Financials Jiangsu Eastern Shenghong Co.,Ltd.

Equities

000301

CNE0000012K6

Commodity 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
9.89 ^CNY	-2.08%		-4.72%	+3.02%

Apr. 26	Jiangsu Eastern Shenghong Co.,Ltd. Proposes Final Cash Dividend for the Year 2023	CI
Apr. 25	Jiangsu Eastern Shenghong Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	20,870	45,835	93,507	86,210	63,468	65,385	-
Enterprise Value (EV) ¹	25,773	57,167	148,894	173,281	63,468	180,658	183,333
P/E ratio	13 x	135 x	26.5 x	163 x	87.3 x	10.8 x	7.69 x
Yield	1.93%	1.05%	0.78%	0.77%	-	2.26%	4.03%
Capitalization / Revenue	0.84 x	2.01 x	1.81 x	1.35 x	0.45 x	0.42 x	0.39 x
EV / Revenue	1.04 x	2.51 x	2.88 x	2.72 x	0.45 x	1.16 x	1.09 x
EV / EBITDA	8.44 x	34.8 x	18.3 x	33.5 x	6.24 x	9.47 x	7.74 x
EV / FCF	-31,806,484 x	-	-4,092,323 x	-5,780,880 x	-	-	-
FCF Yield	-0%	-	-0%	-0%	-	-	-
Price to Book	1.49 x	2.61 x	7.55 x	2.41 x	-	1.45 x	1.25 x
Nbr of stocks (in thousands)	4,029,053	4,834,864	4,834,903	6,611,188	6,611,213	6,611,214	-
Reference price ²	5.180	9.480	19.34	13.04	9.600	9.890	9.890
Announcement Date	4/8/20	4/14/21	4/18/22	4/17/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	24,888	22,777	51,722	63,822	140,440	156,124	168,375
EBITDA ¹	3,055	1,641	8,126	5,176	10,170	19,084	23,697
EBIT ¹	1,898	424.3	6,017	415.6	243.9	9,480	13,371
Operating Margin	7.62%	1.86%	11.63%	0.65%	0.17%	6.07%	7.94%
Earnings before Tax (EBT) ¹	1,906	444.2	6,059	446.5	311	8,155	11,647
Net income ¹	1,614	316.3	4,544	548.2	717	6,079	8,508
Net margin	6.48%	1.39%	8.78%	0.86%	0.51%	3.89%	5.05%
EPS ²	0.4000	0.0700	0.7300	0.0800	0.1100	0.9180	1.286
Free Cash Flow	-810.3	-	-36,384	-29,975	-	-	-
FCF margin	-3.26%	-	-70.34%	-46.97%	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	0.1000	0.1000	0.1500	0.1000	-	0.2237	0.3983
Announcement Date	4/8/20	4/14/21	4/18/22	4/17/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales	9,386	26,645	13,773	16,469	-	36,365	37,743	36,763	-	-	-	-
EBITDA	758.4	-	1,781	2,027	-	-	-	-	-	-	-	-
EBIT	302.7	4,363	818.7	1,538	-	1,048	881.5	-2,581	-	-	-	-
Operating Margin	3.22%	16.38%	5.94%	9.34%	-	2.88%	2.34%	-7.02%	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	1,083	892.1	-2,577	-	-	-	-
Net income	-	-	-	-	717.2	963.3	798.2	-1,819	-	-	-	-
Net margin	-	-	-	-	-	2.65%	2.11%	-4.95%	-	-	-	-
EPS	0.0400	0.4500	0.1100	0.1500	0.1000	0.1400	0.1100	-0.2500	-	-	-	-
Dividend per Share ¹	-	0.1500	-	-	-	-	-	-	0.0558	0.0558	0.0558	0.0558
Announcement Date	10/28/21	4/18/22	4/29/22	8/19/22	4/20/23	8/10/23	10/27/23	4/26/24	-	-	-	-

¹CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	4,902	11,333	55,387	87,072	-	115,273	117,948
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.605 x	6.904 x	6.816 x	16.82 x	-	6.04 x	4.977 x
Free Cash Flow	-810	-	-36,384	-29,975	-	-	-
ROE (net income / shareholders' equity)	10.9%	2.26%	17.6%	1.73%	-	13.9%	16.7%
ROA (Net income/ Total Assets)	4.99%	0.9%	4.22%	0.37%	-	2.9%	4.1%
Assets ¹	32,337	35,044	107,668	149,282	-	209,626	207,506
Book Value Per Share ²	3.480	3.630	2.560	5.400	-	6.820	7.930
Cash Flow per Share ²	1.290	0.4600	0.8600	0.2000	-	2.610	3.320
Capex ¹	5,907	16,784	41,717	31,366	-	21,916	13,394
Capex / Sales	23.74%	73.69%	80.66%	49.15%	-	14.04%	7.95%
Announcement Date	4/8/20	4/14/21	4/18/22	4/17/23	4/26/24	-	-

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 Jiangsu Eastern Shenghong Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.89 CNY

Average target price

14.28 CNY

Spread / Average Target

+44.35%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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