Financials Canmax Technologies Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
19.99 ^CNY	+1.68%		+4.55%	-21.14%

Apr. 24	Canmax Technologies Co., Ltd. Proposes Final Dividend for the Year 2023	CI
Apr. 23	Canmax Technologies Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,456	13,561	47,213	35,786	21,232	16,618	-	-
Enterprise Value (EV) ¹	3,456	13,561	47,213	35,786	21,232	16,618	16,618	16,618
P/E ratio	57 x	47.3 x	50.9 x	4.98 x	12.7 x	12.8 x	12.1 x	-
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	4.56 x	10.3 x	13.9 x	-	2.03 x	2.1 x	1.43 x	0.94 x
EV / Revenue	4.56 x	10.3 x	13.9 x	-	2.03 x	2.1 x	1.43 x	0.94 x
EV / EBITDA	30.6 x	36.7 x	30.1 x	-	7.77 x	7.85 x	7.35 x	5.02 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.92 x	11.2 x	14.6 x	-	1.78 x	1.26 x	1.16 x	1.03 x
Nbr of stocks (in thousands)	716,659	716,659	757,745	832,524	837,537	831,337	-	-
Reference price ²	4.823	18.92	62.31	42.98	25.35	19.99	19.99	19.99
Announcement Date	4/20/20	2/24/21	2/7/22	3/28/23	4/23/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	758.1	1,313	3,398	-	10,468	7,920	11,602	17,671
EBITDA ¹	113	369.3	1,570	-	2,733	2,116	2,261	3,308
EBIT ¹	74.71	328	1,470	-	2,474	1,816	1,958	3,010
Operating Margin	9.85%	24.98%	43.25%	-	23.64%	22.93%	16.88%	17.03%
Earnings before Tax (EBT) ¹	74.56	327.8	1,471	-	2,470	1,815	1,956	3,007
Net income ¹	61.84	286	910.7	6,586	1,659	1,308	1,383	2,105
Net margin	8.16%	21.78%	26.8%	-	15.85%	16.52%	11.92%	11.91%
EPS ²	0.0846	0.4000	1.223	8.631	1.990	1.560	1.650	-
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	4/20/20	2/24/21	2/7/22	3/28/23	4/23/24	-	-	-

¹CNY in Million²CNY

Estimates

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)	6.86%	27.9%	40.9%	-	14%	10.4%	10%	13.8%
ROA (Net income/ Total Assets)	5.42%	15.7%	-	-	-	-	-	-
Assets ¹	1,140	1,819	-	-	-	-	-	-
Book Value Per Share ²	1.230	1.690	4.280	-	14.30	15.80	17.20	19.40
Cash Flow per Share ²	0.2100	0.4900	0.2400	-	4.980	2.230	2.080	-
Capex ¹	58.9	88.3	793	-	2,364	590	878	451
Capex / Sales	7.76%	6.72%	23.35%	-	22.58%	7.46%	7.57%	2.55%
Announcement Date	4/20/20	2/24/21	2/7/22	3/28/23	4/23/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

19.99 CNY

Average target price

21.4 CNY

Spread / Average Target

+7.05%

	1st Jan change	Capi.
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