Financials Guangzhou Holike Creative Home Co.,Ltd.

Equities

603898

CNE100001V86

Home Furnishings

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
9.53 ^CNY	+4.96%		+14.41%	-13.13%

Apr. 26	Guangzhou Holike Creative Home Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
2023	Guangzhou Holike Creative Home Co.,Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,059	4,840	3,680	3,398	3,293	2,861	-	-
Enterprise Value (EV) ¹	5,082	4,770	4,109	3,753	3,450	3,532	3,367	2,861
P/E ratio	14.1 x	18.7 x	49 x	9.76 x	15.7 x	12.2 x	9.04 x	9.72 x
Yield	2.23%	0.86%	0.54%	6.35%	1.91%	3.98%	5.17%	-
Capitalization / Revenue	2.27 x	2.22 x	1.09 x	1.2 x	1.45 x	1.02 x	0.94 x	0.96 x
EV / Revenue	2.28 x	2.18 x	1.22 x	1.33 x	1.52 x	1.26 x	1.1 x	0.96 x
EV / EBITDA	9.78 x	10.8 x	19.4 x	5.39 x	9.04 x	9.48 x	6.51 x	6.15 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	1.98 x	1.5 x	1.2 x	1.14 x	0.87 x	0.8 x	0.76 x
Nbr of stocks (in thousands)	309,601	300,273	300,161	300,168	300,168	300,168	-	-
Reference price ²	16.34	16.12	12.26	11.32	10.97	9.530	9.530	9.530
Announcement Date	4/21/20	4/14/21	4/27/22	4/25/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,225	2,183	3,371	2,823	2,265	2,812	3,058	2,988
EBITDA ¹	519.4	441.7	212	696.7	381.8	372.5	516.8	465.3
EBIT ¹	414.6	315.3	-8.011	517.1	228.9	257.1	382.9	319.8
Operating Margin	18.63%	14.44%	-0.24%	18.32%	10.1%	9.14%	12.52%	10.7%
Earnings before Tax (EBT) ¹	417.2	311.3	-4.412	507.1	226.6	254.8	377.7	317.6
Net income ¹	364.5	276.1	65.31	431.1	217.2	244.3	341.1	304.4
Net margin	16.38%	12.65%	1.94%	15.27%	9.59%	8.69%	11.15%	10.19%
EPS ²	1.160	0.8600	0.2500	1.160	0.7000	0.7800	1.054	0.9800
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.3650	0.1380	0.0660	0.7190	0.2100	0.3797	0.4929	-
Announcement Date	4/21/20	4/14/21	4/27/22	4/25/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S1	2021 S1	2021 Q4	2022 Q3
Net sales ¹	937.5	1,492	942.3	725.8
EBITDA	-	-	-	-
EBIT	-	-	-	-
Operating Margin	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-
Net income	148.8	138.1	-168.5	-
Net margin	15.87%	9.26%	-17.88%	-
EPS	-	-	-	-
Dividend per Share	-	-	-	-
Announcement Date	8/30/19	8/23/21	4/27/22	10/24/22

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	23	-	429	356	157	672	506	-
Net Cash position ¹	-	70.8	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.0443 x	-	2.023 x	0.5103 x	0.4116 x	1.803 x	0.9795 x	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	15.1%	10.7%	2.46%	15.1%	7.12%	7.31%	8.55%	7.76%
ROA (Net income/ Total Assets)	11.1%	6.22%	1.23%	8.76%	-	6.5%	-	-
Assets ¹	3,293	4,437	5,314	4,922	-	3,758	-	-
Book Value Per Share ²	-	8.160	8.180	9.460	9.640	11.00	11.90	12.60
Cash Flow per Share ²	1.300	1.790	0.9500	1.100	1.490	1.050	2.730	0.5500
Capex ¹	487	351	220	180	37	133	135	-
Capex / Sales	21.87%	16.06%	6.53%	6.39%	1.63%	4.73%	4.41%	-
Announcement Date	4/21/20	4/14/21	4/27/22	4/25/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Guangzhou Holike Creative Home Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

9.53 CNY

Average target price

10.01 CNY

Spread / Average Target

+5.00%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Furniture

	1st Jan change	Capi.
GUANGZHOU HOLIKE CREATIVE HOME CO.,LTD.	-13.13%	376M
TEMPUR SEALY INTERNATIONAL, INC.	-0.35%	8.67B
JASON FURNITURE (HANGZHOU) CO.,LTD.	-0.14%	3.79B
SUOFEIYA HOME COLLECTION CO., LTD.	+12.54%	2.22B
DE RUCCI HEALTHY SLEEP CO., LTD.	+11.64%	1.8B
LA-Z-BOY INCORPORATED	-9.40%	1.41B
SHEELA FOAM LIMITED	-26.28%	1.18B
MOTOMOTION CHINA CORPORATION	+34.81%	1.13B
XILINMEN FURNITURE CO.,LTD	+11.41%	928M
HENGLIN HOME FURNISHINGS CO.,LTD	-2.51%	816M

Furniture