JINTAI ENERGY HOLDINGS LIMITED

Financials Jintai Energy Holdings Limited

Equities

2728

KYG5141G1064

Oil & Gas Refining and Marketing

Delayed Hong Kong S.E. Other stock markets 01:38:20 14/05/2024 pm IST			5-day change	1st Jan Change
0.02 ^HKD	0.00%		+5.26%	-13.04%

01/04	Jintai Energy Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Jintai Energy Swings to H1 Loss Amid Revenue Plunge	MT

Valuation

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Capitalization ¹	2,290	417.8	553.2	610.3	565.8	467.8
Enterprise Value (EV) ¹	2,579	797.8	1,505	955.9	965.4	606.6
P/E ratio	48.9 x	-1.19 x	-0.82 x	1.86 x	6.11 x	-14.6 x
Yield	0.34%	-	-	-	-	-
Capitalization / Revenue	0.23 x	0.23 x	0.18 x	0.04 x	0.05 x	3.11 x
EV / Revenue	0.26 x	0.43 x	0.5 x	0.07 x	0.09 x	4.04 x
EV / EBITDA	32.5 x	-21.7 x	-12.4 x	-63.6 x	4.24 x	246 x
EV / FCF	-15.4 x	1.77 x	7.74 x	22.2 x	-34.8 x	1.83 x
FCF Yield	-6.5%	56.6%	12.9%	4.5%	-2.87%	54.6%
Price to Book	5.36 x	6.66 x	-1.29 x	9.56 x	2.97 x	4.1 x
Nbr of stocks (in thousands)	30,94,517	30,94,517	37,12,517	44,55,021	44,55,021	44,55,021
Reference price ²	0.7400	0.1350	0.1490	0.1370	0.1270	0.1050
Announcement Date	19/04/18	29/04/19	27/04/20	27/04/21	27/05/22	28/04/23

¹HKD in Million²HKD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Net sales ¹	10,030	1,849	3,003	14,079	11,011	150.3
EBITDA ¹	79.29	-36.7	-121.1	-15.03	227.7	2.464
EBIT ¹	75.19	-39.19	-122.3	-17.06	220	1.641
Operating Margin	0.75%	-2.12%	-4.07%	-0.12%	2%	1.09%
Earnings before Tax (EBT) ¹	65.31	-372.5	-588	317.6	137	-41.25
Net income ¹	46.85	-351.8	-599.2	321.8	94.3	-31.91
Net margin	0.47%	-19.03%	-19.95%	2.29%	0.86%	-21.23%
EPS ²	0.0151	-0.1137	-0.1816	0.0736	0.0208	-0.007199
Free Cash Flow ¹	-167.7	451.9	194.4	43.02	-27.74	331
FCF margin	-1.67%	24.44%	6.47%	0.31%	-0.25%	220.22%
FCF Conversion (EBITDA)	-	-	-	-	-	13,431.79%
FCF Conversion (Net income)	-	-	-	13.37%	-	-
Dividend per Share ²	0.002500	-	-	-	-	-
Announcement Date	19/04/18	29/04/19	27/04/20	27/04/21	27/05/22	28/04/23

¹HKD in Million²HKD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Net Debt ¹	289	380	952	346	400	139
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.641 x	-10.35 x	-7.861 x	-22.99 x	1.755 x	56.32 x
Free Cash Flow ¹	-168	452	194	43	-27.7	331
ROE (net income / shareholders' equity)	12%	-150%	329%	-170%	67.7%	-30.9%
ROA (Net income/ Total Assets)	3.83%	-2.23%	-6.46%	-0.62%	9.98%	0.13%
Assets ¹	1,222	15,757	9,278	-51,720	944.7	-24,122
Book Value Per Share ²	0.1400	0.0200	-0.1200	0.0100	0.0400	0.0300
Cash Flow per Share ²	0.0100	0.0100	0.0900	0.0300	0.0100	0.0100
Capex ¹	49.6	0.57	10.2	2.21	3.56	275
Capex / Sales	0.49%	0.03%	0.34%	0.02%	0.03%	183.06%
Announcement Date	19/04/18	29/04/19	27/04/20	27/04/21	27/05/22	28/04/23

¹HKD in Million²HKD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Petroleum Product Wholesale

	1st Jan change	Capi.
JINTAI ENERGY HOLDINGS LIMITED	-13.04%	11.4M
PTT OIL AND RETAIL BUSINESS	-4.19%	5.97B
PETRONAS DAGANGAN	-3.85%	4.48B
QATAR FUEL COMPANY Q.P.S.C. ("WOQOD")	-11.16%	4B
VIVA ENERGY GROUP LIMITED	-2.15%	3.64B
RUBIS	+43.47%	3.56B
AMERIGAS PARTNERS, L.P.	+23.40%	3.23B
PT AKR CORPORINDO TBK	+10.85%	2.02B
WORLD KINECT CORPORATION	+11.37%	1.5B
GLOBAL PARTNERS LP	-0.92%	1.41B

Petroleum Product Wholesale

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Financials Jintai Energy Holdings Limited

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