Shanghai Chicmax Cosmetic Co Ltd

Shanghai Chicmax Cosmetic Co Ltd maintains a conservative capital structure with a debt-to-equity ratio of 0.23 and a current ratio of 1.85, indicating strong short-term liquidity coverage. The company holds CNY 802.3 million in cash and equivalents against CNY 632.2 million in long-term debt, resulting in a net cash position. Operating cash flow stands at CNY 1.2 billion, significantly exceeding free cash flow of CNY 209.2 million due to capital expenditures of CNY 514.7 million. The risk assessment indicates low liquidity and dilution risks, with no immediate filing-based flags detected.

Profitability metrics demonstrate high efficiency, with a return on equity of 39.83% and a return on assets of 22.2%. The company generates a gross profit of CNY 7.0 billion on revenue of CNY 9.2 billion, implying a gross margin of approximately 76.3%. Operating income is CNY 1.4 billion, leading to a net income of CNY 1.1 billion. Valuation multiples are compressed relative to growth potential, with a price-to-earnings ratio of 9.78 and an EV/EBITDA of 7.57. The price-to-book ratio is 3.9, reflecting the market's valuation of the company's tangible equity base.

Segment and geographic revenue mix data is not available in the provided input, preventing a detailed analysis of revenue concentration or regional exposure. The company's activity is broadly classified as unclassified within the personal care products industry, limiting specific operational granularity.

Historical period data for revenue and net income trends is absent from the input, precluding a multi-year growth trajectory analysis. The current financial snapshot reflects a single normalized period, with no comparative historical data provided to assess year-over-year or quarter-over-quarter momentum.

Risk factors are assessed as low for both liquidity and dilution, with no key flags identified in the risk assessment. The company's low debt-to-equity ratio and strong current ratio further mitigate financial distress risks. The absence of significant long-term debt relative to equity suggests a stable balance sheet capable of withstanding economic volatility.

Recent IR observations indicate strong analyst sentiment, with a mean recommendation of 1.57 (where 1 is strong buy) and a mean price target of CNY 93.58. The median price target is CNY 91.00, with a high target of CNY 112.70 and a low target of CNY 78.64. There are 7 strong-buy ratings and 6 buy ratings, compared to only 1 hold rating, suggesting significant upside potential from the current market price of CNY 27.08.

Net income CAGR of 23.2% over four years demonstrates strong historical earnings growth momentum for the company.

Return on equity of 39.8% ranks as best-in-class compared to the median of 7.9% among peers.

Analysts project 136.8% upside potential with a mean price target of 93.58 versus the current market price.

Free cash flow improved to 209.2 million CNY in FY2026, showing enhanced cash generation capabilities.

Cash conversion ratio of 1.09 falls below the cohort median of 1.2, suggesting weaker cash realization from earnings.

Long-term debt increased to 632.2 million CNY in FY2026, reversing the reduction trend seen in FY2025.

Revenue ¥9.18B, +35,1% YoY; Operating income +50,0% YoY.

• ▍Revenue ¥9.18B, +35,1% YoY
• ▍Operating income +50,0% YoY
• ▍Net income +41,1% YoY
• ▍Free cash flow +45,9% YoY
• ▍Net margin 12.0%

Revenue ¥6.79B; Operating income ¥934.7M.

• ▍Revenue ¥6.79B
• ▍Operating income ¥934.7M
• ▍Net margin 11.5%

Revenue ¥2.68B, −26,1% YoY; Operating income −59,0% YoY.

• ▍Revenue ¥2.68B, −26,1% YoY
• ▍Operating income −59,0% YoY
• ▍Net income −56,6% YoY
• ▍Free cash flow −108,3% YoY
• ▍Net margin 5.5%