Financials Chengdu Kanghua Biological Products Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-06-04 pm EDT			5-day change	1st Jan Change
56.78 ^CNY	-1.87%		-1.73%	-26.77%

Apr. 29	Chengdu Kanghua Biological Products Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2023, Payable on 08 May 2024	CI
Apr. 23	Chengdu Kanghua Biological Products 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	28,094	19,145	11,318	10,371	7,529	-	-
Enterprise Value (EV) ¹	28,094	19,145	11,318	10,371	7,529	7,529	7,529
P/E ratio	68.9 x	23.1 x	19 x	20.4 x	10.8 x	9.6 x	8.65 x
Yield	-	-	0.59%	2.58%	2.48%	2.84%	3.17%
Capitalization / Revenue	27 x	14.8 x	7.82 x	6.57 x	4.03 x	3.54 x	3.16 x
EV / Revenue	27 x	14.8 x	7.82 x	6.57 x	4.03 x	3.54 x	3.16 x
EV / EBITDA	56.3 x	20.4 x	15.6 x	16.3 x	8.39 x	7.55 x	6.93 x
EV / FCF	-	-	-50,473,210 x	-	-	-	-
FCF Yield	-	-	-0%	-	-	-	-
Price to Book	14.2 x	7.17 x	3.7 x	2.97 x	1.89 x	1.63 x	1.42 x
Nbr of stocks (in thousands)	135,000	135,000	133,749	133,749	132,599	-	-
Reference price ²	208.1	141.8	84.62	77.54	56.78	56.78	56.78
Announcement Date	1/19/21	4/21/22	3/29/23	3/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	1,039	1,292	1,447	1,577	1,868	2,127	2,379
EBITDA ¹	-	499	937.6	725.4	637.9	897.3	997.3	1,086
EBIT ¹	-	485.1	915.8	685.5	576.6	813.3	909.9	1,010
Operating Margin	-	46.7%	70.85%	47.38%	36.55%	43.54%	42.78%	42.46%
Earnings before Tax (EBT) ¹	-	483.9	915.6	683.8	574	812	908.3	1,008
Net income ¹	186.7	408	829.5	598.1	509.2	709.4	796.9	884.2
Net margin	-	39.29%	64.18%	41.34%	32.28%	37.98%	37.47%	37.16%
EPS ²	1.844	3.023	6.144	4.464	3.807	5.268	5.916	6.566
Free Cash Flow	-	-	-	-224.2	-	-	-	-
FCF margin	-	-	-	-15.5%	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.5000	2.000	1.410	1.610	1.800
Announcement Date	6/2/20	1/19/21	4/21/22	3/29/23	3/29/24	-	-	-

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	-	-	-	-224	-	-	-	-
ROE (net income / shareholders' equity)	-	32.2%	35.6%	21%	15.3%	17.6%	17.1%	16.5%
ROA (Net income/ Total Assets)	-	-	32.1%	-	12.9%	15.2%	14.8%	14.1%
Assets ¹	-	-	2,583	-	3,960	4,657	5,384	6,256
Book Value Per Share ²	-	14.60	19.80	22.80	26.10	30.00	34.70	40.00
Cash Flow per Share ²	-	2.740	0.9700	1.450	4.260	6.280	4.900	7.280
Capex ¹	-	136	315	419	157	110	131	142
Capex / Sales	-	13.06%	24.37%	28.98%	9.97%	5.89%	6.17%	5.98%
Announcement Date	6/2/20	1/19/21	4/21/22	3/29/23	3/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

56.78 CNY

Average target price

81.68 CNY

Spread / Average Target

+43.84%

	1st Jan change	Capi.
CHENGDU KANGHUA BIOLOGICAL PRODUCTS CO., LTD.	-26.77%	1.06B
CSL LIMITED	-0.28%	90.59B
SAMSUNG BIOLOGICS CO.,LTD.	0.00%	38.99B
BIOGEN INC.	-8.52%	34.09B
UCB	+64.13%	26.38B
BIOMARIN PHARMACEUTICAL INC.	-17.37%	15.02B
INCYTE CORPORATION	-5.99%	13.17B
BEIJING WANTAI BIOLOGICAL PHARMACY ENTERPRISE CO., LTD.	-10.69%	11.88B
CHONGQING ZHIFEI BIOLOGICAL PRODUCTS CO., LTD.	-47.78%	10.65B
SWEDISH ORPHAN BIOVITRUM AB	+8.09%	9.25B