Haohua Chemical Science & Technology Valuation

Q: What is the Fair Price of 600378 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

600378 (CN¥30.29) is trading above our estimate of [[fair value]] (CN¥10.27)

Is 600378 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

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

Share Price vs Fair Value

What is the Fair Price of 600378 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600378 (CN¥30.29) is trading above our estimate of fair value (CN¥10.27)

Significantly Below Fair Value: 600378 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600378?

Key metric: As 600378 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 600378. This is calculated by dividing 600378's market cap by their current earnings.
What is 600378's PE Ratio?
PE Ratio	47.6x
Earnings	CN¥705.39m
Market Cap	CN¥33.58b

600378 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	5.6x
Enterprise Value/EBITDA	29.4x
PEG Ratio	1.3x

Price to Earnings Ratio vs Peers

How does 600378's PE Ratio compare to its peers?

The above table shows the PE ratio for 600378 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	31.8x
300037 Shenzhen Capchem Technology	36.2x	29.0%	CN¥33.2b
600352 Zhejiang Longsheng GroupLtd	16.6x	6.9%	CN¥33.0b
600873 MeiHua Holdings GroupLtd	10x	8.4%	CN¥30.1b
688065 Cathay Biotech	64.3x	n/a	CN¥25.6b
600378 Haohua Chemical Science & Technology	47.6x	35.9%	CN¥33.6b

Price-To-Earnings vs Peers: 600378 is expensive based on its Price-To-Earnings Ratio (47.6x) compared to the peer average (31.8x).

Price to Earnings Ratio vs Industry

How does 600378's PE Ratio compare vs other companies in the CN Chemicals Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 600378 is expensive based on its Price-To-Earnings Ratio (47.6x) compared to the CN Chemicals industry average (35.2x).

Price to Earnings Ratio vs Fair Ratio

What is 600378'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.

600378 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	47.6x
Fair PE Ratio	32.1x

Price-To-Earnings vs Fair Ratio: 600378 is expensive based on its Price-To-Earnings Ratio (47.6x) compared to the estimated Fair Price-To-Earnings Ratio (32.1x).

Analyst Price Targets

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

The above table shows the analyst 600378 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CN¥30.29	CN¥38.79 +28.0%	14.4%	CN¥44.37	CN¥33.20	n/a	2
Nov ’25	CN¥33.70	CN¥38.79 +15.1%	14.4%	CN¥44.37	CN¥33.20	n/a	2
Oct ’25	CN¥31.75	CN¥33.98 +7.0%	2.3%	CN¥34.76	CN¥33.20	n/a	2
Jan ’25	CN¥30.48	CN¥45.91 +50.6%	0.9%	CN¥46.32	CN¥45.50	n/a	2
Dec ’24	CN¥28.88	CN¥45.91 +59.0%	0.9%	CN¥46.32	CN¥45.50	n/a	2
Nov ’24	CN¥30.39	CN¥45.91 +51.1%	0.9%	CN¥46.32	CN¥45.50	CN¥33.70	2
Oct ’24	CN¥33.00	CN¥45.91 +39.1%	0.9%	CN¥46.32	CN¥45.50	CN¥31.75	2
Sep ’24	CN¥32.75	CN¥52.27 +59.6%	17.2%	CN¥65.00	CN¥45.50	CN¥26.91	3
Aug ’24	CN¥35.53	CN¥55.07 +55.0%	13.9%	CN¥65.00	CN¥46.32	CN¥28.21	3
Jul ’24	CN¥37.64	CN¥55.07 +46.3%	13.9%	CN¥65.00	CN¥46.32	CN¥29.29	3
Jun ’24	CN¥37.23	CN¥59.45 +59.7%	9.3%	CN¥65.00	CN¥53.90	CN¥30.25	2
May ’24	CN¥38.91	CN¥59.45 +52.8%	9.3%	CN¥65.00	CN¥53.90	CN¥31.09	2
Apr ’24	CN¥44.65	CN¥59.45 +33.1%	9.3%	CN¥65.00	CN¥53.90	CN¥34.03	2
Mar ’24	CN¥46.50	CN¥59.45 +27.8%	9.3%	CN¥65.00	CN¥53.90	CN¥32.02	2
Feb ’24	CN¥45.13	CN¥49.45 +9.6%	9.0%	CN¥53.90	CN¥45.00	CN¥26.11	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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