Financials Guangxi Guiguan Electric PowerCo.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
6.69 ^CNY	+2.92%		+6.02%	+20.76%

Apr. 24	Guangxi Guiguan Electric PowerCo.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 09	Guangxi Guiguan Electric's Total Power Generation Falls 1.2% in Q1	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	38,545	35,155	50,605	45,402	43,668	52,733	-	-
Enterprise Value (EV) ¹	61,266	55,844	50,605	45,402	43,668	52,733	52,733	52,733
P/E ratio	18.2 x	16 x	39.6 x	14.5 x	38.3 x	19.3 x	16.3 x	11.9 x
Yield	3.89%	4.26%	2.34%	3.47%	-	3.26%	3.55%	-
Capitalization / Revenue	4.26 x	3.92 x	6.01 x	4.27 x	5.4 x	5.07 x	4.59 x	3.69 x
EV / Revenue	4.26 x	3.92 x	6.01 x	4.27 x	5.4 x	5.07 x	4.59 x	3.69 x
EV / EBITDA	7.26 x	6.68 x	12.8 x	7.17 x	11.8 x	8.44 x	7.36 x	5.62 x
EV / FCF	-	-	-	-	-	130 x	-15.2 x	-55.9 x
FCF Yield	-	-	-	-	-	0.77%	-6.58%	-1.79%
Price to Book	2.66 x	2.3 x	-	-	2.77 x	2.68 x	2.45 x	2.24 x
Nbr of stocks (in thousands)	7,882,378	7,882,378	7,882,378	7,882,378	7,882,378	7,882,378	-	-
Reference price ²	4.890	4.460	6.420	5.760	5.540	6.690	6.690	6.690
Announcement Date	4/17/20	4/28/21	4/27/22	4/27/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	9,043	8,974	8,414	10,625	8,091	10,395	11,479	14,304
EBITDA ¹	5,307	5,265	3,946	6,334	3,704	6,245	7,161	9,378
EBIT ¹	2,930	3,004	1,911	4,254	1,557	3,996	4,656	5,967
Operating Margin	32.4%	33.47%	22.71%	40.04%	19.24%	38.44%	40.56%	41.72%
Earnings before Tax (EBT) ¹	2,896	2,962	1,897	4,205	1,580	3,698	4,373	5,967
Net income ¹	2,114	2,197	1,352	3,209	1,226	2,766	3,267	4,413
Net margin	23.38%	24.48%	16.07%	30.2%	15.15%	26.61%	28.46%	30.85%
EPS ²	0.2682	0.2783	0.1622	0.3965	0.1448	0.3460	0.4096	0.5600
Free Cash Flow ¹	-	-	-	-	-	406	-3,469	-943
FCF margin	-	-	-	-	-	3.91%	-30.22%	-6.59%
FCF Conversion (EBITDA)	-	-	-	-	-	6.5%	-	-
FCF Conversion (Net income)	-	-	-	-	-	14.68%	-	-
Dividend per Share ²	0.1900	0.1900	0.1500	0.2000	-	0.2184	0.2374	-
Announcement Date	4/17/20	4/28/21	4/27/22	4/27/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	22,721	20,689	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.282 x	3.93 x	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-	-	406	-3,469	-943
ROE (net income / shareholders' equity)	14.7%	14.9%	8.58%	19.6%	6.93%	15.1%	17.5%	18.8%
ROA (Net income/ Total Assets)	4.7%	4.95%	-	-	-	5.83%	6.26%	6.51%
Assets ¹	44,958	44,366	-	-	-	47,449	52,190	67,788
Book Value Per Share ²	1.840	1.940	-	-	2.000	2.500	2.730	2.980
Cash Flow per Share	-	0.7100	-	-	-	-	-	-
Capex ¹	778	2,606	-	-	3,691	5,500	11,000	10,000
Capex / Sales	8.6%	29.04%	-	-	45.62%	52.91%	95.83%	69.91%
Announcement Date	4/17/20	4/28/21	4/27/22	4/27/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.69 CNY

Average target price

7.7 CNY

Spread / Average Target

+15.10%

	1st Jan change	Capi.
GUANGXI GUIGUAN ELECTRIC POWERCO.,LTD.	+20.76%	7.3B
CHINA YANGTZE POWER CO., LTD.	+9.17%	86.28B
CENTRAIS ELETRICAS BRASILEIRAS S.A.	-10.66%	16.76B
BROOKFIELD RENEWABLE PARTNERS L.P.	+9.71%	13.54B
NHPC LIMITED	+46.28%	11.36B
SICHUAN CHUANTOU ENERGY CO.LTD	+9.85%	11.21B
MERIDIAN ENERGY LIMITED	+11.37%	9.61B
MERCURY NZ LIMITED	-3.03%	5.37B
CHINA SOUTHERN POWER GRID ENERGY STORAGE CO., LTD.	+4.87%	4.57B
FEDERAL HYDRO-GENERATING COMPANY - RUSHYDRO	-.--%	3.83B