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2493

Rongsheng Petrochemical SZSE:002493 Stock Report

Last Price

CN¥16.40

Market Cap

CN¥166.1b

7D

6.8%

1Y

-18.9%

Updated

15 Aug, 2022

Data

Company Financials +
2493 fundamental analysis
Snowflake Score
Valuation5/6
Future Growth2/6
Past Performance4/6
Financial Health2/6
Dividends3/6

2493 Stock Overview

Rongsheng Petrochemical Co., Ltd. produces, markets, and sells petrochemicals, chemical fibers, and other related products.

Rongsheng Petrochemical Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Rongsheng Petrochemical
Historical stock prices
Current Share PriceCN¥16.40
52 Week HighCN¥23.33
52 Week LowCN¥12.18
Beta0.99
1 Month Change12.95%
3 Month Change15.01%
1 Year Change-18.93%
3 Year Change125.69%
5 Year Change271.23%
Change since IPO250.04%

Recent News & Updates

Shareholder Returns

2493CN ChemicalsCN Market
7D6.8%3.9%1.6%
1Y-18.9%-9.4%-10.1%

Return vs Industry: 002493 underperformed the CN Chemicals industry which returned -9.4% over the past year.

Return vs Market: 002493 underperformed the CN Market which returned -10.1% over the past year.

Price Volatility

Is 2493's price volatile compared to industry and market?
2493 volatility
2493 Average Weekly Movement5.3%
Chemicals Industry Average Movement6.2%
Market Average Movement6.0%
10% most volatile stocks in CN Market9.1%
10% least volatile stocks in CN Market3.9%

Stable Share Price: 002493 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 002493's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
199519,331Jiong Jiong Xianghttps://www.cnrspc.com

Rongsheng Petrochemical Co., Ltd. produces, markets, and sells petrochemicals, chemical fibers, and other related products. It offers synthetic fibers and films; olefins and downstream; aromatics and downstream; gasoline, diesel, and kerosene; purified terephthalic acid; polyester chips; polyester bottle flakes; polyester pre-oriented yarns; polyester fully drawn yarns; and polyester textured yarns. The company also provides polystyrene resin, ABS resin, SAN resin, styrene butadiene rubber, ion exchange resin, unsaturated resin, styrene thermoplastic elastomer, methyl methacrylate, and purified terephthalic acids; synthetic resins, such as low density polyethylene, linear low density polyethylene, high density polyethylene, and polypropylene; and polycarbonate, xylene, ethylene, methyl methacrylate, bisphenol A, and acrylonitrile.

Rongsheng Petrochemical Fundamentals Summary

How do Rongsheng Petrochemical's earnings and revenue compare to its market cap?
2493 fundamental statistics
Market CapCN¥166.06b
Earnings (TTM)CN¥13.32b
Revenue (TTM)CN¥211.04b

12.5x

P/E Ratio

0.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2493 income statement (TTM)
RevenueCN¥211.04b
Cost of RevenueCN¥158.98b
Gross ProfitCN¥52.06b
Other ExpensesCN¥38.74b
EarningsCN¥13.32b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.32
Gross Margin24.67%
Net Profit Margin6.31%
Debt/Equity Ratio161.4%

How did 2493 perform over the long term?

See historical performance and comparison

Dividends

0.9%

Current Dividend Yield

11%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 2493 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • 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 2493?

Other financial metrics that can be useful for relative valuation.

2493 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/Revenue1.7x
Enterprise Value/EBITDA8.5x
PEG Ratio1x

Price to Earnings Ratio vs Peers

How does 2493's PE Ratio compare to its peers?

2493 PE Ratio vs Peers
The above table shows the PE ratio for 2493 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average29.6x
000301 Jiangsu Eastern Shenghong
39.4x39.9%CN¥147.4b
600346 Hengli PetrochemicalLtd
9.3x20.7%CN¥145.6b
002812 Yunnan Energy New Material
60.1x36.2%CN¥192.2b
002648 Satellite ChemicalLtd
9.6x20.2%CN¥64.9b
002493 Rongsheng Petrochemical
12.5x11.9%CN¥166.1b

Price-To-Earnings vs Peers: 002493 is good value based on its Price-To-Earnings Ratio (12.5x) compared to the peer average (29.6x).


Price to Earnings Ratio vs Industry

How does 2493's PE Ratio compare vs other companies in the CN Chemicals Industry?

