Zhongtai Futures Co Ltd

Chart & Performance

D1W1MN

P/E

4.23

P/S

0.26

EPS

0.13

Div Yield, %

0.00%

Shrs. gr., 5y

—

Rev. gr., 5y

31.01%

Revenues

2.15b

-12.16%

Net income

134m

-19.50%

CFO

2.85b

-51.55%

Dividend

Jul 02, 20240.0153 HKD/sh

Profile

ZHONGTAI FUTURES Company Limited provides brokerage services for commodity and financial futures in the People's Republic of China. The company operates through Futures Brokerage, Commodity Trading and Risk Management, Futures Asset Management, and Treasury and Others segments. The Futures Brokerage segment offers futures brokerage and financial futures brokering services. The Commodity Trading and Risk Management segment provides physical commodity trading, futures trading, and over-the-counter derivatives trading services. The Futures Asset Management segment offers portfolio management and maintenance, investment advisory, and transaction execution services. The Treasury and Others segment is involved in the treasury operations. The company also engages in the sale and wholesale of agricultural and metal products, metallurgical materials, mineral products, precious metals, chemical products, and edible oils, as well as electronic products, office automation equipment, computers, cultural office machinery, control equipment, and machine room equipment; import and export activities; and provision of technical consultation, investment consultancy, investment planning, enterprise management consulting, technical services of computer network products and software, and capital risk management services. In addition, it provides software development, computer information system integration, and information technology services, as well as electronic engineering design and construction services. The company was formerly known as LUZHENG FUTURES Company Limited and changed its name to ZHONGTAI FUTURES Company Limited in May 2022. The company was founded in 1995 and is headquartered in Jinan, the People's Republic of China. ZHONGTAI FUTURES Company Limited is a subsidiary of Zhongtai Securities Co., Ltd.

URL

http://www.ztqh.com

IPO date

Jul 07, 2015

Employees

735

Domiciled in

Incorporated in

Valuation

Order:

Title CNY in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title CNY in thousands, except ratios and share amounts	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12	2014‑12
Income
Revenues	2,150,812 -12.16%	2,448,436 8.61%	2,254,420 361.20%
Cost of revenue	145,025	124,268	159,096
Unusual Expense (Income)
NOPBT	2,005,787	2,324,169	2,095,324
NOPBT Margin	93.26%	94.92%	92.94%
Operating Taxes	47,707	59,330	67,631
Tax Rate	2.38%	2.55%	3.23%
NOPAT	1,958,081	2,264,839	2,027,693
Net income	133,719 -19.50%	166,102 -11.92%	188,573 231.80%
Dividends		(18,034)	(23,645)
Dividend yield		2.81%	3.75%
Proceeds from repurchase of equity
BB yield
Debt
Debt current
Long-term debt	50,115	60,279	19,065
Deferred revenue
Other long-term liabilities	27,515,984	(60,279)	(19,065)
Net debt	(19,940,775)	(17,381,213)	(11,249,753)
Cash flow
Cash from operating activities	2,853,331	5,888,640	4,976,635
CAPEX	(21,566)	(13,587)	(17,541)
Cash from investing activities	(21,308)	(4,006)	(296,385)
Cash from financing activities	(240,116)	170,993	(33,294)
FCF	12,681,954	402,320	(6,991,914)
Balance
Cash	18,818,465	16,467,031	10,365,580
Long term investments	1,172,425	974,461	903,239
Excess cash	19,883,350	17,319,070	11,156,097
Stockholders' equity	2,146,468	1,791,570	1,631,332
Invested Capital	27,979,922	26,877,047	18,881,926
ROIC	7.14%	9.90%	13.36%
ROCE	6.66%	8.11%	10.21%
EV
Common stock shares outstanding	1,001,900	1,001,900	1,001,900
Price	0.59 -7.81%	0.64 1.59%	0.63 8.62%
Market cap	591,121 -7.81%	641,216 1.59%	631,197 8.62%
EV	(19,099,391)	(16,739,997)	(10,618,556)
EBITDA	2,031,543	2,344,164	2,109,843
EV/EBITDA
Interest	251,682	214,350	94,054
Interest/NOPBT	12.55%	9.22%	4.49%