Financials Guangdong Huate Gas Co., Ltd

Equities

688268

CNE100005X64

Commodity Chemicals

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
51.92 ^CNY	-3.10%		+0.35%	-22.94%

Apr. 25	Guangdong Huate Gas Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 10	Guangdong Huate Gas Co., Ltd announced that it expects to receive CNY 300 million in funding	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,262	7,369	10,824	8,931	8,108	6,224	-	-
Enterprise Value (EV) ¹	5,262	7,369	10,824	8,931	8,020	6,240	6,378	6,389
P/E ratio	72.5 x	69 x	83.5 x	43.2 x	49.2 x	26 x	19.5 x	15.5 x
Yield	-	0.49%	0.39%	0.54%	0.74%	1.13%	1.5%	1.88%
Capitalization / Revenue	6.23 x	7.37 x	8.03 x	4.95 x	5.4 x	3.23 x	2.66 x	2.2 x
EV / Revenue	6.23 x	7.37 x	8.03 x	4.95 x	5.35 x	3.24 x	2.73 x	2.26 x
EV / EBITDA	44.2 x	-	55.9 x	29 x	28 x	15.8 x	12.6 x	10.5 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	4.4 x	5.79 x	7.84 x	5.79 x	4.46 x	3.11 x	2.78 x	2.41 x
Nbr of stocks (in thousands)	120,000	120,000	120,000	120,278	120,336	119,883	-	-
Reference price ²	43.85	61.41	90.20	74.25	67.38	51.92	51.92	51.92
Announcement Date	2/26/20	2/24/21	2/24/22	2/23/23	2/23/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	844	999.6	1,347	1,803	1,500	1,929	2,341	2,829
EBITDA ¹	119.1	-	193.8	307.9	286	394.8	507.6	607.4
EBIT ¹	84.04	117.2	144.3	243.8	197.8	289.4	386.1	490.3
Operating Margin	9.96%	11.72%	10.71%	13.52%	13.19%	15.01%	16.5%	17.33%
Earnings before Tax (EBT) ¹	85.61	124.4	148.5	242.6	198.5	286.1	381.9	482.8
Net income ¹	72.59	106.5	129.3	206.2	164.7	240.6	321.1	404.3
Net margin	8.6%	10.65%	9.6%	11.44%	10.98%	12.47%	13.72%	14.3%
EPS ²	0.6050	0.8900	1.080	1.720	1.370	1.998	2.667	3.359
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	0.3000	0.3500	0.4000	0.5000	0.5850	0.7798	0.9772
Announcement Date	2/26/20	2/24/21	2/24/22	2/23/23	2/23/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	-	388.6	371	332.7	491.8	541	506.7	-	-
EBITDA ¹	-	-	-	-	103.3	106.7	110	-	-
EBIT ¹	-	57.43	52.7	53.47	77.23	84.95	79.57	-	-
Operating Margin	-	14.78%	14.2%	16.07%	15.7%	15.7%	15.7%	-	-
Earnings before Tax (EBT) ¹	-	57.33	52.97	53.67	70.09	77.82	72.44	-	-
Net income ¹	34.6	47	43.07	45.1	58.37	64.8	59.11	-	-
Net margin	-	12.09%	11.61%	13.56%	11.87%	11.98%	11.67%	-	-
EPS ²	0.2900	0.3900	0.3600	0.3800	0.4845	0.5378	0.4906	-	-
Dividend per Share ²	-	-	-	-	0.1687	0.1687	0.1687	0.2248	0.2248
Announcement Date	8/10/23	10/26/23	2/23/24	4/25/24	-	-	-	-	-

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	15.8	154	165
Net Cash position ¹	-	-	-	-	88.6	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	0.0401 x	0.3035 x	0.2714 x
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	12.4%	8.63%	9.65%	14.1%	9.79%	12.1%	14.6%	15.8%
ROA (Net income/ Total Assets)	6.68%	7.33%	7.84%	9.64%	-	7.18%	8.84%	9.75%
Assets ¹	1,086	1,452	1,650	2,139	-	3,349	3,633	4,147
Book Value Per Share ²	9.960	10.60	11.50	12.80	15.10	16.70	18.70	21.60
Cash Flow per Share ²	0.6200	0.9000	0.1300	2.680	1.410	2.530	2.920	3.420
Capex ¹	42.9	87.5	207	227	235	214	210	199
Capex / Sales	5.08%	8.75%	15.33%	12.61%	15.65%	11.1%	8.95%	7.03%
Announcement Date	2/26/20	2/24/21	2/24/22	2/23/23	2/23/24	-	-	-

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 Guangdong Huate Gas Co., Ltd

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

51.92 CNY

Average target price

61.03 CNY

Spread / Average Target

+17.54%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Industrial Gas