Financials Dajin Heavy Industry Co.,Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
19.25 ^CNY	+2.28%		+0.52%	-27.69%

Apr. 26	Dajin Heavy Industry Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
2023	Dajin Heavy Bags 1.3 Billion Yuan Offshore Wind Power Project	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	3,020	5,051	21,532	22,988	12,277	12,277	-
Enterprise Value (EV) ¹	3,020	5,051	21,532	22,988	16,977	12,277	12,277
P/E ratio	17.2 x	10.8 x	37.3 x	51.7 x	39.7 x	11.7 x	8.32 x
Yield	-	-	-	0.07%	0.68%	0.1%	0.16%
Capitalization / Revenue	1.79 x	1.52 x	4.86 x	4.5 x	3.93 x	1.4 x	1.08 x
EV / Revenue	1.79 x	1.52 x	4.86 x	4.5 x	3.93 x	1.4 x	1.08 x
EV / EBITDA	-	8.59 x	29.6 x	39.1 x	30.2 x	8 x	6 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	-	2.1 x	7.18 x	3.53 x	2.46 x	1.49 x	1.27 x
Nbr of stocks (in thousands)	555,090	555,718	555,664	555,661	637,749	637,749	-
Reference price ²	5.440	9.090	38.75	41.37	19.25	19.25	19.25
Announcement Date	4/27/20	4/13/21	4/27/22	4/28/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	1,687	3,325	4,432	5,106	4,325	8,791	11,420
EBITDA ¹	-	587.7	727.6	587.5	561.9	1,534	2,047
EBIT ¹	-	550.2	673.3	523	476.8	1,233	1,727
Operating Margin	-	16.54%	15.19%	10.24%	11.02%	14.02%	15.12%
Earnings before Tax (EBT) ¹	-	548.2	674.4	523.9	484.7	1,233	1,728
Net income ¹	-	465	577.4	450.3	425.2	1,054	1,476
Net margin	-	13.98%	13.03%	8.82%	9.83%	11.99%	12.92%
EPS ²	0.3164	0.8400	1.040	0.8000	0.6700	1.650	2.313
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.0280	0.1820	0.0200	0.0300
Announcement Date	4/27/20	4/13/21	4/27/22	4/28/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	20.9%	21.4%	12.9%	6.32%	12.7%	15.1%
ROA (Net income/ Total Assets)	-	-	-	5.03%	6.62%	7.8%	8.54%
Assets ¹	-	-	-	8,955	10,738	13,508	17,283
Book Value Per Share ²	-	4.340	5.400	11.70	10.80	12.90	15.20
Cash Flow per Share ²	-	0.0300	0.0400	0.2000	1.270	1.370	2.030
Capex ¹	-	140	219	-	413	690	860
Capex / Sales	-	4.21%	4.95%	-	9.56%	7.85%	7.53%
Announcement Date	4/27/20	4/13/21	4/27/22	4/28/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

19.25 CNY

Average target price

26.35 CNY

Spread / Average Target

+36.88%

	1st Jan change	Capi.
DAJIN HEAVY INDUSTRY CO.,LTD.	-27.69%	1.69B
VESTAS WIND SYSTEMS A/S	-14.35%	26.45B
SUZLON ENERGY LIMITED	+9.03%	6.8B
SANY RENEWABLE ENERGY CO.,LTD.	-1.50%	4.68B
GOLDWIND SCIENCE AND TECHNOLOGY CO., LTD.	-7.12%	3.85B
INOX WIND LIMITED	+28.18%	2.5B
TITAN WIND ENERGY (SUZHOU) CO.,LTD	-18.97%	2.33B
CENTURY WIND POWER CO., LTD.	+46.53%	1.59B
CS WIND CORPORATION	-28.77%	1.5B
JIANGSU HAILI WIND POWER EQUIPMENT TECHNOLOGY CO., LTD.	-25.66%	1.32B