Financials QiaoYin City Management Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 28/06/2024 am IST			5-day change	1st Jan Change
8.94 ^CNY	-0.89%		-1.97%	-18.51%

26/06	Qiaoyin City Management Bags Urban Sanitation Project for 135 Million Yuan	MT
30/05	Qiaoyin City Management Co., Ltd. Announces Cash Dividend for the Year 2023, Payable on 05 June 2024	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,173	6,175	4,356	4,483	3,653	-	-
Enterprise Value (EV) ¹	8,173	6,175	4,356	4,483	3,653	3,653	3,653
P/E ratio	21.7 x	24.4 x	13.8 x	14.1 x	10 x	8.51 x	7.33 x
Yield	0.5%	0.66%	0.94%	0.91%	1.57%	-	-
Capitalization / Revenue	2.89 x	1.85 x	1.1 x	1.14 x	0.8 x	0.67 x	0.57 x
EV / Revenue	2.89 x	1.85 x	1.1 x	1.14 x	0.8 x	0.67 x	0.57 x
EV / EBITDA	12.1 x	11.7 x	7.35 x	6.96 x	4.45 x	3.82 x	3.28 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	5.76 x	3.77 x	2.31 x	2.07 x	1.45 x	1.26 x	1.09 x
Nbr of stocks (in thousands)	4,08,660	4,08,663	4,08,665	4,08,665	4,08,665	-	-
Reference price ²	20.00	15.11	10.66	10.97	8.940	8.940	8.940
Announcement Date	30/03/21	26/04/22	27/04/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,829	3,332	3,955	3,943	4,553	5,429	6,355
EBITDA ¹	675.5	526.7	593	644.2	821.9	957.5	1,113
EBIT ¹	443.4	300.9	366.3	373.3	427.2	499.9	578.8
Operating Margin	15.67%	9.03%	9.26%	9.47%	9.38%	9.21%	9.11%
Earnings before Tax (EBT) ¹	452	300.6	349.9	354.7	408.7	481.4	560.3
Net income ¹	375.7	255.2	314.6	316.8	365	429.9	500.4
Net margin	13.28%	7.66%	7.95%	8.03%	8.02%	7.92%	7.87%
EPS ²	0.9200	0.6200	0.7700	0.7800	0.8900	1.050	1.220
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	0.1000	0.1000	0.1000	0.1000	0.1400	-	-
Announcement Date	30/03/21	26/04/22	27/04/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	30.4%	16.3%	17.7%	15.6%	13.6%	14%	14.2%
ROA (Net income/ Total Assets)	9.7%	5%	5.01%	4.4%	5.8%	-	-
Assets ¹	3,875	5,098	6,282	7,201	6,293	-	-
Book Value Per Share ²	3.470	4.010	4.620	5.290	6.150	7.100	8.230
Cash Flow per Share ²	0.7500	0.2900	0.4500	0.1900	0.6900	0.8700	1.290
Capex ¹	673	672	453	507	443	463	485
Capex / Sales	23.8%	20.17%	11.44%	12.87%	9.74%	8.53%	7.64%
Announcement Date	30/03/21	26/04/22	27/04/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

8.94 CNY

Average target price

14.2 CNY

Spread / Average Target

+58.84%

	1st Jan change	Capi.
QIAOYIN CITY MANAGEMENT CO., LTD.	-18.51%	503M
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CECEP ENVIRONMENTAL PROTECTION CO., LTD.	-19.00%	2.56B