Financials Shanxi Lanhua Sci-Tech Venture 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
8.94 ^CNY	-1.87%		-22.80%	-19.02%

Apr. 23	Lanhua Sci-Tech Venture to Issue Bonds of Up to 2 Billion Yuan	MT
Apr. 23	China stocks down, dragged by cyclical shares; HK shares up	RE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,546	10,704	15,240	16,396	13,277	-	-
Enterprise Value (EV) ¹	6,546	10,704	15,240	16,396	13,277	13,277	13,277
P/E ratio	17.5 x	4.55 x	4.73 x	7.82 x	10.6 x	8.36 x	7.15 x
Yield	-	8%	-	-	5.26%	7.72%	8.95%
Capitalization / Revenue	-	0.83 x	1.08 x	1.23 x	1.12 x	1.02 x	0.96 x
EV / Revenue	-	0.83 x	1.08 x	1.23 x	1.12 x	1.02 x	0.96 x
EV / EBITDA	-	-	-	3.54 x	3.43 x	2.71 x	2.44 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	-	0.82 x	0.98 x	0.98 x	0.79 x	0.75 x	0.71 x
Nbr of stocks (in thousands)	1,485,120	1,485,120	1,485,120	1,485,120	1,485,120	-	-
Reference price ²	4.408	7.208	10.26	11.04	8.940	8.940	8.940
Announcement Date	4/7/21	2/15/22	4/24/23	4/9/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	12,860	14,156	13,284	11,881	12,978	13,762
EBITDA ¹	-	-	-	4,635	3,868	4,893	5,450
EBIT ¹	-	3,051	5,038	3,313	2,066	2,586	2,994
Operating Margin	-	23.73%	35.59%	24.94%	17.39%	19.93%	21.76%
Earnings before Tax (EBT) ¹	-	2,952	4,549	3,218	1,946	2,472	2,882
Net income ¹	374.7	2,353	3,224	2,098	1,248	1,590	1,856
Net margin	-	18.29%	22.77%	15.79%	10.5%	12.25%	13.48%
EPS ²	0.2523	1.584	2.171	1.412	0.8450	1.070	1.250
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	0.5769	-	-	0.4700	0.6900	0.8000
Announcement Date	4/7/21	2/15/22	4/24/23	4/9/24	-	-	-

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)	-	19.8%	22.6%	13.1%	7.46%	8.93%	9.87%
ROA (Net income/ Total Assets)	-	8.49%	-	-	4.03%	4.87%	5.55%
Assets ¹	-	27,709	-	-	30,968	32,639	33,463
Book Value Per Share ²	-	8.800	10.40	11.20	11.30	11.90	12.60
Cash Flow per Share ²	-	2.210	3.840	1.800	2.760	2.920	3.110
Capex ¹	-	790	484	580	835	900	811
Capex / Sales	-	6.15%	3.42%	4.37%	7.03%	6.93%	5.89%
Announcement Date	4/7/21	2/15/22	4/24/23	4/9/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

8.94 CNY

Average target price

12 CNY

Spread / Average Target

+34.23%

	1st Jan change	Capi.
SHANXI LANHUA SCI-TECH VENTURE CO.,LTD	-19.02%	1.83B
CHINA SHENHUA ENERGY COMPANY LIMITED	+19.44%	104B
PT BAYAN RESOURCES TBK.	-5.15%	38.78B
SHAANXI COAL INDUSTRY COMPANY LIMITED	+19.96%	33.53B
COAL INDIA LIMITED	+21.22%	33.68B
YANKUANG ENERGY GROUP COMPANY LIMITED	+11.73%	20.45B
CHINA COAL ENERGY COMPANY LIMITED	+7.75%	18.4B
SHANXI LU'AN ENVIRONMENTAL ENERGY DEVELOPMENT CO., LTD.	-4.70%	8.62B
SHANXI COKING COAL ENERGY GROUP CO., LTD.	+6.48%	8.24B
HUAIBEI MINING HOLDINGS CO.,LTD.	+7.46%	6.64B