Financials Chongqing Water Group Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
5.08 ^CNY	+0.20%		+0.40%	-10.41%

Apr. 29	Chongqing Water Group's Q1 Profit Falls 36%	MT
Apr. 26	Chongqing Water Group Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	26,880	24,576	30,768	24,624	27,216	24,384	-	-
Enterprise Value (EV) ¹	26,880	24,576	30,768	24,624	27,216	24,384	24,384	24,384
P/E ratio	16 x	13.8 x	14.9 x	12.8 x	24.7 x	20.3 x	18.8 x	16.9 x
Yield	4.59%	4.98%	4.01%	-	-	-	-	-
Capitalization / Revenue	4.77 x	3.87 x	4.24 x	-	3.75 x	3.1 x	2.86 x	2.66 x
EV / Revenue	4.77 x	3.87 x	4.24 x	-	3.75 x	3.1 x	2.86 x	2.66 x
EV / EBITDA	10.1 x	7.88 x	8.3 x	-	9.25 x	7.49 x	6.87 x	6.49 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.77 x	1.58 x	1.87 x	-	1.61 x	1.41 x	1.37 x	1.34 x
Nbr of stocks (in thousands)	4,800,000	4,800,000	4,800,000	4,800,000	4,800,000	4,800,000	-	-
Reference price ²	5.600	5.120	6.410	5.130	5.670	5.080	5.080	5.080
Announcement Date	4/1/20	4/1/21	4/1/22	4/1/23	4/2/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	5,639	6,350	7,252	-	7,254	7,876	8,531	9,184
EBITDA ¹	2,670	3,118	3,705	-	2,941	3,257	3,550	3,758
EBIT ¹	1,730	2,021	2,405	-	1,218	1,349	1,489	1,616
Operating Margin	30.68%	31.83%	33.16%	-	16.79%	17.13%	17.45%	17.6%
Earnings before Tax (EBT) ¹	1,781	2,084	2,469	-	1,299	1,430	1,570	1,697
Net income ¹	1,665	1,774	2,078	1,909	1,089	1,198	1,315	1,422
Net margin	29.53%	27.93%	28.65%	-	15.01%	15.21%	15.41%	15.48%
EPS ²	0.3500	0.3700	0.4300	0.4000	0.2300	0.2500	0.2700	0.3000
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	0.2570	0.2550	0.2570	-	-	-	-	-
Announcement Date	4/1/20	4/1/21	4/1/22	4/1/23	4/2/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	11.4%	11.6%	13.2%	-	6.16%	6.99%	7.5%	7.91%
ROA (Net income/ Total Assets)	7.99%	7.62%	7.73%	-	-	-	-	-
Assets ¹	20,840	23,280	26,889	-	-	-	-	-
Book Value Per Share ²	3.160	3.230	3.420	-	3.530	3.610	3.700	3.790
Cash Flow per Share ²	0.4700	0.4800	0.5700	-	0.5200	0.5900	0.6600	0.6800
Capex ¹	2,422	2,102	3,468	-	3,547	2,115	2,253	2,300
Capex / Sales	42.95%	33.11%	47.82%	-	48.9%	26.85%	26.41%	25.04%
Announcement Date	4/1/20	4/1/21	4/1/22	4/1/23	4/2/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5.08 CNY

Average target price

7.33 CNY

Spread / Average Target

+44.29%

	1st Jan change	Capi.
CHONGQING WATER GROUP CO.,LTD.	-10.41%	3.37B
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WUHAN SANZHEN INDUSTRY HOLDING CO.,LTD	-8.57%	607M
SUNTAR ENVIRONMENTAL TECHNOLOGY CO., LTD.	-6.24%	579M
WUHAN TIANYUAN ENVIRONMENTAL PROTECTION CO.,LTD	-14.10%	548M
SHANGHAI EMPEROR OF CLEANING HI-TECH CO., LTD	+11.70%	576M
GUANGXI NANNING WATERWORKS CO.,LTD.	-18.32%	533M
CEC ENVIRONMENTAL PROTECTION CO.,LTD	+5.96%	532M
HEILONGJIANG INTERCHINA WATER TREATMENT CO.,LTD	-13.64%	508M