Financials Huasheng International Holding Limited

Equities

1323

KYG4643T1123

Construction Materials

Delayed Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
0.109 HKD +4.81% Intraday chart for Huasheng International Holding Limited +5.83% -16.79%

Valuation

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Capitalization 1 1,142 1,309 1,801 2,904 447.9 419.8
Enterprise Value (EV) 1 1,276 1,436 2,123 3,124 605.9 709.2
P/E ratio 77.7 x -83.4 x -18.8 x 63.8 x 14.3 x -7.57 x
Yield - - - 0.36% - -
Capitalization / Revenue 9.87 x 11.4 x 8.44 x 3.16 x 0.52 x 0.64 x
EV / Revenue 11 x 12.5 x 9.95 x 3.4 x 0.7 x 1.07 x
EV / EBITDA 534 x 125 x 121 x 42.5 x 7.91 x 9.88 x
EV / FCF -5.48 x -20.7 x -8.1 x -33.5 x 14 x 24.8 x
FCF Yield -18.2% -4.83% -12.3% -2.98% 7.14% 4.03%
Price to Book 2.97 x 3.31 x 2.44 x 3.16 x 0.47 x 0.44 x
Nbr of stocks (in thousands) 237,878 242,378 327,476 349,910 349,910 419,810
Reference price 2 4.800 5.400 5.500 8.300 1.280 1.000
Announcement Date 7/19/18 7/29/19 7/7/20 7/14/21 7/14/22 7/10/23
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net sales 1 115.7 115.2 213.5 919.3 864.5 660.4
EBITDA 1 2.391 11.52 17.5 73.49 76.63 71.75
EBIT 1 0.775 10.24 10.8 49.21 53.23 54.13
Operating Margin 0.67% 8.9% 5.06% 5.35% 6.16% 8.2%
Earnings before Tax (EBT) 1 -27.35 -4.231 -82.87 19.93 32.14 -47.27
Net income 1 14.7 -15.54 -78.23 43.89 31.29 -54.77
Net margin 12.71% -13.49% -36.65% 4.77% 3.62% -8.29%
EPS 2 0.0618 -0.0648 -0.2923 0.1300 0.0894 -0.1322
Free Cash Flow 1 -232.7 -69.3 -262.1 -93.23 43.24 28.59
FCF margin -201.05% -60.17% -122.77% -10.14% 5% 4.33%
FCF Conversion (EBITDA) - - - - 56.43% 39.85%
FCF Conversion (Net income) - - - - 138.19% -
Dividend per Share - - - 0.0300 - -
Announcement Date 7/19/18 7/29/19 7/7/20 7/14/21 7/14/22 7/10/23
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 134 127 322 220 158 289
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 56.14 x 11.04 x 18.38 x 2.99 x 2.062 x 4.032 x
Free Cash Flow 1 -233 -69.3 -262 -93.2 43.2 28.6
ROE (net income / shareholders' equity) -8.47% -3.07% -13.9% -0.14% 3.34% -4.69%
ROA (Net income/ Total Assets) 0.08% 0.94% 0.62% 1.89% 1.77% 1.77%
Assets 1 19,121 -1,646 -12,548 2,327 1,768 -3,096
Book Value Per Share 2 1.620 1.630 2.250 2.630 2.730 2.300
Cash Flow per Share 2 0.2800 0.1900 0.0600 0.3100 0.4000 0.1700
Capex 1 0.14 0.22 0.24 7.58 7 4.74
Capex / Sales 0.12% 0.19% 0.11% 0.82% 0.81% 0.72%
Announcement Date 7/19/18 7/29/19 7/7/20 7/14/21 7/14/22 7/10/23
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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