Stock 002108 CANGZHOU MINGZHU PLASTIC CO.,LTD.
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Financials Cangzhou Mingzhu Plastic Co.,Ltd.

Equities

002108

CNE000001QC6

Construction Supplies & Fixtures

End-of-day quote Shenzhen S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
3.63 CNY +1.40% Intraday chart for Cangzhou Mingzhu Plastic Co.,Ltd. +1.97% -11.68%
Apr. 26 Cangzhou Mingzhu Plastic Co.,Ltd. Proposes Final Dividend for the Year 2023 CI
Apr. 25 Cangzhou Mingzhu Plastic Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 5,969 5,544 7,628 11,088 7,711 6,776
Enterprise Value (EV) 1 6,766 6,170 8,084 11,490 7,305 7,050
P/E ratio 20 x 33.4 x 25.4 x 30.3 x 25.6 x 25.2 x
Yield 2.38% 1.28% 1.86% 0.64% 2.17% -
Capitalization / Revenue 1.8 x 1.85 x 2.76 x 3.84 x 2.72 x 2.59 x
EV / Revenue 2.03 x 2.06 x 2.93 x 3.98 x 2.58 x 2.69 x
EV / EBITDA 17.6 x 18.4 x 16.5 x 21.4 x 17.3 x 18.5 x
EV / FCF -188 x 15.5 x 30.4 x 44.6 x -15.4 x -19.8 x
FCF Yield -0.53% 6.45% 3.29% 2.24% -6.47% -5.05%
Price to Book 1.84 x 1.7 x 2.19 x 3 x 1.51 x 1.32 x
Nbr of stocks (in thousands) 1,417,924 1,417,924 1,417,924 1,417,924 1,672,698 1,648,598
Reference price 2 4.210 3.910 5.380 7.820 4.610 4.110
Announcement Date 3/22/19 4/29/20 4/8/21 4/28/22 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 3,325 2,996 2,762 2,889 2,835 2,619
EBITDA 1 384.4 336 488.8 535.9 422.5 381.1
EBIT 1 213.8 164 311 355.6 235.2 195.5
Operating Margin 6.43% 5.47% 11.26% 12.31% 8.3% 7.46%
Earnings before Tax (EBT) 1 352.6 227.3 394.1 430.2 344.1 318.5
Net income 1 297.9 166.1 300.9 366 281 272.6
Net margin 8.96% 5.54% 10.89% 12.67% 9.91% 10.41%
EPS 2 0.2100 0.1171 0.2122 0.2581 0.1800 0.1630
Free Cash Flow 1 -35.95 397.8 266.2 257.7 -472.8 -355.9
FCF margin -1.08% 13.28% 9.64% 8.92% -16.68% -13.59%
FCF Conversion (EBITDA) - 118.39% 54.47% 48.08% - -
FCF Conversion (Net income) - 239.5% 88.46% 70.41% - -
Dividend per Share 2 0.1000 0.0500 0.1000 0.0500 0.1000 -
Announcement Date 3/22/19 4/29/20 4/8/21 4/28/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 796 626 455 402 - 275
Net Cash position 1 - - - - 406 -
Leverage (Debt/EBITDA) 2.071 x 1.862 x 0.9316 x 0.7506 x - 0.7204 x
Free Cash Flow 1 -36 398 266 258 -473 -356
ROE (net income / shareholders' equity) 8.99% 4.76% 8.53% 9.75% 6.52% 5.36%
ROA (Net income/ Total Assets) 3.08% 2.13% 4.01% 4.25% 2.35% 1.73%
Assets 1 9,669 7,780 7,510 8,612 11,970 15,752
Book Value Per Share 2 2.290 2.300 2.460 2.610 3.060 3.110
Cash Flow per Share 2 0.1500 0.1400 0.1600 0.3600 0.8400 0.4900
Capex 1 155 34.1 54.5 352 772 909
Capex / Sales 4.66% 1.14% 1.97% 12.18% 27.24% 34.72%
Announcement Date 3/22/19 4/29/20 4/8/21 4/28/22 4/25/23 4/25/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Plumbing Fixtures & Fittings

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Plumbing Fixtures & Fittings
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