Financials C&D International Investment Group Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:07 2024-06-03 am EDT			5-day change	1st Jan Change
15.4 ^HKD	-2.28%		-13.97%	-7.45%

May. 24	C&D International Investment Group Limited Approves Final Dividend for the Year Ended December 31, 2023	CI
May. 01	C&D International Investment's 2023 Profit, Revenue Rise	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,334	11,885	18,457	34,921	28,671	27,668	-	-
Enterprise Value (EV) ¹	7,334	11,885	18,457	34,921	28,671	53,613	55,498	56,470
P/E ratio	5.45 x	5.26 x	5.27 x	7.73 x	6.41 x	5.43 x	4.98 x	4.53 x
Yield	9.31%	-	14%	5.71%	-	8.73%	9.12%	9.32%
Capitalization / Revenue	0.41 x	0.28 x	0.35 x	0.35 x	0.21 x	0.19 x	0.18 x	0.17 x
EV / Revenue	0.41 x	0.28 x	0.35 x	0.35 x	0.21 x	0.37 x	0.35 x	0.34 x
EV / EBITDA	-	2.11 x	-	4.16 x	3.28 x	5.46 x	5.24 x	4.65 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1 x	1.43 x	1.52 x	-	-	0.82 x	0.74 x	0.64 x
Nbr of stocks (in thousands)	909,865	1,176,711	1,377,820	1,738,021	1,895,684	1,895,684	-	-
Reference price ²	8.061	10.10	13.40	20.09	15.12	14.60	14.60	14.60
Announcement Date	3/20/20	3/26/21	3/25/22	3/30/23	3/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	17,995	42,744	53,442	99,636	134,430	143,661	156,703	166,691
EBITDA ¹	-	5,622	-	8,393	8,739	9,816	10,597	12,141
EBIT ¹	3,690	5,582	5,842	8,274	8,588	9,617	9,781	10,262
Operating Margin	20.5%	13.06%	10.93%	8.3%	6.39%	6.69%	6.24%	6.16%
Earnings before Tax (EBT) ¹	3,426	4,963	5,678	-	8,583	10,716	11,514	12,304
Net income ¹	1,718	2,322	3,517	-	5,035	5,441	5,898	6,566
Net margin	9.55%	5.43%	6.58%	-	3.75%	3.79%	3.76%	3.94%
EPS ²	1.480	1.920	2.540	2.600	2.360	2.690	2.929	3.224
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.7501	-	1.870	1.147	-	1.274	1.331	1.360
Announcement Date	3/20/20	3/26/21	3/25/22	3/30/23	3/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	25,945	27,831	28,802
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	2.643 x	2.626 x	2.372 x
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	26.2%	29.7%	15.8%	16.8%	-	15.4%	14.4%	13.8%
ROA (Net income/ Total Assets)	-	1.55%	1.33%	-	-	1.09%	1.11%	1.08%
Assets ¹	-	149,503	263,467	-	-	499,168	532,527	609,812
Book Value Per Share ²	8.020	7.070	8.790	-	-	17.80	19.60	22.70
Cash Flow per Share ²	-	-	5.210	2.170	-	3.720	4.800	3.100
Capex ¹	29.7	54.8	90.1	107	-	183	172	192
Capex / Sales	0.16%	0.13%	0.17%	0.11%	-	0.13%	0.11%	0.12%
Announcement Date	3/20/20	3/26/21	3/25/22	3/30/23	3/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

14.6 CNY

Average target price

18.72 CNY

Spread / Average Target

+28.27%

	1st Jan change	Capi.
C&D INTERNATIONAL INVESTMENT GROUP LIMITED	-7.45%	3.82B
SUN HUNG KAI PROPERTIES LIMITED	-11.78%	26.36B
CHINA RESOURCES LAND LIMITED	+3.75%	25.9B
MITSUI FUDOSAN CO., LTD.	+27.31%	25.67B
DLF LIMITED	+18.02%	24.19B
MITSUBISHI ESTATE CO., LTD.	+36.75%	20.37B
CHINA OVERSEAS LAND & INVESTMENT LTD.	+10.32%	20.63B
EMAAR PROPERTIES	-4.80%	18.43B
POLY DEVELOPMENTS AND HOLDINGS GROUP CO., LTD.	+3.23%	16.74B
MACROTECH DEVELOPERS LIMITED	+38.94%	16.42B