Financials Changjiang Securities Company Limited

Equities

000783

CNE000000SH3

Investment Banking & Brokerage Services

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
5.72 CNY +7.52% Intraday chart for Changjiang Securities Company Limited +5.73% +6.32%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 28,477 39,481 46,449 41,696 29,475 31,632 31,632 -
Enterprise Value (EV) 1 28,477 39,481 46,449 41,696 29,475 29,751 31,632 31,632
P/E ratio 103 x 23.8 x 23.3 x 18 x 19.7 x 20.7 x 10.9 x 10.2 x
Yield 0.39% 2.1% 1.79% 3.98% 2.25% 2.23% 2.8% 2.97%
Capitalization / Revenue 6.52 x 5.61 x 5.97 x 4.84 x 4.63 x 4.31 x 3.38 x 3.08 x
EV / Revenue 6.52 x 5.61 x 5.97 x 4.84 x 4.63 x 4.31 x 3.38 x 3.08 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.11 x 1.41 x 1.65 x 1.39 x 0.96 x 0.95 x 0.89 x 0.84 x
Nbr of stocks (in thousands) 5,529,471 5,529,563 5,529,588 5,529,948 5,529,958 5,530,073 5,530,073 -
Reference price 2 5.150 7.140 8.400 7.540 5.330 5.720 5.720 5.720
Announcement Date 1/22/19 4/28/20 1/23/21 3/9/22 4/28/23 2/27/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 4,369 7,033 7,784 8,623 6,372 6,896 9,360 10,276
EBITDA - - - - - - - -
EBIT 1 231.3 2,319 - - - 2,935 - -
Operating Margin 5.29% 32.98% - - - 34.97% - -
Earnings before Tax (EBT) 248.2 2,340 - - - - - -
Net income 1 257.2 1,666 2,085 2,410 1,510 1,548 2,399 2,712
Net margin 5.89% 23.69% 26.79% 27.94% 23.7% 22.45% 25.63% 26.39%
EPS 2 0.0500 0.3000 0.3600 0.4200 0.2700 0.2600 0.5241 0.5603
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.0200 0.1500 0.1500 0.3000 0.1200 0.1200 0.1600 0.1700
Announcement Date 1/22/19 4/28/20 1/23/21 3/9/22 4/28/23 2/27/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - 2,298 2,384 1,975 843.4 2,003 1,266 2,259 2,151 1,681 1,317 1,747 2,591 2,699 2,699 2,807
EBITDA - - - - - - - - - - - - - - - -
EBIT - - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - - -
Net income 1,087 - - - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - - - - -
EPS - 0.1200 0.1300 0.0500 0.0100 0.1300 0.0300 0.1000 - - - - - - - -
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 8/29/19 8/27/21 10/29/21 3/9/22 4/29/22 8/26/22 10/28/22 4/28/23 4/28/23 8/28/23 10/30/23 2/27/24 - - - -
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) 0.99% 6.35% 7.58% 8.34% 5.02% 4.79% 8.44% 8.47%
ROA (Net income/ Total Assets) 0.24% 1.6% - 1.64% - 1.73% - -
Assets 1 105,532 104,439 - 147,040 - 124,926 - -
Book Value Per Share 2 4.630 5.060 5.090 5.410 5.560 5.650 6.410 6.820
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 1/22/19 4/28/20 1/23/21 3/9/22 4/28/23 2/27/24 - -
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
D+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
5.72 CNY
Average target price
6.305 CNY
Spread / Average Target
+10.23%
Consensus
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