Sichuan Crun Co., Ltd (002272.SZ) Bundle
Sichuan Crun Co., Ltd.'s latest financial portrait forces a close read: 2024 revenue slid to CNY 1.60 billion (down 4.01% year-on-year) with a three-year growth rate of -2.00%, Q1 2025 revenue plunged to CNY 312.03 million (down 21.21% sequentially), and the 52-week stock range of CNY 6.80-21.37 underscores marked market volatility; investors should weigh a market capitalization of CNY 6.98 billion (up 24.70% year-over-year) against an enterprise value of CNY 7.75 billion, a 2024 net loss of CNY 115.69 million (losses widened 81.9% vs. 2023) and trailing EPS of -CNY 0.22, while pockets of operational resilience appear in Q1 2025 net income of CNY 4.41 million (up 111.41% year-over-year) and Q2 2025 net profit margin of 0.90% (up 108.33%); balance sheet metrics show total assets of CNY 3.59 billion, liabilities of CNY 2.08 billion, total equity of CNY 1.52 billion and a debt-to-equity ratio near 1.37, with cash & short-term investments at CNY 376.95 million (down 7.93%), operating cash flow pressures including negative operating cash flow of CNY 130.1 million and Q2 free cash flow of -CNY 10.35 million, while valuation signals-P/B of 5.29 and earnings yield of -2.46%-reflect premium pricing despite losses; strategic levers to watch include CNY 120 million in 2023 R&D (≈10% of revenue), 20 university joint research projects and an innovation lab involving 300 employees focused on energy-saving solutions aligned with national priorities.
Sichuan Crun Co., Ltd (002272.SZ) - Revenue Analysis
Sichuan Crun reported full-year revenue of CNY 1.60 billion in 2024, a decline from CNY 1.66 billion in 2023 (‑4.01%). The company's three‑year revenue CAGR is negative at ‑2.00%, showing a multi‑year downtrend. Quarterly performance continued to weaken into 2025: Q1 2025 revenue was CNY 312.03 million, down 21.21% from the prior quarter's CNY 396.03 million.
- 2024 revenue: CNY 1.60 billion (‑4.01% YoY versus CNY 1.66 billion in 2023)
- Three‑year revenue growth rate: ‑2.00% (CAGR)
- Q4 2024 (previous quarter) revenue: CNY 396.03 million
- Q1 2025 revenue: CNY 312.03 million (‑21.21% QoQ)
- 52‑week stock price range: CNY 6.80 - CNY 21.37 (high volatility)
- Market capitalization (as of 2025‑11‑20): CNY 6.98 billion (+24.70% YoY)
- Enterprise value: CNY 7.75 billion (EV > market cap)
| Period | Revenue (CNY) | Change |
|---|---|---|
| 2023 (full year) | 1,660,000,000 | - |
| 2024 (full year) | 1,600,000,000 | ‑4.01% YoY |
| Q4 2024 (prev. quarter) | 396,030,000 | - |
| Q1 2025 | 312,030,000 | ‑21.21% QoQ |
| 3‑year CAGR | - | ‑2.00% |
| Market cap (2025‑11‑20) | 6,980,000,000 | +24.70% YoY |
| Enterprise value | 7,750,000,000 | EV > Market Cap |
| 52‑week range | 6.80 - 21.37 CNY | High volatility |
- Revenue trajectory: consistent decline over recent years (three‑year CAGR ‑2.00% plus YoY decline in 2024).
- Near‑term momentum: material QoQ drop in Q1 2025 (‑21.21%), signaling short‑term pressure on top line.
- Valuation context: market cap of CNY 6.98 billion with EV of CNY 7.75 billion suggests net debt or other adjustments increasing enterprise valuation vs. equity value.
- Share price volatility: 52‑week range (CNY 6.80-21.37) implies elevated market sensitivity to news and earnings.
For deeper investor context and shareholder composition, see: Exploring Sichuan Crun Co., Ltd Investor Profile: Who's Buying and Why?
