Haitong Securities Co., Ltd.

SHSE-600837

Basic

Market Cap
CN¥93.61B
EV
—
Shares Out
12.99B
Revenue
CN¥16.83B
Employees
13,637

Margins

Gross
35.59%
EBITDA
—
Operating
—
Pre-Tax
-2.15%
Net
-3.05%
FCF
-25.48%

Returns (5Yr Avg)

ROA
1.23%
ROTA
5.4%
ROE
5.36%
ROCE
—
ROIC
2.73%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
CN¥8.06
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
CN¥72.2B
Net Debt
-CN¥18.66B
Debt/Equity
2.21
EBIT/Interest
—

Growth (CAGR)

Rev 3Yr
-25.97%
Rev 5Yr
-8.67%
Rev 10Yr
4.7%
Dil EPS 3Yr
-65.85%
Dil EPS 5Yr
-42.57%
Dil EPS 10Yr
-20.71%
Rev Fwd 2Yr
-10.39%
EBITDA Fwd 2Yr
74.27%
EPS Fwd 2Yr
160.14%
EPS LT Growth Est
-7.6%

Dividends

Yield
—
Payout
-254.98%
DPS
CN¥0.1
DPS Growth 3Yr
-42.64%
DPS Growth 5Yr
-7.79%
DPS Growth 10Yr
-1.81%
DPS Growth Fwd 2Yr
54.1%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Operating Revenues	—	—	—	—	—	—	17,387.4	18,762.7	—	—	—
Gain (Loss) on Sale of Investment, Total						2,369.1	—	—	-3,056.5	-5,451.8	-5,024.6
Interest And Invest. Income						13,378.7	15,967.5	17,299.6	9,018.5	10,565.1	8,811.1
Other Revenues, Total						16,743.8	3,474.6	5,874.3	17,622.8	15,209.7	13,040.9
Total Revenues						32,491.6	36,829.5	41,936.6	23,584.8	20,323.1	16,827.5
Total Revenues % Chg.						46.1%	13.4%	13.9%	-43.8%	-13.8%	-39.2%
Cost of Goods Sold, Total						11,094.7	3,535.3	3,770.6	9,945.3	11,076.9	10,839.3
Gross Profit						21,396.9	33,294.3	38,166	13,639.6	9,246.2	5,988.2
Selling General & Admin Expenses, Total						177	7,656.7	9,025.3	257	372.1	372.1
Provision for Bad Debts						83.9	231.7	315.6	139.9	74.1	74.1
Depreciation & Amortization	—	—	—	—	—	—	1,363.9	1,569.3	—	—	—
Other Operating Expenses						6,941.5	7,845.7	9,168.5	6,104.1	6,560.1	5,032.1
Other Operating Expenses, Total						7,202.3	17,097.9	20,078.7	6,501	7,006.4	5,478.3
Operating Income						14,194.6	16,196.3	18,087.4	7,138.6	2,239.8	509.8
Income (Loss) On Equity Invest.	—	—	—	—	—	—	543	1,649.9	—	—	—
Currency Exchange Gains (Loss)						243.1	211.4	279.9	-425.4	-344	-244.4
Other Non Operating Income (Expenses)	—	—	—	—	—	-160.7	—	—	-429.4	-881.5	-1,697.8
EBT, Excl. Unusual Items						14,276.9	16,950.7	20,017.2	6,283.8	1,014.4	-1,432.3
Impairment of Goodwill	—	—	—	—	—	—	—	-414.6	—	-279.6	-279.6
Gain (Loss) On Sale Of Investments						-897.8	-1,182.5	-974.2	1,023.2	-152	-152
Gain (Loss) On Sale Of Assets						-29.4	—	—	-10.7	17.3	14.8
Asset Writedown						7.9	-10.9	-84.5	-65.1	-27.9	-36.3
Legal Settlements			—	—	—	—	—	—	—	—	—
Other Unusual Items						514.2	—	—	767.8	993.7	1,523.7
EBT, Incl. Unusual Items						13,871.9	15,757.3	18,543.8	7,999	1,565.9	-361.7
Income Tax Expense						3,331.3	3,720.1	4,795.9	2,802.9	1,876.9	1,523.6
Earnings From Continuing Operations						10,540.7	12,037.2	13,747.9	5,196.2	-311	-1,885.3
Minority Interest						-1,017.4	-1,161.8	-921.3	1,349.2	1,319.4	1,371.2
Net Income						9,523.2	10,875.4	12,826.5	6,545.3	1,008.4	-514.1
Net Income to Common Incl Extra Items						9,523.2	10,875.4	12,826.5	6,545.3	1,008.4	-514.1
Net Income to Common Excl. Extra Items						9,523.2	10,875.4	12,826.5	6,545.3	1,008.4	-514.1
Total Shares Outstanding						11,501.7	13,064.2	13,064.2	13,064.2	13,022.7	13,018.6
Weighted Avg. Shares Outstanding						11,501.7	12,022.5	13,064.2	13,064.2	13,055.3	13,107.6
Weighted Avg. Shares Outstanding Dil						11,501.7	12,022.5	13,064.2	13,064.2	13,055.3	13,107.6
EPS						0.8	0.9	1	0.5	0.1	-0
EPS Diluted						0.8	0.9	1	0.5	0.1	-0
Effective Tax Rate						24%	23.6%	25.9%	35%	119.9%	-421.2%