Financials Guangxi LiuYao Group Co., Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
22.79 ^CNY	-0.04%		-0.44%	+20.45%

Apr. 25	Guangxi LiuYao Group Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 22	Guangxi Liuyao Gets Shanghai Bourse's Nod to Issue Shares	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,653	7,769	6,888	6,763	6,808	9,039	-	-
Enterprise Value (EV) ¹	8,990	7,906	6,888	6,763	6,808	9,039	9,039	9,039
P/E ratio	12.6 x	10.9 x	12.2 x	9.62 x	8.05 x	8.08 x	6.75 x	5.52 x
Yield	2.02%	2.79%	-	-	-	-	-	-
Capitalization / Revenue	0.58 x	0.5 x	0.4 x	0.35 x	0.33 x	0.39 x	0.35 x	0.32 x
EV / Revenue	0.58 x	0.5 x	0.4 x	0.35 x	0.33 x	0.39 x	0.35 x	0.32 x
EV / EBITDA	8.85 x	7.71 x	6.47 x	6.61 x	5.8 x	5.39 x	4.62 x	3.93 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.99 x	1.54 x	1.26 x	1.16 x	1.06 x	1.11 x	0.99 x	0.86 x
Nbr of stocks (in thousands)	360,103	360,691	361,740	362,228	359,813	396,620	-	-
Reference price ²	24.03	21.54	19.04	18.67	18.92	22.79	22.79	22.79
Announcement Date	4/22/20	2/24/21	3/30/22	2/27/23	3/20/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	14,857	15,670	17,135	19,053	20,812	23,173	25,780	28,330
EBITDA ¹	977.8	1,008	1,064	1,024	1,175	1,676	1,955	2,300
EBIT ¹	896.6	896.6	753.1	890.1	1,044	1,254	1,568	1,839
Operating Margin	6.03%	5.72%	4.4%	4.67%	5.01%	5.41%	6.08%	6.49%
Earnings before Tax (EBT) ¹	904.6	918.2	754.7	890.4	1,043	1,254	1,566	1,839
Net income ¹	685.4	715.8	563.8	701.5	849.6	1,021	1,222	1,498
Net margin	4.61%	4.57%	3.29%	3.68%	4.08%	4.41%	4.74%	5.29%
EPS ²	1.900	1.970	1.560	1.940	2.350	2.820	3.375	4.130
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	0.4857	0.6000	-	-	-	-	-	-
Announcement Date	4/22/20	2/24/21	3/30/22	2/27/23	3/20/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	337	137	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.3451 x	0.1361 x	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	16.9%	15.4%	10.7%	12.3%	13.5%	13.7%	14.6%	15.6%
ROA (Net income/ Total Assets)	6.31%	5.21%	-	-	-	-	-	-
Assets ¹	10,866	13,745	-	-	-	-	-	-
Book Value Per Share ²	12.10	14.00	15.10	16.10	17.80	20.50	23.10	26.40
Cash Flow per Share ²	1.140	1.830	0.9200	1.400	1.640	2.510	2.610	3.810
Capex ¹	231	250	264	183	173	193	214	235
Capex / Sales	1.55%	1.59%	1.54%	0.96%	0.83%	0.83%	0.83%	0.83%
Announcement Date	4/22/20	2/24/21	3/30/22	2/27/23	3/20/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

22.79 CNY

Average target price

31.29 CNY

Spread / Average Target

+37.30%

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