Financials C&D International Investment Group Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:20 2024-04-26 am EDT			5-day change	1st Jan Change
14.52 ^HKD	+8.85%		+8.04%	-12.74%

Apr. 03	C&D International Investment Logs 33% Drop in Q1 Contracted Sales	MT
Apr. 03	C&D International Investment Group Limited Reports Unaudited Consolidated Sales Results for the Three Months Ended 31 March 2024	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	4,310	7,334	11,885	18,457	34,921	25,479	25,479	-
Enterprise Value (EV) ¹	4,310	7,334	11,885	18,457	34,921	28,671	51,425	53,310
P/E ratio	3.17 x	5.45 x	5.26 x	5.27 x	7.73 x	6.41 x	5.04 x	4.68 x
Yield	-	9.31%	-	14%	5.71%	7.83%	9.36%	9.6%
Capitalization / Revenue	0.35 x	0.41 x	0.28 x	0.35 x	0.35 x	0.21 x	0.18 x	0.16 x
EV / Revenue	0.35 x	0.41 x	0.28 x	0.35 x	0.35 x	0.21 x	0.36 x	0.34 x
EV / EBITDA	1.19 x	-	2.11 x	-	4.16 x	3.28 x	5.28 x	5.13 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	1 x	1.43 x	1.52 x	-	0.7 x	0.76 x	0.68 x
Nbr of stocks (in thousands)	734,865	909,865	1,176,711	1,377,820	1,738,021	1,895,684	1,895,684	-
Reference price ²	5.866	8.061	10.10	13.40	20.09	13.44	13.44	13.44
Announcement Date	3/20/19	3/20/20	3/26/21	3/25/22	3/30/23	3/21/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	12,371	17,995	42,744	53,442	99,636	134,430	142,799	156,703
EBITDA ¹	3,630	-	5,622	-	8,393	8,739	9,737	10,382
EBIT ¹	-	3,690	5,582	5,842	8,274	8,588	9,518	9,512
Operating Margin	-	20.5%	13.06%	10.93%	8.3%	6.39%	6.67%	6.07%
Earnings before Tax (EBT) ¹	-	3,426	4,963	5,678	-	8,583	10,716	11,514
Net income ¹	-	1,718	2,322	3,517	-	5,035	5,390	5,774
Net margin	-	9.55%	5.43%	6.58%	-	3.75%	3.77%	3.68%
EPS ²	1.850	1.480	1.920	2.540	2.600	2.360	2.668	2.874
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	0.7501	-	1.870	1.147	1.053	1.257	1.290
Announcement Date	3/20/19	3/20/20	3/26/21	3/25/22	3/30/23	3/21/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	40,606	25,945	27,831
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	3.869 x	2.665 x	2.681 x
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	26.2%	29.7%	15.8%	16.8%	15.4%	15.3%	14.4%
ROA (Net income/ Total Assets)	-	-	1.55%	1.33%	-	1.16%	1.09%	1.11%
Assets ¹	-	-	149,503	263,467	-	431,889	494,465	521,331
Book Value Per Share ²	-	8.020	7.070	8.790	-	19.20	17.80	19.60
Cash Flow per Share ²	-	-	-	5.210	2.170	2.010	3.720	4.800
Capex ¹	-	29.7	54.8	90.1	107	115	183	172
Capex / Sales	-	0.16%	0.13%	0.17%	0.11%	0.1%	0.13%	0.11%
Announcement Date	3/20/19	3/20/20	3/26/21	3/25/22	3/30/23	3/21/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.44 CNY

Average target price

17.49 CNY

Spread / Average Target

+30.15%

	1st Jan change	Capi.
C&D INTERNATIONAL INVESTMENT GROUP LIMITED	-12.74%	3.52B
MITSUI FUDOSAN CO., LTD.	+36.16%	27.94B
SUN HUNG KAI PROPERTIES LIMITED	-13.74%	26.97B
DLF LIMITED	+25.00%	26.95B
CHINA RESOURCES LAND LIMITED	-0.71%	25.32B
MITSUBISHI ESTATE CO., LTD.	+44.49%	22.58B
EMAAR PROPERTIES	+2.78%	19.59B
CHINA OVERSEAS LAND & INVESTMENT LTD.	+1.45%	19.52B
SUMITOMO REALTY & DEVELOPMENT CO., LTD.	+28.54%	16.23B
CK ASSET HOLDINGS LIMITED	-14.80%	14.98B