Financials Luenmei Quantum Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-27 pm EDT			5-day change	1st Jan Change
6.08 ^CNY	-1.14%		-3.80%	+7.23%

Apr. 29	Luenmei Quantum Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 29	Luenmei Quantum Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	30,112	25,970	20,431	14,301	12,830	13,736	-	-
Enterprise Value (EV) ¹	30,112	25,970	20,431	14,301	12,830	13,736	13,736	13,736
P/E ratio	18.9 x	15.4 x	19.5 x	15.1 x	14.9 x	14.5 x	11.7 x	12.2 x
Yield	-	-	-	-	3.53%	3.62%	3.95%	4.11%
Capitalization / Revenue	8.87 x	7.22 x	5.89 x	4.14 x	3.76 x	3.85 x	3.47 x	3.48 x
EV / Revenue	8.87 x	7.22 x	5.89 x	4.14 x	3.76 x	3.85 x	3.47 x	3.48 x
EV / EBITDA	12.5 x	10.8 x	-	9.29 x	8.91 x	8.39 x	6.32 x	6.34 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.98 x	2.96 x	2.36 x	1.37 x	1.18 x	1.21 x	1.16 x	1.1 x
Nbr of stocks (in thousands)	2,288,119	2,288,119	2,267,579	2,262,840	2,262,840	2,259,197	-	-
Reference price ²	13.16	11.35	9.010	6.320	5.670	6.080	6.080	6.080
Announcement Date	4/30/20	4/29/21	4/28/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,396	3,598	3,468	3,450	3,412	3,571	3,964	3,942
EBITDA ¹	2,404	2,414	-	1,540	1,439	1,638	2,173	2,166
EBIT ¹	2,078	2,117	1,296	1,195	1,065	1,205	1,540	1,432
Operating Margin	61.18%	58.84%	37.36%	34.65%	31.21%	33.74%	38.86%	36.31%
Earnings before Tax (EBT) ¹	2,095	2,125	1,303	1,208	1,088	1,216	1,552	1,443
Net income ¹	1,592	1,685	1,046	944	859	960	1,190	1,152
Net margin	46.86%	46.84%	30.17%	27.36%	25.18%	26.88%	30.03%	29.21%
EPS ²	0.6956	0.7366	0.4613	0.4172	0.3796	0.4200	0.5180	0.5000
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	0.2000	0.2200	0.2400	0.2500
Announcement Date	4/30/20	4/29/21	4/28/22	4/28/23	4/29/24	-	-	-

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	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	23.7%	20.6%	12.1%	9.51%	7.97%	8.37%	9.88%	8.77%
ROA (Net income/ Total Assets)	13.8%	-	-	-	-	5.8%	6.2%	6.3%
Assets ¹	11,552	-	-	-	-	16,551	19,202	18,280
Book Value Per Share ²	3.310	3.840	3.810	4.620	4.820	5.040	5.240	5.540
Cash Flow per Share ²	0.6300	0.4100	0.7400	0.6300	0.6600	0.6700	0.8300	0.8800
Capex ¹	344	356	-	310	256	559	1,040	580
Capex / Sales	10.13%	9.89%	-	9%	7.49%	15.66%	26.25%	14.7%
Announcement Date	4/30/20	4/29/21	4/28/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.08 CNY

Average target price

6.88 CNY

Spread / Average Target

+13.16%

	1st Jan change	Capi.
LUENMEI QUANTUM CO.,LTD	+7.23%	1.92B
EMIRATES CENTRAL COOLING SYSTEMS CORPORATION	-10.84%	4B
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NINGBO ENERGY GROUP CO.,LTD.	+4.40%	650M
DALIAN THERMAL POWER CO.,LTD.	+45.25%	598M
ZHEJIANG XINZHONGGANG THERMAL POWER CO., LTD.	+2.61%	499M
HENGSHENG ENERGY CO., LTD	-5.08%	417M
BEIJING JINGNENG THERMAL CO., LTD.	+10.30%	415M
QUADRA - POWER GENERATION	-0.16%	272M
KINGFORE ENERGY GROUP CO., LTD.	-10.84%	260M