China Renji Medical Group Ltd/Hong Kong revenue surged on 52.6%
20/03/2017 • About China Renji Medical Group Ltd/Hong Kong (
$648) • By InTwits
China Renji Medical Group Ltd/Hong Kong 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. -100.9% in FY2015 vs. 55.2% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
China Renji Medical Group Ltd/Hong Kong ($648) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 134.4 | 111.0 | 85.4 | 127.2 | 194.2 | 52.6% |
| Gross Profit | 94.1 | 74.6 | 67.1 | 28.4 | | -100.0% |
| SG&A | | | 66.2 | 191.5 | | -100.0% |
| EBITDA | 74.2 | 67.8 | 12.2 | -128.3 | | |
| Net Income | 61.3 | -122.7 | -61.1 | -436.5 | -311.4 | |
Balance Sheet
|
|---|
| Cash | 116.0 | 83.8 | 178.1 | 91.7 | | -100.0% |
| Short Term Debt | 94.7 | 78.6 | 152.9 | 129.8 | | -100.0% |
| Long Term Debt | 0.0 | 0.0 | 100.6 | 166.5 | | -100.0% |
Cash flow
|
|---|
| Capex | 8.3 | 6.1 | 2.7 | 7.7 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -11.7% | -17.5% | -23.0% | 49.0% | 52.6% | |
| EBITDA growth | -13.8% | -8.7% | -82.0% | -1,154.4% | | |
| Gross Margin | 70.0% | 67.3% | 78.6% | 22.3% | | -22.3% |
| EBITDA Margin | 55.2% | 61.1% | 14.3% | -100.9% | 0.0% | 100.9% |
| Net Income Margin | 45.6% | -110.6% | -71.6% | -343.1% | -160.3% | 182.7% |
| SG&A, % of revenue | | | 77.6% | 150.5% | | -150.5% |
| CAPEX, % of revenue | 6.1% | 5.5% | 3.2% | 6.0% | | -6.0% |
| ROIC | 8.0% | 6.0% | 0.3% | -15.8% | | 15.8% |
| ROE | 13.2% | -27.1% | -14.2% | -105.1% | | 105.1% |
| Net Debt/EBITDA | -0.3x | -0.1x | 6.2x | | | 0.0x |
Revenue and profitability
The company's Revenue jumped on 52.6%.
Net Income marign jumped on 183 pp from -343% to -160% in FY2016.
Appendix 1: Peers in Holding Companies-Divers
Below we provide China Renji Medical Group Ltd/Hong Kong benchmarking against other companies in Holding Companies-Divers industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Beijing Development HK Ltd ($154) | 12.5% | | | 1,048.9% | |
| Kong Sun Holdings Ltd ($295) | -88.3% | 5.1% | 7,067.0% | 231.2% | |
| CIAM Group Ltd ($378) | -62.2% | 47.9% | -40.0% | 211.5% | |
| Melco International Development Ltd ($200) | 16.5% | 21.7% | 3.0% | 134.9% | |
| New Century Group Hong Kong Ltd ($234) | | 326.7% | -70.3% | 118.2% | -78.2% |
| |
|---|
| Median (45 companies) | 4.3% | 5.1% | 15.7% | 6.1% | -3.9% |
|---|
| China Renji Medical Group Ltd/Hong Kong ($648) | | -17.5% | -23.0% | 49.0% | 52.6% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| New Century Group Hong Kong Ltd ($234) | 27.3% | 85.2% | 82.8% | 91.5% | 43.4% |
| Melco International Development Ltd ($200) | 63.1% | 52.9% | 54.5% | 79.4% | |
| CIAM Group Ltd ($378) | | | | 75.8% | |
| Emperor International Holdings Ltd ($163) | 71.3% | 64.9% | 79.2% | 75.3% | 55.3% |
| Heng Fai Enterprises Ltd ($185) | 89.0% | 89.5% | 58.3% | 74.7% | |
| |
|---|
| Median (39 companies) | 32.9% | 34.6% | 30.8% | 37.5% | 38.0% |
|---|
| China Renji Medical Group Ltd/Hong Kong ($648) | 70.0% | 67.3% | 78.6% | 22.3% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| New Century Group Hong Kong Ltd ($234) | -5.5% | 78.8% | 58.3% | 85.0% | 33.8% |
| Emperor International Holdings Ltd ($163) | 180.7% | 131.8% | 100.6% | 73.9% | -20.1% |
| Pioneer Global Group Ltd ($224) | -0.5% | -9.9% | -11.6% | 64.3% | 66.8% |
| C C Land Holdings Ltd ($1224) | 27.0% | 23.6% | 24.6% | 55.7% | |
| China Merchants Holdings International Co Ltd ($144) | 56.4% | 50.8% | 45.2% | 55.7% | |
| |
|---|
| Median (45 companies) | 2.8% | 2.8% | 7.4% | 6.8% | 9.2% |
|---|
| China Renji Medical Group Ltd/Hong Kong ($648) | 55.2% | 61.1% | 14.3% | -100.9% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Heng Fai Enterprises Ltd ($185) | 4.8% | 77.1% | 310.0% | 458.1% | |
| Chinney Investments Ltd ($216) | 17.5% | 103.4% | 111.3% | 230.9% | 26.6% |
| China Investments Holdings Ltd ($132) | 4.8% | 81.9% | 382.2% | 222.5% | |
| Goldin Properties Holdings Ltd ($283) | 2,178.4% | 1,190.0% | 50.1% | 202.4% | 128.8% |
| Carnival Group International Holdings Ltd ($996) | | 137.9% | 61.0% | 133.3% | |
| |
|---|
| Median (45 companies) | 2.5% | 3.6% | 6.1% | 9.2% | 9.0% |
|---|
| China Renji Medical Group Ltd/Hong Kong ($648) | 6.1% | 5.5% | 3.2% | 6.0% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Fulum Group Holdings Ltd ($1443) | | 116.3% | 55.5% | 29.8% | 12.9% |
| C C Land Holdings Ltd ($1224) | 7.4% | 5.3% | 7.9% | 15.0% | |
| Chinney Alliance Group Ltd ($385) | 6.4% | 8.1% | 13.6% | 15.0% | |
| Niraku GC Holdings Inc ($1245) | | 19.0% | 18.8% | 13.1% | 2.7% |
| Top Spring International Holdings Ltd ($3688) | 15.6% | 6.9% | 7.3% | 8.0% | |
| |
|---|
| Median (45 companies) | -0.2% | 0.2% | 1.2% | 0.3% | 2.2% |
|---|
| China Renji Medical Group Ltd/Hong Kong ($648) | 8.0% | 6.0% | 0.3% | -15.8% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Chinney Investments Ltd ($216) | 10.3x | 63.7x | 48.6x | 93.7x | 13.5x |
| Carnival Group International Holdings Ltd ($996) | | | 23.7x | 92.3x | |
| Multifield International Holdings Ltd ($898) | 3.2x | 7.3x | 3.0x | 55.9x | |
| Kong Sun Holdings Ltd ($295) | | | -23.0x | 34.0x | |
| CIAM Group Ltd ($378) | | | | 32.6x | |
| |
|---|
| Median (27 companies) | 2.4x | 2.9x | 2.6x | 2.8x | 2.8x |
|---|
