Stock 600230 CANGZHOU DAHUA CO., LTD.
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Financials Cangzhou Dahua Co., Ltd.

Equities

600230

CNE000001204

Commodity Chemicals

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-29 pm EDT 		5-day change 1st Jan Change
10.43 CNY -1.70% Intraday chart for Cangzhou Dahua Co., Ltd. -1.32% -22.57%
Apr. 28 Cangzhou Dahua Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Apr. 17 Cangzhou Dahua Chairman Resigns, Successor Named MT

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 12,503 6,652 4,255 3,744 5,961 6,899
Enterprise Value (EV) 1 12,089 4,905 3,430 3,888 6,902 7,703
P/E ratio 9.74 x 6.71 x 92.8 x 101 x 26.7 x 16.3 x
Yield 1.18% 1.24% 0.17% 0.17% 0.42% 1.83%
Capitalization / Revenue 2.83 x 1.5 x 2.02 x 2.26 x 2.5 x 1.4 x
EV / Revenue 2.74 x 1.11 x 1.63 x 2.35 x 2.89 x 1.57 x
EV / EBITDA 5.61 x 2.73 x 15.7 x 22.8 x 14.4 x 8.23 x
EV / FCF 9.2 x 4.08 x -11.9 x -7.66 x -5.06 x 54.3 x
FCF Yield 10.9% 24.5% -8.43% -13.1% -19.8% 1.84%
Price to Book 4.56 x 1.85 x 1.2 x 1.05 x 1.57 x 1.75 x
Nbr of stocks (in thousands) 411,864 411,864 411,864 411,864 418,596 418,356
Reference price 2 30.36 16.15 10.33 9.090 14.24 16.49
Announcement Date 4/9/18 3/28/19 4/23/20 4/9/21 4/21/22 4/26/23
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 4,417 4,432 2,106 1,653 2,387 4,914
EBITDA 1 2,156 1,796 218.9 170.7 480 935.6
EBIT 1 1,885 1,504 -34.15 -79.96 200.8 504.3
Operating Margin 42.68% 33.94% -1.62% -4.84% 8.41% 10.26%
Earnings before Tax (EBT) 1 1,793 1,356 -6.511 10.62 216.4 457.6
Net income 1 1,283 990.9 45.84 36.94 220.3 420.1
Net margin 29.05% 22.36% 2.18% 2.23% 9.23% 8.55%
EPS 2 3.115 2.406 0.1113 0.0897 0.5333 1.012
Free Cash Flow 1 1,314 1,202 -289.3 -507.8 -1,365 141.9
FCF margin 29.74% 27.11% -13.74% -30.71% -57.19% 2.89%
FCF Conversion (EBITDA) 60.93% 66.91% - - - 15.16%
FCF Conversion (Net income) 102.4% 121.26% - - - 33.77%
Dividend per Share 2 0.3571 0.2000 0.0180 0.0150 0.0600 0.3020
Announcement Date 4/9/18 3/28/19 4/23/20 4/9/21 4/21/22 4/26/23
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - 144 942 804
Net Cash position 1 414 1,747 824 - - -
Leverage (Debt/EBITDA) - - - 0.8457 x 1.962 x 0.8594 x
Free Cash Flow 1 1,314 1,202 -289 -508 -1,365 142
ROE (net income / shareholders' equity) 61.8% 30.6% 0.66% 0.34% 4.96% 10.4%
ROA (Net income/ Total Assets) 29.1% 21% -0.45% -0.88% 1.86% 4.52%
Assets 1 4,404 4,721 -10,272 -4,185 11,870 9,295
Book Value Per Share 2 6.660 8.710 8.600 8.680 9.040 9.410
Cash Flow per Share 2 1.760 4.310 3.170 2.650 1.020 1.000
Capex 1 51.9 76.2 526 1,108 2,048 402
Capex / Sales 1.17% 1.72% 24.97% 67% 85.8% 8.18%
Announcement Date 4/9/18 3/28/19 4/23/20 4/9/21 4/21/22 4/26/23
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

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