Shenyang Jinbei Automotive (SHSE:600609) - Share price, News & Analysis

Q: What is the Fair Price of 600609 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

600609 (CN¥5.21) is trading above our estimate of [[fair value]] (CN¥2.15)

600609 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	4/6
Financial Health	6/6
Dividends	0/6

600609 Stock Overview

Shenyang Jinbei Automotive Company Limited engages in the design, production, and sale of auto parts in China.

Rewards

Price-To-Earnings ratio (37.4x) is below the Auto Components industry average (51.7x)

Became profitable this year

Risk Analysis

Volatile share price over the past 3 months

Shenyang Jinbei Automotive Competitors

Beijing WKW Automotive PartsLtd

SZSE:002662

CN¥5.8b

Zhejiang Changhua Auto Parts

SHSE:605018

CN¥7.1b

WINBO-Dongjian Automotive Technology

SZSE:300978

CN¥7.5b

Zhejiang Songyuan Automotive Safety SystemsLtd

SZSE:300893

CN¥7.3b

Price History & Performance

Summary of all time highs, changes and price drops for Shenyang Jinbei Automotive
Historical stock prices
Current Share Price	CN¥5.21
52 Week High	CN¥7.44
52 Week Low	CN¥4.44
Beta	0.52
1 Month Change	-16.77%
3 Month Change	-2.25%
1 Year Change	-2.07%
3 Year Change	45.94%
5 Year Change	n/a
Change since IPO	178.61%

Shareholder Returns

	600609	CN Auto Components	CN Market
7D	3.2%	-0.4%	1.6%
1Y	-2.1%	7.7%	-10.1%

Return vs Industry: 600609 underperformed the CN Auto Components industry which returned 7.7% over the past year.

Return vs Market: 600609 exceeded the CN Market which returned -10.1% over the past year.

Price Volatility

Is 600609's price volatile compared to industry and market?
600609 volatility
600609 Average Weekly Movement	7.7%
Auto Components Industry Average Movement	7.7%
Market Average Movement	6.0%
10% most volatile stocks in CN Market	9.2%
10% least volatile stocks in CN Market	3.9%

Stable Share Price: 600609 is more volatile than 75% of CN stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: 600609's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of CN stocks.

About the Company

Founded	Employees	CEO	Website
n/a	2,675	Xiao Min Xu

Shenyang Jinbei Automotive Company Limited engages in the design, production, and sale of auto parts in China. The company offers auto interior parts, seats, rubber parts, etc. It serves automobile manufacturers. The company is headquartered in Shenyang, China.

Shenyang Jinbei Automotive Fundamentals Summary

How do Shenyang Jinbei Automotive's earnings and revenue compare to its market cap?
600609 fundamental statistics
Market Cap	CN¥6.83b
Earnings (TTM)	CN¥182.88m
Revenue (TTM)	CN¥4.98b

37.4x

P/E Ratio

1.4x

P/S Ratio

Is 600609 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
600609 income statement (TTM)
Revenue	CN¥4.98b
Cost of Revenue	CN¥4.10b
Gross Profit	CN¥882.95m
Other Expenses	CN¥700.08m
Earnings	CN¥182.88m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.14
Gross Margin	17.72%
Net Profit Margin	3.67%
Debt/Equity Ratio	86.4%

How did 600609 perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is 600609 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600609?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 600609. This is calculated by dividing 600609's market cap by their current preferred multiple.
What is 600609's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	CN¥6.83b

600609 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.4x
Enterprise Value/EBITDA	13x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 600609's PE Ratio compare to its peers?

600609 PE Ratio vs Peers

The above table shows the PE ratio for 600609 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	63.6x
002662 Beijing WKW Automotive PartsLtd	46.9x	n/a	CN¥5.8b
605018 Zhejiang Changhua Auto Parts	46x	n/a	CN¥7.1b
300978 WINBO-Dongjian Automotive Technology	94.5x	n/a	CN¥7.5b
300893 Zhejiang Songyuan Automotive Safety SystemsLtd	67.2x	n/a	CN¥7.3b
600609 Shenyang Jinbei Automotive	37.4x	n/a	CN¥6.8b

Price-To-Earnings vs Peers: 600609 is good value based on its Price-To-Earnings Ratio (37.4x) compared to the peer average (63.6x).

Price to Earnings Ratio vs Industry

How does 600609's PE Ratio compare vs other companies in the CN Auto Components Industry?

Price-To-Earnings vs Industry: 600609 is good value based on its Price-To-Earnings Ratio (37.4x) compared to the CN Auto Components industry average (51.7x)

Price to Earnings Ratio vs Fair Ratio

What is 600609's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

600609 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	37.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 600609's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 600609 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600609 (CN¥5.21) is trading above our estimate of fair value (CN¥2.15)

Significantly Below Fair Value: 600609 is trading above our estimate of fair value.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Shenyang Jinbei Automotive forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

33.9%

Forecasted Automobiles industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Shenyang Jinbei Automotive has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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Check out Shenyang Jinbei Automotive's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.

Past Performance

How has Shenyang Jinbei Automotive performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-0.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 600609 has high quality earnings.

Growing Profit Margin: 600609 became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: 600609 has become profitable over the past 5 years, growing earnings by -0.7% per year.

Accelerating Growth: 600609 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: 600609 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Auto Components industry (-16.7%).

Return on Equity

High ROE: 600609's Return on Equity (30.9%) is considered high.

Discover strong past performing companies

Financial Health

How is Shenyang Jinbei Automotive's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 600609's short term assets (CN¥2.9B) exceed its short term liabilities (CN¥2.7B).

Long Term Liabilities: 600609's short term assets (CN¥2.9B) exceed its long term liabilities (CN¥560.5M).

Debt to Equity History and Analysis

Debt Level: 600609 has more cash than its total debt.

Reducing Debt: 600609's debt to equity ratio has reduced from 1976.2% to 86.4% over the past 5 years.

Debt Coverage: 600609's debt is well covered by operating cash flow (42.7%).

Interest Coverage: 600609's interest payments on its debt are well covered by EBIT (14.1x coverage).

Balance Sheet

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Dividend

What is Shenyang Jinbei Automotive current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate 600609's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 600609's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 600609's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 600609's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 600609 has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure

CEO

Xiao Min Xu (58 yo)

3yrs

Tenure

CN¥400,000

Compensation

Mr. Xiao Min Xu is President and Director of Shenyang Jinbei Automotive Company Limited from August 06, 2019. He served as Vice President of Shenyang Jinbei Automotive Company Limited. He used to be the as...

Leadership Team

Experienced Management: 600609's management team is considered experienced (3 years average tenure).

Board Members

Experienced Board: 600609's board of directors are considered experienced (3 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/08/13 00:00
End of Day Share Price	2022/08/12 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31