Stock 603444 G-BITS NETWORK TECHNOLOGY (XIAMEN) CO., LTD.
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Financials G-bits Network Technology (Xiamen) Co., Ltd.

Equities

603444

CNE100002GK7

Internet Services

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-28 pm EDT 		5-day change 1st Jan Change
196.3 CNY +6.28% Intraday chart for G-bits Network Technology (Xiamen) Co., Ltd. +14.75% -19.92%
Apr. 25 Jefferies Adjusts G-bits Network Technology’s Price Target to 226 Yuan From 290 Yuan, Keeps at Buy MT
Apr. 23 G-bits Network Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 21,456 30,614 30,316 22,483 17,659 14,142 - -
Enterprise Value (EV) 1 20,716 28,506 27,415 19,858 15,272 11,323 10,094 10,015
P/E ratio 26.5 x 29.2 x 20.6 x 15.4 x 15.7 x 13.8 x 10.5 x 9.96 x
Yield 1.68% 2.82% 3.79% 0.96% 2.86% 3.98% 5.23% 5.86%
Capitalization / Revenue 9.89 x 11.2 x 6.56 x 4.35 x 4.22 x 3.55 x 2.94 x 2.79 x
EV / Revenue 9.54 x 10.4 x 5.94 x 3.84 x 3.65 x 2.84 x 2.1 x 1.97 x
EV / EBITDA 16.3 x 16.9 x 12.5 x 8.82 x 8.42 x 7.46 x 5.14 x 4.87 x
EV / FCF - - 11.4 x 11.6 x 13.5 x 8.05 x 5.54 x 4.86 x
FCF Yield - - 8.75% 8.61% 7.4% 12.4% 18% 20.6%
Price to Book 6.99 x 8.05 x 6.62 x 5.65 x 3.96 x 2.74 x 2.45 x 2.4 x
Nbr of stocks (in thousands) 71,882 71,865 71,865 71,866 72,041 72,041 - -
Reference price 2 298.5 426.0 421.8 312.8 245.1 196.3 196.3 196.3
Announcement Date 4/8/20 3/30/21 4/7/22 3/30/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,170 2,742 4,619 5,168 4,185 3,981 4,808 5,072
EBITDA 1 1,275 1,687 2,198 2,250 1,814 1,517 1,965 2,057
EBIT 1 1,230 1,562 2,132 2,321 1,706 1,506 1,923 2,066
Operating Margin 56.68% 56.98% 46.15% 44.91% 40.77% 37.84% 40% 40.74%
Earnings before Tax (EBT) 1 1,230 1,558 2,125 2,315 1,700 1,692 2,039 2,149
Net income 1 809.2 1,046 1,468 1,461 1,125 1,026 1,352 1,493
Net margin 37.28% 38.16% 31.79% 28.27% 26.89% 25.78% 28.12% 29.43%
EPS 2 11.28 14.58 20.43 20.33 15.63 14.22 18.62 19.72
Free Cash Flow 1 - - 2,399 1,709 1,130 1,406 1,821 2,062
FCF margin - - 51.94% 33.07% 27% 35.32% 37.88% 40.65%
FCF Conversion (EBITDA) - - 109.13% 75.94% 62.27% 92.67% 92.69% 100.25%
FCF Conversion (Net income) - - 163.37% 116.97% 100.42% 137.01% 134.71% 138.14%
Dividend per Share 2 5.000 12.00 16.00 3.000 7.000 7.803 10.27 11.51
Announcement Date 4/8/20 3/30/21 4/7/22 3/30/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 1,134 1,229 1,281 2,511 1,319 1,338 1,144 1,205 957.8 878.1 927.3 964.7 974.6 1,011
EBITDA - - - - - - - - - - - - - -
EBIT 1 399.2 - 583.8 - 538.8 643.8 457.3 625.2 321.1 302.6 350.1 382.5 332.6 395.4
Operating Margin 35.21% - 45.56% - 40.84% 48.13% 39.96% 51.9% 33.52% 34.46% 37.76% 39.65% 34.13% 39.11%
Earnings before Tax (EBT) 397.6 - 583.5 - 536.8 641.6 - 624.7 317.6 301 - - - -
Net income 263 349.7 338.7 688.3 323.4 449.1 306.6 405.4 183.3 265.8 253.4 - - -
Net margin 23.2% 28.44% 26.43% 27.42% 24.51% 33.58% 26.79% 33.66% 19.14% 30.27% 27.32% - - -
EPS 2 3.660 4.870 4.710 - 4.500 6.250 4.270 5.120 2.540 3.700 3.520 3.890 3.300 4.050
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 4/7/22 4/22/22 8/15/22 8/15/22 10/26/22 3/30/23 4/26/23 8/15/23 10/24/23 3/28/24 4/23/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 741 2,108 2,901 2,624 2,386 2,818 4,047 4,127
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - 2,399 1,709 1,130 1,406 1,821 2,062
ROE (net income / shareholders' equity) 28.1% 31% 36% 32.5% 26% 20.8% 23.5% 24.1%
ROA (Net income/ Total Assets) 19.3% 21.5% 23.5% 21.5% 17.1% 15.7% 15.6% 15.8%
Assets 1 4,189 4,878 6,245 6,797 6,564 6,533 8,654 9,462
Book Value Per Share 2 42.70 52.90 63.70 55.40 62.00 71.60 80.10 81.90
Cash Flow per Share 2 18.00 21.30 33.70 24.40 16.50 20.90 23.50 24.50
Capex 1 58.5 69.4 19.3 43.5 55.7 54.3 53 52.9
Capex / Sales 2.7% 2.53% 0.42% 0.84% 1.33% 1.36% 1.1% 1.04%
Announcement Date 4/8/20 3/30/21 4/7/22 3/30/23 3/28/24 - - -
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 G-bits Network Technology (Xiamen) Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
196.3 CNY
Average target price
243 CNY
Spread / Average Target
+23.79%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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