Financials Chengdu Xingrong Environment Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-07 pm EDT			5-day change	1st Jan Change
7.35 ^CNY	-1.21%		+3.09%	+29.17%

Apr. 25	Chengdu Xingrong Environment Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Mar. 01	Chengdu Xingrong Environment's Profit Rises 14% in 2023	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	13,745	14,249	18,761	14,516	16,891	22,112	-	-
Enterprise Value (EV) ¹	13,745	14,249	18,761	14,516	16,891	22,112	22,112	22,112
P/E ratio	12.9 x	11.2 x	12.6 x	9.02 x	9.18 x	10.2 x	9.3 x	8.65 x
Yield	1.94%	2.08%	1.61%	2.29%	-	-	-	-
Capitalization / Revenue	2.84 x	2.65 x	2.79 x	1.9 x	2.09 x	2.41 x	2.21 x	2.05 x
EV / Revenue	2.84 x	2.65 x	2.79 x	1.9 x	2.09 x	2.41 x	2.21 x	2.05 x
EV / EBITDA	6.78 x	6.01 x	6.66 x	4.2 x	4.84 x	5.25 x	4.55 x	4.15 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.23 x	1.17 x	1.4 x	0.99 x	1.02 x	1.2 x	1.09 x	1 x
Nbr of stocks (in thousands)	2,968,576	2,968,576	2,968,576	2,968,576	2,968,576	2,968,006	-	-
Reference price ²	4.630	4.800	6.320	4.890	5.690	7.350	7.350	7.350
Announcement Date	3/3/20	2/23/21	3/1/22	2/28/23	2/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,838	5,371	6,732	7,630	8,087	9,178	10,015	10,775
EBITDA ¹	2,027	2,372	2,819	3,458	3,488	4,211	4,857	5,332
EBIT ¹	1,303	1,562	1,771	1,972	2,173	2,523	2,783	2,976
Operating Margin	26.94%	29.08%	26.3%	25.85%	26.87%	27.49%	27.79%	27.62%
Earnings before Tax (EBT) ¹	1,311	1,566	1,774	1,963	2,182	2,532	2,792	2,986
Net income ¹	1,081	1,298	1,494	1,618	1,843	2,139	2,359	2,522
Net margin	22.35%	24.18%	22.2%	21.2%	22.8%	23.31%	23.55%	23.41%
EPS ²	0.3600	0.4300	0.5000	0.5419	0.6200	0.7200	0.7900	0.8500
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	0.0900	0.1000	0.1020	0.1120	-	-	-	-
Announcement Date	3/3/20	2/23/21	3/1/22	2/28/23	2/28/24	-	-	-

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)	10%	11%	11.6%	11.5%	11.9%	11.3%	11.4%	11.1%
ROA (Net income/ Total Assets)	4.68%	4.62%	4.55%	4.44%	-	-	-	-
Assets ¹	23,129	28,116	32,861	36,425	-	-	-	-
Book Value Per Share ²	3.770	4.110	4.510	4.950	5.570	6.120	6.720	7.340
Cash Flow per Share ²	0.6300	0.9200	0.9100	1.110	1.140	1.460	1.560	1.830
Capex ¹	2,989	3,972	3,745	4,191	4,443	4,559	3,943	3,856
Capex / Sales	61.79%	73.95%	55.63%	54.93%	54.94%	49.67%	39.37%	35.79%
Announcement Date	3/3/20	2/23/21	3/1/22	2/28/23	2/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

7.35 CNY

Average target price

8.64 CNY

Spread / Average Target

+17.55%

	1st Jan change	Capi.
CHENGDU XINGRONG ENVIRONMENT CO., LTD.	+29.17%	3.02B
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