Financials Zhejiang Jingsheng Mechanical & Electrical Co., Ltd.

Equities

300316

CNE100001DJ8

Semiconductor Equipment & Testing

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
33.7 CNY +12.52% Intraday chart for Zhejiang Jingsheng Mechanical & Electrical Co., Ltd. +8.39% -23.57%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 20,149 38,658 89,327 83,025 57,644 44,058 - -
Enterprise Value (EV) 1 19,644 37,388 87,136 80,608 55,453 42,280 37,397 41,179
P/E ratio 31.4 x 44.9 x 52.3 x 28.1 x 12.6 x 8.19 x 6.95 x 6.84 x
Yield 0.64% 0.45% 0.4% 0.71% 1.59% 2.39% 2.52% -
Capitalization / Revenue 6.48 x 10.1 x 15 x 7.8 x 3.21 x 2 x 1.73 x 1.52 x
EV / Revenue 6.32 x 9.81 x 14.6 x 7.58 x 3.08 x 1.92 x 1.47 x 1.42 x
EV / EBITDA 23.2 x 33 x 40.6 x 21 x 8.56 x 5.74 x 4.49 x 4.47 x
EV / FCF - 48.2 x 82.5 x -80.3 x 87.6 x 10.4 x 8.09 x -
FCF Yield - 2.07% 1.21% -1.25% 1.14% 9.65% 12.4% -
Price to Book 4.44 x 7.38 x 13.1 x 7.72 x 3.86 x 2.23 x 1.78 x 1.46 x
Nbr of stocks (in thousands) 1,281,719 1,285,174 1,285,275 1,306,244 1,307,421 1,307,360 - -
Reference price 2 15.72 30.08 69.50 63.56 44.09 33.70 33.70 33.70
Announcement Date 2/27/20 4/6/21 3/8/22 3/14/23 4/12/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,110 3,811 5,961 10,638 17,983 21,991 25,519 28,938
EBITDA 1 846.1 1,134 2,146 3,845 6,481 7,370 8,332 9,209
EBIT 1 732.5 998 1,992 3,448 5,948 6,758 7,585 8,259
Operating Margin 23.56% 26.19% 33.42% 32.41% 33.07% 30.73% 29.72% 28.54%
Earnings before Tax (EBT) 1 721.2 991.7 1,984 3,419 5,955 7,199 7,559 8,647
Net income 1 637.4 858.2 1,712 2,924 4,558 5,444 6,611 6,580
Net margin 20.5% 22.52% 28.71% 27.48% 25.34% 24.76% 25.91% 22.74%
EPS 2 0.5000 0.6700 1.330 2.260 3.490 4.113 4.848 4.925
Free Cash Flow 1 - 775.4 1,056 -1,004 633.3 4,082 4,622 -
FCF margin - 20.35% 17.71% -9.44% 3.52% 18.56% 18.11% -
FCF Conversion (EBITDA) - 68.35% 49.22% - 9.77% 55.39% 55.47% -
FCF Conversion (Net income) - 90.36% 61.69% - 13.89% 74.98% 69.91% -
Dividend per Share 2 0.1000 0.1350 0.2800 0.4500 0.7000 0.8042 0.8492 -
Announcement Date 2/27/20 4/6/21 3/8/22 3/14/23 4/12/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 - - 2,418 - 3,093 3,176 3,600 4,807 5,055 4,521 4,510 4,836 6,182 6,384 4,571 5,672
EBITDA 1 - - 824 - 1,019 - - - - - - 1,677 2,099 1,991 1,577 1,894
EBIT 1 - - 864.5 - 980.3 1,074 1,133 1,685 1,799 1,330 1,512 1,529 1,952 1,843 1,402 1,719
Operating Margin - - 35.76% - 31.7% 33.83% 31.48% 35.06% 35.59% 29.42% 33.53% 31.62% 31.57% 28.87% 30.68% 30.31%
Earnings before Tax (EBT) - - - - 980.8 1,044 - - - - - - - - - -
Net income 600.3 442.3 - 1,207 801.6 915.1 - - 1,308 - - - - - - -
Net margin - - - - 25.92% 28.82% - - 25.87% - - - - - - -
EPS 2 - - 0.6000 - 0.6200 0.7000 0.6800 1.010 1.000 0.8000 0.8200 0.9000 0.8600 1.050 0.8143 1.229
Dividend per Share 2 - - - - - 0.4500 - - - - - - - 0.8127 - -
Announcement Date 8/26/21 4/26/22 8/26/22 8/26/22 10/24/22 3/14/23 4/27/23 8/21/23 10/25/23 4/12/24 4/25/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 505 1,270 2,191 2,417 2,191 1,778 6,661 2,879
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - 775 1,056 -1,004 633 4,082 4,622 -
ROE (net income / shareholders' equity) 15% 17.5% 28.5% 33.8% 35.6% 30.3% 26.8% 22.7%
ROA (Net income/ Total Assets) 8.98% 9.35% 12.5% 12.8% - 13.3% 12.3% -
Assets 1 7,099 9,180 13,644 22,885 - 40,830 53,604 -
Book Value Per Share 2 3.540 4.080 5.310 8.230 11.40 15.10 18.90 23.10
Cash Flow per Share 2 0.6100 0.7400 1.350 1.000 2.360 6.500 7.990 8.500
Capex 1 78.5 179 681 2,318 2,455 2,020 1,897 1,726
Capex / Sales 2.52% 4.69% 11.42% 21.78% 13.65% 9.18% 7.43% 5.96%
Announcement Date 2/27/20 4/6/21 3/8/22 3/14/23 4/12/24 - - -
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

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
33.7 CNY
Average target price
40.58 CNY
Spread / Average Target
+20.43%
Consensus
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