Financials Lens Technology Co., Ltd.

Equities

300433

CNE100001YW7

Electronic Equipment & Parts

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
13.97 ^CNY	+3.48%		+2.65%	+5.83%

Apr. 24	Lens Technology's Q1 Profit Surges 379%	MT
Apr. 23	Lens Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	57,419	134,190	114,291	51,923	65,217	69,022	-	-
Enterprise Value (EV) ¹	64,213	136,272	122,567	59,222	69,984	74,115	72,187	71,625
P/E ratio	22.7 x	27.3 x	54.7 x	21.1 x	21.6 x	17.6 x	14.8 x	12.9 x
Yield	1.87%	1.14%	0.44%	1.9%	2.27%	2.39%	2.29%	2.78%
Capitalization / Revenue	1.9 x	3.63 x	2.52 x	1.11 x	1.2 x	0.95 x	0.96 x	0.83 x
EV / Revenue	2.12 x	3.69 x	2.71 x	1.27 x	1.28 x	1.03 x	1 x	0.87 x
EV / EBITDA	11.6 x	15.6 x	19 x	7.77 x	8.49 x	8.31 x	7.22 x	6.55 x
EV / FCF	-	80.9 x	-159 x	24.4 x	17.8 x	28.7 x	23.5 x	-
FCF Yield	-	1.24%	-0.63%	4.1%	5.61%	3.48%	4.25%	-
Price to Book	-	3.18 x	2.68 x	1.19 x	1.42 x	1.42 x	1.35 x	1.24 x
Nbr of stocks (in thousands)	4,154,740	4,383,857	4,973,480	4,930,952	4,940,700	4,940,700	-	-
Reference price ²	13.82	30.61	22.98	10.53	13.20	13.97	13.97	13.97
Announcement Date	2/27/20	2/26/21	2/28/22	2/27/23	4/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	30,258	36,939	45,268	46,699	54,491	72,297	71,904	82,665
EBITDA ¹	5,533	8,721	6,451	7,621	8,239	8,921	10,004	10,931
EBIT ¹	2,823	5,710	2,163	2,966	3,277	4,009	5,411	5,977
Operating Margin	9.33%	15.46%	4.78%	6.35%	6.01%	5.54%	7.53%	7.23%
Earnings before Tax (EBT) ¹	2,839	5,711	2,158	2,915	3,254	4,398	5,399	6,172
Net income ¹	2,469	4,896	2,070	2,448	3,021	3,950	4,833	5,408
Net margin	8.16%	13.25%	4.57%	5.24%	5.54%	5.46%	6.72%	6.54%
EPS ²	0.6100	1.120	0.4200	0.5000	0.6100	0.7942	0.9431	1.087
Free Cash Flow ¹	-	1,684	-770.6	2,426	3,928	2,578	3,072	-
FCF margin	-	4.56%	-1.7%	5.19%	7.21%	3.57%	4.27%	-
FCF Conversion (EBITDA)	-	19.31%	-	31.83%	47.67%	28.9%	30.7%	-
FCF Conversion (Net income)	-	34.39%	-	99.08%	130.01%	65.26%	63.56%	-
Dividend per Share ²	0.2580	0.3500	0.1000	0.2000	0.3000	0.3335	0.3206	0.3890
Announcement Date	2/27/20	2/26/21	2/28/22	2/27/23	4/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 Q4	2021 S2	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
Net sales ¹	15,568	11,342	23,877	9,334	9,849	12,393	15,122	9,839	10,338	13,631	20,683	15,498	16,673	20,141	23,450	17,705
EBITDA	-	-	-	-	1,032	2,301	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	-1,562	-530.6	-532.9	92.76	1,254	2,152	23.49	518.7	1,235	1,499	236.5	438	1,144	1,936	600.7
Operating Margin	-	-13.77%	-2.22%	-5.71%	0.94%	10.12%	14.23%	0.24%	5.02%	9.06%	7.25%	1.53%	2.63%	5.68%	8.26%	3.39%
Earnings before Tax (EBT) ¹	-	-1,545	-535.1	-578.9	104.2	1,249	2,141	3.473	536.8	1,241	1,472	245.6	557.1	1,255	2,365	729.9
Net income ¹	1,912	-1,227	-237.9	-411.4	106.7	1,064	1,689	64.55	489.7	1,095	1,372	309.2	453.6	1,046	1,883	600.4
Net margin	12.28%	-10.82%	-1%	-4.41%	1.08%	8.59%	11.17%	0.66%	4.74%	8.03%	6.63%	2%	2.72%	5.2%	8.03%	3.39%
EPS ²	-	-0.2402	-0.0443	-0.0828	0.0200	0.2100	0.3500	0.0131	0.0983	0.2200	0.2800	0.0620	0.0992	0.2584	0.4042	0.1302
Dividend per Share ²	-	0.1000	-	-	-	-	0.2000	-	-	-	0.3000	-	-	-	0.2706	-
Announcement Date	8/17/20	2/28/22	2/28/22	4/22/22	8/25/22	10/27/22	2/27/23	4/24/23	8/18/23	10/18/23	4/21/24	4/23/24	-	-	-	-

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	6,794	2,082	8,277	7,299	4,767	5,093	3,166	2,603
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.228 x	0.2387 x	1.283 x	0.9577 x	0.5785 x	0.5709 x	0.3164 x	0.2381 x
Free Cash Flow ¹	-	1,684	-771	2,426	3,928	2,578	3,072	-
ROE (net income / shareholders' equity)	13.4%	19.4%	4.87%	5.66%	6.69%	8.08%	9.23%	9.84%
ROA (Net income/ Total Assets)	5.77%	7.79%	2.67%	3.21%	-	4.71%	5.14%	-
Assets ¹	42,796	62,844	77,499	76,300	-	83,931	93,960	-
Book Value Per Share ²	-	9.620	8.570	8.880	9.300	9.820	10.40	11.30
Cash Flow per Share ²	1.710	1.730	1.210	1.850	1.870	0.9700	1.800	1.510
Capex ¹	4,521	5,897	6,810	6,755	5,372	5,828	6,574	6,642
Capex / Sales	14.94%	15.96%	15.04%	14.47%	9.86%	8.06%	9.14%	8.04%
Announcement Date	2/27/20	2/26/21	2/28/22	2/27/23	4/21/24	-	-	-

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 Lens Technology Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.97 CNY

Average target price

15.79 CNY

Spread / Average Target

+13.01%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electronic Component

	1st Jan change	Capi.
LENS TECHNOLOGY CO., LTD.	+5.83%	9.52B
AMPHENOL CORPORATION	+21.55%	72.28B
MURATA MANUFACTURING CO., LTD	-4.21%	34.41B
LUXSHARE PRECISION INDUSTRY CO., LTD.	-16.43%	28.52B
JABIL INC.	-7.17%	14.26B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-13.03%	9.92B
SUZHOU TFC OPTICAL COMMUNICATION CO., LTD.	+71.16%	8.54B
COHERENT CORP.	+26.49%	8.36B
EOPTOLINK TECHNOLOGY INC., LTD.	+69.91%	8.21B
YAGEO CORPORATION	+3.02%	7.91B

Electronic Component