| Income Statement Evolution | |
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| Annual Income Statement Data |
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Actuals in M CNY |
Estimates in M CNY |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Sales | 34 503 | 48 654 | 45 766 | 54 461 | 62 934 | 72 429 | | Operating income (EBITDA) | 10 567 | 18 870 | 10 292 | 14 824 | 17 437 | 20 173 | | Operating profit (EBIT) | 7 616 | 16 299 | 7 016 | 11 150 | 13 071 | 15 464 | | Pre-Tax Profit (EBT) | 8 078 | 15 652 | 8 088 | 10 936 | 12 816 | 15 341 | | Net income | 6 171 | 11 590 | 6 308 | 8 345 | 9 811 | 11 766 | | EPS ( CNY) | 1,17 | 2,19 | 1,19 | 1,57 | 1,85 | 2,22 | | Dividend per Share ( CNY) | 0,20 | 0,35 | 0,25 | 0,38 | 0,40 | 0,54 | | Yield | 1,13% | 1,99% | 1,42% | 2,17% | 2,27% | 3,07% | | Announcement Date | 04/04/2011 04:31am | 03/26/2012 10:30pm | 03/24/2013 03:16am | - | - | - |
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Actuals in M CNY |
Estimates in M CNY |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 11 486 | 14 563 | 15 631 | 14 828 | 10 489 | 4 825 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 10 567 | 18 870 | 10 292 | 14 824 | 17 437 | 20 173 | Leverage (Debt/EBITDA) | 1,09x | 0,77x | 1,52x | 1,00x | 0,60x | 0,24x | | Capital Expenditure | 9,27 | 8 250 | 6 815 | 6 962 | 5 667 | 6 022 | | Book Value Per Share (BVPS) | 6,61 CNY | 8,84 CNY | 9,23 CNY | 10,5 CNY | 12,2 CNY | 13,9 CNY | | Cash Flow per Share | 1,13 CNY | 1,98 CNY | 2,17 CNY | 2,50 CNY | 2,80 CNY | 3,37 CNY | | Announcement Date | 04/04/2011 04:31am | 03/26/2012 10:30pm | 03/24/2013 03:16am | - | - | - |
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Assessed data source : © 2013 Thomson Reuters |
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Valuation |
2013e |
2014e |
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PER (Price / EPS)
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11,2x |
9,52x |
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Capitalization / Revenue
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1,81x |
1,56x |
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EV / Revenue
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2,08x |
1,73x |
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EV / EBITDA
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7,63x |
6,24x |
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Yield (DPS / Price)
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2,17% |
2,27% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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20,5% |
20,8% |
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operating laverage (Delta EBIT / Delta Sales)
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3,10x |
1,11x |
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Net Margin (Net Profit / Revenue)
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15,3% |
15,6% |
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ROA (Net Profit / Asset)
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9,34% |
9,54% |
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ROE (Net Profit / Equities)
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16,0% |
16,1% |
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Rate of Dividend
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24,2% |
21,6% |
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