Chengzhi Shareholding Co., Ltd. (000990.SZ) Bundle
Peeling back the numbers on Chengzhi Shareholding Co., Ltd. (000990.SZ) reveals a mixed picture that demands closer reading: operating revenue fell to 11.07 billion yuan in 2024 (down 10.88% from 12.42 billion), while revenue for the first three quarters of 2025 rose to 8.704 billion yuan (up 5.66% YoY) even as net profit attributable to shareholders for that period dropped to 104 million yuan (down 52.58% YoY) and EPS for the same period stood at 0.10 yuan with a trailing P/E near 77.66; profitability metrics show 2024 net profit of 230.59 million yuan (up 29.98%), ROE of 1.37% and ROA of 1.22%, EBITDA of 527.24 million yuan, and thin margins (operating margin 0.87%, net margin 0.55%), while the balance sheet at September 2025 lists total assets of 27.52 billion yuan, total liabilities of 8.72 billion yuan and total equity of 18.81 billion yuan (debt-to-equity 31.74%), with total debt around 6.0 billion yuan offset by cash and short-term investments of 4.1 billion yuan, current ratio 1.46, quick ratio 1.16 and interest coverage of 4.9; valuation signals include a trailing P/E of 77.45, forward P/E of 122.83, P/S 0.78, P/B 0.48, EV/EBITDA 10.27 and enterprise value about 12.16 billion yuan, with market capitalization near 8.98 billion yuan as of December 12, 2025 and a 52‑week share range of 6.74-8.64 yuan, setting the stage for investors to weigh liquidity, leverage and high valuation multiples before diving deeper into the full analysis.
Chengzhi Shareholding Co., Ltd. (000990.SZ) - Revenue Analysis
Chengzhi Shareholding Co., Ltd. reported a full-year operating revenue decline in 2024 followed by partial recovery in 2025's first three quarters, with mixed profitability signals.- 2024 operating revenue: ¥11.07 billion (down 10.88% vs. 2023: ¥12.42 billion).
- First three quarters 2025 revenue: ¥8.704 billion (year-on-year increase of 5.66%).
- Net profit attributable to shareholders (1-3Q 2025): ¥104 million (down 52.58% YoY).
- Net profit margin (1-3Q 2025): 3.10% (increase of 154.10% vs. same period 2024).
- EPS (trailing, 1-3Q 2025): ¥0.10; trailing P/E: 77.66.
- Market capitalization (as of 2025-12-12): ¥8.98 billion; 52-week share price range: ¥6.74-¥8.64.
| Period | Operating Revenue (¥) | Revenue YoY | Net Profit Attributable (¥) | Net Profit YoY | Net Profit Margin |
|---|---|---|---|---|---|
| Full Year 2024 | 11,070,000,000 | -10.88% | - (reported full-year net not provided) | - | - |
| 1-3Q 2024 | 8,246,000,000 (implied) | - | 219,000,000 (implied) | - | 1.21% (implied) |
| 1-3Q 2025 | 8,704,000,000 | +5.66% | 104,000,000 | -52.58% | 3.10% (+154.10% vs. 1-3Q 2024) |
- Revenue trend: decline in 2024 followed by recovery in 2025 YTD; recovery magnitude modest (1-3Q growth +5.66%).
- Profitability dynamics: net profit fell sharply YoY in 1-3Q 2025 despite a higher net margin percentage, indicating lower absolute profits versus revenue base differences or one-off impacts.
- Valuation snapshot: EPS ¥0.10 with trailing P/E 77.66 implies market pricing that either anticipates future recovery or factors in low current earnings.
- Market context: market cap ¥8.98 billion with a 52-week share range of ¥6.74-¥8.64 signals limited upside from current prices absent operational improvement.
Chengzhi Shareholding Co., Ltd. (000990.SZ) - Profitability Metrics
Chengzhi Shareholding Co., Ltd. reported a net profit of 230.59 million yuan for 2024, representing a year-on-year increase of 29.98%. Key profitability ratios and headline figures provide a mixed picture: modest margins and returns offset by an improving annual profit, while 2025 year-to-date performance shows a marked slowdown.
- Net profit (2024): 230.59 million yuan (+29.98% YoY)
- Net income (first 3 quarters 2025): 104 million yuan (-52.58% YoY)
- ROE: 1.37%
- ROA: 1.22%
- Operating margin: 0.87%
- Net profit margin: 0.55%
- EBITDA (2024): 527.24 million yuan
- Diluted EPS: 0.05 yuan; trailing P/E: 77.45
Contextualizing these metrics: low single-digit margins and ROE/ROA indicate limited profitability per unit of sales and capital employed; EBITDA of 527.24 million yuan shows cash-generation capacity that is meaningfully higher than reported net income, suggesting non-cash charges, financing costs or tax impacts compressing the bottom line. The elevated trailing P/E of 77.45 reflects market pricing relative to earnings and implies high growth expectations or limited current earnings power.
