Financials Zhejiang Jingxing PaperCo., Ltd.

Equities

002067

CNE000001NP5

Paper Packaging

End-of-day quote Shenzhen S.E. 23:00:00 29/04/2024 BST 5-day change 1st Jan Change
2.93 CNY +0.69% Intraday chart for Zhejiang Jingxing PaperCo., Ltd. +9.74% -13.57%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,900 3,711 3,900 4,823 4,047 4,048
Enterprise Value (EV) 1 5,017 3,814 3,912 4,990 4,191 4,554
P/E ratio 11.7 x 19.7 x 13.3 x 12.9 x 38.9 x 56.5 x
Yield 0.57% 1.05% - - - -
Capitalization / Revenue 0.66 x 0.71 x 0.8 x 0.77 x 0.65 x 0.74 x
EV / Revenue 0.84 x 0.73 x 0.8 x 0.8 x 0.67 x 0.83 x
EV / EBITDA 6.92 x 7.22 x 6.61 x 6.57 x 11.3 x 14 x
EV / FCF 27.5 x 3.69 x -61.1 x -35.3 x 9.12 x -14.8 x
FCF Yield 3.64% 27.1% -1.64% -2.83% 11% -6.77%
Price to Book 0.93 x 0.85 x 0.82 x 0.89 x 0.73 x 0.61 x
Nbr of stocks (in thousands) 1,111,201 1,111,201 1,111,201 1,193,923 1,193,942 1,193,965
Reference price 2 3.510 3.340 3.510 4.040 3.390 3.390
Announcement Date 27/04/19 02/04/20 21/04/21 15/04/22 28/04/23 26/04/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 5,938 5,251 4,875 6,225 6,227 5,457
EBITDA 1 725.1 528.2 592.3 759.1 372.5 325.3
EBIT 1 485.2 282.9 343.3 500.4 109.3 27.03
Operating Margin 8.17% 5.39% 7.04% 8.04% 1.76% 0.5%
Earnings before Tax (EBT) 1 402.4 220.4 369 475.7 123.7 89.73
Net income 1 335.3 188.7 311.9 441.1 117.6 91.57
Net margin 5.65% 3.59% 6.4% 7.09% 1.89% 1.68%
EPS 2 0.3000 0.1698 0.2647 0.3126 0.0872 0.0600
Free Cash Flow 1 182.4 1,032 -64.03 -141.3 459.6 -308.1
FCF margin 3.07% 19.66% -1.31% -2.27% 7.38% -5.65%
FCF Conversion (EBITDA) 25.15% 195.43% - - 123.4% -
FCF Conversion (Net income) 54.39% 547.13% - - 390.87% -
Dividend per Share 2 0.0200 0.0350 - - - -
Announcement Date 27/04/19 02/04/20 21/04/21 15/04/22 28/04/23 26/04/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,116 103 12.2 166 144 507
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 1.54 x 0.1941 x 0.0205 x 0.2192 x 0.3856 x 1.557 x
Free Cash Flow 1 182 1,032 -64 -141 460 -308
ROE (net income / shareholders' equity) 8.58% 4.58% 7.02% 8.89% 2.21% 1.64%
ROA (Net income/ Total Assets) 4.78% 2.94% 3.31% 4.11% 0.86% 0.21%
Assets 1 7,008 6,424 9,416 10,742 13,680 43,752
Book Value Per Share 2 3.790 3.930 4.290 4.550 4.630 5.600
Cash Flow per Share 2 0.3400 0.4500 1.420 1.120 0.9100 1.230
Capex 1 26.4 165 601 519 654 314
Capex / Sales 0.44% 3.14% 12.32% 8.35% 10.5% 5.75%
Announcement Date 27/04/19 02/04/20 21/04/21 15/04/22 28/04/23 26/04/24
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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