Financials FangDa Carbon New Material Co.,Ltd

Equities

600516

CNE000001CC6

Electrical Components & Equipment

End-of-day quote Shanghai S.E. Other stock markets 23:00:00 28/04/2024 BST			5-day change	1st Jan Change
5.11 ^CNY	+4.07%		+4.07%	-2.48%

04-24	Chinese Nuclear Safety Watchdog Gives Nuclear Safety Equipment Production License to Fangda Carbon New Material's Unit	MT
04-02	Tranche Update on FangDa Carbon New Material Co.,Ltd's Equity Buyback Plan announced on August 28, 2023.	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	33,058	26,908	41,181	23,293	21,045	20,325	-
Enterprise Value (EV) ¹	24,003	21,588	34,076	20,974	15,928	13,398	12,419
P/E ratio	16.2 x	50.5 x	37.3 x	27.8 x	47.6 x	20 x	14.7 x
Yield	-	7.07%	-	-	-	0.41%	1.05%
Capitalization / Revenue	4.9 x	7.6 x	8.85 x	4.38 x	4.1 x	3.08 x	2.39 x
EV / Revenue	3.56 x	6.1 x	7.33 x	3.94 x	3.1 x	2.03 x	1.46 x
EV / EBITDA	9.38 x	45.1 x	21.5 x	21 x	19.2 x	10.4 x	6.42 x
EV / FCF	5,476,361 x	-	-180,144,898 x	-	-	-	-
FCF Yield	0%	-	-0%	-	-	-	-
Price to Book	2.2 x	1.73 x	2.79 x	1.49 x	1.24 x	1.07 x	1.02 x
Nbr of stocks (in thousands)	3,805,970	3,805,970	3,805,970	3,805,970	4,016,296	3,977,524	-
Reference price ²	8.686	7.070	10.82	6.120	5.240	4.910	4.910
Announcement Date	17/04/20	14/04/21	15/03/22	07/03/23	01/04/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	6,751	3,539	4,652	5,320	5,132	6,604	8,499
EBITDA ¹	2,559	478.6	1,587	999.9	828	1,293	1,935
EBIT ¹	2,371	287.6	1,349	1,164	518.8	1,019	1,632
Operating Margin	35.12%	8.13%	29%	21.88%	10.11%	15.42%	19.2%
Earnings before Tax (EBT) ¹	2,345	660.9	1,331	1,152	512.1	1,118	1,713
Net income ¹	2,016	547.5	1,085	839.9	416.2	987.8	1,328
Net margin	29.87%	15.47%	23.32%	15.79%	8.11%	14.96%	15.63%
EPS ²	0.5357	0.1400	0.2900	0.2200	0.1100	0.2450	0.3340
Free Cash Flow	4,383	-	-189.2	-	-	-	-
FCF margin	64.92%	-	-4.07%	-	-	-	-
FCF Conversion (EBITDA)	171.26%	-	-	-	-	-	-
FCF Conversion (Net income)	217.39%	-	-	-	-	-	-
Dividend per Share ²	-	0.5000	-	-	-	0.0200	0.0518
Announcement Date	17/04/20	14/04/21	15/03/22	07/03/23	01/04/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2023 Q1	2023 Q2	2023 Q3
Net sales ¹	-	-	-	-	-	-	-	1,275	1,257
EBITDA	-	-	-	-	-	-	-	-	-
EBIT ¹	-	-	-	-	-	-	-	-	105
Operating Margin	-	-	-	-	-	-	-	-	8.36%
Earnings before Tax (EBT) ¹	-	-	-	-	-	-	-	74.84	136.1
Net income ¹	198.5	-	-	-	-	-	221.4	59.44	103.4
Net margin	-	-	-	-	-	-	-	4.66%	8.23%
EPS ²	0.0521	-	-	-	-	-	0.0550	0.0167	0.0300
Dividend per Share	-	-	-	-	-	-	-	-	-
Announcement Date	28/08/20	15/12/21	15/03/22	07/06/22	07/09/22	07/12/22	26/04/23	28/08/23	31/10/23

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	-	-
Net Cash position ¹	9,055	5,320	7,104	2,319	5,117	6,927	7,907
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	4,383	-	-189	-	-	-	-
ROE (net income / shareholders' equity)	14.7%	3.58%	7.15%	5.53%	2.48%	5.57%	6.96%
ROA (Net income/ Total Assets)	11.7%	-	-	4.34%	-	5.87%	7.03%
Assets ¹	17,284	-	-	19,339	-	16,828	18,896
Book Value Per Share ²	3.950	4.090	3.880	4.120	4.240	4.580	4.820
Cash Flow per Share ²	-	-	-	0.0600	0.2100	0.3400	0.4700
Capex ¹	85.8	139	151	78.2	130	363	378
Capex / Sales	1.27%	3.94%	3.25%	1.47%	2.53%	5.5%	4.45%
Announcement Date	17/04/20	14/04/21	15/03/22	07/03/23	01/04/24	-	-

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 FangDa Carbon New Material Co.,Ltd

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5.11 CNY

Average target price

7.957 CNY

Spread / Average Target

+55.71%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electrical Component

	1st Jan change	Capi.
FANGDA CARBON NEW MATERIAL CO.,LTD	-2.48%	2.7B
TE CONNECTIVITY LTD.	+1.21%	42.94B
FUJIKURA LTD.	+148.96%	4.73B
XIAMEN FARATRONIC CO., LTD.	+6.89%	2.92B
MPI CORPORATION	+98.16%	1.16B
ACBEL POLYTECH INC.	-2.92%	1.04B
BEIJING YUANLIU HONGYUAN ELECTRONIC TECHNOLOGY CO., LTD.	-31.00%	1.04B
TOYO TANSO CO., LTD.	+61.96%	1.03B
NINGBO SUNRISE ELC TECHNOLOGY CO.,LTD	-15.04%	900M
JIANGSU LETTALL ELECTRONIC CO.,LTD	-20.06%	869M

Electrical Component