| Metric | Value | Comment |
|---|---|---|
| Net Profit (2024) | 230.59M CNY | YoY +29.98% |
| Net Income (Jan-Sep 2025) | 104M CNY | YoY -52.58% |
| ROE | 1.37% | Low shareholder return |
| ROA | 1.22% | Low asset efficiency |
| Operating Margin | 0.87% | Thin operating profitability |
| Net Profit Margin | 0.55% | Significant compression from revenue to net income |
| EBITDA | 527.24M CNY | Stronger cash basis performance |
| Diluted EPS | 0.05 CNY | Trailing P/E: 77.45 |
For background on company structure, strategy and how Chengzhi generates revenue, see: Chengzhi Shareholding Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
Chengzhi Shareholding Co., Ltd. (000990.SZ) - Debt vs. Equity Structure
Chengzhi Shareholding's capital structure as of September 2025 shows relatively conservative leverage with multiple liquidity indicators reflecting both available cash buffers and outstanding obligations. Key metrics and components are summarized below.- Total assets: ¥27.52 billion
- Total liabilities: ¥8.72 billion
- Total equity: ¥18.81 billion
- Debt-to-equity ratio: 31.74%
- Debt-to-asset ratio: 31.74%
- Current ratio: 1.46
- Interest coverage ratio: 4.9
| Metric | Amount (¥ billion) | Notes / Interpretation |
|---|---|---|
| Total Assets | 27.52 | Base for leverage and liquidity ratios |
| Total Liabilities | 8.72 | Includes both interest-bearing debt and operating liabilities |
| Total Equity | 18.81 | Shareholders' claim after liabilities |
| Debt-to-Equity | 31.74% | Moderate leverage; equity base substantially larger than debt |
| Debt-to-Asset | 31.74% | Consistent with debt-to-equity given reported equity and assets |
| Current Ratio | 1.46 | Short-term liquidity exceeds short-term obligations |
| Interest Coverage Ratio | 4.9 | Operating income roughly 4.9× interest expense - comfortable but not ample |
| Total Debt (reported - measure A) | 6.00 | Reported aggregate debt figure; may include all borrowings |
| Cash & Short-term Investments (measure A) | 4.10 | High liquid buffer relative to reported debt |
| Total Debt (reported - measure B) | 5.52 | Alternate debt disclosure or interest-bearing debt subset |
| Cash Reserves (measure B) | 1.79 | Conservative cash figure from alternate reporting line |
- Net debt position varies by disclosure basis: using Debt A (¥6.00bn) minus Cash A (¥4.10bn) yields net debt ≈ ¥1.90bn; using Debt B (¥5.52bn) minus Cash B (¥1.79bn) yields net debt ≈ ¥3.73bn.
- Interest coverage of 4.9 indicates operating earnings cover interest comfortably but suggests sensitivity to earnings declines.
- Current ratio of 1.46 indicates near-term obligations are manageable without excessive short-term refinancing.
Chengzhi Shareholding Co., Ltd. (000990.SZ) - Liquidity and Solvency
Chengzhi Shareholding demonstrates a generally healthy short-term liquidity profile alongside moderate leverage. Key metrics point to sufficient ability to meet near-term obligations while retaining a solid equity base to support operations and growth.- Current ratio: 1.46 - indicates adequate coverage of current liabilities by current assets.
- Quick ratio: 1.16 - shows liquid assets (excluding inventories) comfortably exceed current liabilities.
- Interest coverage ratio: 4.9 - operating earnings cover interest expense nearly five times, signaling manageable interest burden.
| Metric | Amount (CNY) | Comment |
|---|---|---|
| Total assets | 27.52 billion | Broad asset base supporting operations |
| Total liabilities | 8.72 billion | Liabilities represent ~31.7% of assets |
| Total equity | 18.81 billion | Solid shareholder equity cushion |
| Total debt | 6.0 billion | Includes short- and long-term borrowings |
| Cash & short-term investments | 4.1 billion | Provides near-term liquidity |
| Debt-to-equity ratio | 31.74% | Moderate financial leverage |
- Net debt position (Total debt minus cash & short-term investments): 1.9 billion yuan - indicates the company is near net-debt neutral with available liquid resources.
- Leverage context: With total equity of 18.81 billion and debt-to-equity of 31.74%, Chengzhi has room to absorb shocks or pursue selective financing for expansion.
- Coverage resilience: An interest coverage of 4.9 provides a buffer against moderate earnings volatility, though continued monitoring of operating margins is prudent.
Chengzhi Shareholding Co., Ltd. (000990.SZ) - Valuation Analysis
Core valuation metrics for Chengzhi Shareholding Co., Ltd. give a mixed signal: price multiples are relatively low on a balance-sheet basis but elevated on earnings multiples, reflecting either recent earnings pressure or market expectations for future growth variability. Key figures are listed below and summarized in the table for quick reference.
