Financials Huafon Chemical Co.,Ltd

Equities

002064

CNE000001NK6

Specialty Chemicals

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
8.21 ^CNY	+3.14%		+6.90%	+22.35%

Apr. 19	Huafon Chemical Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
2023	Huafon Chemical Co.,Ltd Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	26,863	46,752	48,374	33,745	33,299	40,742	-	-
Enterprise Value (EV) ¹	26,863	46,752	48,374	33,745	33,299	40,742	40,742	40,742
P/E ratio	14.5 x	20.6 x	6.11 x	11.7 x	13.4 x	13 x	10.7 x	10.1 x
Yield	0.8%	0.99%	2.87%	2.21%	2.24%	2.8%	3.65%	2.38%
Capitalization / Revenue	1.95 x	3.18 x	1.71 x	1.3 x	1.27 x	1.42 x	1.27 x	1.16 x
EV / Revenue	1.95 x	3.18 x	1.71 x	1.3 x	1.27 x	1.42 x	1.27 x	1.16 x
EV / EBITDA	9.78 x	13.4 x	4.73 x	7.92 x	8.22 x	8.19 x	6.93 x	6.23 x
EV / FCF	-	17,722,092 x	11,976,446 x	-	-	-	-	-
FCF Yield	-	0%	0%	-	-	-	-	-
Price to Book	3.46 x	4.04 x	2.54 x	1.46 x	1.34 x	1.49 x	1.36 x	1.22 x
Nbr of stocks (in thousands)	4,298,159	4,633,519	4,633,519	4,962,544	4,962,544	4,962,544	-	-
Reference price ²	6.250	10.09	10.44	6.800	6.710	8.210	8.210	8.210
Announcement Date	2/28/20	4/12/21	3/21/22	4/27/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	13,785	14,724	28,367	25,884	26,298	28,703	32,207	35,269
EBITDA ¹	2,746	3,484	10,219	4,261	4,051	4,972	5,880	6,544
EBIT ¹	2,132	2,642	9,247	3,203	2,768	3,439	4,145	4,390
Operating Margin	15.47%	17.94%	32.6%	12.38%	10.53%	11.98%	12.87%	12.45%
Earnings before Tax (EBT) ¹	2,079	2,614	9,156	3,181	2,619	3,310	4,015	4,270
Net income ¹	1,841	2,279	7,937	2,844	2,478	3,132	3,801	4,042
Net margin	13.36%	15.48%	27.98%	10.99%	9.42%	10.91%	11.8%	11.46%
EPS ²	0.4300	0.4900	1.710	0.5800	0.5000	0.6300	0.7667	0.8150
Free Cash Flow	-	2,638	4,039	-	-	-	-	-
FCF margin	-	17.92%	14.24%	-	-	-	-	-
FCF Conversion (EBITDA)	-	75.71%	39.52%	-	-	-	-	-
FCF Conversion (Net income)	-	115.75%	50.89%	-	-	-	-	-
Dividend per Share ²	0.0500	0.1000	0.3000	0.1500	0.1500	0.2300	0.3000	0.1950
Announcement Date	2/28/20	4/12/21	3/21/22	4/27/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2023 Q2
Net sales ¹	-	6,431
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income	665	-
Net margin	-	-
EPS	0.1500	-
Dividend per Share	-	-
Announcement Date	7/28/20	8/10/23

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	2,638	4,039	-	-	-	-	-
ROE (net income / shareholders' equity)	26.8%	21.9%	51.9%	13.1%	10.3%	11.6%	12.8%	12.1%
ROA (Net income/ Total Assets)	11.7%	12.4%	32.5%	-	-	7.97%	8.93%	8.4%
Assets ¹	15,781	18,322	24,423	-	-	39,314	42,545	48,113
Book Value Per Share ²	1.810	2.500	4.100	4.660	5.020	5.500	6.040	6.760
Cash Flow per Share ²	0.6600	0.9100	1.320	0.5200	0.5000	0.9100	1.000	1.160
Capex ¹	2,002	1,571	2,096	2,593	1,701	3,181	4,056	3,468
Capex / Sales	14.52%	10.67%	7.39%	10.02%	6.47%	11.08%	12.59%	9.83%
Announcement Date	2/28/20	4/12/21	3/21/22	4/27/23	4/19/24	-	-	-

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

Ratings for Huafon Chemical Co.,Ltd

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

8.21 CNY

Average target price

9.1 CNY

Spread / Average Target

+10.84%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Cellular Fiber

	1st Jan change	Capi.
HUAFON CHEMICAL CO.,LTD	+22.35%	5.62B
TONGKUN GROUP CO., LTD.	-11.57%	4.38B
SINOMA SCIENCE & TECHNOLOGY CO.,LTD.	-1.44%	3.63B
JINAN ACETATE CHEMICAL CO., LTD.	-2.38%	2.05B
ALPEK, S.A.B. DE C.V.	-1.82%	1.52B
LUYANG ENERGY-SAVING MATERIALS CO., LTD.	-6.46%	931M
HUAFON MICROFIBRE (SHANGHAI) CO., LTD.	-18.10%	880M
NORTH CHEMICAL INDUSTRIES CO., LTD.	-3.17%	601M
CHONGQING ZAISHENG TECHNOLOGY CO., LTD.	-27.91%	437M
JIANGSU JIANGNAN HIGH POLYMER FIBER CO.,LTD	-17.44%	385M

Cellular Fiber