Lee & Man Paper Manufacturing Ltd

Chart & Performance

D1W1MN

P/E

9.44

P/S

0.40

EPS

0.24

Div Yield, %

2.52%

Shrs. gr., 5y

-0.59%

Rev. gr., 5y

-4.99%

Revenues

24.94b

-14.51%

Net income

1.05b

-20.16%

CFO

151m

-95.92%

Dividend

Aug 14, 20240.062 HKD/sh

Earnings

Mar 06, 2025

Profile

Lee & Man Paper Manufacturing Limited, an investment holding company, manufactures and trades in packaging papers, pulps, and tissue papers in the People's Republic of China, Vietnam, Malaysia, Macau, and Hong Kong. The company operates through Packaging Paper, Tissue Paper, and Pulp segments. It offers various pulp products, such as dissolved pulps for use in viscose chemical fibers, bamboo fibers, glass papers, acetate fibers, refined rayons, etc.; unbleached bamboo kraft pulps for use in ecru life papers, environmental table wares, food bags, etc.; and bleached bamboo kraft pulps for use in tissue papers, fine papers, cigarette papers, cup papers, etc. The company also provides containerboard products, including kraft and test linerboards for use in cartons, paper bags, file boxes, paperboards, wall papers, etc.; and corrugating liners for use in corrugated layer and septi-layer of paperboards, and honeycomb-like products. In addition, it offers white lined chipboards and environment friendly white linerboard coated products for use in graphic cartons, color card printing, and offset printing, as well as in packaging of commodities, household appliances, IT products, medicine/health care products, food products, toys, gifts, ceramic products, stationery products, beverages, etc.; toilet rolls for wiping and cleaning of hands, faces, food, etc.; and unbleached paper for use in various applications, such as baby care, menstruation, facial, sensitive skin, table, kitchen, etc. The company was founded in 1994 and is based in Kwun Tong, Hong Kong.

URL

https://www.leemanpaper.com/

IPO date

Sep 26, 2003

Employees

10,000

Domiciled in

Incorporated in

Valuation

Order:

Title HKD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title HKD 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	24,937,083 -14.51%	29,170,402 -10.28%	32,511,417 25.68%
Cost of revenue	24,148,093	28,500,898	29,381,537
Unusual Expense (Income)
NOPBT	788,990	669,504	3,129,880
NOPBT Margin	3.16%	2.30%	9.63%
Operating Taxes	258,396	141,531	542,523
Tax Rate	32.75%	21.14%	17.33%
NOPAT	530,594	527,973	2,587,357
Net income	1,050,931 -20.16%	1,316,332 -59.51%	3,251,247 -10.99%
Dividends	(249,955)	(755,502)	(1,434,392)
Dividend yield	2.53%	5.09%	6.09%
Proceeds from repurchase of equity	(196,917)	(94,038)	16,575,816
BB yield	2.00%	0.63%	-70.38%
Debt
Debt current	7,053,810	8,517,451	8,688,757
Long-term debt	12,391,584	7,974,549	5,506,086
Deferred revenue		7,826,554	5,386,012
Other long-term liabilities		(7,826,554)	(5,386,012)
Net debt	17,745,003	13,955,919	11,589,581
Cash flow
Cash from operating activities	151,372	3,707,511	2,791,775
CAPEX	(3,701,666)	(4,742,169)	(3,317,735)
Cash from investing activities	(3,667,045)	(4,694,557)	(3,506,711)
Cash from financing activities	3,236,356	1,055,157	1,434,371
FCF	(1,672,307)	2,818,693	(2,913,322)
Balance
Cash	1,517,149	1,798,317	1,908,813
Long term investments	183,242	737,764	696,449
Excess cash	453,537	1,077,561	979,691
Stockholders' equity	28,736,007	26,719,372	31,049,326
Invested Capital	47,682,733	43,879,899	46,371,291
ROIC	1.16%	1.17%	5.91%
ROCE	1.59%	1.44%	6.42%
EV
Common stock shares outstanding	4,309,528	4,316,586	4,345,151
Price	2.29 -33.43%	3.44 -36.53%	5.42 -13.42%
Market cap	9,868,818 -33.54%	14,849,056 -36.95%	23,550,720 -13.53%
EV	27,623,271	28,813,362	35,148,303
EBITDA	963,537	861,005	3,295,131
EV/EBITDA	28.67	33.46	10.67
Interest	278,120	123,769	75,389
Interest/NOPBT	35.25%	18.49%	2.41%