Financials Zhejiang Juhua Co., Ltd.

Equities

600160

CNE000000WQ6

Commodity Chemicals

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
25.28 ^CNY	+0.32%		+6.89%	+53.31%

Apr. 25	Zhejiang Juhua Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 17	Zhejiang Juhua 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	19,985	21,895	34,854	41,873	44,519	68,250	-	-
Enterprise Value (EV) ¹	19,985	21,895	34,854	41,873	44,519	68,250	68,250	68,250
P/E ratio	22.1 x	203 x	31.5 x	17.6 x	47.1 x	26.4 x	20 x	16.4 x
Yield	1.65%	1.23%	1.01%	1.74%	0.67%	0.93%	1.18%	1.07%
Capitalization / Revenue	1.28 x	1.36 x	1.94 x	1.95 x	2.16 x	2.81 x	2.49 x	2.19 x
EV / Revenue	1.28 x	1.36 x	1.94 x	1.95 x	2.16 x	2.81 x	2.49 x	2.19 x
EV / EBITDA	11.5 x	23.9 x	17.7 x	11.5 x	20.9 x	16.8 x	13.5 x	11.8 x
EV / FCF	-	-	-81.3 x	-303 x	-67.4 x	-102 x	23.8 x	10.4 x
FCF Yield	-	-	-1.23%	-0.33%	-1.48%	-0.98%	4.21%	9.64%
Price to Book	1.55 x	1.75 x	2.61 x	2.71 x	2.77 x	3.75 x	3.28 x	2.87 x
Nbr of stocks (in thousands)	2,745,166	2,699,746	2,699,746	2,699,746	2,699,746	2,699,746	-	-
Reference price ²	7.280	8.110	12.91	15.51	16.49	25.28	25.28	25.28
Announcement Date	4/22/20	3/22/21	4/21/22	4/20/23	4/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	15,595	16,054	17,986	21,489	20,655	24,252	27,422	31,131
EBITDA ¹	1,731	917.6	1,972	3,628	2,132	4,073	5,053	5,796
EBIT ¹	1,066	153.5	1,114	2,755	1,087	2,905	3,770	4,526
Operating Margin	6.84%	0.96%	6.19%	12.82%	5.26%	11.98%	13.75%	14.54%
Earnings before Tax (EBT) ¹	1,065	137	1,076	2,725	1,077	2,889	3,754	4,511
Net income ¹	895.4	95.38	1,109	2,381	943.5	2,589	3,410	4,163
Net margin	5.74%	0.59%	6.17%	11.08%	4.57%	10.67%	12.43%	13.37%
EPS ²	0.3300	0.0400	0.4100	0.8800	0.3500	0.9575	1.261	1.542
Free Cash Flow ¹	-	-	-428.6	-138.4	-660.7	-669	2,873	6,576
FCF margin	-	-	-2.38%	-0.64%	-3.2%	-2.76%	10.48%	21.12%
FCF Conversion (EBITDA)	-	-	-	-	-	-	56.85%	113.46%
FCF Conversion (Net income)	-	-	-	-	-	-	84.26%	157.96%
Dividend per Share ²	0.1200	0.1000	0.1300	0.2700	0.1100	0.2340	0.2980	0.2700
Announcement Date	4/22/20	3/22/21	4/21/22	4/20/23	4/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q3	2023 Q1	2023 Q2
Net sales ¹	5,873	-	5,520
EBITDA	-	-	-
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	-	-
Net income ¹	-	152.6	337.2
Net margin	-	-	6.11%
EPS	-	0.0570	-
Dividend per Share	-	-	-
Announcement Date	10/27/22	4/27/23	8/24/23

¹CNY in Million

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 ¹	-	-	-429	-138	-661	-669	2,873	6,576
ROE (net income / shareholders' equity)	7.05%	0.75%	8.59%	16.6%	5.99%	14.2%	16.2%	16.7%
ROA (Net income/ Total Assets)	5.84%	0.61%	6.6%	11.8%	-	9.97%	11.1%	11.5%
Assets ¹	15,326	15,661	16,793	20,261	-	25,971	30,596	36,263
Book Value Per Share ²	4.700	4.630	4.940	5.730	5.950	6.740	7.700	8.810
Cash Flow per Share ²	0.6900	0.3700	0.4600	1.230	0.8100	1.410	1.700	1.990
Capex ¹	1,737	1,867	1,676	3,455	2,857	3,340	2,545	2,937
Capex / Sales	11.14%	11.63%	9.32%	16.08%	13.83%	13.77%	9.28%	9.43%
Announcement Date	4/22/20	3/22/21	4/21/22	4/20/23	4/17/24	-	-	-

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 Juhua Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

25.28 CNY

Average target price

27.56 CNY

Spread / Average Target

+9.00%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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