Financials Hengyi Petrochemical Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-07-08 pm EDT			5-day change	1st Jan Change
7.26 ^CNY	+0.97%		+1.11%	+8.04%

Jun. 20	Hengyi Petrochemical Co., Ltd. Implements Cash Dividend for 2023, Payable on 26 June 2024	CI
May. 13	Hengyi Petrochemical Co., Ltd. Approves 2023 Profit Distribution Plan	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	39,557	47,125	38,541	25,065	22,946	24,862	-	-
Enterprise Value (EV) ¹	73,670	88,147	81,140	72,284	75,069	24,862	24,862	24,862
P/E ratio	12.3 x	12 x	11.7 x	-23.4 x	51.7 x	29 x	21.1 x	16.1 x
Yield	2.87%	2.34%	1.88%	-	1.49%	2.48%	3.44%	4.06%
Capitalization / Revenue	0.5 x	0.55 x	0.3 x	0.16 x	0.17 x	0.15 x	0.14 x	0.16 x
EV / Revenue	0.5 x	0.55 x	0.3 x	0.16 x	0.17 x	0.15 x	0.14 x	0.16 x
EV / EBITDA	8.15 x	6.79 x	5.32 x	11.7 x	6.03 x	3.31 x	3.13 x	2.88 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.7 x	2 x	1.53 x	1.06 x	1.02 x	1.04 x	1.02 x	0.99 x
Nbr of stocks (in thousands)	3,694,243	3,681,645	3,629,113	3,565,411	3,414,617	3,387,209	-	-
Reference price ²	10.71	12.80	10.62	7.030	6.720	7.260	7.260	7.260
Announcement Date	3/29/20	4/19/21	4/25/22	4/19/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	79,621	86,430	128,980	152,050	136,148	169,505	174,099	154,487
EBITDA ¹	4,854	6,942	7,242	2,144	3,805	7,512	7,939	8,636
EBIT ¹	4,789	4,526	4,291	-1,104	429.9	1,394	1,776	1,889
Operating Margin	6.01%	5.24%	3.33%	-0.73%	0.32%	0.82%	1.02%	1.22%
Earnings before Tax (EBT) ¹	4,771	4,520	4,303	-1,109	399.8	1,374	1,756	1,859
Net income ¹	3,201	3,072	3,408	-1,080	435.5	914.8	1,256	1,643
Net margin	4.02%	3.55%	2.64%	-0.71%	0.32%	0.54%	0.72%	1.06%
EPS ²	0.8692	1.070	0.9100	-0.3000	0.1300	0.2500	0.3433	0.4500
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.3077	0.3000	0.2000	-	0.1000	0.1800	0.2500	0.2950
Announcement Date	3/29/20	4/19/21	4/25/22	4/19/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	34,113	41,022	42,599	47,219	52,122	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	7.027 x	5.91 x	5.882 x	22.03 x	13.7 x	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	14.7%	12.6%	13.6%	-4.31%	1.74%	3.55%	4.79%	6.09%
ROA (Net income/ Total Assets)	4.35%	3.45%	3.44%	-0.99%	0.4%	0.8%	1.1%	1.4%
Assets ¹	73,527	89,018	99,117	108,738	110,009	114,350	114,141	117,367
Book Value Per Share ²	6.290	6.390	6.930	6.620	6.560	6.990	7.150	7.360
Cash Flow per Share ²	-0.0300	1.360	2.120	0.7400	1.240	1.290	1.690	1.860
Capex ¹	11,307	8,170	5,984	2,941	4,912	3,205	3,151	4,227
Capex / Sales	14.2%	9.45%	4.64%	1.93%	3.61%	1.89%	1.81%	2.74%
Announcement Date	3/29/20	4/19/21	4/25/22	4/19/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

7.26 CNY

Average target price

8.92 CNY

Spread / Average Target

+22.87%

	1st Jan change	Capi.
HENGYI PETROCHEMICAL CO., LTD.	+8.04%	3.38B
AIR LIQUIDE	+0.92%	100B
SABIC	-11.38%	59.03B
PT CHANDRA ASRI PACIFIC TBK	+75.24%	48.97B
WANHUA CHEMICAL GROUP CO., LTD.	+2.29%	33.93B
LYONDELLBASELL INDUSTRIES N.V.	-1.98%	30.35B
WESTLAKE CORPORATION	+0.17%	18.03B
NINGXIA BAOFENG ENERGY GROUP CO., LTD.	+18.96%	17.67B
HENGLI PETROCHEMICAL CO.,LTD.	+5.32%	13.43B
SOLAR INDUSTRIES INDIA LIMITED	+83.76%	13.06B