Financials CMGE Technology Group Limited

Equities

302 KYG2347J1094

Internet Services

Market Closed - Hong Kong S.E. Other stock markets 04:08:20 2024-04-26 am EDT			5-day change	1st Jan Change
1.26 ^HKD	+6.78%		+24.75%	-3.82%

Apr. 12	CMGE Technology Group Limited commences an Equity Buyback Plan for 275,267,200 shares, representing 10% of its issued share capital, under the authorization approved on June 2, 2023.	CI
Mar. 27	CMGE Technology Group Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	6,476	5,831	6,992	4,376	3,209	3,209	-
Enterprise Value (EV) ¹	6,476	5,487	6,938	4,583	3,278	3,450	3,209
P/E ratio	21.1 x	7.76 x	11.1 x	-21.4 x	-163 x	8.01 x	4.32 x
Yield	1.13%	3.99%	-	-	3.43%	2.57%	4.29%
Capitalization / Revenue	2.13 x	1.53 x	1.77 x	1.61 x	1.26 x	1.04 x	0.59 x
EV / Revenue	2.13 x	1.44 x	1.75 x	1.69 x	1.26 x	1.12 x	0.59 x
EV / EBITDA	19.7 x	5.96 x	7.99 x	18.7 x	-4.57 x	8.52 x	3.43 x
EV / FCF	21.1 x	8.86 x	19.9 x	-287 x	7.6 x	10.4 x	16.6 x
FCF Yield	4.74%	11.3%	5.02%	-0.35%	13.2%	9.59%	6.01%
Price to Book	-	1.24 x	1.17 x	0.77 x	0.54 x	0.51 x	0.42 x
Nbr of stocks (in thousands)	2,330,150	2,510,150	2,768,050	2,752,672	2,751,636	2,751,636	-
Reference price ²	2.779	2.323	2.526	1.590	1.166	1.166	1.166
Announcement Date	3/26/20	3/24/21	3/31/22	3/22/23	3/27/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	3,036	3,820	3,957	2,714	2,606	3,075	5,468
EBITDA ¹	328.5	921.1	867.9	245.1	-717.1	405	936.2
EBIT ¹	254.9	816.9	711.4	151.9	-832.4	310	428
Operating Margin	8.39%	21.38%	17.98%	5.6%	-31.95%	10.08%	7.83%
Earnings before Tax (EBT) ¹	343.6	716.8	651.1	-175.5	-25.73	392	908.5
Net income ¹	248.3	701.3	611.8	-205	-20.08	382.4	668.6
Net margin	8.18%	18.36%	15.46%	-7.56%	-0.77%	12.44%	12.23%
EPS ²	0.1315	0.2992	0.2284	-0.0742	-0.007300	0.1456	0.2698
Free Cash Flow ¹	307.2	619.6	348.3	-15.95	454	331	193
FCF margin	10.12%	16.22%	8.8%	-0.59%	12.28%	10.77%	3.53%
FCF Conversion (EBITDA)	93.51%	67.26%	40.13%	-	78.3%	81.73%	20.62%
FCF Conversion (Net income)	123.71%	88.34%	56.93%	-	106.42%	86.55%	28.87%
Dividend per Share ²	0.0313	0.0928	-	-	0.0400	0.0300	0.0500
Announcement Date	3/26/20	3/24/21	3/31/22	3/22/23	3/27/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2020 S2	2021 S1	2021 S2	2023 S1	2023 S2
Net sales ¹	-	2,106	-	1,776	1,535	2,066
EBITDA	-	-	-	-	-	-
EBIT ¹	-	-	-	-	44.14	378
Operating Margin	-	-	-	-	2.87%	18.3%
Earnings before Tax (EBT) ¹	-	-	-	228.5	42.57	367
Net income ¹	287.7	-	393.5	218.2	56.82	333
Net margin	-	-	-	12.29%	3.7%	16.12%
EPS	0.1235	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	9/3/20	3/24/21	8/24/21	3/31/22	8/25/23	-

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	207	239	241	-
Net Cash position ¹	-	344	53.9	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	0.8455 x	0.4122 x	0.594 x	-
Free Cash Flow ¹	307	620	348	-16	454	331	193
ROE (net income / shareholders' equity)	22.8%	19.4%	11.7%	-3.58%	6.14%	6.32%	9.63%
ROA (Net income/ Total Assets)	14.9%	14%	8.63%	-2.73%	5.81%	3.7%	8.46%
Assets ¹	1,671	5,014	7,086	7,498	7,337	10,336	7,904
Book Value Per Share ²	-	1.870	2.160	2.050	2.170	2.310	2.750
Cash Flow per Share	-	-	0.1300	-0	-	-	-
Capex ¹	3.16	3.97	7.29	542	96	83.1	79.1
Capex / Sales	0.1%	0.1%	0.18%	19.98%	2.6%	2.7%	1.45%
Announcement Date	3/26/20	3/24/21	3/31/22	3/22/23	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

Ratings for CMGE Technology Group Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.166 CNY

Average target price

2.335 CNY

Spread / Average Target

+100.18%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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