Financials Keshun Waterproof Technolgies Co.,Ltd.

Equities

300737

CNE1000035W0

Construction Materials

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
4.17 ^CNY	+1.46%		+4.25%	-32.08%

Apr. 02	Tranche Update on Keshun Waterproof Technolgies Co.,Ltd.'s Equity Buyback Plan announced on October 27, 2023.	CI
Mar. 26	Foshan Shunde District Shunkong Xingcheng Investment Partnership Enterprise (Limited Partnership) signed Share Transfer Agreement to acquire 6.7% stake in Keshun Waterproof Technolgies Co.,Ltd. from Chen Weizhong, Chen Zhizhong, and Chen Zuoliu for CNY 360 million.	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	5,362	6,822	12,954	18,601	14,774	4,855	4,855	-
Enterprise Value (EV) ¹	5,362	6,822	12,954	17,955	14,852	3,877	4,026	4,013
P/E ratio	28.3 x	18.9 x	14.5 x	27.5 x	83.9 x	16.7 x	10.5 x	7.64 x
Yield	-	-	0.7%	-	0.4%	0.48%	1.8%	4.08%
Capitalization / Revenue	1.73 x	1.47 x	2.08 x	2.39 x	1.93 x	0.58 x	0.49 x	0.42 x
EV / Revenue	1.73 x	1.47 x	2.08 x	2.31 x	1.94 x	0.46 x	0.41 x	0.35 x
EV / EBITDA	20.4 x	13.8 x	11.4 x	18.4 x	37.6 x	4.44 x	3.99 x	3.17 x
EV / FCF	-	-	-	92.2 x	-178 x	3.48 x	-36.9 x	26.1 x
FCF Yield	-	-	-	1.08%	-0.56%	28.7%	-2.71%	3.84%
Price to Book	1.84 x	2.18 x	3.16 x	3.77 x	2.64 x	0.85 x	0.78 x	0.72 x
Nbr of stocks (in thousands)	1,099,200	1,084,800	1,086,551	1,144,694	1,174,434	1,164,353	1,164,353	-
Reference price ²	4.878	6.289	11.92	16.25	12.58	4.170	4.170	4.170
Announcement Date	2/27/19	2/27/20	4/21/21	4/27/22	2/20/23	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	3,097	4,652	6,238	7,771	7,661	8,361	9,832	11,564
EBITDA ¹	263.2	493	1,134	974.1	395	873.8	1,008	1,265
EBIT ¹	221.5	427.3	1,033	810.7	191.5	303.7	530.9	729.1
Operating Margin	7.15%	9.18%	16.56%	10.43%	2.5%	3.63%	5.4%	6.3%
Earnings before Tax (EBT) ¹	223.2	431.6	1,039	820.5	200.6	334.2	609.3	836.3
Net income ¹	185.3	363.4	890.3	672.6	178.2	295.7	466.4	642.9
Net margin	5.98%	7.81%	14.27%	8.66%	2.33%	3.54%	4.74%	5.56%
EPS ²	0.1722	0.3333	0.8222	0.5900	0.1500	0.2500	0.3986	0.5457
Free Cash Flow ¹	-	-	-	194.8	-83.48	1,114	-109	154
FCF margin	-	-	-	2.51%	-1.09%	13.32%	-1.11%	1.33%
FCF Conversion (EBITDA)	-	-	-	20%	-	127.49%	-	12.18%
FCF Conversion (Net income)	-	-	-	28.96%	-	376.68%	-	23.96%
Dividend per Share ²	-	-	0.0833	-	0.0500	0.0200	0.0750	0.1700
Announcement Date	2/27/19	2/27/20	4/21/21	4/27/22	2/20/23	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2022 Q1	2022 Q2	2022 S1
Net sales	-	-	-	-
EBITDA	-	-	-	-
EBIT	-	-	-	-
Operating Margin	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-
Net income ¹	203.2	99.05	145.4	244.5
Net margin	-	-	-	-
EPS	0.1800	-	-	-
Dividend per Share	-	-	-	-
Announcement Date	10/27/21	4/27/22	8/29/22	8/29/22

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	77.8	-	-	-
Net Cash position ¹	-	-	-	647	-	978	829	842
Leverage (Debt/EBITDA)	-	-	-	-	0.1969 x	-	-	-
Free Cash Flow ¹	-	-	-	195	-83.5	1,114	-109	154
ROE (net income / shareholders' equity)	6.69%	12%	24.5%	14.5%	3.31%	3.88%	7.43%	9.51%
ROA (Net income/ Total Assets)	-	6.66%	12.6%	7.1%	1.58%	1.68%	3.34%	4.29%
Assets ¹	-	5,458	7,071	9,469	11,255	17,569	13,950	14,974
Book Value Per Share ²	2.640	2.880	3.770	4.320	4.760	4.920	5.310	5.800
Cash Flow per Share ²	-0.1800	0.1600	0.5000	0.5300	0.2000	0.2100	0.1200	0.2900
Capex ¹	345	502	595	416	319	460	449	421
Capex / Sales	11.13%	10.8%	9.54%	5.36%	4.16%	5.5%	4.56%	3.64%
Announcement Date	2/27/19	2/27/20	4/21/21	4/27/22	2/20/23	-	-	-

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 Keshun Waterproof Technolgies Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4.17 CNY

Average target price

6.697 CNY

Spread / Average Target

+60.59%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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