Financials Sino Biopharmaceutical Limited

Equities

1177

KYG8167W1380

Pharmaceuticals

Market Closed - Hong Kong S.E. 04:08:05 2024-05-31 am EDT 5-day change 1st Jan Change
2.84 HKD +1.43% Intraday chart for Sino Biopharmaceutical Limited -1.05% -18.16%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 122,159 118,610 83,443 74,593 58,030 48,228 - -
Enterprise Value (EV) 1 122,159 117,344 80,336 72,678 58,030 43,863 40,815 38,892
P/E ratio 45.1 x 42.8 x 6.07 x 33.2 x 25.1 x 17.8 x 15.6 x 14.6 x
Yield 0.75% 1.06% 1.46% 2.6% - 2.06% 2.4% 2.44%
Capitalization / Revenue 5.04 x 5.02 x 3.11 x 2.59 x 2.21 x 1.66 x 1.49 x 1.4 x
EV / Revenue 5.04 x 4.96 x 2.99 x 2.53 x 2.21 x 1.51 x 1.26 x 1.13 x
EV / EBITDA 19.1 x 20.4 x 15.5 x 10.5 x 8.96 x 5.95 x 5 x 4.47 x
EV / FCF 38.4 x 31.3 x 21.1 x 16.1 x - 8.55 x 8.54 x 6.56 x
FCF Yield 2.61% 3.19% 4.74% 6.2% - 11.7% 11.7% 15.2%
Price to Book 3.94 x 7.09 x 2.76 x 2.51 x 1.95 x 1.44 x 1.32 x 1.23 x
Nbr of stocks (in thousands) 18,810,956 18,789,999 18,756,114 18,481,249 18,399,239 18,337,124 - -
Reference price 2 6.494 6.312 4.449 4.036 3.154 2.630 2.630 2.630
Announcement Date 3/30/20 3/23/21 3/31/22 3/31/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 24,234 23,647 26,861 28,780 26,199 29,095 32,304 34,538
EBITDA 1 6,399 5,753 5,174 6,908 6,476 7,375 8,170 8,706
EBIT 1 4,840 4,098 4,182 5,861 5,439 6,149 6,823 7,349
Operating Margin 19.97% 17.33% 15.57% 20.37% 20.76% 21.13% 21.12% 21.28%
Earnings before Tax (EBT) 1 5,584 5,013 18,573 5,779 5,215 6,343 7,022 7,665
Net income 1 2,707 2,771 14,608 2,544 2,332 2,727 3,109 3,322
Net margin 11.17% 11.72% 54.38% 8.84% 8.9% 9.37% 9.62% 9.62%
EPS 2 0.1439 0.1474 0.7326 0.1215 0.1259 0.1475 0.1686 0.1804
Free Cash Flow 1 3,184 3,743 3,805 4,505 - 5,129 4,780 5,928
FCF margin 13.14% 15.83% 14.17% 15.65% - 17.63% 14.8% 17.16%
FCF Conversion (EBITDA) 49.76% 65.06% 73.54% 65.21% - 69.55% 58.51% 68.09%
FCF Conversion (Net income) 117.63% 135.08% 26.05% 177.12% - 188.06% 153.78% 178.45%
Dividend per Share 2 0.0488 0.0671 0.0648 0.1050 - 0.0543 0.0632 0.0641
Announcement Date 3/30/20 3/23/21 3/31/22 3/31/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 12,648 6,254 6,254 - - 15,194 13,587 15,277 10,922 15,317 13,484 15,910 15,635
EBITDA - - - - - - - - - - - - -
EBIT 2,417 525.1 525.1 - - 3,252 2,700 3,219 2,220 3,369 2,791 3,721 3,070
Operating Margin 19.11% 8.4% 8.4% - - 21.4% 19.87% 21.07% 20.33% 22% 20.7% 23.39% 19.63%
Earnings before Tax (EBT) - - - - - - - 3,224 1,991 - - - -
Net income - - - - - - - 1,259 1,073 - - - -
Net margin - - - - - - - 8.24% 9.83% - - - -
EPS 1 - 0.1500 0.1500 0.0500 0.0500 0.0920 0.0295 0.0678 0.0581 0.0800 0.0600 0.0900 0.0900
Dividend per Share - - - - - - - - - - - - -
Announcement Date 8/28/20 9/26/22 3/31/22 9/26/22 8/23/22 8/23/22 3/31/23 8/25/23 3/28/24 - - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - 1,266 3,107 1,915 - 4,364 7,412 9,336
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 3,184 3,743 3,805 4,505 - 5,129 4,780 5,928
ROE (net income / shareholders' equity) 8.97% 17.5% 62.1% 8.47% 7.75% 8.05% 8.73% 8.6%
ROA (Net income/ Total Assets) 5.01% 6.54% 27.1% 4.08% 3.65% 5.08% 5.2% 5.35%
Assets 1 54,040 42,371 53,877 62,304 63,836 53,705 59,819 62,067
Book Value Per Share 2 1.650 0.8900 1.610 1.610 1.620 1.830 1.990 2.140
Cash Flow per Share 2 0.2800 0.2800 0.2900 0.3300 - 0.3500 0.3900 0.4100
Capex 1 2,141 1,582 1,561 1,760 - 1,311 1,347 1,270
Capex / Sales 8.83% 6.69% 5.81% 6.12% - 4.51% 4.17% 3.68%
Announcement Date 3/30/20 3/23/21 3/31/22 3/31/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
26
Last Close Price
2.63 CNY
Average target price
4.256 CNY
Spread / Average Target
+61.82%
Consensus
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