Financials Lingyi iTech (Guangdong) Company

Equities

002600

CNE1000015L5

Electronic Equipment & Parts

End-of-day quote Shenzhen S.E. 03:30:00 30/04/2024 am IST 5-day change 1st Jan Change
5.21 CNY -4.75% Intraday chart for Lingyi iTech (Guangdong) Company +2.36% -22.93%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 74,074 84,434 52,009 31,956 47,256 36,421 - -
Enterprise Value (EV) 1 74,074 84,434 57,159 31,956 47,256 40,012 40,012 40,012
P/E ratio - 37.5 x 43.3 x 20.6 x 23.3 x 13.2 x 10.2 x 7.95 x
Yield - 1.67% - - - 0.67% 2.59% 0.58%
Capitalization / Revenue 3.11 x 3 x 1.71 x 0.93 x 1.38 x 0.82 x 0.7 x 0.62 x
EV / Revenue 3.11 x 3 x 1.88 x 0.93 x 1.38 x 0.9 x 0.77 x 0.68 x
EV / EBITDA 20.2 x 20.6 x 19.4 x 7.73 x - 7.77 x 5.93 x 5.07 x
EV / FCF - - - - - 29.7 x 18.1 x 16.2 x
FCF Yield - - - - - 3.36% 5.53% 6.16%
Price to Book 6.35 x 5.84 x 3.29 x - - 1.78 x 1.6 x 0.3 x
Nbr of stocks (in thousands) 68,27,077 70,42,004 70,66,491 70,38,675 69,90,534 69,90,534 - -
Reference price 2 10.85 11.99 7.360 4.540 6.760 5.210 5.210 5.210
Announcement Date 27/02/20 30/03/21 07/04/22 28/04/23 29/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 23,815 28,143 30,384 34,485 34,124 44,276 51,664 58,921
EBITDA 1 3,661 4,102 2,946 4,133 - 5,147 6,746 7,885
EBIT 1 2,247 2,458 1,084 2,054 2,553 3,651 4,404 6,037
Operating Margin 9.43% 8.73% 3.57% 5.96% 7.48% 8.25% 8.52% 10.25%
Earnings before Tax (EBT) 1 - 2,435 1,086 1,999 2,521 3,584 4,347 5,945
Net income 1 - 2,266 1,180 1,596 2,051 2,702 3,585 4,604
Net margin - 8.05% 3.88% 4.63% 6.01% 6.1% 6.94% 7.81%
EPS 2 - 0.3200 0.1700 0.2200 0.2900 0.3940 0.5117 0.6550
Free Cash Flow 1 - - - - - 1,346 2,213 2,463
FCF margin - - - - - 3.04% 4.28% 4.18%
FCF Conversion (EBITDA) - - - - - 26.15% 32.81% 31.24%
FCF Conversion (Net income) - - - - - 49.81% 61.74% 53.5%
Dividend per Share 2 - 0.2000 - - - 0.0350 0.1350 0.0300
Announcement Date 27/02/20 30/03/21 07/04/22 28/04/23 29/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 - - - - - 7,214 - - 9,478 18,835 9,799 10,647 11,534 12,422 - -
EBITDA 1 - - - - - - - - - - - 1,462 1,704 1,440 - -
EBIT 1 - - - - - 671.2 - - 310.5 1,161 576.8 993 1,235 971 - -
Operating Margin - - - - - 9.3% - - 3.28% 6.17% 5.89% 9.33% 10.71% 7.82% - -
Earnings before Tax (EBT) 1 - - - - - 672.7 - - 1,138 1,849 577.9 982 1,224 960 - -
Net income 1 - - - - - 646.7 - - 181.3 802.8 461 805 1,004 787 - -
Net margin - - - - - 8.96% - - 1.91% 4.26% 4.7% 7.56% 8.7% 6.34% - -
EPS 2 -0.0100 0.0400 0.0300 0.1000 0.0500 0.0900 0.0900 0.0900 0.0200 0.2000 0.0700 0.1000 0.1300 0.1200 0.1000 0.1300
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 07/04/22 27/04/22 25/08/22 28/10/22 28/04/23 28/04/23 24/08/23 27/10/23 29/04/24 29/04/24 29/04/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 5,149 - - 3,591 3,591 3,591
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - 1.748 x - - 0.6978 x 0.5324 x 0.4555 x
Free Cash Flow 1 - - - - - 1,346 2,213 2,463
ROE (net income / shareholders' equity) 17.6% 17.4% 7.8% - - 13.3% 15.4% 15.9%
ROA (Net income/ Total Assets) - 7.99% - - - 5.9% 7.54% -
Assets 1 - 28,355 - - - 45,801 47,525 -
Book Value Per Share 2 1.710 2.050 2.240 - - 2.930 3.250 17.20
Cash Flow per Share 2 0.4400 0.3500 0.1500 - - 0.5700 0.6500 -
Capex 1 - 2,824 5,471 - - 3,622 2,650 2,956
Capex / Sales - 10.04% 18.01% - - 8.18% 5.13% 5.02%
Announcement Date 27/02/20 30/03/21 07/04/22 28/04/23 29/04/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
5.21 CNY
Average target price
7.25 CNY
Spread / Average Target
+39.16%
Consensus
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