Financials Huaibei Mining Holdings Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
17.87 ^CNY	-2.03%		-10.74%	+7.46%

Mar. 29	Huaibei Mining's Profit Slips, Operating Income Climbs in 2023	MT
Mar. 28	Huaibei Mining Holdings 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	21,702	24,310	27,738	31,757	41,260	48,129	-	-
Enterprise Value (EV) ¹	21,702	24,310	27,738	31,757	41,260	48,129	48,129	48,129
P/E ratio	5.95 x	7.77 x	5.48 x	4.79 x	7.08 x	7.75 x	6.95 x	6.69 x
Yield	-	5.81%	6.26%	8.2%	-	6.21%	6.55%	7.33%
Capitalization / Revenue	0.36 x	0.47 x	0.43 x	0.46 x	0.56 x	0.65 x	0.64 x	0.61 x
EV / Revenue	0.36 x	0.47 x	0.43 x	0.46 x	0.56 x	0.65 x	0.64 x	0.61 x
EV / EBITDA	-	-	-	2.45 x	3.59 x	4.41 x	3.91 x	3.85 x
EV / FCF	-	-	-	-	-	8.1 x	10.3 x	11.1 x
FCF Yield	-	-	-	-	-	12.4%	9.72%	9%
Price to Book	-	1.14 x	1.02 x	0.95 x	-	1.17 x	1.02 x	0.98 x
Nbr of stocks (in thousands)	2,172,412	2,172,457	2,481,036	2,481,036	2,481,038	2,693,259	-	-
Reference price ²	9.990	11.19	11.18	12.80	16.63	17.87	17.87	17.87
Announcement Date	3/27/20	3/26/21	3/22/22	3/28/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	60,086	52,276	64,961	69,225	73,592	73,586	75,682	79,280
EBITDA ¹	-	-	-	12,954	11,493	10,909	12,303	12,495
EBIT ¹	-	4,331	6,214	8,633	7,072	7,046	7,970	8,320
Operating Margin	-	8.28%	9.57%	12.47%	9.61%	9.57%	10.53%	10.49%
Earnings before Tax (EBT) ¹	-	4,290	6,043	8,257	7,056	7,085	7,821	8,268
Net income ¹	-	3,468	4,780	7,010	6,225	6,305	6,704	7,114
Net margin	-	6.63%	7.36%	10.13%	8.46%	8.57%	8.86%	8.97%
EPS ²	1.680	1.440	2.040	2.670	2.350	2.306	2.571	2.672
Free Cash Flow ¹	-	-	-	-	-	5,944	4,676	4,330
FCF margin	-	-	-	-	-	8.08%	6.18%	5.46%
FCF Conversion (EBITDA)	-	-	-	-	-	54.49%	38.01%	34.65%
FCF Conversion (Net income)	-	-	-	-	-	94.28%	69.75%	60.87%
Dividend per Share ²	-	0.6500	0.7000	1.050	-	1.110	1.170	1.310
Announcement Date	3/27/20	3/26/21	3/22/22	3/28/23	3/28/24	-	-	-

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 ¹	-	-	-	-	-	5,944	4,676	4,330
ROE (net income / shareholders' equity)	-	17%	19.7%	23.1%	-	15.1%	14.6%	14.6%
ROA (Net income/ Total Assets)	-	5.3%	6.81%	8.9%	-	7.12%	7.26%	7.37%
Assets ¹	-	65,481	70,238	78,749	-	88,551	92,403	96,565
Book Value Per Share ²	-	9.800	11.00	13.50	-	15.30	17.50	18.30
Cash Flow per Share ²	-	2.290	4.460	6.720	-	3.110	5.540	4.180
Capex ¹	-	5,536	5,472	7,160	-	4,019	4,916	3,678
Capex / Sales	-	10.59%	8.42%	10.34%	-	5.46%	6.5%	4.64%
Announcement Date	3/27/20	3/26/21	3/22/22	3/28/23	3/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

17.87 CNY

Average target price

21.5 CNY

Spread / Average Target

+20.31%

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