| Income Statement Evolution | |
|
|
| Annual Income Statement Data |
|
|
Actuals in M CNY |
Estimates in M CNY |
|
Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Sales | 76 418 | 117 641 | 158 556 | 164 518 | 179 490 | 204 452 | | Operating income (EBITDA) | 7 295 | 8 896 | 7 466 | 8 296 | 7 962 | 8 371 | | Operating profit (EBIT) | 5 908 | 7 707 | 6 185 | 6 504 | 6 661 | 7 231 | | Pre-Tax Profit (EBT) | 5 980 | 7 671 | 6 275 | 6 465 | 6 947 | 7 715 | | Net income | 4 907 | 6 549 | 5 216 | 5 299 | 5 707 | 6 360 | | EPS ( CNY) | 1,48 | 1,89 | 1,51 | 1,52 | 1,64 | 1,83 | | Dividend per Share ( CNY) | 0,20 | 0,70 | 0,50 | 0,50 | 0,54 | 0,63 | | Yield | 0,94% | 3,29% | 2,35% | 2,35% | 2,54% | 2,93% | | Announcement Date | 03/31/2011 07:51am | 03/27/2012 10:30pm | 03/27/2013 09:02am | - | - | - |
|
|
|
|
Actuals in M CNY |
Estimates in M CNY |
|
Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 5 433 | 2 861 | - | 936 | - | - | | Finance | - | - | 1 306 | - | 1 465 | 2 596 | | Operating income (EBITDA) | 7 295 | 8 896 | 7 466 | 8 296 | 7 962 | 8 371 | Leverage (Debt/EBITDA) | 0,74x | 0,32x | - | 0,11x | - | - | | Capital Expenditure | 2 568 | 2 612 | 2 692 | 3 234 | 3 256 | 3 388 | | Book Value Per Share (BVPS) | 9,85 CNY | 11,4 CNY | 12,4 CNY | 13,8 CNY | 15,1 CNY | 16,6 CNY | | Cash Flow per Share | -0,60 CNY | 1,92 CNY | 1,83 CNY | 0,84 CNY | 1,00 CNY | 1,67 CNY | | Announcement Date | 03/31/2011 07:51am | 03/27/2012 10:30pm | 03/27/2013 09:02am | - | - | - |
|
Assessed data source : © 2013 Thomson Reuters |
|
|
|
|
|
|
Valuation |
2013e |
2014e |
|
PER (Price / EPS)
|
14,0x |
13,0x |
|
Capitalization / Revenue
|
0,37x |
0,34x |
|
EV / Revenue
|
0,38x |
0,33x |
|
EV / EBITDA
|
7,48x |
7,50x |
|
Yield (DPS / Price)
|
2,35% |
2,54% |
| Profitability |
2013e |
2014e |
|
Operating Margin (EBIT / Sales)
|
3,95% |
3,71% |
|
operating laverage (Delta EBIT / Delta Sales)
|
1,37x |
0,26x |
|
Net Margin (Net Profit / Revenue)
|
3,22% |
3,18% |
|
ROA (Net Profit / Asset)
|
6,44% |
6,67% |
|
ROE (Net Profit / Equities)
|
11,1% |
10,8% |
|
Rate of Dividend
|
32,8% |
32,9% |
|
|
|