Financials Shanghai Fudan Microelectronics Group Company Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:11 2024-05-08 am EDT			5-day change	1st Jan Change
11.12 ^HKD	-1.24%		+2.39%	-21.13%

Apr. 29	Shanghai Fudan Microelectronics Group Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 18	Shanghai Fudan Microelectronics Group Company Limited Announces Resignation of Wu Ping as Non-Executive Director	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,723	39,982	50,399	26,766	21,921	-	-
Enterprise Value (EV) ¹	9,723	38,677	49,140	27,323	20,350	19,325	20,720
P/E ratio	61.8 x	-	19.7 x	14.6 x	7.31 x	5.86 x	-
Yield	-	0.32%	0.52%	0.77%	0.88%	0.88%	0.97%
Capitalization / Revenue	-	12.6 x	12.5 x	6.96 x	4.97 x	3.92 x	3.49 x
EV / Revenue	-	12.2 x	12.2 x	7.11 x	4.61 x	3.46 x	3.29 x
EV / EBITDA	-	47.1 x	32.9 x	25 x	16.9 x	11.2 x	14.3 x
EV / FCF	-	-	-93.9 x	-	127 x	19.4 x	-
FCF Yield	-	-	-1.06%	-	0.79%	5.14%	-
Price to Book	-	5.45 x	4.66 x	2 x	1.45 x	1.29 x	1.16 x
Nbr of stocks (in thousands)	694,502	814,502	816,657	819,060	819,060	-	-
Reference price ²	14.00	25.40	29.50	14.10	11.12	11.12	11.12
Announcement Date	3/14/21	2/25/22	2/27/23	2/23/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	3,169	4,037	3,845	4,412	5,589	6,289
EBITDA ¹	-	820.5	1,491	1,094	1,206	1,730	1,447
EBIT ¹	-	705.1	1,279	809.7	1,169	1,534	1,367
Operating Margin	-	22.25%	31.69%	21.06%	26.51%	27.45%	21.73%
Earnings before Tax (EBT) ¹	-	705.2	1,279	810.2	903.5	1,535	1,367
Net income ¹	158.7	632.7	1,228	788	864.6	1,428	1,307
Net margin	-	19.96%	30.43%	20.5%	19.6%	25.56%	20.79%
EPS ²	0.2267	-	1.501	0.9678	1.522	1.897	-
Free Cash Flow ¹	-	-	-523.3	-	160.8	993.6	-
FCF margin	-	-	-12.96%	-	3.64%	17.78%	-
FCF Conversion (EBITDA)	-	-	-	-	13.33%	57.43%	-
FCF Conversion (Net income)	-	-	-	-	18.6%	69.56%	-
Dividend per Share ²	-	0.0804	0.1540	0.1082	0.0980	0.0980	0.1080
Announcement Date	3/14/21	2/25/22	2/27/23	2/23/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	557	-	-	-
Net Cash position ¹	-	1,305	1,259	-	1,571	2,596	1,201
Leverage (Debt/EBITDA)	-	-	-	0.5089 x	-	-	-
Free Cash Flow ¹	-	-	-523	-	161	994	-
ROE (net income / shareholders' equity)	-	20.3%	28.5%	14.8%	11.8%	17.7%	13.4%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	-	4.660	6.330	7.030	7.660	8.630	9.620
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	-	693	890	921	136	202	165
Capex / Sales	-	21.88%	22.04%	23.95%	3.08%	3.61%	2.63%
Announcement Date	3/14/21	2/25/22	2/27/23	2/23/24	-	-	-

¹HKD in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

11.12 HKD

Average target price

13.7 HKD

Spread / Average Target

+23.20%

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