Stock 603500 ZHEJIANG TIANTAI XIANGHE INDUSTRIAL CO.,LTD.
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Financials Zhejiang Tiantai Xianghe Industrial Co.,Ltd.

Equities

603500

CNE100002W01

Tires & Rubber Products

End-of-day quote Shanghai S.E.
Other stock markets
 03:30:00 26/04/2024 am IST 		5-day change 1st Jan Change
11.62 CNY -1.53% Intraday chart for Zhejiang Tiantai Xianghe Industrial Co.,Ltd. -1.02% -5.14%
19/04 Mainland China and Hong Kong stocks fall on Middle East tensions RE
28/03 Zhejiang Tiantai Xianghe Industrial Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,840 2,194 1,972 2,173 2,745 2,965
Enterprise Value (EV) 1 1,448 1,826 1,639 1,904 2,470 2,672
P/E ratio 22.2 x 24.9 x 35.4 x 34.7 x 42 x 45.4 x
Yield 1.92% 2.41% 1.77% 1.44% 1.15% 1.06%
Capitalization / Revenue 5.41 x 6.54 x 7.22 x 4.45 x 4.52 x 4.63 x
EV / Revenue 4.26 x 5.44 x 6 x 3.9 x 4.07 x 4.17 x
EV / EBITDA 15.1 x 18.4 x 24.3 x 22.7 x 26.3 x 24.6 x
EV / FCF 139 x -97 x 41.9 x -37.9 x 65.8 x 146 x
FCF Yield 0.72% -1.03% 2.39% -2.64% 1.52% 0.68%
Price to Book 2.18 x 2.45 x 2.31 x 2.48 x 3.07 x 3.28 x
Nbr of stocks (in thousands) 2,46,960 2,46,960 2,43,720 2,40,609 2,42,021 2,42,006
Reference price 2 7.450 8.886 8.093 9.030 11.34 12.25
Announcement Date 17/04/19 19/03/20 15/03/21 21/04/22 25/04/23 28/03/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 339.9 335.5 273.2 488.4 606.7 640.7
EBITDA 1 95.65 99.37 67.36 83.72 93.76 108.6
EBIT 1 84.49 87.38 55.27 63.24 67.87 81.9
Operating Margin 24.85% 26.04% 20.23% 12.95% 11.19% 12.78%
Earnings before Tax (EBT) 1 95.84 103.5 64.22 74.17 82.3 90.66
Net income 1 82.37 88.67 56.55 62.75 66.54 67.05
Net margin 24.23% 26.43% 20.7% 12.85% 10.97% 10.47%
EPS 2 0.3357 0.3571 0.2286 0.2600 0.2700 0.2700
Free Cash Flow 1 10.43 -18.83 39.11 -50.24 37.52 18.3
FCF margin 3.07% -5.61% 14.32% -10.29% 6.18% 2.86%
FCF Conversion (EBITDA) 10.9% - 58.07% - 40.01% 16.86%
FCF Conversion (Net income) 12.66% - 69.16% - 56.38% 27.3%
Dividend per Share 2 0.1429 0.2143 0.1429 0.1300 0.1300 0.1300
Announcement Date 17/04/19 19/03/20 15/03/21 21/04/22 25/04/23 28/03/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 392 368 333 269 274 293
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 10.4 -18.8 39.1 -50.2 37.5 18.3
ROE (net income / shareholders' equity) 10.1% 10.2% 6.38% 7.44% 8.01% 7.88%
ROA (Net income/ Total Assets) 5.91% 5.82% 3.59% 3.86% 3.79% 4.31%
Assets 1 1,393 1,525 1,574 1,626 1,756 1,557
Book Value Per Share 2 3.410 3.630 3.510 3.640 3.700 3.740
Cash Flow per Share 2 0.8200 1.090 1.170 1.210 1.300 1.180
Capex 1 62.4 67.4 43.9 69 9.88 26.8
Capex / Sales 18.36% 20.09% 16.07% 14.14% 1.63% 4.19%
Announcement Date 17/04/19 19/03/20 15/03/21 21/04/22 25/04/23 28/03/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Tires & Rubber Products

1st Jan change Capi.
ZHEJIANG TIANTAI XIANGHE INDUSTRIAL CO.,LTD. Stock Zhejiang Tiantai Xianghe Industrial Co.,Ltd.
-5.14% 388M
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TOYO TIRE CORPORATION Stock Toyo Tire Corporation
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