Financials China Aoyuan Group Limited

Equities

3883

KYG2119Z1090

Real Estate Development & Operations

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
0.107 HKD +9.18% Intraday chart for China Aoyuan Group Limited +7.00% -46.50%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 9,564 11,686 30,535 17,153 3,407 2,834
Enterprise Value (EV) 1 27,926 34,440 68,941 80,531 110,707 109,545
P/E ratio 5.83 x 4.85 x 7.27 x 2.9 x -0.09 x -0.36 x
Yield 7% 8.25% 4.85% 10.4% - -
Capitalization / Revenue 0.5 x 0.38 x 0.6 x 0.25 x 0.07 x 0.15 x
EV / Revenue 1.46 x 1.11 x 1.36 x 1.19 x 2.21 x 5.85 x
EV / EBITDA 8.12 x 5.23 x 6.49 x 7.64 x -6.16 x -45.5 x
EV / FCF -1.56 x 16.9 x -11.2 x -2.75 x -71.2 x 22.4 x
FCF Yield -64.1% 5.91% -8.93% -36.4% -1.4% 4.46%
Price to Book 0.94 x 0.98 x 2.03 x 0.92 x -0.22 x -0.12 x
Nbr of stocks (in thousands) 2,676,571 2,677,883 2,690,383 2,702,883 2,965,571 2,965,571
Reference price 2 3.573 4.364 11.35 6.346 1.149 0.9555
Announcement Date 4/9/18 4/17/19 4/20/20 4/22/21 7/27/23 7/27/23
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 19,115 31,006 50,531 67,794 50,022 18,711
EBITDA 1 3,440 6,585 10,620 10,535 -17,965 -2,406
EBIT 1 3,386 6,466 10,448 10,220 -18,392 -2,747
Operating Margin 17.71% 20.85% 20.68% 15.08% -36.77% -14.68%
Earnings before Tax (EBT) 1 3,626 6,954 10,589 13,609 -36,237 -8,072
Net income 1 1,640 2,409 4,201 5,908 -33,075 -7,843
Net margin 8.58% 7.77% 8.31% 8.71% -66.12% -41.92%
EPS 2 0.6128 0.8990 1.562 2.187 -12.14 -2.645
Free Cash Flow 1 -17,907 2,035 -6,153 -29,297 -1,555 4,889
FCF margin -93.68% 6.56% -12.18% -43.22% -3.11% 26.13%
FCF Conversion (EBITDA) - 30.9% - - - -
FCF Conversion (Net income) - 84.49% - - - -
Dividend per Share 2 0.2500 0.3600 0.5500 0.6600 - -
Announcement Date 4/9/18 4/17/19 4/20/20 4/22/21 7/27/23 7/27/23
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 18,363 22,753 38,406 63,378 107,300 106,711
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 5.338 x 3.455 x 3.616 x 6.016 x -5.973 x -44.36 x
Free Cash Flow 1 -17,907 2,035 -6,153 -29,297 -1,555 4,889
ROE (net income / shareholders' equity) 9.35% 10.2% 15.4% 15.5% -152% 67.5%
ROA (Net income/ Total Assets) 2.2% 2.57% 2.73% 2.08% -3.92% -0.69%
Assets 1 74,488 93,785 153,982 284,660 844,645 1,132,721
Book Value Per Share 2 3.790 4.430 5.590 6.860 -5.230 -7.660
Cash Flow per Share 2 9.250 13.40 21.60 19.40 3.120 1.720
Capex 1 403 453 1,286 303 1,393 123
Capex / Sales 2.11% 1.46% 2.54% 0.45% 2.79% 0.66%
Announcement Date 4/9/18 4/17/19 4/20/20 4/22/21 7/27/23 7/27/23
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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