Financials Shanghai Construction Group Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
2.41 ^CNY	+1.69%		-2.03%	+2.99%

Apr. 08	Shanghai Construction Unit's Consortium Bags Integrated Circuit Factory Construction Project for 9.88 Billion Yuan	MT
Feb. 27	Shanghai Construction Group's 2023 Profit Rises 11%	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	31,522	26,755	31,989	23,103	20,793	21,415	-	-
Enterprise Value (EV) ¹	31,522	26,755	31,989	23,103	20,793	21,415	21,415	21,415
P/E ratio	8.63 x	8.85 x	10 x	26 x	19.5 x	12.2 x	10.8 x	9.54 x
Yield	3.95%	-	-	-	-	-	-	-
Capitalization / Revenue	0.15 x	0.12 x	0.11 x	0.08 x	0.07 x	0.07 x	0.06 x	0.06 x
EV / Revenue	0.15 x	0.12 x	0.11 x	0.08 x	0.07 x	0.07 x	0.06 x	0.06 x
EV / EBITDA	4.17 x	4.09 x	4.29 x	5.2 x	3.44 x	2.39 x	2.18 x	2.01 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	0.96 x	1.05 x	0.77 x	0.68 x	0.5 x	0.49 x	0.47 x
Nbr of stocks (in thousands)	8,904,398	8,888,598	8,885,940	8,885,940	8,885,940	8,885,940	-	-
Reference price ²	3.540	3.010	3.600	2.600	2.340	2.410	2.410	2.410
Announcement Date	2/13/20	2/10/21	2/25/22	4/17/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	205,497	231,327	281,055	286,037	304,628	324,240	345,514	367,709
EBITDA ¹	7,561	6,537	7,454	4,441	6,046	8,963	9,805	10,647
EBIT ¹	5,394	4,092	4,798	1,831	3,081	3,026	3,358	3,673
Operating Margin	2.62%	1.77%	1.71%	0.64%	1.01%	0.93%	0.97%	1%
Earnings before Tax (EBT) ¹	5,683	4,414	5,283	2,271	2,954	3,139	3,568	4,004
Net income ¹	3,930	3,351	3,769	1,356	1,558	1,773	1,987	2,233
Net margin	1.91%	1.45%	1.34%	0.47%	0.51%	0.55%	0.57%	0.61%
EPS ²	0.4100	0.3400	0.3600	0.1000	0.1200	0.1975	0.2225	0.2525
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	0.1400	-	-	-	-	-	-	-
Announcement Date	2/13/20	2/10/21	2/25/22	4/17/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	14.2%	11.1%	11.1%	2.86%	3.5%	4.19%	4.52%	4.87%
ROA (Net income/ Total Assets)	1.66%	-	-	-	-	-	-	-
Assets ¹	236,617	-	-	-	-	-	-	-
Book Value Per Share ²	-	3.140	3.420	3.360	3.430	4.810	4.960	5.120
Cash Flow per Share ²	0.5100	0.0400	1.160	1.010	2.360	1.840	1.840	1.900
Capex ¹	2,211	-	3,498	-	2,965	3,148	3,166	3,329
Capex / Sales	1.08%	-	1.24%	-	0.97%	0.97%	0.92%	0.91%
Announcement Date	2/13/20	2/10/21	2/25/22	4/17/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2.41 CNY

Average target price

2.72 CNY

Spread / Average Target

+12.86%

	1st Jan change	Capi.
SHANGHAI CONSTRUCTION GROUP CO., LTD.	+2.99%	2.96B
VINCI	-2.68%	67.67B
LARSEN & TOUBRO LIMITED	+3.03%	59.37B
QUANTA SERVICES, INC.	+21.25%	38.3B
CHINA STATE CONSTRUCTION ENGINEERING CORPORATION LIMITED	+11.23%	30.73B
FERROVIAL SE	+2.91%	26.35B
CHINA RAILWAY GROUP LIMITED	+22.89%	22.01B
WSP GLOBAL INC.	+15.06%	19.47B
CHINA COMMUNICATIONS CONSTRUCTION COMPANY LIMITED	+23.28%	17.6B
EMCOR GROUP, INC.	+64.33%	16.64B