ZHONGJI INNOLIGHT CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 165.4 CNY | -4.83% |
|
-3.04% | +46.48% |
| May. 24 | Zhongji Innolight Co., Ltd. Approves 2023 Profit Distribution Plan | CI |
| May. 13 | Nomura Adjusts Zhongji InnoLight Price Target to 209 Yuan From 180 Yuan, Keeps at Buy | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 37,120 | 36,171 | 33,920 | 21,487 | 88,788 | 130,505 | - | - |
| Enterprise Value (EV) 1 | 37,282 | 37,318 | 32,982 | 20,625 | 86,411 | 128,447 | 123,478 | 121,997 |
| P/E ratio | 71.4 x | 41.7 x | 35.1 x | 17.6 x | 40.9 x | 25.9 x | 19.5 x | 15.9 x |
| Yield | 0.16% | 0.24% | 0.52% | 0.74% | 0.4% | 0.61% | 0.81% | 1.07% |
| Capitalization / Revenue | 7.8 x | 5.13 x | 4.41 x | 2.23 x | 8.28 x | 5.1 x | 3.97 x | 3.26 x |
| EV / Revenue | 7.84 x | 5.29 x | 4.29 x | 2.14 x | 8.06 x | 5.02 x | 3.76 x | 3.05 x |
| EV / EBITDA | 45.3 x | 28.1 x | 23.8 x | 11.4 x | 28.7 x | 20.5 x | 15.4 x | 12.3 x |
| EV / FCF | -197 x | -40.3 x | -1,230 x | 12.4 x | 401 x | 68.5 x | 35.6 x | 57.8 x |
| FCF Yield | -0.51% | -2.48% | -0.08% | 8.07% | 0.25% | 1.46% | 2.81% | 1.73% |
| Price to Book | 5.37 x | 4.6 x | 2.96 x | 1.82 x | 6.35 x | 6.94 x | 5.34 x | 4.05 x |
| Nbr of stocks (in thousands) | 711,787 | 711,185 | 798,116 | 794,925 | 786,360 | 789,072 | - | - |
| Reference price 2 | 52.15 | 50.86 | 42.50 | 27.03 | 112.9 | 165.4 | 165.4 | 165.4 |
| Announcement Date | 2/21/20 | 2/26/21 | 2/28/22 | 2/27/23 | 2/28/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,758 | 7,050 | 7,695 | 9,642 | 10,725 | 25,612 | 32,868 | 39,985 |
| EBITDA 1 | 822.5 | 1,330 | 1,388 | 1,808 | 3,011 | 6,263 | 8,024 | 9,881 |
| EBIT 1 | 576.4 | 989.8 | 962.9 | 1,327 | 2,503 | 5,746 | 7,603 | 9,308 |
| Operating Margin | 12.11% | 14.04% | 12.51% | 13.77% | 23.34% | 22.44% | 23.13% | 23.28% |
| Earnings before Tax (EBT) 1 | 576.7 | 987 | 959.9 | 1,352 | 2,500 | 5,828 | 7,694 | 9,409 |
| Net income 1 | 513.5 | 865.5 | 877 | 1,224 | 2,181 | 5,117 | 6,780 | 8,312 |
| Net margin | 10.79% | 12.28% | 11.4% | 12.69% | 20.34% | 19.98% | 20.63% | 20.79% |
| EPS 2 | 0.7300 | 1.220 | 1.210 | 1.540 | 2.760 | 6.387 | 8.464 | 10.38 |
| Free Cash Flow 1 | -189 | -926.1 | -26.82 | 1,665 | 215.6 | 1,876 | 3,472 | 2,112 |
| FCF margin | -3.97% | -13.14% | -0.35% | 17.27% | 2.01% | 7.33% | 10.56% | 5.28% |
| FCF Conversion (EBITDA) | - | - | - | 92.08% | 7.16% | 29.96% | 43.28% | 21.37% |
| FCF Conversion (Net income) | - | - | - | 136.03% | 9.88% | 36.67% | 51.21% | 25.41% |
| Dividend per Share 2 | 0.0840 | 0.1210 | 0.2200 | 0.2000 | 0.4500 | 1.015 | 1.337 | 1.768 |
| Announcement Date | 2/21/20 | 2/26/21 | 2/28/22 | 2/27/23 | 2/28/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S2 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,805 | 2,373 | 4,398 | 2,089 | 2,142 | 2,634 | 2,777 | 5,411 | 1,837 | 2,167 | 3,026 | 3,860 | 6,721 | 4,843 | 5,849 | 6,870 | 8,300 | 7,131 | 7,480 |
