Financials Hunan Sokan New Materials Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
32.87 ^CNY	-3.15%		+7.88%	-39.06%

Apr. 02	Tranche Update on Hunan Sokan New Materials Co., Ltd.'s Equity Buyback Plan announced on February 21, 2024.	CI
Mar. 27	Hunan Sokan New Materials Co., Ltd. agreed to acquire 20% stake in Changsha Songrun New Material Co., Ltd from Li Yunkai, Lai Anping, Yang Yifeng and Liu Haijun for CNY 19.6 million.	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Capitalization ¹	6,607	9,687	6,984	6,027	3,673	-
Enterprise Value (EV) ¹	6,607	9,687	6,984	6,027	3,673	3,673
P/E ratio	69.2 x	98.9 x	84.1 x	73.9 x	27.1 x	18.6 x
Yield	-	0.3%	0.35%	0.41%	0.46%	0.56%
Capitalization / Revenue	15.2 x	19.1 x	14 x	10.2 x	4.29 x	3.13 x
EV / Revenue	15.2 x	19.1 x	14 x	10.2 x	4.29 x	3.13 x
EV / EBITDA	62.9 x	-	68.5 x	55.7 x	20 x	12.9 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	6.03 x	8.18 x	5.59 x	4.65 x	2.56 x	2.29 x
Nbr of stocks (in thousands)	111,440	111,440	111,736	111,736	111,736	-
Reference price ²	59.29	86.93	62.50	53.94	32.87	32.87
Announcement Date	1/14/21	2/27/22	2/10/23	2/6/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net sales ¹	434.9	508.2	499.1	588.2	856	1,174
EBITDA ¹	105.1	-	102	108.2	184	284
EBIT ¹	92.96	104.1	86.03	88.18	144	214
Operating Margin	21.37%	20.47%	17.24%	14.99%	16.82%	18.22%
Earnings before Tax (EBT) ¹	96.83	108.6	86.23	87.85	146.5	216
Net income ¹	87.18	97.39	82.25	83.3	135.4	197.4
Net margin	20.04%	19.16%	16.48%	14.16%	15.82%	16.8%
EPS ²	0.8571	0.8786	0.7429	0.7300	1.212	1.768
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	0.2643	0.2214	0.2200	0.1500	0.1850
Announcement Date	1/14/21	2/27/22	2/10/23	2/6/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	19.5%	8.55%	6.82%	6.45%	9.42%	12.2%
ROA (Net income/ Total Assets)	9.68%	-	5.09%	-	7.33%	8.9%
Assets ¹	900.3	-	1,616	-	1,847	2,218
Book Value Per Share ²	9.830	10.60	11.20	11.60	12.80	14.30
Cash Flow per Share ²	0.6400	0.5100	1.260	0.2400	1.120	0.8500
Capex ¹	56.5	108	240	211	195	119
Capex / Sales	13%	21.18%	48.04%	35.9%	22.82%	10.1%
Announcement Date	1/14/21	2/27/22	2/10/23	2/6/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

32.87 CNY

Average target price

80.32 CNY

Spread / Average Target

+144.37%

	1st Jan change	Capi.
HUNAN SOKAN NEW MATERIALS CO., LTD.	-39.06%	507M
THE SHERWIN-WILLIAMS COMPANY	-3.94%	76.13B
ASIAN PAINTS LIMITED	-15.47%	33.05B
PPG INDUSTRIES, INC.	-13.74%	30.36B
NIPPON PAINT HOLDINGS CO., LTD.	-8.25%	15.15B
RPM INTERNATIONAL INC.	-4.23%	13.77B
BERGER PAINTS INDIA LIMITED	-15.81%	7.11B
AXALTA COATING SYSTEMS LTD.	-7.45%	6.94B
KANSAI PAINT CO., LTD.	-14.45%	2.76B
KANSAI NEROLAC PAINTS LIMITED	-15.93%	2.71B