Financials Guangxi Fenglin Wood Industry Group Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
2.21 ^CNY	-1.34%		+1.38%	-22.46%

Apr. 25	Guangxi Fenglin Wood Industry Group Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Mar. 26	Guangxi Fenglin Wood Industry Group Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,242	3,437	3,687	3,026	3,195	2,477	-	-
Enterprise Value (EV) ¹	3,242	3,437	3,687	3,026	3,195	2,477	2,477	2,477
P/E ratio	18.9 x	20 x	21.9 x	67.5 x	57 x	27.6 x	22.1 x	18.4 x
Yield	2.12%	-	-	-	-	-	-	-
Capitalization / Revenue	1.67 x	1.97 x	-	1.47 x	1.37 x	0.94 x	0.83 x	0.75 x
EV / Revenue	1.67 x	1.97 x	-	1.47 x	1.37 x	0.94 x	0.83 x	0.75 x
EV / EBITDA	11.1 x	11.7 x	-	16.4 x	13.4 x	10 x	8.67 x	7.61 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.16 x	1.19 x	-	1.1 x	1.14 x	0.86 x	0.82 x	0.79 x
Nbr of stocks (in thousands)	1,145,737	1,145,623	1,124,205	1,120,914	1,120,914	1,120,914	-	-
Reference price ²	2.830	3.000	3.280	2.700	2.850	2.210	2.210	2.210
Announcement Date	2/18/20	1/29/21	3/29/22	3/1/23	3/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,943	1,740	-	2,053	2,340	2,643	2,973	3,316
EBITDA ¹	292	294.9	-	184.6	238.9	246.9	285.7	325.7
EBIT ¹	175.2	174.6	-	44.34	54.03	94.63	113.9	135.4
Operating Margin	9.02%	10.03%	-	2.16%	2.31%	3.58%	3.83%	4.08%
Earnings before Tax (EBT) ¹	172.3	172.7	-	40.93	52.43	93.03	112.3	133.8
Net income ¹	170	172.5	167.6	45.36	52.28	91.64	110.6	131.8
Net margin	8.75%	9.91%	-	2.21%	2.23%	3.47%	3.72%	3.97%
EPS ²	0.1500	0.1500	0.1500	0.0400	0.0500	0.0800	0.1000	0.1200
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	0.0600	-	-	-	-	-	-	-
Announcement Date	2/18/20	1/29/21	3/29/22	3/1/23	3/26/24	-	-	-

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)	6.28%	6.07%	-	1.61%	1.84%	3.11%	3.62%	4.13%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	2.430	2.530	-	2.450	2.500	2.580	2.680	2.790
Cash Flow per Share ²	0.0800	0.1500	-	0.1800	0.3600	0.1100	0.2700	0.1700
Capex ¹	118	172	-	230	71	216	236	254
Capex / Sales	6.09%	9.9%	-	11.21%	3.04%	8.17%	7.95%	7.66%
Announcement Date	2/18/20	1/29/21	3/29/22	3/1/23	3/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2.21 CNY

Average target price

3.04 CNY

Spread / Average Target

+37.56%

	1st Jan change	Capi.
GUANGXI FENGLIN WOOD INDUSTRY GROUP CO.,LTD	-22.46%	342M
UFP INDUSTRIES, INC.	-9.49%	6.99B
GROUP OF COMPANIES SEGEZHA	-.--%	1.39B
CANFOR CORPORATION	-20.28%	1.23B
GREENLAM INDUSTRIES LIMITED	+13.58%	927M
ZHONGFU STRAITS (PINGTAN) DEVELOPMENT COMPANY LIMITED	-24.11%	512M
NATURE WOOD GROUP LIMITED	-36.94%	83.51M
JAYA TIASA HOLDINGS	+41.76%	262M
FUJIAN JINSEN FORESTRY CO.,LTD	-34.96%	261M
TAIGA BUILDING PRODUCTS LTD.	+18.25%	266M