Financials Shandong Hi-speed Company Limited

Equities

600350

CNE0000019Y2

Highways & Rail Tracks

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
9.23 CNY -0.75% Intraday chart for Shandong Hi-speed Company Limited +1.54% +33.00%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 23,623 29,733 24,826 27,467 33,592 44,677 - -
Enterprise Value (EV) 1 23,623 29,733 24,826 27,467 33,592 44,677 44,677 44,677
P/E ratio 7.78 x 15.5 x 8.66 x 11.3 x 12.1 x 13.2 x 12.4 x 12.6 x
Yield - 6.15% 7.75% 7.03% 6.05% 4.98% 5.53% -
Capitalization / Revenue 3.17 x 2.62 x 1.53 x 1.49 x 1.27 x 1.56 x 1.74 x 1.75 x
EV / Revenue 3.17 x 2.62 x 1.53 x 1.49 x 1.27 x 1.56 x 1.74 x 1.75 x
EV / EBITDA - 5.63 x 3.02 x 3.27 x 3.62 x 3.87 x 3.46 x 3.29 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.74 x 1.05 x 0.67 x 0.93 x 1.16 x 1.21 x 1.09 x 1.32 x
Nbr of stocks (in thousands) 4,811,166 4,811,166 4,811,166 4,827,212 4,840,398 4,840,398 - -
Reference price 2 4.910 6.180 5.160 5.690 6.940 9.230 9.230 9.230
Announcement Date 4/23/20 3/30/21 3/30/22 3/30/23 4/18/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,445 11,365 16,204 18,486 26,546 28,690 25,620 25,477
EBITDA 1 - 5,278 8,215 8,399 9,277 11,538 12,926 13,577
EBIT 1 - 2,930 5,152 5,245 5,430 5,827 6,381 6,796
Operating Margin - 25.78% 31.79% 28.37% 20.45% 20.31% 24.9% 26.68%
Earnings before Tax (EBT) 1 4,124 2,985 5,185 4,846 5,400 5,835 6,307 6,811
Net income 1 3,044 2,039 3,052 2,855 3,297 3,539 3,785 4,072
Net margin 40.88% 17.94% 18.84% 15.45% 12.42% 12.33% 14.77% 15.98%
EPS 2 0.6310 0.4000 0.5960 0.5020 0.5730 0.6967 0.7467 0.7300
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 - 0.3800 0.4000 0.4000 0.4200 0.4600 0.5100 -
Announcement Date 4/23/20 3/30/21 3/30/22 3/30/23 4/18/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2023 Q1
Net sales 1 - - - - - - 4,421
EBITDA - - - - - - -
EBIT - - - - - - -
Operating Margin - - - - - - -
Earnings before Tax (EBT) - - - - - - -
Net income 1,334 730.8 987.6 717.6 822.3 1,540 -
Net margin - - - - - - -
EPS - - - - - - -
Dividend per Share - - - - - - -
Announcement Date 8/24/21 10/29/21 3/30/22 4/27/22 8/30/22 8/30/22 4/27/23
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 10.7% 6.3% 9.87% 8.28% 9.3% 9.94% 8.81% 12%
ROA (Net income/ Total Assets) 4.09% - 2.71% - - 2.3% 2.5% -
Assets 1 74,470 - 112,797 - - 153,855 151,387 -
Book Value Per Share 2 6.680 5.870 7.730 6.120 5.990 7.620 8.510 7.000
Cash Flow per Share 2 - 0.9000 1.910 1.060 1.240 1.530 2.020 2.050
Capex 1 8,738 6,589 8,422 6,728 7,132 9,303 6,242 1,005
Capex / Sales 117.37% 57.97% 51.98% 36.4% 26.87% 32.42% 24.36% 3.94%
Announcement Date 4/23/20 3/30/21 3/30/22 3/30/23 4/18/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
9.23 CNY
Average target price
9.745 CNY
Spread / Average Target
+5.58%
Consensus

Annual profits - Rate of surprise

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