Financials Limin Group Co.,Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
6.48 ^CNY	+0.62%		-0.61%	-18.70%

Apr. 26	Limin Group Co.,Ltd. Proposes Final Dividend for the Year 2023	CI
Feb. 23	Limin Group Co.,Ltd. commences an Equity Buyback Plan for CNY 180 million worth of its shares, under the authorization approved on February 22, 2024.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	3,966	4,735	4,880	3,446	2,889	2,349	-
Enterprise Value (EV) ¹	3,966	4,735	4,880	3,446	2,889	2,349	2,349
P/E ratio	11.7 x	12.1 x	15.1 x	17.3 x	46.9 x	8.76 x	7.36 x
Yield	-	-	-	2.67%	-	-	-
Capitalization / Revenue	1.4 x	1.08 x	-	0.69 x	0.68 x	0.41 x	0.39 x
EV / Revenue	1.4 x	1.08 x	-	0.69 x	0.68 x	0.41 x	0.39 x
EV / EBITDA	-	6.73 x	-	-	6.98 x	3.18 x	2.94 x
EV / FCF	-	-	-	-37,650,580 x	-	-	-
FCF Yield	-	-	-	-0%	-	-	-
Price to Book	1.91 x	2 x	-	1.33 x	1.13 x	0.77 x	0.71 x
Nbr of stocks (in thousands)	372,525	372,525	372,534	368,206	362,498	362,498	-
Reference price ²	10.65	12.71	13.10	9.360	7.970	6.480	6.480
Announcement Date	2/27/20	4/19/21	4/19/22	4/19/23	4/25/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	2,833	4,388	-	5,016	4,224	5,794	5,995
EBITDA ¹	-	703.3	-	-	414.2	739	799
EBIT ¹	354.3	493.8	-	258.6	64.29	324	383
Operating Margin	12.51%	11.25%	-	5.16%	1.52%	5.59%	6.39%
Earnings before Tax (EBT) ¹	365.6	490.5	-	255.3	64.33	321	380
Net income ¹	321.9	386	306.9	219	62.05	275	326
Net margin	11.36%	8.8%	-	4.37%	1.47%	4.75%	5.44%
EPS ²	0.9077	1.050	0.8700	0.5400	0.1700	0.7400	0.8800
Free Cash Flow	-	-	-	-91.54	-	-	-
FCF margin	-	-	-	-1.82%	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share	-	-	-	0.2500	-	-	-
Announcement Date	2/27/20	4/19/21	4/19/22	4/19/23	4/25/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-91.5	-	-	-
ROE (net income / shareholders' equity)	17.4%	17.5%	-	8.01%	2.23%	3.8%	4.3%
ROA (Net income/ Total Assets)	-	7.75%	-	-	-	8.7%	9.6%
Assets ¹	-	4,978	-	-	-	3,161	3,396
Book Value Per Share ²	5.560	6.360	-	7.060	7.080	8.460	9.080
Cash Flow per Share	-	2.420	-	-	-	-	-
Capex ¹	373	348	-	734	235	135	142
Capex / Sales	13.16%	7.93%	-	14.63%	5.57%	2.33%	2.37%
Announcement Date	2/27/20	4/19/21	4/19/22	4/19/23	4/25/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

6.48 CNY

Average target price

10 CNY

Spread / Average Target

+54.32%

	1st Jan change	Capi.
LIMIN GROUP CO.,LTD.	-18.70%	324M
JIANGSU YANGNONG CHEMICAL CO., LTD.	+1.19%	3.58B
SHANDONG WEIFANG RAINBOW CHEMICAL CO., LTD	-17.77%	2.21B
ADAMA LTD.	-13.26%	1.85B
ANHUI GUANGXIN AGROCHEMICAL CO., LTD.	-0.69%	1.8B
ZHEJIANG XINAN CHEMICAL INDUSTRIAL GROUP CO.,LTD	-5.70%	1.6B
NUFARM LIMITED	+0.77%	1.27B
SHENZHEN NOPOSION CROP SCIENCE CO., LTD.	-2.91%	1.1B
LIER CHEMICAL CO.,LTD.	-22.97%	1.02B
NANTONG JIANGSHAN AGROCHEMICAL & CHEMICALS CO.,LTD.	-8.05%	951M