Financials Yongxing Special Materials Technology Co.,Ltd

Equities

002756

CNE100001XB3

Commodity Chemicals

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
45.59 CNY +0.44% Intraday chart for Yongxing Special Materials Technology Co.,Ltd -6.15% -12.68%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 4,291 6,462 20,844 60,089 38,222 24,578 24,578 -
Enterprise Value (EV) 1 4,291 6,462 20,844 58,261 29,195 14,776 14,424 13,772
P/E ratio 11 x 18.9 x 76.4 x 67.6 x 5.94 x 6.78 x 7.7 x 7.84 x
Yield - 2.54% 0.57% 0.34% 5.42% 4.39% 2.65% 2.56%
Capitalization / Revenue 0.9 x 1.32 x 4.19 x 8.35 x 2.45 x 1.92 x 2.1 x 2.07 x
EV / Revenue 0.9 x 1.32 x 4.19 x 8.09 x 1.87 x 1.15 x 1.23 x 1.16 x
EV / EBITDA - 12.4 x 45.2 x 49.5 x 3.71 x 3.54 x 5.34 x 5.73 x
EV / FCF - - - 117 x 4.72 x 5.28 x 7.35 x 6.54 x
FCF Yield - - - 0.86% 21.2% 19% 13.6% 15.3%
Price to Book 1.25 x 1.9 x 5.35 x 11.9 x 3.11 x 1.75 x 1.56 x 1.39 x
Nbr of stocks (in thousands) 468,000 468,000 499,759 527,735 539,102 539,102 539,102 -
Reference price 2 9.169 13.81 41.71 113.9 70.90 45.59 45.59 45.59
Announcement Date 2/13/19 2/28/20 4/13/21 4/25/22 3/12/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 4,794 4,909 4,973 7,199 15,579 12,830 11,684 11,897
EBITDA 1 - 520.4 461.3 1,177 7,879 4,179 2,703 2,401
EBIT 1 450 414.7 325.6 1,012 7,671 4,446 3,844 3,781
Operating Margin 9.39% 8.45% 6.55% 14.06% 49.24% 34.65% 32.9% 31.78%
Earnings before Tax (EBT) 1 446.4 412.9 321.1 1,010 7,664 4,376 3,840 3,777
Net income 1 387.3 343.6 258 887.1 6,320 3,536 2,531 2,331
Net margin 8.08% 7% 5.19% 12.32% 40.57% 27.56% 21.66% 19.6%
EPS 2 0.8308 0.7308 0.5462 1.685 11.93 6.725 5.918 5.812
Free Cash Flow 1 - - - 498.3 6,185 2,801 1,962 2,106
FCF margin - - - 6.92% 39.7% 21.83% 16.79% 17.71%
FCF Conversion (EBITDA) - - - 42.33% 78.5% 67.02% 72.56% 87.72%
FCF Conversion (Net income) - - - 56.18% 97.87% 79.22% 77.51% 90.36%
Dividend per Share 2 - 0.3508 0.2385 0.3846 3.846 2.003 1.208 1.168
Announcement Date 2/13/19 2/28/20 4/13/21 4/25/22 3/12/23 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 S1 2022 Q3 2022 S2 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2
Net sales 1 - - 9,164 3,319 4,639 3,492 3,135 3,171
EBITDA - - - - - - - -
EBIT - - 4,982 - - - - -
Operating Margin - - 54.36% - - - - -
Earnings before Tax (EBT) - - - - - - - -
Net income 2,263 2,007 - - - - - -
Net margin - - - - - - - -
EPS - - - - - - - -
Dividend per Share - - - - - - - -
Announcement Date 8/8/22 10/27/22 3/12/23 8/28/23 - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - - - - - -
Net Cash position 1 - - - 1,828 9,027 9,802 10,154 10,805
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - 498 6,185 2,801 1,962 2,107
ROE (net income / shareholders' equity) 11.5% 10.4% 7.42% 19.3% 74.7% 26.8% 18.3% 16.4%
ROA (Net income/ Total Assets) - 7.73% 5.21% 15.1% - 21.9% 11.5% 10.8%
Assets 1 - 4,443 4,952 5,865 - 16,182 22,006 21,686
Book Value Per Share 2 7.310 7.270 7.790 9.540 22.80 26.10 29.30 32.90
Cash Flow per Share 2 1.080 0.7400 1.070 - 12.30 6.110 6.270 5.520
Capex 1 377 210 120 287 464 432 507 443
Capex / Sales 7.86% 4.27% 2.41% 3.99% 2.98% 3.36% 4.34% 3.73%
Announcement Date 2/13/19 2/28/20 4/13/21 4/25/22 3/12/23 - - -
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

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
45.59 CNY
Average target price
52.49 CNY
Spread / Average Target
+15.13%
Consensus

Quarterly revenue - Rate of surprise

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