Financials Zhejiang Taihua New Material Co.,Ltd

Equities

603055

CNE100002VM2

Textiles & Leather Goods

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-07 pm EDT			5-day change	1st Jan Change
11.58 ^CNY	+0.61%		+4.04%	-3.82%

Apr. 08	Zhejiang Taihua New Material Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Apr. 02	Tranche Update on Zhejiang Taihua New Material Co.,Ltd's Equity Buyback Plan announced on March 22, 2024.	CI

Valuation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,022	13,034	8,377	10,025	9,642	-	-
Enterprise Value (EV) ¹	5,022	13,034	8,377	10,025	9,642	9,642	9,642
P/E ratio	37.9 x	29.8 x	32.6 x	24.1 x	16.9 x	12.3 x	11.5 x
Yield	-	1.06%	0.99%	1.33%	2.14%	2.5%	-
Capitalization / Revenue	-	3.06 x	2.09 x	1.97 x	1.54 x	1.34 x	1.1 x
EV / Revenue	-	3.06 x	2.09 x	1.97 x	1.54 x	1.34 x	1.1 x
EV / EBITDA	-	15.9 x	13.3 x	12 x	7.89 x	6.36 x	6.01 x
EV / FCF	-	-84.6 x	-15.9 x	-6.84 x	55.1 x	22.7 x	-
FCF Yield	-	-1.18%	-6.27%	-14.6%	1.81%	4.4%	-
Price to Book	-	3.79 x	2.24 x	2.44 x	2.14 x	1.87 x	1.69 x
Nbr of stocks (in thousands)	828,786	811,061	829,397	832,657	832,663	-	-
Reference price ²	6.060	16.07	10.10	12.04	11.58	11.58	11.58
Announcement Date	3/26/21	3/11/22	4/10/23	4/8/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	4,257	4,009	5,094	6,255	7,172	8,790
EBITDA ¹	-	820.8	630.1	833.7	1,221	1,516	1,604
EBIT ¹	-	518.2	299.4	481.1	670.5	914.3	977.7
Operating Margin	-	12.17%	7.47%	9.45%	10.72%	12.75%	11.12%
Earnings before Tax (EBT) ¹	-	516.5	291.6	480.5	666.8	911.3	974.8
Net income ¹	119.7	463.7	268.7	449.1	613.8	839.3	901.2
Net margin	-	10.89%	6.7%	8.82%	9.81%	11.7%	10.25%
EPS ²	0.1600	0.5400	0.3100	0.5000	0.6850	0.9417	1.010
Free Cash Flow ¹	-	-154	-525.6	-1,465	175	424	-
FCF margin	-	-3.62%	-13.11%	-28.76%	2.8%	5.91%	-
FCF Conversion (EBITDA)	-	-	-	-	14.33%	27.97%	-
FCF Conversion (Net income)	-	-	-	-	28.51%	50.52%	-
Dividend per Share ²	-	0.1700	0.1000	0.1600	0.2475	0.2900	-
Announcement Date	3/26/21	3/11/22	4/10/23	4/8/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 S1
Net sales ¹	2,197
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income	-
Net margin	-
EPS	-
Dividend per Share	-
Announcement Date	8/21/23

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-154	-526	-1,465	175	424	-
ROE (net income / shareholders' equity)	-	14.2%	7.03%	10.5%	12.8%	15.4%	14.8%
ROA (Net income/ Total Assets)	-	7.82%	3.83%	-	6%	7.01%	6.8%
Assets ¹	-	5,933	7,007	-	10,230	11,982	13,253
Book Value Per Share ²	-	4.240	4.510	4.930	5.420	6.190	6.870
Cash Flow per Share ²	-	0.4100	0.6700	0.3400	0.9900	1.310	1.450
Capex ¹	-	501	1,121	1,768	923	1,073	1,026
Capex / Sales	-	11.78%	27.96%	34.71%	14.76%	14.96%	11.67%
Announcement Date	3/26/21	3/11/22	4/10/23	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 Taihua New Material Co.,Ltd

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

11.58 CNY

Average target price

13.7 CNY

Spread / Average Target

+18.31%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Yarn Goods

	1st Jan change	Capi.
ZHEJIANG TAIHUA NEW MATERIAL CO.,LTD	-3.82%	1.33B
CHINA JUSHI CO., LTD.	+27.26%	7.12B
VARDHMAN TEXTILES LIMITED	+12.30%	1.54B
BROS EASTERN.,LTD	+17.45%	1.17B
HUAFU FASHION CO., LTD.	+6.05%	1.08B
TAINAN SPINNING CO., LTD.	+14.56%	932M
ZHEJIANG XINAO TEXTILES INC.	+7.16%	780M
THE JAPAN WOOL TEXTILE CO., LTD.	+0.60%	606M
ZHEWEN PICTURES GROUP CO.,LTD	-18.12%	573M
TEXHONG INTERNATIONAL GROUP LIMITED	+4.11%	546M

Yarn Goods