SHANGHAI @HUB CO.,LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 18.29 CNY | +1.67% |
|
+0.38% | -7.72% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 7,992 | 14,123 | 12,144 | 7,740 | 9,127 | 8,423 | - | - |
| Enterprise Value (EV) 1 | 9,582 | 15,749 | 15,122 | 10,596 | 11,264 | 9,711 | 9,750 | 9,175 |
| P/E ratio | 73 x | 95.4 x | 109 x | 67.2 x | 73.4 x | 45.7 x | 36.2 x | 29.3 x |
| Yield | 0.14% | 0.1% | 0.09% | 0.19% | 0.41% | 0.14% | 0.16% | 0.19% |
| Capitalization / Revenue | 11 x | 15.5 x | 10.1 x | 5.32 x | 5.92 x | 5.32 x | 4.7 x | 4.33 x |
| EV / Revenue | 13.2 x | 17.3 x | 12.5 x | 7.28 x | 7.3 x | 6.14 x | 5.43 x | 4.72 x |
| EV / EBITDA | 33.1 x | 35.6 x | 25.7 x | 13.3 x | 13.2 x | 9.27 x | 8.47 x | 7.25 x |
| EV / FCF | -9.46 x | -10.4 x | -27.1 x | 71.7 x | 13.8 x | 13.4 x | 19.6 x | 14.7 x |
| FCF Yield | -10.6% | -9.64% | -3.69% | 1.39% | 7.23% | 7.46% | 5.1% | 6.81% |
| Price to Book | 7.28 x | 4.88 x | 4.67 x | 2.57 x | 2.92 x | 2.54 x | 2.58 x | 2.45 x |
| Nbr of stocks (in thousands) | 412,750 | 460,498 | 460,498 | 460,498 | 460,498 | 460,498 | - | - |
| Reference price 2 | 19.36 | 30.67 | 26.37 | 16.81 | 19.82 | 18.29 | 18.29 | 18.29 |
| Announcement Date | 3/13/20 | 2/3/21 | 3/17/22 | 3/10/23 | 4/12/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 726.6 | 909.7 | 1,206 | 1,455 | 1,542 | 1,582 | 1,794 | 1,945 |
| EBITDA 1 | 289.8 | 442.7 | 588.3 | 798 | 851.2 | 1,048 | 1,151 | 1,265 |
| EBIT 1 | 119.3 | 163 | 132.5 | 146.3 | 165 | 244 | 304 | 370.3 |
| Operating Margin | 16.42% | 17.92% | 10.99% | 10.05% | 10.7% | 15.42% | 16.95% | 19.04% |
| Earnings before Tax (EBT) 1 | 122.3 | 163.6 | 133.4 | 145.1 | 166.3 | 198.6 | 276.8 | 344.7 |
| Net income 1 | 110.3 | 136.4 | 111 | 114.9 | 123 | 184.5 | 216.3 | 261 |
| Net margin | 15.18% | 14.99% | 9.21% | 7.9% | 7.97% | 11.66% | 12.05% | 13.42% |
| EPS 2 | 0.2653 | 0.3214 | 0.2429 | 0.2500 | 0.2700 | 0.4006 | 0.5053 | 0.6244 |
| Free Cash Flow 1 | -1,013 | -1,518 | -557.7 | 147.8 | 814.1 | 724 | 497 | 625 |
| FCF margin | -139.39% | -166.85% | -46.25% | 10.16% | 52.79% | 45.76% | 27.7% | 32.14% |
| FCF Conversion (EBITDA) | - | - | - | 18.52% | 95.64% | 69.08% | 43.18% | 49.41% |
| FCF Conversion (Net income) | - | - | - | 128.62% | 661.98% | 392.5% | 229.82% | 239.49% |
| Dividend per Share 2 | 0.0270 | 0.0306 | 0.0243 | 0.0314 | 0.0810 | 0.0265 | 0.0298 | 0.0349 |
| Announcement Date | 3/13/20 | 2/3/21 | 3/17/22 | 3/10/23 | 4/12/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 351 | 342.5 | 369.8 | 381.2 | 361.8 | 372 | 374 | - | 426.8 | - | - | - | - | - | - |
