Financials Zhejiang Jingxing PaperCo., Ltd.

Equities

002067

CNE000001NP5

Paper Packaging

End-of-day quote Shenzhen S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
2.91 CNY +5.82% Intraday chart for Zhejiang Jingxing PaperCo., Ltd. +8.18% -14.16%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 6,647 3,900 3,711 3,900 4,823 4,047
Enterprise Value (EV) 1 7,961 5,017 3,814 3,912 4,990 4,191
P/E ratio 10.2 x 11.7 x 19.7 x 13.3 x 12.9 x 38.9 x
Yield 0.85% 0.57% 1.05% - - -
Capitalization / Revenue 1.24 x 0.66 x 0.71 x 0.8 x 0.77 x 0.65 x
EV / Revenue 1.49 x 0.84 x 0.73 x 0.8 x 0.8 x 0.67 x
EV / EBITDA 7.8 x 6.92 x 7.22 x 6.61 x 6.57 x 11.3 x
EV / FCF -61.9 x 27.5 x 3.69 x -61.1 x -35.3 x 9.12 x
FCF Yield -1.62% 3.64% 27.1% -1.64% -2.83% 11%
Price to Book 1.69 x 0.93 x 0.85 x 0.82 x 0.89 x 0.73 x
Nbr of stocks (in thousands) 1,128,451 1,111,201 1,111,201 1,111,201 1,193,923 1,193,942
Reference price 2 5.890 3.510 3.340 3.510 4.040 3.390
Announcement Date 4/25/18 4/27/19 4/2/20 4/21/21 4/15/22 4/28/23
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 5,360 5,938 5,251 4,875 6,225 6,227
EBITDA 1 1,020 725.1 528.2 592.3 759.1 372.5
EBIT 1 781.7 485.2 282.9 343.3 500.4 109.3
Operating Margin 14.59% 8.17% 5.39% 7.04% 8.04% 1.76%
Earnings before Tax (EBT) 1 801.9 402.4 220.4 369 475.7 123.7
Net income 1 638.1 335.3 188.7 311.9 441.1 117.6
Net margin 11.91% 5.65% 3.59% 6.4% 7.09% 1.89%
EPS 2 0.5800 0.3000 0.1698 0.2647 0.3126 0.0872
Free Cash Flow 1 -128.6 182.4 1,032 -64.03 -141.3 459.6
FCF margin -2.4% 3.07% 19.66% -1.31% -2.27% 7.38%
FCF Conversion (EBITDA) - 25.15% 195.43% - - 123.4%
FCF Conversion (Net income) - 54.39% 547.13% - - 390.87%
Dividend per Share 2 0.0500 0.0200 0.0350 - - -
Announcement Date 4/25/18 4/27/19 4/2/20 4/21/21 4/15/22 4/28/23
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 1,314 1,116 103 12.2 166 144
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 1.288 x 1.54 x 0.1941 x 0.0205 x 0.2192 x 0.3856 x
Free Cash Flow 1 -129 182 1,032 -64 -141 460
ROE (net income / shareholders' equity) 18.9% 8.58% 4.58% 7.02% 8.89% 2.21%
ROA (Net income/ Total Assets) 8.15% 4.78% 2.94% 3.31% 4.11% 0.86%
Assets 1 7,829 7,008 6,424 9,416 10,742 13,680
Book Value Per Share 2 3.480 3.790 3.930 4.290 4.550 4.630
Cash Flow per Share 2 0.2900 0.3400 0.4500 1.420 1.120 0.9100
Capex 1 34.3 26.4 165 601 519 654
Capex / Sales 0.64% 0.44% 3.14% 12.32% 8.35% 10.5%
Announcement Date 4/25/18 4/27/19 4/2/20 4/21/21 4/15/22 4/28/23
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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