Financials Zhenjiang Dongfang Electric Heating Technology Co.,Ltd

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
4.7 ^CNY	+0.21%		-1.47%	-12.64%

Apr. 25	Zhenjiang Dongfang Electric Heating Technology Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Mar. 28	Zhenjiang Dongfang Electric Heating Technology Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Capitalization ¹	4,686	8,143	8,435	7,945	6,895	-
Enterprise Value (EV) ¹	4,686	8,143	8,435	7,945	6,895	6,895
P/E ratio	73.6 x	43.5 x	28.4 x	12.5 x	14.2 x	10.8 x
Yield	-	-	-	1.26%	1.06%	2.2%
Capitalization / Revenue	-	-	2.21 x	1.93 x	1.58 x	1.07 x
EV / Revenue	-	-	2.21 x	1.93 x	1.58 x	1.07 x
EV / EBITDA	-	-	-	8.69 x	9.32 x	8.51 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	-	-	2.56 x	2.05 x	1.54 x	1.54 x
Nbr of stocks (in thousands)	1,273,494	1,441,217	1,487,707	1,476,693	1,466,964	-
Reference price ²	3.680	5.650	5.670	5.380	4.700	4.700
Announcement Date	4/23/21	4/25/22	4/4/23	3/28/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net sales ¹	-	-	3,819	4,106	4,358	6,451
EBITDA ¹	-	-	-	913.7	740	810
EBIT ¹	-	-	329.1	795.5	597.2	740.5
Operating Margin	-	-	8.62%	19.37%	13.7%	11.48%
Earnings before Tax (EBT) ¹	-	-	330.8	782.7	598.5	741.8
Net income ¹	60.43	173.8	301.7	643.5	489	647.5
Net margin	-	-	7.9%	15.67%	11.22%	10.04%
EPS ²	0.0500	0.1300	0.2000	0.4300	0.3300	0.4350
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.0680	0.0500	0.1033
Announcement Date	4/23/21	4/25/22	4/4/23	3/28/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	-	10.1%	17.9%	11.6%	15.1%
ROA (Net income/ Total Assets)	-	-	-	-	6.3%	6.17%
Assets ¹	-	-	-	-	7,762	10,503
Book Value Per Share ²	-	-	2.210	2.630	3.050	3.060
Cash Flow per Share ²	-	-	0.4700	0.0400	0.5400	0.4800
Capex ¹	-	-	265	161	333	83
Capex / Sales	-	-	6.95%	3.93%	7.64%	1.29%
Announcement Date	4/23/21	4/25/22	4/4/23	3/28/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4.7 CNY

Average target price

6.445 CNY

Spread / Average Target

+37.13%

	1st Jan change	Capi.
ZHENJIANG DONGFANG ELECTRIC HEATING TECHNOLOGY CO.,LTD	-12.64%	952M
TRANE TECHNOLOGIES PLC	+23.35%	68.32B
CARRIER GLOBAL CORPORATION	+9.16%	56.5B
JOHNSON CONTROLS INTERNATIONAL PLC	+13.31%	44.51B
DAIKIN INDUSTRIES, LTD.	-5.39%	39.54B
LENNOX INTERNATIONAL INC.	+6.66%	17B
WATSCO, INC.	+4.52%	16.45B
A. O. SMITH CORPORATION	+2.27%	12.37B
NIBE INDUSTRIER AB	-26.41%	9.61B
AAON, INC.	+27.05%	7.71B