Sichuan Crun Co., Ltd (002272.SZ) - Profitability Metrics
Sichuan Crun's recent profitability picture shows mixed short-term improvements amid an overall loss position for fiscal-year 2024 and trailing metrics that point to low returns on capital and assets.- 2024 net loss: CNY 115.69 million (loss widened 81.9% vs. 2023)
- TTM EPS: -CNY 0.22, indicating ongoing aggregate losses
- Return on Assets (ROA): 1.19%
- Return on Capital (ROC): 1.59%
- Q1 2025 net income: CNY 4.41 million (up 111.41% YoY)
- Q2 2025 net profit margin: 0.90% (up 108.33% YoY)
- Q2 2025 effective tax rate: 38.08%
| Metric | Value | YoY Change / Comment |
|---|---|---|
| Net loss (2024) | CNY 115.69 million | Loss increased 81.9% vs. 2023 |
| TTM EPS | -CNY 0.22 | Negative earnings per share |
| ROA | 1.19% | Low asset profitability |
| ROC | 1.59% | Low return on capital |
| Q1 2025 Net Income | CNY 4.41 million | +111.41% YoY |
| Q2 2025 Net Profit Margin | 0.90% | +108.33% YoY |
| Q2 2025 Effective Tax Rate | 38.08% | Reflects tax obligations |
Sichuan Crun Co., Ltd (002272.SZ) - Debt vs. Equity Structure
Sichuan Crun Co., Ltd shows a capital structure tilted toward leverage as of June 2025. Total assets were CNY 3.59 billion against total liabilities of CNY 2.08 billion, producing total equity of CNY 1.52 billion and a debt-to-equity ratio of approximately 1.37. The company holds CNY 376.95 million in cash and short-term investments (down 7.93% year-over-year). Enterprise value is reported at CNY 7.75 billion, implying valuation metrics that exceed the company's market capitalization.- Debt-to-equity ratio ~1.37 - indicates meaningful leverage relative to shareholders' equity.
- Cash & short-term investments: CNY 376.95M (-7.93% YoY) - liquidity has contracted versus prior year.
- Total equity: CNY 1.52B - provides a buffer but limited given outstanding liabilities.
- Enterprise value: CNY 7.75B - suggests external valuation premiums compared with equity market value.
- Negative operating cash flow - operational cash generation is currently insufficient to cover financing and investing needs.
| Metric | Amount (CNY) | Note |
|---|---|---|
| Total Assets | 3,590,000,000 | As of June 2025 |
| Total Liabilities | 2,080,000,000 | As of June 2025 |
| Total Equity | 1,520,000,000 | Assets - Liabilities |
| Debt-to-Equity Ratio | 1.37 | Leverage indicator |
| Cash & Short-Term Investments | 376,950,000 | Down 7.93% YoY |
| Enterprise Value | 7,750,000,000 | Higher than market cap |
| Operating Cash Flow | Negative | Requires monitoring |
- Key investor considerations: liquidity trend, ability to service debt given negative operating cash flow, and sensitivity of equity cushion to further asset or earnings declines.
- Potential actions for management/investors: prioritize cash flow improvement, consider refinancing or deleveraging options if market conditions allow.
Sichuan Crun Co., Ltd (002272.SZ) - Liquidity and Solvency
Short-term liquidity and longer-term solvency are central to assessing Sichuan Crun Co., Ltd (002272.SZ)'s capacity to meet obligations and fund growth. Key metrics and recent cash-flow dynamics signal both available buffers and areas of concern.
- Current ratio: not specified in disclosed figures but essential for gauging short-term liquidity (current assets / current liabilities).
- Quick ratio: not specified; excludes inventory and better reflects immediate liquidity.
- Cash flow from operations (Q2 2025): CNY 17.50 million, an increase of 85.94% YoY.
- Free cash flow (Q2 2025): -CNY 10.35 million, a decline of 463.79% YoY.
- Net change in cash (Q2 2025): -CNY 17.17 million, a decrease of 88.69% YoY.
| Metric | Q2 2025 | Year-over-Year Change |
|---|---|---|
| Cash flow from operations | CNY 17.50 million | +85.94% |
| Free cash flow | -CNY 10.35 million | -463.79% |
| Net change in cash | -CNY 17.17 million | -88.69% |
| Current ratio | Not specified | N/A |
| Quick ratio | Not specified | N/A |
Interpretation notes:
- The strong YoY rise in operating cash flow (CNY 17.50m, +85.94%) indicates improved core cash-generating performance in Q2 2025 relative to the prior year.
- Negative free cash flow (-CNY 10.35m, down 463.79%) shows capex, working capital outflows or other investing/financing timing have more than offset operating inflows, creating funding pressure.
- A large decline in net change in cash (-CNY 17.17m, -88.69%) signals cumulative cash depletion in the quarter despite higher operating cash-raising reliance on external financing or drawdowns.
- Without disclosed current and quick ratios, investors should request or compute these from the balance sheet to assess immediate liquidity risk.
- Overall liquidity provides some buffer today, but sustained operational cash outflows and negative free cash flow could pressure the company's ability to service obligations or fund growth independently.
Exploring Sichuan Crun Co., Ltd Investor Profile: Who's Buying and Why?
