Financials Seazen Holdings Co., Ltd

Equities

601155

CNE100002BF8

Real Estate Development & Operations

End-of-day quote Shanghai S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
9.11 CNY +6.18% Intraday chart for Seazen Holdings Co., Ltd +12.75% -20.16%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 86,929 78,522 65,836 46,191 25,737 20,549 - -
Enterprise Value (EV) 1 90,870 104,593 101,677 85,994 63,649 74,261 64,264 74,839
P/E ratio 6.9 x 5.14 x 5.22 x 33.1 x 34.6 x 31.7 x 13.5 x 20.9 x
Yield 4.39% 5.89% - - - - - -
Capitalization / Revenue 1.01 x 0.54 x 0.39 x 0.4 x 0.22 x 0.21 x 0.23 x 0.22 x
EV / Revenue 1.06 x 0.72 x 0.6 x 0.74 x 0.53 x 0.74 x 0.71 x 0.79 x
EV / EBITDA 5.06 x 4.68 x 5.5 x 26.1 x 13.4 x 12.8 x 9.09 x 9.92 x
EV / FCF 3.49 x -5.22 x 16.7 x 13.2 x 7.45 x -15.7 x -14 x -
FCF Yield 28.7% -19.1% 5.97% 7.58% 13.4% -6.39% -7.14% -
Price to Book 2.27 x 1.55 x 1.11 x 0.78 x 0.43 x 0.34 x 0.31 x 0.32 x
Nbr of stocks (in thousands) 2,245,061 2,254,443 2,260,064 2,253,243 2,255,623 2,255,623 - -
Reference price 2 38.72 34.83 29.13 20.50 11.41 9.110 9.110 9.110
Announcement Date 3/27/20 3/26/21 3/30/22 3/31/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 85,847 145,475 168,232 115,457 119,174 99,887 90,282 95,240
EBITDA 1 17,971 22,345 18,488 3,299 4,753 5,815 7,067 7,541
EBIT 1 17,648 22,018 18,227 3,033 4,474 4,078 5,712 4,866
Operating Margin 20.56% 15.14% 10.83% 2.63% 3.75% 4.08% 6.33% 5.11%
Earnings before Tax (EBT) 1 17,813 22,237 18,318 3,115 4,572 3,801 4,808 5,057
Net income 1 12,654 15,256 12,598 1,394 737.1 744.9 1,290 981
Net margin 14.74% 10.49% 7.49% 1.21% 0.62% 0.75% 1.43% 1.03%
EPS 2 5.610 6.780 5.580 0.6200 0.3300 0.2875 0.6741 0.4353
Free Cash Flow 1 26,044 -20,018 6,071 6,523 8,547 -4,745 -4,591 -
FCF margin 30.34% -13.76% 3.61% 5.65% 7.17% -4.75% -5.09% -
FCF Conversion (EBITDA) 144.92% - 32.84% 197.69% 179.82% - - -
FCF Conversion (Net income) 205.82% - 48.19% 467.96% 1,159.52% - - -
Dividend per Share 2 1.700 2.050 - - - - - -
Announcement Date 3/27/20 3/26/21 3/30/22 3/31/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 30,017 59,109 18,678 24,125 18,951 53,703 16,252 25,516 29,511 47,895 - - - - -
EBITDA - - - 3,397 - - - - - - - - - - -
EBIT 1 2,723 8,728 770.1 3,643 600.3 -1,981 928.4 2,381 180.3 984.6 773.8 2,321 1,161 3,482 767.8
Operating Margin 9.07% 14.77% 4.12% 15.1% 3.17% -3.69% 5.71% 9.33% 0.61% 2.06% - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income - - - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - - - -
EPS 2 0.7000 2.980 0.2300 1.100 0.1500 -0.8600 0.2900 0.7200 0.0900 -0.7700 0.1804 0.5412 0.2706 0.8118 0.1709
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 10/28/21 3/30/22 4/29/22 8/30/22 10/28/22 3/31/23 4/28/23 8/30/23 10/27/23 3/28/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 3,942 26,071 35,841 39,802 37,912 53,713 43,715 54,290
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.2193 x 1.167 x 1.939 x 12.06 x 7.977 x 9.238 x 6.186 x 7.199 x
Free Cash Flow 1 26,044 -20,018 6,071 6,523 8,547 -4,745 -4,591 -
ROE (net income / shareholders' equity) 36.9% 33.9% 22.7% 2.34% 1.23% 0.94% 3.24% 1.47%
ROA (Net income/ Total Assets) 3.19% 3.05% 2.35% - 0.18% 0.11% 0.43% 0.54%
Assets 1 396,181 499,862 536,023 - 415,972 709,448 299,599 183,030
Book Value Per Share 2 17.00 22.40 26.20 26.40 26.60 27.10 29.30 28.10
Cash Flow per Share 2 19.30 0.1700 9.740 6.440 4.500 5.250 4.620 4.480
Capex 1 17,536 20,400 15,913 8,012 1,611 9,160 8,398 516
Capex / Sales 20.43% 14.02% 9.46% 6.94% 1.35% 9.17% 9.3% 0.54%
Announcement Date 3/27/20 3/26/21 3/30/22 3/31/23 3/28/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
9
Last Close Price
9.11 CNY
Average target price
9.647 CNY
Spread / Average Target
+5.89%
Consensus
  1. Stock Market
  2. Equities
  3. 601155 Stock
  4. Financials Seazen Holdings Co., Ltd