Financials Zhongsheng Group Holdings Limited

Equities

881

KYG9894K1085

Auto Vehicles, Parts & Service Retailers

Market Closed - Hong Kong S.E. 01:38:06 30/04/2024 pm IST 5-day change 1st Jan Change
14.38 HKD -3.75% Intraday chart for Zhongsheng Group Holdings Limited +7.31% -23.02%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 64,762 1,06,110 1,19,642 85,168 40,505 31,748 - -
Enterprise Value (EV) 1 87,770 1,26,002 1,37,189 1,03,977 40,505 42,078 38,098 33,677
P/E ratio 14.8 x 19.7 x 14.3 x 13.1 x 8.16 x 5.97 x 5.25 x 4.76 x
Yield 1.4% 1.05% 1.39% 2.74% - 5.88% 6.81% 7.6%
Capitalization / Revenue 0.52 x 0.72 x 0.68 x 0.47 x 0.23 x 0.18 x 0.17 x 0.17 x
EV / Revenue 0.71 x 0.85 x 0.78 x 0.58 x 0.23 x 0.23 x 0.21 x 0.18 x
EV / EBITDA 9.28 x 11.6 x 9.15 x 7.99 x 3.84 x 3.79 x 3.1 x 2.62 x
EV / FCF 14.5 x 20.4 x -260 x 15.2 x - 5.63 x 5.01 x 3.74 x
FCF Yield 6.9% 4.89% -0.38% 6.57% - 17.8% 20% 26.8%
Price to Book 2.98 x 3.99 x 2.88 x 1.95 x - 0.64 x 0.59 x 0.55 x
Nbr of stocks (in thousands) 22,71,698 22,81,860 24,15,041 24,01,823 23,85,668 23,85,668 - -
Reference price 2 28.51 46.50 49.54 35.46 16.98 13.31 13.31 13.31
Announcement Date 20/03/20 19/03/21 17/03/22 23/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,24,043 1,48,348 1,75,103 1,79,857 1,79,290 1,79,535 1,82,193 1,86,187
EBITDA 1 9,457 10,876 14,991 13,020 10,558 11,115 12,280 12,852
EBIT 1 7,718 8,937 12,617 10,169 8,340 8,715 9,711 10,515
Operating Margin 6.22% 6.02% 7.21% 5.65% 4.65% 4.85% 5.33% 5.65%
Earnings before Tax (EBT) 1 6,327 7,679 11,504 8,951 6,831 7,244 8,229 8,964
Net income 1 4,502 5,540 8,329 6,668 5,018 5,331 6,054 6,567
Net margin 3.63% 3.73% 4.76% 3.71% 2.8% 2.97% 3.32% 3.53%
EPS 2 1.920 2.360 3.470 2.710 2.080 2.231 2.536 2.798
Free Cash Flow 1 6,057 6,166 -527.7 6,836 - 7,476 7,604 9,012
FCF margin 4.88% 4.16% -0.3% 3.8% - 4.16% 4.17% 4.84%
FCF Conversion (EBITDA) 64.05% 56.69% - 52.5% - 67.26% 61.92% 70.12%
FCF Conversion (Net income) 134.55% 111.31% - 102.53% - 140.24% 125.61% 137.23%
Dividend per Share 2 0.4000 0.4900 0.6900 0.9700 - 0.7824 0.9068 1.012
Announcement Date 20/03/20 19/03/21 17/03/22 23/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2
Net sales 1 66,630 58,203 90,145 87,361 87,742 86,029 93,828 81,902 97,388 78,102 84,611
EBITDA - - - - - - - - - - -
EBIT 1 4,157 3,802 5,134 5,703 6,914 5,248 4,921 4,768 3,572 3,941 4,685
Operating Margin 6.24% 6.53% 5.7% 6.53% 7.88% 6.1% 5.24% 5.82% 3.67% 5.05% 5.54%
Earnings before Tax (EBT) - 3,192 4,486 5,109 - - 4,263 - - - -
Net income 2,419 2,292 3,248 3,696 4,633 3,425 3,242 3,009 - - -
Net margin 3.63% 3.94% 3.6% 4.23% 5.28% 3.98% 3.46% 3.67% - - -
EPS - 0.9780 1.382 - - - 1.320 - - - -
Dividend per Share - - - - - - - - - - -
Announcement Date 20/03/20 10/08/20 19/03/21 09/08/21 17/03/22 30/08/22 23/03/23 23/08/23 27/03/24 - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 23,008 19,893 17,546 18,809 - 10,330 6,350 1,929
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.433 x 1.829 x 1.17 x 1.445 x - 0.9294 x 0.5171 x 0.1501 x
Free Cash Flow 1 6,057 6,166 -528 6,836 - 7,476 7,604 9,013
ROE (net income / shareholders' equity) 22.5% 23% 25% 15.9% - 11.1% 11.7% 11.9%
ROA (Net income/ Total Assets) 7.49% 8.42% 10.8% 7.53% - 5.15% 5.8% 5.69%
Assets 1 60,094 65,763 76,987 88,568 - 1,03,494 1,04,427 1,15,460
Book Value Per Share 2 9.580 11.60 17.20 18.20 - 20.60 22.50 24.10
Cash Flow per Share 2 3.210 3.840 4.440 3.490 - 5.110 5.190 8.220
Capex 1 1,743 3,158 11,400 1,949 - 2,833 2,886 3,133
Capex / Sales 1.4% 2.13% 6.51% 1.08% - 1.58% 1.58% 1.68%
Announcement Date 20/03/20 19/03/21 17/03/22 23/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
20
Last Close Price
13.31 CNY
Average target price
17.53 CNY
Spread / Average Target
+31.71%
Consensus
  1. Stock Market
  2. Equities
  3. 881 Stock
  4. Financials Zhongsheng Group Holdings Limited