YUANCHENG ENVIRONMENT CO., LTD.

Financials Yuancheng Environment Co., Ltd.

Equities

603388

CNE100002Y66

Construction & Engineering

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 10/05/2024 am IST			5-day change	1st Jan Change
3.52 ^CNY	-5.12%		-22.98%	-61.06%

26/04	Yuancheng Environment Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
24/01	Zhang Jianfei cancelled the acquisition of 5.57% stake in Yuancheng Environment Co., Ltd. from Hangzhou Beijia Investment Co., Ltd.	CI

Valuation

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Capitalization ¹	3,672	2,073	2,341	1,951	2,318	2,824
Enterprise Value (EV) ¹	3,764	2,441	2,901	2,523	2,904	3,278
P/E ratio	38 x	15 x	16.9 x	21.1 x	47.8 x	-48.2 x
Yield	0.84%	1%	-	0.89%	-	-
Capitalization / Revenue	4.36 x	1.67 x	2.32 x	2.73 x	4.05 x	8.64 x
EV / Revenue	4.47 x	1.96 x	2.88 x	3.53 x	5.07 x	10 x
EV / EBITDA	31.2 x	13.2 x	16.7 x	20.7 x	30.6 x	76,748 x
EV / FCF	-21.2 x	32.6 x	366 x	112 x	4.72 x	-19.3 x
FCF Yield	-4.72%	3.07%	0.27%	0.89%	21.2%	-5.18%
Price to Book	4.74 x	2.29 x	2.26 x	1.77 x	2.06 x	2.09 x
Nbr of stocks (in thousands)	2,88,182	2,89,058	2,88,628	2,88,628	2,85,142	3,25,734
Reference price ²	12.74	7.171	8.110	6.760	8.130	8.670
Announcement Date	22/04/18	25/04/19	20/04/20	14/04/21	25/04/22	28/04/23

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Net sales ¹	841.9	1,244	1,008	714.8	572.9	326.9
EBITDA ¹	120.5	184.6	173.5	121.8	94.9	0.0427
EBIT ¹	115.1	176.1	164	114.1	87.17	-6.06
Operating Margin	13.67%	14.15%	16.27%	15.96%	15.22%	-1.85%
Earnings before Tax (EBT) ¹	108.2	156.5	156.3	105.1	57.44	-54.68
Net income ¹	91.78	135.4	136.5	92.92	48.95	-52.78
Net margin	10.9%	10.88%	13.55%	13%	8.54%	-16.15%
EPS ²	0.3357	0.4786	0.4800	0.3200	0.1700	-0.1800
Free Cash Flow ¹	-177.8	74.88	7.931	22.48	615.1	-169.8
FCF margin	-21.12%	6.02%	0.79%	3.15%	107.36%	-51.94%
FCF Conversion (EBITDA)	-	40.56%	4.57%	18.45%	648.15%	-
FCF Conversion (Net income)	-	55.31%	5.81%	24.19%	1,256.41%	-
Dividend per Share ²	0.1071	0.0714	-	0.0600	-	-
Announcement Date	22/04/18	25/04/19	20/04/20	14/04/21	25/04/22	28/04/23

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Net Debt ¹	92	369	560	572	586	454
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.7636 x	1.996 x	3.23 x	4.693 x	6.173 x	10,631 x
Free Cash Flow ¹	-178	74.9	7.93	22.5	615	-170
ROE (net income / shareholders' equity)	15.5%	15.8%	13.6%	8.45%	3.71%	-3.52%
ROA (Net income/ Total Assets)	5.72%	5.18%	3.69%	2.39%	1.68%	-0.11%
Assets ¹	1,605	2,611	3,698	3,886	2,919	48,204
Book Value Per Share ²	2.690	3.130	3.590	3.810	3.950	4.140
Cash Flow per Share ²	0.5300	0.8900	0.5500	0.5000	0.2800	0.5200
Capex ¹	21.3	62.7	6.08	1.02	6.53	73.4
Capex / Sales	2.52%	5.04%	0.6%	0.14%	1.14%	22.45%
Announcement Date	22/04/18	25/04/19	20/04/20	14/04/21	25/04/22	28/04/23

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Civil Engineers & Architects

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Civil Engineers & Architects

Stock Market
Equities
603388 Stock
Financials Yuancheng Environment Co., Ltd.

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