| 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 | 23 706 | 28 945 | 32 860 | 37 984 | 43 453 | 48 811 | | Operating income (EBITDA) | 4 687 | 6 028 | 6 309 | 6 990 | 8 076 | 8 914 | | Operating profit (EBIT) | 3 994 | 5 265 | 5 403 | 6 062 | 7 038 | 7 850 | | Pre-Tax Profit (EBT) | 4 125 | 5 471 | 5 677 | 6 435 | 7 498 | 8 506 | | Net income | 3 425 | 4 255 | 4 352 | 4 892 | 5 688 | 6 372 | | EPS ( CNY) | 0,41 | 0,50 | 0,52 | 0,58 | 0,67 | 0,75 | | Dividend per Share ( CNY) | 0,31 | 0,15 | 0,16 | 0,18 | 0,21 | 0,23 | | Yield | 3,28% | 1,59% | 1,69% | 1,91% | 2,18% | 2,40% | | Announcement Date | 03/23/2011 07:22am | 03/20/2012 11:57am | 03/25/2013 09:49am | - | - | - |
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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 | - | - | - | - | - | - | | Finance | 5 110 | 991 | 111 | 5 943 | 7 861 | 9 715 | | Operating income (EBITDA) | 4 687 | 6 028 | 6 309 | 6 990 | 8 076 | 8 914 | Leverage (Debt/EBITDA) | - | - | - | - | - | - | | Capital Expenditure | 1 198 | 1 664 | 1 520 | 1 428 | 1 357 | 1 328 | | Book Value Per Share (BVPS) | 2,03 CNY | 2,30 CNY | 2,66 CNY | 3,05 CNY | 3,51 CNY | 3,95 CNY | | Cash Flow per Share | 0,31 CNY | 0,36 CNY | 0,52 CNY | 0,57 CNY | 0,67 CNY | 0,76 CNY | | Announcement Date | 03/23/2011 07:22am | 03/20/2012 11:57am | 03/25/2013 09:49am | - | - | - |
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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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16,3x |
14,2x |
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Capitalization / Revenue
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2,10x |
1,83x |
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EV / Revenue
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1,94x |
1,65x |
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EV / EBITDA
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10,6x |
8,90x |
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Yield (DPS / Price)
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1,91% |
2,18% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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16,0% |
16,2% |
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operating laverage (Delta EBIT / Delta Sales)
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0,78x |
1,12x |
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Net Margin (Net Profit / Revenue)
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12,9% |
13,1% |
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ROA (Net Profit / Asset)
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16,3% |
16,8% |
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ROE (Net Profit / Equities)
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20,2% |
20,3% |
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Rate of Dividend
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31,1% |
30,9% |
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