Financials Shenzhen Zhongheng Huafa Co., Ltd. Shenzhen S.E.

Equities

200020

CNE000000313

Electronic Equipment & Parts

End-of-day quote Shenzhen S.E. 03:30:00 17/05/2024 am IST 5-day change 1st Jan Change
2.46 HKD +0.82% Intraday chart for Shenzhen Zhongheng Huafa Co., Ltd. -0.40% -11.19%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,313 2,313 2,072 1,906 1,869 2,603
Enterprise Value (EV) 1 2,446 2,385 2,127 1,961 1,843 2,493
P/E ratio 902 x 553 x 415 x 361 x 249 x 275 x
Yield - - - - - -
Capitalization / Revenue 3.63 x 3.21 x 3 x 2.49 x 2.81 x 3.58 x
EV / Revenue 3.84 x 3.31 x 3.07 x 2.56 x 2.77 x 3.43 x
EV / EBITDA 93.4 x 76.8 x 62.4 x 58.7 x 56.4 x 77 x
EV / FCF -113 x 34.6 x 124 x 931 x 25.6 x 33 x
FCF Yield -0.88% 2.89% 0.81% 0.11% 3.91% 3.03%
Price to Book 9.14 x 9.17 x 8.41 x 7.55 x 7.15 x 9.99 x
Nbr of stocks (in thousands) 2,83,161 2,83,161 2,83,161 2,83,161 2,83,161 2,83,161
Reference price 2 10.46 10.67 9.990 9.160 8.930 12.95
Announcement Date 29/04/19 29/04/20 26/04/21 25/04/22 25/04/23 22/04/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 637 721.6 691.7 765.6 664.4 726.5
EBITDA 1 26.17 31.06 34.07 33.43 32.66 32.36
EBIT 1 13.09 17.36 18.07 18.4 12.96 21.57
Operating Margin 2.06% 2.41% 2.61% 2.4% 1.95% 2.97%
Earnings before Tax (EBT) 1 4.592 7.751 8.817 11.95 15.32 18.43
Net income 1 3.295 5.46 6.83 7.202 10.13 13.34
Net margin 0.52% 0.76% 0.99% 0.94% 1.52% 1.84%
EPS 2 0.0116 0.0193 0.0241 0.0254 0.0358 0.0471
Free Cash Flow 1 -21.57 68.88 17.2 2.107 71.99 75.5
FCF margin -3.39% 9.55% 2.49% 0.28% 10.83% 10.39%
FCF Conversion (EBITDA) - 221.78% 50.5% 6.3% 220.42% 233.34%
FCF Conversion (Net income) - 1,261.61% 251.87% 29.25% 710.82% 565.87%
Dividend per Share - - - - - -
Announcement Date 29/04/19 29/04/20 26/04/21 25/04/22 25/04/23 22/04/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 132 71.5 55.2 54.9 - -
Net Cash position 1 - - - - 25.7 110
Leverage (Debt/EBITDA) 5.058 x 2.303 x 1.622 x 1.642 x - -
Free Cash Flow 1 -21.6 68.9 17.2 2.11 72 75.5
ROE (net income / shareholders' equity) 1.02% 1.67% 2.05% 2.12% 2.91% 3.7%
ROA (Net income/ Total Assets) 1.31% 1.76% 1.82% 1.79% 1.28% 2.29%
Assets 1 251.1 309.7 375.6 403.2 793.5 583.6
Book Value Per Share 2 1.140 1.160 1.190 1.210 1.250 1.300
Cash Flow per Share 2 0.1000 0.1300 0.1100 0.1200 0.2600 0.3900
Capex 1 15.1 3.29 5.47 6.58 3.12 1.51
Capex / Sales 2.36% 0.46% 0.79% 0.86% 0.47% 0.21%
Announcement Date 29/04/19 29/04/20 26/04/21 25/04/22 25/04/23 22/04/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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