Financials Yangzhou Chenhua New Material Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 18:00:00 2024-05-16 EDT			5-day change	1st Jan Change
9.97 ^CNY	-3.02%		-2.64%	-11.54%

04-17	Yangzhou Chenhua New Material Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
02-22	Yangzhou Chenhua New Material Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,802	2,367	4,141	2,580	2,318	2,051	-	-
Enterprise Value (EV) ¹	1,802	2,367	4,141	2,580	2,318	2,051	2,051	2,051
P/E ratio	-	17.9 x	27.6 x	22.4 x	38.9 x	30.2 x	15.5 x	23.2 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	2.24 x	2.63 x	3.47 x	2.39 x	2.49 x	2.18 x	1.44 x	1.87 x
EV / Revenue	2.24 x	2.63 x	3.47 x	2.39 x	2.49 x	2.18 x	1.44 x	1.87 x
EV / EBITDA	-	12.7 x	19.4 x	15.3 x	22.4 x	17.7 x	9.91 x	12.8 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	2.57 x	4.09 x	2.41 x	2.18 x	1.87 x	1.69 x	1.76 x
Nbr of stocks (in thousands)	203,813	203,800	205,735	205,735	205,716	205,716	-	-
Reference price ²	8.843	11.61	20.13	12.54	11.27	9.970	9.970	9.970
Announcement Date	20-02-27	21-02-25	22-02-24	23-02-20	24-02-23	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	804.9	900.3	1,193	1,078	929.8	939.1	1,426	1,094
EBITDA ¹	-	186.9	213.1	168.3	103.5	116	206.9	160.7
EBIT ¹	-	155.1	175.3	134.8	62.01	83.05	155.4	107.8
Operating Margin	-	17.23%	14.7%	12.5%	6.67%	8.84%	10.89%	9.85%
Earnings before Tax (EBT) ¹	-	149.6	167.8	128	61.63	77.72	149.2	102.4
Net income ¹	96.85	137.3	154.8	119.3	60.51	70.34	137.2	92.08
Net margin	12.03%	15.25%	12.98%	11.06%	6.51%	7.49%	9.62%	8.42%
EPS ²	-	0.6500	0.7300	0.5600	0.2900	0.3300	0.6450	0.4300
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	20-02-27	21-02-25	22-02-24	23-02-20	24-02-23	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	15.2%	15.5%	11.1%	5.51%	6.09%	10.5%	7.52%
ROA (Net income/ Total Assets)	-	-	-	-	-	10.5%	11.9%	-
Assets ¹	-	-	-	-	-	669.9	1,153	-
Book Value Per Share ²	-	4.520	4.920	5.190	5.180	5.330	5.920	5.660
Cash Flow per Share ²	-	0.5300	0.8000	0.6000	0.3800	1.340	-0.2300	1.480
Capex ¹	-	49.7	62	18.4	61.9	96.5	92.8	91.5
Capex / Sales	-	5.52%	5.2%	1.71%	6.65%	10.28%	6.5%	8.36%
Announcement Date	20-02-27	21-02-25	22-02-24	23-02-20	24-02-23	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.97 CNY

Average target price

11.78 CNY

Spread / Average Target

+18.20%

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