Financials Shandong Weigao Group Medical Polymer Company Limited

Equities

1066

CNE100000171

Medical Equipment, Supplies & Distribution

Market Closed - Hong Kong S.E. 04:08:06 2024-04-30 am EDT 5-day change 1st Jan Change
5.34 HKD +2.69% Intraday chart for Shandong Weigao Group Medical Polymer Company Limited +10.10% -29.83%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 37,747 66,685 35,854 51,750 31,614 22,588 - -
Enterprise Value (EV) 1 39,027 65,022 32,830 48,884 31,614 15,841 14,861 13,559
P/E ratio 20.3 x 32.8 x 15.9 x 18.9 x 15.7 x 10.2 x 8.47 x 8.35 x
Yield 1.33% 0.88% 1.79% 1.46% - 3.1% 3.39% 3.63%
Capitalization / Revenue 3.64 x 5.88 x 2.73 x 3.8 x 2.39 x 1.6 x 1.41 x 1.38 x
EV / Revenue 3.77 x 5.73 x 2.5 x 3.59 x 2.39 x 1.12 x 0.93 x 0.83 x
EV / EBITDA 13.3 x 21.1 x 8.89 x 12.9 x 10.3 x 4.73 x 3.86 x 3.02 x
EV / FCF 28.3 x 36.5 x 17 x 31.4 x - 7.68 x 6.01 x -
FCF Yield 3.53% 2.74% 5.89% 3.18% - 13% 16.6% -
Price to Book 2.32 x 3.77 x 1.85 x 2.37 x - 0.92 x 0.85 x 0.78 x
Nbr of stocks (in thousands) 4,522,332 4,522,332 4,522,332 4,570,632 4,570,632 4,570,632 - -
Reference price 2 8.347 14.75 7.928 11.32 6.917 4.942 4.942 4.942
Announcement Date 3/30/20 3/30/21 3/29/22 3/30/23 3/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 10,364 11,345 13,152 13,619 13,229 14,147 15,975 16,426
EBITDA 1 2,929 3,079 3,691 3,784 3,082 3,352 3,852 4,484
EBIT 1 2,331 2,389 3,004 3,023 2,218 2,614 3,135 3,052
Operating Margin 22.5% 21.05% 22.84% 22.2% 16.77% 18.47% 19.63% 18.58%
Earnings before Tax (EBT) 1 2,247 2,496 2,842 3,318 2,369 2,638 3,196 3,136
Net income 1 1,845 2,030 2,245 2,723 2,002 2,195 2,646 2,665
Net margin 17.8% 17.89% 17.07% 20% 15.13% 15.52% 16.56% 16.23%
EPS 2 0.4115 0.4500 0.5000 0.6000 0.4400 0.4857 0.5836 0.5917
Free Cash Flow 1 1,379 1,780 1,933 1,557 - 2,063 2,474 -
FCF margin 13.31% 15.69% 14.7% 11.43% - 14.58% 15.49% -
FCF Conversion (EBITDA) 47.08% 57.81% 52.38% 41.14% - 61.54% 64.23% -
FCF Conversion (Net income) 74.76% 87.68% 86.13% 57.17% - 93.98% 93.51% -
Dividend per Share 2 0.1110 0.1300 0.1420 0.1650 - 0.1534 0.1677 0.1792
Announcement Date 3/30/20 3/30/21 3/29/22 3/30/23 3/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 5,421 5,091 6,254 6,230 6,922 6,975 6,644 6,898 6,332 6,419 7,846 7,025 8,586
EBITDA - - - - - - - - - - - - -
EBIT 1 - - - 1,533 1,471 1,580 1,443 1,390 827.9 1,153 1,295 1,287 1,471
Operating Margin - - - 24.6% 21.25% 22.64% 21.72% 20.15% 13.08% 17.97% 16.51% 18.31% 17.13%
Earnings before Tax (EBT) - - - - - 1,856 - - - - - - -
Net income - - - - - 1,459 - - - - - - -
Net margin - - - - - 20.92% - - - - - - -
EPS 2 0.2015 0.2200 0.2300 0.2700 0.2300 0.3200 0.2800 0.2700 0.1700 0.2300 0.2700 0.2600 0.3100
Dividend per Share - - - - - - - - - - - - -
Announcement Date 3/30/20 8/26/20 3/30/21 8/27/21 3/29/22 8/22/22 3/30/23 9/18/23 3/26/24 - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,279 - - - - - - -
Net Cash position 1 - 1,663 3,023 2,866 - 6,746 7,727 9,029
Leverage (Debt/EBITDA) 0.4368 x - - - - - - -
Free Cash Flow 1 1,379 1,780 1,933 1,557 - 2,063 2,474 -
ROE (net income / shareholders' equity) 12% 12% 12% 13.3% - 9.46% 9.99% 9.73%
ROA (Net income/ Total Assets) 7.33% 7.56% 7.7% 8.6% - 6.45% 6.75% 6.4%
Assets 1 25,156 26,849 29,161 31,662 - 34,035 39,195 41,644
Book Value Per Share 2 3.600 3.910 4.280 4.790 - 5.390 5.830 6.340
Cash Flow per Share 2 0.5200 0.6000 0.6700 - - 0.4700 0.6100 1.130
Capex 1 942 896 1,071 658 - 675 821 504
Capex / Sales 9.09% 7.9% 8.14% 4.83% - 4.77% 5.14% 3.07%
Announcement Date 3/30/20 3/30/21 3/29/22 3/30/23 3/26/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
4.942 CNY
Average target price
7.037 CNY
Spread / Average Target
+42.39%
Consensus
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