Financials Beijing Jingneng Power Co., Ltd.

Equities

600578

CNE000001B82

Independent Power Producers

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
3.42 CNY -0.87% Intraday chart for Beijing Jingneng Power Co., Ltd. -2.29% +15.54%

Valuation

Fiscal Period: December 2018 2019 2020 2022 2023 2024 2025
Capitalization 1 19,768 21,050 20,262 21,744 22,896 22,896 -
Enterprise Value (EV) 1 19,768 21,050 20,262 21,744 19,816 22,896 22,896
P/E ratio 22.5 x 15.6 x 15.1 x 27.1 x 26.9 x 14 x 12.4 x
Yield 2.73% 3.85% - - - - -
Capitalization / Revenue 1.56 x 1.14 x - - 0.6 x 0.64 x 0.62 x
EV / Revenue 1.56 x 1.14 x - - 0.6 x 0.64 x 0.62 x
EV / EBITDA 7.04 x - - - 4.34 x 3.13 x 2.93 x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Price to Book 0.86 x 0.89 x - - 0.94 x 0.92 x 0.89 x
Nbr of stocks (in thousands) 6,746,734 6,746,734 6,709,149 6,690,427 6,694,621 6,694,621 -
Reference price 2 2.930 3.120 3.020 3.250 3.420 3.420 3.420
Announcement Date 4/26/19 4/28/20 4/28/21 4/26/23 4/26/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 12,695 18,438 - - - 32,878 35,945 37,011
EBITDA 1 2,808 - - - - 4,565 7,325 7,820
EBIT 1 809.8 1,739 - - - 1,177 2,181 2,485
Operating Margin 6.38% 9.43% - - - 3.58% 6.07% 6.71%
Earnings before Tax (EBT) 1 821.1 1,725 - - - 1,261 2,217 2,506
Net income 1 891.6 1,362 1,372 -3,111 803.2 878.3 1,626 1,838
Net margin 7.02% 7.39% - - - 2.67% 4.52% 4.97%
EPS 2 0.1300 0.2000 0.2000 - 0.1200 0.1100 0.2450 0.2750
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 0.0800 0.1200 - - - - - -
Announcement Date 4/26/19 4/28/20 4/28/21 4/25/22 4/26/23 4/26/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1
Net sales - - -
EBITDA - - -
EBIT - - -
Operating Margin - - -
Earnings before Tax (EBT) - - -
Net income 1 -1,308 -1,503 293.2
Net margin - - -
EPS -0.2100 - -
Dividend per Share - - -
Announcement Date 10/25/21 4/25/22 4/25/22
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 3.92% 5.67% - - - 3.53% 6.35% 6.96%
ROA (Net income/ Total Assets) 1.38% 1.8% - - - - - -
Assets 1 64,758 75,758 - - - - - -
Book Value Per Share 2 3.400 3.500 - - - 3.140 3.740 3.830
Cash Flow per Share 2 0.3600 0.6300 - - - 0.5800 0.9200 1.040
Capex 1 5,664 6,503 - - - 6,034 5,764 1,136
Capex / Sales 44.61% 35.27% - - - 18.35% 16.04% 3.07%
Announcement Date 4/26/19 4/28/20 4/28/21 4/25/22 4/26/23 4/26/24 - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
3.42 CNY
Average target price
4.06 CNY
Spread / Average Target
+18.71%
Consensus

Annual profits - Rate of surprise

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