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2372

Zhejiang Weixing New Building Materials SZSE:002372 Stock Report

Last Price

CN¥20.60

Market Cap

CN¥32.4b

7D

10.3%

1Y

22.0%

Updated

02 Oct, 2022

Data

Company Financials +
2372 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance3/6
Financial Health6/6
Dividends6/6

2372 Stock Overview

Zhejiang Weixing New Building Materials Co., Ltd.

Zhejiang Weixing New Building Materials Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Zhejiang Weixing New Building Materials
Historical stock prices
Current Share PriceCN¥20.60
52 Week HighCN¥25.45
52 Week LowCN¥16.09
Beta0.67
1 Month Change1.18%
3 Month Change-13.41%
1 Year Change21.97%
3 Year Change29.56%
5 Year Change85.76%
Change since IPO380.16%

Recent News & Updates

Shareholder Returns

2372CN BuildingCN Market
7D10.3%0.7%-2.3%
1Y22.0%-8.5%-19.2%

Return vs Industry: 002372 exceeded the CN Building industry which returned -8.5% over the past year.

Return vs Market: 002372 exceeded the CN Market which returned -19.2% over the past year.

Price Volatility

Is 2372's price volatile compared to industry and market?
2372 volatility
2372 Average Weekly Movement5.9%
Building Industry Average Movement5.8%
Market Average Movement5.8%
10% most volatile stocks in CN Market9.2%
10% least volatile stocks in CN Market3.8%

Stable Share Price: 002372 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 002372's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19994,419Hongyang Jinhttps://www.vasen.com

Zhejiang Weixing New Building Materials Co., Ltd. engages in the manufacture and sale of plastic pipes in China. The company’s products include PPR, PE, polypropylene-random-copolymer, PE-XB, F-PPR, and PP-R/AL pipes for water supplying applications; PE corrugated, PVC-U, and PE pipes for sewerage applications; PB-R, PE-RT II, PE-RT I, PB, and PB-XB pipes for heating applications; and hoses and plumbing accessories.

Zhejiang Weixing New Building Materials Fundamentals Summary

How do Zhejiang Weixing New Building Materials's earnings and revenue compare to its market cap?
2372 fundamental statistics
Market CapCN¥32.41b
Earnings (TTM)CN¥1.17b
Revenue (TTM)CN¥6.50b

27.6x

P/E Ratio

5.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2372 income statement (TTM)
RevenueCN¥6.50b
Cost of RevenueCN¥3.99b
Gross ProfitCN¥2.51b
Other ExpensesCN¥1.34b
EarningsCN¥1.17b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.75
Gross Margin38.65%
Net Profit Margin18.06%
Debt/Equity Ratio0%

How did 2372 perform over the long term?

See historical performance and comparison

Dividends

2.9%

Current Dividend Yield

80%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 2372 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 2372?

Other financial metrics that can be useful for relative valuation.

2372 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/Revenue4.7x
Enterprise Value/EBITDA21.1x
PEG Ratio1.6x

Price to Earnings Ratio vs Peers

How does 2372's PE Ratio compare to its peers?

2372 PE Ratio vs Peers
The above table shows the PE ratio for 2372 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average43.5x
002791 Guangdong KinLong Hardware ProductsLtd
67x42.8%CN¥28.5b
000786 Beijing New Building Materials
12.3x16.4%CN¥40.6b
601636 Zhuzhou Kibing GroupLtd
8.3x28.3%CN¥25.9b
300260 Kunshan Kinglai Hygienic MaterialsLtd
86.5x29.9%CN¥22.3b
002372 Zhejiang Weixing New Building Materials
27.6x17.6%CN¥32.4b

Price-To-Earnings vs Peers: 002372 is good value based on its Price-To-Earnings Ratio (27.6x) compared to the peer average (43.5x).


Price to Earnings Ratio vs Industry

How does 2372's PE Ratio compare vs other companies in the CN Building Industry?

Price-To-Earnings vs Industry: 002372 is expensive based on its Price-To-Earnings Ratio (27.6x) compared to the CN Building industry average (26.4x)


Price to Earnings Ratio vs Fair Ratio

What is 2372'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.

2372 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.6x
Fair PE Ratio23.6x

Price-To-Earnings vs Fair Ratio: 002372 is expensive based on its Price-To-Earnings Ratio (27.6x) compared to the estimated Fair Price-To-Earnings Ratio (23.6x).


Share Price vs Fair Value

What is the Fair Price of 2372 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002372 (CN¥20.6) is trading below our estimate of fair value (CN¥26.78)

Significantly Below Fair Value: 002372 is trading below fair value by more than 20%.


Analyst Price Targets

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

Analyst Forecast: Target price is less than 20% higher than the current share price.


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Future Growth

How is Zhejiang Weixing New Building Materials forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


17.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 002372's forecast earnings growth (17.6% per year) is above the savings rate (3.2%).

Earnings vs Market: 002372's earnings (17.6% per year) are forecast to grow slower than the CN market (25.8% per year).

High Growth Earnings: 002372's earnings are forecast to grow, but not significantly.

Revenue vs Market: 002372's revenue (14.8% per year) is forecast to grow slower than the CN market (18.1% per year).

High Growth Revenue: 002372's revenue (14.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 002372's Return on Equity is forecast to be high in 3 years time (29.4%)


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Past Performance

How has Zhejiang Weixing New Building Materials performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


9.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 002372 has high quality earnings.

Growing Profit Margin: 002372's current net profit margins (18.1%) are lower than last year (22%).


Past Earnings Growth Analysis

Earnings Trend: 002372's earnings have grown by 9.5% per year over the past 5 years.

