CHINA GREEN ELECTRICITY INVESTMENT OF TIANJIN CO., LTD.

Financials China Green Electricity Investment of Tianjin Co., Ltd.

Equities

000537

CNE000000271

Electric Utilities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
9.31 ^CNY	-3.52%		-0.21%	-3.32%

Apr. 30	China Green Electricity Investment of Tianjin Co., Ltd. Proposes Final Dividend for 2023	CI
Apr. 29	China Green Electricity Investment of Tianjin Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Valuation

Fiscal Period: December	2020	2022	2023	2024	2025	2026
Capitalization ¹	11,678	24,641	17,936	17,806	-	-
Enterprise Value (EV) ¹	11,678	24,641	17,936	17,806	17,806	17,806
P/E ratio	5.27 x	38.9 x	19.7 x	15.8 x	11.8 x	9.22 x
Yield	-	-	1.87%	2.58%	3.01%	3.44%
Capitalization / Revenue	-	-	4.86 x	3.33 x	2.1 x	1.59 x
EV / Revenue	-	-	4.86 x	3.33 x	2.1 x	1.59 x
EV / EBITDA	-	-	7.3 x	4.32 x	2.89 x	2.23 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	-	-	1.05 x	0.96 x	0.91 x	0.85 x
Nbr of stocks (in thousands)	1,862,521	1,862,521	1,862,521	1,862,521	-	-
Reference price ²	6.270	13.23	9.630	9.310	9.310	9.310
Announcement Date	4/29/21	3/12/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2022	2023	2024	2025	2026
Net sales ¹	-	-	3,691	5,351	8,483	11,217
EBITDA ¹	-	-	2,457	4,121	6,156	7,995
EBIT ¹	-	-	1,150	1,417	2,328	3,345
Operating Margin	-	-	31.17%	26.48%	27.44%	29.82%
Earnings before Tax (EBT) ¹	-	-	1,168	1,432	2,343	3,360
Net income ¹	2,212	632.7	919.6	1,092	1,476	1,877
Net margin	-	-	24.92%	20.41%	17.4%	16.73%
EPS ²	1.190	0.3400	0.4900	0.5900	0.7900	1.010
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	-	0.1800	0.2400	0.2800	0.3200
Announcement Date	4/29/21	3/12/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	-	5.48%	6.04%	7.73%	9.17%
ROA (Net income/ Total Assets)	-	-	-	1.16%	1.26%	1.42%
Assets ¹	-	-	-	94,138	117,143	132,183
Book Value Per Share ²	-	-	9.210	9.700	10.30	11.00
Cash Flow per Share ²	-	-	1.360	2.250	4.260	4.820
Capex ¹	-	-	24,947	24,390	22,784	16,318
Capex / Sales	-	-	675.95%	455.8%	268.58%	145.48%
Announcement Date	4/29/21	3/12/23	4/29/24	-	-	-

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 China Green Electricity Investment of Tianjin Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

D+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

9.31 CNY

Average target price

11.8 CNY

Spread / Average Target

+26.75%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Wind Electric Utilities

	1st Jan change	Capi.
CHINA GREEN ELECTRICITY INVESTMENT OF TIANJIN CO., LTD.	-3.32%	2.4B
CHINA THREE GORGES RENEWABLES (GROUP) CO.,LTD.	+8.47%	18.55B
CHINA LONGYUAN POWER GROUP CORPORATION LIMITED	-1.01%	15.11B
TERNA ENERGY S.A.	+15.28%	2.32B
JIANGSU NEW ENERGY DEVELOPMENT CO., LTD.	+4.01%	1.38B
MOGAN ENERJI YATIRIM HOLDING ANONIM SIRKETI	0.00%	1.32B
INNERGEX RENEWABLE ENERGY INC.	-6.09%	1.26B
ZHONGMIN ENERGY CO., LTD.	+5.49%	1.19B
SERENA ENERGIA S.A.	-10.77%	1.06B
GREENCOAT RENEWABLES PLC	-15.16%	1.06B

Wind Electric Utilities