DONGFENG MOTOR GROUP

489
End-of-day quote. End-of-day quote  - 01/20
7.14HKD +2.29%
Valuation
Fiscal Period: December 2020 2021
Capitalization1 65 55650 098
Enterprise Value (EV)2 54 40169 484
P/E ratio 6,07x3,91x
Yield 1,31%8,42%
Capitalization / Revenue 0,61x0,42x
EV / Revenue 0,50x0,58x
EV / EBITDA 13,2x13,6x
Price to Book 0,48x0,34x
Nbr of stocks (in thousands) 8 616 1208 616 120
Reference price (CNY) 7,615,81
Announcement Date 03/29/2021-
Previous period Next period
1 HKD in Million
2 CNY in Million
Estimates
Income Statement Evolution
Annual Income Statement Data
Fiscal Period: December 2020 2021
Net sales1 107 964120 054
EBITDA1 4 1345 102
Operating profit (EBIT)1 9375 250
Operating Margin 0,87%4,37%
Pre-Tax Profit (EBT)1 12 21814 812
Net income1 10 79212 895
Net margin 10,00%10,7%
EPS2 1,251,49
Dividend per Share2 0,100,49
Announcement Date 03/29/2021-
Previous period Next period
1 CNY in Million
2 CNY
Finances - Leverage
Fiscal Period: December 2020 2021
Net Debt1 -19 386
Net Cash position1 11 155-
Leverage (Debt / EBITDA) -2,70x3,80x
Free Cash Flow1 -4 302-6 484
ROE (Net Profit / Equities) 8,19%9,10%
Shareholders' equity1 131 795141 727
ROA (Net Profit / Asset) 3,67%4,37%
Assets1 294 260295 384
Book Value Per Share2 15,817,4
Cash Flow per Share2 0,14-0,21
Capex1 4 0395 165
Capex / Sales 3,74%4,30%
Announcement Date 03/29/2021-
Previous period Next period
1 CNY in Million
2 CNY
Financial Ratios
Size 2021e 2022e
Capitalization 50 098 M CNY -
Enterprise Value (EV) 69 484 M CNY 70 585 M CNY
Valuation 2021e 2022e
P/E ratio (Price / EPS) 3,91x 3,64x
Capitalization / Revenue 0,42x 0,40x
EV / Revenue 0,58x 0,56x
EV / EBITDA 13,6x 13,6x
Yield (DPS / Price) 8,42% 8,73%
Price to book (Price / BVPS) 0,34x 0,31x
Profitability 2021e 2022e
Operating Margin (EBIT / Sales) 4,37% 3,89%
Operating Leverage (Delta EBIT / Delta Sales) 41,1x -
Net Margin (Net Profit / Revenue) 10,7% 11,1%
ROA (Net Profit / Asset) 4,37% 4,12%
ROE (Net Profit / Equities) 9,10% 9,06%
Rate of Dividend 32,9% 31,8%
Balance Sheet Analysis 2021e 2022e
CAPEX / Sales   4,30% 4,54%
Cash Flow / Sales -1,52% 3,37%
Capital Intensity (Assets / Sales) 2,46x 2,70x
Financial Leverage (Net Debt / EBITDA) 3,80x 4,00x
Price Earning Ratio
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
EPS & Dividend