SINOLINK SECURITIES CO., LTD. Financials Sinolink Securities Co., Ltd.
Equities
600109
CNE000000SV4
Investment Banking & Brokerage Services
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 8.77 CNY | +6.82% |
|
+3.79% | -3.41% |
| Apr. 25 | Sinolink Securities' Q1 Profit Falls 39% | MT |
| Apr. 25 | Sinolink Securities' 2023 Profit Jumps 43% | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 28,127 | 49,206 | 34,266 | 32,402 | 33,817 | 32,365 | - | - |
| Enterprise Value (EV) 1 | 28,127 | 49,206 | 34,266 | 32,402 | 33,817 | 32,365 | 32,365 | 32,365 |
| P/E ratio | 21.7 x | 26.4 x | 14.8 x | 25.4 x | - | 24.4 x | 16.2 x | 16.9 x |
| Yield | 0.54% | 0.43% | 0.62% | 0.46% | 1.54% | 1.12% | - | - |
| Capitalization / Revenue | 6.47 x | 8.12 x | 4.81 x | 5.65 x | - | 6.32 x | 4.5 x | 4.7 x |
| EV / Revenue | 6.47 x | 8.12 x | 4.81 x | 5.65 x | - | 6.32 x | 4.5 x | 4.7 x |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 1.36 x | 2.19 x | 1.4 x | 1.04 x | 1.04 x | 0.97 x | 0.93 x | 0.91 x |
| Nbr of stocks (in thousands) | 3,024,359 | 3,024,359 | 3,024,359 | 3,724,359 | 3,724,359 | 3,690,458 | - | - |
| Reference price 2 | 9.300 | 16.27 | 11.33 | 8.700 | 9.080 | 8.770 | 8.770 | 8.770 |
| Announcement Date | 4/1/20 | 4/1/21 | 4/1/22 | 4/25/23 | 4/24/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,350 | 6,063 | 7,127 | 5,733 | - | 5,123 | 7,195 | 6,889 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT 1 | 1,652 | 2,341 | 2,923 | 1,380 | - | 2,535 | 2,578 | 2,392 |
| Operating Margin | 37.99% | 38.61% | 41.01% | 24.07% | - | 49.48% | 35.84% | 34.72% |
| Earnings before Tax (EBT) 1 | 1,706 | 2,424 | 2,986 | 1,380 | - | 1,677 | 2,578 | 2,392 |
| Net income 1 | 1,299 | 1,863 | 2,317 | 1,198 | - | 1,358 | 2,079 | 1,938 |
| Net margin | 29.85% | 30.72% | 32.52% | 20.9% | - | 26.51% | 28.9% | 28.13% |
| EPS 2 | 0.4290 | 0.6160 | 0.7660 | 0.3430 | - | 0.3600 | 0.5400 | 0.5200 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0.0500 | 0.0700 | 0.0700 | 0.0400 | 0.1400 | 0.0986 | - | - |
| Announcement Date | 4/1/20 | 4/1/21 | 4/1/22 | 4/25/23 | 4/24/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,896 | 2,208 | 912.1 | 1,590 | 1,572 | 1,659 | 1,952 | 1,375 | 1,702 |
| EBITDA | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) 1 | - | 935.6 | 145.6 | 563.2 | 379.6 | 291.6 | 770 | 323.6 | 456 |
| Net income 1 | 1,002 | 779.1 | 124.4 | 418.5 | 279.7 | 375.7 | 597.4 | 277 | 361.6 |
| Net margin | 34.58% | 35.29% | 13.64% | 26.32% | 17.79% | 22.65% | 30.6% | 20.15% | 21.25% |
| EPS 2 | - | 0.2570 | 0.0410 | 0.1260 | 0.0740 | 0.1020 | 0.1600 | 0.0750 | 0.0970 |
| Dividend per Share | - | 0.0700 | - | - | - | - | - | - | - |
| Announcement Date | 8/27/20 | 4/1/22 | 4/28/22 | 8/30/22 | 10/27/22 | 4/25/23 | 4/25/23 | 8/30/23 | 10/30/23 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| 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) | 6.48% | 8.63% | 9.9% | 4.17% | 5.39% | 4.11% | 5.03% | 5.47% |
| ROA (Net income/ Total Assets) | - | 3.16% | 2.97% | - | - | - | - | - |
| Assets 1 | - | 58,888 | 77,972 | - | - | - | - | - |
| Book Value Per Share 2 | 6.850 | 7.430 | 8.070 | 8.360 | 8.740 | 9.000 | 9.480 | 9.680 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 4/1/20 | 4/1/21 | 4/1/22 | 4/25/23 | 4/24/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
8.77
CNY
Average target price
10.62
CNY
Spread / Average Target
+21.05%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -3.41% | 4.47B | |
| -6.55% | 28.58B | |
| -6.85% | 15.75B | |
| +5.81% | 14.3B | |
| +40.11% | 12.44B | |
| -19.22% | 11.55B | |
| -3.68% | 9.03B | |
| -13.34% | 6.98B | |
| +5.18% | 5.82B | |
| -3.56% | 5.76B |
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- Financials Sinolink Securities Co., Ltd.
