Financials XTC New Energy Materials(Xiamen) 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
34.51 ^CNY	+4.42%		+5.89%	-12.94%

Apr. 17	XTC New Energy Materials(Xiamen) Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 02	Tranche Update on XTC New Energy Materials(Xiamen) Co.,Ltd.'s Equity Buyback Plan announced on February 28, 2024.	CI

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	26,000	23,347	16,679	14,521	-	-
Enterprise Value (EV) ¹	26,000	23,347	16,679	14,521	14,521	14,521
P/E ratio	39 x	18.6 x	31.7 x	17.3 x	13.8 x	11.1 x
Yield	0.48%	0.64%	1.77%	1.45%	1.31%	1.45%
Capitalization / Revenue	1.67 x	0.81 x	0.96 x	0.75 x	0.63 x	0.55 x
EV / Revenue	1.67 x	0.81 x	0.96 x	0.75 x	0.63 x	0.55 x
EV / EBITDA	-	15.1 x	18.1 x	10.6 x	8.72 x	7.11 x
EV / FCF	-209 x	-10.6 x	11.6 x	63.4 x	-13.2 x	-
FCF Yield	-0.48%	-9.47%	8.6%	1.58%	-7.55%	-
Price to Book	6.96 x	2.85 x	1.94 x	1.58 x	1.42 x	1.31 x
Nbr of stocks (in thousands)	352,201	420,771	420,771	420,771	-	-
Reference price ²	73.82	55.49	39.64	34.51	34.51	34.51
Announcement Date	1/25/22	1/19/23	1/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	15,566	28,751	17,311	19,309	22,998	26,331
EBITDA ¹	-	-	1,542	922.5	1,373	1,665	2,042
EBIT ¹	-	617.5	1,240	560.4	903.2	1,143	1,402
Operating Margin	-	3.97%	4.31%	3.24%	4.68%	4.97%	5.33%
Earnings before Tax (EBT) ¹	-	612.9	1,241	558.6	903	1,143	1,402
Net income ¹	250.5	555.3	1,121	527.5	838.8	1,051	1,307
Net margin	-	3.57%	3.9%	3.05%	4.34%	4.57%	4.96%
EPS ²	0.9714	1.893	2.986	1.250	1.994	2.496	3.107
Free Cash Flow ¹	-	-124.2	-2,212	1,435	229	-1,097	-
FCF margin	-	-0.8%	-7.69%	8.29%	1.19%	-4.77%	-
FCF Conversion (EBITDA)	-	-	-	155.55%	16.68%	-	-
FCF Conversion (Net income)	-	-	-	272.05%	27.3%	-	-
Dividend per Share ²	-	0.3571	0.3571	0.7000	0.5000	0.4533	0.5000
Announcement Date	7/18/21	1/25/22	1/19/23	1/17/24	-	-	-

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 ¹	-	-124	-2,212	1,435	229	-1,097	-
ROE (net income / shareholders' equity)	-	18.7%	20.9%	6.3%	9.15%	10.6%	12%
ROA (Net income/ Total Assets)	-	-	-	-	4.79%	5.94%	7.73%
Assets ¹	-	-	-	-	17,512	17,697	16,904
Book Value Per Share ²	-	10.60	19.50	20.40	21.80	24.20	26.30
Cash Flow per Share ²	-	-	-3.710	6.130	2.760	3.150	3.070
Capex ¹	-	556	651	1,145	1,254	1,330	397
Capex / Sales	-	3.57%	2.26%	6.62%	6.49%	5.79%	1.51%
Announcement Date	7/18/21	1/25/22	1/19/23	1/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

34.51 CNY

Average target price

38.47 CNY

Spread / Average Target

+11.47%

	1st Jan change	Capi.
XTC NEW ENERGY MATERIALS(XIAMEN) CO.,LTD.	-12.94%	2B
ECOLAB INC.	+11.47%	63.22B
SIKA AG	-3.47%	46.34B
GIVAUDAN SA	+13.72%	39.97B
FUJIFILM HOLDINGS CORPORATION	+17.83%	25.46B
EMS-CHEMIE HOLDING AG	+7.27%	18.68B
CELANESE CORPORATION	-0.57%	17.24B
POSCO FUTURE M CO., LTD.	-21.73%	15.81B
SYMRISE AG	+0.22%	14.9B
ALBEMARLE CORPORATION	-19.10%	13.74B