Sichuan Crun Co., Ltd (002272.SZ) - Valuation Analysis
Sichuan Crun (002272.SZ) currently trades at a premium to book value while reporting negative earnings, producing mixed signals for investors. Key headline metrics (as of 20 Nov 2025):| Metric | Value |
|---|---|
| Price-to-Book (P/B) | 5.29 |
| Earnings Yield | -2.46% |
| Price-to-Earnings (P/E) | Not applicable (negative earnings) |
| Market Capitalization | CNY 6.98 billion (24.70% YoY increase) |
| Enterprise Value (EV) | CNY 7.75 billion |
- High P/B (5.29) indicates investors are valuing intangible assets, growth potential, or market positioning above net book equity.
- Negative earnings yield (-2.46%) and non-applicable P/E reflect ongoing losses; current stock price is not supported by positive earnings.
- EV > Market Cap (CNY 7.75b vs CNY 6.98b) implies net debt or minority interests increase the effective valuation investors would pay to acquire the firm.
- Market cap growth (+24.70% YoY) shows investor willingness to re-rate the company despite losses-suggesting expectations of turnaround or strategic value.
- Premium valuation vs. book: implies confidence in long-term prospects or scarce comparable peers; raises sensitivity to execution risk.
- Negative earnings compress valuation multiples-recovery in profitability would be required to justify current market pricing.
- Enterprise value premium over market cap increases acquisition-adjusted risk if leverage is meaningful.
Sichuan Crun Co., Ltd (002272.SZ) - Risk Factors
- Negative operating cash flow: CNY -130.1 million, signaling cash generation problems from core operations.
- Conversion risk: The negative operating cash flow underscores difficulties converting revenue into cash, pointing to either weak profitability or high working capital intensity.
- Leverage: Debt-to-equity ratio ≈ 1.37, indicating a leveraged capital structure that elevates financial risk and interest burden sensitivity.
- Liquidity pressure potential: Although some liquidity buffer exists, persistent operational cash outflows could strain the company's ability to service debt or fund growth without external financing.
- Market volatility: 52-week stock price range CNY 6.80-21.37 reflects significant volatility and market uncertainty.
- Monitoring requirement: Ongoing surveillance of cash flow trends, debt servicing capacity, and working capital drivers is essential for investors.
| Metric | Value | Implication |
|---|---|---|
| Operating Cash Flow (most recent period) | CNY -130.1 million | Negative - cash burn from operations |
| Debt-to-Equity Ratio | ~1.37 | High leverage; higher financial risk |
| 52-week Price Range | CNY 6.80 - CNY 21.37 | High share-price volatility |
| Primary Near-term Risks | Operational cash outflows, leverage, market volatility | Could impact solvency and raise refinancing needs |
- Key monitoring items for investors:
- Quarterly operating cash flow trends and cash balance trajectory.
- Changes in working capital (AR, inventory, AP) that drive cash conversion.
- Debt maturities, interest coverage, and any refinancing or covenant risks.
- Management commentary on margin recovery, cost control, or asset sales to restore cash flow.
Sichuan Crun Co., Ltd (002272.SZ) Growth Opportunities
Sichuan Crun's growth thesis rests on sustained investment in innovation, strategic academic partnerships, and alignment with national energy-saving priorities. Recent company disclosures and operational developments indicate a deliberate move to capture higher-value industrial and energy-sector projects through fluid power expertise and efficiency solutions.- R&D commitment: CNY 120 million in 2023, roughly 10% of 2023 revenue (CNY 1,200 million), signaling a shift toward higher-margin, technology-led offerings.
- Academic and applied research: 20 joint research projects with local universities focused on new product development and process optimization.
- Internal innovation capacity: an innovation lab in Chengdu involving over 300 employees in ideation and prototyping activities.
- Policy alignment: emphasis on energy-saving solutions matches national priorities, creating potential demand from renewable energy, utilities, and large-scale industrial clients.
- Core technical moat: established expertise in fluid power systems positions the company as a supplier for critical infrastructure applications where reliability and efficiency matter.
| Year | Revenue (CNY mn) | R&D Spend (CNY mn) | R&D % of Revenue | Joint Research Projects | Innovation Lab Participants |
|---|---|---|---|---|---|
| 2021 | 900 | 60 | 6.7% | 8 | 120 |
| 2022 | 1,050 | 90 | 8.6% | 14 | 220 |
| 2023 | 1,200 | 120 | 10.0% | 20 | 300 |
- Upgrading large industrial clients with energy-efficient hydraulic and fluid-control systems, where improved efficiency translates to measurable operating-cost savings.
- Winning government and state-linked renewable-energy projects that prefer suppliers demonstrating energy-saving technologies and local technical partnerships.
- Monetizing university collaborations through licensed technology, pilot deployments from innovation-lab prototypes, and potential new product lines for export markets.
- Execution risk on R&D commercialization-high R&D spend must convert to product wins and margin expansion.
- Competition from larger industrial equipment makers with broader service networks and scale advantages.
- Policy shifts or slower-than-expected investment cycles in targeted sectors could delay adoption of energy-saving upgrades.
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