China Jushi Co Ltd

China Jushi maintains a capital structure characterized by significant leverage, with long-term debt of 15.18 billion CNY against total equity of 31.09 billion CNY, resulting in a debt-to-equity ratio of 0.49. The balance sheet shows total assets of 54.63 billion CNY and total liabilities of 23.53 billion CNY. Liquidity is assessed as medium risk, supported by a current ratio of 1.05. The company generates operating cash flow of 4.20 billion CNY and free cash flow of 2.21 billion CNY, indicating positive cash generation despite capital expenditures of 1.37 billion CNY. A key risk flag notes that net cash is negative after subtracting total debt, highlighting reliance on debt financing for operations and growth.

Profitability metrics show a net income of 3.29 billion CNY on revenue of 18.88 billion CNY, yielding a net margin of approximately 17.4%. Return on equity stands at 9.91%, while return on assets is 5.64%. The company trades at a price-to-earnings ratio of 72.35 and a price-to-book ratio of 7.17, suggesting the market prices in significant future growth or premium positioning relative to book value. The EV/EBITDA multiple is 58.64, and EV/Revenue is 13.31, indicating high valuation multiples relative to current earnings and sales. Without cohort median data provided, these ratios cannot be directly compared to industry peers, but the high multiples suggest investor expectations for sustained expansion.

Revenue concentration and segment details are not explicitly broken down in the provided financial snapshot, but the company operates within the Integrated Telecommunications Services industry. Geographic exposure is not detailed in the available data. The lack of specific segment or geographic revenue mix data limits the ability to assess concentration risk from a product or regional perspective, though the single industry classification suggests a focused business model.

Growth trajectory analysis is constrained by the absence of historical period data in the input. The current revenue of 18.88 billion CNY and net income of 3.29 billion CNY represent the latest normalized period performance. Without 5-year annual or 8-quarter quarterly data, trends in revenue growth, margin expansion, or earnings volatility cannot be quantified. The high valuation multiples imply that the market anticipates strong future growth, but this expectation is not supported by historical trend data in the current input.

Risk factors include medium liquidity risk and low dilution risk. The key flag regarding negative net cash after debt subtraction underscores the importance of maintaining access to capital markets and managing debt maturities. The current ratio of 1.05 indicates limited short-term liquidity buffer, which could be a concern in volatile market conditions. Dilution risk is assessed as low, with basic and diluted shares outstanding being identical at 4.00 billion shares, suggesting no significant options or convertible securities currently impacting share count.

Recent events and analyst sentiment show a mean price target of 62.83 CNY, with a median of 45.90 CNY, indicating a wide dispersion in analyst views. The mean recommendation is 1.69, leaning towards buy, with 7 strong buy and 7 buy ratings versus 2 hold ratings. The high price target of 96.00 CNY and low of 40.00 CNY reflect significant uncertainty or differing growth assumptions among analysts. No specific filing, news, or transcript observations are provided in the input to detail recent corporate actions or strategic announcements.

Analysts project 59.4% upside to a mean price target of 62.83, reflecting strong consensus buy ratings from 16 analysts.

Free cash flow is projected to grow 27.3% year-over-year to 2.21 billion CNY, indicating improving cash generation.

Net income CAGR of -14.1% over four years signals a significant long-term decline in profitability despite recent recovery.

Revenue CAGR of -1.1% over four years indicates stagnant top-line growth and potential market saturation or demand weakness.

Medium liquidity and credit risk flags suggest potential challenges in meeting short-term obligations or servicing debt.

Long-term debt increased to 15.58 billion CNY in FY1, rising from 12.79 billion CNY in FY3, increasing leverage pressure.

Cash conversion ratio of 1.36 trails the 1.43 cohort median, indicating slightly less efficient cash generation from earnings.

Revenue ¥4.98B, +17,8% YoY; Operating income −6,9% YoY.

• ▍Revenue ¥4.98B, +17,8% YoY
• ▍Operating income −6,9% YoY
• ▍Net income −21,3% YoY
• ▍Net margin 14.4%

Revenue ¥4.80B, +23,2% YoY; Operating income +64,9% YoY.

• ▍Revenue ¥4.80B, +23,2% YoY
• ▍Operating income +64,9% YoY
• ▍Net income +54,1% YoY
• ▍Net margin 18.4%

Revenue ¥4.22B; Operating income ¥1.13B.

• ▍Revenue ¥4.22B
• ▍Operating income ¥1.13B
• ▍Net margin 21.6%

Revenue ¥3.89B; Operating income ¥708.7M.

• ▍Revenue ¥3.89B
• ▍Operating income ¥708.7M
• ▍Net margin 14.7%

Revenue ¥4.36B; Operating income ¥716.9M.

• ▍Revenue ¥4.36B
• ▍Operating income ¥716.9M
• ▍Net margin 14.0%

Revenue ¥18.88B, +19,1% YoY; Operating income +45,6% YoY.

• ▍Revenue ¥18.88B, +19,1% YoY
• ▍Operating income +45,6% YoY
• ▍Net income +34,4% YoY
• ▍Free cash flow +27,3% YoY
• ▍Net margin 17.4%

Revenue ¥15.86B, +6,6% YoY; Operating income −20,4% YoY.

• ▍Revenue ¥15.86B, +6,6% YoY
• ▍Operating income −20,4% YoY
• ▍Net income −19,7% YoY
• ▍Free cash flow +88,2% YoY
• ▍Net margin 15.4%

Revenue ¥14.88B, −26,3% YoY; Operating income −53,5% YoY.

• ▍Revenue ¥14.88B, −26,3% YoY
• ▍Operating income −53,5% YoY
• ▍Net income −53,9% YoY
• ▍Free cash flow +110,9% YoY
• ▍Net margin 20.5%

Revenue ¥20.19B, +2,5% YoY; Operating income +11,7% YoY.

• ▍Revenue ¥20.19B, +2,5% YoY
• ▍Operating income +11,7% YoY
• ▍Net income +9,7% YoY
• ▍Free cash flow −82,9% YoY
• ▍Net margin 32.7%

Revenue ¥19.71B; Operating income ¥7.27B.

• ▍Revenue ¥19.71B
• ▍Operating income ¥7.27B
• ▍Net margin 30.6%