SSE: 688065 - Cathay Biotech Inc.

Yield per half year: +3.09%
Dividend yield: +0.96%
Sector: Materials

Reporting Cathay Biotech Inc.

Capitalization

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	LTM	5 year average	CAGR 5
Капитализация, млрд ¥						32.39
Выручка, млрд ¥	1.92	1.5	2.36	2.44	2.11	2.11	2.07	1.91
Чистая прибыль, млрд ¥	0.4789	0.4577	0.5947	0.5533	0.3665	0.3665	0.4902	-5.21
EV, млрд ¥						27.72
EBITDA, млрд ¥	0.6892	0.643	0.9248			0.5482	0.7523	10.30
Баланс стоимость, млрд ¥	4.64	10.38	10.65	10.95	11.16	11.16	9.56	19.19
FCF, млрд ¥	-0.1515	-0.2481	-0.8805	-3.39	-1	-1	-1.1340	45.85
Операционный денежный поток, млрд ¥	0.3596	0.515	0.5942	0.8037	0.5695	0.5695	0.5684	9.63
Операционная прибыль, млрд ¥	0.5663	0.4951	0.5354	0.4531	0.2733	0.2733	0.4646	-13.56
Операционные расходы, млрд ¥	1.35	1	1.83	1.99	1.84	1.84	1.60	6.39
CAPEX, млрд ¥	0.5111	0.7631	1.47	4.2	1.57	1.57	1.70	25.16

	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	5 quarters average	CAGR 5
Выручка, млрд ¥		0.6276	0.5489	0.6034	0.5054	0.525	0.5351	0.5487	0.6845	0.7598	0.7708	0.6598	7.57
Чистая прибыль, млрд ¥		0.1619	0.1497	0.0671	0.0574	0.1844	0.072	0.0526	0.1053	0.1422	0.0977	0.0940	6.29
EBITDA, млрд ¥	0.2193	0.2167	0.2007									0.2122	-2.91
Баланс стоимость, млрд ¥		10.76	10.88	10.95	11.01	11.08	11.14	11.16	11.25	11.28	11.39	11.24	0.44
FCF, млрд ¥		-0.8939	-0.883	-0.7042	-0.4078	-0.0361	-0.3669	-0.1895	-0.248	0.1187	0.1613	-0.1049	-184.84
Операционная прибыль, млрд ¥		0.122	0.0882	0.0833	0.0515	0.093	0.0727	0.0562	0.0963	0.1459	0.1344	0.1011	13.08
Операционные расходы, млрд ¥		0.5056	0.4607	0.52	0.454	0.432	0.4624	0.4925	0.5882	0.6139	0.6364	0.5587	6.60
CAPEX, млрд ¥		1.11	1.17	0.8587	0.4871	0.281	0.573	0.2287	0.4632	0.1014	0.0793	0.2891	-32.67

	5 quarters average	CAGR 5

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	LTM	5 year average	CAGR 5
Наличность, млрд ¥	0.3664	5.71	9.63	6.29	5.39	5.39	5.48	71.21
Short Term Investments ¥	0.8592	1.33	0.000469	0.000469	0.000469	0.000469	0.4381	-77.75
Total Receivables ¥	0.1538	0.1881	0.2593	0.3904	0.2433	0.2433	0.2470	9.61
Total Current Assets ¥	2.71	8.44	11.39	8.48	7.57	7.57	7.72	22.81
Чистые активы, млрд ¥	2.71	8.44	11.39	9.1		9.1	7.91	35.37
Активы, млрд ¥	5.98	12.14	16.19	17.83	18.83	18.83	14.19	25.79
Short Term Debt ¥	0.2202		0.7435	0.1668	1.53	1.53	0.6651	62.36
Long Term Debt ¥	0.08			0.9605	0.2453	0.2453	0.4286	45.28
Задолженность, млрд ¥	1.34	0.6507	1.51	2.79	4.06	4.06	2.07	24.82
Чистый долг, млрд ¥	-0.0661			-5.17	-3.61		-2.9487	279.40
Долг, млрд ¥	0.3002			1.13	1.78	1.42	1.07	81.00
Interest income ¥	0.0101	0.0334	0.2133	0.2368	0.2198		0.1427	85.16
Расходы на обслуживание долга ¥	0.017	0.0039	0.0163	0.02	0.0322	0.0322	0.0179	13.63
Чист. проц. доходы, млрд ¥	-0.0075	0.0292	0.1964	0.2122	0.1819	0.2198	0.1224	-289.21
Себестоимость, млрд ¥	1.06	0.7992	1.52	1.58	1.51	1.51	1.29	7.33
Товарно материальные запасы ¥	0.8301	0.7751	1.19	1.57	1.47	1.47	1.17	12.11

