Financials Shanghai Mechanical & Electrical Industry Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
12.82 ^CNY	+0.79%		-3.61%	+8.00%

Apr. 26	Shanghai Mechanical & Electrical Industry Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Mar. 22	Shanghai Mechanical & Electrical Industry Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	15,597	17,792	14,713	10,572	10,969	11,815	-	-
Enterprise Value (EV) ¹	3,248	6,045	3,042	-1,544	10,969	11,815	11,815	11,815
P/E ratio	15.6 x	17.7 x	20.2 x	11.7 x	12.1 x	12.8 x	9.64 x	8.27 x
Yield	2.23%	2%	1.82%	3.83%	-	-	-	-
Capitalization / Revenue	0.71 x	0.76 x	0.6 x	0.45 x	0.49 x	0.53 x	0.5 x	0.46 x
EV / Revenue	0.71 x	0.76 x	0.6 x	0.45 x	0.49 x	0.53 x	0.5 x	0.46 x
EV / EBITDA	7.41 x	8.18 x	10.1 x	5.64 x	5.69 x	7.44 x	5.51 x	4.75 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.49 x	1.67 x	1.32 x	0.89 x	0.9 x	0.93 x	0.88 x	0.81 x
Nbr of stocks (in thousands)	1,022,739	1,022,739	1,022,739	1,022,739	1,022,739	1,022,739	-	-
Reference price ²	16.57	19.46	15.92	11.22	11.87	12.82	12.82	12.82
Announcement Date	4/2/20	3/17/21	3/24/22	3/24/23	3/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	22,116	23,394	24,717	23,570	22,321	22,349	23,525	25,473
EBITDA ¹	2,104	2,175	1,463	1,875	1,928	1,588	2,144	2,489
EBIT ¹	1,878	1,936	1,232	1,630	1,685	1,730	2,310	2,686
Operating Margin	8.49%	8.27%	4.98%	6.91%	7.55%	7.74%	9.82%	10.54%
Earnings before Tax (EBT) ¹	1,917	1,971	1,285	-	1,713	1,759	2,339	2,715
Net income ¹	1,080	1,130	810.9	-	999.9	1,026	1,365	1,584
Net margin	4.88%	4.83%	3.28%	-	4.48%	4.59%	5.8%	6.22%
EPS ²	1.060	1.100	0.7900	0.9600	0.9800	1.000	1.330	1.550
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	0.3700	0.3900	0.2900	0.4300	-	-	-	-
Announcement Date	4/2/20	3/17/21	3/24/22	3/24/23	3/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	12,349	11,748	11,671	12,116	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	9.8%	9.69%	6.71%	7.78%	7.59%	9.24%	11.2%	11.8%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	11.10	11.70	12.00	12.70	13.20	13.70	14.60	15.70
Cash Flow per Share ²	0.1700	1.070	0.7000	0.6800	1.240	0.5400	2.080	1.720
Capex ¹	280	272	164	-	71.5	11.2	85.6	147
Capex / Sales	1.27%	1.16%	0.67%	-	0.32%	0.05%	0.36%	0.58%
Announcement Date	4/2/20	3/17/21	3/24/22	3/24/23	3/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

12.82 CNY

Average target price

14 CNY

Spread / Average Target

+9.20%

	1st Jan change	Capi.
SHANGHAI MECHANICAL & ELECTRICAL INDUSTRY CO.,LTD.	+8.00%	1.63B
SCHINDLER HOLDING AG	+11.78%	26.48B
KONE OYJ	+3.34%	25.01B
DAIFUKU CO., LTD.	+11.17%	7.47B
INTERROLL HOLDING AG	+9.93%	2.62B
KARDEX HOLDING AG	+8.72%	2.03B
FUJITEC CO., LTD.	+6.26%	1.88B
GUANGZHOU GUANGRI STOCK CO.,LTD.	+52.24%	1.33B
ATLANTIS GLORY INC.	-99.92%	1.24B
HYUNDAI ELEVATOR CO., LTD	-9.58%	1.05B