Financials Oriental Energy 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
9.25 ^CNY	+0.87%		+0.22%	-10.19%

Apr. 17	Oriental Energy Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Feb. 20	Factbox-Asia's sustainable aviation fuel projects and agreements	RE

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	12,802	16,426	20,395	12,026	16,234	14,579	-	-
Enterprise Value (EV) ¹	12,802	16,426	28,191	26,959	29,587	28,910	29,337	14,579
P/E ratio	11.1 x	13.2 x	17.4 x	283 x	108 x	51.4 x	20.4 x	14.5 x
Yield	-	2.28%	1.72%	-	-	1.55%	1.84%	-
Capitalization / Revenue	0.28 x	0.56 x	0.77 x	0.41 x	0.6 x	0.5 x	0.49 x	0.42 x
EV / Revenue	0.28 x	0.56 x	1.07 x	0.92 x	1.09 x	1 x	0.98 x	0.42 x
EV / EBITDA	-	7.62 x	10.5 x	33.1 x	27 x	10.3 x	8.93 x	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	1.64 x	1.91 x	1.16 x	1.52 x	1.33 x	1.25 x	1.17 x
Nbr of stocks (in thousands)	1,649,783	1,619,963	1,619,963	1,576,128	1,576,128	1,576,128	-	-
Reference price ²	7.760	10.14	12.59	7.630	10.30	9.250	9.250	9.250
Announcement Date	2/27/20	3/31/21	4/20/22	4/27/23	4/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	46,188	29,082	26,367	29,199	27,123	28,966	29,790	34,632
EBITDA ¹	-	2,157	2,688	813.9	1,095	2,819	3,284	-
EBIT ¹	1,377	1,506	1,553	-32.47	227.3	403	1,392	1,307
Operating Margin	2.98%	5.18%	5.89%	-0.11%	0.84%	1.39%	4.67%	3.77%
Earnings before Tax (EBT) ¹	1,466	1,554	1,568	-5.626	216.2	392	1,022	1,296
Net income ¹	1,104	1,210	1,140	42.51	150.5	291	743.2	1,011
Net margin	2.39%	4.16%	4.32%	0.15%	0.55%	1%	2.49%	2.92%
EPS ²	0.6984	0.7677	0.7233	0.0270	0.0955	0.1800	0.4540	0.6400
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	0.2310	0.2170	-	-	0.1438	0.1704	-
Announcement Date	2/27/20	3/31/21	4/20/22	4/27/23	4/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	7,796	14,933	13,353	14,330	14,758	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	2.9 x	18.35 x	12.2 x	5.083 x	4.494 x	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	12.5%	12.4%	10.8%	0.4%	1.44%	2.65%	6.42%	8.09%
ROA (Net income/ Total Assets)	4.02%	6.46%	3.56%	-	-	0.7%	1.1%	1.9%
Assets ¹	27,435	18,745	32,036	-	-	41,571	67,562	53,211
Book Value Per Share ²	-	6.180	6.570	6.560	6.760	6.950	7.410	7.930
Cash Flow per Share ²	0.7100	0.5400	0.7100	-0.5800	1.660	1.120	1.800	1.770
Capex ¹	1,610	1,691	3,069	4,490	2,146	3,200	2,881	4,200
Capex / Sales	3.49%	5.81%	11.64%	15.38%	7.91%	11.05%	9.67%	12.13%
Announcement Date	2/27/20	3/31/21	4/20/22	4/27/23	4/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

9.25 CNY

Average target price

9.35 CNY

Spread / Average Target

+1.08%

	1st Jan change	Capi.
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