Stock 603331 ZHEJIANG BAIDA PRECISION MANUFACTURING CORP.
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Financials Zhejiang Baida Precision Manufacturing Corp.

Equities

603331

CNE100002WQ1

Industrial Machinery & Equipment

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-06-03 pm EDT 		5-day change 1st Jan Change
9.45 CNY -2.28% Intraday chart for Zhejiang Baida Precision Manufacturing Corp. -5.69% -27.86%
Apr. 28 Zhejiang Baida Precision Manufacturing Corp. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Mar. 19 Zhejiang Baida Precision Manufacturing Corp. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,895 2,100 1,861 2,284 2,074 2,652
Enterprise Value (EV) 1 1,991 2,336 2,266 2,876 2,643 2,993
P/E ratio 26.7 x 28.2 x 22.8 x 24.8 x 30.6 x 21.5 x
Yield 1.61% 1.44% 1.92% 1.95% 2.15% 1.53%
Capitalization / Revenue 2.45 x 2.46 x 1.92 x 1.87 x 1.61 x 1.84 x
EV / Revenue 2.57 x 2.74 x 2.34 x 2.36 x 2.05 x 2.08 x
EV / EBITDA 14.8 x 16.3 x 12.8 x 13.2 x 13.2 x 11.3 x
EV / FCF -58.9 x -19.1 x -10.1 x -19.4 x 74.2 x 7.87 x
FCF Yield -1.7% -5.24% -9.92% -5.16% 1.35% 12.7%
Price to Book 2.64 x 2.76 x 2.13 x 2.55 x 2.23 x 2.06 x
Nbr of stocks (in thousands) 180,927 179,805 178,952 178,159 178,170 202,469
Reference price 2 10.47 11.68 10.40 12.82 11.64 13.10
Announcement Date 4/23/19 3/29/20 4/13/21 4/12/22 4/26/23 3/19/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 774.5 852.1 967.6 1,218 1,287 1,439
EBITDA 1 134.2 143.4 177.4 218.2 200.3 265.2
EBIT 1 92.89 93.02 113.1 131.7 98.61 164.2
Operating Margin 11.99% 10.92% 11.69% 10.81% 7.66% 11.41%
Earnings before Tax (EBT) 1 86.78 89.09 98.69 107.9 80.64 143.2
Net income 1 70.47 74.72 81.49 91.83 67.33 118.9
Net margin 9.1% 8.77% 8.42% 7.54% 5.23% 8.26%
EPS 2 0.3929 0.4143 0.4568 0.5176 0.3800 0.6094
Free Cash Flow 1 -33.79 -122.4 -224.8 -148.5 35.64 380.3
FCF margin -4.36% -14.36% -23.23% -12.18% 2.77% 26.42%
FCF Conversion (EBITDA) - - - - 17.79% 143.41%
FCF Conversion (Net income) - - - - 52.92% 319.81%
Dividend per Share 2 0.1686 0.1686 0.2000 0.2500 0.2500 0.2000
Announcement Date 4/23/19 3/29/20 4/13/21 4/12/22 4/26/23 3/19/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 96.4 236 405 592 569 340
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 0.7184 x 1.648 x 2.285 x 2.711 x 2.841 x 1.284 x
Free Cash Flow 1 -33.8 -122 -225 -148 35.6 380
ROE (net income / shareholders' equity) 10.1% 9.51% 9.05% 9.45% 6.63% 9.97%
ROA (Net income/ Total Assets) 5.48% 4.49% 4.17% 4.14% 2.93% 3.83%
Assets 1 1,285 1,664 1,954 2,220 2,296 3,107
Book Value Per Share 2 3.970 4.240 4.880 5.030 5.220 6.350
Cash Flow per Share 2 0.3700 1.020 1.080 0.7500 0.6400 1.920
Capex 1 116 301 289 220 143 364
Capex / Sales 14.97% 35.28% 29.86% 18.04% 11.09% 25.31%
Announcement Date 4/23/19 3/29/20 4/13/21 4/12/22 4/26/23 3/19/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Industrial Parts & Components

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Industrial Parts & Components
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