Financials Shandong Shuangyi Technology Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-06-10 pm EDT			5-day change	1st Jan Change
19.46 ^CNY	+1.51%		-8.34%	+3.73%

May. 23	Shandong Shuangyi Technology Co., Ltd. Announces Final Cash Dividend on A Shares for 2023, Payable on 30 May 2024	CI
Apr. 19	Shandong Shuangyi 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	2,803	6,493	4,657	2,669	3,102	3,218	-	-
Enterprise Value (EV) ¹	2,803	6,493	4,657	2,669	3,102	3,218	3,218	3,218
P/E ratio	18.4 x	20.2 x	30.8 x	32.9 x	35.4 x	30.9 x	24.3 x	22.1 x
Yield	2.77%	-	-	-	-	-	-	-
Capitalization / Revenue	3.39 x	4.66 x	-	-	4.14 x	3.4 x	3.09 x	2.84 x
EV / Revenue	3.39 x	4.66 x	-	-	4.14 x	3.4 x	3.09 x	2.84 x
EV / EBITDA	14.7 x	16.2 x	-	-	23.7 x	21.7 x	18.1 x	16.7 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	2.73 x	5.05 x	-	-	2.18 x	2.16 x	2.03 x	1.91 x
Nbr of stocks (in thousands)	166,393	166,393	166,318	165,349	165,349	165,349	-	-
Reference price ²	16.85	39.02	28.00	16.14	18.76	19.46	19.46	19.46
Announcement Date	4/7/20	3/15/21	4/19/22	4/7/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	827.5	1,392	-	-	749.2	947	1,042	1,132
EBITDA ¹	191.1	400.7	-	-	130.6	148	178	193
EBIT ¹	174.7	380.3	-	-	101.8	120	151	166
Operating Margin	21.11%	27.32%	-	-	13.59%	12.67%	14.49%	14.66%
Earnings before Tax (EBT) ¹	175.3	379.9	-	-	101.2	120	151	166
Net income ¹	152.3	322.2	150.5	81.93	87.94	105	132	145
Net margin	18.4%	23.15%	-	-	11.74%	11.09%	12.67%	12.81%
EPS ²	0.9133	1.933	0.9100	0.4900	0.5300	0.6300	0.8000	0.8800
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	0.4667	-	-	-	-	-	-	-
Announcement Date	4/7/20	3/15/21	4/19/22	4/7/23	4/19/24	-	-	-

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)	15.9%	28.2%	-	-	6.33%	7%	8.3%	8.6%
ROA (Net income/ Total Assets)	12.9%	21.7%	-	-	-	5.7%	6.7%	6.9%
Assets ¹	1,180	1,483	-	-	-	1,842	1,970	2,101
Book Value Per Share ²	6.180	7.720	-	-	8.590	9.020	9.600	10.20
Cash Flow per Share	0.3500	1.790	-	-	-	-	-	-
Capex ¹	65.7	91.2	-	-	23.8	84	19	19
Capex / Sales	7.94%	6.55%	-	-	3.17%	8.87%	1.82%	1.68%
Announcement Date	4/7/20	3/15/21	4/19/22	4/7/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

19.46 CNY

Average target price

22 CNY

Spread / Average Target

+13.05%

	1st Jan change	Capi.
SHANDONG SHUANGYI TECHNOLOGY CO., LTD.	+3.73%	437M
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