Stock 603811 ZHEJIANG CHENG YI PHARMACEUTICAL CO., LTD.
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Financials Zhejiang Cheng Yi Pharmaceutical Co., Ltd.

Equities

603811

CNE100002YC7

Pharmaceuticals

End-of-day quote Shanghai S.E.
Other stock markets
 18:00:00 2024-07-01 EDT 		5-day change 1st Jan Change
6.4 CNY +1.27% Intraday chart for Zhejiang Cheng Yi Pharmaceutical Co., Ltd. +3.39% -38.28%
04-25 Zhejiang Cheng Yi Pharmaceutical Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
04-25 Zhejiang Cheng Yi Pharmaceutical Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,936 3,069 3,857 3,794 3,271 3,394
Enterprise Value (EV) 1 1,758 2,939 3,906 3,860 3,484 3,544
P/E ratio 20 x 23.4 x 23.3 x 22.2 x 20.3 x 20.7 x
Yield 1.85% 1.55% 1.52% 1.54% 1.79% 1.93%
Capitalization / Revenue 3.55 x 4.51 x 5.09 x 5.47 x 4.99 x 5.05 x
EV / Revenue 3.22 x 4.31 x 5.15 x 5.56 x 5.32 x 5.28 x
EV / EBITDA 14.2 x 18.2 x 18.4 x 18.6 x 19.7 x 18 x
EV / FCF -10.8 x -117 x -118 x -631 x -25.8 x 28.9 x
FCF Yield -9.29% -0.86% -0.85% -0.16% -3.87% 3.46%
Price to Book 2.93 x 4.06 x 4.41 x 3.85 x 3.01 x 2.85 x
Nbr of stocks (in thousands) 327,304 327,304 327,304 327,304 327,304 327,304
Reference price 2 5.915 9.377 11.79 11.59 9.993 10.37
Announcement Date 4/9/19 4/27/20 4/22/21 4/25/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 545.8 681.2 758.1 694 655 671.6
EBITDA 1 123.9 161.1 212 208.1 176.5 197.3
EBIT 1 104.9 139.4 164.6 153.8 115.4 120.5
Operating Margin 19.21% 20.46% 21.71% 22.16% 17.62% 17.94%
Earnings before Tax (EBT) 1 112.9 152.9 188.9 197.5 163.8 174.1
Net income 1 96.91 131.4 165.1 170.8 161.6 162.9
Net margin 17.76% 19.29% 21.78% 24.61% 24.67% 24.25%
EPS 2 0.2952 0.4009 0.5051 0.5214 0.4929 0.5000
Free Cash Flow 1 -163.3 -25.17 -33.13 -6.117 -134.9 122.5
FCF margin -29.93% -3.7% -4.37% -0.88% -20.6% 18.25%
FCF Conversion (EBITDA) - - - - - 62.11%
FCF Conversion (Net income) - - - - - 75.23%
Dividend per Share 2 0.1093 0.1458 0.1786 0.1786 0.1786 0.2000
Announcement Date 4/9/19 4/27/20 4/22/21 4/25/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - 48.7 65.2 213 150
Net Cash position 1 178 130 - - - -
Leverage (Debt/EBITDA) - - 0.2295 x 0.3135 x 1.209 x 0.7588 x
Free Cash Flow 1 -163 -25.2 -33.1 -6.12 -135 123
ROE (net income / shareholders' equity) 15.3% 18.2% 19.9% 18.2% 15.4% 14.2%
ROA (Net income/ Total Assets) 8.8% 9.7% 9.41% 7.6% 4.74% 4.17%
Assets 1 1,101 1,355 1,756 2,247 3,406 3,907
Book Value Per Share 2 2.020 2.310 2.670 3.010 3.320 3.640
Cash Flow per Share 2 0.5400 0.4300 0.2200 0.2500 0.6500 0.9000
Capex 1 272 184 144 134 253 70.9
Capex / Sales 49.75% 26.98% 18.95% 19.33% 38.61% 10.55%
Announcement Date 4/9/19 4/27/20 4/22/21 4/25/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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