Financials Luenmei Quantum Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
5.89 ^CNY	-0.84%		-1.01%	+3.88%

Apr. 29	Luenmei Quantum Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Apr. 02	Tranche Update on Luenmei Quantum Co.,Ltd's Equity Buyback Plan announced on November 16, 2023.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	30,112	25,970	20,431	14,301	12,830	13,328	-	-
Enterprise Value (EV) ¹	30,112	25,970	20,431	14,301	12,830	13,328	13,328	13,328
P/E ratio	18.9 x	15.4 x	19.5 x	15.1 x	14.9 x	14 x	11.1 x	11.9 x
Yield	-	-	-	-	3.53%	3.74%	4.07%	4.24%
Capitalization / Revenue	8.87 x	7.22 x	5.89 x	4.14 x	3.76 x	3.7 x	3.31 x	3.36 x
EV / Revenue	8.87 x	7.22 x	5.89 x	4.14 x	3.76 x	3.7 x	3.31 x	3.36 x
EV / EBITDA	12.5 x	10.8 x	-	9.29 x	8.91 x	8.14 x	6.13 x	6.15 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.98 x	2.96 x	2.36 x	1.37 x	1.18 x	1.17 x	1.13 x	1.06 x
Nbr of stocks (in thousands)	2,288,119	2,288,119	2,267,579	2,262,840	2,262,840	2,262,840	-	-
Reference price ²	13.16	11.35	9.010	6.320	5.670	5.890	5.890	5.890
Announcement Date	4/30/20	4/29/21	4/28/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,396	3,598	3,468	3,450	3,412	3,606	4,032	3,968
EBITDA ¹	2,404	2,414	-	1,540	1,439	1,638	2,173	2,166
EBIT ¹	2,078	2,117	1,296	1,195	1,065	1,205	1,540	1,432
Operating Margin	61.18%	58.84%	37.36%	34.65%	31.21%	33.42%	38.2%	36.07%
Earnings before Tax (EBT) ¹	2,095	2,125	1,303	1,208	1,088	1,216	1,552	1,443
Net income ¹	1,592	1,685	1,046	944	859	962	1,218	1,140
Net margin	46.86%	46.84%	30.17%	27.36%	25.18%	26.68%	30.21%	28.71%
EPS ²	0.6956	0.7366	0.4613	0.4172	0.3796	0.4200	0.5300	0.4950
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	0.2000	0.2200	0.2400	0.2500
Announcement Date	4/30/20	4/29/21	4/28/22	4/28/23	4/29/24	-	-	-

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)	23.7%	20.6%	12.1%	9.51%	7.97%	8.46%	10.2%	9.1%
ROA (Net income/ Total Assets)	13.8%	-	-	-	-	5.8%	6.2%	6.3%
Assets ¹	11,552	-	-	-	-	16,586	19,647	18,087
Book Value Per Share ²	3.310	3.840	3.810	4.620	4.820	5.040	5.240	5.540
Cash Flow per Share ²	0.6300	0.4100	0.7400	0.6300	0.6600	0.6700	0.8300	0.8800
Capex ¹	344	356	-	310	256	747	778	580
Capex / Sales	10.13%	9.89%	-	9%	7.49%	20.72%	19.3%	14.61%
Announcement Date	4/30/20	4/29/21	4/28/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5.89 CNY

Average target price

6.88 CNY

Spread / Average Target

+16.81%

	1st Jan change	Capi.
LUENMEI QUANTUM CO.,LTD	+3.88%	1.84B
EMIRATES CENTRAL COOLING SYSTEMS CORPORATION	-3.01%	4.33B
NATIONAL CENTRAL COOLING COMPANY	-13.41%	2.35B
JIANGXI BESTOO ENERGY CO.,LTD.	-14.42%	1.21B
NINGBO ENERGY GROUP CO.,LTD.	-2.20%	618M
ZHEJIANG XINZHONGGANG THERMAL POWER CO., LTD.	-19.37%	410M
DALIAN THERMAL POWER CO.,LTD.	-9.99%	408M
HENGSHENG ENERGY CO., LTD	-13.17%	390M
BEIJING JINGNENG THERMAL CO., LTD.	-2.76%	385M
QUADRA - POWER GENERATION	-0.16%	258M