XIAMEN CHANGELIGHT CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6.59 CNY | +5.95% |
|
+2.33% | -10.34% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 4,195 | 3,361 | 4,231 | 6,359 | 5,711 | 6,712 |
| Enterprise Value (EV) 1 | 5,672 | 5,366 | 6,480 | 7,455 | 5,526 | 6,991 |
| P/E ratio | 23.3 x | -11.9 x | -17.1 x | 34.6 x | -105 x | 245 x |
| Yield | 0.43% | - | - | 0.17% | - | - |
| Capitalization / Revenue | 4.07 x | 3.23 x | 3.22 x | 3.38 x | 3.36 x | 2.81 x |
| EV / Revenue | 5.51 x | 5.16 x | 4.93 x | 3.97 x | 3.26 x | 2.93 x |
| EV / EBITDA | 23.6 x | -40 x | 55.1 x | 12.7 x | 20.9 x | 18.7 x |
| EV / FCF | -2.98 x | -7.39 x | -31.3 x | 6.42 x | -53.3 x | -18.2 x |
| FCF Yield | -33.5% | -13.5% | -3.19% | 15.6% | -1.88% | -5.5% |
| Price to Book | 1.45 x | 1.29 x | 1.8 x | 2.46 x | 1.4 x | 1.61 x |
| Nbr of stocks (in thousands) | 719,603 | 707,516 | 707,516 | 707,391 | 903,579 | 913,162 |
| Reference price 2 | 5.830 | 4.750 | 5.980 | 8.990 | 6.320 | 7.350 |
| Announcement Date | 4/22/19 | 4/28/20 | 4/25/21 | 4/26/22 | 4/20/23 | 3/25/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 1,030 | 1,039 | 1,316 | 1,879 | 1,698 | 2,387 |
| EBITDA 1 | 240 | -134.1 | 117.6 | 585.9 | 264.3 | 373.2 |
| EBIT 1 | 46.88 | -397 | -251.3 | 216.2 | -98.66 | -9.719 |
| Operating Margin | 4.55% | -38.2% | -19.1% | 11.51% | -5.81% | -0.41% |
| Earnings before Tax (EBT) 1 | 208.6 | -329.8 | -297.3 | 203.3 | -68.05 | 9.959 |
| Net income 1 | 180 | -280 | -246.9 | 186.8 | -50.35 | 31.61 |
| Net margin | 17.48% | -26.94% | -18.77% | 9.94% | -2.97% | 1.32% |
| EPS 2 | 0.2500 | -0.4000 | -0.3500 | 0.2600 | -0.0600 | 0.0300 |
| Free Cash Flow 1 | -1,901 | -726.6 | -206.7 | 1,161 | -103.7 | -384.8 |
| FCF margin | -184.65% | -69.91% | -15.71% | 61.76% | -6.11% | -16.12% |
| FCF Conversion (EBITDA) | - | - | - | 198.06% | - | - |
| FCF Conversion (Net income) | - | - | - | 621.13% | - | - |
| Dividend per Share 2 | 0.0250 | - | - | 0.0150 | - | - |
| Announcement Date | 4/22/19 | 4/28/20 | 4/25/21 | 4/26/22 | 4/20/23 | 3/25/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 1,477 | 2,006 | 2,249 | 1,096 | - | 280 |
| Net Cash position 1 | - | - | - | - | 184 | - |
| Leverage (Debt/EBITDA) | 6.154 x | -14.95 x | 19.13 x | 1.87 x | - | 0.749 x |
| Free Cash Flow 1 | -1,901 | -727 | -207 | 1,161 | -104 | -385 |
| ROE (net income / shareholders' equity) | 6.43% | -10.2% | -10% | 7.52% | -1.54% | 0.76% |
| ROA (Net income/ Total Assets) | 0.5% | -3.74% | -2.4% | 2.2% | -0.94% | -0.09% |
| Assets 1 | 35,847 | 7,492 | 10,309 | 8,493 | 5,344 | -35,474 |
| Book Value Per Share 2 | 4.010 | 3.670 | 3.320 | 3.660 | 4.520 | 4.560 |
| Cash Flow per Share 2 | 1.030 | 1.230 | 0.7200 | 0.6000 | 1.120 | 0.7300 |
| Capex 1 | 1,925 | 689 | 237 | 177 | 223 | 248 |
| Capex / Sales | 186.99% | 66.32% | 18.02% | 9.41% | 13.11% | 10.39% |
| Announcement Date | 4/22/19 | 4/28/20 | 4/25/21 | 4/26/22 | 4/20/23 | 3/25/24 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -10.34% | 839M | |
| +14.78% | 57.58B | |
| -16.72% | 15.02B | |
| +16.63% | 11.4B | |
| +23.57% | 8.83B | |
| +4.26% | 8.68B | |
| +46.52% | 8.59B | |
| -9.47% | 8.21B | |
| -11.58% | 7.71B | |
| -14.44% | 6.74B |
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