	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	5 quarters average	CAGR 5
Наличность, млрд ¥		7.87	6.95	6.29	6.09	6.17	5.82	5.39	4.99	4.63	4.64	5.09	-4.43
Short Term Investments ¥		0.000469	0.000469	0.000469	0.000469	0.000469	0.000469	0.000469	0.000469	0.000469	0.000469	0.0005	0.00
Total Receivables ¥		0.3256	0.3649	0.3904	0.3387	0.2675	0.308	0.2433	0.2917	0.3055	0.3135	0.2924	0.35
Total Current Assets ¥		9.8	9.1	8.48	8.27	8.43	8.04	7.57	7.15	6.83	6.81	7.28	-3.27
Чистые активы, млрд ¥	10.67	9.8	9.1									9.86	-5.17
Активы, млрд ¥		16.68	17.29	17.83	18.2	18.49	18.8	18.83	18.62	18.32	18.33	18.58	-0.51
Short Term Debt ¥		0.2571	0.2756	0.1668	0.4319	1.21	1.26	1.53	1.09	0.7337	0.6913	1.06	-11.31
Long Term Debt ¥		0.5303	0.7302	0.9605	0.9855	0.251	0.2445	0.2453	0.5976	0.5775	0.572	0.4474	18.53
Задолженность, млрд ¥		1.85	2.33	2.79	3.09	3.3	3.53	4.06	3.75	3.43	3.34	3.62	-1.10
Чистый долг, млрд ¥						-4.7	-4.32	-3.61	-3.3	-3.32	-3.37	-3.5840	-4.85
Долг, млрд ¥						1.46	1.5	1.78	1.68	1.31	1.26	1.51	-3.43
Interest income ¥	0.0675	0.2022	0.3253	0.4273	0.0527	0.1697	-0.289	0.3918				0.1505	-1.72
Расходы на обслуживание долга ¥		0.0039	0.0053	0.0074	0.0063	0.0102	0.0066	0.0091	0.0099	0.0053	0.0069	0.0076	0.89
Чист. проц. доходы, млрд ¥	0.0588	0.0663	0.1567	-0.0697	0.0268	0.0736	0.1002	-0.0187	0.0457			0.0455	11.26
Себестоимость, млрд ¥		0.4143	0.3499	0.3941	0.3334	0.3906	0.3956	0.3857	0.4882	0.5052	0.5085	0.4566	5.15
Товарно материальные запасы ¥		1.41	1.56	1.57	1.56	1.49	1.51	1.47	1.37	1.33	1.27	1.39	-3.40

	5 quarters average	CAGR 5

Share

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	2024	2025	LTM	5 year average	CAGR 5
EPS	0.9121	0.4438	1.04	0.9485	0.6283			0.6283	0.7945	-7.18
Цена акции ао		85.05	184.28	61.29	54.98	38.8	50.28	50.28	77.93	-22.88
Число акций ао, млн	525.02	583.35	583.35	583.28	583.38			583.38	571.68	2.13
FCF/акцию	-0.2886	-0.4254	-1.51	-5.82	-1.71			-1.71	-1.9508	42.74

	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	5 quarters average	CAGR 5
EPS				0.2778	0.25	0.1152	0.0987	0.3162	0.1235	0.0902	0.1804	0.2437	0.1675	0.1611	6.28
Цена акции ао	128.39	158.77	139.86	97.44	81.51	64.1	64.42	56.49	60.45	53.17				59.73	-3.67
FCF/акцию				-1.53	-1.51	-1.21	-0.6992	-0.0619	-0.6289	-0.3248	-0.425	0.2035	0.2765	-0.1797	-184.84

	5 quarters average	CAGR 5

Efficiency

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
ROE, %	10.32	4.41	5.58	5.12	3.31			3.31	11.97	5.75	-20.34
ROA, %	8.01	3.77	3.67	3.25	2			2	5.12	4.14	-24.23
ROIC, %	9.77			5.72						7.74	-23.48
ROS, %	24.99	30.57	25.16	22.66	17.34	17.34	17.34	17.34	7.78	19.97	-7.17
ROCE, %							0	0	0.00
Ebit margin, %							0	0
Рентаб EBITDA, %	35.97	42.94	39.13				25.93	25.93	20.31	35.99	-7.86
Чистая рентаб, %	24.99	30.57	25.16	22.66	17.34			17.34	7.78	24.14	-7.05
Operation Margin, %	29.55	33.07	22.65	18.56	12.93	12.93	12.93	12.93	12.23	16.00	-10.61

