Stock 2001 CHINA NEW HIGHER EDUCATION GROUP LIMITED
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Financials China New Higher Education Group Limited

Equities

2001

KYG2163K1076

School, College & University

Market Closed - Hong Kong S.E.
Other stock markets
 04:08:20 2024-04-26 am EDT 		5-day change 1st Jan Change
2.36 HKD +2.61% Intraday chart for China New Higher Education Group Limited +2.16% +10.80%
Feb. 28 China New Higher Education Group Limited Approves Final Dividend for the Year Ended 31 August 2023 CI
2023 China New Higher Education Group Limited Proposes Final Dividend for the Year Ended August 31, 2023, Payable on 20 September 2024 CI

Valuation

Fiscal Period: August 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,597 8,170 5,519 3,387 3,584 3,398 - -
Enterprise Value (EV) 1 5,418 8,170 7,633 5,366 5,447 5,279 5,133 4,883
P/E ratio 11.5 x 48.2 x 10.2 x 5.56 x 5.12 x 4.4 x 4 x 3.63 x
Yield 2.28% - 3.94% 9.18% 9.33% 11.5% 12.6% 13.9%
Capitalization / Revenue 4.22 x - 3.69 x 1.76 x 1.69 x 1.45 x 1.32 x 1.22 x
EV / Revenue 4.97 x - 5.1 x 2.79 x 2.57 x 2.26 x 2 x 1.75 x
EV / EBITDA 7.56 x - 8.07 x 5.1 x 4.44 x 3.98 x 3.6 x 3.15 x
EV / FCF 11 x - 27.1 x 5.53 x 8.04 x 9.7 x 5.57 x 5.91 x
FCF Yield 9.09% - 3.69% 18.1% 12.4% 10.3% 18% 16.9%
Price to Book 1.81 x - 1.82 x 1.07 x 1.02 x 0.85 x 0.74 x 0.68 x
Nbr of stocks (in thousands) 1,541,100 1,541,175 1,585,822 1,562,351 1,555,251 1,555,251 - -
Reference price 2 2.983 5.301 3.480 2.168 2.304 2.185 2.185 2.185
Announcement Date 3/23/20 12/22/20 11/30/21 11/28/22 11/28/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: August 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,089 - 1,497 1,922 2,119 2,339 2,569 2,787
EBITDA 1 716.9 - 945.4 1,052 1,226 1,327 1,427 1,550
EBIT 1 579.7 - 795.6 862.3 989.4 1,064 1,145 1,241
Operating Margin 53.22% - 53.13% 44.87% 46.69% 45.49% 44.58% 44.54%
Earnings before Tax (EBT) 1 485.9 - 677.9 747.6 845.8 924.7 1,014 1,117
Net income 1 386.4 174.9 567.8 620 703.3 772.9 848.1 936
Net margin 35.48% - 37.92% 32.26% 33.19% 33.05% 33.02% 33.59%
EPS 2 0.2600 0.1100 0.3400 0.3900 0.4500 0.4968 0.5465 0.6026
Free Cash Flow 1 492.4 - 282 969.8 677.1 544.3 921.6 825.9
FCF margin 45.21% - 18.83% 50.47% 31.95% 23.27% 35.88% 29.64%
FCF Conversion (EBITDA) 68.69% - 29.83% 92.23% 55.25% 41.02% 64.58% 53.3%
FCF Conversion (Net income) 127.43% - 49.66% 156.42% 96.28% 70.43% 108.67% 88.24%
Dividend per Share 2 0.0680 - 0.1370 0.1990 0.2150 0.2509 0.2742 0.3028
Announcement Date 3/23/20 12/22/20 11/30/21 11/28/22 11/28/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: August 2019 S2 2020 S1 2022 S1 2022 S2 2023 S1 2023 S2
Net sales 1 588.2 641.2 - 885.6 1,152 967
EBITDA - - - - - -
EBIT 1 210.8 - - 382.3 530.3 459.1
Operating Margin 35.84% - - 43.17% 46.03% 47.48%
Earnings before Tax (EBT) 1 - - - - 462.1 383.7
Net income 1 185.4 - 345.4 - 390.5 312.8
Net margin 31.53% - - - 33.89% 32.35%
EPS - 0.1500 0.2200 - - -
Dividend per Share - - - - - -
Announcement Date 3/23/20 8/27/20 4/22/22 11/28/22 5/31/23 11/28/23
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: August 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 820 - 2,114 1,979 1,863 1,881 1,736 1,485
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.144 x - 2.236 x 1.882 x 1.52 x 1.418 x 1.216 x 0.9583 x
Free Cash Flow 1 492 - 282 970 677 544 922 826
ROE (net income / shareholders' equity) 17.8% - 21.3% 20% 21.7% 20.5% 20% 20.4%
ROA (Net income/ Total Assets) 7.25% - 8.24% 7.29% 7.94% 9.43% 9.32% 10.4%
Assets 1 5,327 - 6,894 8,503 8,853 8,199 9,101 8,996
Book Value Per Share 2 1.650 - 1.910 2.020 2.270 2.560 2.960 3.190
Cash Flow per Share 2 0.5500 - 0.4300 0.9700 0.9100 0.6000 0.8000 0.8300
Capex 1 338 - 447 564 746 639 544 494
Capex / Sales 31.07% - 29.84% 29.37% 35.19% 27.32% 21.18% 17.72%
Announcement Date 3/23/20 12/22/20 11/30/21 11/28/22 11/28/23 - - -
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

Ratings for China New Higher Education Group Limited

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
2.185 CNY
Average target price
3.592 CNY
Spread / Average Target
+64.43%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Colleges & Secondary Schools

1st Jan change Capi.
CHINA NEW HIGHER EDUCATION GROUP LIMITED Stock China New Higher Education Group Limited
+10.80% 469M
CHINA GENERAL EDUCATION GROUP LIMITED Stock China General Education Group Limited
-.--% 201M
SOUTH CHINA VOCATIONAL EDUCATION GROUP COMPANY LIMITED Stock South China Vocational Education Group Company Limited
+1.32% 65.61M
Colleges & Secondary Schools
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