Financials China Art Financial Holdings Limited

Equities

1572

KYG2120M1050

Corporate Financial Services

Market Closed - Hong Kong S.E. 09:08:09 16/05/2024 BST 5-day change 1st Jan Change
0.137 HKD +6.20% Intraday chart for China Art Financial Holdings Limited +5.38% +44.21%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 1,359 1,855 343.4 200.5 382.8 257.9
Enterprise Value (EV) 1 855.9 1,284 -239.5 -625.9 -327.1 -347
P/E ratio 8.48 x 13.5 x 3.15 x 4.57 x 15.1 x 17.7 x
Yield 2% 0.78% - - - -
Capitalization / Revenue 4.89 x 7.21 x 2.09 x 3.53 x 8.92 x 9.43 x
EV / Revenue 3.08 x 4.99 x -1.46 x -11 x -7.63 x -12.7 x
EV / EBITDA 3.83 x 6.48 x -1.72 x -13.9 x -11.2 x -17.3 x
EV / FCF 9.4 x 22 x 3.09 x -2.8 x 2.7 x 3.16 x
FCF Yield 10.6% 4.55% 32.4% -35.7% 37% 31.7%
Price to Book 1.89 x 2.24 x 0.34 x 0.19 x 0.35 x 0.24 x
Nbr of stocks (in thousands) 1,600,000 1,600,000 1,678,000 1,678,000 1,678,000 1,678,000
Reference price 2 0.8496 1.159 0.2047 0.1195 0.2281 0.1537
Announcement Date 17/04/18 17/04/19 23/04/20 30/04/21 26/04/22 27/04/23
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 278 257.2 164 56.74 42.9 27.34
EBITDA 1 223.7 198.1 139.2 44.93 29.17 20.02
EBIT 1 222.4 196.7 138.4 44.3 28.97 19.85
Operating Margin 80.02% 76.48% 84.43% 78.07% 67.53% 72.61%
Earnings before Tax (EBT) 1 221.3 194.9 147.4 57.69 35.05 21.94
Net income 1 160.6 137.3 107.5 43.9 25.36 14.6
Net margin 57.79% 53.38% 65.58% 77.38% 59.13% 53.39%
EPS 2 0.1002 0.0856 0.0650 0.0262 0.0151 0.008698
Free Cash Flow 1 91.07 58.45 -77.6 223.6 -121.1 -109.8
FCF margin 32.77% 22.72% -47.33% 394.08% -282.21% -401.82%
FCF Conversion (EBITDA) 40.72% 29.5% - 497.63% - -
FCF Conversion (Net income) 56.7% 42.57% - 509.3% - -
Dividend per Share 2 0.0170 0.009000 - - - -
Announcement Date 17/04/18 17/04/19 23/04/20 30/04/21 26/04/22 27/04/23
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 503 570 583 826 710 605
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 91.1 58.4 -77.6 224 -121 -110
ROE (net income / shareholders' equity) 24% 17.8% 11.7% 4.25% 2.38% 1.34%
ROA (Net income/ Total Assets) 14.7% 10.3% 7.24% 2.34% 1.61% 1.13%
Assets 1 1,096 1,331 1,485 1,873 1,576 1,295
Book Value Per Share 2 0.4500 0.5200 0.6000 0.6300 0.6400 0.6500
Cash Flow per Share 2 0.3300 0.3600 0.3500 0.4900 0.4300 0.3600
Capex 1 3.79 0.36 - 0.17 0.13 -
Capex / Sales 1.36% 0.14% - 0.3% 0.3% -
Announcement Date 17/04/18 17/04/19 23/04/20 30/04/21 26/04/22 27/04/23
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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