Financials Henan Mingtai Al.Industrial 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
12.75 ^CNY	+0.24%		-1.85%	+12.43%

Apr. 26	Henan Mingtai Al.Industrial Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Mar. 05	Mingtai Aluminum Industrial Sells 106,000 Tons of Aluminum Sheets With Foil in February	MT

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	5,186	7,106	8,715	30,089	17,520	15,857	15,857	-
Enterprise Value (EV) ¹	5,186	7,106	8,715	30,089	17,520	13,523	15,857	15,857
P/E ratio	10.5 x	7.64 x	9.89 x	16.6 x	12.1 x	8.66 x	7.5 x	6.62 x
Yield	-	-	1.41%	0.64%	0.92%	1.15%	2%	2.31%
Capitalization / Revenue	0.39 x	0.5 x	0.53 x	1.22 x	0.63 x	0.51 x	0.45 x	0.39 x
EV / Revenue	0.39 x	0.5 x	0.53 x	1.22 x	0.63 x	0.51 x	0.45 x	0.39 x
EV / EBITDA	5.65 x	4.66 x	-	11.5 x	7.14 x	6.38 x	5.92 x	5.19 x
EV / FCF	-	-	-	-	-17,120,574 x	-	-	-
FCF Yield	-	-	-	-	-0%	-	-	-
Price to Book	0.87 x	1.01 x	1.11 x	2.82 x	1.46 x	0.86 x	0.88 x	0.79 x
Nbr of stocks (in thousands)	825,978	862,795	862,823	955,436	965,828	1,243,704	1,243,704	-
Reference price ²	6.279	8.236	10.10	31.49	18.14	12.75	12.75	12.75
Announcement Date	2/18/19	4/28/20	3/29/21	3/18/22	4/20/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	13,322	14,148	16,333	24,613	27,781	26,442	35,329	40,480
EBITDA ¹	917.6	1,523	-	2,606	2,452	2,121	2,680	3,056
EBIT ¹	648.4	1,214	1,304	2,173	1,954	1,460	2,365	2,674
Operating Margin	4.87%	8.58%	7.98%	8.83%	7.03%	5.52%	6.69%	6.61%
Earnings before Tax (EBT) ¹	654.2	1,212	1,301	2,142	1,950	1,459	2,358	2,666
Net income ¹	495.6	917	1,070	1,852	1,599	1,347	1,943	2,199
Net margin	3.72%	6.48%	6.55%	7.52%	5.75%	5.1%	5.5%	5.43%
EPS ²	0.6000	1.079	1.021	1.893	1.500	1.310	1.700	1.927
Free Cash Flow	-	-	-	-	-1,023	-	-	-
FCF margin	-	-	-	-	-3.68%	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	0.1429	0.2000	0.1660	0.1300	0.2550	0.2950
Announcement Date	2/18/19	4/28/20	3/29/21	3/18/22	4/20/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-1,023	-	-	-
ROE (net income / shareholders' equity)	8.71%	14%	14%	16.5%	14%	10.5%	11.6%	11.8%
ROA (Net income/ Total Assets)	-	-	8.72%	10%	-	7.9%	8.5%	8.75%
Assets ¹	-	-	12,271	18,456	-	21,245	22,860	25,135
Book Value Per Share ²	7.190	8.160	9.130	11.20	12.40	13.10	14.50	16.20
Cash Flow per Share ²	0.0400	-0.1900	0.9500	2.160	-0.8800	0.5600	0.8500	2.830
Capex ¹	-	-	355	399	167	213	1,004	973
Capex / Sales	-	-	2.17%	1.62%	0.6%	0.8%	2.84%	2.4%
Announcement Date	2/18/19	4/28/20	3/29/21	3/18/22	4/20/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12.75 CNY

Average target price

13.78 CNY

Spread / Average Target

+8.08%

	1st Jan change	Capi.
HENAN MINGTAI AL.INDUSTRIAL CO.,LTD.	+12.43%	2.19B
GUANGDONG HEC TECHNOLOGY HOLDING CO., LTD	+21.42%	3.65B
SHANGHAI HUAFON ALUMINIUM CORPORATION	+10.70%	2.74B
UACJ CORPORATION	+20.91%	1.43B
SHANDONG HONTRON ALUMINUM INDUSTRY HOLDING COMPANY LIMITED	+7.05%	762M
ANHUI XINBO ALUMINUM CO., LTD.	-17.32%	699M
ZYF LOPSKING ALUMINUM CO., LTD.	-6.89%	566M
JIANGSU ALCHA ALUMINIUM GROUP CO., LTD.	-14.08%	513M
NANTONG HAIXING ELECTRONICS CO., LTD.	-19.74%	388M
BORYSZEW S.A.	-0.81%	310M