ZHEJIANG JIUZHOU PHARMACEUTICAL CO., LTD

Financials Zhejiang Jiuzhou Pharmaceutical Co., Ltd

Equities

603456

CNE100001W36

Pharmaceuticals

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
15.6 ^CNY	+3.24%		+5.62%	-35.56%

Apr. 24	Zhejiang Jiuzhou Pharmaceutical Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 08	Zhejiang Jiuzhou Pharmaceutical Co., Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	11,231	28,827	46,842	35,397	21,777	14,032	-	-
Enterprise Value (EV) ¹	11,231	28,827	46,842	35,397	21,777	14,032	14,032	14,032
P/E ratio	46.5 x	76.2 x	74 x	38.2 x	20.9 x	11.2 x	8.84 x	9.02 x
Yield	-	-	0.44%	0.94%	2.07%	3.11%	3.62%	4.36%
Capitalization / Revenue	5.57 x	10.9 x	11.5 x	6.5 x	3.94 x	2.23 x	1.94 x	1.76 x
EV / Revenue	5.57 x	10.9 x	11.5 x	6.5 x	3.94 x	2.23 x	1.94 x	1.76 x
EV / EBITDA	23.6 x	40.7 x	44.8 x	24.4 x	14 x	7.85 x	6.61 x	5.89 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.93 x	9.35 x	10.2 x	6.68 x	2.57 x	1.51 x	1.36 x	1.22 x
Nbr of stocks (in thousands)	805,662	805,235	832,596	834,255	899,486	899,486	-	-
Reference price ²	13.94	35.80	56.26	42.43	24.21	15.60	15.60	15.60
Announcement Date	4/8/20	4/27/21	4/19/22	4/27/23	4/8/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,017	2,647	4,063	5,445	5,523	6,294	7,251	7,954
EBITDA ¹	476.4	708.9	1,045	1,452	1,554	1,787	2,122	2,381
EBIT ¹	285.4	456.1	753.6	1,108	1,176	1,391	1,647	1,817
Operating Margin	14.15%	17.23%	18.55%	20.35%	21.29%	22.1%	22.72%	22.84%
Earnings before Tax (EBT) ¹	286.9	449.9	744.7	1,104	1,181	1,390	1,646	1,816
Net income ¹	237.8	380.6	633.9	920.9	1,033	1,259	1,589	1,556
Net margin	11.79%	14.38%	15.6%	16.91%	18.71%	20%	21.91%	19.56%
EPS ²	0.3000	0.4700	0.7600	1.110	1.160	1.398	1.764	1.730
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	0.2500	0.4000	0.5000	0.4850	0.5650	0.6800
Announcement Date	4/8/20	4/27/21	4/19/22	4/27/23	4/8/24	-	-	-

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

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)	8.52%	12.9%	15.1%	18.7%	13.1%	14.4%	15.3%	13.6%
ROA (Net income/ Total Assets)	-	-	10.5%	12.3%	-	9.79%	10.5%	10.5%
Assets ¹	-	-	6,021	7,477	-	12,864	15,199	14,866
Book Value Per Share ²	3.540	3.830	5.500	6.350	9.410	10.40	11.50	12.80
Cash Flow per Share ²	0.6900	0.5000	0.8100	1.470	1.510	1.730	1.980	2.280
Capex ¹	313	316	572	705	925	739	1,126	1,241
Capex / Sales	15.53%	11.93%	14.07%	12.95%	16.75%	11.74%	15.53%	15.61%
Announcement Date	4/8/20	4/27/21	4/19/22	4/27/23	4/8/24	-	-	-

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 Zhejiang Jiuzhou Pharmaceutical Co., Ltd

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

15.6 CNY

Average target price

23.2 CNY

Spread / Average Target

+48.73%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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