Financials Guangxi Guiguan Electric PowerCo.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
6.31 ^CNY	+2.10%		+1.45%	+13.90%

Apr. 24	Guangxi Guiguan Electric PowerCo.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 09	Guangxi Guiguan Electric's Total Power Generation Falls 1.2% in Q1	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	38,545	35,155	50,605	45,402	43,668	49,738	-	-
Enterprise Value (EV) ¹	61,266	55,844	50,605	45,402	43,668	49,738	49,738	49,738
P/E ratio	18.2 x	16 x	39.6 x	14.5 x	38.3 x	18.2 x	15.4 x	11.3 x
Yield	3.89%	4.26%	2.34%	3.47%	-	3.46%	3.76%	-
Capitalization / Revenue	4.26 x	3.92 x	6.01 x	4.27 x	5.4 x	4.78 x	4.33 x	3.48 x
EV / Revenue	4.26 x	3.92 x	6.01 x	4.27 x	5.4 x	4.78 x	4.33 x	3.48 x
EV / EBITDA	7.26 x	6.68 x	12.8 x	7.17 x	11.8 x	7.96 x	6.95 x	5.3 x
EV / FCF	-	-	-	-	-	123 x	-14.3 x	-52.7 x
FCF Yield	-	-	-	-	-	0.82%	-6.97%	-1.9%
Price to Book	2.66 x	2.3 x	-	-	2.77 x	2.52 x	2.31 x	2.12 x
Nbr of stocks (in thousands)	7,882,378	7,882,378	7,882,378	7,882,378	7,882,378	7,882,378	-	-
Reference price ²	4.890	4.460	6.420	5.760	5.540	6.310	6.310	6.310
Announcement Date	4/17/20	4/28/21	4/27/22	4/27/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	9,043	8,974	8,414	10,625	8,091	10,395	11,479	14,304
EBITDA ¹	5,307	5,265	3,946	6,334	3,704	6,245	7,161	9,378
EBIT ¹	2,930	3,004	1,911	4,254	1,557	3,996	4,656	5,967
Operating Margin	32.4%	33.47%	22.71%	40.04%	19.24%	38.44%	40.56%	41.72%
Earnings before Tax (EBT) ¹	2,896	2,962	1,897	4,205	1,580	3,698	4,373	5,967
Net income ¹	2,114	2,197	1,352	3,209	1,226	2,766	3,267	4,413
Net margin	23.38%	24.48%	16.07%	30.2%	15.15%	26.61%	28.46%	30.85%
EPS ²	0.2682	0.2783	0.1622	0.3965	0.1448	0.3460	0.4096	0.5600
Free Cash Flow ¹	-	-	-	-	-	406	-3,469	-943
FCF margin	-	-	-	-	-	3.91%	-30.22%	-6.59%
FCF Conversion (EBITDA)	-	-	-	-	-	6.5%	-	-
FCF Conversion (Net income)	-	-	-	-	-	14.68%	-	-
Dividend per Share ²	0.1900	0.1900	0.1500	0.2000	-	0.2184	0.2374	-
Announcement Date	4/17/20	4/28/21	4/27/22	4/27/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	22,721	20,689	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.282 x	3.93 x	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-	-	406	-3,469	-943
ROE (net income / shareholders' equity)	14.7%	14.9%	8.58%	19.6%	6.93%	15.1%	17.5%	18.8%
ROA (Net income/ Total Assets)	4.7%	4.95%	-	-	-	5.83%	6.26%	6.51%
Assets ¹	44,958	44,366	-	-	-	47,449	52,190	67,788
Book Value Per Share ²	1.840	1.940	-	-	2.000	2.500	2.730	2.980
Cash Flow per Share	-	0.7100	-	-	-	-	-	-
Capex ¹	778	2,606	-	-	3,691	5,500	11,000	10,000
Capex / Sales	8.6%	29.04%	-	-	45.62%	52.91%	95.83%	69.91%
Announcement Date	4/17/20	4/28/21	4/27/22	4/27/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.31 CNY

Average target price

7.7 CNY

Spread / Average Target

+22.03%

	1st Jan change	Capi.
GUANGXI GUIGUAN ELECTRIC POWERCO.,LTD.	+13.90%	6.87B
CHINA YANGTZE POWER CO., LTD.	+10.50%	87.18B
CENTRAIS ELETRICAS BRASILEIRAS S.A.	-11.54%	16.66B
NHPC LIMITED	+48.92%	11.58B
SICHUAN CHUANTOU ENERGY CO.LTD	+10.78%	11.28B
BROOKFIELD RENEWABLE PARTNERS L.P.	-8.19%	10.19B
MERIDIAN ENERGY LIMITED	+8.30%	9.19B
MERCURY NZ LIMITED	-3.33%	5.26B
CHINA SOUTHERN POWER GRID ENERGY STORAGE CO., LTD.	+1.01%	4.4B
FEDERAL HYDRO-GENERATING COMPANY - RUSHYDRO	-.--%	3.78B