Financials CETC Chips Technology Inc.

Equities

600877

CNE000000J77

Semiconductors

End-of-day quote Shanghai S.E. 23:00:00 20/06/2024 BST 5-day change 1st Jan Change
11.16 CNY 0.00% Intraday chart for CETC Chips Technology Inc. -3.38% -20.23%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,271 4,777 7,079 18,544 16,176 16,566
Enterprise Value (EV) 1 3,652 4,686 6,917 17,778 15,332 15,617
P/E ratio -16.7 x 48.4 x 86.1 x 97.9 x 71.9 x 70 x
Yield - - - - - -
Capitalization / Revenue 9.05 x 13.7 x 17.6 x 11.2 x 10.3 x 10.9 x
EV / Revenue 10.1 x 13.4 x 17.2 x 10.7 x 9.8 x 10.2 x
EV / EBITDA -18.9 x 45.9 x 66.1 x 72.9 x 71.6 x 64 x
EV / FCF -7.09 x 147 x 170 x 132 x 956 x 4,749 x
FCF Yield -14.1% 0.68% 0.59% 0.76% 0.1% 0.02%
Price to Book -17 x 14.8 x 17.4 x 9.57 x 7.49 x 6.92 x
Nbr of stocks (in thousands) 687,282 822,162 822,162 1,184,167 1,184,167 1,184,167
Reference price 2 4.760 5.810 8.610 15.66 13.66 13.99
Announcement Date 24/03/19 10/04/20 23/04/21 14/04/22 20/04/23 25/04/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 361.6 348.5 402.3 1,655 1,565 1,524
EBITDA 1 -192.9 102.1 104.6 243.8 214.1 244
EBIT 1 -228.4 92.84 95.81 218.8 188.1 211.2
Operating Margin -63.16% 26.64% 23.81% 13.22% 12.02% 13.85%
Earnings before Tax (EBT) 1 -197.3 93.54 96.58 249.9 231.8 247.6
Net income 1 -195.5 79.74 80.51 139 223.1 234
Net margin -54.05% 22.88% 20.01% 8.4% 14.26% 15.36%
EPS 2 -0.2844 0.1200 0.1000 0.1600 0.1900 0.2000
Free Cash Flow 1 -515.4 31.81 40.69 135.1 16.05 3.289
FCF margin -142.52% 9.13% 10.11% 8.17% 1.03% 0.22%
FCF Conversion (EBITDA) - 31.16% 38.89% 55.43% 7.49% 1.35%
FCF Conversion (Net income) - 39.89% 50.54% 97.2% 7.19% 1.41%
Dividend per Share - - - - - -
Announcement Date 24/03/19 10/04/20 23/04/21 14/04/22 20/04/23 25/04/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 Q2 2022 Q3 2022 Q4
Net sales 1 - 419.6 338.1 532.7
EBITDA - - - -
EBIT 1 - 46.88 40.34 110.1
Operating Margin - 11.17% 11.93% 20.67%
Earnings before Tax (EBT) 1 - 46.95 40.36 109.5
Net income 1 31.53 46.02 41.85 103.7
Net margin - 10.97% 12.38% 19.48%
EPS 0.0266 - - -
Dividend per Share - - - -
Announcement Date 27/04/22 17/08/22 27/10/22 20/04/23
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 381 - - - - -
Net Cash position 1 - 90.4 162 766 844 950
Leverage (Debt/EBITDA) -1.973 x - - - - -
Free Cash Flow 1 -515 31.8 40.7 135 16 3.29
ROE (net income / shareholders' equity) 195% 27% 22.3% 13% 10.9% 10.3%
ROA (Net income/ Total Assets) -10.9% 12.3% 10.1% 5.75% 4.34% 4.45%
Assets 1 1,800 646.5 796.5 2,418 5,146 5,254
Book Value Per Share 2 -0.2800 0.3900 0.4900 1.640 1.820 2.020
Cash Flow per Share 2 0.1700 0.1200 0.2000 0.7900 0.4000 0.8400
Capex 1 0.83 4.32 7.15 20.7 15.5 180
Capex / Sales 0.23% 1.24% 1.78% 1.25% 0.99% 11.8%
Announcement Date 24/03/19 10/04/20 23/04/21 14/04/22 20/04/23 25/04/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly revenue - Rate of surprise

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