Shanghai Chicmax Cosmetics Co., Ltd. Class H (2145) AI Stock Analysis

• Market Cap: HK$27.22B
• Dividend Yield: 2.53%
• Average Volume (3M): 662.88K
• Price to Earnings (P/E): 26.9
• Beta (1Y): 0.97
• Revenue Growth: 20.78%
• EPS Growth: 18.37%
• Country: HK
• Employees: 2,086
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Household & Personal Products
• EPS (TTM): 1.45
• Shares Outstanding: 206,354,540
• 10 Day Avg. Volume: 806,967
• 30 Day Avg. Volume: 662,882
• PEG Ratio: 0.24
• Price to Book (P/B): 5.94
• Price to Sales (P/S): 1.92
• P/FCF Ratio: 42.80
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$113.52
• Price Target Upside: 63.57% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: HK$71.00 ▲(2.31% Upside)

Shanghai Chicmax Cosmetics Co., Ltd. has a strong financial foundation with robust growth and profitability, which is the most significant factor in its overall score. However, the stock is currently facing bearish technical indicators, which weigh down the score. The valuation is moderate, with a high P/E ratio but a decent dividend yield. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Low leverage & strong equity base

A debt-to-equity of 0.05 and an equity ratio of 61.41% provide long-term financial flexibility and downside protection. Low leverage reduces refinancing risk and supports sustained investment in product development, marketing, and distribution without over-reliance on external debt.

High return on equity

A 36.37% ROE reflects strong profitability relative to shareholder capital and suggests efficient asset and brand monetization. Persistently high ROE can indicate durable competitive advantages in product mix, pricing power, or channel economics that support long-term shareholder returns.

Improving free cash flow growth

20.27% TTM FCF growth signals improving cash generation capability, enhancing the company's ability to fund organic growth, marketing, and dividends. Rising FCF trends strengthen balance-sheet resilience and provide optionality for strategic investments or bolt-on M&A over the medium term.

Negative Factors

Weak operating cash conversion

An OCF-to-net-income ratio of 0.16 indicates earnings are not translating proportionally into cash. Persistent low cash conversion can constrain reinvestment, force external financing for growth, and reduce the reliability of reported profits as a source of funding for long-term initiatives.

Suboptimal free cash flow conversion

FCF-to-net-income of 0.44 means less than half of accounting profits convert to free cash. Over time this gap can limit capital allocation flexibility, make dividends or buybacks less sustainable, and signal working-capital or capex timing issues that could hinder long-term cash resilience.

Modest recent TTM revenue growth

A TTM revenue increase of 4.27% is modest relative to longer-term potential and may indicate near-term demand saturation or channel challenges. Slower top-line momentum can reduce operating leverage benefits and make margin expansion or rapid reinvestment harder to sustain over the medium term.

Shanghai Chicmax Cosmetics Co., Ltd. Class H Business Overview & Revenue Model

Company Description

Shanghai Chicmax Cosmetic Co., Ltd., a multi-brand cosmetics company, engages in the research, development, manufacture, and sale of skincare, and maternity and childcare products in China. The company offers a range of cosmetics, such as essence creams, lotions, shampoos, facial masks, and other skincare and hair care products under the KANS, One Leaf, Baby Elephant, BIO-G, asnami, KYOCA, newpage, ARMIYO, and TAZU brands. It also engages in supply chain management activities. The company was formerly known as Shanghai Kaka Cosmetic Co., Ltd. and changed its name to Shanghai Chicmax Cosmetic Co., Ltd. in 2020. Shanghai Chicmax Cosmetic Co., Ltd. was founded in 2003 and is based in Shanghai, the People's Republic of China.

How the Company Makes Money

Chicmax generates revenue through multiple key streams including direct sales of its cosmetics and skincare products through retail channels, e-commerce platforms, and partnerships with beauty retailers. The company also benefits from private label services where it manufactures products for other brands, thus diversifying its income sources. Furthermore, strategic collaborations with distributors and influencers in the beauty industry enhance its market reach and brand visibility, driving sales growth. The company's focus on research and development allows for the continuous introduction of new products, keeping its offerings fresh and appealing to a broad consumer base.

Shanghai Chicmax Cosmetics Co., Ltd. Class H Financial Statement Overview

Summary

Shanghai Chicmax Cosmetics Co., Ltd. demonstrates strong financial performance with robust revenue growth, high profitability margins, and low leverage. The company effectively utilizes its equity to generate returns, although there is room to improve cash conversion efficiency. Overall, the financial statements reflect a well-managed company with a positive growth outlook and financial stability.

