Financials GCH Technology Co., Ltd.

Equities

688625

CNE1000051K2

Specialty Chemicals

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 10/05/2024 am IST			5-day change	1st Jan Change
40.43 ^CNY	-0.71%		+5.40%	+3.09%

22/04	GCH Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
22/04	GCH Technology Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,484	6,523	5,308	5,356	-	-
Enterprise Value (EV) ¹	7,484	6,523	6,182	5,356	5,356	5,356
P/E ratio	41.6 x	33.5 x	23.3 x	20.6 x	15.9 x	14.1 x
Yield	0.67%	-	1.91%	1.95%	2.2%	2.82%
Capitalization / Revenue	13 x	9.39 x	6.64 x	5.4 x	4.19 x	3.94 x
EV / Revenue	13 x	9.39 x	6.64 x	5.4 x	4.19 x	3.94 x
EV / EBITDA	-	27.3 x	18.8 x	16.3 x	12.1 x	11.2 x
EV / FCF	-	29.5 x	110 x	13.6 x	28.8 x	16.9 x
FCF Yield	-	3.38%	0.91%	7.36%	3.47%	5.92%
Price to Book	8.23 x	6.17 x	4.16 x	3.66 x	3.08 x	2.66 x
Nbr of stocks (in thousands)	1,33,333	1,33,333	1,35,328	1,32,483	-	-
Reference price ²	56.13	48.92	39.22	40.43	40.43	40.43
Announcement Date	24/02/22	27/02/23	28/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	576.2	694.9	799.6	991.3	1,278	1,358
EBITDA ¹	-	-	239.2	281.9	328	442.5	480
EBIT ¹	-	181.8	227.9	264.2	310.5	402.5	452.5
Operating Margin	-	31.56%	32.79%	33.04%	31.32%	31.51%	33.33%
Earnings before Tax (EBT) ¹	-	181.8	227.5	264.2	310.5	402	452.5
Net income ¹	116.5	157	195.2	225.6	265	344.8	387
Net margin	-	27.25%	28.09%	28.22%	26.73%	26.99%	28.5%
EPS ²	-	1.350	1.460	1.680	1.960	2.548	2.860
Free Cash Flow ¹	-	-	220.8	48.34	394	186	317
FCF margin	-	-	31.77%	6.05%	39.75%	14.56%	23.35%
FCF Conversion (EBITDA)	-	-	92.28%	17.15%	120.12%	42.03%	66.04%
FCF Conversion (Net income)	-	-	113.09%	21.42%	148.68%	53.95%	81.91%
Dividend per Share ²	-	0.3750	-	0.7500	0.7900	0.8900	1.140
Announcement Date	18/05/21	24/02/22	27/02/23	28/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q1	2022 Q2	2022 Q3	2022 Q4
Net sales ¹	154.5	175.9	162.4	202
EBITDA	-	-	-	-
EBIT ¹	54.04	61.19	51.73	60.92
Operating Margin	34.97%	34.79%	31.85%	30.15%
Earnings before Tax (EBT)	-	-	-	-
Net income	-	-	-	-
Net margin	-	-	-	-
EPS	-	-	-	-
Dividend per Share	-	-	-	-
Announcement Date	26/04/22	19/08/22	24/10/22	27/02/23

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	875	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	3.103 x	-	-	-
Free Cash Flow ¹	-	-	221	48.3	394	186	317
ROE (net income / shareholders' equity)	-	25.7%	19.9%	18.8%	18.1%	19.9%	19%
ROA (Net income/ Total Assets)	-	-	11.1%	7.98%	7.5%	9.8%	9%
Assets ¹	-	-	1,760	2,828	3,533	3,518	4,300
Book Value Per Share ²	-	6.820	7.930	9.430	11.10	13.10	15.20
Cash Flow per Share ²	-	-	2.220	1.180	2.380	2.530	2.710
Capex ¹	-	-	75.6	111	95	67.8	67.5
Capex / Sales	-	-	10.88%	13.85%	9.58%	5.3%	4.97%
Announcement Date	18/05/21	24/02/22	27/02/23	28/02/24	-	-	-

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 GCH Technology Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

40.43 CNY

Average target price

49.75 CNY

Spread / Average Target

+23.05%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other Specialty Chemicals

	1st Jan change	Capi.
GCH TECHNOLOGY CO., LTD.	+3.09%	741M
ECOLAB INC.	+17.73%	66.69B
GIVAUDAN SA	+16.33%	41.24B
FUJIFILM HOLDINGS CORPORATION	+18.68%	25.89B
EMS-CHEMIE HOLDING AG	+12.78%	19.81B
CELANESE CORPORATION	+0.85%	17.48B
POSCO FUTURE M CO., LTD.	-21.87%	15.86B
SYMRISE AG	+2.32%	15.35B
ALBEMARLE CORPORATION	-10.29%	15.23B
SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A.	-22.30%	13.36B

Other Specialty Chemicals