Financials Jiangsu ToLand Alloy 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
24.43 ^CNY	-3.21%		+0.99%	-19.11%

Apr. 18	Jiangsu ToLand Alloy Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Jan. 29	Jiangsu Toland Alloy Co.,Ltd Announces Executive Changes	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,578	14,098	14,131	11,938	9,657	-	-
Enterprise Value (EV) ¹	9,578	14,098	14,131	11,938	9,657	9,657	9,657
P/E ratio	74.8 x	78.3 x	55.7 x	36 x	23.5 x	16.4 x	14.8 x
Yield	-	0.28%	0.21%	0.99%	1.23%	1.7%	1.23%
Capitalization / Revenue	17.5 x	20.2 x	13.7 x	8.62 x	5.75 x	4.3 x	3.91 x
EV / Revenue	17.5 x	20.2 x	13.7 x	8.62 x	5.75 x	4.3 x	3.91 x
EV / EBITDA	-	-	45.3 x	28.1 x	17.2 x	13.5 x	11 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	9.03 x	11.5 x	9.5 x	6.53 x	4.39 x	3.54 x	3.04 x
Nbr of stocks (in thousands)	390,000	390,000	392,613	395,307	395,307	-	-
Reference price ²	24.56	36.15	35.99	30.20	24.43	24.43	24.43
Announcement Date	4/18/21	4/18/22	4/18/23	4/18/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	546.3	697.9	1,032	1,385	1,681	2,248	2,468
EBITDA ¹	-	-	311.6	425.6	561.2	713.5	878.5
EBIT ¹	124.4	207.9	281.5	374.8	465.5	658.5	745
Operating Margin	22.77%	29.79%	27.26%	27.07%	27.69%	29.29%	30.19%
Earnings before Tax (EBT) ¹	124.3	207.3	282	375.1	465.5	658.7	744.5
Net income ¹	109.1	181.3	254.8	330.3	412.3	589.7	653.3
Net margin	19.97%	25.98%	24.68%	23.86%	24.53%	26.24%	26.47%
EPS ²	0.3282	0.4615	0.6462	0.8400	1.040	1.490	1.650
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	0.1026	0.0769	0.3000	0.3000	0.4150	0.3000
Announcement Date	4/18/21	4/18/22	4/18/23	4/18/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	14.9%	16%	18.8%	19.9%	18.7%	22.2%	20.6%
ROA (Net income/ Total Assets)	12.6%	14.6%	15.7%	-	16%	16.5%	17.8%
Assets ¹	866.2	1,238	1,627	-	2,585	3,570	3,672
Book Value Per Share ²	2.720	3.140	3.790	4.630	5.570	6.910	8.040
Cash Flow per Share ²	0.2300	0.4600	0.6200	0.2500	1.110	1.240	1.610
Capex ¹	30.6	183	251	346	235	254	255
Capex / Sales	5.6%	26.17%	24.27%	24.99%	13.97%	11.3%	10.33%
Announcement Date	4/18/21	4/18/22	4/18/23	4/18/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

24.43 CNY

Average target price

40.44 CNY

Spread / Average Target

+65.51%

	1st Jan change	Capi.
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