CHINA ANCHU ENERGY STORAGE GROUP LIMITED

Financials China Anchu Energy Storage Group Limited

Equities

2399

KYG211271161

Appliances, Tools & Housewares

Market Closed - Hong Kong S.E. Other stock markets 04:08:22 2024-05-10 am EDT			5-day change	1st Jan Change
0.315 ^HKD	-3.08%		-5.97%	-64.20%

Mar. 27	China Anchu Energy Storage Group Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	China Anchu Energy Storage Issues Shares to Two Convertible Bondholders	MT

Valuation

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Capitalization ¹	2,451	3,340	4,040	5,472	1,006	1,035
Enterprise Value (EV) ¹	2,424	3,316	4,071	5,786	1,338	1,503
P/E ratio	111 x	-75.2 x	-13 x	-9.91 x	-6.38 x	-10 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	2.17 x	5.47 x	11.3 x	20.3 x	2.69 x	1.71 x
EV / Revenue	2.15 x	5.43 x	11.3 x	21.4 x	3.58 x	2.49 x
EV / EBITDA	22.1 x	115 x	-94.8 x	-66.4 x	-21.7 x	-29.7 x
EV / FCF	-275 x	47 x	-77.6 x	-26.1 x	-37.9 x	-9.62 x
FCF Yield	-0.36%	2.13%	-1.29%	-3.83%	-2.64%	-10.4%
Price to Book	1.69 x	2.38 x	3.69 x	10.1 x	2.25 x	2.49 x
Nbr of stocks (in thousands)	1,923,600	1,923,600	1,923,600	1,923,600	2,092,018	2,212,018
Reference price ²	1.274	1.736	2.100	2.845	0.4807	0.4681
Announcement Date	3/26/18	4/26/19	5/15/20	4/22/21	5/10/22	4/27/23

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Net sales ¹	1,129	611	359	270.1	373.9	603.9
EBITDA ¹	109.6	28.92	-42.92	-87.2	-61.58	-50.52
EBIT ¹	70.53	-33.38	-106.7	-147.2	-121	-71.3
Operating Margin	6.24%	-5.46%	-29.73%	-54.49%	-32.37%	-11.81%
Earnings before Tax (EBT) ¹	40.54	-51.14	-336.8	-579.8	-147.1	-108
Net income ¹	22.13	-44.44	-310.9	-552.2	-178.1	-100
Net margin	1.96%	-7.27%	-86.61%	-204.48%	-47.63%	-16.56%
EPS ²	0.0115	-0.0231	-0.1616	-0.2871	-0.0753	-0.0467
Free Cash Flow ¹	-8.817	70.49	-52.48	-221.7	-35.29	-156.2
FCF margin	-0.78%	11.54%	-14.62%	-82.09%	-9.44%	-25.86%
FCF Conversion (EBITDA)	-	243.69%	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	3/26/18	4/26/19	5/15/20	4/22/21	5/10/22	4/27/23

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Net Debt ¹	-	-	30.8	314	332	467
Net Cash position ¹	26.9	24.6	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-0.7168 x	-3.599 x	-5.393 x	-9.252 x
Free Cash Flow ¹	-8.82	70.5	-52.5	-222	-35.3	-156
ROE (net income / shareholders' equity)	1.54%	-3.08%	-24.3%	-67.4%	-33.5%	-19.9%
ROA (Net income/ Total Assets)	1.92%	-0.92%	-3.29%	-6.13%	-6.51%	-3.64%
Assets ¹	1,150	4,837	9,453	9,007	2,734	2,749
Book Value Per Share ²	0.7500	0.7300	0.5700	0.2800	0.2100	0.1900
Cash Flow per Share ²	0.2600	0.2800	0.2500	0.1000	0.0600	0.0200
Capex ¹	247	24.5	49.8	100	50.7	45.9
Capex / Sales	21.89%	4.02%	13.87%	37.11%	13.57%	7.59%
Announcement Date	3/26/18	4/26/19	5/15/20	4/22/21	5/10/22	4/27/23

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Appliance & Houseware Wholesale

	1st Jan change	Capi.
CHINA ANCHU ENERGY STORAGE GROUP LIMITED	-64.20%	111M
AL-SAIF STORES FOR DEVELOPMENT & INVESTMENT COMPANY	+28.94%	1.06B
SHANGHAI YCT ELECTRONICS GROUP CO.,LTD	-21.02%	445M
TEST-RITE INTERNATIONAL CO., LTD.	-0.24%	320M
TENPOS HOLDINGS CO.,LTD.	+13.21%	248M
SINGER THAILAND	-14.22%	221M
FIAMMA HOLDINGS	+26.60%	133M
UP YOUNG CORNERSTONE CORP.	+3.62%	101M
SINGER (SRI LANKA) PLC	+48.33%	67.18M
PT HOMECO VICTORIA MAKMUR TBK	0.00%	52.03M

Appliance & Houseware Wholesale

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Financials China Anchu Energy Storage Group Limited

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