Financials Guangzhou Shiyuan Electronic Technology Company Limited

Equities

002841

CNE100002K47

Electronic Equipment & Parts

End-of-day quote Shenzhen S.E. 06:00:00 2024-05-30 pm EDT 5-day change 1st Jan Change
32.82 CNY +1.23% Intraday chart for Guangzhou Shiyuan Electronic Technology Company Limited -0.36% -28.28%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 56,190 76,864 54,257 41,401 32,089 23,015 - -
Enterprise Value (EV) 1 53,103 73,832 50,550 38,853 30,247 19,549 17,870 19,549
P/E ratio 34.4 x 39.5 x 31.2 x 19.4 x 23.2 x 13.7 x 11.5 x 12.4 x
Yield 0.88% 0.87% 1.11% 1.78% 1.86% 2.42% 2.68% 3.03%
Capitalization / Revenue 3.3 x 4.49 x 2.56 x 1.97 x 1.59 x 1.03 x 0.92 x 0.88 x
EV / Revenue 3.11 x 4.31 x 2.38 x 1.85 x 1.5 x 0.88 x 0.71 x 0.75 x
EV / EBITDA 28.1 x 33.6 x 25.1 x 15.5 x 17.3 x 11.1 x 8.23 x 8.25 x
EV / FCF - - 24.8 x 27.4 x -49.4 x 15.3 x 13.2 x -
FCF Yield - - 4.04% 3.65% -2.02% 6.52% 7.55% -
Price to Book 11.4 x 10.7 x 6.49 x 3.47 x 2.57 x 1.71 x 1.55 x 1.45 x
Nbr of stocks (in thousands) 655,660 668,208 666,550 701,239 701,239 701,239 - -
Reference price 2 85.70 115.0 81.40 59.04 45.76 32.82 32.82 32.82
Announcement Date 1/17/20 1/25/21 1/26/22 1/17/23 1/30/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 17,053 17,129 21,226 20,990 20,173 22,339 25,067 26,032
EBITDA 1 1,887 2,199 2,012 2,514 1,753 1,762 2,170 2,370
EBIT 1 1,760 2,052 1,831 2,326 1,521 1,650 2,062 2,294
Operating Margin 10.32% 11.98% 8.63% 11.08% 7.54% 7.38% 8.23% 8.81%
Earnings before Tax (EBT) 1 1,786 2,073 1,858 2,326 1,489 1,622 2,116 2,270
Net income 1 1,611 1,902 1,699 2,072 1,370 1,680 1,994 1,862
Net margin 9.45% 11.1% 8% 9.87% 6.79% 7.52% 7.95% 7.15%
EPS 2 2.490 2.910 2.610 3.050 1.970 2.398 2.844 2.657
Free Cash Flow 1 - - 2,041 1,420 -612 1,275 1,349 -
FCF margin - - 9.62% 6.76% -3.03% 5.71% 5.38% -
FCF Conversion (EBITDA) - - 101.45% 56.48% - 72.36% 62.15% -
FCF Conversion (Net income) - - 120.13% 68.51% - 75.87% 67.65% -
Dividend per Share 2 0.7500 1.000 0.9000 1.050 0.8500 0.7934 0.8791 0.9950
Announcement Date 1/17/20 1/25/21 1/26/22 1/17/23 1/30/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q2 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 4,793 - - 12,010 - - - - - - - - - -
EBITDA - - - - - - - - - - - - - -
EBIT - - - 1,617 - - - - - - - - - -
Operating Margin - - - 13.47% - - - - - - - - - -
Earnings before Tax (EBT) - - - 1,609 - - - - - - - - - -
Net income 368.7 - - 1,396 - - - - - - - - - -
Net margin 7.69% - - 11.62% - - - - - - - - - -
EPS 1 0.5500 1.320 0.6900 2.040 0.4100 0.4500 0.6600 0.4500 0.2600 0.3500 0.6600 0.4800 0.3100 0.3800
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 8/24/22 10/26/22 1/17/23 1/17/23 4/25/23 8/24/23 10/23/23 1/30/24 4/24/24 - - - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 3,087 3,032 3,707 2,548 1,842 3,466 5,145 3,466
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - 2,041 1,420 -612 1,275 1,349 -
ROE (net income / shareholders' equity) 38.4% 31.9% 21.8% 20.9% 11.2% 12% 12.9% 11.8%
ROA (Net income/ Total Assets) 19% 16.9% 12% 12.6% 6.51% 6.56% 7.19% 8.33%
Assets 1 8,486 11,267 14,149 16,401 21,057 25,604 27,746 22,350
Book Value Per Share 2 7.520 10.80 12.50 17.00 17.80 19.20 21.20 22.70
Cash Flow per Share 2 3.620 2.970 4.050 3.370 1.590 1.990 2.810 3.770
Capex 1 468 438 661 946 1,728 1,043 578 464
Capex / Sales 2.74% 2.56% 3.11% 4.51% 8.57% 4.67% 2.3% 1.78%
Announcement Date 1/17/20 1/25/21 1/26/22 1/17/23 1/30/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
32.82 CNY
Average target price
47.22 CNY
Spread / Average Target
+43.88%
Consensus
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