Financials Windey Energy Technology Group Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 30/04/2024 am IST			5-day change	1st Jan Change
9.86 ^CNY	-1.20%		+3.68%	-7.33%

26/04	Windey Energy Technology Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
18/04	Windey Energy Technology Group Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	5,209	4,865	14,909	10,440	7,470	6,922	-
Enterprise Value (EV) ¹	5,209	4,865	14,909	10,440	7,470	6,922	6,922
P/E ratio	44.3 x	28.5 x	32.1 x	14.9 x	17.7 x	11.1 x	8.08 x
Yield	-	-	0.57%	0.67%	0.47%	1.32%	1.83%
Capitalization / Revenue	1.04 x	0.42 x	0.93 x	0.6 x	0.4 x	0.31 x	0.26 x
EV / Revenue	1.04 x	0.42 x	0.93 x	0.6 x	0.4 x	0.31 x	0.26 x
EV / EBITDA	28.7 x	21.7 x	24.9 x	13.9 x	12.6 x	30.8 x	24.6 x
EV / FCF	-	-	1,25,95,534 x	-	4,36,23,744 x	-	-
FCF Yield	-	-	0%	-	0%	-	-
Price to Book	3.43 x	2.96 x	4.98 x	2.15 x	1.42 x	1.2 x	1.06 x
Nbr of stocks (in thousands)	4,70,336	4,70,336	5,42,384	7,02,078	7,02,078	7,02,078	-
Reference price ²	11.08	10.34	27.49	14.87	10.64	9.860	9.860
Announcement Date	28/02/20	23/04/21	07/03/22	18/04/23	18/04/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	5,010	11,478	16,041	17,384	18,727	22,491	27,067
EBITDA ¹	181.2	224.3	598.8	750.3	592.7	225	281
EBIT ¹	110.7	150.8	490.6	609.3	422.6	717	989
Operating Margin	2.21%	1.31%	3.06%	3.5%	2.26%	3.19%	3.65%
Earnings before Tax (EBT) ¹	112.8	150.3	487.1	606.1	422.5	717	989
Net income ¹	106.6	173	489.8	616.5	414.1	622	858
Net margin	2.13%	1.51%	3.05%	3.55%	2.21%	2.77%	3.17%
EPS ²	0.2500	0.3625	0.8562	1.000	0.6000	0.8900	1.220
Free Cash Flow	-	-	1,184	-	171.2	-	-
FCF margin	-	-	7.38%	-	0.91%	-	-
FCF Conversion (EBITDA)	-	-	197.68%	-	28.89%	-	-
FCF Conversion (Net income)	-	-	241.65%	-	41.35%	-	-
Dividend per Share ²	-	-	0.1562	0.1000	0.0500	0.1300	0.1800
Announcement Date	28/02/20	23/04/21	07/03/22	18/04/23	18/04/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	1,184	-	171	-	-
ROE (net income / shareholders' equity)	8.09%	11%	21.8%	19.3%	8.19%	11.3%	14%
ROA (Net income/ Total Assets)	-	-	2.41%	2.29%	-	1.8%	2.2%
Assets ¹	-	-	20,366	26,910	-	34,556	39,000
Book Value Per Share ²	3.230	3.490	5.520	6.920	7.470	8.220	9.260
Cash Flow per Share ²	3.050	-1.680	4.020	0.2700	2.520	1.520	1.850
Capex ¹	205	-	1,114	1,298	1,598	1,600	1,601
Capex / Sales	4.08%	-	6.95%	7.46%	8.53%	7.11%	5.91%
Announcement Date	28/02/20	23/04/21	07/03/22	18/04/23	18/04/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.86 CNY

Average target price

13.1 CNY

Spread / Average Target

+32.86%

	1st Jan change	Capi.
WINDEY ENERGY TECHNOLOGY GROUP CO., LTD.	-7.33%	957M
SUZLON ENERGY LIMITED	+8.25%	6.75B
SANY RENEWABLE ENERGY CO.,LTD.	+0.45%	4.78B
GOLDWIND SCIENCE AND TECHNOLOGY CO., LTD.	-4.62%	3.98B
TITAN WIND ENERGY (SUZHOU) CO.,LTD	-10.52%	2.58B
INOX WIND LIMITED	+23.19%	2.41B
DAJIN HEAVY INDUSTRY CO.,LTD.	-21.00%	1.85B
CENTURY WIND POWER CO., LTD.	+60.00%	1.75B
CS WIND CORPORATION	-26.35%	1.58B
JIANGSU HAILI WIND POWER EQUIPMENT TECHNOLOGY CO., LTD.	-17.73%	1.46B