Financials Wushang Group Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 06/05/2024 am IST			5-day change	1st Jan Change
7.65 ^CNY	+0.53%		+3.66%	-10.21%

29/04	Wushang Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
01/04	Wushang Group Co., Ltd. Proposes Final Cash Dividend for 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	10,212	8,959	8,082	8,613	6,552	5,883	-	-
Enterprise Value (EV) ¹	10,212	8,959	8,082	8,613	6,552	5,883	5,883	5,883
P/E ratio	8.3 x	16.4 x	10.7 x	28 x	31.6 x	19.6 x	17.4 x	21.9 x
Yield	1.66%	1.29%	1.52%	0.45%	0.59%	0.92%	0.39%	0.78%
Capitalization / Revenue	0.58 x	1.17 x	1.13 x	1.36 x	0.91 x	0.81 x	0.77 x	0.74 x
EV / Revenue	0.58 x	1.17 x	1.13 x	1.36 x	0.91 x	0.81 x	0.77 x	0.74 x
EV / EBITDA	5.29 x	-	-	10 x	5.61 x	3.27 x	3.15 x	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.07 x	0.9 x	0.76 x	0.8 x	0.59 x	0.52 x	0.51 x	0.5 x
Nbr of stocks (in thousands)	7,68,993	7,68,993	7,68,993	7,68,993	7,68,993	7,68,993	-	-
Reference price ²	13.28	11.65	10.51	11.20	8.520	7.650	7.650	7.650
Announcement Date	09/04/20	29/03/21	30/03/22	30/03/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	17,756	7,639	7,127	6,337	7,178	7,258	7,666	7,974
EBITDA ¹	1,932	-	-	861.7	1,169	1,797	1,865	-
EBIT ¹	1,551	724.3	-	449.6	364.4	440.5	500.5	370
Operating Margin	8.74%	9.48%	-	7.09%	5.08%	6.07%	6.53%	4.64%
Earnings before Tax (EBT) ¹	1,610	725.2	-	440.6	352.3	434.5	494.5	358
Net income ¹	1,225	547.4	752.4	304.7	209.1	298	337.5	268
Net margin	6.9%	7.17%	10.56%	4.81%	2.91%	4.11%	4.4%	3.36%
EPS ²	1.600	0.7100	0.9800	0.4000	0.2700	0.3900	0.4400	0.3500
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.2200	0.1500	0.1600	0.0500	0.0500	0.0700	0.0300	0.0600
Announcement Date	09/04/20	29/03/21	30/03/22	30/03/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	13.8%	5.65%	-	2.83%	1.91%	2.68%	2.95%	2.3%
ROA (Net income/ Total Assets)	5.27%	2.36%	-	1.03%	-	0.95%	1.1%	0.8%
Assets ¹	23,240	23,196	-	29,466	-	31,368	30,682	33,500
Book Value Per Share ²	12.40	12.90	13.90	14.10	14.40	14.70	15.10	15.20
Cash Flow per Share ²	1.840	1.600	2.830	0.8100	3.130	1.090	1.960	1.900
Capex ¹	1,447	1,238	3,794	2,469	1,327	919	919	1,000
Capex / Sales	8.15%	16.21%	53.24%	38.96%	18.48%	12.66%	11.99%	12.54%
Announcement Date	09/04/20	29/03/21	30/03/22	30/03/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

7.65 CNY

Average target price

8 CNY

Spread / Average Target

+4.58%

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