ZHEJIANG HUAYOU COBALT CO., LTD |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 21.13 CNY | -3.12% |
|
-5.46% | -35.83% |
| May. 30 | LME brand approval cements Indonesian nickel ascendancy: Andy Home | RE |
| May. 29 | LME brand approval cements Indonesian nickel ascendancy: Andy Home | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 42,489 | 90,502 | 134,714 | 88,892 | 56,313 | 35,862 | - | - |
| Enterprise Value (EV) 1 | 47,782 | 96,900 | 142,402 | 109,486 | 89,790 | 74,086 | 76,576 | 76,558 |
| P/E ratio | 358 x | 77 x | 34 x | 22.4 x | 16.1 x | 10.1 x | 7.28 x | 6.86 x |
| Yield | - | 0.25% | 0.27% | 0.36% | 3.04% | 0.88% | 1.19% | 2.59% |
| Capitalization / Revenue | 2.25 x | 4.27 x | 3.81 x | 1.41 x | 0.85 x | 0.49 x | 0.43 x | 0.37 x |
| EV / Revenue | 2.53 x | 4.57 x | 4.03 x | 1.74 x | 1.35 x | 1.02 x | 0.92 x | 0.79 x |
| EV / EBITDA | 61.6 x | 42.3 x | 23.7 x | 13.7 x | 11.1 x | 7.15 x | 6.15 x | 5.3 x |
| EV / FCF | -1,144 x | -54.9 x | -20.6 x | -8.24 x | -6.72 x | 1,398 x | 13.6 x | 9.74 x |
| FCF Yield | -0.09% | -1.82% | -4.85% | -12.1% | -14.9% | 0.07% | 7.33% | 10.3% |
| Price to Book | 5.48 x | 9.12 x | 6.95 x | 3.43 x | 1.72 x | 1 x | 0.9 x | 0.8 x |
| Nbr of stocks (in thousands) | 1,402,274 | 1,483,641 | 1,587,599 | 1,597,923 | 1,710,085 | 1,697,213 | - | - |
| Reference price 2 | 30.30 | 61.00 | 84.85 | 55.63 | 32.93 | 21.13 | 21.13 | 21.13 |
| Announcement Date | 3/27/20 | 3/29/21 | 4/22/22 | 4/27/23 | 4/19/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 18,853 | 21,187 | 35,317 | 63,034 | 66,304 | 72,661 | 82,830 | 97,184 |
| EBITDA 1 | 775.2 | 2,293 | 6,001 | 7,978 | 8,089 | 10,357 | 12,449 | 14,446 |
| EBIT 1 | 161 | 1,515 | 4,901 | 6,075 | 4,815 | 5,381 | 6,879 | 8,964 |
| Operating Margin | 0.85% | 7.15% | 13.88% | 9.64% | 7.26% | 7.41% | 8.31% | 9.22% |
| Earnings before Tax (EBT) 1 | 159.3 | 1,479 | 4,828 | 6,031 | 4,774 | 4,903 | 7,091 | 8,850 |
| Net income 1 | 119.5 | 1,165 | 3,898 | 3,910 | 3,351 | 3,583 | 4,228 | 5,266 |
| Net margin | 0.63% | 5.5% | 11.04% | 6.2% | 5.05% | 4.93% | 5.1% | 5.42% |
| EPS 2 | 0.0846 | 0.7923 | 2.492 | 2.480 | 2.050 | 2.096 | 2.902 | 3.082 |
| Free Cash Flow 1 | -41.78 | -1,765 | -6,907 | -13,285 | -13,363 | 53 | 5,612 | 7,860 |
| FCF margin | -0.22% | -8.33% | -19.56% | -21.08% | -20.15% | 0.07% | 6.78% | 8.09% |
| FCF Conversion (EBITDA) | - | - | - | - | - | 0.51% | 45.08% | 54.41% |
| FCF Conversion (Net income) | - | - | - | - | - | 1.48% | 132.74% | 149.25% |
| Dividend per Share 2 | - | 0.1538 | 0.2308 | 0.2000 | 1.000 | 0.1867 | 0.2520 | 0.5470 |