| EBITDA 1 | - | 455 | - | - | - | 603.4 | - | - | - | - | - | - | - | - | 1,563 | 1,658 | 1,998 | 1,534 | - |
| EBIT 1 | 559.2 | 350.2 | 591.5 | 233.1 | 291.6 | 409.7 | 393.1 | 802.7 | 269.9 | 443.6 | 755.3 | 1,568 | 1,789 | 1,170 | 1,321 | 1,588 | 1,913 | 1,590 | 1,646 |
| Operating Margin | 14.7% | 14.76% | 13.45% | 11.16% | 13.61% | 15.55% | 14.15% | 14.84% | 14.69% | 20.47% | 24.96% | 40.63% | 26.62% | 24.16% | 22.58% | 23.12% | 23.05% | 22.29% | 22% |
| Earnings before Tax (EBT) 1 | 558 | 347.8 | 589.9 | 233.3 | 290 | 409.1 | 419.1 | 828.3 | 270.1 | 444.2 | 754.7 | 1,567 | 1,785 | 1,175 | 1,316 | 1,533 | 1,980 | 1,643 | 1,680 |
| Net income 1 | 500.3 | 316.9 | 536.2 | 217.4 | 275 | 360.1 | 371.5 | 731.5 | 249.9 | 363.8 | 682.1 | 1,328 | 1,567 | 1,009 | 1,136 | 1,311 | 1,611 | 1,380 | 1,484 |
| Net margin | 13.15% | 13.35% | 12.19% | 10.41% | 12.84% | 13.67% | 13.38% | 13.52% | 13.6% | 16.79% | 22.54% | 34.42% | 23.32% | 20.84% | 19.43% | 19.08% | 19.4% | 19.35% | 19.83% |
| EPS 2 | 0.7100 | 0.4200 | 0.7300 | 0.2700 | 0.3400 | 0.4500 | 0.4800 | 0.9300 | 0.3100 | 0.4500 | 0.8500 | 1.150 | 2.000 | 1.280 | 1.431 | 1.639 | 2.028 | 1.642 | 1.660 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.113 | - | - |
| Announcement Date | 2/26/21 | 2/28/22 | 2/28/22 | 4/24/22 | 8/25/22 | 10/28/22 | 2/27/23 | 2/27/23 | 4/23/23 | 8/27/23 | 10/22/23 | 2/28/24 | 2/28/24 | 4/21/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 162 | 1,147 | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 938 | 862 | 2,377 | 2,057 | 7,027 | 8,508 |
| Leverage (Debt/EBITDA) | 0.1975 x | 0.8627 x | - | - | - | - | - | - |
| Free Cash Flow 1 | -189 | -926 | -26.8 | 1,665 | 216 | 1,877 | 3,473 | 2,112 |
| ROE (net income / shareholders' equity) | 8.29% | 11.7% | 9.98% | 10.3% | 16.6% | 28.1% | 28.3% | 26.4% |
| ROA (Net income/ Total Assets) | 5.53% | 7.18% | 5.8% | - | - | 20.1% | 19.2% | 20.5% |
| Assets 1 | 9,285 | 12,054 | 15,133 | - | - | 25,513 | 35,321 | 40,537 |
| Book Value Per Share 2 | 9.700 | 11.10 | 14.40 | 14.90 | 17.80 | 23.80 | 31.00 | 40.90 |
| Cash Flow per Share 2 | 0.8000 | 0.0300 | 1.020 | 3.060 | 2.360 | 3.320 | 6.110 | 8.420 |
| Capex 1 | 758 | 948 | 832 | 784 | 1,682 | 1,312 | 989 | 1,336 |
| Capex / Sales | 15.94% | 13.45% | 10.81% | 8.13% | 15.68% | 5.12% | 3.01% | 3.34% |
| Announcement Date | 2/21/20 | 2/26/21 | 2/28/22 | 2/27/23 | 2/28/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
BUY
Number of Analysts
24
Last Close Price
165.4
CNY
Average target price
200.8
CNY
Spread / Average Target
+21.40%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +46.48% | 18.02B | |
| -8.12% | 187B | |
| +30.16% | 96.06B | |
| +59.72% | 66.24B | |
| +16.45% | 60.81B | |
| +27.44% | 31.46B | |
| +16.51% | 21.3B | |
| +0.52% | 19.92B | |
| +1.21% | 16.5B | |
| +17.67% | 11.27B |
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