Financials Guangxi Liugong Machinery Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 17/07/2024 am IST			5-day change	1st Jan Change
10.1 ^CNY	-4.45%		-4.45%	+49.85%

13/06	Guangxi Liugong Machinery Co., Ltd. Implements Cash Dividend on A Shares for the Year 2023, Payable on 20 June 2024	CI
24/05	Guangxi Liugong Machinery Co., Ltd. Approves Cash Dividend (Tax Included) for Year 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	10,243	10,863	11,374	11,496	13,151	19,984	-	-
Enterprise Value (EV) ¹	14,991	13,949	13,856	13,220	14,522	27,559	27,403	27,327
P/E ratio	10.1 x	8.18 x	15.1 x	19 x	16.5 x	14.5 x	10.5 x	7.74 x
Yield	2.16%	3.8%	2.08%	1.7%	2.97%	2.29%	2.97%	5%
Capitalization / Revenue	0.53 x	0.47 x	0.4 x	0.43 x	0.48 x	0.66 x	0.58 x	0.51 x
EV / Revenue	0.78 x	0.61 x	0.48 x	0.5 x	0.53 x	0.92 x	0.8 x	0.69 x
EV / EBITDA	9.22 x	7.16 x	7.98 x	9.68 x	7.89 x	9.94 x	7.73 x	6.02 x
EV / FCF	1,07,16,351 x	-	-	5,41,85,262 x	-	-	-	-
FCF Yield	0%	-	-	0%	-	-	-	-
Price to Book	0.99 x	0.95 x	0.74 x	0.73 x	0.8 x	1.12 x	1.04 x	0.94 x
Nbr of stocks (in thousands)	14,75,921	14,75,921	14,75,241	19,55,020	19,51,206	19,78,632	-	-
Reference price ²	6.940	7.360	7.710	5.880	6.740	10.10	10.10	10.10
Announcement Date	30/04/20	29/03/21	30/03/22	15/03/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	19,177	23,003	28,701	26,480	27,519	30,116	34,304	39,559
EBITDA ¹	1,626	1,948	1,737	1,365	1,841	2,772	3,545	4,537
EBIT ¹	1,310	1,570	1,233	768.1	1,177	1,732	2,446	3,466
Operating Margin	6.83%	6.82%	4.29%	2.9%	4.28%	5.75%	7.13%	8.76%
Earnings before Tax (EBT) ¹	1,308	1,602	1,256	790.2	1,209	1,815	2,498	3,436
Net income ¹	1,017	1,331	995.3	599.3	867.8	1,370	1,887	2,564
Net margin	5.3%	5.79%	3.47%	2.26%	3.15%	4.55%	5.5%	6.48%
EPS ²	0.6900	0.9000	0.5100	0.3100	0.4092	0.6977	0.9622	1.305
Free Cash Flow	1,399	-	-	244	-	-	-	-
FCF margin	7.29%	-	-	0.92%	-	-	-	-
FCF Conversion (EBITDA)	86.05%	-	-	17.87%	-	-	-	-
FCF Conversion (Net income)	137.52%	-	-	40.71%	-	-	-	-
Dividend per Share ²	0.1500	0.2800	0.1600	0.1000	0.2000	0.2313	0.2996	0.5045
Announcement Date	30/04/20	29/03/21	30/03/22	15/03/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	4,748	3,086	2,482	1,725	1,371	7,574	7,419	7,343
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.921 x	1.584 x	1.429 x	1.264 x	0.7447 x	2.732 x	2.093 x	1.618 x
Free Cash Flow	1,399	-	-	244	-	-	-	-
ROE (net income / shareholders' equity)	10.2%	12.1%	6.58%	3.85%	5.4%	7.85%	10%	12.3%
ROA (Net income/ Total Assets)	3.63%	4.17%	2.44%	1.45%	1.95%	2.2%	3.25%	-
Assets ¹	28,039	31,934	40,725	41,356	44,419	62,253	58,048	-
Book Value Per Share ²	7.010	7.760	10.40	8.050	8.470	9.000	9.720	10.80
Cash Flow per Share ²	1.260	1.360	0.4300	0.4900	0.8300	0.8100	0.7800	1.150
Capex ¹	459	301	872	612	388	891	1,030	1,088
Capex / Sales	2.39%	1.31%	3.04%	2.31%	1.41%	2.96%	3%	2.75%
Announcement Date	30/04/20	29/03/21	30/03/22	15/03/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.1 CNY

Average target price

11.24 CNY

Spread / Average Target

+11.29%

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