Financials NBTM New Materials Group Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-06-13 pm EDT			5-day change	1st Jan Change
14.44 ^CNY	+0.70%		+1.12%	-6.78%

Apr. 26	NBTM New Materials Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 01	NBTM New Materials Group 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	5,289	4,808	7,243	5,239	9,548	8,901	-	-
Enterprise Value (EV) ¹	5,289	4,808	7,243	5,239	9,548	8,901	8,901	8,901
P/E ratio	17.5 x	55.7 x	294 x	34 x	48.4 x	24.2 x	18.4 x	14.9 x
Yield	2.33%	1.92%	0.43%	-	1.29%	1.7%	2.18%	2.7%
Capitalization / Revenue	2.45 x	1.46 x	2.02 x	-	2.47 x	1.81 x	1.5 x	1.28 x
EV / Revenue	2.45 x	1.46 x	2.02 x	-	2.47 x	1.81 x	1.5 x	1.28 x
EV / EBITDA	-	-	-	-	16.9 x	10.5 x	8.91 x	7.79 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	2 x	1.82 x	2.81 x	-	3.78 x	3.19 x	2.86 x	2.54 x
Nbr of stocks (in thousands)	616,490	616,389	616,383	616,383	616,383	616,383	-	-
Reference price ²	8.580	7.800	11.75	8.500	15.49	14.44	14.44	14.44
Announcement Date	4/29/20	4/29/21	4/22/22	4/26/23	4/2/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,162	3,283	3,591	-	3,861	4,914	5,918	6,934
EBITDA ¹	-	-	-	-	564.9	844.3	998.6	1,143
EBIT ¹	361.2	126.6	46.57	-	201.9	402.2	532.3	659.9
Operating Margin	16.71%	3.86%	1.3%	-	5.23%	8.18%	8.99%	9.52%
Earnings before Tax (EBT) ¹	351.1	125.1	37.63	-	200.1	400.7	531.5	658.9
Net income ¹	307.7	87.5	25.82	-	197.9	367	482.7	597.4
Net margin	14.24%	2.66%	0.72%	-	5.13%	7.47%	8.16%	8.62%
EPS ²	0.4900	0.1400	0.0400	0.2500	0.3200	0.5967	0.7850	0.9700
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.2000	0.1500	0.0500	-	0.2000	0.2450	0.3150	0.3900
Announcement Date	4/29/20	4/29/21	4/22/22	4/26/23	4/2/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	11.6%	3.31%	0.99%	7.76%	13.7%	16%	17.7%
ROA (Net income/ Total Assets)	8.09%	1.74%	-	2.99%	5.18%	6.33%	7.23%
Assets ¹	3,804	5,034	-	6,626	7,080	7,625	8,263
Book Value Per Share ²	4.290	4.270	4.190	4.100	4.520	5.050	5.680
Cash Flow per Share ²	0.2700	0.2100	0.4400	0.4800	0.9600	1.220	1.470
Capex ¹	149	327	437	247	393	292	487
Capex / Sales	6.88%	9.95%	12.18%	6.4%	8%	4.93%	7.02%
Announcement Date	4/29/20	4/29/21	4/22/22	4/2/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

14.44 CNY

Average target price

16.68 CNY

Spread / Average Target

+15.51%

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