BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED Financials Brilliance China Automotive Holdings Limited
Equities
1114
BMG1368B1028
Auto & Truck Manufacturers
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6.4 HKD | +5.79% |
|
-10.36% | +47.13% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 25,828 | 36,431 | 29,979 | 30,504 | 19,472 | 29,890 | 29,890 | - |
| Enterprise Value (EV) 1 | 27,625 | 34,135 | 30,658 | 32,020 | -8,634 | -9,974 | 5,324 | 8,365 |
| P/E ratio | 4.44 x | 5.39 x | 2,677 x | 2.55 x | 2.72 x | 2.58 x | 4.1 x | 4.46 x |
| Yield | 1.84% | 10.8% | 1.59% | - | - | 24.1% | 39.8% | 23.7% |
| Capitalization / Revenue | 5.9 x | 9.43 x | 9.6 x | 14.2 x | 17.2 x | 17.8 x | 25.8 x | 25.8 x |
| EV / Revenue | 6.31 x | 8.84 x | 9.82 x | 14.9 x | -7.64 x | -8.89 x | 4.6 x | 7.21 x |
| EV / EBITDA | -46.9 x | -37.2 x | -17 x | -12.6 x | 855 x | 154 x | 426 x | 4,449,303 x |
| EV / FCF | -8.39 x | -22.4 x | -10.9 x | 23.1 x | -6.84 x | -0.35 x | 28.8 x | -28.7 x |
| FCF Yield | -11.9% | -4.46% | -9.19% | 4.33% | -14.6% | -282% | 3.48% | -3.48% |
| Price to Book | 0.83 x | 1.07 x | 0.9 x | 0.72 x | 0.38 x | 0.39 x | 0.64 x | 0.63 x |
| Nbr of stocks (in thousands) | 5,045,269 | 5,045,269 | 5,045,269 | 5,045,269 | 5,045,269 | 5,045,269 | 5,045,269 | - |
| Reference price 2 | 5.119 | 7.221 | 5.942 | 6.046 | 3.860 | 5.924 | 5.924 | 5.924 |
| Announcement Date | 3/26/19 | 3/27/20 | 7/29/22 | 8/26/22 | 3/29/23 | 3/28/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,377 | 3,862 | 3,123 | 2,142 | 1,131 | 1,121 | 1,157 | 1,159 |
| EBITDA 1 | -588.4 | -918.3 | -1,803 | -2,536 | -10.1 | -64.61 | 12.49 | 0.00188 |
| EBIT 1 | -865.9 | -1,323 | -2,246 | -2,848 | -96.57 | -149.2 | -156.9 | -163.5 |
| Operating Margin | -19.78% | -34.25% | -71.9% | -132.96% | -8.54% | -13.31% | -13.57% | -14.1% |
| Earnings before Tax (EBT) 1 | 5,359 | 6,292 | -828.6 | 10,460 | 8,755 | 8,263 | 7,527 | 6,844 |
| Net income 1 | 5,821 | 6,763 | 11.22 | 11,961 | 7,147 | 7,735 | 7,293 | 6,702 |
| Net margin | 132.98% | 175.12% | 0.36% | 558.4% | 632.06% | 689.73% | 630.6% | 578.03% |
| EPS 2 | 1.154 | 1.340 | 0.002220 | 2.371 | 1.417 | 1.533 | 1.446 | 1.328 |
| Free Cash Flow 1 | -3,293 | -1,521 | -2,818 | 1,386 | 1,263 | 968 | 185 | -291 |
| FCF margin | -75.23% | -39.38% | -90.23% | 64.71% | 111.66% | 83.4% | 16% | -25.1% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | 1,480.9% | - |
| FCF Conversion (Net income) | - | - | - | 11.59% | 17.67% | 13.44% | 2.54% | - |
| Dividend per Share 2 | 0.0941 | 0.7781 | 0.0945 | - | - | 1.425 | 2.359 | 1.404 |
| Announcement Date | 3/26/19 | 3/27/20 | 7/29/22 | 8/26/22 | 3/29/23 | 3/28/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S1 | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 |
|---|---|---|---|---|---|---|---|---|
| Net sales | 1,904 | 1,958 | 1,450 | 1,673 | 1,526 | 1,584 | - | - |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT 1 | -281.4 | - | -605.5 | -1,640 | -205.1 | -2,824 | - | -73.13 |
| Operating Margin | -14.78% | - | -41.76% | -98.03% | -13.44% | -178.26% | - | - |
| Earnings before Tax (EBT) 1 | - | - | 3,763 | - | - | - | - | 3,808 |
| Net income 1 | 3,230 | 3,533 | 4,045 | - | 7,607 | - | 829.9 | 6,317 |
| Net margin | 169.62% | 180.47% | 278.97% | - | 498.62% | - | - | - |
| EPS | 0.6402 | 0.7003 | 0.8018 | -0.7996 | 1.508 | 2.206 | 0.1645 | - |
| Dividend per Share | - | - | - | - | - | - | - | - |
| Announcement Date | 8/23/19 | 3/27/20 | 8/21/20 | 7/29/22 | 7/29/22 | 8/26/22 | 9/7/22 | 3/29/23 |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,797 | - | 679 | 1,516 | - | - | - | - |
| Net Cash position 1 | - | 2,297 | - | - | 28,106 | 29,921 | 24,566 | 21,525 |
| Leverage (Debt/EBITDA) | -3.053 x | - | -0.3764 x | -0.5979 x | - | - | - | - |
| Free Cash Flow 1 | -3,293 | -1,521 | -2,818 | 1,386 | 1,263 | 968 | 185 | -291 |
| ROE (net income / shareholders' equity) | 20.2% | 20.8% | 0.03% | 24.4% | 15.2% | 14% | 14.9% | 14.2% |
| ROA (Net income/ Total Assets) | 14.6% | 14.8% | -10.2% | 31.6% | 13.6% | 14% | 14.3% | 14.2% |
| Assets 1 | 39,978 | 45,787 | -110.2 | 37,807 | 52,689 | 55,291 | 51,168 | 47,216 |
| Book Value Per Share 2 | 6.160 | 6.720 | 6.600 | 8.390 | 10.20 | 10.10 | 9.260 | 9.340 |
| Cash Flow per Share 2 | -0.5600 | -0.1400 | -0.4400 | 0.3200 | 0.2600 | 1.520 | - | - |
| Capex 1 | 463 | 795 | 618 | 220 | 34.3 | 262 | 347 | 347 |
| Capex / Sales | 10.57% | 20.57% | 19.79% | 10.26% | 3.03% | 22.6% | 30.04% | 29.97% |
| Announcement Date | 3/26/19 | 3/27/20 | 7/29/22 | 8/26/22 | 3/29/23 | 3/28/24 | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
C
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
5.924
CNY
Average target price
7.914
CNY
Spread / Average Target
+33.59%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +47.13% | 4.12B | |
| +35.50% | 300B | |
| +18.88% | 82.12B | |
| +5.58% | 71.52B | |
| +19.41% | 53.62B | |
| +4.92% | 51.06B | |
| +27.62% | 52.28B | |
| +28.00% | 43.93B | |
| +22.60% | 39.41B | |
| +18.24% | 27.31B |
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