Financials Lens Technology Co., Ltd.

Equities

300433

CNE100001YW7

Electronic Equipment & Parts

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 30/04/2024 am IST			5-day change	1st Jan Change
14.31 ^CNY	-0.21%		+4.84%	+8.41%

24/04	Lens Technology's Q1 Profit Surges 379%	MT
23/04	Lens Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	57,419	1,34,190	1,14,291	51,923	65,217	70,701	-	-
Enterprise Value (EV) ¹	64,213	1,36,272	1,22,567	59,222	69,984	78,267	80,736	83,050
P/E ratio	22.7 x	27.3 x	54.7 x	21.1 x	21.6 x	18.5 x	15 x	13.4 x
Yield	1.87%	1.14%	0.44%	1.9%	2.27%	2.02%	2.5%	2.64%
Capitalization / Revenue	1.9 x	3.63 x	2.52 x	1.11 x	1.2 x	0.99 x	0.91 x	0.78 x
EV / Revenue	2.12 x	3.69 x	2.71 x	1.27 x	1.28 x	1.1 x	1.04 x	0.91 x
EV / EBITDA	11.6 x	15.6 x	19 x	7.77 x	8.49 x	8.51 x	7.86 x	7.5 x
EV / FCF	-	80.9 x	-159 x	24.4 x	17.8 x	33.8 x	21.7 x	18.1 x
FCF Yield	-	1.24%	-0.63%	4.1%	5.61%	2.96%	4.62%	5.54%
Price to Book	-	3.18 x	2.68 x	1.19 x	1.42 x	1.46 x	1.39 x	1.27 x
Nbr of stocks (in thousands)	41,54,740	43,83,857	49,73,480	49,30,952	49,40,700	49,40,700	-	-
Reference price ²	13.82	30.61	22.98	10.53	13.20	14.31	14.31	14.31
Announcement Date	27/02/20	26/02/21	28/02/22	27/02/23	21/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	30,258	36,939	45,268	46,699	54,491	71,196	77,774	91,173
EBITDA ¹	5,533	8,721	6,451	7,621	8,239	9,192	10,266	11,073
EBIT ¹	2,823	5,710	2,163	2,966	3,277	4,261	5,263	5,897
Operating Margin	9.33%	15.46%	4.78%	6.35%	6.01%	5.99%	6.77%	6.47%
Earnings before Tax (EBT) ¹	2,839	5,711	2,158	2,915	3,254	4,333	5,463	6,020
Net income ¹	2,469	4,896	2,070	2,448	3,021	3,837	4,745	5,337
Net margin	8.16%	13.25%	4.57%	5.24%	5.54%	5.39%	6.1%	5.85%
EPS ²	0.6100	1.120	0.4200	0.5000	0.6100	0.7725	0.9544	1.072
Free Cash Flow ¹	-	1,684	-770.6	2,426	3,928	2,314	3,728	4,598
FCF margin	-	4.56%	-1.7%	5.19%	7.21%	3.25%	4.79%	5.04%
FCF Conversion (EBITDA)	-	19.31%	-	31.83%	47.67%	25.17%	36.32%	41.53%
FCF Conversion (Net income)	-	34.39%	-	99.08%	130.01%	60.3%	78.58%	86.16%
Dividend per Share ²	0.2580	0.3500	0.1000	0.2000	0.3000	0.2884	0.3572	0.3783
Announcement Date	27/02/20	26/02/21	28/02/22	27/02/23	21/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	15,568	11,342	23,877	9,334	9,849	12,393	15,122	9,839	10,338	13,631	20,683	15,498	14,738	18,888	23,452	17,705	-
EBITDA ¹	-	-	-	-	1,032	2,301	-	-	-	-	-	-	1,700	2,712	3,387	-	-
EBIT ¹	-	-1,562	-530.6	-532.9	92.76	1,254	2,152	23.49	518.7	1,235	1,499	236.5	552.6	1,251	1,882	600.7	-
Operating Margin	-	-13.77%	-2.22%	-5.71%	0.94%	10.12%	14.23%	0.24%	5.02%	9.06%	7.25%	1.53%	3.75%	6.62%	8.02%	3.39%	-
Earnings before Tax (EBT) ¹	-	-1,545	-535.1	-578.9	104.2	1,249	2,141	3.473	536.8	1,241	1,472	245.6	595.9	1,324	2,061	729.9	-
Net income ¹	1,912	-1,227	-237.9	-411.4	106.7	1,064	1,689	64.55	489.7	1,095	1,372	309.2	516.7	1,145	1,703	600.4	-
Net margin	12.28%	-10.82%	-1%	-4.41%	1.08%	8.59%	11.17%	0.66%	4.74%	8.03%	6.63%	2%	3.51%	6.06%	7.26%	3.39%	-
EPS ²	-	-0.2402	-0.0443	-0.0828	0.0200	0.2100	0.3500	0.0131	0.0983	0.2200	0.2800	0.0620	0.1048	0.2486	0.3642	0.1302	-
Dividend per Share ²	-	0.1000	-	-	-	-	0.2000	-	-	-	0.3000	-	-	-	0.2367	-	-
Announcement Date	17/08/20	28/02/22	28/02/22	22/04/22	25/08/22	27/10/22	27/02/23	24/04/23	18/08/23	18/10/23	21/04/24	23/04/24	-	-	-	-	-

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	6,794	2,082	8,277	7,299	4,767	7,565	10,035	12,349
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.228 x	0.2387 x	1.283 x	0.9577 x	0.5785 x	0.823 x	0.9775 x	1.115 x
Free Cash Flow ¹	-	1,684	-771	2,426	3,928	2,314	3,729	4,598
ROE (net income / shareholders' equity)	13.4%	19.4%	4.87%	5.66%	6.69%	7.99%	9.37%	9.73%
ROA (Net income/ Total Assets)	5.77%	7.79%	2.67%	3.21%	-	4.55%	5.58%	5.75%
Assets ¹	42,796	62,844	77,499	76,300	-	84,333	85,080	92,811
Book Value Per Share ²	-	9.620	8.570	8.880	9.300	9.820	10.30	11.30
Cash Flow per Share ²	1.710	1.730	1.210	1.850	1.870	1.030	1.740	1.630
Capex ¹	4,521	5,897	6,810	6,755	5,372	5,275	6,117	6,238
Capex / Sales	14.94%	15.96%	15.04%	14.47%	9.86%	7.41%	7.87%	6.84%
Announcement Date	27/02/20	26/02/21	28/02/22	27/02/23	21/04/24	-	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Lens Technology Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

14.31 CNY

Average target price

15.91 CNY

Spread / Average Target

+11.20%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electronic Component

	1st Jan change	Capi.
LENS TECHNOLOGY CO., LTD.	+8.41%	9.77B
AMPHENOL CORPORATION	+22.06%	71.63B
HON HAI PRECISION INDUSTRY CO., LTD.	+49.28%	66.41B
MURATA MANUFACTURING CO., LTD	-6.52%	34.47B
LUXSHARE PRECISION INDUSTRY CO., LTD.	-15.24%	28.95B
JABIL INC.	-9.53%	13.79B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-11.85%	10.06B
SUZHOU TFC OPTICAL COMMUNICATION CO., LTD.	+76.30%	8.8B
EOPTOLINK TECHNOLOGY INC., LTD.	+75.39%	8.48B
COHERENT CORP.	+27.18%	8.25B

Electronic Component