Financials Shanying International Holdings Co.,Ltd

Equities

600567

CNE0000019B0

Paper Products

End-of-day quote Shanghai S.E. 23:00:00 25/04/2024 BST 5-day change 1st Jan Change
1.8 CNY +1.12% Intraday chart for Shanying International Holdings Co.,Ltd 0.00% -7.22%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 17,034 13,411 14,708 10,928 8,380 5,417 - -
Enterprise Value (EV) 1 33,770 31,306 37,396 37,770 34,379 31,548 33,832 36,178
P/E ratio 14.5 x 13.1 x 12.2 x -4.77 x 48.5 x 10.8 x 6.71 x 7.13 x
Yield - 1.32% 3.34% - 0.57% 1.11% 3.67% 3.7%
Capitalization / Revenue 0.73 x 0.54 x 0.45 x 0.32 x 0.29 x 0.16 x 0.14 x 0.13 x
EV / Revenue 1.45 x 1.25 x 1.13 x 1.11 x 1.17 x 0.94 x 0.87 x 0.89 x
EV / EBITDA 13.6 x 11.1 x 12.8 x -56.3 x 17.4 x 8.51 x 7.56 x 7.86 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.2 x 0.89 x 0.95 x 0.87 x 0.65 x 0.56 x 0.52 x 0.49 x
Nbr of stocks (in thousands) 4,518,408 4,440,803 4,470,535 4,406,508 4,319,762 3,009,532 - -
Reference price 2 3.770 3.020 3.290 2.480 1.940 1.800 1.800 1.800
Announcement Date 30/04/20 29/04/21 15/04/22 28/04/23 23/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 23,241 24,969 33,033 34,014 29,333 33,564 38,800 40,675
EBITDA 1 2,488 2,813 2,919 -670.6 1,975 3,709 4,478 4,606
EBIT 1 1,569 1,786 1,653 -2,175 190.9 1,022 1,314 1,199
Operating Margin 6.75% 7.15% 5.01% -6.39% 0.65% 3.04% 3.39% 2.95%
Earnings before Tax (EBT) 1 1,566 1,690 1,650 -2,272 194.6 716.2 1,143 1,210
Net income 1 1,362 1,381 1,516 -2,256 156.2 648.5 1,196 1,136
Net margin 5.86% 5.53% 4.59% -6.63% 0.53% 1.93% 3.08% 2.79%
EPS 2 0.2600 0.2300 0.2700 -0.5200 0.0400 0.1667 0.2683 0.2525
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 - 0.0400 0.1100 - 0.0110 0.0200 0.0660 0.0667
Announcement Date 30/04/20 29/04/21 15/04/22 28/04/23 23/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S1 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q4 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 11,170 12,071 9,826 15,143 15,199 8,979 17,834 16,668 17,346 13,748 15,586 14,821 17,135 15,741 16,963
EBITDA - - - - - - - - - - - - - - -
EBIT 1 - - - 1,120 1,237 85.35 415.8 152.7 - -278.6 - -9.585 90.08 -17.67 274
Operating Margin - - - 7.4% 8.14% 0.95% 2.33% 0.92% - -2.03% - -0.06% 0.53% -0.11% 1.62%
Earnings before Tax (EBT) 1 - - - - - 81.89 - - - - - - - - -
Net income 1 - - - - - 208.9 - - - - - - - - -
Net margin - - - - - 2.33% - - - - - - - - -
EPS 0.1666 0.0900 0.1010 0.1290 0.1900 - 0.0800 0.0200 -0.5400 -0.0600 0.1000 - - 0.0100 0.0400
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 30/08/19 30/04/20 30/08/20 29/04/21 24/08/21 15/04/22 15/04/22 25/08/22 28/04/23 18/08/23 23/04/24 - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 16,735 17,894 22,688 26,842 25,999 26,131 28,415 30,761
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 6.728 x 6.362 x 7.773 x -40.02 x 13.17 x 7.045 x 6.346 x 6.679 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 9.95% 9.13% 9.27% -14.8% 1.14% 4.13% 7.35% 7.97%
ROA (Net income/ Total Assets) 3.47% 3.14% 3.11% -4.32% - 1.17% 1.93% 2.67%
Assets 1 39,222 43,984 48,715 52,256 - 55,270 61,868 42,639
Book Value Per Share 2 3.140 3.390 3.480 2.840 2.970 3.200 3.440 3.640
Cash Flow per Share 2 0.2900 0.2500 0.4300 0.0400 0.7100 0.4300 0.9800 0.7600
Capex 1 3,067 3,382 4,437 3,762 2,008 3,471 3,325 3,762
Capex / Sales 13.2% 13.55% 13.43% 11.06% 6.85% 10.34% 8.57% 9.25%
Announcement Date 30/04/20 29/04/21 15/04/22 28/04/23 23/04/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
1.8 CNY
Average target price
2.137 CNY
Spread / Average Target
+18.70%
Consensus
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