Financials Huizhou Desay SV Automotive Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 2025-07-15			5-day change	1st Jan Change
101.86 ^CNY	+0.24%		+0.32%	-7.49%

Jun. 06	Desay SV Automotive's Shareholders To Unload Stake In Co	RE
Apr. 28	Nomura Adjusts Huizhou Desay SV Automotive's Price Target to 139 Yuan From 132 Yuan, Keeps at Buy	MT

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	6,799	9,569	14,933	21,908	27,618	34,802	42,229	50,428
Change	-	40.75%	56.05%	46.71%	26.06%	26.01%	21.34%	19.42%
EBITDA ¹	773.7	1,160	1,557	2,035	3,043	3,744	4,591	5,550
Change	-	49.9%	34.21%	30.77%	49.52%	23.03%	22.6%	20.9%
EBIT ¹	535.6	856.7	1,158	1,537	2,099	2,938	3,663	4,620
Change	-	59.95%	35.22%	32.66%	36.58%	39.97%	24.68%	26.13%
Interest Paid ¹	30.96	-8.093	-45.39	-48.61	-157.5	-62.46	-81.35	-115
Earnings before Tax (EBT) ¹	533.8	860.7	1,157	1,538	2,100	2,898	3,675	4,623
Change	-	61.25%	34.47%	32.9%	36.5%	38.03%	26.82%	25.79%
Net income ¹	518.1	832.9	1,184	1,547	2,005	2,786	3,492	4,330
Change	-	60.75%	42.13%	30.65%	29.62%	38.94%	25.35%	24.02%
Announcement Date	4/13/21	4/14/22	3/29/23	3/27/24	3/14/25	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	-	2,501	2,042	2,041	2,220	3,267	3,142	3,266	3,704	4,822	3,983	4,741	5,746	7,438	5,648	6,045	7,282	8,643	6,792	8,247	9,472	10,819	9,641	8,568	10,323	12,252
Change	-	-	-18.36%	-0.03%	8.76%	47.14%	-3.83%	3.96%	13.4%	30.2%	-17.39%	19.02%	21.19%	29.44%	-24.06%	7.03%	20.48%	18.69%	-21.42%	21.42%	14.86%	14.22%	-10.88%	-11.13%	20.48%	18.69%
EBITDA	-	210.8	-	-	200.3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	161.7	239.3	193.4	142.8	281.1	376	241.2	201.9	339.2	389.6	282.9	363.9	547.1	455.3	479.9	536.3	627.4	670.8	674.6	838.6	940.4	1,172	-	-	-
Change	-	-	48.02%	-19.16%	-26.18%	96.87%	33.76%	-35.84%	-16.32%	68.04%	14.86%	-27.4%	28.65%	50.33%	-16.79%	5.41%	11.74%	17%	6.91%	0.56%	24.32%	12.13%	24.67%	-	-	-
Charge d'intérêts	-	24.58	-	-	-	-7.501	-	-	-	-2.386	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	160.2	-	-	-	281.6	-	-	-	336.4	389.7	270.1	331.6	546.8	452.7	481.7	536.4	628.8	668.7	725.7	754.7	783.8	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	15.84%	-30.68%	22.75%	64.91%	-17.22%	6.43%	11.35%	17.23%	6.34%	8.52%	4%	3.85%	-	-	-	-
Net income ¹	88.75	199.8	-	141.2	121.7	341.6	-	-	-	491.6	330.5	276.5	353.3	586.4	384.8	453.6	568.4	598.1	582.2	684.9	712.3	739.7	-	-	-	-
Change	-	125.15%	-	-	-13.83%	180.64%	-	-	-	-	-32.76%	-16.33%	27.74%	66%	-34.39%	17.9%	25.29%	5.22%	-2.65%	17.63%	4%	3.85%	-	-	-	-
Announcement Date	10/26/20	4/13/21	4/14/21	8/23/21	10/28/21	4/14/22	4/17/22	8/18/22	10/25/22	3/29/23	4/26/23	8/16/23	10/24/23	3/27/24	4/18/24	8/20/24	10/30/24	3/14/25	4/23/25	-	-	-	-	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2022 S2	2023 S1	2023 S2	2024 S2
Net sales ¹	8,526	8,724	13,184	15,926
Change	-	2.33%	51.11%	20.8%
EBITDA	-	-	-	-
Change	-	-	-	-
EBIT ¹	541.1	-	-	1,164
Change	-	-	-	-
Charge d'intérêts	-33.21	-	-	-
Earnings before Tax (EBT) ¹	539.6	-	-	1,165
Change	-	-	-	-
Net income ¹	662.8	607.1	-	1,166
Change	-	-8.41%	-	-
Announcement Date	3/29/23	8/16/23	3/27/24	3/14/25

