Shenzhen Inovance Technology Co.,Ltd

SZSE-300124

Basic

Market Cap
CN¥122.28B
EV
CN¥118.16B
Shares Out
2,675.74M
Revenue
CN¥32.13B
Employees
23,685

Margins

Gross
32.69%
EBITDA
15.47%
Operating
13.77%
Pre-Tax
15.84%
Net
14.96%
FCF
5.21%

Returns (5Yr Avg)

ROA
12.12%
ROTA
21.95%
ROE
21.04%
ROCE
17.36%
ROIC
19.94%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
CN¥71.3
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
CN¥9,529.82M
Net Debt
-CN¥4,658.37M
Debt/Equity
0.19
EBIT/Interest
25.64

Growth (CAGR)

Rev 3Yr
33.92%
Rev 5Yr
39.88%
Rev 10Yr
32.83%
Dil EPS 3Yr
21.89%
Dil EPS 5Yr
32.07%
Dil EPS 10Yr
21.69%
Rev Fwd 2Yr
22.52%
EBITDA Fwd 2Yr
13.31%
EPS Fwd 2Yr
17.25%
EPS LT Growth Est
19.85%

Dividends

Yield
—
Payout
25.03%
DPS
CN¥0.45
DPS Growth 3Yr
23.31%
DPS Growth 5Yr
27.55%
DPS Growth 10Yr
10.48%
DPS Growth Fwd 2Yr
17.09%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Jan '22	Jan '23	Dec '23	LTM
Operating Revenues						7,390.4	11,511.3	17,943.3	22,998.7	30,392.4	32,103.1
Other Revenues, Total	—	—	—	—	—	—	—	—	9.6	27.5	27.5
Total Revenues						7,390.4	11,511.3	17,943.3	23,008.3	30,419.9	32,130.6
Total Revenues % Chg.						25.8%	55.8%	55.9%	28.2%	32.2%	39.6%
Cost of Goods Sold, Total						4,627.5	7,230.3	11,564.6	15,027.5	20,415.9	21,628.4
Gross Profit						2,762.9	4,281	6,378.7	7,980.8	10,004.1	10,502.2
Selling General & Admin Expenses, Total						1,061.7	1,352.6	1,927.4	2,355.5	3,245	3,392.7
Provision for Bad Debts						40.8	79.6	83.9	218.7	316.9	271
R&D Expenses	—	—	—			844.2	1,010.1	1,674.5	2,225.1	2,621.2	2,781.5
Other Operating Expenses						-153.1	-226.5	-375.5	-352.9	-371	-367.6
Other Operating Expenses, Total						1,793.5	2,215.8	3,310.4	4,446.4	5,812	6,077.6
Operating Income						969.4	2,065.3	3,068.3	3,534.4	4,192.1	4,424.6
Interest Expense, Total						-62.9	-78.9	-69.9	-153.1	-178.4	-172.6
Interest And Investment Income						94.5	220.5	529.5	741.1	612.5	607.1
Net Interest Expenses						31.6	141.6	459.6	588	434.1	434.5
Currency Exchange Gains (Loss)						-5.5	80.7	46.7	-80.9	41.2	41.2
Other Non Operating Income (Expenses)						-13.6	-4.6	-9.9	-42.2	-57.9	-98.3
EBT, Excl. Unusual Items						981.9	2,282.9	3,564.7	3,999.3	4,609.6	4,802
Impairment of Goodwill	—	—	—	—	—	-21.3	—	-111.6	-56.1	—	—
Gain (Loss) On Sale Of Investments	—	—	—	—		10.9	-31.4	254.9	367.7	244.9	143.1
Gain (Loss) On Sale Of Assets						-1.9	-2.7	-1.9	0	0.2	0.2
Asset Writedown	—	—				-2.8	-10.7	-8.5	-2.9	-32	-32
Legal Settlements	—	—	—	—	—	—	-6.6	-0	-0.1	-0.4	-0.4
Other Unusual Items						89	112	121.5	168.7	177.8	177.8
EBT, Incl. Unusual Items						1,055.8	2,343.5	3,819.2	4,476.6	5,000.2	5,090.8
Income Tax Expense						45.6	161.8	138.2	152.1	224.7	244
Earnings From Continuing Operations						1,010.1	2,181.7	3,680.9	4,324.5	4,775.6	4,846.8
Minority Interest						-58.2	-81.6	-107.5	-4.7	-33.7	-40.9
Net Income						951.9	2,100.1	3,573.4	4,319.8	4,741.9	4,805.9
Net Income to Common Incl Extra Items						951.9	2,100.1	3,573.4	4,319.8	4,741.9	4,805.9
Net Income to Common Excl. Extra Items						951.9	2,100.1	3,573.4	4,319.8	4,741.9	4,805.9
Total Shares Outstanding						2,597.5	2,579.6	2,634.9	2,656.3	2,689.4	2,703.8
Weighted Avg. Shares Outstanding						2,461.7	2,592.8	2,608.3	2,634	2,664	2,672.8
Weighted Avg. Shares Outstanding Dil						2,461.7	2,592.8	2,627.5	2,650.2	2,664	2,672.8
EPS						0.4	0.8	1.4	1.6	1.8	1.8
EPS Diluted						0.4	0.8	1.4	1.6	1.8	1.8
EBITDA						1,169.6	2,325	3,352.8	3,913	4,703.7	4,969.4
Effective Tax Rate						4.3%	6.9%	3.6%	3.4%	4.5%	4.8%