Financials China Sunshine Paper Holdings Company Limited

Equities

2002

KYG215A01058

Paper Packaging

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
1.96 HKD -1.51% Intraday chart for China Sunshine Paper Holdings Company Limited +15.29% -27.94%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 1,372 899.3 951.9 1,069 1,711 1,935
Enterprise Value (EV) 1 5,885 5,202 4,758 4,605 5,577 6,656
P/E ratio 3.42 x 2.7 x 2.72 x 2.15 x 2.98 x 9.36 x
Yield 3.48% 3.2% - - 2.8% -
Capitalization / Revenue 0.24 x 0.14 x 0.15 x 0.16 x 0.21 x 0.2 x
EV / Revenue 1.02 x 0.79 x 0.75 x 0.69 x 0.7 x 0.7 x
EV / EBITDA 6.3 x 6.63 x 6.27 x 4.93 x 5.79 x 10.9 x
EV / FCF -8.72 x 130 x 9.02 x 39.6 x -11.7 x -7 x
FCF Yield -11.5% 0.77% 11.1% 2.53% -8.52% -14.3%
Price to Book 0.68 x 0.39 x 0.36 x 0.34 x 0.45 x 0.47 x
Nbr of stocks (in thousands) 819,362 819,362 819,362 819,362 905,164 1,019,130
Reference price 2 1.674 1.098 1.162 1.305 1.890 1.899
Announcement Date 4/26/18 4/29/19 4/28/20 4/29/21 4/28/22 4/27/23
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 5,782 6,586 6,311 6,673 7,982 9,538
EBITDA 1 934.5 784.3 759.4 934.6 962.9 613.1
EBIT 1 681.1 530.9 578.9 705.3 694.6 305.4
Operating Margin 11.78% 8.06% 9.17% 10.57% 8.7% 3.2%
Earnings before Tax (EBT) 1 564.5 477.9 487.7 733.7 747.1 358.9
Net income 1 396 333 350 497.7 556.5 205.7
Net margin 6.85% 5.06% 5.55% 7.46% 6.97% 2.16%
EPS 2 0.4889 0.4064 0.4272 0.6074 0.6341 0.2028
Free Cash Flow 1 -675.2 39.96 527.8 116.4 -475.1 -950.6
FCF margin -11.68% 0.61% 8.36% 1.74% -5.95% -9.97%
FCF Conversion (EBITDA) - 5.09% 69.5% 12.45% - -
FCF Conversion (Net income) - 12% 150.79% 23.38% - -
Dividend per Share 2 0.0583 0.0351 - - 0.0530 -
Announcement Date 4/26/18 4/29/19 4/28/20 4/29/21 4/28/22 4/27/23
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 4,513 4,303 3,807 3,536 3,866 4,721
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.829 x 5.486 x 5.013 x 3.783 x 4.015 x 7.7 x
Free Cash Flow 1 -675 40 528 116 -475 -951
ROE (net income / shareholders' equity) 20.2% 14.5% 13.1% 16.2% 14.6% 5.51%
ROA (Net income/ Total Assets) 5.23% 3.75% 3.89% 4.69% 4.25% 1.65%
Assets 1 7,574 8,890 8,991 10,614 13,081 12,465
Book Value Per Share 2 2.460 2.810 3.200 3.810 4.180 4.020
Cash Flow per Share 2 0.5800 0.6400 0.8800 0.7500 0.9200 0.8400
Capex 1 337 786 700 650 955 658
Capex / Sales 5.83% 11.94% 11.09% 9.74% 11.96% 6.9%
Announcement Date 4/26/18 4/29/19 4/28/20 4/29/21 4/28/22 4/27/23
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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