Financials Guoguang Electric Company Limited

Equities

002045

CNE000001LW5

Household Electronics

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
12.96 ^CNY	+2.05%		+6.40%	-22.16%

Apr. 26	Guoguang Electric Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Feb. 26	Guoguang Electric Company Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Capitalization ¹	3,998	6,759	5,583	7,522	7,147	-
Enterprise Value (EV) ¹	3,998	6,759	5,583	7,522	7,147	7,147
P/E ratio	21.8 x	167 x	31 x	21.3 x	28.8 x	17.1 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	0.94 x	-	0.93 x	1.27 x	0.95 x	0.72 x
EV / Revenue	0.94 x	-	0.93 x	1.27 x	0.95 x	0.72 x
EV / EBITDA	12.7 x	-	18.9 x	15.1 x	15.1 x	13.6 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	2 x	-	2.69 x	2.4 x	1.32 x	1.17 x
Nbr of stocks (in thousands)	458,480	450,630	450,630	451,783	551,502	-
Reference price ²	8.720	15.00	12.39	16.65	12.96	12.96
Announcement Date	3/16/21	4/27/22	4/11/23	2/27/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net sales ¹	4,254	-	5,994	5,933	7,498	9,900
EBITDA ¹	315.9	-	295.4	497.5	473	526
EBIT ¹	188.6	-	157.2	345.7	300	381.5
Operating Margin	4.43%	-	2.62%	5.83%	4%	3.85%
Earnings before Tax (EBT) ¹	199.4	-	162.7	350.2	300	384
Net income ¹	186.7	40.14	178.5	360.7	254	380.5
Net margin	4.39%	-	2.98%	6.08%	3.39%	3.84%
EPS ²	0.4000	0.0900	0.4000	0.7800	0.4500	0.7600
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	3/16/21	4/27/22	4/11/23	2/27/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 S1	2023 Q3	2023 Q4
Net sales ¹	-	-	1,609
EBITDA	-	-	-
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	-	-
Net income ¹	62.17	247.8	48.55
Net margin	-	-	3.02%
EPS	0.1400	0.5500	-
Dividend per Share	-	-	-
Announcement Date	8/26/22	10/27/23	2/27/24

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	9.48%	-	8.61%	14.3%	5.3%	7.59%
ROA (Net income/ Total Assets)	-	-	3.55%	-	3.2%	4.24%
Assets ¹	-	-	5,027	-	7,938	8,985
Book Value Per Share ²	4.350	-	4.610	6.950	9.820	11.10
Cash Flow per Share ²	1.140	-	0.1100	1.450	0.4700	0.2600
Capex ¹	-	-	141	204	139	156
Capex / Sales	-	-	2.35%	3.44%	1.85%	1.58%
Announcement Date	3/16/21	4/27/22	4/11/23	2/27/24	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Guoguang Electric Company Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12.96 CNY

Average target price

17.9 CNY

Spread / Average Target

+38.12%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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