Financials Shandong Donghong Pipe Industry Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
10.64 ^CNY	+1.14%		+4.42%	-8.83%

Apr. 25	Shandong Donghong Pipe Industry Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 25	Shandong Donghong Pipe Industry Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,095	3,277	2,983	2,998	2,733	-	-
Enterprise Value (EV) ¹	3,095	3,277	2,983	2,998	2,733	2,733	2,733
P/E ratio	9.73 x	24.4 x	20.3 x	18.5 x	11.3 x	8.48 x	7.19 x
Yield	3.09%	1.22%	1.5%	-	-	-	-
Capitalization / Revenue	1.29 x	1.48 x	1.02 x	1.05 x	0.76 x	0.6 x	0.52 x
EV / Revenue	1.29 x	1.48 x	1.02 x	1.05 x	0.76 x	0.6 x	0.52 x
EV / EBITDA	7.53 x	17.4 x	12.8 x	12.1 x	7.38 x	5.2 x	4.57 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	1.58 x	1.64 x	1.41 x	1.34 x	1.12 x	0.98 x	0.93 x
Nbr of stocks (in thousands)	256,415	258,035	257,387	256,901	256,901	-	-
Reference price ²	12.07	12.70	11.59	11.67	10.64	10.64	10.64
Announcement Date	1/26/21	1/28/22	1/30/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,393	2,209	2,939	2,864	3,580	4,541	5,257
EBITDA ¹	411.1	188.6	233.2	247.8	370.5	525.8	598.5
EBIT ¹	373.8	147.3	167.8	184.6	291.2	384.5	459.9
Operating Margin	15.62%	6.67%	5.71%	6.45%	8.13%	8.47%	8.75%
Earnings before Tax (EBT) ¹	372.5	149.1	167.3	188.3	295.1	386.5	463.8
Net income ¹	317.6	133	146.4	161.1	242.3	322.5	380.9
Net margin	13.28%	6.02%	4.98%	5.63%	6.77%	7.1%	7.24%
EPS ²	1.240	0.5200	0.5700	0.6300	0.9400	1.255	1.480
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share	0.3730	0.1550	0.1740	-	-	-	-
Announcement Date	1/26/21	1/28/22	1/30/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	16.8%	6.72%	7.1%	7.31%	10.2%	11.8%	13.2%
ROA (Net income/ Total Assets)	12.8%	3.94%	3.79%	-	-	-	-
Assets ¹	2,486	3,379	3,862	-	-	-	-
Book Value Per Share ²	7.640	7.770	8.220	8.720	9.470	10.80	11.50
Cash Flow per Share ²	-0.1100	-0.7800	0.0700	0.7500	1.660	1.460	0.7600
Capex ¹	60.6	163	35.2	5.69	170	176	222
Capex / Sales	2.53%	7.37%	1.2%	0.2%	4.74%	3.88%	4.22%
Announcement Date	1/26/21	1/28/22	1/30/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.64 CNY

Average target price

15.16 CNY

Spread / Average Target

+42.43%

	1st Jan change	Capi.
SHANDONG DONGHONG PIPE INDUSTRY CO., LTD.	-8.83%	378M
GEBERIT AG	-7.42%	18.23B
ADVANCED DRAINAGE SYSTEMS, INC.	+15.77%	12.64B
ASTRAL LIMITED	+11.57%	6.62B
ZHEJIANG WEIXING NEW BUILDING MATERIALS CO., LTD.	+23.36%	3.88B
RELIANCE WORLDWIDE CORPORATION LIMITED	+16.93%	2.68B
ALIAXIS SA	+10.71%	2.59B
UPONOR OYJ	+1.78%	2.23B
FINOLEX INDUSTRIES LIMITED	+27.68%	2.01B
PROPLASTICS LIMITED	+112.45%	1.04B