Financials Sichuan Furong Technology Co., Ltd.

Equities

603327

CNE100003LC2

Iron & Steel

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-07-01 pm EDT			5-day change	1st Jan Change
13.08 ^CNY	-1.58%		+10.34%	+7.94%

May. 27	Furong Technology Raises 632 Million Yuan from Convertible Bonds Issuance	MT
Apr. 24	Sichuan Furong Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025
Capitalization ¹	7,058	8,388	9,034	9,752	-
Enterprise Value (EV) ¹	7,058	8,388	9,034	9,752	9,752
P/E ratio	24.1 x	21.4 x	33 x	32.7 x	21.6 x
Yield	-	2.49%	2.25%	2.22%	2.57%
Capitalization / Revenue	-	3.72 x	4.74 x	3.82 x	2.79 x
EV / Revenue	-	3.72 x	4.74 x	3.82 x	2.79 x
EV / EBITDA	-	19.7 x	27.7 x	23.6 x	19.9 x
EV / FCF	-	44.7 x	-38.3 x	-84.8 x	73.3 x
FCF Yield	-	2.24%	-2.61%	-1.18%	1.36%
Price to Book	-	4.48 x	4.65 x	4.67 x	4.05 x
Nbr of stocks (in thousands)	745,459	745,459	745,459	745,594	-
Reference price ²	9.467	11.25	12.12	13.08	13.08
Announcement Date	3/29/22	4/25/23	4/24/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025
Net sales ¹	-	2,254	1,906	2,552	3,497
EBITDA ¹	-	425.9	326.7	414	491
EBIT ¹	-	393.8	288.1	350	531
Operating Margin	-	17.47%	15.11%	13.71%	15.18%
Earnings before Tax (EBT) ¹	-	465.2	326.3	350	533
Net income ¹	293.2	391.3	278.4	299	450.5
Net margin	-	17.36%	14.61%	11.72%	12.88%
EPS ²	0.3933	0.5248	0.3672	0.4000	0.6045
Free Cash Flow ¹	-	187.5	-236	-115	133
FCF margin	-	8.32%	-12.38%	-4.51%	3.8%
FCF Conversion (EBITDA)	-	44.03%	-	-	27.09%
FCF Conversion (Net income)	-	47.93%	-	-	29.52%
Dividend per Share ²	-	0.2797	0.2727	0.2909	0.3364
Announcement Date	3/29/22	4/25/23	4/24/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 S1	2023 S2
Net sales ¹	-	1,039
EBITDA	-	-
EBIT ¹	-	128.1
Operating Margin	-	12.33%
Earnings before Tax (EBT) ¹	-	134.2
Net income ¹	160.6	117.9
Net margin	-	11.34%
EPS ²	0.2154	0.1454
Dividend per Share	-	-
Announcement Date	8/25/23	4/24/24

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-
Net Cash position	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow ¹	-	188	-236	-115	133
ROE (net income / shareholders' equity)	-	22.2%	14.6%	14.6%	18.7%
ROA (Net income/ Total Assets)	-	18.5%	8.51%	8.6%	9.1%
Assets ¹	-	2,115	3,271	3,477	4,951
Book Value Per Share ²	-	2.510	2.600	2.800	3.230
Cash Flow per Share ²	-	0.8300	0.3400	0.3200	0.4500
Capex ¹	-	434	492	250	339
Capex / Sales	-	19.24%	25.81%	9.8%	9.68%
Announcement Date	3/29/22	4/25/23	4/24/24	-	-

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

Ratings for Sichuan Furong Technology Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.08 CNY

Average target price

15.45 CNY

Spread / Average Target

+18.15%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Metallic Rolling & Drawing Products

	1st Jan change	Capi.
SICHUAN FURONG TECHNOLOGY CO., LTD.	+7.94%	1.34B
BORUSAN MANNESMANN BORU SANAYI VE TICARET	-28.17%	1.86B
ALLEIMA AB	-1.85%	1.74B
HANWA CO., LTD.	+21.52%	1.51B
FANGDA SPECIAL STEEL TECHNOLOGY CO., LTD.	-16.49%	1.23B
TIANJIN YOU FA STEEL PIPE GROUP STOCK CO., LTD.	-16.91%	990M
YONGJIN TECHNOLOGY GROUP CO., LTD.	-6.34%	908M
JIANGSU CHANGBAO STEELTUBE CO.,LTD	-4.77%	638M
GUIZHOU WIRE ROPE INCORPORATED COMPANY	+9.19%	593M
AL YAMAMAH STEEL INDUSTRIES COMPANY	+50.57%	500M

Metallic Rolling & Drawing Products