Financials Henan Mingtai Al.Industrial Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 03/07/2024 am IST			5-day change	1st Jan Change
11.65 ^CNY	-0.43%		-1.94%	+2.73%

26/04	Henan Mingtai Al.Industrial Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
05/03	Mingtai Aluminum Industrial Sells 106,000 Tons of Aluminum Sheets With Foil in February	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,106	8,715	30,089	17,520	13,523	14,489	-	-
Enterprise Value (EV) ¹	7,106	8,715	30,089	17,520	13,523	14,489	14,489	14,489
P/E ratio	7.64 x	9.89 x	16.6 x	12.1 x	8.66 x	9.66 x	8.41 x	7.56 x
Yield	-	1.41%	0.64%	0.92%	1.15%	2.17%	2.49%	2.8%
Capitalization / Revenue	0.5 x	0.53 x	1.22 x	0.63 x	0.51 x	0.45 x	0.39 x	0.36 x
EV / Revenue	0.5 x	0.53 x	1.22 x	0.63 x	0.51 x	0.45 x	0.39 x	0.36 x
EV / EBITDA	4.66 x	-	11.5 x	7.14 x	6.38 x	6.78 x	5.88 x	5.37 x
EV / FCF	-	-	-	-17.1 x	-	-6.51 x	-14.3 x	-12.5 x
FCF Yield	-	-	-	-5.84%	-	-15.4%	-6.99%	-7.99%
Price to Book	1.01 x	1.11 x	2.82 x	1.46 x	0.86 x	0.85 x	0.79 x	0.72 x
Nbr of stocks (in thousands)	8,62,795	8,62,823	9,55,436	9,65,828	11,92,492	12,43,704	-	-
Reference price ²	8.236	10.10	31.49	18.14	11.34	11.65	11.65	11.65
Announcement Date	28/04/20	29/03/21	18/03/22	20/04/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	14,148	16,333	24,613	27,781	26,442	32,164	36,857	40,122
EBITDA ¹	1,523	-	2,606	2,452	2,121	2,138	2,463	2,696
EBIT ¹	1,214	1,304	2,173	1,954	1,460	1,683	1,924	2,146
Operating Margin	8.58%	7.98%	8.83%	7.03%	5.52%	5.23%	5.22%	5.35%
Earnings before Tax (EBT) ¹	1,212	1,301	2,142	1,950	1,459	1,679	1,921	2,143
Net income ¹	917	1,070	1,852	1,599	1,347	1,500	1,725	1,919
Net margin	6.48%	6.55%	7.52%	5.75%	5.1%	4.66%	4.68%	4.78%
EPS ²	1.079	1.021	1.893	1.500	1.310	1.206	1.386	1.542
Free Cash Flow ¹	-	-	-	-1,023	-	-2,227	-1,013	-1,157
FCF margin	-	-	-	-3.68%	-	-6.92%	-2.75%	-2.88%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	0.1429	0.2000	0.1660	0.1300	0.2533	0.2900	0.3267
Announcement Date	28/04/20	29/03/21	18/03/22	20/04/23	26/04/24	-	-	-

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 ¹	-	-	-	-1,023	-	-2,227	-1,013	-1,157
ROE (net income / shareholders' equity)	14%	14%	16.5%	14%	10.5%	8.84%	9.36%	9.56%
ROA (Net income/ Total Assets)	-	8.72%	10%	-	6.7%	6.75%	7.2%	7.15%
Assets ¹	-	12,271	18,456	-	20,099	22,229	23,957	26,838
Book Value Per Share ²	8.160	9.130	11.20	12.40	13.10	13.60	14.80	16.10
Cash Flow per Share ²	-0.1900	0.9500	2.160	-0.8800	0.5600	1.600	1.990	1.600
Capex ¹	-	355	399	167	213	526	471	429
Capex / Sales	-	2.17%	1.62%	0.6%	0.8%	1.63%	1.28%	1.07%
Announcement Date	28/04/20	29/03/21	18/03/22	20/04/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

11.65 CNY

Average target price

13.68 CNY

Spread / Average Target

+17.42%

	1st Jan change	Capi.
HENAN MINGTAI AL.INDUSTRIAL CO.,LTD.	+2.73%	1.99B
GUANGDONG HEC TECHNOLOGY HOLDING CO., LTD	-5.18%	2.84B
SHANGHAI HUAFON ALUMINIUM CORPORATION	-1.56%	2.43B
UACJ CORPORATION	+2.60%	1.18B
JIANGSU DINGSHENG NEW MATERIALS JOINT-STOCK CO.,LTD	-26.42%	1.13B
SHANDONG HONTRON ALUMINUM INDUSTRY HOLDING COMPANY LIMITED	+25.99%	894M
ZYF LOPSKING ALUMINUM CO., LTD.	-17.46%	500M
ANHUI XINBO ALUMINUM CO., LTD.	-40.86%	498M
JIANGSU ALCHA ALUMINIUM GROUP CO., LTD.	-32.70%	401M
NANTONG HAIXING ELECTRONICS CO., LTD.	-28.69%	344M