4200	0.4400	0.4800	0.6525	0.7825	0.8800
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0210	0.1130	0.1280	0.1330	0.1450	0.1500	0.1500	0.1500
Announcement Date	07/04/20	26/04/21	27/04/22	26/04/23	05/02/24	-	-	-

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)	2.32%	12.3%	11.7%	11.2%	11.3%	13.1%	13.9%	14%
ROA (Net income/ Total Assets)	1.43%	6.8%	7.02%	6.71%	6.98%	7.32%	8.65%	8.19%
Assets ¹	2,903	6,864	7,493	8,187	8,580	11,062	11,215	13,352
Book Value Per Share ²	2.900	3.470	3.800	4.110	4.470	5.030	5.690	6.490
Cash Flow per Share ²	-0.0500	0.3100	0.0200	0.3500	0.3300	0.6000	0.6900	0.9200
Capex ¹	25.9	25.5	25.5	42.4	36.6	17	13.5	17
Capex / Sales	2.24%	0.71%	0.74%	1.32%	1.12%	0.43%	0.27%	0.3%
Announcement Date	07/04/20	26/04/21	27/04/22	26/04/23	05/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.23 CNY

Average target price

25.8 CNY

Spread / Average Target

+95.01%

	1st Jan change	Capi.
GLARUN TECHNOLOGY CO.,LTD	-4.41%	228.06Cr
RTX CORPORATION	+20.72%	14TCr
GENERAL DYNAMICS CORPORATION	+13.71%	8.18TCr
NORTHROP GRUMMAN CORPORATION	-8.47%	6.37TCr
BAE SYSTEMS PLC	+20.40%	5.16TCr
ROLLS-ROYCE HOLDINGS PLC	+55.49%	5TCr
L3HARRIS TECHNOLOGIES, INC.	+6.59%	4.28TCr
HINDUSTAN AERONAUTICS LIMITED	+91.57%	4.27TCr
BHARAT ELECTRONICS LIMITED	+68.12%	2.71TCr
RHEINMETALL AG	+72.47%	2.33TCr