Stock 601615 MING YANG SMART ENERGY GROUP LIMITED
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Financials Ming Yang Smart Energy Group Limited

Equities

601615

CNE100003HQ0

Renewable Energy Equipment & Services

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-05-09 pm EDT 		5-day change 1st Jan Change
10.65 CNY +1.43% Intraday chart for Ming Yang Smart Energy Group Limited +8.56% -15.07%
Apr. 29 Tranche Update on Ming Yang Smart Energy Group Limited's Equity Buyback Plan announced on February 20, 2024. CI
Apr. 29 Ming Yang Smart Energy Group Limited acquired Guangdong Mingyang Longyuan Power Electronics Co., Ltd. from Chongqing Qijiang Zhongshan Electric Appliance Co., Ltd. CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 16,971 35,588 50,451 56,803 27,973 23,016 - -
Enterprise Value (EV) 1 16,971 35,588 42,297 53,214 29,947 23,734 24,435 23,016
P/E ratio 23.2 x 21.1 x 16.3 x 16 x 78.4 x 8.78 x 6.26 x 6.33 x
Yield 0.63% 0.58% 0.85% 1.2% 2.43% 2.6% 3.6% 3.79%
Capitalization / Revenue 1.62 x 1.58 x 1.86 x 1.85 x 1 x 0.52 x 0.44 x 0.44 x
EV / Revenue 1.62 x 1.58 x 1.56 x 1.73 x 1.08 x 0.54 x 0.47 x 0.44 x
EV / EBITDA 14.4 x 16.6 x 9.49 x 11 x 20.6 x 4.43 x 3.52 x 2.89 x
EV / FCF - - -21.3 x -6.05 x -2.94 x -24.4 x -24.5 x -
FCF Yield - - -4.69% -16.5% -34.1% -4.1% -4.08% -
Price to Book 2.53 x 2.45 x 2.78 x 2.04 x 1.04 x 0.75 x 0.68 x 0.67 x
Nbr of stocks (in thousands) 1,379,722 1,875,015 1,932,986 2,248,745 2,230,724 2,161,149 - -
Reference price 2 12.30 18.98 26.10 25.26 12.54 10.65 10.65 10.65
Announcement Date 4/21/20 4/7/21 3/1/22 4/28/23 4/11/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 10,493 22,457 27,158 30,748 27,850 44,284 52,154 52,317
EBITDA 1 1,178 2,142 4,455 4,848 1,454 5,361 6,938 7,953
EBIT 1 738.8 1,579 3,623 3,865 379 3,998 5,010 5,800
Operating Margin 7.04% 7.03% 13.34% 12.57% 1.36% 9.03% 9.61% 11.09%
Earnings before Tax (EBT) 1 747.5 1,477 3,589 3,858 358 3,454 4,319 4,162
Net income 1 712.6 1,374 3,101 3,455 375 3,065 3,826 3,819
Net margin 6.79% 6.12% 11.42% 11.24% 1.35% 6.92% 7.34% 7.3%
EPS 2 0.5300 0.9000 1.600 1.580 0.1600 1.213 1.702 1.682
Free Cash Flow 1 - - -1,982 -8,800 -10,201 -974 -997 -
FCF margin - - -7.3% -28.62% -36.63% -2.2% -1.91% -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.0780 0.1100 0.2211 0.3041 0.3041 0.2774 0.3837 0.4034
Announcement Date 4/21/20 4/7/21 3/1/22 4/28/23 4/11/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 7,426 9,084 2,720 7,840 10,399 6,892 - - - -
EBITDA - - - - - - - - - -
EBIT 443.1 -83.86 -282.1 979.5 664.9 -986.3 - - - -
Operating Margin 5.97% -0.92% -10.37% 12.49% 6.39% -14.31% - - - -
Earnings before Tax (EBT) - - - - - - - - - -
Net income - - - - - - - - - -
Net margin - - - - - - - - - -
EPS 1 0.4300 - -0.1000 0.3900 0.2600 -0.3900 0.1300 0.5400 0.7800 0.6900
Dividend per Share 1 - 0.3041 - - - - - - - 0.4121
Announcement Date 10/27/22 4/28/23 4/28/23 8/30/23 10/27/23 4/11/24 4/28/24 - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - 1,974 717 1,419 -
Net Cash position 1 - - 8,154 3,589 - - - -
Leverage (Debt/EBITDA) - - - - 1.357 x 0.1361 x 0.2058 x -
Free Cash Flow 1 - - -1,982 -8,800 -10,201 -974 -997 -
ROE (net income / shareholders' equity) 12.1% 15.7% 18.4% 14.6% 1.34% 10.5% 11.9% 10.8%
ROA (Net income/ Total Assets) 2.5% 3.18% 5.8% 5.29% - 3.1% 3.25% 3.2%
Assets 1 28,514 43,156 53,446 65,245 - 102,428 123,330 119,346
Book Value Per Share 2 4.870 7.750 9.400 12.40 12.10 14.00 15.40 15.20
Cash Flow per Share 2 4.170 1.940 2.760 -0.3500 -1.140 0.8000 4.910 3.530
Capex 1 2,320 3,306 7,380 8,004 7,610 7,577 7,720 10,800
Capex / Sales 22.11% 14.72% 27.17% 26.03% 27.32% 17.52% 15.08% 20.47%
Announcement Date 4/21/20 4/7/21 3/1/22 4/28/23 4/11/24 - - -
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 Ming Yang Smart Energy Group Limited

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
10.65 CNY
Average target price
16.36 CNY
Spread / Average Target
+53.64%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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