Breaking Down Shanghai Anoky Group Co., Ltd Financial Health: Key Insights for Investors

Investors examining Shanghai Anoky Group Co., Ltd. (300067.SZ) will want to weigh a mix of stark figures: quarterly revenue fell to CNY 252.58 million (down 8.16% year-over-year) even as TTM revenue reached CNY 1.01 billion (a 13.25% YoY rise) and 2024 annual sales hit CNY 973.45 million (+20.32% vs. 2023); profitability paints a different picture with TTM net loss of -CNY 53.96 million, EPS of -CNY 0.05, ROE at -1.99% and an operating loss of -CNY 45.20 million for Q2 2025 despite EBITDA of CNY 31.17 million; balance-sheet and valuation metrics add nuance-market cap CNY 5.23 billion (share price CNY 4.530 as of 2025-10-14), P/S around 5.18, P/B 2.12, EV CNY 6.12 billion with an extreme EV/EBITDA of 185.33, total debt CNY 852.57 million versus equity CNY 2.53 billion (debt/equity 0.34) and cash down 44.69% to CNY 131.87 million, while free cash flow surged to CNY 49.45 million for the quarter; risks include a 177% three‑year median payout ratio and a 44% decline in net income over five years even as the company invests CNY 600 million in R&D and CNY 200 million in eco‑projects-read on for a detailed breakdown and what these metrics mean for potential buyers and existing shareholders

Shanghai Anoky Group Co., Ltd (300067.SZ) - Revenue Analysis

Shanghai Anoky Group's recent top-line performance shows mixed short-term softness against stronger full-year momentum. The quarter ending June 30, 2025 recorded revenue of CNY 252.58 million, down 8.16% year-over-year, while trailing twelve months (TTM) revenue and full-year 2024 results demonstrate growth.

• Q2 2025 (quarter ended 2025-06-30) revenue: CNY 252.58 million (-8.16% YoY)
• TTM revenue: CNY 1.01 billion (+13.25% YoY)
• Full-year 2024 revenue: CNY 973.45 million (+20.32% vs. 2023)
• Revenue per employee: ~CNY 1.47 million (688 employees)

Key implications for revenue quality and investor interpretation:

• Short-term pressure: Q2 2025 decline (-8.16% YoY) suggests transient demand or quarter-specific headwinds that warrant monitoring of orders, backlog and margins.
• Underlying growth: TTM revenue of CNY 1.01 billion (+13.25% YoY) and 2024's +20.32% imply the company has expanded sales over the last 12-24 months despite quarter volatility.
• Operational productivity: Revenue per employee (~CNY 1.47 million) provides a productivity benchmark against peers; useful when evaluating scalability and labor intensity.
• Valuation context: A P/S of 5.18 and market cap of CNY 5.23 billion (share price CNY 4.530 on 2025-10-14) indicate market expectations of continued growth - compare to sector P/S multiples to judge relative premium/discount.

For additional corporate context on strategy and long-term priorities, see: Mission Statement, Vision, & Core Values (2026) of Shanghai Anoky Group Co., Ltd.

Shanghai Anoky Group Co., Ltd (300067.SZ) - Profitability Metrics

Recent trailing twelve-month and quarterly figures point to clear profitability stress at Shanghai Anoky Group Co., Ltd (300067.SZ). Key headline metrics for the latest available periods are listed and interpreted below.

• Net income (TTM): loss of CNY 53.96 million → net profit margin: -5.39%.
• EPS (TTM): -CNY 0.05, reflecting negative earnings per share.
• ROE (TTM): -1.99%, indicating the company is not generating positive returns on shareholders' equity.
• ROA (TTM): -0.79%, showing low efficiency in using assets to produce profit.
• Operating income (quarter ended 2025-06-30): loss of CNY 45.20 million.
• EBITDA (quarter ended 2025-06-30): CNY 31.17 million, signaling positive operating cash-flow proxy despite operating loss.

Interpretation highlights:

• The negative net income and EPS signal persistent unprofitability at the bottom line over the TTM period.
• Negative ROE and ROA demonstrate that neither equity nor assets are producing positive returns, a concern for equity investors.
• The contrast between a quarterly operating loss (CNY 45.20M) and positive EBITDA (CNY 31.17M) suggests material non-cash charges (depreciation, amortization) or financing/tax items affecting net results; EBITDA-positive status can imply operating cash potential despite accounting losses.
• Net profit margin of -5.39% quantifies how much each CNY of revenue is eroded by losses, useful for comparing peers in the sector.

For context on the company's stated direction and longer-term objectives, see Mission Statement, Vision, & Core Values (2026) of Shanghai Anoky Group Co., Ltd.

Shanghai Anoky Group Co., Ltd (300067.SZ) - Debt vs. Equity Structure

Key balance-sheet and liquidity metrics for Shanghai Anoky Group Co., Ltd (300067.SZ) highlight a capital structure with modest leverage but strained earnings cover and liquidity cushions.

• Debt-to-equity ratio: 0.34 - moderate leverage relative to shareholders' equity.
• Total debt: CNY 852.57 million; Total equity: CNY 2.53 billion.
• Net cash position: -CNY 720.71 million (negative after accounting for debt).
• Interest coverage ratio: -2.50 - earnings are insufficient to cover interest expenses.
• Current ratio: 1.16 - short-term assets slightly exceed short-term liabilities.
• Quick ratio: 0.68 - limited ability to meet short-term obligations without inventory sales.

