Financials Yantai Changyu Pioneer Wine Company Limited

Equities

000869

CNE000001568

Distillers & Wineries

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
24.18 CNY -8.30% Intraday chart for Yantai Changyu Pioneer Wine Company Limited -9.10% +0.17%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2024 2025 2026
Capitalization 1 16,231 22,873 17,073 16,085 13,074 - -
Enterprise Value (EV) 1 16,231 22,873 17,073 16,085 13,074 13,074 13,074
P/E ratio 17.4 x 63.2 x 43.6 x 48 x 28.4 x 26.4 x 22.8 x
Yield 2.44% 0.92% 1.41% 1.49% 2.23% 2.38% 2.89%
Capitalization / Revenue 3.23 x 6.74 x 4.32 x 4.1 x 2.75 x 2.54 x 2.39 x
EV / Revenue 3.23 x 6.74 x 4.32 x 4.1 x 2.75 x 2.54 x 2.39 x
EV / EBITDA 8.82 x 23 x 16.6 x 16.6 x 11.5 x 10.8 x 9.79 x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Price to Book 1.91 x 2.91 x 2.09 x 1.96 x 1.51 x 1.48 x 1.45 x
Nbr of stocks (in thousands) 685,464 685,464 685,464 685,464 692,250 - -
Reference price 2 28.70 43.60 31.86 30.24 24.18 24.18 24.18
Announcement Date 4/23/20 4/27/21 4/26/22 4/12/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2024 2025 2026
Net sales 1 5,031 3,395 3,953 3,919 4,754 5,150 5,465
EBITDA 1 1,841 993.7 1,029 968.8 1,141 1,210 1,335
EBIT 1 1,488 654.7 716.8 621.7 967.5 1,054 1,374
Operating Margin 29.58% 19.28% 18.13% 15.86% 20.35% 20.45% 25.14%
Earnings before Tax (EBT) 1 1,531 664.9 715.7 625.6 811 847 -
Net income 1 1,130 470.9 500.1 428.7 589.5 634 731
Net margin 22.46% 13.87% 12.65% 10.94% 12.4% 12.31% 13.38%
EPS 2 1.650 0.6900 0.7300 0.6300 0.8500 0.9150 1.060
Free Cash Flow - - - - - - -
FCF margin - - - - - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.7000 0.4000 0.4500 0.4500 0.5400 0.5750 0.7000
Announcement Date 4/23/20 4/27/21 4/26/22 4/12/23 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2024 2025 2026
Net Debt - - - - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow - - - - - - -
ROE (net income / shareholders' equity) 11.3% 4.57% 4.84% 4.09% 5.35% 5.6% 6.4%
ROA (Net income/ Total Assets) 8.44% 3.51% 3.72% 3.22% 4.3% 4.3% -
Assets 1 13,383 13,434 13,458 13,322 13,709 14,744 -
Book Value Per Share 2 15.00 15.00 15.20 15.40 16.10 16.40 16.60
Cash Flow per Share 2 1.220 0.7400 1.640 1.270 1.030 1.080 1.170
Capex 1 281 107 218 170 165 171 165
Capex / Sales 5.59% 3.14% 5.5% 4.35% 3.46% 3.31% 3.02%
Announcement Date 4/23/20 4/27/21 4/26/22 4/12/23 - - -
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

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
24.18 CNY
Average target price
27.7 CNY
Spread / Average Target
+14.56%
Consensus

Annual profits - Rate of surprise

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