Financials Chongqing Sanfeng Environment Group Corp., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
7.74 ^CNY	+0.39%		-2.40%	+3.06%

Apr. 03	Tranche Update on Chongqing Sanfeng Environment Group Corp., Ltd.'s Equity Buyback Plan announced on January 3, 2024.	CI
Mar. 28	Chongqing Sanfeng Environment Group Corp., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	13,896	14,970	10,791	12,604	12,982	-	-
Enterprise Value (EV) ¹	13,896	14,970	10,791	12,604	12,982	12,982	12,982
P/E ratio	17.6 x	12.1 x	9.46 x	10.9 x	10.2 x	9.38 x	8.9 x
Yield	-	-	3.45%	3.13%	3.23%	5.56%	5.81%
Capitalization / Revenue	2.82 x	2.55 x	1.79 x	2.09 x	2.1 x	2.06 x	2.03 x
EV / Revenue	2.82 x	2.55 x	1.79 x	2.09 x	2.1 x	2.06 x	2.03 x
EV / EBITDA	-	7.56 x	5.03 x	5.88 x	5.19 x	4.9 x	4.67 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	1.79 x	1.7 x	1.12 x	1.21 x	1.15 x	1.07 x	1 x
Nbr of stocks (in thousands)	1,678,268	1,678,268	1,678,268	1,678,268	1,677,210	-	-
Reference price ²	8.280	8.920	6.430	7.510	7.740	7.740	7.740
Announcement Date	3/30/21	2/14/22	3/30/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,929	5,874	6,023	6,027	6,195	6,288	6,381
EBITDA ¹	-	1,981	2,144	2,143	2,501	2,647	2,782
EBIT ¹	854.6	1,421	1,326	1,359	1,579	1,706	1,817
Operating Margin	17.34%	24.2%	22.02%	22.56%	25.49%	27.13%	28.47%
Earnings before Tax (EBT) ¹	857.4	1,428	1,332	1,361	1,486	1,611	1,710
Net income ¹	720.9	1,238	1,139	1,166	1,279	1,386	1,464
Net margin	14.62%	21.08%	18.91%	19.34%	20.65%	22.04%	22.94%
EPS ²	0.4700	0.7400	0.6800	0.6900	0.7600	0.8250	0.8700
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	-	0.2220	0.2350	0.2500	0.4300	0.4500
Announcement Date	3/30/21	2/14/22	3/30/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	11.3%	15%	12.5%	11.7%	11.5%	11.6%	11.5%
ROA (Net income/ Total Assets)	4.33%	6.14%	4.82%	4.77%	4.87%	5.45%	5.25%
Assets ¹	16,664	20,152	23,613	24,448	26,263	25,431	27,886
Book Value Per Share ²	4.630	5.250	5.740	6.230	6.730	7.240	7.760
Cash Flow per Share ²	0.6400	1.100	1.160	1.410	1.310	1.350	1.530
Capex ¹	2,600	2,696	1,681	1,800	1,125	1,049	1,016
Capex / Sales	52.75%	45.9%	27.91%	29.87%	18.16%	16.68%	15.93%
Announcement Date	3/30/21	2/14/22	3/30/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

7.74 CNY

Average target price

10.2 CNY

Spread / Average Target

+31.72%

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