	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	Industry average	5 quarters average	CAGR 5
ROE, %		1.5	1.38	0.6127	0.5217	1.69	0.654	0.4754	0.9458	1.27	0.8694	11.97	0.8429	5.86
ROA, %		0.9707	0.8661	0.3763	0.3156	1.01	0.3863	0.2798	0.5621	0.7698	0.5333	5.12	0.5063	6.66
ROIC, %						1.53	1.46	0.4922	0.8958	1.17	1.67		1.14	2.72
ROS, %		25.8	27.28	11.12	11.36	35.13	13.46	9.59	15.38	18.71	12.68	7.78	13.96	-1.19
Рентаб EBITDA, %	33.17	34.53	36.56									20.31	34.75	3.30
Чистая рентаб, %		25.8	27.28	11.12	11.36	35.13	13.46	9.59	15.38	18.71	12.68	7.78	13.96	-1.19
Operation Margin, %		19.44	16.06	13.81	10.19	17.71	13.58	10.25	14.07	19.2	17.44	12.23	14.91	5.13

	Industry average	5 quarters average	CAGR 5

Coefficients

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
P/E		55.31	90.23	65.74	85.14			85.14	22.36	74.11	11.39
P/BV		2.2	3.73	2.42	2.11			2.11	1.58	2.61	-1.04
P/S		16.91	24.96	14.9	14.76			14.76	1.36	17.88	-3.34
P/FCF					0	-32.38	-32.38	-32.38	8.36	-32.3800	0.00
E/P					0.0135	0.0113	0.0113	0.0113	0.07	0.0120	-5.76
EV/EBIT						0	0	0
EV/EBITDA								47.61	9.20
EV/S					12.1	13.11	13.11	13.11	1.59	12.77	2.71
EV/FCF						-27.71	-27.71	-27.71	9.57	-27.7100	0.00
Debt/EBITDA	0.4357				2.59	2.59	2.59	2.59	3.11	2.05	56.14
Netdebt/Ebitda	-0.096				0	0	0	0	1.78	-0.0960	0.00
Debt/Ratio	0.0502			0.0632	0.0943	0.0754	0.0754	0.0754	0.25	0.0717	8.48
Debt/Equity	0.0647			0.103	0.1591	0.156	0.2748	0.2748	1.07	0.1515	33.54
Debt/Net Income	0.627			2.04	4.85	3.87	3.87	3.87	10.62	3.05	43.91
PEG							379.72	379.72		379.72	0.00
Бета					1.14	1.38	0.7636	0.7636	-0.08	1.09	-12.50
Индекс Альтмана					2.55	2.32	2.32	2.32	4.67	2.40	-3.10

	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2025Q1	2025Q2	Industry average	5 quarters average	CAGR 5
P/E	94.57	74.26	65.75	87.26	82.53	83.69	85.13	62.03	73.32	52.45			22.36	71.32	-8.92
P/BV	2.15	2.41	2.42	2.52	2.49	2.09	2.11	1.73	1.83	1.39			1.58	1.83	-7.83
P/S	24.69	19.65	14.9	16.65	17.34	14.7	14.76	11.21	10.79	7.55			1.36	11.80	-12.48
Debt/Ratio					0.0792	0.08	0.0943	0.0904	0.0716	0.0689			0.25	0.0810	-2.94
Debt/Equity					0.1321	0.135	0.1591	0.1495	0.1162	0.1109			1.07	0.1341	-3.86
Debt/Net Income					7.94	20.87	33.74	15.99	9.22	12.93			10.62	18.55	-9.13
Бета											0.4267	0.5282	-0.08	0.4775	11.26
Индекс Альтмана											2.32	2.32	4.67	2.32	0.00

	Industry average	5 quarters average	CAGR 5

Dividends

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	LTM	Industry average	5 year average	CAGR 5
Див.выплата, млрд	0.1213	0.1213	0.0039	0.3396	0.1377	-0.1377				0.0930	-202.57
Дивиденд				0.5714	0.45	0.18	0.19	0.19		0.3478	-24.06
Див доход, ао, %				0.4973	1.26	1	0.9636	0.9636	0.05	0.9302	17.98
Дивиденды / прибыль, %		25.34	0.8459	57.11	37.39	37.58		37.58	74.45	31.65	8.20

	2021Q3	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	Industry average	5 quarters average	CAGR 5
Див.выплата, млрд		0.0037	0.1926	0.007	0.0061	0.0077	0.1129	0.011	0.0106	0.0052	0.1137		0.0507	0.14
Дивиденд	0.5714		0.45				0.18						0.4005	-31.96
Див доход, ао, %	0.4451		0.5521				0.2978					0.05	0.4317	-12.54
Дивиденды / прибыль, %		2.29	128.63	10.39	10.54	4.2	156.74	20.99	10.1	3.63	116.3	74.45	61.55	-5.79

	Industry average	5 quarters average	CAGR 5

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Other

IFRS

Reporting Annual

	2023	CAGR 5
Персонал, чел	2324	0.00

	CAGR 5

	CAGR 5