Stock 600868 GUANGDONG MEIYANJIXIANG HYDROPOWER CO.,LTD.
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Financials Guangdong Meiyanjixiang Hydropower Co.,Ltd.

Equities

600868

CNE000000HB9

Electric Utilities

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-29 pm EDT 		5-day change 1st Jan Change
2.21 CNY -1.78% Intraday chart for Guangdong Meiyanjixiang Hydropower Co.,Ltd. +2.31% -13.33%
Apr. 29 Guangdong Meiyanjixiang Hydropower Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Apr. 17 Guangdong Meiyanjixiang Hydropower 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 5,410 6,549 5,865 5,638 5,068 4,840
Enterprise Value (EV) 1 5,225 6,223 5,486 5,501 4,894 4,660
P/E ratio 248 x 115 x 171 x 632 x 87.5 x -48.3 x
Yield 0.14% 0.29% 0.19% 0.07% 0.37% -
Capitalization / Revenue 24.3 x 22.7 x 32.2 x 16.2 x 10.2 x 15.4 x
EV / Revenue 23.4 x 21.6 x 30.1 x 15.8 x 9.85 x 14.9 x
EV / EBITDA 51.9 x 33.6 x 57 x 72.1 x 29.2 x 45.3 x
EV / FCF 167 x 47.8 x 76.3 x -31.9 x 117 x 71.5 x
FCF Yield 0.6% 2.09% 1.31% -3.13% 0.85% 1.4%
Price to Book 2.36 x 2.8 x 2.49 x 2.4 x 2.11 x 2.12 x
Nbr of stocks (in thousands) 1,898,149 1,898,149 1,898,149 1,898,149 1,898,149 1,898,149
Reference price 2 2.850 3.450 3.090 2.970 2.670 2.550
Announcement Date 4/8/19 2/27/20 4/15/21 4/28/22 4/28/23 4/17/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 222.8 288.3 182 348.5 497 313.7
EBITDA 1 100.7 185.3 96.18 76.25 167.4 102.9
EBIT 1 28.64 72.62 32.1 32.94 85.71 15.99
Operating Margin 12.85% 25.19% 17.64% 9.45% 17.25% 5.1%
Earnings before Tax (EBT) 1 29.86 65.32 42.08 33.3 87.1 -107.8
Net income 1 21.89 56.67 34.27 8.994 57.86 -100.3
Net margin 9.83% 19.66% 18.83% 2.58% 11.64% -31.97%
EPS 2 0.0115 0.0299 0.0181 0.004700 0.0305 -0.0528
Free Cash Flow 1 31.25 130.1 71.94 -172.3 41.82 65.14
FCF margin 14.03% 45.14% 39.52% -49.45% 8.41% 20.77%
FCF Conversion (EBITDA) 31.04% 70.21% 74.79% - 24.98% 63.3%
FCF Conversion (Net income) 142.74% 229.61% 209.91% - 72.27% -
Dividend per Share 2 0.004000 0.0100 0.006000 0.002000 0.0100 -
Announcement Date 4/8/19 2/27/20 4/15/21 4/28/22 4/28/23 4/17/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 185 325 379 137 174 180
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 31.3 130 71.9 -172 41.8 65.1
ROE (net income / shareholders' equity) 1.15% 2.56% 1.54% 1.13% 3.08% -4.68%
ROA (Net income/ Total Assets) 0.75% 1.91% 0.83% 0.79% 1.89% 0.35%
Assets 1 2,904 2,963 4,107 1,135 3,066 -28,463
Book Value Per Share 2 1.210 1.230 1.240 1.240 1.270 1.210
Cash Flow per Share 2 0.1000 0.1700 0.2000 0.1400 0.1700 0.1700
Capex 1 57.2 32.8 10 9.96 12.9 25.9
Capex / Sales 25.69% 11.39% 5.51% 2.86% 2.59% 8.26%
Announcement Date 4/8/19 2/27/20 4/15/21 4/28/22 4/28/23 4/17/24
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 Hydroelectric & Tidal Utilities

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Hydroelectric & Tidal Utilities
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