Financials Shenzhen Megmeet Electrical 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
21.04 ^CNY	+2.68%		+1.84%	-14.47%

Apr. 19	UBS Upgrades China's 2024 GDP Growth Forecast	MT
Apr. 02	Bond Comments by China's Xi Hint at Possible Expansion of PBOC Toolkit	DJ

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	6,635	9,727	17,095	15,932	12,837	10,481	10,481	-
Enterprise Value (EV) ¹	6,635	9,727	17,095	15,641	13,771	11,875	11,951	11,850
P/E ratio	29.3 x	26.7 x	40.4 x	41.2 x	27.6 x	16.4 x	11.8 x	9.27 x
Yield	0.61%	0.77%	0.5%	0.5%	0.19%	0.64%	0.88%	1.57%
Capitalization / Revenue	2.77 x	2.73 x	5.06 x	3.83 x	2.34 x	1.54 x	1.2 x	1 x
EV / Revenue	2.77 x	2.73 x	5.06 x	3.76 x	2.51 x	1.74 x	1.37 x	1.13 x
EV / EBITDA	21.4 x	22 x	34.2 x	29.8 x	22 x	13.7 x	10.9 x	8.18 x
EV / FCF	-	-	-	-44 x	-35.1 x	-31.2 x	543 x	50.2 x
FCF Yield	-	-	-	-2.27%	-2.85%	-3.21%	0.18%	1.99%
Price to Book	4.02 x	5.05 x	5.57 x	5.05 x	3.69 x	2.44 x	2.04 x	1.69 x
Nbr of stocks (in thousands)	469,458	469,458	501,908	497,569	494,480	498,161	498,161	-
Reference price ²	14.13	20.72	34.06	32.02	25.96	21.04	21.04	21.04
Announcement Date	2/26/19	2/28/20	2/26/21	4/21/22	4/28/23	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	2,394	3,560	3,376	4,156	5,478	6,821	8,738	10,530
EBITDA ¹	310.7	442.9	499.4	524.8	627.1	865.3	1,098	1,449
EBIT ¹	266.9	386.5	432.1	438.8	506.1	713.3	984.3	1,260
Operating Margin	11.15%	10.86%	12.8%	10.56%	9.24%	10.46%	11.26%	11.97%
Earnings before Tax (EBT) ¹	266.7	386.5	431.2	437.3	505.3	691.2	959	1,223
Net income ¹	203.6	361.1	403	388.8	472.7	641.9	890.5	1,136
Net margin	8.5%	10.14%	11.93%	9.36%	8.63%	9.41%	10.19%	10.79%
EPS ²	0.4821	0.7747	0.8438	0.7775	0.9397	1.283	1.783	2.270
Free Cash Flow ¹	-	-	-	-355.1	-392.3	-381	22	236
FCF margin	-	-	-	-8.54%	-7.16%	-5.59%	0.25%	2.24%
FCF Conversion (EBITDA)	-	-	-	-	-	-	2%	16.29%
FCF Conversion (Net income)	-	-	-	-	-	-	2.47%	20.77%
Dividend per Share ²	0.0867	0.1600	0.1700	0.1600	0.0500	0.1350	0.1850	0.3300
Announcement Date	2/26/19	2/28/20	2/26/21	4/21/22	4/28/23	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	934	1,394	1,470	1,369
Net Cash position ¹	-	-	-	292	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	1.49 x	1.611 x	1.339 x	0.9448 x
Free Cash Flow ¹	-	-	-	-355	-392	-381	22	236
ROE (net income / shareholders' equity)	14%	20%	17.9%	12.4%	14.1%	15.2%	18%	18.5%
ROA (Net income/ Total Assets)	-	10.1%	8.81%	3.42%	6.45%	6.4%	8.2%	8%
Assets ¹	-	3,564	4,577	11,370	7,333	10,030	10,860	14,200
Book Value Per Share ²	3.510	4.100	6.120	6.340	7.040	8.610	10.30	12.40
Cash Flow per Share ²	-0.2000	1.310	0.9200	-0.2300	-0.0400	1.240	1.570	-
Capex ¹	57.3	218	213	242	372	381	460	670
Capex / Sales	2.4%	6.14%	6.31%	5.81%	6.78%	5.59%	5.26%	6.36%
Announcement Date	2/26/19	2/28/20	2/26/21	4/21/22	4/28/23	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

21.04 CNY

Average target price

36.77 CNY

Spread / Average Target

+74.75%

	1st Jan change	Capi.
SHENZHEN MEGMEET ELECTRICAL CO., LTD	-14.47%	1.45B
AMPHENOL CORPORATION	+21.55%	72.37B
HON HAI PRECISION INDUSTRY CO., LTD.	+48.33%	65.86B
MURATA MANUFACTURING CO., LTD	-4.21%	34.41B
LUXSHARE PRECISION INDUSTRY CO., LTD.	-16.43%	28.52B
JABIL INC.	-7.17%	14.26B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-13.03%	9.92B
LENS TECHNOLOGY CO., LTD.	+5.83%	9.52B
SUZHOU TFC OPTICAL COMMUNICATION CO., LTD.	+71.16%	8.54B
COHERENT CORP.	+26.49%	8.36B