- Trailing P/E: 77.45
- Forward P/E: 122.83
- P/S: 0.78
- P/B: 0.48
- EV/EBITDA: 10.27
- EV/FCF: 28.18
- Market Capitalization: ¥8.96 billion
- Enterprise Value: ¥12.16 billion
- P/TBV: 0.88
- P/FCF: 20.75
- P/OCF: 7.79
- PEG: not available
| Metric | Value |
|---|---|
| Trailing P/E | 77.45 |
| Forward P/E | 122.83 |
| P/S | 0.78 |
| P/B | 0.48 |
| EV/EBITDA | 10.27 |
| EV/FCF | 28.18 |
| Market Capitalization | ¥8.96 billion |
| Enterprise Value | ¥12.16 billion |
| P/TBV | 0.88 |
| P/FCF | 20.75 |
| P/OCF | 7.79 |
| PEG | Not available |
For context and investor positioning, see: Exploring Chengzhi Shareholding Co., Ltd. Investor Profile: Who's Buying and Why?
Chengzhi Shareholding Co., Ltd. (000990.SZ) - Risk Factors
Chengzhi Shareholding faces multiple financial risks that investors should weigh carefully. The company's profitability and returns are notably thin, leverage remains meaningful relative to liquid assets, and valuation multiples appear elevated given recent earnings performance.- Profitability pressure: net profit margin is 0.55%, signaling very thin margins on revenue.
- Low investment returns: ROE 1.37% and ROA 1.22%, indicating limited efficiency in generating shareholder returns and asset income.
- Leverage vs. liquidity: total debt of ¥6.0 billion against cash and short-term investments of ¥4.1 billion, reflecting leveraged operations with a cash coverage gap of ¥1.9 billion.
- Valuation concerns: trailing P/E 77.45x and forward P/E 122.83x, suggesting high market expectations relative to earnings.
- Moderate balance-sheet leverage: total debt-to-equity ratio 31.74%, indicating leverage that is not extreme but material.
- Earnings deterioration: net income for the first three quarters of 2025 was ¥104 million, down 52.58% year-on-year, which raises near-term earnings risk.
| Metric | Value | Comment |
|---|---|---|
| Net Profit Margin | 0.55% | Very thin margins, limited buffer against cost shocks |
| ROE | 1.37% | Low return on shareholder equity |
| ROA | 1.22% | Low asset productivity |
| Total Debt | ¥6.0 billion | Significant absolute leverage |
| Cash & Short-term Investments | ¥4.1 billion | Leaves ¥1.9 billion shortfall vs. total debt |
| Total Debt-to-Equity | 31.74% | Moderate leverage |
| Trailing P/E | 77.45x | High historical valuation |
| Forward P/E | 122.83x | Market pricing implies growth not yet realized |
| Net Income (1-3Q 2025) | ¥104 million (-52.58% YoY) | Material earnings decline year-over-year |
Chengzhi Shareholding Co., Ltd. (000990.SZ) - Growth Opportunities
Chengzhi Shareholding Co., Ltd. reported revenue of 8.704 billion yuan for the first three quarters of 2025, up 5.66% year-over-year. Net profit margin expanded sharply to 3.10% for the same period, a 154.10% increase versus 2024, signaling improving profitability dynamics even as absolute margins remain modest. Operational returns show ROE at 1.37% and ROA at 1.22%, indicating limited capital efficiency but directional improvement alongside margin recovery.| Metric | Value | Comment |
|---|---|---|
| Revenue (1-3Q 2025) | 8.704 billion yuan | +5.66% YoY |
| Net Profit Margin (1-3Q 2025) | 3.10% | +154.10% YoY |
| ROE | 1.37% | Low but positive |
| ROA | 1.22% | Reflects asset utilization |
| Total Debt | 6.0 billion yuan | Leverage present |
| Cash & Short-term Investments | 4.1 billion yuan | Provides liquidity buffer |
| Debt-to-Equity | 31.74% | Moderate financial leverage |
| Trailing P/E | 77.45 | High historical valuation |
| Forward P/E | 122.83 | Premium expectations |
- Revenue growth drivers: modest organic growth (5.66% YoY) supported by product mix improvements and operational efficiencies that contributed to a sharp net margin rebound.
- Profitability catalysts: margin expansion (net margin at 3.10%) suggests cost control or higher-margin sales-if sustained, this can lift ROE and investor confidence.
- Liquidity and leverage: cash & short-term investments of 4.1 billion yuan vs. total debt of 6.0 billion yuan-net debt remains meaningful but manageable given a debt-to-equity ratio of 31.74%.
- Near-term opportunities:
- Operational leverage-improving margins could convert modest revenue growth into stronger EPS gains.
- Strategic divestments or efficiency programs that reduce capital needs and boost ROA/ROE.
- Key risks:
- High valuation sensitivity-any slowdown in margin expansion or revenue growth could lead to sharp re-rating given P/E multiples.
- Leverage overhang-6.0 billion yuan of debt with 4.1 billion yuan in liquid assets leaves limited cushion if earnings deteriorate.
Chengzhi Shareholding Co., Ltd. (000990.SZ) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.