Income Statement

Shanghai Chicmax Cosmetics Co., Ltd. shows strong revenue growth with a TTM increase of 4.27%. The company maintains high gross and net profit margins at 75.22% and 11.50%, respectively, indicating robust profitability. EBIT and EBITDA margins are also healthy, reflecting efficient operations. Overall, the income statement reflects a positive growth trajectory and strong profitability.

Balance Sheet

The balance sheet is solid with a low debt-to-equity ratio of 0.05, indicating low leverage and financial stability. The return on equity is impressive at 36.37%, showcasing effective use of equity to generate profits. The equity ratio stands at 61.41%, suggesting a strong equity base relative to total assets. Overall, the balance sheet reflects financial stability and efficient equity utilization.

Cash Flow

Cash flow analysis shows a significant improvement in free cash flow growth at 20.27% TTM, indicating enhanced cash generation capabilities. The operating cash flow to net income ratio is moderate at 0.16, while the free cash flow to net income ratio is 0.44, suggesting room for improvement in cash conversion efficiency. Overall, the cash flow statement indicates positive cash flow growth but highlights potential areas for enhancing cash efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.40B	6.79B	4.19B	2.68B	3.62B	3.38B
Gross Profit	5.53B	5.11B	2.99B	1.70B	2.36B	2.19B
EBITDA	808.01M	752.09M	676.04M	268.88M	404.70M	403.95M
Net Income	904.16M	781.21M	461.10M	147.10M	338.89M	203.46M
Balance Sheet
Total Assets	3.95B	3.60B	3.13B	3.15B	2.27B	2.22B
Cash, Cash Equivalents and Short-Term Investments	799.88M	732.71M	914.50M	1.17B	157.26M	174.24M
Total Debt	300.83M	111.67M	165.57M	728.20M	285.04M	544.10M
Total Liabilities	1.45B	1.36B	1.10B	1.44B	1.32B	1.64B
Stockholders Equity	2.43B	2.19B	2.01B	1.71B	949.98M	578.95M
Cash Flow
Free Cash Flow	473.06M	304.38M	657.69M	-23.51M	269.46M	124.56M
Operating Cash Flow	715.30M	546.95M	746.16M	36.56M	335.19M	265.97M
Investing Cash Flow	-74.30M	-187.03M	-457.49M	-66.78M	-55.29M	-6.95M
Financing Cash Flow	-556.10M	-595.67M	-737.21M	1.03B	-289.56M	-239.93M

Shanghai Chicmax Cosmetics Co., Ltd. Class H Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 69.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2145, the sentiment is Negative. The current price of 69.4 is below the 20-day moving average (MA) of 72.28, below the 50-day MA of 78.49, and below the 200-day MA of 80.40, indicating a bearish trend. The MACD of -3.05 indicates Positive momentum. The RSI at 37.76 is Neutral, neither overbought nor oversold. The STOCH value of 15.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2145.

Shanghai Chicmax Cosmetics Co., Ltd. Class H Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6601	74 Outperform	HK$3.12B	14.69	6.65%	5.90%	9.72%	-10.15%
1044	73 Outperform	HK$32.69B	13.25	10.69%	5.36%	-3.48%	-24.11%
2367	66 Neutral	HK$34.54B	13.73	29.64%	1.84%	36.70%	22.26%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
2145	61 Neutral	HK$27.22B	26.92	39.62%	2.53%	20.78%	18.37%
6993	43 Neutral	HK$16.36B	-28.69	-6.08%	5.00%	2.79%	-170.67%
0157	41 Neutral	HK$940.99M	-15.11	-12.38%	―	39.29%	-71.82%

Shanghai Chicmax Cosmetics Co., Ltd. Class H Corporate Events

Shanghai Chicmax Executive Director Boosts Stake with HK$66 Million Share Purchases

Executive director Luo Yan has significantly increased her stake in Shanghai Chicmax Cosmetic Co., Ltd., purchasing 363,600 H shares on the open market on 29 December 2025 at an average price of about HK$75.46 per share, lifting her total holding to 2,867,200 shares, or 1.39% of the company’s issued share capital. Including earlier purchases made throughout December using her personal funds, Luo’s total share acquisitions for the month reached roughly HK$66.32 million, a move the company highlights as a demonstration of her strong confidence in Shanghai Chicmax’s future development, even as it cautions shareholders and potential investors to exercise care when trading its securities.

The most recent analyst rating on (HK:2145) stock is a Hold with a HK$91.00 price target. To see the full list of analyst forecasts on Shanghai Chicmax Cosmetics Co., Ltd. Class H stock, see the HK:2145 Stock Forecast page.