Stock 601608 CITIC HEAVY INDUSTRIES CO., LTD.
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Financials CITIC Heavy Industries Co., Ltd.

Equities

601608

CNE100001SX7

Industrial Machinery & Equipment

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-29 pm EDT 		5-day change 1st Jan Change
4.33 CNY -1.81% Intraday chart for CITIC Heavy Industries Co., Ltd. -8.26% +12.18%
Apr. 25 CITIC Heavy Industries Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Mar. 11 CITIC Heavy Industries Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 11,282 16,143 17,184 19,354 15,145 16,750
Enterprise Value (EV) 1 14,403 19,194 20,166 22,362 17,362 17,845
P/E ratio 130 x 124 x 79.2 x 85.8 x 103 x 43.9 x
Yield 0.12% 0.19% 0.36% 0.37% 0.33% 0.74%
Capitalization / Revenue 2.17 x 3.08 x 2.72 x 2.56 x 1.72 x 1.75 x
EV / Revenue 2.77 x 3.66 x 3.19 x 2.96 x 1.97 x 1.87 x
EV / EBITDA 27.8 x 37.3 x 33.4 x 50.8 x 64.4 x 30.4 x
EV / FCF -1,706 x -23.1 x -174 x -191 x 49.3 x 14.5 x
FCF Yield -0.06% -4.33% -0.57% -0.52% 2.03% 6.9%
Price to Book 1.58 x 2.25 x 2.35 x 2.57 x 1.98 x 2.09 x
Nbr of stocks (in thousands) 4,339,419 4,339,419 4,339,419 4,339,419 4,339,419 4,339,419
Reference price 2 2.600 3.720 3.960 4.460 3.490 3.860
Announcement Date 3/25/19 3/23/20 3/22/21 3/25/22 3/17/23 3/15/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 5,201 5,240 6,318 7,550 8,827 9,557
EBITDA 1 517.5 514.4 602.9 440.1 269.7 586.1
EBIT 1 242.5 240.2 327.1 123.1 -60.21 291.5
Operating Margin 4.66% 4.58% 5.18% 1.63% -0.68% 3.05%
Earnings before Tax (EBT) 1 202.5 170.4 211.4 243.3 169.5 404.9
Net income 1 106.2 116.9 195.1 226.6 145.5 383.6
Net margin 2.04% 2.23% 3.09% 3% 1.65% 4.01%
EPS 2 0.0200 0.0300 0.0500 0.0520 0.0340 0.0880
Free Cash Flow 1 -8.444 -830.6 -115.7 -117.3 352.4 1,231
FCF margin -0.16% -15.85% -1.83% -1.55% 3.99% 12.88%
FCF Conversion (EBITDA) - - - - 130.65% 210.01%
FCF Conversion (Net income) - - - - 242.15% 320.86%
Dividend per Share 2 0.003100 0.007100 0.0142 0.0165 0.0114 0.0285
Announcement Date 3/25/19 3/23/20 3/22/21 3/25/22 3/17/23 3/15/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 3,120 3,051 2,982 3,008 2,218 1,095
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 6.03 x 5.931 x 4.946 x 6.834 x 8.223 x 1.869 x
Free Cash Flow 1 -8.44 -831 -116 -117 352 1,231
ROE (net income / shareholders' equity) 2.06% 1.85% 2.65% 2.9% 2.12% 4.9%
ROA (Net income/ Total Assets) 0.77% 0.74% 1% 0.38% -0.19% 0.96%
Assets 1 13,801 15,737 19,550 59,757 -77,115 39,850
Book Value Per Share 2 1.650 1.650 1.680 1.740 1.760 1.850
Cash Flow per Share 2 0.8700 0.8500 0.5700 0.4900 0.3800 0.2800
Capex 1 350 401 368 315 133 147
Capex / Sales 6.73% 7.65% 5.82% 4.17% 1.5% 1.54%
Announcement Date 3/25/19 3/23/20 3/22/21 3/25/22 3/17/23 3/15/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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