Financials Shenzhen Megmeet Electrical Co., LTD

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-20 pm EDT			5-day change	1st Jan Change
26.6 ^CNY	+1.76%		+3.26%	+8.13%

Apr. 30	Shenzhen Megmeet Electrical Co., Ltd Proposes the Profit Distribution for 2023	CI
Apr. 29	Shenzhen Megmeet Electrical Co., LTD Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,727	17,095	15,932	12,837	12,247	13,251	-	-
Enterprise Value (EV) ¹	9,727	17,095	15,641	13,771	13,296	14,619	14,285	13,818
P/E ratio	26.7 x	40.4 x	41.2 x	27.6 x	20.6 x	18 x	14.1 x	11 x
Yield	0.77%	0.5%	0.5%	0.19%	0.89%	0.88%	1.15%	1.54%
Capitalization / Revenue	2.73 x	5.06 x	3.83 x	2.34 x	1.81 x	1.58 x	1.27 x	1.05 x
EV / Revenue	2.73 x	5.06 x	3.76 x	2.51 x	1.97 x	1.74 x	1.37 x	1.1 x
EV / EBITDA	22 x	34.2 x	29.8 x	22 x	16.8 x	15.5 x	12.1 x	9.19 x
EV / FCF	-	-	-44 x	-35.1 x	-160 x	-69.6 x	31.9 x	22.3 x
FCF Yield	-	-	-2.27%	-2.85%	-0.63%	-1.44%	3.14%	4.49%
Price to Book	5.05 x	5.57 x	5.05 x	3.69 x	2.92 x	2.63 x	2.26 x	1.86 x
Nbr of stocks (in thousands)	469,458	501,908	497,569	494,480	497,840	498,161	-	-
Reference price ²	20.72	34.06	32.02	25.96	24.60	26.60	26.60	26.60
Announcement Date	2/28/20	2/26/21	4/21/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,560	3,376	4,156	5,478	6,754	8,393	10,395	12,618
EBITDA ¹	442.9	499.4	524.8	627.1	792.4	940.6	1,183	1,503
EBIT ¹	386.5	432.1	438.8	506.1	632.7	768.7	970.8	1,246
Operating Margin	10.86%	12.8%	10.56%	9.24%	9.37%	9.16%	9.34%	9.88%
Earnings before Tax (EBT) ¹	386.5	431.2	437.3	505.3	636.9	760.9	963.5	1,239
Net income ¹	361.1	403	388.8	472.7	629.3	740.4	942.2	1,212
Net margin	10.14%	11.93%	9.36%	8.63%	9.32%	8.82%	9.06%	9.61%
EPS ²	0.7747	0.8438	0.7775	0.9397	1.192	1.478	1.880	2.423
Free Cash Flow ¹	-	-	-355.1	-392.3	-83.35	-210	448	620
FCF margin	-	-	-8.54%	-7.16%	-1.23%	-2.5%	4.31%	4.91%
FCF Conversion (EBITDA)	-	-	-	-	-	-	37.87%	41.24%
FCF Conversion (Net income)	-	-	-	-	-	-	47.55%	51.14%
Dividend per Share ²	0.1600	0.1700	0.1600	0.0500	0.2180	0.2350	0.3050	0.4100
Announcement Date	2/28/20	2/26/21	4/21/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	934	1,049	1,368	1,034	567
Net Cash position ¹	-	-	292	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	1.49 x	1.324 x	1.454 x	0.874 x	0.3772 x
Free Cash Flow ¹	-	-	-355	-392	-83.4	-210	448	620
ROE (net income / shareholders' equity)	20%	17.9%	12.4%	14.1%	15.5%	15%	16.3%	17.6%
ROA (Net income/ Total Assets)	10.1%	8.81%	3.42%	6.45%	-	6.37%	7.03%	7.75%
Assets ¹	3,564	4,577	11,370	7,333	-	11,630	13,397	15,643
Book Value Per Share ²	4.100	6.120	6.340	7.040	8.420	10.10	11.80	14.30
Cash Flow per Share ²	1.310	0.9200	-0.2300	-0.0400	0.6200	1.450	1.970	0.7500
Capex ¹	218	213	242	372	393	669	598	587
Capex / Sales	6.14%	6.31%	5.81%	6.78%	5.82%	7.98%	5.75%	4.65%
Announcement Date	2/28/20	2/26/21	4/21/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

26.6 CNY

Average target price

29.65 CNY

Spread / Average Target

+11.48%

	1st Jan change	Capi.
SHENZHEN MEGMEET ELECTRICAL CO., LTD	+8.13%	1.83B
AMPHENOL CORPORATION	+36.59%	81.32B
HON HAI PRECISION INDUSTRY CO., LTD.	+58.85%	71.2B
MURATA MANUFACTURING CO., LTD	-1.25%	35.48B
LUXSHARE PRECISION INDUSTRY CO., LTD.	-7.49%	31.62B
JABIL INC.	-7.54%	14.21B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-7.13%	10.61B
LENS TECHNOLOGY CO., LTD.	+12.88%	10.18B
BYD ELECTRONIC (INTERNATIONAL) COMPANY LIMITED	-7.10%	9.66B
COHERENT CORP.	+32.83%	8.82B