JIANGSU BAICHUAN HIGH-TECH NEW MATERIALS CO., LTD Financials Jiangsu Baichuan High-Tech New Materials Co., Ltd
Equities
002455
CNE100000S25
Specialty Chemicals
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 10.95 CNY | -7.05% |
|
-8.29% | +47.57% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 2,600 | 3,191 | 2,980 | 7,498 | 5,511 | 4,401 |
| Enterprise Value (EV) 1 | 2,684 | 3,653 | 4,304 | 9,427 | 9,204 | 9,750 |
| P/E ratio | 25.2 x | 50.6 x | 45.5 x | 32.3 x | 42.2 x | -9.39 x |
| Yield | 1.99% | 2.13% | 1.69% | 0.38% | 0.54% | - |
| Capitalization / Revenue | 0.86 x | 1.24 x | 1.36 x | 1.86 x | 1.33 x | 1.07 x |
| EV / Revenue | 0.89 x | 1.42 x | 1.97 x | 2.34 x | 2.23 x | 2.37 x |
| EV / EBITDA | 10.3 x | 16.8 x | 24.5 x | 19.3 x | 18.5 x | -49.7 x |
| EV / FCF | -199 x | -10.1 x | -5.53 x | -8.94 x | -4.27 x | -18.6 x |
| FCF Yield | -0.5% | -9.87% | -18.1% | -11.2% | -23.4% | -5.37% |
| Price to Book | 1.94 x | 2.4 x | 2.08 x | 3.93 x | 2.32 x | 2.36 x |
| Nbr of stocks (in thousands) | 516,977 | 504,166 | 504,202 | 565,866 | 593,165 | 593,171 |
| Reference price 2 | 5.030 | 6.330 | 5.910 | 13.25 | 9.290 | 7.420 |
| Announcement Date | 4/24/19 | 4/27/20 | 4/26/21 | 2/28/22 | 4/7/23 | 4/29/24 |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 3,027 | 2,575 | 2,187 | 4,021 | 4,131 | 4,112 |
| EBITDA 1 | 260.2 | 218.1 | 175.6 | 487.5 | 498.3 | -196 |
| EBIT 1 | 149.3 | 104.5 | 57.92 | 303.9 | 202.7 | -556.8 |
| Operating Margin | 4.93% | 4.06% | 2.65% | 7.56% | 4.91% | -13.54% |
| Earnings before Tax (EBT) 1 | 121.9 | 73.02 | 74.38 | 253.3 | 127.9 | -653.2 |
| Net income 1 | 105.8 | 64.72 | 66.46 | 228.3 | 135.8 | -466.1 |
| Net margin | 3.5% | 2.51% | 3.04% | 5.68% | 3.29% | -11.33% |
| EPS 2 | 0.2000 | 0.1252 | 0.1300 | 0.4100 | 0.2200 | -0.7900 |
| Free Cash Flow 1 | -13.46 | -360.8 | -778.5 | -1,055 | -2,155 | -524 |
| FCF margin | -0.44% | -14.01% | -35.6% | -26.23% | -52.17% | -12.74% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - |
| Dividend per Share 2 | 0.1000 | 0.1350 | 0.1000 | 0.0500 | 0.0500 | - |
| Announcement Date | 4/24/19 | 4/27/20 | 4/26/21 | 2/28/22 | 4/7/23 | 4/29/24 |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 83.3 | 462 | 1,325 | 1,929 | 3,693 | 5,348 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.32 x | 2.119 x | 7.543 x | 3.957 x | 7.412 x | -27.28 x |
| Free Cash Flow 1 | -13.5 | -361 | -778 | -1,055 | -2,155 | -524 |
| ROE (net income / shareholders' equity) | 7.94% | 4.85% | 4.13% | 10.7% | 4.77% | -21.2% |
| ROA (Net income/ Total Assets) | 3.43% | 2.29% | 0.92% | 3.11% | 1.47% | -3.24% |
| Assets 1 | 3,087 | 2,821 | 7,221 | 7,337 | 9,255 | 14,407 |
| Book Value Per Share 2 | 2.590 | 2.640 | 2.850 | 3.370 | 4.000 | 3.140 |
| Cash Flow per Share 2 | 1.450 | 1.040 | 1.150 | 1.530 | 1.720 | 1.280 |
| Capex 1 | 235 | 456 | 936 | 1,561 | 2,343 | 1,555 |
| Capex / Sales | 7.75% | 17.7% | 42.79% | 38.81% | 56.72% | 37.82% |
| Announcement Date | 4/24/19 | 4/27/20 | 4/26/21 | 2/28/22 | 4/7/23 | 4/29/24 |
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. | |
|---|---|---|
| +47.57% | 897M | |
| +17.07% | 66.31B | |
| -0.29% | 48.46B | |
| +21.61% | 43.27B | |
| +26.72% | 27.41B | |
| +9.25% | 19.26B | |
| +9.75% | 16.58B | |
| -2.14% | 16.61B | |
| -15.01% | 14.41B | |
| -30.22% | 14.02B |
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