Financials Hangzhou Huaguang Advanced Welding Materials Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 18:00:00 2024-05-30 EDT			5-day change	1st Jan Change
15.16 ^CNY	-.--%		-1.04%	-23.32%

04-29	Hangzhou Huaguang Advanced Welding Materials Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
03-16	Hangzhou Huaguang Investment Co., Ltd. acquired 9.75% stake in Hangzhou Huaguang Advanced Welding Materials Co.,Ltd. from Hangzhou Tongzhou Investment Co., Ltd. for CNY 10.63 million.	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,131	1,936	1,409	1,702	1,316	-	-
Enterprise Value (EV) ¹	2,131	1,936	1,409	1,702	1,316	1,316	1,316
P/E ratio	27.5 x	44.9 x	163 x	41.2 x	21.4 x	14.9 x	12.8 x
Yield	-	-	-	-	1.32%	1.39%	1.45%
Capitalization / Revenue	2.48 x	-	1.15 x	1.2 x	0.72 x	0.58 x	0.56 x
EV / Revenue	2.48 x	-	1.15 x	1.2 x	0.72 x	0.58 x	0.56 x
EV / EBITDA	-	-	61.4 x	24.9 x	11.1 x	7.39 x	6.58 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	2.39 x	-	1.61 x	1.87 x	1.4 x	1.3 x	1.21 x
Nbr of stocks (in thousands)	88,000	88,000	86,444	86,094	86,789	-	-
Reference price ²	24.22	22.00	16.30	19.77	15.16	15.16	15.16
Announcement Date	2/25/21	2/25/22	4/11/23	2/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	860.3	-	1,220	1,415	1,825	2,272	2,353
EBITDA ¹	-	-	22.97	68.48	119	178	200
EBIT ¹	71.53	-	2.007	41.72	63	91	105
Operating Margin	8.31%	-	0.16%	2.95%	3.45%	4.01%	4.46%
Earnings before Tax (EBT) ¹	71.95	-	0.9116	41.03	63	90	104
Net income ¹	64.68	43.4	8.718	41.6	63	91	105
Net margin	7.52%	-	0.71%	2.94%	3.45%	4.01%	4.46%
EPS ²	0.8800	0.4900	0.1000	0.4800	0.7100	1.020	1.180
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	0.2000	0.2100	0.2200
Announcement Date	2/25/21	2/25/22	4/11/23	2/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	10%	-	0.96%	4.55%	6.5%	8.8%	9.4%
ROA (Net income/ Total Assets)	-	-	0.54%	2.36%	2.6%	3%	3.4%
Assets ¹	-	-	1,611	1,761	2,423	3,033	3,088
Book Value Per Share ²	10.10	-	10.10	10.60	10.80	11.60	12.60
Cash Flow per Share ²	-3.810	-	-3.800	-2.300	-2.080	-1.760	1.630
Capex ¹	-	-	102	-	211	171	11
Capex / Sales	-	-	8.34%	-	11.56%	7.53%	0.47%
Announcement Date	2/25/21	2/25/22	4/11/23	2/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

15.16 CNY

Average target price

24.85 CNY

Spread / Average Target

+63.92%

	1st Jan change	Capi.
HANGZHOU HUAGUANG ADVANCED WELDING MATERIALS CO.,LTD.	-23.32%	182M
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ZHEJIANG HUAYOU COBALT CO., LTD	-12.54%	6.75B
CHINA RARE EARTH RESOURCES AND TECHNOLOGY CO., LTD.	-1.12%	4.01B
WESTERN SUPERCONDUCTING TECHNOLOGIES CO., LTD.	-19.76%	3.83B
PANGANG GROUP VANADIUM & TITANIUM RESOURCES CO., LTD.	-10.37%	3.77B
YUNNAN COPPER CO.,LTD	+24.98%	3.77B
CHINA NONFERROUS MINING CORPORATION LIMITED	+46.00%	3.74B
ZHE JIANG HAI LIANG CO., LTD	-22.96%	2.37B
SICHUAN HONGDA CO.,LTD	+35.67%	1.95B