Financials China Sunshine Paper Holdings Company Limited

Equities

2002

KYG215A01058

Paper Packaging

Market Closed - Hong Kong S.E. 01:38:34 21/06/2024 pm IST 5-day change 1st Jan Change
2.19 HKD -0.45% Intraday chart for China Sunshine Paper Holdings Company Limited -2.67% -19.49%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 899.3 951.9 1,069 1,711 1,935 2,630
Enterprise Value (EV) 1 5,202 4,758 4,605 5,577 6,656 6,241
P/E ratio 2.7 x 2.72 x 2.15 x 2.98 x 9.36 x 6.27 x
Yield 3.2% - - 2.8% - -
Capitalization / Revenue 0.14 x 0.15 x 0.16 x 0.21 x 0.2 x 0.31 x
EV / Revenue 0.79 x 0.75 x 0.69 x 0.7 x 0.7 x 0.75 x
EV / EBITDA 6.63 x 6.27 x 4.93 x 5.79 x 10.9 x 8.38 x
EV / FCF 130 x 9.02 x 39.6 x -11.7 x -7 x 8.41 x
FCF Yield 0.77% 11.1% 2.53% -8.52% -14.3% 11.9%
Price to Book 0.39 x 0.36 x 0.34 x 0.45 x 0.47 x 0.58 x
Nbr of stocks (in thousands) 8,19,362 8,19,362 8,19,362 9,05,164 10,19,130 10,63,744
Reference price 2 1.098 1.162 1.305 1.890 1.899 2.472
Announcement Date 29/04/19 28/04/20 29/04/21 28/04/22 27/04/23 29/04/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 6,586 6,311 6,673 7,982 9,538 8,359
EBITDA 1 784.3 759.4 934.6 962.9 613.1 744.8
EBIT 1 530.9 578.9 705.3 694.6 305.4 449
Operating Margin 8.06% 9.17% 10.57% 8.7% 3.2% 5.37%
Earnings before Tax (EBT) 1 477.9 487.7 733.7 747.1 358.9 595.4
Net income 1 333 350 497.7 556.5 205.7 393.3
Net margin 5.06% 5.55% 7.46% 6.97% 2.16% 4.7%
EPS 2 0.4064 0.4272 0.6074 0.6341 0.2028 0.3941
Free Cash Flow 1 39.96 527.8 116.4 -475.1 -950.6 742.1
FCF margin 0.61% 8.36% 1.74% -5.95% -9.97% 8.88%
FCF Conversion (EBITDA) 5.09% 69.5% 12.45% - - 99.64%
FCF Conversion (Net income) 12% 150.79% 23.38% - - 188.69%
Dividend per Share 2 0.0351 - - 0.0530 - -
Announcement Date 29/04/19 28/04/20 29/04/21 28/04/22 27/04/23 29/04/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 4,303 3,807 3,536 3,866 4,721 3,611
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 5.486 x 5.013 x 3.783 x 4.015 x 7.7 x 4.848 x
Free Cash Flow 1 40 528 116 -475 -951 742
ROE (net income / shareholders' equity) 14.5% 13.1% 16.2% 14.6% 5.51% 9.61%
ROA (Net income/ Total Assets) 3.75% 3.89% 4.69% 4.25% 1.65% 2.31%
Assets 1 8,890 8,991 10,614 13,081 12,465 17,000
Book Value Per Share 2 2.810 3.200 3.810 4.180 4.020 4.290
Cash Flow per Share 2 0.6400 0.8800 0.7500 0.9200 0.8400 1.480
Capex 1 786 700 650 955 658 512
Capex / Sales 11.94% 11.09% 9.74% 11.96% 6.9% 6.13%
Announcement Date 29/04/19 28/04/20 29/04/21 28/04/22 27/04/23 29/04/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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