HONGHUA GROUP LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 0.089 HKD | 0.00% |
|
-1.11% | -18.35% |
| 06-21 | Honghua Unit Enters Sales Contract with New Energy Company | MT |
| 06-14 | Honghua Group Appoints CFO | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 1,866 | 2,479 | 1,092 | 1,173 | 1,105 | 883.5 |
| Enterprise Value (EV) 1 | 4,207 | 5,589 | 4,597 | 5,628 | 5,396 | 4,585 |
| P/E ratio | 23.2 x | 23.3 x | 22.3 x | -1.65 x | -1.76 x | -1.79 x |
| Yield | - | - | - | - | - | - |
| Capitalization / Revenue | 0.44 x | 0.56 x | 0.28 x | 0.4 x | 0.25 x | 0.16 x |
| EV / Revenue | 1 x | 1.26 x | 1.17 x | 1.92 x | 1.21 x | 0.84 x |
| EV / EBITDA | 8 x | 10.9 x | 10 x | -30.6 x | -54 x | 83.1 x |
| EV / FCF | 2.01 x | -10.4 x | -3.08 x | 28.5 x | 64.5 x | 39.5 x |
| FCF Yield | 49.8% | -9.63% | -32.5% | 3.51% | 1.55% | 2.53% |
| Price to Book | 0.46 x | 0.59 x | 0.26 x | 0.34 x | 0.38 x | 0.26 x |
| Nbr of stocks (in thousands) | 5,183,144 | 5,232,816 | 5,233,816 | 5,233,816 | 5,233,816 | 8,918,311 |
| Reference price 2 | 0.3600 | 0.4736 | 0.2087 | 0.2241 | 0.2111 | 0.0991 |
| Announcement Date | 19-04-26 | 20-04-27 | 21-04-19 | 22-04-27 | 23-04-28 | 24-04-25 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 4,205 | 4,426 | 3,931 | 2,937 | 4,476 | 5,473 |
| EBITDA 1 | 526.2 | 511.3 | 459.1 | -184.1 | -99.86 | 55.18 |
| EBIT 1 | 353 | 347.5 | 287.9 | -332.9 | -393.6 | -227.5 |
| Operating Margin | 8.39% | 7.85% | 7.32% | -11.33% | -8.79% | -4.16% |
| Earnings before Tax (EBT) 1 | 143.6 | 166.3 | 86.09 | -745.3 | -624.8 | -411 |
| Net income 1 | 82.29 | 107.5 | 49.66 | -717.2 | -634.4 | -386.6 |
| Net margin | 1.96% | 2.43% | 1.26% | -24.42% | -14.17% | -7.06% |
| EPS 2 | 0.0155 | 0.0203 | 0.009378 | -0.1354 | -0.1198 | -0.0554 |
| Free Cash Flow 1 | 2,094 | -538.3 | -1,493 | 197.6 | 83.67 | 116.1 |
| FCF margin | 49.79% | -12.16% | -37.97% | 6.73% | 1.87% | 2.12% |
| FCF Conversion (EBITDA) | 397.94% | - | - | - | - | 210.36% |
| FCF Conversion (Net income) | 2,544.69% | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - |
| Announcement Date | 19-04-26 | 20-04-27 | 21-04-19 | 22-04-27 | 23-04-28 | 24-04-25 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 2,341 | 3,110 | 3,505 | 4,455 | 4,291 | 3,702 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.449 x | 6.084 x | 7.635 x | -24.21 x | -42.97 x | 67.09 x |
| Free Cash Flow 1 | 2,094 | -538 | -1,493 | 198 | 83.7 | 116 |
| ROE (net income / shareholders' equity) | 2.58% | 3.01% | 1.34% | -17.8% | -18% | -12.4% |
| ROA (Net income/ Total Assets) | 2.16% | 1.97% | 1.51% | -1.75% | -2.04% | -1.14% |
| Assets 1 | 3,801 | 5,460 | 3,280 | 40,959 | 31,037 | 33,776 |
| Book Value Per Share 2 | 0.7800 | 0.8100 | 0.8100 | 0.6700 | 0.5600 | 0.3800 |
| Cash Flow per Share 2 | 0.1300 | 0.1700 | 0.1800 | 0.1300 | 0.1100 | 0.0900 |
| Capex 1 | 353 | 353 | 200 | 75.7 | 37.2 | 114 |
| Capex / Sales | 8.39% | 7.98% | 5.09% | 2.58% | 0.83% | 2.09% |
| Announcement Date | 19-04-26 | 20-04-27 | 21-04-19 | 22-04-27 | 23-04-28 | 24-04-25 |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -18.35% | 102M | |
| +24.80% | 4.93B | |
| -12.85% | 694M | |
| -20.07% | 640M | |
| -14.48% | 638M | |
| -24.24% | 560M | |
| +23.88% | 320M | |
| -27.55% | 302M | |
| -23.12% | 253M | |
| +25.12% | 250M |
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