Financials Hubei Xingfa Chemicals Group Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
21.87 ^CNY	+2.15%		+3.21%	+19.84%

Apr. 27	Hubei Xingfa Chemicals Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 01	Hubei Xingfa Chemicals Group Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	10,570	12,347	42,112	32,238	20,288	24,128	-	-
Enterprise Value (EV) ¹	10,570	12,347	42,112	32,238	20,288	24,128	24,128	24,128
P/E ratio	31.2 x	18.4 x	9.92 x	5.57 x	15.6 x	12.9 x	10.4 x	9.32 x
Yield	0.97%	2.27%	1.32%	3.45%	3.29%	5.12%	4.01%	9.05%
Capitalization / Revenue	0.59 x	0.67 x	1.78 x	1.06 x	0.72 x	0.81 x	0.77 x	0.74 x
EV / Revenue	0.59 x	0.67 x	1.78 x	1.06 x	0.72 x	0.81 x	0.77 x	0.74 x
EV / EBITDA	7.3 x	6.59 x	5.92 x	3.25 x	5.32 x	5.02 x	4.67 x	4.19 x
EV / FCF	-	-	10.4 x	7.06 x	-21.1 x	8.23 x	5.02 x	5.1 x
FCF Yield	-	-	9.58%	14.2%	-4.73%	12.2%	19.9%	19.6%
Price to Book	1.3 x	1.31 x	3.05 x	1.6 x	0.99 x	1.09 x	1 x	0.97 x
Nbr of stocks (in thousands)	1,028,233	1,119,393	1,111,725	1,111,671	1,111,675	1,103,254	-	-
Reference price ²	10.28	11.03	37.88	29.00	18.25	21.87	21.87	21.87
Announcement Date	4/28/20	4/11/21	3/4/22	3/20/23	4/1/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	18,039	18,317	23,607	30,311	28,105	29,673	31,432	32,680
EBITDA ¹	1,448	1,873	7,117	9,905	3,810	4,802	5,162	5,752
EBIT ¹	483.2	773.6	5,901	8,213	1,747	2,487	3,163	3,420
Operating Margin	2.68%	4.22%	25%	27.09%	6.22%	8.38%	10.06%	10.47%
Earnings before Tax (EBT) ¹	456.5	706.6	5,390	7,871	1,716	2,420	3,074	3,315
Net income ¹	302.5	623.9	4,247	5,852	1,379	1,878	2,328	2,596
Net margin	1.68%	3.41%	17.99%	19.31%	4.91%	6.33%	7.41%	7.94%
EPS ²	0.3300	0.6000	3.820	5.210	1.170	1.700	2.101	2.347
Free Cash Flow ¹	-	-	4,035	4,566	-960.6	2,933	4,804	4,730
FCF margin	-	-	17.09%	15.06%	-3.42%	9.88%	15.28%	14.47%
FCF Conversion (EBITDA)	-	-	56.71%	46.09%	-	61.07%	93.06%	82.23%
FCF Conversion (Net income)	-	-	95.03%	78.02%	-	156.15%	206.31%	182.2%
Dividend per Share ²	0.1000	0.2500	0.5000	1.000	0.6000	1.120	0.8767	1.980
Announcement Date	4/28/20	4/11/21	3/4/22	3/20/23	4/1/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	4,035	4,566	-961	2,933	4,804	4,730
ROE (net income / shareholders' equity)	3.75%	7.31%	36.8%	34.8%	6.73%	8.3%	9.66%	10.3%
ROA (Net income/ Total Assets)	1.12%	2.16%	13.5%	14.9%	3.2%	3.9%	4.68%	5%
Assets ¹	26,957	28,860	31,542	39,174	43,095	48,163	49,772	51,920
Book Value Per Share ²	7.920	8.450	12.40	18.10	18.50	20.10	21.90	22.60
Cash Flow per Share ²	1.010	2.150	4.800	6.190	1.310	4.100	4.660	3.620
Capex ¹	1,054	851	1,302	2,318	2,414	2,423	2,136	1,196
Capex / Sales	5.84%	4.65%	5.51%	7.65%	8.59%	8.17%	6.8%	3.66%
Announcement Date	4/28/20	4/11/21	3/4/22	3/20/23	4/1/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

21.87 CNY

Average target price

24.09 CNY

Spread / Average Target

+10.16%

	1st Jan change	Capi.
HUBEI XINGFA CHEMICALS GROUP CO., LTD.	+19.84%	3.26B
AIR LIQUIDE	+4.70%	103B
SAUDI BASIC INDUSTRIES CORPORATION	+2.40%	65.6B
PT CHANDRA ASRI PACIFIC TBK	+42.86%	39.06B
WANHUA CHEMICAL GROUP CO., LTD.	+16.96%	37.58B
LYONDELLBASELL INDUSTRIES N.V.	+6.96%	33.26B
WESTLAKE CORPORATION	+7.89%	19.22B
NINGXIA BAOFENG ENERGY GROUP CO., LTD.	+12.12%	16.83B
RONGSHENG PETROCHEMICAL CO., LTD.	+12.08%	15.03B
HENGLI PETROCHEMICAL CO.,LTD.	+17.69%	14.96B