600128.Ss
The company operates in the Diversified Industrial Goods Wholesale industry, providing industrial and commercial services, and generates revenue primarily through the distribution of industrial goods.
Business. The company operates in the Diversified Industrial Goods Wholesale industry, providing industrial and commercial services, and generates revenue primarily through the distribution of industrial goods.
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
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Synthesis
The company operates in the Diversified Industrial Goods Wholesale industry, providing industrial and commercial services, and generates revenue primarily through the distribution of industrial goods.
The company maintains a market price of 9.31 CNY per share, with a market capitalization of 2,343,314,897 CNY. Its price-to-earnings ratio is 48.54, and the price-to-book ratio is 1.09, indicating a relatively moderate valuation compared to book value. The enterprise value to EBITDA ratio is 38.95, and the enterprise value to revenue ratio is 0.42, suggesting a low valuation relative to revenue. The company's return on equity is 2.25%, and return on assets is 0.75%, both of which are below the typical thresholds for strong profitability in the industry.
The company's profitability is modest, with a net income of 48,272,990 CNY and an operating income of 84,329,620 CNY. The gross profit of 385,822,840 CNY represents a small margin of 4.99% of total revenue, which is below the industry median for similar companies. The debt-to-equity ratio is 0.44, indicating a relatively conservative capital structure. However, the company's liquidity is rated as medium, and it has a negative net cash position after subtracting total debt.
The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification may expose the company to higher operational and market risks, particularly in the event of regional economic downturns or supply chain disruptions. The company's capital expenditures are negative, indicating a reduction in investment in physical assets.
The company's growth trajectory is uncertain, with no disclosed revenue growth or decline in the most recent fiscal year. The operating cash flow of 228,878,140 CNY and free cash flow of 26,214,810 CNY suggest limited capacity for reinvestment or debt reduction. The company's liquidity risk is moderate, with a current ratio of 1.18, indicating a slight buffer against short-term obligations.
The company faces several risk factors, including a medium liquidity risk and a low dilution risk. The risk assessment highlights a key flag of negative net cash after subtracting total debt, which could impact the company's ability to meet short-term obligations. The company has not disclosed any recent events, such as filings or transcripts, that would provide additional insight into its strategic direction or operational performance.
The company's recent financial performance and risk profile suggest a cautious outlook for the next fiscal year. The company's capital structure and liquidity position may require careful management to ensure continued operational stability. The company's moderate profitability and low growth potential may limit its attractiveness to investors seeking high returns.
- The company has a moderate valuation with a price-to-earnings ratio of 48.54 and a price-to-book ratio of 1.09.
- The company's profitability is modest, with a return on equity of 2.25% and a return on assets of 0.75%.
- The company's capital structure is relatively conservative, with a debt-to-equity ratio of 0.44.
- The company's liquidity is rated as medium, with a current ratio of 1.18 and a negative net cash position after subtracting total debt.
- The company's growth trajectory is uncertain, with no disclosed revenue growth or decline in the most recent fiscal year.
- The company's risk profile includes medium liquidity risk and low dilution risk.
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Risk factors
- Net cash is negative after subtracting total debt.
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Physical assets
2 tracked| Asset | Type | Commodity | Country | Role |
|---|---|---|---|---|
| Yixing Linggu Chemical power station | Power | Power | China | Parent |
| Yixing Linggu Chemical power station | Power | Coal | China | Parent |
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