Financials Dongxing Securities Corporation Limited

Equities

601198

CNE100002177

Investment Banking & Brokerage Services

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
8.43 CNY +5.51% Intraday chart for Dongxing Securities Corporation Limited +4.98% +2.43%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 26,366 36,240 36,736 37,593 24,954 26,603
Enterprise Value (EV) 1 37,155 43,868 47,553 41,667 43,366 54,454
P/E ratio 26.1 x 29.7 x 23.9 x 20 x 48.3 x 32.4 x
Yield 1.15% 1.07% 1.28% 2.24% 0.65% 1.24%
Capitalization / Revenue 8 x 9.23 x 6.49 x 7 x 7.32 x 5.65 x
EV / Revenue 11.3 x 11.2 x 8.4 x 7.76 x 12.7 x 11.6 x
EV / EBITDA - - - - - -
EV / FCF - - - - - -
FCF Yield - - - - - -
Price to Book 1.34 x 1.79 x 1.74 x 1.41 x 0.96 x 0.98 x
Nbr of stocks (in thousands) 2,757,961 2,757,961 2,757,961 3,232,446 3,232,446 3,232,446
Reference price 2 9.560 13.14 13.32 11.63 7.720 8.230
Announcement Date 4/26/19 4/29/20 4/26/21 4/28/22 3/30/23 4/3/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 3,295 3,928 5,661 5,371 3,408 4,712
EBITDA - - - - - -
EBIT - - - - - -
Operating Margin - - - - - -
Earnings before Tax (EBT) 1 1,190 1,453 1,945 2,003 550.5 942.5
Net income 1 1,008 1,221 1,540 1,652 517.2 819.7
Net margin 30.59% 31.08% 27.2% 30.76% 15.18% 17.4%
EPS 2 0.3660 0.4430 0.5580 0.5820 0.1600 0.2540
Free Cash Flow - - - - - -
FCF margin - - - - - -
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 0.1100 0.1400 0.1700 0.2600 0.0500 0.1020
Announcement Date 4/26/19 4/29/20 4/26/21 4/28/22 3/30/23 4/3/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 10,789 7,629 10,817 4,074 18,411 27,851
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow - - - - - -
ROE (net income / shareholders' equity) 5.18% 6.11% 7.42% 6.9% 1.96% 3.09%
ROA (Net income/ Total Assets) 1.32% 1.6% 1.88% 1.78% 0.52% 0.82%
Assets 1 76,379 76,237 81,941 92,666 100,388 100,286
Book Value Per Share 2 7.120 7.360 7.670 8.250 8.060 8.370
Cash Flow per Share 2 1.150 0.9800 0.8500 0.9200 0.9300 0.5500
Capex 1 69.5 70.7 73.6 123 111 97.5
Capex / Sales 2.11% 1.8% 1.3% 2.29% 3.25% 2.07%
Announcement Date 4/26/19 4/29/20 4/26/21 4/28/22 3/30/23 4/3/24
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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