Financials An Hui Wenergy Company Limited

Equities

000543

CNE000000DF9

Independent Power Producers

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-12 pm EDT			5-day change	1st Jan Change
8.78 ^CNY	+4.28%		+3.54%	+40.26%

Apr. 30	Anhui Wenergy Fenghe Fusion Technology Partnership Enterprise (Limited Partnership) agreed to acquire 10% stake in Fusion New Energy Co., Ltd. from An Hui Wenergy Company Limited.	CI
Apr. 29	An Hui Wenergy Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	10,518	9,475	12,604	10,156	14,191	19,903	-	-
Enterprise Value (EV) ¹	10,518	9,475	12,604	10,156	14,191	19,903	19,903	19,903
P/E ratio	11.9 x	9.29 x	-9.42 x	23.6 x	9.94 x	10.7 x	9.44 x	8.74 x
Yield	2.56%	1.82%	-	-	3.53%	2.96%	3.08%	3.19%
Capitalization / Revenue	0.65 x	0.57 x	0.6 x	0.42 x	0.51 x	0.69 x	0.63 x	0.62 x
EV / Revenue	0.65 x	0.57 x	0.6 x	0.42 x	0.51 x	0.69 x	0.63 x	0.62 x
EV / EBITDA	3.9 x	3.19 x	-29.7 x	7.74 x	3.94 x	3.97 x	3.62 x	3.26 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.78 x	0.65 x	1.01 x	0.81 x	1.02 x	1.29 x	1.16 x	1.03 x
Nbr of stocks (in thousands)	2,266,863	2,266,863	2,266,863	2,266,863	2,266,863	2,266,863	-	-
Reference price ²	4.640	4.180	5.560	4.480	6.260	8.780	8.780	8.780
Announcement Date	4/25/20	3/25/21	4/27/22	4/27/23	4/15/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	16,092	16,752	21,032	24,276	27,867	28,841	31,377	31,893
EBITDA ¹	2,695	2,973	-424	1,312	3,602	5,009	5,491	6,100
EBIT ¹	1,265	1,557	-2,513	114.8	1,893	2,743	3,169	3,419
Operating Margin	7.86%	9.29%	-11.95%	0.47%	6.79%	9.51%	10.1%	10.72%
Earnings before Tax (EBT) ¹	1,286	1,561	-2,578	120.1	1,829	2,722	3,147	3,397
Net income ¹	773.9	1,014	-1,337	425.1	1,430	1,858	2,108	2,280
Net margin	4.81%	6.05%	-6.36%	1.75%	5.13%	6.44%	6.72%	7.15%
EPS ²	0.3900	0.4500	-0.5900	0.1900	0.6300	0.8200	0.9300	1.005
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1190	0.0760	-	-	0.2210	0.2600	0.2700	0.2800
Announcement Date	4/25/20	3/25/21	4/27/22	4/27/23	4/15/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 S1
Net sales	-	-	-
EBITDA	-	-	-
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	-	-
Net income ¹	-826.8	137.6	269.4
Net margin	-	-	-
EPS	-	-	0.1189
Dividend per Share	-	-	-
Announcement Date	4/27/22	4/27/22	8/24/22

¹CNY in Million

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)	6.76%	7.25%	-9.94%	3.39%	10.4%	12%	12.2%	11.8%
ROA (Net income/ Total Assets)	-	3.04%	-	-	-	2.51%	3.14%	2.62%
Assets ¹	-	33,297	-	-	-	74,034	67,145	87,032
Book Value Per Share ²	5.950	6.390	5.490	5.560	6.110	6.820	7.600	8.520
Cash Flow per Share ²	1.180	1.300	-0.4700	1.270	0.7500	1.790	2.180	2.360
Capex ¹	489	1,063	2,684	4,630	6,526	4,235	3,022	3,030
Capex / Sales	3.04%	6.34%	12.76%	19.07%	23.42%	14.68%	9.63%	9.5%
Announcement Date	4/25/20	3/25/21	4/27/22	4/27/23	4/15/24	-	-	-

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 An Hui Wenergy Company Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

8.78 CNY

Average target price

8.545 CNY

Spread / Average Target

-2.68%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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