Financials China Railway Hi-tech Industry Corporation Limited

Equities

600528

CNE0000017Z3

Construction & Engineering

End-of-day quote Shanghai S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
7.83 CNY -1.63% Intraday chart for China Railway Hi-tech Industry Corporation Limited -2.37% +5.24%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 23,326 25,548 19,416 18,239 16,950 16,528
Enterprise Value (EV) 1 18,588 19,834 12,333 11,255 9,786 10,048
P/E ratio 15.8 x 15.8 x 11.1 x 10.5 x 9.68 x 10.1 x
Yield 1.1% 1.1% 1.61% 1.77% 1.91% 1.36%
Capitalization / Revenue 1.3 x 1.24 x 0.8 x 0.67 x 0.59 x 0.55 x
EV / Revenue 1.04 x 0.96 x 0.51 x 0.41 x 0.34 x 0.33 x
EV / EBITDA 9.92 x 8.83 x 5.96 x 4.8 x 4.13 x 4.11 x
EV / FCF -24.7 x 55.5 x -28.3 x -65.3 x 322 x -7.49 x
FCF Yield -4.05% 1.8% -3.54% -1.53% 0.31% -13.3%
Price to Book 1.48 x 1.49 x 0.91 x 0.8 x 0.79 x 0.73 x
Nbr of stocks (in thousands) 2,221,552 2,221,552 2,221,552 2,221,552 2,221,552 2,221,552
Reference price 2 10.50 11.50 8.740 8.210 7.630 7.440
Announcement Date 3/27/19 3/30/20 3/29/21 3/28/22 3/27/23 3/29/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 17,898 20,575 24,292 27,157 28,817 30,067
EBITDA 1 1,875 2,246 2,069 2,342 2,371 2,446
EBIT 1 1,453 1,743 1,620 1,750 1,732 1,864
Operating Margin 8.12% 8.47% 6.67% 6.44% 6.01% 6.2%
Earnings before Tax (EBT) 1 1,735 1,863 2,031 2,080 2,079 1,902
Net income 1 1,481 1,627 1,826 1,856 1,867 1,744
Net margin 8.27% 7.91% 7.52% 6.84% 6.48% 5.8%
EPS 2 0.6666 0.7291 0.7900 0.7800 0.7884 0.7351
Free Cash Flow 1 -753.6 357.5 -436.2 -172.3 30.35 -1,341
FCF margin -4.21% 1.74% -1.8% -0.63% 0.11% -4.46%
FCF Conversion (EBITDA) - 15.92% - - 1.28% -
FCF Conversion (Net income) - 21.98% - - 1.63% -
Dividend per Share 2 0.1150 0.1260 0.1410 0.1450 0.1460 0.1013
Announcement Date 3/27/19 3/30/20 3/29/21 3/28/22 3/27/23 3/29/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 4,738 5,713 7,083 6,984 7,165 6,480
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -754 357 -436 -172 30.4 -1,341
ROE (net income / shareholders' equity) 9.76% 9.37% 8.95% 8.23% 7.88% 7.01%
ROA (Net income/ Total Assets) 2.76% 2.99% 2.44% 2.34% 2.11% 2.1%
Assets 1 53,597 54,329 74,923 79,245 88,548 83,221
Book Value Per Share 2 7.080 7.710 9.590 10.20 9.620 10.20
Cash Flow per Share 2 2.270 2.900 3.500 3.380 3.430 3.140
Capex 1 1,254 1,022 1,170 1,708 834 1,193
Capex / Sales 7.01% 4.97% 4.82% 6.29% 2.89% 3.97%
Announcement Date 3/27/19 3/30/20 3/29/21 3/28/22 3/27/23 3/29/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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