Financials Baowu Magnesium Technology Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
18.34 ^CNY	+1.78%		+4.09%	-6.71%

Apr. 25	Baowu Magnesium Technology Co., Ltd. Proposes Final Cash Dividend for 2023	CI
Apr. 24	Baowu Magnesium Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,979	8,546	14,829	13,640	13,928	12,992	-	-
Enterprise Value (EV) ¹	5,979	8,546	14,829	13,640	13,928	12,992	12,992	12,992
P/E ratio	6.57 x	35.1 x	29.5 x	22.3 x	42.8 x	17.2 x	10.5 x	9.11 x
Yield	1.62%	0.76%	0.44%	-	0.66%	2.37%	3.74%	-
Capitalization / Revenue	1.07 x	1.44 x	1.82 x	1.5 x	1.82 x	1.38 x	0.83 x	0.8 x
EV / Revenue	1.07 x	1.44 x	1.82 x	1.5 x	1.82 x	1.38 x	0.83 x	0.8 x
EV / EBITDA	-	18.4 x	18.8 x	12.2 x	20.6 x	11.3 x	6.04 x	4.68 x
EV / FCF	-	-	-	-	-9.2 x	-9.95 x	-20.3 x	-
FCF Yield	-	-	-	-	-10.9%	-10.1%	-4.92%	-
Price to Book	2.24 x	3.03 x	4.59 x	3.47 x	2.64 x	2.27 x	2 x	1.64 x
Nbr of stocks (in thousands)	646,423	646,423	646,423	646,423	708,423	708,423	-	-
Reference price ²	9.250	13.22	22.94	21.10	19.66	18.34	18.34	18.34
Announcement Date	2/26/20	4/14/21	2/13/22	4/7/23	3/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	5,572	5,946	8,131	9,105	7,652	9,406	15,676	16,237
EBITDA ¹	-	464	790.1	1,120	676.4	1,148	2,153	2,777
EBIT ¹	1,039	281.2	591.2	785	367.8	855.5	1,710	2,074
Operating Margin	18.65%	4.73%	7.27%	8.62%	4.81%	9.09%	10.91%	12.77%
Earnings before Tax (EBT) ¹	1,037	282.2	589.1	781.8	376.1	651.6	1,711	2,077
Net income ¹	910.4	243.7	503.4	611.3	306.4	723.5	1,207	1,426
Net margin	16.34%	4.1%	6.19%	6.71%	4%	7.69%	7.7%	8.78%
EPS ²	1.408	0.3771	0.7788	0.9457	0.4594	1.068	1.754	2.013
Free Cash Flow ¹	-	-	-	-	-1,514	-1,306	-639	-
FCF margin	-	-	-	-	-19.78%	-13.88%	-4.08%	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1500	0.1000	0.1000	-	0.1300	0.4350	0.6850	-
Announcement Date	2/26/20	4/14/21	2/13/22	4/7/23	3/29/24	-	-	-

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 ¹	-	-	-	-	-1,514	-1,306	-639	-
ROE (net income / shareholders' equity)	40.7%	8.93%	16.6%	16.7%	6.95%	8.89%	19.7%	19.2%
ROA (Net income/ Total Assets)	18.9%	4.47%	-	6.74%	-	3.75%	7.38%	7.6%
Assets ¹	4,824	5,455	-	9,063	-	19,293	16,342	18,768
Book Value Per Share ²	4.130	4.360	5.000	6.090	7.440	8.070	9.150	11.20
Cash Flow per Share ²	0.4800	0.8200	0.0900	2.080	0.4900	1.550	1.790	3.520
Capex ¹	232	404	834	1,311	1,864	2,680	1,231	623
Capex / Sales	4.16%	6.8%	10.26%	14.4%	24.36%	28.49%	7.85%	3.84%
Announcement Date	2/26/20	4/14/21	2/13/22	4/7/23	3/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

18.34 CNY

Average target price

22.44 CNY

Spread / Average Target

+22.36%

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