Financials Zhejiang Taihua New Material Co.,Ltd

Equities

603055

CNE100002VM2

Textiles & Leather Goods

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 26/04/2024 am IST			5-day change	1st Jan Change
10.35 ^CNY	0.00%		+2.78%	-14.04%

08/04	Zhejiang Taihua New Material Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI
02/04	Tranche Update on Zhejiang Taihua New Material Co.,Ltd's Equity Buyback Plan announced on March 22, 2024.	CI

Valuation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,022	13,034	8,377	10,025	8,618	-	-
Enterprise Value (EV) ¹	5,022	13,034	8,377	10,025	8,618	8,618	8,618
P/E ratio	37.9 x	29.8 x	32.6 x	24.1 x	15.6 x	11.1 x	10.4 x
Yield	-	1.06%	0.99%	1.33%	2.39%	2.8%	-
Capitalization / Revenue	-	3.06 x	2.09 x	1.97 x	1.4 x	1.2 x	0.98 x
EV / Revenue	-	3.06 x	2.09 x	1.97 x	1.4 x	1.2 x	0.98 x
EV / EBITDA	-	15.9 x	13.3 x	12 x	7.18 x	5.73 x	5.42 x
EV / FCF	-	-84.6 x	-15.9 x	-6.84 x	49.2 x	20.3 x	-
FCF Yield	-	-1.18%	-6.27%	-14.6%	2.03%	4.92%	-
Price to Book	-	3.79 x	2.24 x	2.44 x	1.91 x	1.67 x	1.52 x
Nbr of stocks (in thousands)	8,28,786	8,11,061	8,29,397	8,32,657	8,32,663	-	-
Reference price ²	6.060	16.07	10.10	12.04	10.35	10.35	10.35
Announcement Date	26/03/21	11/03/22	10/04/23	08/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	4,257	4,009	5,094	6,139	7,160	8,750
EBITDA ¹	-	820.8	630.1	833.7	1,201	1,505	1,591
EBIT ¹	-	518.2	299.4	481.1	649.5	908.9	963.7
Operating Margin	-	12.17%	7.47%	9.45%	10.58%	12.69%	11.01%
Earnings before Tax (EBT) ¹	-	516.5	291.6	480.5	646.3	905.9	961.3
Net income ¹	119.7	463.7	268.7	449.1	594.3	834.5	888.2
Net margin	-	10.89%	6.7%	8.82%	9.68%	11.65%	10.15%
EPS ²	0.1600	0.5400	0.3100	0.5000	0.6650	0.9350	0.9950
Free Cash Flow ¹	-	-154	-525.6	-1,465	175	424	-
FCF margin	-	-3.62%	-13.11%	-28.76%	2.85%	5.92%	-
FCF Conversion (EBITDA)	-	-	-	-	14.57%	28.17%	-
FCF Conversion (Net income)	-	-	-	-	29.45%	50.81%	-
Dividend per Share ²	-	0.1700	0.1000	0.1600	0.2475	0.2900	-
Announcement Date	26/03/21	11/03/22	10/04/23	08/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 S1
Net sales ¹	2,197
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income	-
Net margin	-
EPS	-
Dividend per Share	-
Announcement Date	21/08/23

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-154	-526	-1,465	175	424	-
ROE (net income / shareholders' equity)	-	14.2%	7.03%	10.5%	12.4%	15.3%	14.6%
ROA (Net income/ Total Assets)	-	7.82%	3.83%	-	5.7%	6.91%	6.7%
Assets ¹	-	5,933	7,007	-	10,426	12,085	13,257
Book Value Per Share ²	-	4.240	4.510	4.930	5.410	6.180	6.830
Cash Flow per Share ²	-	0.4100	0.6700	0.3400	0.9900	1.310	1.450
Capex ¹	-	501	1,121	1,768	923	1,073	1,026
Capex / Sales	-	11.78%	27.96%	34.71%	15.04%	14.99%	11.73%
Announcement Date	26/03/21	11/03/22	10/04/23	08/04/24	-	-	-

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 Zhejiang Taihua New Material Co.,Ltd

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.35 CNY

Average target price

13.37 CNY

Spread / Average Target

+29.15%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Yarn Goods

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ZHEJIANG TAIHUA NEW MATERIAL CO.,LTD	-14.04%	1.19B
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BROS EASTERN.,LTD	+15.81%	1.15B
HUAFU FASHION CO., LTD.	+6.05%	1.03B
TAINAN SPINNING CO., LTD.	+25.95%	1.01B
ZHEJIANG XINAO TEXTILES INC.	+3.09%	740M
THE JAPAN WOOL TEXTILE CO., LTD.	0.00%	588M
ZHEWEN PICTURES GROUP CO.,LTD	-18.82%	553M
TEXHONG INTERNATIONAL GROUP LIMITED	-1.83%	504M

Yarn Goods