Accelerating Growth: 002372's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 002372 had negative earnings growth (-6%) over the past year, making it difficult to compare to the Building industry average (-5.9%).


Return on Equity

High ROE: 002372's Return on Equity (27%) is considered high.


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Financial Health

How is Zhejiang Weixing New Building Materials'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: 002372's short term assets (CN¥3.6B) exceed its short term liabilities (CN¥1.3B).

Long Term Liabilities: 002372's short term assets (CN¥3.6B) exceed its long term liabilities (CN¥46.3M).


Debt to Equity History and Analysis

Debt Level: 002372 is debt free.

Reducing Debt: 002372 had no debt 5 years ago.

Debt Coverage: 002372 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 002372 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Zhejiang Weixing New Building Materials's current dividend yield, its reliability and sustainability?

Dividend Score

6/6

Dividend Score 6/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.91%

Current Dividend Yield

Dividend Yield vs Market

Zhejiang Weixing New Building Materials Dividend Yield vs Market
How does Zhejiang Weixing New Building Materials dividend yield compare to the market?
SegmentDividend Yield
Company (Zhejiang Weixing New Building Materials)2.9%
Market Bottom 25% (CN)0.5%
Market Top 25% (CN)2.2%
Industry Average (Building)2.4%
Analyst forecast in 3 Years (Zhejiang Weixing New Building Materials)3.8%

Notable Dividend: 002372's dividend (2.91%) is higher than the bottom 25% of dividend payers in the CN market (0.55%).

High Dividend: 002372's dividend (2.91%) is in the top 25% of dividend payers in the CN market (2.16%)


Stability and Growth of Payments

Stable Dividend: 002372's dividends per share have been stable in the past 10 years.

Growing Dividend: 002372's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (80.2%), 002372's payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (88%), 002372's dividend payments are covered by cash flows.


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Management

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

CN¥2m

CEO Compensation


CEO

Hongyang Jin (55 yo)

no data

Tenure

CN¥1,850,000

Compensation

Mr. Hongyang Jin serves as Chairman of the Board of Directors and General manager at Zhejiang Weixing New Building Materials Co., Ltd.


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

What is the ownership structure of 2372?
Owner TypeNumber of SharesOwnership Percentage
State or Government26,783,4571.7%
Individual Insiders153,047,9659.7%
Institutions255,907,98316.3%
General Public271,214,01917.2%
Private Companies866,159,56455.1%

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


Top Shareholders

Top 25 shareholders own 72.36% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
38.35%
Weixing Group Co.,Ltd.
603,359,564CN¥12.4b0%no data
16.71%
Linhai Huixing Group Co., Ltd.
262,800,000CN¥5.4b0%no data
5.25%
Kapeng Zhang
82,538,434CN¥1.7b0%no data
1.99%
Sanyun Zhang
31,269,218CN¥644.1m0%no data
1.8%
Capital Research and Management Company
28,383,526CN¥584.7m0%0.01%
1.8%
National Council for Social Security Fund
28,286,362CN¥582.7m43.86%0.11%
1.13%
Hong Kong Monetary Authority
17,736,865CN¥365.4m-2.62%no data
1.05%
Hongyang Jin
16,563,013CN¥341.2m0%no data
0.83%
Jin Kun Xie
13,004,600CN¥267.9m0%no data
0.58%
Monetary Authority of Macao
9,046,592CN¥186.4m0%no data
0.43%
Fidelity International Ltd
6,826,035CN¥140.6m0%0.01%
0.38%
Anmen Chen
6,018,100CN¥124.0m0%no data
0.36%
Fullgoal Fund Management Co., Ltd.
5,641,905CN¥116.2m0%0.05%
0.29%
TD Asset Management, Inc.
4,563,711CN¥94.0m-14.5%0.01%
0.27%
China Universal Asset Management Company Ltd.
4,277,220CN¥88.1m0%0.04%
0.26%
The Vanguard Group, Inc.
4,082,346CN¥84.1m0%no data
0.23%
Jinxiu Qi
3,654,600CN¥75.3m0%no data
0.18%
Strategic Advisers LLC
2,838,597CN¥58.5m0.12%0.01%
0.096%
Allianz Asset Management AG
1,509,524CN¥31.1m0%no data
0.08%
Amundi Asset Management
1,262,265CN¥26.0m185.45%no data
0.076%
Union Asset Management Holding AG
1,199,268CN¥24.7m0%no data
0.065%
CCB Principal Asset Management Co., Ltd.
1,021,400CN¥21.0m0%0.05%
0.056%
ICBC Credit Suisse Asset Management Co., Ltd.
882,685CN¥18.2m0%0.01%
0.049%
Wellington Management Group LLP
774,000CN¥15.9m0%no data
0.049%
E Fund Management Co., Ltd.
772,280CN¥15.9m21.03%no data

Company Information

Zhejiang Weixing New Building Materials Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Zhejiang Weixing New Building Materials Co., Ltd.
  • Ticker: 2372
  • Exchange: SZSE
  • Founded: 1999
  • Industry: Building Products
  • Sector: Capital Goods
  • Implied Market Cap: CN¥32.406b
  • Shares outstanding: 1.57b
  • Website: https://www.vasen.com

Number of Employees


Location

  • Zhejiang Weixing New Building Materials Co., Ltd.
  • No. 688, Jiangshi West Road
  • Linhai
  • Zhejiang Province
  • China


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2372SZSE (Shenzhen Stock Exchange)YesDomestic SharesCNCNYMar 2010
2372XSEC (Shenzhen Stock Exchange - Shenzhen-Hong Kong Stock Connect)YesDomestic SharesCNCNYMar 2010

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/02 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.