Practical considerations for investors include assessing earnings recovery or refinancing options to improve interest coverage and addressing the negative net cash position to reduce solvency risk. For broader corporate background and context on capital allocation, see Shanghai Anoky Group Co., Ltd: History, Ownership, Mission, How It Works & Makes Money

Shanghai Anoky Group Co., Ltd (300067.SZ) - Liquidity and Solvency

• Cash and cash equivalents: CNY 131.87 million (down 44.69% year-over-year)
• Total assets: CNY 3.54 billion
• Total liabilities: CNY 993.82 million
• Estimated shareholders' equity (assets - liabilities): CNY 2,546.18 million
• Net change in cash for quarter ended 30 Jun 2025: increase of CNY 5.97 million
• Free cash flow for the same period: CNY 49.45 million (up 96.87% YoY)
• Beta: 0.66 (lower volatility vs. market)
• 52‑week price change: -16.96%

• Liquidity: The sharp 44.69% decline in cash and equivalents is noteworthy and warrants monitoring of operating cash conversion and working capital trends despite a quarterly net increase of CNY 5.97M.
• Cash generation: A near-doubling (+96.87%) of free cash flow in the quarter to CNY 49.45M signals improving cash-generative operations even as headline cash balances are lower year-over-year.
• Solvency: With total liabilities of CNY 993.82M against assets of CNY 3.54B, the implied liabilities-to-assets ratio is roughly 28.1%, supporting a strong equity base (≈CNY 2.55B) and conservative balance-sheet leverage.
• Market risk: A beta of 0.66 suggests the stock is less volatile than the broader market, but the 52-week price decline of -16.96% indicates recent negative price momentum that investors should contextualize with fundamentals.
• Key monitoring items: operating cash flow trends, capex needs vs. free cash flow sustainability, short-term working capital demands, and any off-balance-sheet liabilities.

Shanghai Anoky Group Co., Ltd (300067.SZ) - Valuation Analysis

• Price-to-Book (P/B): 2.12 - market values equity at slightly more than twice book value.
• Enterprise Value (EV): CNY 6.12 billion - exceeds market cap, signalling net debt or minority/other adjustments.
• EV/EBITDA: 185.33 - extremely high, implying very low EBITDA relative to enterprise value or transient operating profits.
• EV/FCF: -34.45 - negative free cash flow driving a negative ratio (EV divided by negative FCF).
• Price-to-Sales (P/S): 5.36 - investors pay CNY 5.36 per yuan of revenue.
• Price-to-Tangible-Book (P/TBV): 2.40 - tangible equity valued at 2.4x on the market.

Shanghai Anoky Group Co., Ltd (300067.SZ) - Risk Factors

Investors assessing Shanghai Anoky Group Co., Ltd (300067.SZ) should weigh a mix of shareholder-friendly signals against several material financial stresses. The following points summarize the primary risk considerations supported by recent performance indicators.

• Dividend history: The company has distributed dividends for at least ten consecutive years, indicating a commitment to returning capital to shareholders but also creating fixed expectations.
• Payout sustainability: A three-year median payout ratio of 177% implies dividends have significantly exceeded reported earnings, raising sustainability concerns if earnings do not recover.
• Profitability trend: Net income declined by 44% over the last five years, signaling deteriorating profitability and potential structural issues in margins or revenue mix.
• Cash generation: Operating cash flow is negative, which suggests current operations are not generating sufficient cash to fund working capital, investment needs, or dividends without external financing.
• Debt servicing: A negative interest coverage ratio indicates earnings are inadequate to cover interest expenses, elevating default and refinancing risk under adverse conditions.
• Market volatility: The company's beta of 0.66 points to lower-than-market volatility, potentially attractive to risk-averse investors but not offsetting fundamental weaknesses.

• Potential financing pressure: Negative OCF combined with payouts > earnings and negative interest coverage increases the likelihood of equity raises, debt restructuring, or dividend cuts.
• Operational turnaround requirement: A reversal in net income trends and restoration of positive operating cash flow are critical to de-risk the investment thesis.
• Monitoring triggers: Watch quarterly OCF, interest coverage trajectory, and any management commentary on capital allocation or dividend policy changes.

For more detail on shareholder composition and trading context, see: Exploring Shanghai Anoky Group Co., Ltd Investor Profile: Who's Buying and Why?

Shanghai Anoky Group Co., Ltd (300067.SZ) - Growth Opportunities

• R&D commitment: CNY 600 million invested in R&D, representing ~13.3% of total revenue (latest fiscal year).
• CSR & sustainability spend: ~CNY 200 million allocated to eco-friendly technologies and waste reduction in 2022; environmental projects rose 25% YoY.
• Operational efficiency: Digital transformation initiatives contributed to an estimated 10% reduction in production costs in 2022.
• Industry dynamics: Mature sector with price sensitivity and heightened environmental regulatory pressures that could cap margin expansion.

• Investment implications: High R&D intensity suggests potential for product differentiation and margin protection if innovation yields premium offerings.
• Sustainability trajectory: Increased environmental spending reduces regulatory risk and can open green premium markets, but raises short-term capex and operating intensity.
• Operational impact: The reported ~10% production cost reduction improves competitiveness; sustained digitalization is key to further margin recovery.
• Risks: Price sensitivity in the core market and tightening environmental standards could limit revenue growth and compress margins absent continued innovation or vertical integration.