Financials Jinhe Biotechnology CO., LTD.

Equities

002688

CNE100001HK7

Pharmaceuticals

End-of-day quote Shenzhen S.E. 23:00:00 09/05/2024 BST 5-day change 1st Jan Change
4.65 CNY -2.31% Intraday chart for Jinhe Biotechnology CO., LTD. +8.64% -3.33%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,833 3,996 3,488 4,784 3,874 3,626
Enterprise Value (EV) 1 3,541 4,830 4,506 5,274 4,985 5,317
P/E ratio 17.2 x 21.7 x 30.5 x 43.8 x 53.1 x 43.4 x
Yield 5.61% 3.97% 1.82% - 1.95% 2.08%
Capitalization / Revenue 1.74 x 2.24 x 1.92 x 2.3 x 1.83 x 1.67 x
EV / Revenue 2.17 x 2.71 x 2.48 x 2.54 x 2.35 x 2.45 x
EV / EBITDA 11.7 x 14.2 x 13.6 x 15.8 x 17.7 x 16.6 x
EV / FCF -29 x 176 x -58.8 x -17.9 x -27.3 x -19.3 x
FCF Yield -3.45% 0.57% -1.7% -5.58% -3.66% -5.17%
Price to Book 1.69 x 2.38 x 2.16 x 1.96 x 1.74 x 1.61 x
Nbr of stocks (in thousands) 635,290 635,290 635,290 780,422 753,752 753,752
Reference price 2 4.460 6.290 5.490 6.130 5.140 4.810
Announcement Date 28/03/19 19/04/20 30/03/21 21/04/22 21/04/23 28/04/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,629 1,782 1,815 2,078 2,123 2,174
EBITDA 1 301.6 340.1 330.7 333.8 282.1 321
EBIT 1 215.4 240.8 210.9 203 133.1 148.4
Operating Margin 13.22% 13.51% 11.62% 9.77% 6.27% 6.83%
Earnings before Tax (EBT) 1 194.5 220.2 140.9 142.9 118.8 101.5
Net income 1 163.6 184.9 117.3 93.99 75.54 86.46
Net margin 10.05% 10.38% 6.47% 4.52% 3.56% 3.98%
EPS 2 0.2600 0.2900 0.1800 0.1400 0.0968 0.1108
Free Cash Flow 1 -122 27.49 -76.67 -294.4 -182.3 -274.9
FCF margin -7.49% 1.54% -4.22% -14.17% -8.59% -12.65%
FCF Conversion (EBITDA) - 8.08% - - - -
FCF Conversion (Net income) - 14.87% - - - -
Dividend per Share 2 0.2500 0.2500 0.1000 - 0.1000 0.1000
Announcement Date 28/03/19 19/04/20 30/03/21 21/04/22 21/04/23 28/04/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 708 834 1,019 490 1,110 1,691
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 2.346 x 2.453 x 3.08 x 1.469 x 3.937 x 5.268 x
Free Cash Flow 1 -122 27.5 -76.7 -294 -182 -275
ROE (net income / shareholders' equity) 9.62% 10.6% 7.83% 5.49% 4.61% 3.82%
ROA (Net income/ Total Assets) 4.28% 4.51% 3.92% 3.41% 1.94% 1.86%
Assets 1 3,826 4,103 2,991 2,756 3,891 4,642
Book Value Per Share 2 2.640 2.640 2.540 3.120 2.950 2.980
Cash Flow per Share 2 0.7700 0.5700 0.5000 0.6600 0.6500 0.8100
Capex 1 170 179 204 384 402 457
Capex / Sales 10.45% 10.03% 11.24% 18.47% 18.95% 21.03%
Announcement Date 28/03/19 19/04/20 30/03/21 21/04/22 21/04/23 28/04/24
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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