Company Valuation: China Come Ride New Energy Group Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2019 2020 2021 2022 2023 2024
Market Cap 1 3,595 815.1 376.2 986 345.1 305.7
Change - -77.33% -53.85% 162.09% -65% -11.43%
Enterprise Value (EV) 1 3,573 818 387.2 988.9 344.9 308.7
Change - -77.1% -52.67% 155.41% -65.12% -10.48%
P/E -697x -23.7x -28.6x 2,392x -74.3x -63x
PBR 79.3x 74.2x -174x 116x 89.3x -309x
PEG - -0x 0.5x -23x 0x -14.06x
Capitalization / Revenue 78.4x 27.4x 9.12x 27.5x 7.61x 9.96x
EV / Revenue 77.9x 27.5x 9.39x 27.6x 7.6x 10.1x
EV / EBITDA -834x -41.8x -30.2x 823x -67.8x -62.2x
EV / EBIT -723x -40.5x -29.5x 974x -66.7x -61.2x
EV / FCF -291x -221x -56x -850x 76.5x -1,001x
FCF Yield -0.34% -0.45% -1.79% -0.12% 1.31% -0.1%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.0123 -0.0821 -0.0314 0.000836 -0.009419 -0.009841
Distribution rate - - - - - -
Net sales 1 45.85 29.78 41.25 35.82 45.37 30.67
EBITDA 1 -4.283 -19.56 -12.82 1.202 -5.089 -4.961
EBIT 1 -4.94 -20.22 -13.11 1.015 -5.167 -5.049
Net income 1 -5.155 -34.33 -13.14 0.388 -4.644 -4.852
Net Debt 1 -21.98 2.912 10.98 2.908 -0.206 3.087
Reference price 2 8.6000 1.9500 0.9000 2.0000 0.7000 0.6200
Nbr of stocks (in thousands) 418,000 418,000 418,000 493,000 493,000 493,000
Announcement Date 7/1/19 7/1/20 6/30/21 8/19/22 4/18/24 7/31/24
1HKD in Million2HKD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 9.5M
19x1.52x10.91x3.01% 4.94B
11.55x0.45x6.62x3.5% 1.56B
18.06x1.09x7.78x4.46% 1.17B
14.18x - - - 1.04B
Average 15.70x 1.02x 8.44x 3.66% 1.74B
Weighted average by Cap. 16.96x 1.24x 9.56x 3.33%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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