Stock 603637 ZHENHAI PETROCHEMICAL ENGINEERING CO., LTD
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Financials Zhenhai Petrochemical Engineering CO., LTD

Equities

603637

CNE100002YZ8

Oil Related Services and Equipment

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-29 pm EDT 		5-day change 1st Jan Change
6.82 CNY -2.57% Intraday chart for Zhenhai Petrochemical Engineering CO., LTD +2.71% -24.22%
Mar. 28 Zhenhai Petrochemical Engineering CO., LTD Reports Earnings Results for the Full Year Ended December 31, 2023 CI
2023 Zhenhai Petrochemical Engineering CO., LTD Reports Earnings Results for the Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,572 2,692 1,950 2,411 1,821 2,148
Enterprise Value (EV) 1 2,031 1,782 1,206 1,509 883.4 1,187
P/E ratio 47.7 x 46.9 x 29.6 x 32.6 x 17.7 x 21.4 x
Yield 1.69% 1.29% 1.88% 1.19% 1.7% 1.44%
Capitalization / Revenue 4.06 x 2.61 x 1.78 x 2.19 x 3.17 x 3.67 x
EV / Revenue 3.2 x 1.72 x 1.1 x 1.37 x 1.54 x 2.03 x
EV / EBITDA 48.9 x 39.5 x 26.3 x 27.5 x 9.43 x 13.8 x
EV / FCF 26.8 x 4.36 x -6.77 x 9.76 x 40.9 x 454 x
FCF Yield 3.74% 22.9% -14.8% 10.2% 2.45% 0.22%
Price to Book 3.41 x 3.47 x 2.36 x 2.95 x 2.04 x 2.24 x
Nbr of stocks (in thousands) 243,637 243,779 243,702 238,686 238,686 238,686
Reference price 2 10.56 11.04 8.000 10.10 7.630 9.000
Announcement Date 4/17/19 4/9/20 4/15/21 4/21/22 4/20/23 3/28/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 633.9 1,033 1,096 1,100 574.5 585.4
EBITDA 1 41.54 45.06 45.94 54.99 93.72 86.15
EBIT 1 34.74 37.8 38.68 47.63 86.21 78.61
Operating Margin 5.48% 3.66% 3.53% 4.33% 15.01% 13.43%
Earnings before Tax (EBT) 1 61.58 63.62 73.39 84.83 117.3 112.9
Net income 1 53.67 57.5 65.12 74.89 103.1 101.3
Net margin 8.47% 5.57% 5.94% 6.81% 17.94% 17.3%
EPS 2 0.2214 0.2357 0.2700 0.3100 0.4300 0.4200
Free Cash Flow 1 75.85 408.3 -178 154.6 21.61 2.611
FCF margin 11.97% 39.53% -16.24% 14.06% 3.76% 0.45%
FCF Conversion (EBITDA) 182.6% 906.09% - 281.24% 23.05% 3.03%
FCF Conversion (Net income) 141.32% 710.07% - 206.49% 20.97% 2.58%
Dividend per Share 2 0.1786 0.1429 0.1500 0.1200 0.1300 0.1300
Announcement Date 4/17/19 4/9/20 4/15/21 4/21/22 4/20/23 3/28/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 541 910 744 901 938 961
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 75.9 408 -178 155 21.6 2.61
ROE (net income / shareholders' equity) 7.28% 7.51% 8.21% 9.21% 12.1% 10.9%
ROA (Net income/ Total Assets) 2.24% 2% 1.78% 2.12% 3.8% 3.48%
Assets 1 2,399 2,869 3,668 3,531 2,709 2,912
Book Value Per Share 2 3.100 3.180 3.390 3.420 3.730 4.030
Cash Flow per Share 2 2.220 3.730 2.570 3.780 3.300 3.900
Capex 1 10.5 9.64 8.17 3.97 5.51 3.58
Capex / Sales 1.65% 0.93% 0.75% 0.36% 0.96% 0.61%
Announcement Date 4/17/19 4/9/20 4/15/21 4/21/22 4/20/23 3/28/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Oil Related Services

1st Jan change Capi.
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