Financials Shandong Weigao Group Medical Polymer Company Limited

Equities

1066

CNE100000171

Medical Equipment, Supplies & Distribution

Market Closed - Hong Kong S.E. 09:08:20 26/04/2024 BST 5-day change 1st Jan Change
5.1 HKD +0.99% Intraday chart for Shandong Weigao Group Medical Polymer Company Limited +7.14% -32.98%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 25,176 37,747 66,685 35,854 51,750 21,578 21,578 -
Enterprise Value (EV) 1 26,702 39,027 65,022 32,830 48,884 31,614 14,831 13,851
P/E ratio 16.9 x 20.3 x 32.8 x 15.9 x 18.9 x 15.7 x 9.72 x 8.09 x
Yield 1.81% 1.33% 0.88% 1.79% 1.46% 2.75% 3.25% 3.55%
Capitalization / Revenue 2.86 x 3.64 x 5.88 x 2.73 x 3.8 x 2.39 x 1.53 x 1.35 x
EV / Revenue 3.03 x 3.77 x 5.73 x 2.5 x 3.59 x 2.39 x 1.05 x 0.87 x
EV / EBITDA 11.8 x 13.3 x 21.1 x 8.89 x 12.9 x 10.3 x 4.42 x 3.6 x
EV / FCF 18.7 x 28.3 x 36.5 x 17 x 31.4 x 6.57 x 7.19 x 5.6 x
FCF Yield 5.33% 3.53% 2.74% 5.89% 3.18% 15.2% 13.9% 17.9%
Price to Book 1.73 x 2.32 x 3.77 x 1.85 x 2.37 x 0.94 x 0.88 x 0.81 x
Nbr of stocks (in thousands) 4,522,332 4,522,332 4,522,332 4,522,332 4,570,632 4,570,632 4,570,632 -
Reference price 2 5.567 8.347 14.75 7.928 11.32 4.721 4.721 4.721
Announcement Date 27/03/19 30/03/20 30/03/21 29/03/22 30/03/23 26/03/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 8,809 10,364 11,345 13,152 13,619 13,229 14,147 15,975
EBITDA 1 2,270 2,929 3,079 3,691 3,784 3,082 3,352 3,852
EBIT 1 1,710 2,331 2,389 3,004 3,023 2,218 2,614 3,135
Operating Margin 19.41% 22.5% 21.05% 22.84% 22.2% 16.77% 18.47% 19.63%
Earnings before Tax (EBT) 1 1,775 2,247 2,496 2,842 3,318 2,369 2,638 3,196
Net income 1 1,473 1,845 2,030 2,245 2,723 2,002 2,195 2,646
Net margin 16.72% 17.8% 17.89% 17.07% 20% 15.13% 15.52% 16.56%
EPS 2 0.3300 0.4115 0.4500 0.5000 0.6000 0.4400 0.4857 0.5836
Free Cash Flow 1 1,424 1,379 1,780 1,933 1,557 2,372 2,063 2,474
FCF margin 16.17% 13.31% 15.69% 14.7% 11.43% 17.81% 14.58% 15.49%
FCF Conversion (EBITDA) 62.76% 47.08% 57.81% 52.38% 41.14% 71.61% 61.54% 64.23%
FCF Conversion (Net income) 96.71% 74.76% 87.68% 86.13% 57.17% 119.04% 93.98% 93.51%
Dividend per Share 2 0.1010 0.1110 0.1300 0.1420 0.1650 0.1300 0.1534 0.1677
Announcement Date 27/03/19 30/03/20 30/03/21 29/03/22 30/03/23 26/03/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S1 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 4,943 5,421 5,091 6,254 6,230 6,922 6,975 6,644 6,898 6,332 6,419 7,846 7,025 8,586
EBITDA - - - - - - - - - - - - - -
EBIT 1 - - - - 1,533 1,471 1,580 1,443 1,390 827.9 1,153 1,295 1,287 1,471
Operating Margin - - - - 24.6% 21.25% 22.64% 21.72% 20.15% 13.08% 17.97% 16.51% 18.31% 17.13%
Earnings before Tax (EBT) - - - - - - 1,856 - - - - - - -
Net income - - - - - - 1,459 - - - - - - -
Net margin - - - - - - 20.92% - - - - - - -
EPS 2 0.2100 0.2015 0.2200 0.2300 0.2700 0.2300 0.3200 0.2800 0.2700 0.1700 0.2300 0.2700 0.2600 0.3100
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 28/08/19 30/03/20 26/08/20 30/03/21 27/08/21 29/03/22 22/08/22 30/03/23 18/09/23 26/03/24 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 1,526 1,279 - - - - - -
Net Cash position 1 - - 1,663 3,023 2,866 5,991 6,746 7,727
Leverage (Debt/EBITDA) 0.6721 x 0.4368 x - - - - - -
Free Cash Flow 1 1,424 1,379 1,780 1,933 1,557 2,373 2,063 2,474
ROE (net income / shareholders' equity) 10.6% 12% 12% 12% 13.3% 10.4% 9.46% 9.99%
ROA (Net income/ Total Assets) 7.23% 7.33% 7.56% 7.7% 8.6% 6.3% 6.45% 6.75%
Assets 1 20,384 25,156 26,849 29,161 31,662 31,637 34,035 39,195
Book Value Per Share 2 3.210 3.600 3.910 4.280 4.790 5.030 5.390 5.830
Cash Flow per Share 2 0.4900 0.5200 0.6000 0.6700 - 0.7800 0.4700 0.6100
Capex 1 795 942 896 1,071 658 853 675 821
Capex / Sales 9.02% 9.09% 7.9% 8.14% 4.83% 6.4% 4.77% 5.14%
Announcement Date 27/03/19 30/03/20 30/03/21 29/03/22 30/03/23 26/03/24 - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
4.721 CNY
Average target price
8.129 CNY
Spread / Average Target
+72.19%
Consensus
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