Financials Zhejiang Yonghe Refrigerant Co., Ltd.

Equities

605020

CNE100004PC1

Commodity Chemicals

End-of-day quote Shanghai S.E. Other stock markets 23:00:00 16/05/2024 BST			5-day change	1st Jan Change
25.18 ^CNY	+1.66%		-4.33%	+0.68%

04-25	Zhejiang Yonghe Refrigerant Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
2023	Zhejiang Yonghe Refrigerant Co., Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,281	10,627	9,485	9,575	-	-
Enterprise Value (EV) ¹	8,281	10,627	9,485	9,575	9,575	9,575
P/E ratio	25.6 x	34.8 x	52.1 x	18.6 x	13.4 x	10.9 x
Yield	-	0.64%	0.6%	1.67%	2.42%	-
Capitalization / Revenue	-	2.79 x	2.17 x	1.95 x	1.73 x	1.53 x
EV / Revenue	-	2.79 x	2.17 x	1.95 x	1.73 x	1.53 x
EV / EBITDA	-	22.1 x	19.6 x	10.3 x	7.95 x	6.78 x
EV / FCF	-	-12.8 x	-10.5 x	27.1 x	15 x	-
FCF Yield	-	-7.79%	-9.56%	3.69%	6.65%	-
Price to Book	-	4.58 x	3.87 x	3.06 x	2.36 x	2.06 x
Nbr of stocks (in thousands)	377,651	378,756	379,232	380,268	-	-
Reference price ²	21.93	28.06	25.01	25.18	25.18	25.18
Announcement Date	29/03/22	03/04/23	25/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	3,804	4,369	4,918	5,529	6,244
EBITDA ¹	-	481.2	484.5	934	1,205	1,412
EBIT ¹	-	334.5	219.9	599	763.4	1,025
Operating Margin	-	8.79%	5.03%	12.18%	13.81%	16.42%
Earnings before Tax (EBT) ¹	-	332.3	219	598.5	762.9	1,025
Net income ¹	278	300.2	183.7	516.1	664.9	878.1
Net margin	-	7.89%	4.2%	10.49%	12.03%	14.06%
EPS ²	0.8571	0.8071	0.4800	1.355	1.882	2.310
Free Cash Flow ¹	-	-827.9	-907.1	353	637	-
FCF margin	-	-21.77%	-20.76%	7.18%	11.52%	-
FCF Conversion (EBITDA)	-	-	-	37.8%	52.87%	-
FCF Conversion (Net income)	-	-	-	68.4%	95.8%	-
Dividend per Share ²	-	0.1786	0.1500	0.4200	0.6100	-
Announcement Date	29/03/22	03/04/23	25/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q1	2023 Q2
Net sales ¹	-	1,141
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income ¹	29.22	80.82
Net margin	-	7.08%
EPS	0.0786	-
Dividend per Share	-	-
Announcement Date	26/04/23	11/08/23

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow ¹	-	-828	-907	353	637	-
ROE (net income / shareholders' equity)	-	13.7%	7.14%	16.5%	19%	18.9%
ROA (Net income/ Total Assets)	-	6.78%	-	-	-	-
Assets ¹	-	4,430	-	-	-	-
Book Value Per Share ²	-	6.120	6.460	8.230	10.70	12.20
Cash Flow per Share ²	-	1.160	1.380	1.800	2.900	2.950
Capex ¹	-	1,270	1,431	600	370	394
Capex / Sales	-	33.38%	32.75%	12.19%	6.7%	6.31%
Announcement Date	29/03/22	03/04/23	25/04/24	-	-	-

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 Zhejiang Yonghe Refrigerant Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

25.18 CNY

Average target price

39.15 CNY

Spread / Average Target

+55.48%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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