Financials Hangzhou Huaguang Advanced Welding Materials Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 17/05/2024 am IST			5-day change	1st Jan Change
16.02 ^CNY	+3.42%		+0.69%	-18.97%

29/04	Hangzhou Huaguang Advanced Welding Materials Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
16/03	Hangzhou Huaguang Investment Co., Ltd. acquired 9.75% stake in Hangzhou Huaguang Advanced Welding Materials Co.,Ltd. from Hangzhou Tongzhou Investment Co., Ltd. for CNY 10.63 million.	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,131	1,936	1,409	1,702	1,414	-	-
Enterprise Value (EV) ¹	2,131	1,936	1,409	1,702	1,414	1,414	1,414
P/E ratio	27.5 x	44.9 x	163 x	41.2 x	22.6 x	12.1 x	13.6 x
Yield	-	-	-	-	1.25%	1.31%	1.37%
Capitalization / Revenue	2.48 x	-	1.15 x	1.2 x	0.77 x	0.58 x	0.6 x
EV / Revenue	2.48 x	-	1.15 x	1.2 x	0.77 x	0.58 x	0.6 x
EV / EBITDA	-	-	61.4 x	24.9 x	11.9 x	6.59 x	7.07 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	2.39 x	-	1.61 x	1.87 x	1.48 x	1.28 x	1.27 x
Nbr of stocks (in thousands)	88,000	88,000	86,444	86,094	86,789	-	-
Reference price ²	24.22	22.00	16.30	19.77	16.02	16.02	16.02
Announcement Date	25/02/21	25/02/22	11/04/23	29/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	860.3	-	1,220	1,415	1,825	2,437	2,353
EBITDA ¹	-	-	22.97	68.48	119	214.5	200
EBIT ¹	71.53	-	2.007	41.72	63	126	105
Operating Margin	8.31%	-	0.16%	2.95%	3.45%	5.17%	4.46%
Earnings before Tax (EBT) ¹	71.95	-	0.9116	41.03	63	125.5	104
Net income ¹	64.68	43.4	8.718	41.6	63	117.5	105
Net margin	7.52%	-	0.71%	2.94%	3.45%	4.82%	4.46%
EPS ²	0.8800	0.4900	0.1000	0.4800	0.7100	1.325	1.180
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	0.2000	0.2100	0.2200
Announcement Date	25/02/21	25/02/22	11/04/23	29/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	10%	-	0.96%	4.55%	6.5%	10.5%	9.4%
ROA (Net income/ Total Assets)	-	-	0.54%	2.36%	2.6%	3.86%	3.4%
Assets ¹	-	-	1,611	1,761	2,423	3,048	3,088
Book Value Per Share ²	10.10	-	10.10	10.60	10.80	12.50	12.60
Cash Flow per Share ²	-3.810	-	-3.800	-2.300	-2.080	-1.180	1.630
Capex ¹	-	-	102	-	211	114	11
Capex / Sales	-	-	8.34%	-	11.56%	4.66%	0.47%
Announcement Date	25/02/21	25/02/22	11/04/23	29/02/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

16.02 CNY

Average target price

24.85 CNY

Spread / Average Target

+55.12%

	1st Jan change	Capi.
HANGZHOU HUAGUANG ADVANCED WELDING MATERIALS CO.,LTD.	-18.97%	19Cr
VSMPO-AVISMA CORPORATION	-.--%	723.25Cr
ZHEJIANG HUAYOU COBALT CO., LTD	-10.42%	693.28Cr
CHINA RARE EARTH RESOURCES AND TECHNOLOGY CO., LTD.	+3.00%	418.79Cr
CHINA NONFERROUS MINING CORPORATION LIMITED	+69.59%	414.64Cr
YUNNAN COPPER CO.,LTD	+33.43%	403.12Cr
PANGANG GROUP VANADIUM & TITANIUM RESOURCES CO., LTD.	-5.79%	397.7Cr
WESTERN SUPERCONDUCTING TECHNOLOGIES CO., LTD.	-18.99%	387.9Cr
ZHE JIANG HAI LIANG CO., LTD	-19.10%	249.59Cr
SICHUAN HONGDA CO.,LTD	+30.60%	188.52Cr