Financials Huitongda Network Co., Ltd.

Equities

9878

CNE100005600

Department Stores

End-of-day quote Hong Kong S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
28.95 ^HKD	0.00%		0.00%	-4.77%

Apr. 15	Voyager Technology Inc. announced that it has received CNY 100 million in funding from BOCOM Capital Management Co., Ltd., Shanghai Royal Sea Capital Company Limited, Huitongda Network Co., Ltd., Lanzhou Xincheng Equity Investment Fund Management	CI
Mar. 29	Huitongda Network's Net Profit Jumps 42% in 2023	MT

Valuation

Fiscal Period: December	2022	2023	2024	2025
Capitalization ¹	20,073	14,983	14,983	-
Enterprise Value (EV) ¹	20,073	15,450	14,983	14,983
P/E ratio	62.6 x	34.5 x	24.9 x	20.4 x
Yield	-	-	-	-
Capitalization / Revenue	0.25 x	0.19 x	0.17 x	0.16 x
EV / Revenue	0.25 x	0.19 x	0.17 x	0.16 x
EV / EBITDA	27.4 x	17.8 x	14.8 x	12.1 x
EV / FCF	91.9 x	10.7 x	16.8 x	12.2 x
FCF Yield	1.09%	9.34%	5.95%	8.2%
Price to Book	1.71 x	1.76 x	1.78 x	1.63 x
Nbr of stocks (in thousands)	562,570	559,119	559,119	-
Reference price ²	35.68	26.80	26.80	26.80
Announcement Date	3/28/23	3/27/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net sales ¹	-	65,763	80,355	82,433	87,718	93,360
EBITDA ¹	-	-	732.3	867.8	1,012	1,236
EBIT ¹	-	638.7	663.1	794	996.6	1,244
Operating Margin	-	0.97%	0.83%	0.96%	1.14%	1.33%
Earnings before Tax (EBT) ¹	-	-76.12	603.1	797	1,024	1,282
Net income ¹	-405.3	-349.9	287.2	448.3	654.9	789.2
Net margin	-	-0.53%	0.36%	0.54%	0.75%	0.85%
EPS ²	-0.8300	-	0.5700	0.8000	1.075	1.315
Free Cash Flow ¹	-	792.5	218.4	1,400	892	1,229
FCF margin	-	1.21%	0.27%	1.58%	1.02%	1.32%
FCF Conversion (EBITDA)	-	-	29.83%	156.61%	88.16%	99.48%
FCF Conversion (Net income)	-	-	76.04%	282.33%	136.2%	155.77%
Dividend per Share ²	-	-	-	-	-	-
Announcement Date	1/31/22	3/30/22	3/28/23	3/27/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2
Net sales ¹	39,895	40,460	43,377	47,111	42,607	39,085
EBITDA	-	-	-	-	-	-
EBIT ¹	336	327.2	-	605	339	513
Operating Margin	0.84%	0.81%	-	1.28%	0.8%	1.31%
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income ¹	95.04	192.2	245.1	319	-	-
Net margin	0.24%	0.48%	0.57%	0.68%	-	-
EPS	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	8/23/22	3/28/23	8/28/23	-	-	-

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 ¹	-	793	218	1,400	892	1,229
ROE (net income / shareholders' equity)	-	-10.3%	11.8%	5.75%	7.65%	8.37%
ROA (Net income/ Total Assets)	-	-1.4%	1.06%	1.74%	2.62%	3.02%
Assets ¹	-	24,992	27,187	28,540	24,997	26,132
Book Value Per Share ²	-	-	20.80	15.20	15.10	16.50
Cash Flow per Share ²	-	-	0.5100	1.100	2.290	1.920
Capex ¹	-	22.5	54.9	58	44.7	60
Capex / Sales	-	0.03%	0.07%	0.07%	0.05%	0.06%
Announcement Date	1/31/22	3/30/22	3/28/23	3/27/24	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Huitongda Network Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

26.8 CNY

Average target price

39.84 CNY

Spread / Average Target

+48.67%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Internet & Mail Order Department Stores

	1st Jan change	Capi.
HUITONGDA NETWORK CO., LTD.	-4.77%	2.07B
JD.COM, INC.	+5.02%	46.43B
COUPANG, INC.	+41.51%	40.95B
ALLEGRO.EU S.A.	-0.17%	8.67B
ETSY, INC.	-16.80%	7.91B
ZOZO, INC.	+7.09%	6.41B
WAYFAIR INC.	-15.71%	6.26B
FSN E-COMMERCE VENTURES LIMITED	+2.39%	6.07B
MONOTARO CO., LTD.	+15.78%	5.63B
OCADO GROUP PLC	-53.44%	3.6B

Internet & Mail Order Department Stores