Financials Do-Fluoride New Materials Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
13.59 ^CNY	+1.95%		-1.52%	-10.71%

Apr. 25	Do-Fluoride New Materials Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 15	Tranche Update on Do-Fluoride New Materials Co., Ltd.'s Equity Buyback Plan announced on September 27, 2023.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,966	13,699	33,968	25,155	17,929	15,911	-	-
Enterprise Value (EV) ¹	8,966	13,699	33,968	25,155	17,929	15,911	15,911	15,911
P/E ratio	-21.5 x	286 x	26.5 x	13.2 x	33.1 x	23 x	14.6 x	10.6 x
Yield	-	-	1.11%	1.8%	1.97%	2.02%	3.09%	4.42%
Capitalization / Revenue	2.33 x	-	4.36 x	2.04 x	1.5 x	1.15 x	0.91 x	0.68 x
EV / Revenue	2.33 x	-	4.36 x	2.04 x	1.5 x	1.15 x	0.91 x	0.68 x
EV / EBITDA	-60.7 x	-	18.4 x	8.55 x	12.1 x	7.69 x	5.74 x	4.34 x
EV / FCF	-	-	43,779,669 x	-31,635,822 x	-	-	-	-
FCF Yield	-	-	0%	-0%	-	-	-	-
Price to Book	3.08 x	-	6.79 x	3.93 x	1.95 x	1.68 x	1.53 x	1.42 x
Nbr of stocks (in thousands)	957,489	957,489	1,057,011	1,056,921	1,177,977	1,170,822	-	-
Reference price ²	9.364	14.31	32.14	23.80	15.22	13.59	13.59	13.59
Announcement Date	2/27/20	4/6/21	3/9/22	2/28/23	2/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,851	-	7,799	12,358	11,937	13,782	17,475	23,480
EBITDA ¹	-147.6	-	1,847	2,941	1,485	2,069	2,774	3,664
EBIT ¹	-457.1	-	1,409	2,262	632.3	974	1,480	2,038
Operating Margin	-11.87%	-	18.07%	18.31%	5.3%	7.07%	8.47%	8.68%
Earnings before Tax (EBT) ¹	-436.1	-	1,411	-	624.7	968.5	1,559	2,033
Net income ¹	-416.3	48.62	1,260	1,948	509.8	708.4	1,265	1,531
Net margin	-10.81%	-	16.15%	15.76%	4.27%	5.14%	7.24%	6.52%
EPS ²	-0.4357	0.0500	1.214	1.807	0.4600	0.5900	0.9300	1.285
Free Cash Flow	-	-	775.9	-795.1	-	-	-	-
FCF margin	-	-	9.95%	-6.43%	-	-	-	-
FCF Conversion (EBITDA)	-	-	42.01%	-	-	-	-	-
FCF Conversion (Net income)	-	-	61.59%	-	-	-	-	-
Dividend per Share ²	-	-	0.3571	0.4286	0.3000	0.2750	0.4200	0.6000
Announcement Date	2/27/20	4/6/21	3/9/22	2/28/23	2/28/24	-	-	-

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	-	-	776	-795	-	-	-	-
ROE (net income / shareholders' equity)	-12.8%	1.65%	31.4%	34.6%	6.82%	7.36%	10.6%	13.4%
ROA (Net income/ Total Assets)	-	-	11.7%	-	2.23%	3.34%	5.16%	5.48%
Assets ¹	-	-	10,729	-	22,848	21,209	24,522	27,963
Book Value Per Share ²	3.040	-	4.740	6.050	7.800	8.070	8.890	9.580
Cash Flow per Share ²	0.0500	-	1.900	1.630	0.2800	1.470	2.320	2.910
Capex ¹	263	-	1,199	2,548	1,484	2,133	1,512	1,742
Capex / Sales	6.83%	-	15.38%	20.62%	12.43%	15.47%	8.65%	7.42%
Announcement Date	2/27/20	4/6/21	3/9/22	2/28/23	2/28/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.59 CNY

Average target price

19 CNY

Spread / Average Target

+39.81%

	1st Jan change	Capi.
DO-FLUORIDE NEW MATERIALS CO., LTD.	-10.71%	2.2B
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RONGSHENG PETROCHEMICAL CO., LTD.	+7.73%	15.03B
HENGLI PETROCHEMICAL CO.,LTD.	+16.93%	14.96B