Financials Guangdong Topstar Technology Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
13.59 ^CNY	-0.29%		+0.44%	-13.27%

Apr. 21	Guangdong Topstar Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 01	Tranche Update on Guangdong Topstar Technology Co., Ltd.'s Equity Buyback Plan announced on November 3, 2023.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,071	9,249	6,823	6,190	6,624	5,728	-	-
Enterprise Value (EV) ¹	7,071	9,249	6,823	6,190	6,624	5,728	5,728	5,728
P/E ratio	33.9 x	17.9 x	107 x	39.3 x	74.6 x	34.8 x	24.3 x	16.2 x
Yield	0.73%	1.01%	0.16%	0.49%	0.27%	0.44%	0.59%	-
Capitalization / Revenue	4.26 x	3.36 x	2.07 x	1.24 x	1.45 x	1.34 x	1.22 x	1.04 x
EV / Revenue	4.26 x	3.36 x	2.07 x	1.24 x	1.45 x	1.34 x	1.22 x	1.04 x
EV / EBITDA	29.3 x	14.7 x	58.9 x	27.1 x	36.8 x	16.7 x	12.5 x	8.92 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	4.23 x	4.3 x	3.2 x	2.73 x	2.85 x	2.25 x	2.08 x	1.84 x
Nbr of stocks (in thousands)	426,051	425,869	426,464	425,419	422,701	421,500	-	-
Reference price ²	16.60	21.72	16.00	14.55	15.67	13.59	13.59	13.59
Announcement Date	2/26/20	4/22/21	4/26/22	4/24/23	4/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,660	2,755	3,293	4,984	4,553	4,280	4,676	5,486
EBITDA ¹	241.3	627.5	115.9	228.5	180.1	343.6	459.1	642.3
EBIT ¹	221.7	606.4	75.04	192.3	126.7	230.1	325.2	506.5
Operating Margin	13.35%	22.01%	2.28%	3.86%	2.78%	5.38%	6.95%	9.23%
Earnings before Tax (EBT) ¹	221	609.2	78.71	191.9	124.3	229.6	324.7	505.5
Net income ¹	186.6	519.7	65.4	159.7	88.03	166.2	238.6	358
Net margin	11.24%	18.86%	1.99%	3.2%	1.93%	3.88%	5.1%	6.53%
EPS ²	0.4896	1.212	0.1500	0.3700	0.2100	0.3900	0.5600	0.8400
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1215	0.2200	0.0250	0.0710	0.0430	0.0600	0.0800	-
Announcement Date	2/26/20	4/22/21	4/26/22	4/24/23	4/21/24	-	-	-

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)	18.1%	27.2%	2.98%	7.03%	3.71%	7.05%	9.32%	12.7%
ROA (Net income/ Total Assets)	8.53%	15.5%	1.27%	2.47%	-	2.1%	2.8%	-
Assets ¹	2,188	3,349	5,155	6,466	-	7,912	8,522	-
Book Value Per Share ²	3.930	5.050	5.000	5.330	5.490	6.040	6.540	7.370
Cash Flow per Share ²	0.2900	2.360	-0.7700	0.3300	0.4600	0.0600	0.5200	0.7400
Capex ¹	40.7	177	247	320	187	87.9	144	168
Capex / Sales	2.45%	6.43%	7.51%	6.42%	4.11%	2.05%	3.08%	3.06%
Announcement Date	2/26/20	4/22/21	4/26/22	4/24/23	4/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.59 CNY

Average target price

14.44 CNY

Spread / Average Target

+6.25%

	1st Jan change	Capi.
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