Stock 601688 HUATAI SECURITIES CO., LTD.
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Financials Huatai Securities Co., Ltd.

Equities

601688

CNE100000LQ8

Investment Banking & Brokerage Services

End-of-day quote Shanghai S.E.
Other stock markets
 03:30:00 26/04/2024 am IST 		5-day change 1st Jan Change
14.24 CNY +6.99% Intraday chart for Huatai Securities Co., Ltd. +5.33% +2.08%
26/04 News Highlights : Top Financial Services News of the Day - Friday at 4 PM ET DJ
26/04 News Highlights : Top Financial Services News of the Day - Friday at 11 AM ET DJ

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,70,609 1,48,583 1,47,237 1,06,145 1,16,730 1,18,006 - -
Enterprise Value (EV) 1 2,41,800 2,57,412 3,08,470 1,06,145 2,87,811 3,20,042 1,18,006 1,18,006
P/E ratio 19.7 x 15.1 x 12.2 x 11 x 10.5 x 9.74 x 8.74 x 8.28 x
Yield 1.48% 2.22% 2.53% 3.53% 3.08% 3.3% 3.84% 3.79%
Capitalization / Revenue 6.86 x 4.73 x 3.88 x 2.6 x 2.58 x 3.12 x 2.74 x 2.71 x
EV / Revenue 9.73 x 8.19 x 8.14 x 2.6 x 6.36 x 8.47 x 2.74 x 2.71 x
EV / EBITDA - 1,77,91,935 x - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.5 x 1.27 x 1.09 x 0.7 x 0.82 x 0.76 x 0.72 x 0.66 x
Nbr of stocks (in thousands) 90,76,650 89,88,559 89,85,884 89,84,823 89,83,897 89,36,536 - -
Reference price 2 20.31 18.01 17.76 12.74 13.95 14.24 14.24 14.24
Announcement Date 30/03/20 23/03/21 27/03/22 30/03/23 28/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 24,863 31,445 37,905 40,752 45,227 37,782 43,040 43,594
EBITDA - 14,468 - - - - - -
EBIT 1 11,608 13,501 16,339 11,009 11,620 14,361 16,944 17,724
Operating Margin 46.69% 42.94% 43.1% 27.01% 25.69% 38.01% 39.37% 40.66%
Earnings before Tax (EBT) 1 11,586 13,504 16,273 12,228 14,205 14,992 17,678 17,728
Net income 1 9,002 10,822 13,346 11,053 12,751 13,365 15,315 15,614
Net margin 36.2% 34.42% 35.21% 27.12% 28.19% 35.37% 35.58% 35.82%
EPS 2 1.030 1.190 1.460 1.160 1.330 1.462 1.630 1.719
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.3000 0.4000 0.4500 0.4500 0.4300 0.4700 0.5473 0.5395
Announcement Date 30/03/20 23/03/21 27/03/22 30/03/23 28/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 14,609 - 10,999 7,244 8,922 7,452 17,134 8,993 9,376 18,369 8,860 17,997 9,900 - - - -
EBITDA - - - - - - - - - - - - - - - - -
EBIT - - - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - 1,888 - 4,013 - - 4,200 - - 3,220 - - - - - -
Net income 1 - 3,278 2,298 2,214 3,161 - - 3,245 - - 3,030 3,165 3,500 - - - -
Net margin - - 20.89% 30.57% 35.43% - - 36.08% - - 34.2% 17.59% 35.35% - - - -
EPS 2 - 0.3500 0.2400 0.2400 0.3200 0.2600 0.3400 0.3500 0.3500 0.7000 0.3100 0.3300 0.3500 0.3500 0.3500 0.3500 0.5679
Dividend per Share - - 0.4500 - - - - - - - - - - - - - -
Announcement Date 26/08/20 29/10/21 27/03/22 29/04/22 30/08/22 28/10/22 30/03/23 28/04/23 14/08/23 14/08/23 30/10/23 28/03/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 71,191 1,08,828 1,61,233 - 1,71,081 2,02,037 - -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - 7.522 x - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 7.94% 8.61% 9.62% 7.49% 8.12% 7.53% 8.18% 7.82%
ROA (Net income/ Total Assets) 1.93% 1.69% 1.75% - 1.46% 1.46% 1.55% 1.51%
Assets 1 4,65,442 6,39,627 7,61,721 - 8,76,037 9,16,404 9,87,465 10,33,095
Book Value Per Share 2 13.50 14.20 16.40 18.20 16.90 18.80 19.80 21.50
Cash Flow per Share 2.250 2.870 -4.970 7.400 - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 30/03/20 23/03/21 27/03/22 30/03/23 28/03/24 - - -
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 Huatai Securities Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
17
Last Close Price
14.24 CNY
Average target price
18.09 CNY
Spread / Average Target
+27.04%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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