Financials Sichuan Guoguang Agrochemical Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-12 pm EDT			5-day change	1st Jan Change
16.4 ^CNY	+0.55%		+1.99%	+36.89%

Apr. 25	Sichuan Guoguang Agrochemical Co., Ltd. Proposes Final Cash Dividend for the Year 2023	CI
Apr. 25	Sichuan Guoguang Agrochemical Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,705	4,356	3,863	5,210	7,266	-	-
Enterprise Value (EV) ¹	4,705	4,356	3,863	5,210	7,266	7,266	7,266
P/E ratio	27.5 x	20.8 x	34.1 x	17.1 x	19.7 x	16.3 x	13.1 x
Yield	-	-	-	2.09%	2.8%	3.39%	4.42%
Capitalization / Revenue	4.06 x	-	-	2.8 x	3.33 x	2.69 x	2.38 x
EV / Revenue	4.06 x	-	-	2.8 x	3.33 x	2.69 x	2.38 x
EV / EBITDA	18.9 x	-	-	11.9 x	14.4 x	12.1 x	10 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	3.89 x	-	-	3.05 x	3.68 x	3.29 x	2.91 x
Nbr of stocks (in thousands)	430,885	435,634	435,463	434,890	443,023	-	-
Reference price ²	10.92	10.00	8.870	11.98	16.40	16.40	16.40
Announcement Date	2/23/21	2/16/22	4/17/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	1,160	-	-	1,860	2,184	2,704	3,058
EBITDA ¹	-	249	-	-	438.6	503.5	601	725.5
EBIT ¹	-	207	-	-	371.5	453	539.7	677.5
Operating Margin	-	17.84%	-	-	19.97%	20.74%	19.96%	22.16%
Earnings before Tax (EBT) ¹	-	207.2	-	-	371.4	452.5	539.7	677.5
Net income ¹	201.1	170.8	205.9	113.6	302	370	443.2	553.5
Net margin	-	14.73%	-	-	16.24%	16.94%	16.39%	18.1%
EPS ²	-	0.3968	0.4800	0.2600	0.7000	0.8333	1.003	1.250
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	0.2500	0.4600	0.5567	0.7250
Announcement Date	2/24/20	2/23/21	2/16/22	4/17/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	14.9%	-	8.04%	19.1%	18.7%	20.3%	22.4%
ROA (Net income/ Total Assets)	-	11.1%	-	-	-	12.6%	12.9%	15.3%
Assets ¹	-	1,544	-	-	-	2,945	3,439	3,619
Book Value Per Share ²	-	2.800	-	-	3.930	4.460	4.980	5.630
Cash Flow per Share ²	-	0.4900	-	-	0.9200	1.070	1.010	1.430
Capex ¹	-	55.2	-	-	65.3	74	77.3	81
Capex / Sales	-	4.76%	-	-	3.51%	3.39%	2.86%	2.65%
Announcement Date	2/24/20	2/23/21	2/16/22	4/17/23	4/24/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

16.4 CNY

Average target price

20.5 CNY

Spread / Average Target

+25.00%

	1st Jan change	Capi.
SICHUAN GUOGUANG AGROCHEMICAL CO., LTD.	+36.89%	1B
CORTEVA, INC.	+20.08%	40.06B
PHOSAGRO	-.--%	11.1B
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PI INDUSTRIES LIMITED	+4.22%	6.46B
ICL GROUP LTD	-3.19%	6.09B
OCI N.V.	-6.17%	5.61B
YUNNAN YUNTIANHUA CO., LTD.	+39.42%	5.46B
THE FERTILISERS AND CHEMICALS TRAVANCORE LIMITED	-20.08%	5.11B
UPL LIMITED	-9.05%	4.51B