| Announcement Date | 3/27/20 | 3/29/21 | 4/22/22 | 4/27/23 | 4/19/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 S1 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 9,052 | - | - | 21,023 | - | - | 31,018 | - | - | 32,015 | - | - | 33,346 | - | - | 32,959 | - | - | 30,734 | - | - | 33,740 | 32,507 | 36,382 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | 2,865 | - | - | 3,559 | - | - | 2,516 | - | - | 3,257 | - | - | 1,558 | - | - | 1,938 | - | - | 1,874 | 1,857 | 2,181 |
| Operating Margin | - | - | - | 13.63% | - | - | 11.47% | - | - | 7.86% | - | - | 9.77% | - | - | 4.73% | - | - | 6.31% | - | - | 5.56% | 5.71% | 6% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | 349.7 | 1,468 | 1,529 | - | - | - | 2,256 | 752.3 | - | - | 1,024 | 1,061 | - | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | 3.86% | - | - | - | - | - | 7.27% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS 1 | - | 0.9462 | - | - | 0.7615 | 0.3600 | - | 0.5700 | 0.5600 | - | 0.6400 | 0.6800 | - | 0.5600 | 0.1700 | - | 0.3300 | 0.3200 | 0.6100 | 0.3700 | 0.3500 | 0.4700 | 0.6100 | 0.6300 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/28/20 | 8/16/21 | 4/22/22 | 4/22/22 | 4/27/22 | 8/19/22 | 8/19/22 | 10/29/22 | 4/27/23 | 4/27/23 | 4/27/23 | 8/25/23 | 8/25/23 | 10/24/23 | 4/19/24 | 4/19/24 | 4/19/24 | - | - | - | - | - | - | - |
1CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 5,293 | 6,398 | 7,689 | 20,594 | 33,477 | 38,224 | 40,713 | 40,696 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.828 x | 2.79 x | 1.281 x | 2.581 x | 4.139 x | 3.691 x | 3.27 x | 2.817 x |
| Free Cash Flow 1 | -41.8 | -1,765 | -6,907 | -13,285 | -13,363 | 53 | 5,612 | 7,860 |
| ROE (net income / shareholders' equity) | 1.56% | 12.7% | 23.5% | 17.2% | 11.1% | 8.97% | 11.4% | 12.8% |
| ROA (Net income/ Total Assets) | 0.57% | 4.64% | 9.18% | 4.64% | 2.84% | 3.37% | 4.13% | 4.59% |
| Assets 1 | 21,157 | 25,104 | 42,467 | 84,290 | 118,056 | 106,214 | 102,289 | 114,737 |
| Book Value Per Share 2 | 5.530 | 6.690 | 12.20 | 16.20 | 19.20 | 21.20 | 23.40 | 26.30 |
| Cash Flow per Share 2 | 1.850 | 1.250 | -0.0400 | 1.820 | 2.040 | 6.320 | 6.850 | 8.600 |
| Capex 1 | 2,641 | 3,625 | 6,845 | 16,198 | 16,817 | 11,475 | 8,699 | 9,062 |
| Capex / Sales | 14.01% | 17.11% | 19.38% | 25.7% | 25.36% | 15.79% | 10.5% | 9.32% |
| Announcement Date | 3/27/20 | 3/29/21 | 4/22/22 | 4/27/23 | 4/19/24 | - | - | - |
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
B+
Sell
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
21.13
CNY
Average target price
29.57
CNY
Spread / Average Target
+39.94%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -35.83% | 4.93B | |
| -.--% | 7.51B | |
| -11.93% | 3.56B | |
| +15.61% | 3.47B | |
| +37.23% | 3.51B | |
| -24.39% | 3.17B | |
| -39.19% | 2.89B | |
| -28.79% | 2.18B | |
| +23.48% | 1.87B | |
| +11.31% | 1.6B |
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