Financials Zheshang Securities Co., Ltd.

Equities

601878

CNE100002R65

Investment Banking & Brokerage Services

End-of-day quote Shanghai S.E. 23:00:00 27/06/2024 BST 5-day change 1st Jan Change
10.72 CNY +0.28% Intraday chart for Zheshang Securities Co., Ltd. -5.55% +2.78%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 55,295 51,114 38,510 40,045 41,159 - -
Enterprise Value (EV) 1 55,295 51,114 38,510 40,045 41,159 41,159 41,159
P/E ratio 32.6 x 22.7 x 24.2 x 22.7 x 21.1 x 21.2 x 19.1 x
Yield - - 1.31% - 1.86% - -
Capitalization / Revenue 5.2 x 3.11 x - 2.27 x 2.35 x 2.21 x 2.09 x
EV / Revenue 5.2 x 3.11 x - 2.27 x 2.35 x 2.21 x 2.09 x
EV / EBITDA - - - - - - -
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Price to Book - 2.14 x - 1.49 x 1.46 x 1.37 x 1.29 x
Nbr of stocks (in thousands) 3,614,045 3,878,169 3,878,169 3,839,409 3,839,413 - -
Reference price 2 15.30 13.18 9.930 10.43 10.72 10.72 10.72
Announcement Date 17/03/21 15/03/22 30/03/23 25/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 10,637 16,418 - 17,638 17,530 18,608 19,681
EBITDA - - - - - - -
EBIT 1 - 2,891 2,106 2,211 2,489 2,504 2,767
Operating Margin - 17.61% - 12.54% 14.2% 13.45% 14.06%
Earnings before Tax (EBT) 1 - - - 2,202 2,291 2,534 2,781
Net income 1 - - 1,654 1,754 1,974 1,971 2,167
Net margin - - - 9.94% 11.26% 10.59% 11.01%
EPS 2 0.4700 0.5800 0.4100 0.4600 0.5084 0.5067 0.5600
Free Cash Flow - - - - - - -
FCF margin - - - - - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 - - 0.1300 - 0.1991 - -
Announcement Date 17/03/21 15/03/22 30/03/23 25/03/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow - - - - - - -
ROE (net income / shareholders' equity) - 10.2% 6.58% 6.61% 6.1% 6.47% 6.83%
ROA (Net income/ Total Assets) - - - - 1.32% 1.43% 1.51%
Assets 1 - - - - 149,572 138,292 144,009
Book Value Per Share 2 - 6.150 - 7.010 7.360 7.810 8.310
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 17/03/21 15/03/22 30/03/23 25/03/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
D+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
10.72 CNY
Average target price
12.21 CNY
Spread / Average Target
+13.90%
Consensus

Annual profits - Rate of surprise

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