Financials China Longyuan Power Group Corporation Limited

Equities

916

CNE100000HD4

Electric Utilities

Market Closed - Hong Kong S.E. 04:08:12 2024-07-19 am EDT 5-day change 1st Jan Change
7.35 HKD -0.81% Intraday chart for China Longyuan Power Group Corporation Limited +2.65% +24.16%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 35,407 52,555 119,176 120,114 117,929 111,536 - -
Enterprise Value (EV) 1 110,095 138,100 210,983 220,255 236,862 242,964 256,865 264,671
P/E ratio 8.19 x 11.1 x 19.4 x 14.4 x 7.27 x 7.05 x 6.13 x 5.59 x
Yield 2.44% 1.8% 0.99% 1.39% 4.14% 3.74% 4.32% 4.76%
Capitalization / Revenue 1.29 x 1.83 x 3.2 x 3.01 x 3.13 x 2.76 x 2.49 x 2.3 x
EV / Revenue 4 x 4.82 x 5.67 x 5.53 x 6.29 x 6.02 x 5.74 x 5.46 x
EV / EBITDA 6.26 x 7.76 x 10.1 x 11.9 x 10.5 x 9.23 x 8.58 x 8 x
EV / FCF 61.4 x -17.4 x -229 x 30.2 x -32.8 x -22.6 x -25.3 x 35 x
FCF Yield 1.63% -5.75% -0.44% 3.31% -3.05% -4.42% -3.95% 2.86%
Price to Book 0.58 x 0.91 x 1.89 x 1.03 x 0.64 x 0.76 x 0.68 x 0.63 x
Nbr of stocks (in thousands) 8,036,389 8,036,389 8,036,389 8,381,963 8,371,628 8,359,816 - -
Reference price 2 4.406 6.540 14.83 8.426 5.381 6.841 6.841 6.841
Announcement Date 3/27/20 3/30/21 3/30/22 3/29/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 27,541 28,667 37,195 39,863 37,638 40,376 44,725 48,467
EBITDA 1 17,580 17,791 20,853 18,454 22,591 26,309 29,943 33,070
EBIT 1 9,946 10,056 12,558 7,686 11,807 13,925 16,221 17,748
Operating Margin 36.11% 35.08% 33.76% 19.28% 31.37% 34.49% 36.27% 36.62%
Earnings before Tax (EBT) 1 6,450 6,922 8,756 7,638 8,398 10,977 12,492 13,994
Net income 1 4,325 4,726 6,159 5,112 6,200 8,186 9,387 10,370
Net margin 15.7% 16.49% 16.56% 12.82% 16.47% 20.27% 20.99% 21.4%
EPS 2 0.5382 0.5881 0.7663 0.5863 0.7398 0.9701 1.116 1.225
Free Cash Flow 1 1,792 -7,942 -921.4 7,286 -7,228 -10,730 -10,149 7,563
FCF margin 6.51% -27.7% -2.48% 18.28% -19.2% -26.58% -22.69% 15.6%
FCF Conversion (EBITDA) 10.19% - - 39.48% - - - 22.87%
FCF Conversion (Net income) 41.43% - - 142.53% - - - 72.93%
Dividend per Share 2 0.1076 0.1176 0.1470 0.1171 0.2225 0.2558 0.2958 0.3255
Announcement Date 3/27/20 3/30/21 3/30/22 3/29/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 S2 2023 S1
Net sales 13,503 14,218 14,449 17,877 - 19,319 - - 21,662 - 18,199 19,847
EBITDA 7,709 - - - - - - - - - - -
EBIT 3,830 6,338 3,718 8,109 - 4,448 - - 8,196 - 3,707 8,616
Operating Margin 28.36% 44.58% 25.73% 45.36% - 23.03% - - 37.84% - 20.37% 43.41%
Earnings before Tax (EBT) 2,066 4,594 2,327 6,375 - - - - - - - -
Net income 1 1,117 3,210 1,517 4,420 1,101 - 2,258 1,958 4,216 1,146 - -
Net margin 8.27% 22.58% 10.5% 24.73% - - - - 19.46% - - -
EPS - - - - - - - - - - - -
Dividend per Share - - 0.1176 - - - - - - - - -
Announcement Date 3/27/20 8/11/20 3/30/21 8/27/21 3/30/22 3/30/22 4/27/22 8/23/22 8/23/22 10/27/22 3/29/23 8/29/23
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 74,688 85,544 91,807 100,141 118,933 131,428 145,328 153,135
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.249 x 4.808 x 4.403 x 5.426 x 5.265 x 4.995 x 4.853 x 4.631 x
Free Cash Flow 1 1,792 -7,942 -921 7,286 -7,228 -10,731 -10,149 7,563
ROE (net income / shareholders' equity) 7.38% 8.55% 10.2% 7.18% 8.92% 10.8% 10.9% 11.5%
ROA (Net income/ Total Assets) 2.85% 2.85% 3.37% 2.29% 2.73% 3.48% 3.64% 3.68%
Assets 1 151,651 166,044 182,571 223,591 226,763 235,358 257,909 281,872
Book Value Per Share 2 7.550 7.180 7.830 8.180 8.420 9.060 10.00 10.90
Cash Flow per Share 2 1.560 1.530 2.080 3.540 1.660 2.960 3.110 3.730
Capex 1 11,787 20,215 17,676 22,320 21,112 30,981 35,024 29,909
Capex / Sales 42.8% 70.52% 47.52% 55.99% 56.09% 76.73% 78.31% 61.71%
Announcement Date 3/27/20 3/30/21 3/30/22 3/29/23 3/27/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
24
Last Close Price
6.841 CNY
Average target price
7.784 CNY
Spread / Average Target
+13.78%
Consensus

Quarterly revenue - Rate of surprise

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