Financials Chongqing Zaisheng Technology Co., Ltd.

Equities

603601

CNE100001V29

Specialty Chemicals

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 30/04/2024 am IST			5-day change	1st Jan Change
3.21 ^CNY	-1.53%		+8.45%	-25.35%

24/04	Chongqing Zaisheng Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
2023	Chongqing Zaisheng Technology Co., Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,377	9,814	8,982	5,376	4,393	3,279	-	-
Enterprise Value (EV) ¹	5,377	9,814	9,069	5,552	4,393	3,279	3,279	3,279
P/E ratio	32.1 x	27.5 x	36.1 x	35.6 x	115 x	14 x	14 x	16.1 x
Yield	-	1.1%	0.85%	0.85%	-	-	-	-
Capitalization / Revenue	4.29 x	5.21 x	5.55 x	3.32 x	2.65 x	1.97 x	1.48 x	1.41 x
EV / Revenue	4.29 x	5.21 x	5.55 x	3.32 x	2.65 x	1.97 x	1.48 x	1.41 x
EV / EBITDA	21.9 x	-	24.3 x	19.5 x	23 x	12.5 x	9.52 x	7.96 x
EV / FCF	-	-	-89,83,22,707 x	-	-	-	-	-
FCF Yield	-	-	-0%	-	-	-	-	-
Price to Book	3.77 x	5.39 x	4.5 x	2.57 x	2.1 x	1.45 x	1.29 x	1.29 x
Nbr of stocks (in thousands)	9,83,942	10,06,560	10,13,316	10,18,261	10,21,644	10,21,649	-	-
Reference price ²	5.464	9.750	8.864	5.280	4.300	3.210	3.210	3.210
Announcement Date	22/04/20	19/04/21	09/03/22	25/04/23	24/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,252	1,884	1,620	1,618	1,656	1,665	2,221	2,333
EBITDA ¹	246	-	369.4	276	191.3	261.5	344.5	411.9
EBIT ¹	186.5	470.4	269.9	155	55.45	214.3	244.9	275.7
Operating Margin	14.89%	24.96%	16.66%	9.58%	3.35%	12.87%	11.03%	11.82%
Earnings before Tax (EBT) ¹	185	470.7	270	155.1	56	214.5	245.2	276.2
Net income ¹	170.9	359.7	249.5	151	38.13	235.8	233.5	201.4
Net margin	13.65%	19.09%	15.4%	9.33%	2.3%	14.16%	10.51%	8.63%
EPS ²	0.1703	0.3551	0.2456	0.1483	0.0374	0.2300	0.2300	0.2000
Free Cash Flow	-	-	-9.999	-	-	-	-	-
FCF margin	-	-	-0.62%	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	0.1071	0.0750	0.0450	-	-	-	-
Announcement Date	22/04/20	19/04/21	09/03/22	25/04/23	24/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4
Net sales ¹	463.5	368.2	422.2	407.5	420.5
EBITDA	-	-	-	-	-
EBIT ¹	68.88	67.31	53.63	37.74	-3.651
Operating Margin	14.86%	18.28%	12.7%	9.26%	-0.87%
Earnings before Tax (EBT)	-	-	-	-	-
Net income	-	-	-	-	-
Net margin	-	-	-	-	-
EPS ²	-	0.0815	0.0300	0.0300	0.0100
Dividend per Share	-	-	-	-	-
Announcement Date	09/03/22	29/04/22	29/08/22	28/10/22	25/04/23

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	86.8	175	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	0.2351 x	0.6355 x	-	-	-	-
Free Cash Flow	-	-	-10	-	-	-	-	-
ROE (net income / shareholders' equity)	12.5%	21.6%	13.1%	7.39%	1.74%	4.75%	7.7%	7.92%
ROA (Net income/ Total Assets)	-	-	8.79%	-	-	-	-	-
Assets ¹	-	-	2,837	-	-	-	-	-
Book Value Per Share ²	1.450	1.810	1.970	2.060	2.050	2.220	2.490	2.500
Cash Flow per Share ²	0.3500	0.2900	0.1500	0.2600	0	0.2600	0.1300	0.1600
Capex ¹	113	93.2	159	-	59.5	100	102	141
Capex / Sales	9%	4.95%	9.8%	-	3.59%	6.01%	4.59%	6.06%
Announcement Date	22/04/20	19/04/21	09/03/22	25/04/23	24/04/24	-	-	-

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 Chongqing Zaisheng Technology Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.21 CNY

Average target price

3.47 CNY

Spread / Average Target

+8.10%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Cellular Fiber

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LUYANG ENERGY-SAVING MATERIALS CO., LTD.	-7.02%	927M
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Cellular Fiber