Stock 002888 HIVI ACOUSTICS TECHNOLOGY CO., LTD
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Financials HiVi Acoustics Technology Co., Ltd

Equities

002888

CNE1000032H8

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
13.74 CNY +1.78% Intraday chart for HiVi Acoustics Technology Co., Ltd +7.26% -45.26%
Apr. 26 HiVi Acoustics Technology Co., Ltd Proposes Final Cash Dividend for the Year 2023 CI
Apr. 25 HiVi Acoustics Technology Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,316 2,710 2,081 1,960 1,831 3,691
Enterprise Value (EV) 1 2,089 2,469 1,834 1,813 1,647 3,520
P/E ratio 80.8 x 104 x 66.8 x 77.1 x -113 x -628 x
Yield 2.15% 0.92% 0.48% - - -
Capitalization / Revenue 8.69 x 9.86 x 7.84 x 6.77 x 8.09 x 16.6 x
EV / Revenue 7.84 x 8.98 x 6.9 x 6.26 x 7.28 x 15.8 x
EV / EBITDA 82.3 x 80 x 53.1 x 51.3 x -219 x 250 x
EV / FCF -79.9 x 51.6 x 125 x -19.3 x 26.6 x 764 x
FCF Yield -1.25% 1.94% 0.8% -5.18% 3.76% 0.13%
Price to Book 5.2 x 6.43 x 4.87 x 4.5 x 4.6 x 7.12 x
Nbr of stocks (in thousands) 149,612 149,612 149,612 149,612 147,045 147,045
Reference price 2 15.48 18.12 13.91 13.10 12.45 25.10
Announcement Date 3/29/19 4/14/20 4/27/21 4/27/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 266.6 274.8 265.6 289.5 226.3 223
EBITDA 1 25.39 30.86 34.56 35.31 -7.535 14.06
EBIT 1 12.5 17.11 22.94 22.37 -21.94 0.9558
Operating Margin 4.69% 6.23% 8.64% 7.73% -9.7% 0.43%
Earnings before Tax (EBT) 1 30.73 28.69 36.2 29.55 -16.77 -6.942
Net income 1 28.23 26.16 30.63 25.95 -14.63 -5.506
Net margin 10.59% 9.52% 11.53% 8.97% -6.46% -2.47%
EPS 2 0.1917 0.1750 0.2083 0.1700 -0.1100 -0.0400
Free Cash Flow 1 -26.14 47.86 14.67 -93.84 61.92 4.606
FCF margin -9.8% 17.42% 5.52% -32.42% 27.36% 2.07%
FCF Conversion (EBITDA) - 155.08% 42.45% - - 32.75%
FCF Conversion (Net income) - 182.95% 47.9% - - -
Dividend per Share 2 0.3333 0.1667 0.0667 - - -
Announcement Date 3/29/19 4/14/20 4/27/21 4/27/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 227 242 247 147 184 171
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -26.1 47.9 14.7 -93.8 61.9 4.61
ROE (net income / shareholders' equity) 6.42% 6.04% 7.22% 6.03% -3.52% -1.39%
ROA (Net income/ Total Assets) 1.6% 2.22% 2.96% 2.85% -2.88% 0.13%
Assets 1 1,759 1,176 1,036 911 507.4 -4,259
Book Value Per Share 2 2.980 2.820 2.860 2.910 2.710 3.530
Cash Flow per Share 2 0.5800 0.8800 0.7500 0.7200 0.6500 0.2400
Capex 1 14.8 6.37 7.47 63.8 5.03 21.1
Capex / Sales 5.54% 2.32% 2.81% 22.03% 2.22% 9.48%
Announcement Date 3/29/19 4/14/20 4/27/21 4/27/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Household Electronics

1st Jan change Capi.
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