| EBITDA | 167 | 235 | 230 | 248.4 | - | - | 261.9 | - | - | - | - | - | - | - | - |
| EBIT | 13.71 | 13.13 | 36.71 | 40.89 | 55.55 | - | 45.46 | - | 28.16 | - | - | - | - | - | - |
| Operating Margin | 3.91% | 3.83% | 9.93% | 10.72% | 15.35% | - | 12.15% | - | 6.6% | - | - | - | - | - | - |
| Earnings before Tax (EBT) | 13.75 | 13.17 | 36.71 | 40.82 | 54.46 | 45.69 | 46.15 | - | 28.84 | - | - | - | - | - | - |
| Net income 1 | 7.259 | 11.18 | 30.42 | 32.76 | 40.55 | 35.08 | 33.57 | 32.98 | 21.34 | 35.75 | 42 | 43 | 64 | - | - |
| Net margin | 2.07% | 3.26% | 8.23% | 8.59% | 11.21% | 9.43% | 8.98% | - | 5% | - | - | - | - | - | - |
| EPS 2 | 0.0143 | 0.0214 | 0.0714 | 0.0714 | 0.0857 | 0.0786 | 0.0400 | 0.0700 | 0.0500 | 0.0800 | 0.0920 | 0.0928 | 0.1381 | 0.1000 | 0.1200 |
| Dividend per Share 2 | 0.0243 | - | - | - | 0.0314 | - | - | - | - | - | - | - | 0.0265 | - | - |
| Announcement Date | 3/17/22 | 4/29/22 | 8/19/22 | 10/28/22 | 3/10/23 | 4/27/23 | 8/15/23 | 10/27/23 | 4/12/24 | 4/27/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,590 | 1,626 | 2,978 | 2,857 | 2,136 | 1,288 | 1,327 | 753 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 5.487 x | 3.673 x | 5.062 x | 3.58 x | 2.51 x | 1.229 x | 1.153 x | 0.5952 x |
| Free Cash Flow 1 | -1,013 | -1,518 | -558 | 148 | 814 | 724 | 497 | 625 |
| ROE (net income / shareholders' equity) | 10.5% | 8.65% | 4.31% | 3.85% | 4% | 5.72% | 5.66% | 5.99% |
| ROA (Net income/ Total Assets) | 3.45% | 2.24% | 2.62% | 1.46% | - | 2.59% | 3.57% | 3.74% |
| Assets 1 | 3,199 | 6,099 | 4,237 | 7,861 | - | 7,111 | 6,061 | 6,981 |
| Book Value Per Share 2 | 2.660 | 6.280 | 5.640 | 6.550 | 6.800 | 7.200 | 7.080 | 7.460 |
| Cash Flow per Share 2 | 0.4600 | 0.3600 | 1.560 | 2.570 | 2.590 | 2.350 | 2.200 | 2.590 |
| Capex 1 | 1,203 | 1,685 | 1,272 | 1,036 | 380 | 296 | 594 | 590 |
| Capex / Sales | 165.58% | 185.24% | 105.51% | 71.18% | 24.61% | 18.71% | 33.09% | 30.32% |
| Announcement Date | 3/13/20 | 2/3/21 | 3/17/22 | 3/10/23 | 4/12/24 | - | - | - |
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
18.29
CNY
Average target price
20.92
CNY
Spread / Average Target
+14.36%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -7.72% | 1.17B | |
| +18.67% | 4.55B | |
| -18.21% | 2.36B | |
| -9.50% | 1.6B | |
| -0.34% | 1.56B | |
| -20.72% | 1.51B | |
| -33.12% | 1.2B | |
| -9.86% | 992M | |
| +118.67% | 692M | |
| -22.23% | 652M |
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