Financials Shanghai Belling Co., Ltd.

Equities

600171

CNE000000XB6

Semiconductors

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
12.08 CNY +3.34% Intraday chart for Shanghai Belling Co., Ltd. +7.19% -15.05%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 6,534 11,019 9,806 18,170 12,331 10,055
Enterprise Value (EV) 1 5,290 9,194 8,750 16,118 10,895 8,945
P/E ratio 62.3 x 46.3 x 18.7 x 24.9 x 30.6 x -158 x
Yield 0.48% 0.7% 0.93% 0.78% 1.15% 0.7%
Capitalization / Revenue 8.33 x 12.5 x 7.36 x 8.98 x 6.03 x 4.7 x
EV / Revenue 6.74 x 10.5 x 6.57 x 7.96 x 5.33 x 4.19 x
EV / EBITDA 121 x 113 x 53.5 x 44.1 x 35.3 x 65.5 x
EV / FCF -97.3 x 250 x 275 x 56.1 x -74.4 x -320 x
FCF Yield -1.03% 0.4% 0.36% 1.78% -1.34% -0.31%
Price to Book 2.69 x 3.62 x 2.98 x 4.51 x 2.71 x 1.75 x
Nbr of stocks (in thousands) 699,610 699,610 699,396 708,089 707,452 707,085
Reference price 2 9.340 15.75 14.02 25.66 17.43 14.22
Announcement Date 4/1/19 3/30/20 3/29/21 3/28/22 3/27/23 4/1/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 784.3 878.6 1,332 2,024 2,044 2,137
EBITDA 1 43.66 81.71 163.6 365.6 309 136.5
EBIT 1 26.93 72.3 152.7 353.6 292.8 112.5
Operating Margin 3.43% 8.23% 11.46% 17.47% 14.32% 5.27%
Earnings before Tax (EBT) 1 104.7 265.1 618.6 766.7 428.3 -102.3
Net income 1 102 240.8 528 729.3 399 -60.22
Net margin 13.01% 27.4% 39.63% 36.03% 19.52% -2.82%
EPS 2 0.1500 0.3400 0.7500 1.030 0.5700 -0.0900
Free Cash Flow 1 -54.36 36.77 31.77 287.3 -146.4 -27.99
FCF margin -6.93% 4.18% 2.38% 14.19% -7.16% -1.31%
FCF Conversion (EBITDA) - 45% 19.41% 78.58% - -
FCF Conversion (Net income) - 15.27% 6.02% 39.39% - -
Dividend per Share 2 0.0450 0.1100 0.1300 0.2000 0.2000 0.1000
Announcement Date 4/1/19 3/30/20 3/29/21 3/28/22 3/27/23 4/1/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 1,244 1,825 1,055 2,051 1,436 1,110
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -54.4 36.8 31.8 287 -146 -28
ROE (net income / shareholders' equity) 4.24% 8.38% 16.6% 20.2% 9.74% -1.45%
ROA (Net income/ Total Assets) 0.62% 1.41% 2.56% 5.18% 3.8% 1.43%
Assets 1 16,535 17,135 20,646 14,090 10,506 -4,215
Book Value Per Share 2 3.470 4.350 4.710 5.700 6.440 8.130
Cash Flow per Share 2 1.730 2.060 0.7000 1.900 1.110 1.480
Capex 1 4.61 23.3 18.7 10 35.9 27.3
Capex / Sales 0.59% 2.66% 1.41% 0.49% 1.76% 1.28%
Announcement Date 4/1/19 3/30/20 3/29/21 3/28/22 3/27/23 4/1/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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