Price-To-Earnings vs Industry: 002493 is good value based on its Price-To-Earnings Ratio (12.5x) compared to the CN Chemicals industry average (30x)


Price to Earnings Ratio vs Fair Ratio

What is 2493'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.

2493 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.5x
Fair PE Ratio21.2x

Price-To-Earnings vs Fair Ratio: 002493 is good value based on its Price-To-Earnings Ratio (12.5x) compared to the estimated Fair Price-To-Earnings Ratio (21.2x).


Share Price vs Fair Value

What is the Fair Price of 2493 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002493 (CN¥16.4) is trading below our estimate of fair value (CN¥28.54)

Significantly Below Fair Value: 002493 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 Rongsheng Petrochemical forecast to perform in the next 1 to 3 years based on estimates from 11 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


11.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 002493's forecast earnings growth (11.9% per year) is above the savings rate (3.2%).

Earnings vs Market: 002493's earnings (11.9% per year) are forecast to grow slower than the CN market (24.5% per year).

High Growth Earnings: 002493's earnings are forecast to grow, but not significantly.

Revenue vs Market: 002493's revenue (5.9% per year) is forecast to grow slower than the CN market (17.7% per year).

High Growth Revenue: 002493's revenue (5.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 002493's Return on Equity is forecast to be high in 3 years time (23.1%)


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Past Performance

How has Rongsheng Petrochemical 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


46.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 002493 has high quality earnings.

Growing Profit Margin: 002493's current net profit margins (6.3%) are lower than last year (7.2%).


Past Earnings Growth Analysis

Earnings Trend: 002493's earnings have grown significantly by 46.5% per year over the past 5 years.

Accelerating Growth: 002493's earnings growth over the past year (53%) exceeds its 5-year average (46.5% per year).

Earnings vs Industry: 002493 earnings growth over the past year (53%) exceeded the Chemicals industry 23.2%.


Return on Equity

High ROE: Whilst 002493's Return on Equity (24.44%) is high, this metric is skewed due to their high level of debt.


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Financial Health

How is Rongsheng Petrochemical's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 002493's short term assets (CN¥98.3B) do not cover its short term liabilities (CN¥135.2B).

Long Term Liabilities: 002493's short term assets (CN¥98.3B) do not cover its long term liabilities (CN¥113.4B).


Debt to Equity History and Analysis

Debt Level: 002493's net debt to equity ratio (133.8%) is considered high.

Reducing Debt: 002493's debt to equity ratio has increased from 129.2% to 161.4% over the past 5 years.

Debt Coverage: 002493's debt is well covered by operating cash flow (28.8%).

Interest Coverage: 002493's interest payments on its debt are well covered by EBIT (14.2x coverage).


Balance Sheet


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Dividend

What is Rongsheng Petrochemical current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.91%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 002493's dividend (0.91%) is higher than the bottom 25% of dividend payers in the CN market (0.45%).

High Dividend: 002493's dividend (0.91%) is low compared to the top 25% of dividend payers in the CN market (1.88%).


Stability and Growth of Payments

Stable Dividend: 002493's dividend payments have been volatile in the past 10 years.

Growing Dividend: 002493's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (11.4%), 002493's dividend payments are thoroughly covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: 002493 is paying a dividend but the company has no free cash flows.


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Management

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

CN¥3m

CEO Compensation


CEO

Jiong Jiong Xiang (38 yo)

no data

Tenure

CN¥2,623,900

Compensation

Mr. Jiong Jiong Xiang serves as General Manager at Rongsheng Petrochemical Co., Ltd. and also served as its Secretary of the Board of Directors. Mr. Xiang serves as an Assistant to the Chairman of Rongshen...


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.


Top Shareholders

Company Information

Rongsheng Petrochemical Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Rongsheng Petrochemical Co., Ltd.
  • Ticker: 2493
  • Exchange: SZSE
  • Founded: 1995
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Implied Market Cap: CN¥166.059b
  • Shares outstanding: 10.13b
  • Website: https://www.cnrspc.com

Number of Employees


Location

  • Rongsheng Petrochemical Co., Ltd.
  • Rongsheng Holding Group Buildin
  • Yinong Town
  • Hangzhou
  • Zhejiang Province
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/15 00:00
End of Day Share Price2022/08/15 00:00
Earnings2022/03/31
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.