HANGZHOU CHANGCHUAN TECHNOLOGY CO.,LTD Financials Hangzhou Changchuan Technology Co.,Ltd
Equities
300604
CNE100002Q09
Semiconductor Equipment & Testing
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 29.29 CNY | +1.70% |
|
+14.06% | -22.90% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 7,486 | 9,455 | 34,749 | 26,871 | 23,614 | 18,358 | - | - |
| Enterprise Value (EV) 1 | 7,486 | 9,455 | 33,990 | 26,500 | 23,842 | 17,845 | 18,001 | 18,358 |
| P/E ratio | 596 x | 112 x | 160 x | 59.4 x | 543 x | 31.4 x | 19.6 x | - |
| Yield | - | 0.33% | 0.17% | 0.22% | 0.26% | 0.51% | 0.71% | - |
| Capitalization / Revenue | 18.8 x | 11.8 x | 23 x | 10.4 x | 13.3 x | 5.83 x | 4.11 x | 3.05 x |
| EV / Revenue | 18.8 x | 11.8 x | 22.5 x | 10.3 x | 13.4 x | 5.67 x | 4.03 x | 3.05 x |
| EV / EBITDA | 390 x | - | 136 x | 48.8 x | 1,386 x | 22 x | 16.1 x | 10.2 x |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 7.51 x | 8.67 x | 19.7 x | 11.8 x | 8.22 x | 5.52 x | 4.42 x | 3.53 x |
| Nbr of stocks (in thousands) | 597,122 | 596,202 | 604,329 | 602,749 | 621,592 | 626,784 | - | - |
| Reference price 2 | 12.54 | 15.86 | 57.50 | 44.58 | 37.99 | 29.29 | 29.29 | 29.29 |
| Announcement Date | 2/28/20 | 4/26/21 | 4/22/22 | 4/20/23 | 4/23/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 398.8 | 803.8 | 1,511 | 2,577 | 1,775 | 3,147 | 4,463 | 6,026 |
| EBITDA 1 | 19.22 | - | 249.5 | 543.4 | 17.2 | 812.8 | 1,118 | 1,807 |
| EBIT 1 | 3.934 | 72.89 | 223.4 | 498.6 | -34.6 | 685.2 | 1,047 | 1,676 |
| Operating Margin | 0.99% | 9.07% | 14.78% | 19.35% | -1.95% | 21.77% | 23.46% | 27.81% |
| Earnings before Tax (EBT) 1 | 3.926 | 72.74 | 223.5 | 498.5 | 46.22 | 682.6 | 1,099 | 1,677 |
| Net income 1 | 11.94 | 84.86 | 218.2 | 461.1 | 45.16 | 472.3 | 901.4 | 1,199 |
| Net margin | 2.99% | 10.56% | 14.44% | 17.9% | 2.54% | 15.01% | 20.2% | 19.9% |
| EPS 2 | 0.0210 | 0.1421 | 0.3600 | 0.7500 | 0.0700 | 0.9333 | 1.497 | - |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | - | 0.0526 | 0.1000 | 0.1000 | 0.1000 | 0.1504 | 0.2065 | - |
| Announcement Date | 2/28/20 | 4/26/21 | 4/22/22 | 4/20/23 | 4/23/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 823 | 320 | 442.3 | 446.7 | 566.1 | 559.4 | 873.8 | 1,049 | 1,049 | 663.8 | 1,106 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | 148 | -54.8 | -4.18 | -7.553 | 31.94 | 7.396 | 173.7 | 208.5 | 208.5 | 134.3 | 223.9 |
| Operating Margin | - | 17.99% | -17.13% | -0.95% | -1.69% | 5.64% | 1.32% | 19.88% | 19.88% | 19.88% | 20.24% | 20.24% |
| Earnings before Tax (EBT) | - | 147.9 | - | 77.19 | -7.848 | 31.73 | 6.384 | - | - | - | - | - |
| Net income 1 | 80.37 | 135.6 | - | 77.71 | -19.15 | 43.83 | 4.075 | 156.4 | 189.5 | 189.5 | 119.7 | 204.9 |
| Net margin | - | 16.48% | - | 17.57% | -4.29% | 7.74% | 0.73% | 17.9% | 18.07% | 18.07% | 18.03% | 18.53% |
| EPS | 0.1300 | 0.2100 | -0.1000 | 0.1300 | -0.0300 | 0.0700 | 0.0100 | - | - | - | - | - |
| Dividend per Share 2 | - | - | - | - | - | 0.1000 | - | - | - | 0.2007 | - | - |
| Announcement Date | 10/27/22 | 4/20/23 | 4/27/23 | 8/28/23 | 10/24/23 | 4/23/24 | 4/23/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | 228 | - | - | - |
| Net Cash position 1 | - | - | 758 | 371 | - | 514 | 357 | - |
| Leverage (Debt/EBITDA) | - | - | - | - | 13.26 x | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 1.71% | 8.11% | 15.9% | 22.8% | 1.79% | 19.8% | 23.7% | 24.2% |
| ROA (Net income/ Total Assets) | 1.19% | 5.32% | 8.42% | 11.5% | - | 7.4% | 9.8% | - |
| Assets 1 | 999.6 | 1,594 | 2,593 | 4,005 | - | 6,382 | 9,198 | - |
| Book Value Per Share 2 | 1.670 | 1.830 | 2.930 | 3.770 | 4.620 | 5.310 | 6.630 | 8.300 |
| Cash Flow per Share 2 | -0.0700 | 0.0700 | -0.0200 | 0.2000 | -1.190 | 0.5000 | 1.220 | - |
| Capex 1 | 23.9 | 19.6 | 164 | 221 | 331 | 131 | 335 | 225 |
| Capex / Sales | 5.99% | 2.44% | 10.82% | 8.59% | 18.66% | 4.17% | 7.5% | 3.73% |
| Announcement Date | 2/28/20 | 4/26/21 | 4/22/22 | 4/20/23 | 4/23/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
D-
Sell
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
29.29
CNY
Average target price
38.98
CNY
Spread / Average Target
+33.07%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -22.90% | 2.53B | |
| +21.50% | 95.51B | |
| +12.34% | 25.27B | |
| -8.31% | 19.53B | |
| -8.65% | 4.41B | |
| +12.49% | 3.58B | |
| -7.63% | 3.48B | |
| -0.12% | 1.19B | |
| +4.73% | 1.13B | |
| +9.66% | 1.01B |
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- Financials Hangzhou Changchuan Technology Co.,Ltd
