XINYI ENERGY HOLDINGS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.19 HKD | +0.85% |
|
+3.48% | -16.78% |
| Feb. 28 | Xinyi Solar CEO to Resign in April; Replacement Named | MT |
| Feb. 28 | Xinyi Energy Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 13,775 | 37,399 | 30,360 | 19,271 | 9,743 | 9,743 | - |
| Enterprise Value (EV) 1 | 14,097 | 38,469 | 34,135 | 23,130 | 17,432 | 16,328 | 17,447 |
| P/E ratio | 13.6 x | 39.1 x | 24.6 x | 19.4 x | 11.4 x | 8.09 x | 7.12 x |
| Yield | 6.62% | 2.76% | 4.07% | 5.83% | 4.2% | 5.94% | 6.9% |
| Capitalization / Revenue | 8.65 x | 21.7 x | 13.2 x | 8.32 x | 4.69 x | 3.38 x | 2.94 x |
| EV / Revenue | 8.85 x | 22.3 x | 14.9 x | 9.99 x | 6.92 x | 5.66 x | 5.27 x |
| EV / EBITDA | 9.38 x | 23.5 x | 15.6 x | 10.8 x | 7.49 x | 6.29 x | 5.87 x |
| EV / FCF | 14.8 x | 63.8 x | 85.5 x | 17.1 x | -9.29 x | -9.53 x | -13.9 x |
| FCF Yield | 6.77% | 1.57% | 1.17% | 5.85% | -10.8% | -10.5% | -7.2% |
| Price to Book | 1.19 x | 3.12 x | 2.42 x | 1.61 x | 0.89 x | 0.71 x | 0.67 x |
| Nbr of stocks (in thousands) | 6,752,478 | 7,109,998 | 7,109,998 | 7,440,400 | 8,256,589 | 8,256,589 | - |
| Reference price 2 | 2.040 | 5.260 | 4.270 | 2.590 | 1.180 | 1.180 | 1.180 |
| Announcement Date | 3/16/20 | 3/1/21 | 2/28/22 | 2/27/23 | 2/28/24 | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,201 | 1,593 | 1,722 | 2,297 | 2,315 | 2,517 | 2,883 | 3,309 |
| EBITDA 1 | - | 1,502 | 1,640 | 2,185 | 2,140 | 2,327 | 2,598 | 2,974 |
| EBIT 1 | - | 1,171 | 1,213 | 1,626 | 1,571 | 1,653 | 1,881 | 2,177 |
| Operating Margin | - | 73.49% | 70.45% | 70.79% | 67.87% | 65.67% | 65.25% | 65.81% |
| Earnings before Tax (EBT) 1 | - | 1,022 | 1,089 | 1,456 | 1,272 | 1,298 | 1,517 | 1,776 |
| Net income 1 | - | 891 | 922 | 1,232 | 971.5 | 993 | 1,169 | 1,365 |
| Net margin | - | 55.93% | 53.54% | 53.66% | 41.96% | 39.45% | 40.54% | 41.27% |
| EPS 2 | 137.4 | 0.1503 | 0.1344 | 0.1733 | 0.1333 | 0.1256 | 0.1458 | 0.1657 |
| Free Cash Flow 1 | - | 954 | 603.4 | 399.2 | 1,353 | -1,877 | -1,714 | -1,256 |
| FCF margin | - | 59.88% | 35.04% | 17.38% | 58.43% | -74.57% | -59.45% | -37.95% |
| FCF Conversion (EBITDA) | - | 63.5% | 36.8% | 18.27% | 63.21% | - | - | - |
| FCF Conversion (Net income) | - | 107.07% | 65.44% | 32.4% | 139.27% | - | - | - |
| Dividend per Share 2 | - | 0.1350 | 0.1450 | 0.1740 | 0.1510 | 0.0600 | 0.0701 | 0.0814 |
| Announcement Date | 5/15/19 | 3/16/20 | 3/1/21 | 2/28/22 | 2/27/23 | 2/28/24 | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 |
|---|---|---|---|---|---|---|
| Net sales 1 | - | 1,113 | 1,184 | 1,258 | 1,058 | 1,289 |
| EBITDA | - | - | - | - | - | - |
| EBIT 1 | - | 804.2 | 821 | 888.1 | 682.6 | 886 |
| Operating Margin | - | 72.28% | 69.34% | 70.61% | 64.55% | 68.76% |
| Earnings before Tax (EBT) | - | - | - | - | - | - |
| Net income 1 | 437.6 | - | 611.5 | - | - | 566.9 |
| Net margin | - | - | 51.65% | - | - | 43.99% |
| EPS 2 | - | - | - | - | - | 0.0749 |
| Dividend per Share | - | - | - | - | - | - |
| Announcement Date | 8/3/20 | 9/30/22 | 2/28/22 | 8/1/22 | 2/27/23 | 7/31/23 |
1HKD in Million2HKD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 322 | 1,070 | 3,775 | 3,859 | 5,625 | 6,585 | 7,704 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.2142 x | 0.6528 x | 1.728 x | 1.803 x | 2.417 x | 2.535 x | 2.59 x |
| Free Cash Flow 1 | - | 954 | 603 | 399 | 1,353 | -1,877 | -1,714 | -1,256 |
| ROE (net income / shareholders' equity) | - | 10.8% | 8.31% | 10% | 7.99% | 7.93% | 8.52% | 9.58% |
| ROA (Net income/ Total Assets) | - | 7.54% | 5.73% | 6.41% | 4.72% | 4.84% | 5.41% | 5.65% |
| Assets 1 | - | 11,811 | 16,099 | 19,218 | 20,571 | 20,537 | 21,588 | 24,177 |
| Book Value Per Share 2 | - | 1.720 | 1.690 | 1.770 | 1.610 | 1.610 | 1.670 | 1.750 |
| Cash Flow per Share 2 | - | 0.1900 | 0.1600 | 0.1700 | 0.4000 | 0.1000 | 0.1900 | 0.2300 |
| Capex 1 | - | 167 | 468 | 826 | 1,547 | 2,630 | 2,318 | 2,321 |
| Capex / Sales | - | 10.45% | 27.15% | 35.96% | 66.8% | 104.48% | 80.39% | 70.14% |
| Announcement Date | 5/15/19 | 3/16/20 | 3/1/21 | 2/28/22 | 2/27/23 | 2/28/24 | - | - |
1HKD in Million2HKD
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
1.18
HKD
Average target price
1.351
HKD
Spread / Average Target
+14.46%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -16.78% | 1.25B | |
| +15.49% | 34.92B | |
| +9.73% | 23.6B | |
| -18.43% | 16.78B | |
| -3.02% | 7B | |
| +0.66% | 5.02B | |
| -6.24% | 4.3B | |
| -5.82% | 4.27B | |
| -0.59% | 3.15B | |
| +8.79% | 2.97B |
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- Financials Xinyi Energy Holdings Limited
