Financials Jiangxi Copper Company Limited

Equities

358

CNE1000003K3

Specialty Mining & Metals

Delayed Hong Kong S.E. 09:35:35 2024-04-29 pm EDT 5-day change 1st Jan Change
16.48 HKD +2.23% Intraday chart for Jiangxi Copper Company Limited +7.45% +48.91%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 48,416 55,606 60,457 50,232 51,035 74,497 - -
Enterprise Value (EV) 1 80,577 89,070 78,431 70,885 72,318 113,807 101,994 100,594
P/E ratio 13.7 x 16 x 6.24 x 5.88 x - 6.97 x 6.47 x 6.57 x
Yield 1.04% 0.98% 4.92% 4.91% - 4.11% 4.48% 4.33%
Capitalization / Revenue 0.2 x 0.17 x 0.14 x 0.1 x 0.1 x 0.14 x 0.12 x 0.13 x
EV / Revenue 0.34 x 0.28 x 0.18 x 0.15 x 0.14 x 0.21 x 0.17 x 0.17 x
EV / EBITDA 11.1 x 11.2 x 7.85 x 5.25 x 6.42 x 8.79 x 7.41 x 7.11 x
EV / FCF 16,345,005 x -42,598,036 x 12,731,945 x - - - - -
FCF Yield 0% -0% 0% - - - - -
Price to Book 0.63 x 0.59 x 0.5 x 0.48 x - 0.71 x 0.64 x 0.62 x
Nbr of stocks (in thousands) 3,462,729 3,462,729 3,462,729 3,462,729 3,462,729 3,454,662 - -
Reference price 2 9.580 10.25 10.17 10.17 10.03 14.91 14.91 14.91
Announcement Date 3/30/20 3/29/21 3/25/22 3/24/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 239,585 317,756 442,768 479,938 521,893 548,056 603,376 594,816
EBITDA 1 7,236 7,924 9,993 13,499 11,267 12,948 13,758 14,140
EBIT 1 5,237 5,240 7,430 7,646 8,419 10,013 10,825 11,021
Operating Margin 2.19% 1.65% 1.68% 1.59% 1.61% 1.83% 1.79% 1.85%
Earnings before Tax (EBT) 1 3,135 3,252 7,301 7,492 8,380 11,409 10,320 9,291
Net income 1 2,438 2,320 5,636 5,994 6,505 8,857 8,041 7,257
Net margin 1.02% 0.73% 1.27% 1.25% 1.25% 1.62% 1.33% 1.22%
EPS 2 0.7000 0.6400 1.630 1.730 - 2.138 2.306 2.271
Free Cash Flow 4,930 -2,091 6,160 - - - - -
FCF margin 2.06% -0.66% 1.39% - - - - -
FCF Conversion (EBITDA) 68.13% - 61.64% - - - - -
FCF Conversion (Net income) 202.21% - 109.31% - - - - -
Dividend per Share 2 0.1000 0.1000 0.5000 0.5000 - 0.6124 0.6681 0.6458
Announcement Date 3/30/20 3/29/21 3/25/22 3/24/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2
Net sales 134,891 146,625 171,131 226,237 - 215,973 - - 254,588 - - 224,690 - - 267,526 132,029 254,366 - - 273,240 - - 271,722
EBITDA - - 4,989 - - - - - - - - - - - - - - - - - - - -
EBIT - - 3,551 4,150 - 3,401 - - 3,565 - - 2,928 - - 4,335 2,151 4,084 - - 6,050 - - 6,830
Operating Margin - - 2.07% 1.83% - 1.57% - - 1.4% - - 1.3% - - 1.62% 1.63% 1.61% - - 2.21% - - 2.51%
Earnings before Tax (EBT) - - 2,043 - - - - - - - - - - - - - - - - - - - -
Net income - 787 1,441 - - - - - - - - - - - - - - - - - - - -
Net margin - 0.54% 0.84% - - - - - - - - - - - - - - - - - - - -
EPS 1 0.2900 0.2300 0.4100 0.9100 0.3300 0.7200 0.4300 0.6100 1.040 0.3700 0.3200 0.6900 0.5100 0.4900 1.000 - - 0.5000 0.4500 1.030 0.4700 0.3300 1.270
Dividend per Share - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 3/30/20 8/28/20 3/29/21 8/27/21 3/25/22 3/25/22 4/28/22 8/25/22 8/25/22 10/27/22 3/24/23 3/24/23 4/24/23 8/25/23 8/25/23 10/27/23 3/27/24 4/26/24 - - - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 32,161 33,464 17,974 20,654 21,282 39,309 27,497 26,096
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.445 x 4.223 x 1.799 x 1.53 x 1.889 x 3.036 x 1.999 x 1.846 x
Free Cash Flow 4,930 -2,091 6,160 - - - - -
ROE (net income / shareholders' equity) 4.76% 3.96% 8.69% 8.36% 9.23% 10.4% 8.98% 10%
ROA (Net income/ Total Assets) 2.05% 1.62% 4.7% 3.3% - 1.71% 1.57% 3.96%
Assets 1 118,890 143,678 119,916 181,668 - 517,953 512,187 183,267
Book Value Per Share 2 15.20 17.30 20.20 21.20 - 21.10 23.40 24.10
Cash Flow per Share 2 2.380 -0.6500 2.610 3.070 - 2.400 3.570 2.910
Capex 1 3,323 3,473 2,761 5,105 6,765 8,973 5,498 6,040
Capex / Sales 1.39% 1.09% 0.62% 1.06% 1.3% 1.64% 0.91% 1.02%
Announcement Date 3/30/20 3/29/21 3/25/22 3/24/23 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

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
14.91 CNY
Average target price
16.63 CNY
Spread / Average Target
+11.50%
Consensus
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