¹CNY in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-609	-838	-102	-239	362	-2,079	-3,194	-5,600
Change	-	-37.6%	87.83%	-134.31%	251.46%	-674.93%	-53.63%	-75.33%
Announcement Date	4/13/21	4/14/22	3/29/23	3/27/24	3/14/25	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	431.1	673.7	1,296	1,105	1,477	1,151	1,357	1,334
Change	-	56.29%	92.39%	-14.78%	33.71%	-22.07%	17.9%	-1.72%
Free Cash Flow (FCF) ¹	-109.5	169.2	-686.6	36.51	16.66	1,588	1,094	1,239
Change	-	254.57%	-505.72%	105.32%	-54.37%	9,435.98%	-31.11%	13.22%
Announcement Date	4/13/21	4/14/22	3/29/23	3/27/24	3/14/25	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	11.38%	12.12%	10.42%	9.29%	11.02%	10.76%	10.87%	11.01%
EBIT Margin (%)	7.88%	8.95%	7.76%	7.01%	7.6%	8.44%	8.67%	9.16%
EBT Margin (%)	7.85%	8.99%	7.75%	7.02%	7.6%	8.33%	8.7%	9.17%
Net margin (%)	7.62%	8.7%	7.93%	7.06%	7.26%	8%	8.27%	8.59%
FCF margin (%)	-1.61%	1.77%	-4.6%	0.17%	0.06%	4.56%	2.59%	2.46%
FCF / Net Income (%)	-21.13%	20.32%	-57.99%	2.36%	0.83%	57.03%	31.34%	28.61%
Profitability
ROA	7.46%	9.41%	8.67%	9.74%	10.15%	11.39%	11.68%	11.99%
ROE	11.73%	16.74%	20.21%	21.94%	23.07%	24.42%	24.87%	24.83%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	0.12x	-	-	-
Debt / Free cash flow	-	-	-	-	21.71x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	6.34%	7.04%	8.68%	5.04%	5.35%	3.31%	3.21%	2.64%
CAPEX / EBITDA (%)	55.72%	58.09%	83.27%	54.27%	48.53%	30.74%	29.56%	24.03%
CAPEX / FCF (%)	-393.75%	398.14%	-188.79%	3,025.57%	8,865.74%	72.46%	124%	107.64%
Items per share
Cash flow per share ¹	0.7988	1.518	1.098	2.056	2.691	5.694	5.584	7.179
Change	-	90.05%	-27.69%	87.27%	30.91%	111.57%	-1.93%	28.57%
Dividend per Share ¹	0.3	0.45	0.55	0.84	1.2	1.586	1.992	2.423
Change	-	50%	22.22%	52.73%	42.86%	32.13%	25.63%	21.65%
Book Value Per Share ¹	8.437	9.614	11.66	14.33	17.38	20.88	26.24	31.86
Change	-	13.96%	21.32%	22.84%	21.28%	20.15%	25.71%	21.41%
EPS ¹	0.94	1.51	2.13	2.8	3.62	5.08	6.147	7.78
Change	-	60.64%	41.06%	31.46%	29.29%	40.33%	21%	26.57%
Nbr of stocks (in thousands)	550,000	555,274	555,274	555,023	554,959	554,949	554,949	554,949
Announcement Date	4/13/21	4/14/22	3/29/23	3/27/24	3/14/25	-	-	-