Financials Zhejiang Meorient Commerce Exhibition Inc.

Equities

300795

CNE100003QN8

Business Support Services

End-of-day quote Shenzhen S.E. 06:00:00 2024-05-27 pm EDT 5-day change 1st Jan Change
20.38 CNY -0.73% Intraday chart for Zhejiang Meorient Commerce Exhibition Inc. -2.53% -17.09%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,833 1,911 2,123 4,123 5,640 4,676 - -
Enterprise Value (EV) 1 2,833 1,911 2,123 4,123 5,640 4,676 4,676 4,676
P/E ratio 34.1 x -29.4 x -36.6 x 81.6 x 30 x 17.6 x 13.5 x 10.4 x
Yield - - - - 1.36% 2.06% 2.69% 3.39%
Capitalization / Revenue 6.65 x - - 11.8 x 6.75 x 4.18 x 3.37 x 2.71 x
EV / Revenue 6.65 x - - 11.8 x 6.75 x 4.18 x 3.37 x 2.71 x
EV / EBITDA 32.3 x - - 103 x 24.1 x 15.1 x 11.7 x 9.13 x
EV / FCF - - - - 21.3 x 12.7 x 11.3 x 8.77 x
FCF Yield - - - - 4.7% 7.85% 8.88% 11.4%
Price to Book 4.71 x - - 9.21 x 8.59 x 5.28 x 3.89 x 3.14 x
Nbr of stocks (in thousands) 225,369 225,369 225,369 227,293 229,442 229,442 - -
Reference price 2 12.57 8.480 9.422 18.14 24.58 20.38 20.38 20.38
Announcement Date 3/19/20 4/26/21 3/22/22 4/18/23 3/11/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 425.8 - - 348.3 835 1,118 1,386 1,725
EBITDA 1 87.68 - - 40.08 234.4 309.5 399.5 512.3
EBIT 1 83.19 - - 55.76 227.7 334.8 435.8 568.6
Operating Margin 19.54% - - 16.01% 27.28% 29.95% 31.44% 32.96%
Earnings before Tax (EBT) 1 86.16 - - 55.19 229.5 335.1 435.8 568.6
Net income 1 66.12 -64.63 -57.65 50.39 188.2 266 345.3 447
Net margin 15.53% - - 14.47% 22.54% 23.78% 24.91% 25.92%
EPS 2 0.3689 -0.2889 -0.2578 0.2222 0.8200 1.161 1.508 1.956
Free Cash Flow 1 - - - - 264.8 367 415 533
FCF margin - - - - 31.71% 32.82% 29.94% 30.9%
FCF Conversion (EBITDA) - - - - 112.98% 118.57% 103.88% 104.04%
FCF Conversion (Net income) - - - - 140.7% 137.99% 120.17% 119.23%
Dividend per Share 2 - - - - 0.3333 0.4200 0.5489 0.6900
Announcement Date 3/19/20 4/26/21 3/22/22 4/18/23 3/11/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - - 265 367 415 533
ROE (net income / shareholders' equity) 20.9% - - 12.3% 34.4% 31.6% 30.2% 30.3%
ROA (Net income/ Total Assets) - - - - 21.7% 23.4% 22.4% 23.6%
Assets 1 - - - - 868.4 1,135 1,544 1,892
Book Value Per Share 2 2.670 - - 1.970 2.860 3.860 5.240 6.490
Cash Flow per Share 2 0.2600 - - 0.3300 1.180 1.610 1.670 2.150
Capex 1 3.52 - - 2.09 6.57 11.7 9.58 9.41
Capex / Sales 0.83% - - 0.6% 0.79% 1.05% 0.69% 0.55%
Announcement Date 3/19/20 4/26/21 3/22/22 4/18/23 3/11/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
20.38 CNY
Average target price
27 CNY
Spread / Average Target
+32.48%
Consensus

Annual profits - Rate of surprise

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