CHINA GENERAL PLASTICS CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 18.3 TWD | -1.08% |
|
+0.55% | -17.94% |
| 03-13 | China General Plastics Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| 03-05 | China General Plastics Corporation Announces Change of President | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 10,962 | 14,084 | 21,171 | 16,107 | 13,605 | 11,165 | - |
| Enterprise Value (EV) 1 | 9,981 | 11,746 | 20,062 | 16,053 | 16,781 | 14,030 | 14,243 |
| P/E ratio | 17 x | 8.63 x | 8.18 x | -41.3 x | 37.8 x | 40.1 x | 17.9 x |
| Yield | 2.4% | 7.07% | 7.2% | 1.14% | 1.57% | 3.83% | - |
| Capitalization / Revenue | 0.73 x | 1.03 x | 1.05 x | 0.91 x | 0.99 x | 0.84 x | 0.79 x |
| EV / Revenue | 0.66 x | 0.86 x | 0.99 x | 0.91 x | 1.22 x | 1.06 x | 1.01 x |
| EV / EBITDA | 7.07 x | 4.12 x | 4.99 x | -59.7 x | 13.6 x | 7.74 x | 6.2 x |
| EV / FCF | 9.36 x | 12.3 x | 38.2 x | -25.1 x | -41.9 x | 30 x | 32.6 x |
| FCF Yield | 10.7% | 8.13% | 2.62% | -3.99% | -2.38% | 3.33% | 3.07% |
| Price to Book | 1.33 x | 1.45 x | 1.81 x | 1.62 x | 1.35 x | 1.09 x | 1.13 x |
| Nbr of stocks (in thousands) | 581,050 | 581,050 | 610,103 | 610,103 | 610,103 | 610,103 | - |
| Reference price 2 | 18.87 | 24.24 | 34.70 | 26.40 | 22.30 | 18.30 | 18.30 |
| Announcement Date | 19/03/20 | 04/03/21 | 10/03/22 | 14/03/23 | 13/03/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 15,118 | 13,733 | 20,222 | 17,637 | 13,707 | 13,255 | 14,066 |
| EBITDA 1 | 1,412 | 2,848 | 4,022 | -269 | 1,231 | 1,812 | 2,296 |
| EBIT 1 | 773.9 | 2,154 | 3,317 | -984.5 | 459.9 | 265.7 | 820.5 |
| Operating Margin | 5.12% | 15.68% | 16.4% | -5.58% | 3.35% | 2% | 5.83% |
| Earnings before Tax (EBT) 1 | 854 | 2,161 | 3,307 | -517.2 | 466.5 | 352 | 861 |
| Net income 1 | 642.7 | 1,634 | 2,469 | -370.2 | 341.9 | 265.3 | 590.5 |
| Net margin | 4.25% | 11.9% | 12.21% | -2.1% | 2.49% | 2% | 4.2% |
| EPS 2 | 1.107 | 2.810 | 4.240 | -0.6400 | 0.5900 | 0.4567 | 1.020 |
| Free Cash Flow 1 | 1,066 | 955.1 | 524.7 | -640.5 | -400.1 | 467 | 437 |
| FCF margin | 7.05% | 6.95% | 2.59% | -3.63% | -2.92% | 3.52% | 3.11% |
| FCF Conversion (EBITDA) | 75.51% | 33.53% | 13.05% | - | - | 25.78% | 19.03% |
| FCF Conversion (Net income) | 165.91% | 58.45% | 21.26% | - | - | 176.01% | 74.01% |
| Dividend per Share 2 | 0.4535 | 1.714 | 2.500 | 0.3000 | 0.3500 | 0.7000 | - |
| Announcement Date | 19/03/20 | 04/03/21 | 10/03/22 | 14/03/23 | 13/03/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,545 | 5,122 | 5,307 | 4,840 | 3,984 | 3,507 | 3,780 | 3,340 | 3,366 | 3,222 | 3,060 | 3,320 | 3,335 | 3,540 | 3,640 |
| EBITDA 1 | - | 959.7 | - | - | - | - | 557.3 | 191.1 | 338.8 | 143.9 | 146 | 298 | 691 | 644 | - |
| EBIT 1 | 596.5 | 783.2 | 242.2 | -179.6 | -973.4 | -73.65 | 377.6 | 3.605 | 143.4 | -64.8 | -38 | 114.5 | 192.8 | 182.8 | 418 |
| Operating Margin | 10.76% | 15.29% | 4.56% | -3.71% | -24.43% | -2.1% | 9.99% | 0.11% | 4.26% | -2.01% | -1.24% | 3.45% | 5.78% | 5.16% | 11.48% |
| Earnings before Tax (EBT) 1 | 633.6 | 815.9 | 564.1 | -110.3 | -887.7 | -83.28 | 359.6 | 34.18 | 187.9 | -115.2 | -15.25 | 129 | 217.8 | 195.5 | 417 |
| Net income 1 | 494.7 | 600.6 | 450.8 | -87.85 | -680.9 | -52.35 | 232.4 | 0.691 | 147.4 | -38.53 | -11 | 84.5 | 166.2 | 150.5 | 285 |
| Net margin | 8.92% | 11.73% | 8.49% | -1.82% | -17.09% | -1.49% | 6.15% | 0.02% | 4.38% | -1.2% | -0.36% | 2.55% | 4.99% | 4.25% | 7.83% |
| EPS 2 | 0.8500 | 1.030 | 0.7700 | -0.1500 | -1.170 | -0.0900 | 0.4000 | - | 0.2500 | -0.0600 | -0.0175 | 0.1475 | 0.2850 | 0.2575 | 0.4900 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 04/11/21 | 10/03/22 | 10/05/22 | 04/08/22 | 04/11/22 | 14/03/23 | 10/05/23 | 01/08/23 | 08/11/23 | 13/03/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | 3,176 | 2,865 | 3,078 |
| Net Cash position 1 | 981 | 2,338 | 1,109 | 53.7 | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | 2.58 x | 1.582 x | 1.341 x |
| Free Cash Flow 1 | 1,066 | 955 | 525 | -641 | -400 | 467 | 437 |
| ROE (net income / shareholders' equity) | 7.73% | 18.2% | 23.7% | -3.59% | 3.59% | 0.85% | 5.07% |
| ROA (Net income/ Total Assets) | 5.03% | 12.5% | 16% | -2.2% | 1.99% | 0.55% | 3.37% |
| Assets 1 | 12,777 | 13,112 | 15,434 | 16,829 | 17,217 | 48,242 | 17,548 |
| Book Value Per Share 2 | 14.20 | 16.70 | 19.20 | 16.30 | 16.50 | 16.80 | 16.20 |
| Cash Flow per Share 2 | 3.470 | 3.590 | 3.790 | 1.410 | 1.760 | 2.420 | - |
| Capex 1 | 956 | 1,133 | 1,682 | 1,457 | 1,421 | 1,006 | 1,106 |
| Capex / Sales | 6.32% | 8.25% | 8.32% | 8.26% | 10.37% | 7.59% | 7.86% |
| Announcement Date | 19/03/20 | 04/03/21 | 10/03/22 | 14/03/23 | 13/03/24 | - | - |
1TWD in Million2TWD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
18.3
TWD
Average target price
21.25
TWD
Spread / Average Target
+16.12%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -17.94% | 342M | |
| +4.36% | 40.01B | |
| -19.34% | 22.02B | |
| -13.51% | 13.37B | |
| -10.91% | 9.95B | |
| -10.82% | 9.48B | |
| +11.43% | 7.7B | |
| +12.15% | 7B | |
| -26.77% | 5.56B | |
| -29.83% | 3.28B |
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