Financials WuXi Xinje Electric Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 30/04/2024 am IST			5-day change	1st Jan Change
29.19 ^CNY	-1.78%		+6.18%	-22.28%

25/04	WuXi Xinje Electric Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
17/04	Tranche Update on WuXi Xinje Electric Co.,Ltd.'s Equity Buyback Plan announced on February 21, 2024.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,934	12,768	6,692	6,370	5,279	4,103	-	-
Enterprise Value (EV) ¹	3,934	12,768	6,560	6,048	4,955	3,655	3,506	3,314
P/E ratio	24.1 x	38.5 x	22 x	28.7 x	26.5 x	17.1 x	14 x	11.7 x
Yield	0.57%	0.31%	0.55%	0.4%	0.59%	0.91%	1.11%	1.34%
Capitalization / Revenue	6.06 x	11.3 x	5.15 x	4.77 x	3.51 x	2.29 x	1.88 x	1.55 x
EV / Revenue	6.06 x	11.3 x	5.05 x	4.53 x	3.29 x	2.04 x	1.61 x	1.25 x
EV / EBITDA	-	32.3 x	18.3 x	21.8 x	19.8 x	12.4 x	9.92 x	8.14 x
EV / FCF	-	79.7 x	57.5 x	51.2 x	81.6 x	23.7 x	18.7 x	13.9 x
FCF Yield	-	1.25%	1.74%	1.95%	1.23%	4.21%	5.33%	7.18%
Price to Book	3.27 x	8.45 x	3.77 x	3.25 x	2.47 x	1.75 x	1.58 x	1.41 x
Nbr of stocks (in thousands)	1,40,560	1,40,560	1,40,560	1,40,560	1,40,560	1,40,560	-	-
Reference price ²	27.99	90.84	47.61	45.32	37.56	29.19	29.19	29.19
Announcement Date	17/01/20	09/04/21	21/01/22	30/01/23	19/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	649.6	1,134	1,299	1,335	1,505	1,790	2,178	2,642
EBITDA ¹	-	395.5	359.3	277	250	294.7	353.4	407
EBIT ¹	186.7	381.6	340.6	241.7	218.9	259.5	316.5	371
Operating Margin	28.74%	33.64%	26.21%	18.1%	14.54%	14.5%	14.54%	14.04%
Earnings before Tax (EBT) ¹	185.8	381	338.8	238.8	216	260.5	318.5	382
Net income ¹	163.5	331.7	303.6	222	199	240	265	352
Net margin	25.16%	29.24%	23.37%	16.63%	13.22%	13.41%	12.17%	13.32%
EPS ²	1.160	2.360	2.160	1.580	1.420	1.710	2.090	2.500
Free Cash Flow ¹	-	160.1	114	118.2	60.74	154	187	238
FCF margin	-	14.12%	8.77%	8.85%	4.04%	8.6%	8.59%	9.01%
FCF Conversion (EBITDA)	-	40.48%	31.73%	42.67%	24.3%	52.26%	52.91%	58.48%
FCF Conversion (Net income)	-	48.28%	37.55%	53.23%	30.52%	64.17%	70.57%	67.61%
Dividend per Share ²	0.1600	0.2800	0.2600	0.1800	0.2200	0.2650	0.3250	0.3900
Announcement Date	17/01/20	09/04/21	21/01/22	30/01/23	19/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	-	-	132	322	325	448	597	789
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	160	114	118	60.7	154	187	238
ROE (net income / shareholders' equity)	14.4%	24.4%	18.2%	11.9%	9.72%	10.8%	11.9%	13%
ROA (Net income/ Total Assets)	12.2%	18%	13.1%	8.71%	7.1%	7.9%	8.7%	9%
Assets ¹	1,335	1,840	2,315	2,548	2,803	3,038	3,046	3,911
Book Value Per Share ²	8.550	10.80	12.60	14.00	15.20	16.70	18.50	20.70
Cash Flow per Share ²	0.9000	1.470	1.270	1.280	1.410	1.460	1.820	-
Capex ¹	78.5	46.6	64.4	61.2	137	73	110	-
Capex / Sales	12.08%	4.11%	4.96%	4.58%	9.11%	4.08%	5.05%	-
Announcement Date	17/01/20	09/04/21	21/01/22	30/01/23	19/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

29.19 CNY

Average target price

38.16 CNY

Spread / Average Target

+30.71%

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