Financials Wuxi Shangji Automation Co., Ltd. Shanghai S.E.

Equities

CNE100003JF9

Renewable Energy Equipment & Services

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-30 pm EDT			5-day change	1st Jan Change
21.13 ^HKD	-1.03%		-1.95%	-36.51%

Apr. 29	Hoyuan Green Energy Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 25	Hoyuan Green Energy Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	45,957	43,489	19,230	14,451	-	-
Enterprise Value (EV) ¹	44,072	39,169	14,671	13,841	12,660	14,451
P/E ratio	-	13.6 x	26.2 x	48 x	12.8 x	20.9 x
Yield	1.2%	2.31%	0.06%	3.5%	1.94%	-
Capitalization / Revenue	4.21 x	1.98 x	1.62 x	0.91 x	0.7 x	0.54 x
EV / Revenue	4.04 x	1.79 x	1.24 x	0.87 x	0.61 x	0.54 x
EV / EBITDA	20.2 x	10.3 x	12 x	10.8 x	4.26 x	6.82 x
EV / FCF	-	19,591,676 x	-	-	-	-
FCF Yield	-	0%	-	-	-	-
Price to Book	6.18 x	3.47 x	1.6 x	1.2 x	0.87 x	1.14 x
Nbr of stocks (in thousands)	538,437	574,118	577,815	683,887	-	-
Reference price ²	85.35	75.75	33.28	21.13	21.13	21.13
Announcement Date	2/15/22	4/10/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	10,915	21,909	11,859	15,901	20,754	26,672
EBITDA ¹	2,182	3,806	1,223	1,280	2,973	2,119
EBIT ¹	1,947	3,411	698.2	359.8	1,415	816.2
Operating Margin	17.84%	15.57%	5.89%	2.26%	6.82%	3.06%
Earnings before Tax (EBT) ¹	-	3,330	694.6	356.1	1,300	812.6
Net income ¹	-	3,033	740.6	302.7	1,149	690.7
Net margin	-	13.84%	6.24%	1.9%	5.54%	2.59%
EPS ²	-	5.575	1.272	0.4400	1.645	1.010
Free Cash Flow	-	1,999	-	-	-	-
FCF margin	-	9.13%	-	-	-	-
FCF Conversion (EBITDA)	-	52.53%	-	-	-	-
FCF Conversion (Net income)	-	65.91%	-	-	-	-
Dividend per Share ²	1.022	1.753	0.0200	0.7400	0.4100	-
Announcement Date	2/15/22	4/10/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	2,281	2,191	2,652	2,766	2,629
EBITDA	-	-	-	-	-
EBIT	-	-	-	-	-
Operating Margin	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-
Net income	-	-141.4	-	-	-
Net margin	-	-6.45%	-	-	-
EPS ²	-1.010	-0.1920	0.2100	0.1800	0.1500
Dividend per Share	-	-	-	-	-
Announcement Date	4/25/24	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-
Net Cash position ¹	1,886	4,319	4,558	610	1,791	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	1,999	-	-	-	-
ROE (net income / shareholders' equity)	27.6%	32.6%	6.03%	2.52%	7.02%	5.45%
ROA (Net income/ Total Assets)	-	-	-	5.6%	6%	-
Assets ¹	-	-	-	5,405	19,151	-
Book Value Per Share ²	13.80	21.80	20.80	17.60	24.40	18.50
Cash Flow per Share ²	-	5.150	0.8500	5.080	8.050	-1.650
Capex ¹	-	956	-	3,444	3,428	1,746
Capex / Sales	-	4.36%	-	21.66%	16.52%	6.55%
Announcement Date	2/15/22	4/10/23	4/25/24	-	-	-

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

Ratings for Wuxi Shangji Automation Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

21.13 CNY

Average target price

28.02 CNY

Spread / Average Target

+32.63%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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