JIANGMEN KANHOO INDUSTRY CO., LTD

Financials Jiangmen Kanhoo Industry Co., Ltd

Equities

300340

CNE100001JW8

Commodity Chemicals

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-16 pm EDT			5-day change	1st Jan Change
8.19 ^CNY	+1.61%		-3.42%	-32.87%

Apr. 25	Jiangmen Kanhoo Industry Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
2023	Jiangmen Kanhoo Industry Co., Ltd announced that it has received CNY 584.01 million in funding from Zhuhai Gree Financial Investment Management Co., Ltd.	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	2,976	2,690	2,887	4,118	2,217	3,375
Enterprise Value (EV) ¹	3,282	2,863	3,339	4,484	2,754	3,555
P/E ratio	51.4 x	88.4 x	-3.88 x	295 x	-4.78 x	-5.1 x
Yield	0.71%	0.39%	-	-	-	-
Capitalization / Revenue	1.35 x	1.46 x	1.75 x	1.24 x	0.56 x	1.11 x
EV / Revenue	1.49 x	1.56 x	2.03 x	1.35 x	0.69 x	1.17 x
EV / EBITDA	22.1 x	24.6 x	-7.47 x	37.4 x	-13.2 x	-15.8 x
EV / FCF	-15.2 x	21.5 x	-16.4 x	25 x	-32.2 x	155 x
FCF Yield	-6.56%	4.66%	-6.1%	4%	-3.1%	0.64%
Price to Book	2.07 x	1.86 x	4.16 x	5.84 x	9.55 x	12.8 x
Nbr of stocks (in thousands)	212,145	212,145	212,145	212,145	213,574	276,630
Reference price ²	14.03	12.68	13.61	19.41	10.38	12.20
Announcement Date	4/25/19	4/23/20	4/26/21	4/27/22	4/26/23	4/25/24

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	2,202	1,840	1,646	3,331	3,962	3,029
EBITDA ¹	148.2	116.4	-447	119.8	-209.1	-225.2
EBIT ¹	107.1	67.94	-498.7	64	-265.3	-277.9
Operating Margin	4.86%	3.69%	-30.29%	1.92%	-6.7%	-9.18%
Earnings before Tax (EBT) ¹	56.12	24.06	-780.3	6.016	-455.7	-419
Net income ¹	57.91	30.43	-745	13.98	-460.4	-519.1
Net margin	2.63%	1.65%	-45.25%	0.42%	-11.62%	-17.14%
EPS ²	0.2730	0.1435	-3.512	0.0659	-2.170	-2.390
Free Cash Flow ¹	-215.5	133.4	-203.6	179.3	-85.4	22.9
FCF margin	-9.78%	7.25%	-12.37%	5.38%	-2.16%	0.76%
FCF Conversion (EBITDA)	-	114.59%	-	149.65%	-	-
FCF Conversion (Net income)	-	438.43%	-	1,281.87%	-	-
Dividend per Share ²	0.1000	0.0500	-	-	-	-
Announcement Date	4/25/19	4/23/20	4/26/21	4/27/22	4/26/23	4/25/24

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q1
Net sales	-
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income ¹	15.76
Net margin	-
EPS ²	0.0743
Dividend per Share	-
Announcement Date	4/27/22

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	306	173	452	366	537	180
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.062 x	1.487 x	-1.011 x	3.056 x	-2.567 x	-0.8001 x
Free Cash Flow ¹	-215	133	-204	179	-85.4	22.9
ROE (net income / shareholders' equity)	4.06%	2.08%	-69.4%	2.06%	-97.9%	-209%
ROA (Net income/ Total Assets)	1.9%	1.22%	-10.6%	1.15%	-3.83%	-4.26%
Assets ¹	3,056	2,491	7,028	1,219	12,016	12,174
Book Value Per Share ²	6.790	6.830	3.270	3.320	1.090	0.9500
Cash Flow per Share ²	1.680	0.9800	0.3000	0.5300	0.2600	2.130
Capex ¹	186	67.8	49	122	12.6	57.6
Capex / Sales	8.47%	3.69%	2.97%	3.68%	0.32%	1.9%
Announcement Date	4/25/19	4/23/20	4/26/21	4/27/22	4/26/23	4/25/24

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Commodity Chemicals

	1st Jan change	Capi.
JIANGMEN KANHOO INDUSTRY CO., LTD	-32.87%	314M
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WANHUA CHEMICAL GROUP CO., LTD.	+17.24%	39.15B
LYONDELLBASELL INDUSTRIES N.V.	+6.13%	32.86B
WESTLAKE CORPORATION	+12.77%	20.29B
NINGXIA BAOFENG ENERGY GROUP CO., LTD.	+15.03%	17.21B
HENGLI PETROCHEMICAL CO.,LTD.	+19.06%	15.28B
RONGSHENG PETROCHEMICAL CO., LTD.	+6.28%	14.58B

Other Commodity Chemicals

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Financials Jiangmen Kanhoo Industry Co., Ltd

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