Chanjet Information Technology Co Ltd reports 24.6% revenue growth in FY2016
17/03/2017 • About Chanjet Information Technology Co Ltd (
$1588) • By InTwits
Chanjet Information Technology Co Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is declining: in FY2016 vs. -24.4% in FY2015 vs. 36.0% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Chanjet Information Technology Co Ltd ($1588) key annual financial indicators
| mln. CNY | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 330.2 | 311.9 | 335.1 | 345.8 | 430.8 | 24.6% |
| Gross Profit | 294.6 | 284.9 | 309.6 | 316.0 | | -100.0% |
| SG&A | 125.8 | 117.9 | 119.4 | 348.3 | | -100.0% |
| EBITDA | 119.0 | 111.7 | 101.3 | -84.5 | | |
| Net Income | 118.9 | 121.1 | 101.6 | -72.6 | -122.6 | |
Balance Sheet
|
|---|
| Cash | 584.1 | 503.0 | 1,171.4 | 825.3 | | -100.0% |
| Short Term Debt | 0.0 | 0.0 | 0.0 | 0.0 | | |
| Long Term Debt | 0.0 | 0.0 | 0.0 | 0.0 | | |
Cash flow
|
|---|
| Capex | 1.4 | 4.9 | 12.9 | 14.9 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 8.0% | -5.5% | 7.4% | 3.2% | 24.6% | |
| EBITDA growth | -2.9% | -6.1% | -9.3% | -183.3% | | |
| Gross Margin | 89.2% | 91.3% | 92.4% | 91.4% | | -91.4% |
| EBITDA Margin | 36.0% | 35.8% | 30.2% | -24.4% | 0.0% | 24.4% |
| Net Income Margin | 36.0% | 38.8% | 30.3% | -21.0% | -28.5% | -7.5% |
| SG&A, % of revenue | 38.1% | 37.8% | 35.6% | 100.7% | | -100.7% |
| CAPEX, % of revenue | 0.4% | 1.6% | 3.9% | 4.3% | | -4.3% |
| ROIC | 23.8% | 19.7% | 9.6% | -10.7% | | 10.7% |
| ROE | 24.3% | 22.4% | 11.5% | -6.9% | | 6.9% |
| Net Debt/EBITDA | -4.9x | -4.5x | -11.6x | | | 0.0x |
Revenue and profitability
The company's Revenue jumped on 24.6%.
Net Income marign decreased on 7.5 pp from -21.0% to -28.5% in FY2016.
Appendix 1: Peers in Software
Below you can find Chanjet Information Technology Co Ltd benchmarking vs. other companies in Software industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Yunbo Digital Synergy Group Ltd ($8050) | | 241.6% | -31.9% | 348.0% | 99.6% |
| Pizu Group Holdings Ltd ($8053) | | -42.9% | 1,742.9% | 157.9% | 235.2% |
| China Eco-Farming Ltd ($8166) | -23.6% | -7.7% | 21.8% | 155.5% | |
| ICO Group Ltd ($8140) | | -11.1% | -3.1% | 104.9% | 29.8% |
| Aurum Pacific China Group Ltd ($8148) | | | 50.0% | 92.7% | -17.8% |
| |
|---|
| Median (37 companies) | 21.9% | 11.4% | 21.5% | 10.7% | -2.6% |
|---|
| Chanjet Information Technology Co Ltd ($1588) | | -5.5% | 7.4% | 3.2% | 24.6% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China Bio Cassava Holdings Ltd ($8129) | 90.4% | 97.4% | 98.4% | 98.3% | |
| China Binary Sale Technology Ltd ($8255) | 63.5% | 68.5% | 67.7% | 85.9% | |
| Kingdee International Software Group Co Ltd ($268) | 65.0% | 75.3% | 82.5% | 81.5% | 81.3% |
| Tian Ge Interactive Holdings Ltd ($1980) | 88.5% | 87.6% | 84.8% | 77.7% | |
| Kingsoft Corp Ltd ($3888) | 86.8% | 86.3% | 82.4% | 76.8% | |
| |
|---|
| Median (36 companies) | 40.0% | 38.6% | 39.7% | 41.4% | 38.6% |
|---|
| Chanjet Information Technology Co Ltd ($1588) | 89.2% | 91.3% | 92.4% | 91.4% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| International Entertainment Corp ($1009) | 50.8% | 64.0% | 54.9% | 62.0% | 45.5% |
| Sinosoft Technology Group Ltd ($1297) | 62.6% | 54.9% | 57.2% | 59.0% | |
| China Binary Sale Technology Ltd ($8255) | 35.1% | 35.4% | 44.4% | 50.5% | |
| Boyaa Interactive International Ltd ($434) | 38.5% | 25.8% | 30.7% | 47.6% | |
| TravelSky Technology Ltd ($696) | 38.1% | 35.8% | 31.9% | 41.1% | |
| |
|---|
| Median (37 companies) | 8.5% | 10.9% | 9.1% | 9.8% | 2.8% |
|---|
| Chanjet Information Technology Co Ltd ($1588) | 36.0% | 35.8% | 30.2% | -24.4% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| NetDragon Websoft Inc ($777) | 21.1% | 34.6% | 54.6% | 42.9% | |
| China Information Technology Development Ltd ($8178) | 4.1% | 1.1% | 0.5% | 40.7% | |
| Aurum Pacific China Group Ltd ($8148) | | 2.9% | 7.5% | 20.6% | |
| TravelSky Technology Ltd ($696) | 8.9% | 21.7% | 18.1% | 18.1% | |
| Kingsoft Corp Ltd ($3888) | 4.3% | 3.8% | 14.3% | 11.1% | |
| |
|---|
| Median (37 companies) | 1.4% | 1.8% | 3.1% | 2.0% | 0.8% |
|---|
| Chanjet Information Technology Co Ltd ($1588) | 0.4% | 1.6% | 3.9% | 4.3% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Pizu Group Holdings Ltd ($8053) | -21.8% | -13.4% | -6.8% | 120.0% | 51.7% |
| ICO Group Ltd ($8140) | | 43.5% | 6.8% | 37.7% | 27.1% |
| IGG Inc ($8002) | | 55.9% | 41.4% | 25.9% | |
| Boyaa Interactive International Ltd ($434) | 75.3% | 21.3% | 20.0% | 21.4% | |
| Sinosoft Technology Group Ltd ($1297) | 34.0% | 21.9% | 20.2% | 20.8% | |
| |
|---|
| Median (37 companies) | 4.7% | 6.1% | 3.9% | 2.3% | 4.4% |
|---|
| Chanjet Information Technology Co Ltd ($1588) | 23.8% | 19.7% | 9.6% | -10.7% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Epicurean and Co Ltd ($8213) | 2.3x | 4.7x | 12.3x | 12.0x | 13.9x |
| Sing Lee Software Group Ltd ($8076) | | | 6.2x | 4.4x | |
| Century Sage Scientific Holdings Ltd ($1450) | 0.2x | 0.0x | -0.2x | 1.8x | |
| Microsoft Corp ($4338) | | | 0.4x | 1.2x | 1.4x |
| Chinasoft International Ltd ($354) | -0.7x | 0.7x | 1.5x | 0.7x | |
| |
|---|
| Median (22 companies) | -1.0x | -1.4x | -1.5x | -1.1x | -0.1x |
|---|
