Stock 000488 SHANDONG CHENMING PAPER HOLDINGS LIMITED
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Financials Shandong Chenming Paper Holdings Limited

Equities

000488

CNE0000015H5

Paper Products

End-of-day quote Shenzhen S.E.
Other stock markets
 03:30:00 26/06/2024 am IST 		5-day change 1st Jan Change
3.52 CNY +3.53% Intraday chart for Shandong Chenming Paper Holdings Limited -0.85% -9.28%
26/04 Court Dismisses Chenming Paper's Appeal Against Winding-Up Stay MT
15/04 Shandong Chenming Paper Holdings Limited Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 12,391 14,075 15,710 10,935 8,358 7,623 - -
Enterprise Value (EV) 1 46,029 45,885 47,146 41,976 38,022 36,280 35,489 33,173
P/E ratio 15.4 x 17.8 x 12.9 x 166 x -8.62 x 70.4 x 16.8 x 11.7 x
Yield 2.95% 2.88% - - - - - -
Capitalization / Revenue 0.41 x 0.46 x 0.48 x 0.34 x 0.31 x 0.28 x 0.27 x 0.26 x
EV / Revenue 1.51 x 1.49 x 1.43 x 1.31 x 1.43 x 1.31 x 1.24 x 1.13 x
EV / EBITDA 6.73 x 11.7 x 6.77 x 9.72 x 21.1 x 19.4 x 19.8 x 19.2 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.59 x 1.02 x 1.13 x 0.82 x - 0.59 x 0.58 x 0.56 x
Nbr of stocks (in thousands) 29,04,608 29,04,608 29,04,608 29,00,142 28,77,213 28,77,213 - -
Reference price 2 5.090 6.420 7.240 4.980 3.880 3.520 3.520 3.520
Announcement Date 27/03/20 25/03/21 30/03/22 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 30,395 30,737 33,020 32,004 26,609 27,654 28,637 29,437
EBITDA 1 6,835 3,905 6,961 4,319 1,804 1,867 1,796 1,729
EBIT 1 1,584 1,585 4,543 2,001 -515.4 -193.6 -206.6 -218.1
Operating Margin 5.21% 5.16% 13.76% 6.25% -1.94% -0.7% -0.72% -0.74%
Earnings before Tax (EBT) 1 2,048 2,172 2,306 182.3 - 148.3 602.8 829.6
Net income 1 1,657 1,712 2,066 189.3 -1,281 143.5 610.2 880.5
Net margin 5.45% 5.57% 6.26% 0.59% -4.82% 0.52% 2.13% 2.99%
EPS 2 0.3300 0.3600 0.5600 0.0300 -0.4500 0.0500 0.2100 0.3000
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.1500 0.1850 - - - - - -
Announcement Date 27/03/20 25/03/21 30/03/22 30/03/23 28/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 17,047 13,600 17,137 17,173 15,847 16,676 15,328 12,565 14,044 13,187 13,193 13,197 13,321
EBITDA - - - - - - - - - - - - -
EBIT 1 - - - 2,324 1,072 284.5 1,716 -903.9 -403.7 -78.3 -115.3 -109.6 -96.97
Operating Margin - - - 13.53% 6.76% 1.71% 11.2% -7.19% -2.87% -0.59% -0.87% -0.83% -0.73%
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - -
EPS 2 0.3170 0.0510 0.3100 0.6040 -0.0440 0.0640 -0.0340 -0.2500 -0.2000 -0.1600 -0.1700 -0.1700 -0.1600
Dividend per Share - - - - - - - - - - - - -
Announcement Date 27/03/20 10/08/20 25/03/21 26/08/21 30/03/22 30/08/22 30/03/23 30/08/23 28/03/24 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 33,638 31,809 31,436 31,040 29,664 28,657 27,866 25,550
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.921 x 8.145 x 4.516 x 7.187 x 16.44 x 15.35 x 15.52 x 14.78 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 5.57% 5.84% 9.53% 0.55% - 0.82% 3.39% 4.69%
ROA (Net income/ Total Assets) 1.63% 1.81% 2.37% - - - - -
Assets 1 1,01,630 94,744 87,208 - - - - -
Book Value Per Share 2 8.670 6.300 6.400 6.070 - 5.940 6.090 6.340
Cash Flow per Share 2 4.210 3.770 2.880 1.160 - -0.2900 2.970 0.3700
Capex 975 122 415 653 - - - -
Capex / Sales 3.21% 0.4% 1.26% 2.04% - - - -
Announcement Date 27/03/20 25/03/21 30/03/22 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 Shandong Chenming Paper Holdings Limited

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
2
Last Close Price
3.52 CNY
Average target price
2.3 CNY
Spread / Average Target
-34.66%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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