Financials Zhang Xiaoquan Inc.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-13 pm EDT			5-day change	1st Jan Change
13.58 ^CNY	+0.37%		-7.56%	-5.83%

Apr. 28	Zhang Xiaoquan Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 19	Tranche Update on Zhang Xiaoquan Inc.'s Equity Buyback Plan announced on January 29, 2024.	CI

Fiscal Period: December	2021	2022	2023	2024	2025
Capitalization ¹	3,547	2,374	2,118	2,118	-
Enterprise Value (EV) ¹	3,547	2,374	2,250	2,118	2,118
P/E ratio	37.3 x	56.4 x	90.1 x	32.3 x	67.9 x
Yield	2.2%	1.64%	1.04%	2.87%	-
Capitalization / Revenue	4.67 x	2.87 x	2.77 x	2.36 x	2.12 x
EV / Revenue	4.67 x	2.87 x	2.77 x	2.36 x	2.12 x
EV / EBITDA	28.4 x	24.8 x	31.5 x	22.1 x	31.6 x
EV / FCF	-	-	-	-	-
FCF Yield	-	-	-	-	-
Price to Book	4.91 x	3.46 x	3.35 x	3.13 x	3.11 x
Nbr of stocks (in thousands)	156,000	156,000	156,000	156,000	-
Reference price ²	22.74	15.22	13.58	13.58	13.58
Announcement Date	3/14/22	4/17/23	4/28/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net sales ¹	-	760	826.6	811.5	899	1,000
EBITDA ¹	-	125	95.66	71.49	96	67
EBIT ¹	-	97.92	58.02	37.03	92	43
Operating Margin	-	12.88%	7.02%	4.56%	10.23%	4.3%
Earnings before Tax (EBT) ¹	-	98.53	59.27	38.94	92	45
Net income ¹	77.22	78.73	41.49	25.12	65	31
Net margin	-	10.36%	5.02%	3.1%	7.23%	3.1%
EPS ²	0.6600	0.6100	0.2700	0.1600	0.4200	0.2000
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	0.5000	0.2500	0.1500	0.3900	-
Announcement Date	8/15/21	3/14/22	4/17/23	4/28/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	14.4%	6%	3.72%	4.1%	4.5%
ROA (Net income/ Total Assets)	-	9%	4.14%	3.9%	2.6%	2.8%
Assets ¹	-	875.2	1,002	1,038	2,500	1,107
Book Value Per Share ²	-	4.630	4.400	4.310	4.340	4.370
Cash Flow per Share ²	-	0.7800	0.7200	0.6700	0.7800	-
Capex ¹	-	134	41.6	14.9	95	13
Capex / Sales	-	17.64%	5.03%	1.84%	10.57%	1.3%
Announcement Date	8/15/21	3/14/22	4/17/23	4/28/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.58 CNY

Average target price

16.6 CNY

Spread / Average Target

+22.24%

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