Financials Goldcard Smart Group Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
14.51 ^CNY	+8.12%		+10.34%	+16.83%

Apr. 17	Goldcard Smart Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 01	Tranche Update on Goldcard Smart Group Co., Ltd.'s Equity Buyback Plan announced on February 7, 2024.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,544	5,428	5,082	3,917	5,053	6,007	-	-
Enterprise Value (EV) ¹	6,544	5,428	5,082	3,917	5,053	6,007	6,007	6,007
P/E ratio	15.6 x	48.7 x	19.1 x	14.6 x	12.4 x	12.1 x	9.69 x	7.86 x
Yield	3.28%	3.75%	0.83%	1.07%	4.03%	1.17%	-	-
Capitalization / Revenue	3.32 x	2.81 x	2.21 x	1.43 x	1.59 x	1.59 x	1.29 x	1.07 x
EV / Revenue	3.32 x	2.81 x	2.21 x	1.43 x	1.59 x	1.59 x	1.29 x	1.07 x
EV / EBITDA	12.2 x	25 x	14.1 x	10.5 x	8.95 x	8.29 x	6.68 x	5.46 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.78 x	1.52 x	1.41 x	1.03 x	1.22 x	1.31 x	1.15 x	1.01 x
Nbr of stocks (in thousands)	429,119	429,054	421,714	418,076	406,840	413,976	-	-
Reference price ²	15.25	12.65	12.05	9.370	12.42	14.51	14.51	14.51
Announcement Date	2/27/20	4/26/21	4/15/22	4/19/23	4/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,972	1,934	2,301	2,739	3,175	3,780	4,641	5,609
EBITDA ¹	536.2	217.1	359.9	373.1	564.3	724.4	898.9	1,100
EBIT ¹	488.2	156.7	290.2	300.3	480.7	589.3	732.6	899
Operating Margin	24.75%	8.1%	12.61%	10.96%	15.14%	15.59%	15.79%	16.03%
Earnings before Tax (EBT) ¹	481.5	155.9	292.3	301.5	481.5	589.5	733.3	899.7
Net income ¹	420.3	111.3	266.8	270.5	408.7	504.6	630.2	776.5
Net margin	21.31%	5.76%	11.6%	9.87%	12.87%	13.35%	13.58%	13.84%
EPS ²	0.9800	0.2600	0.6300	0.6400	1.000	1.197	1.497	1.847
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.5000	0.4750	0.1000	0.1000	0.5000	0.1700	-	-
Announcement Date	2/27/20	4/26/21	4/15/22	4/19/23	4/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	11.8%	3.08%	7.44%	7.17%	9.98%	10.7%	11.9%	12.8%
ROA (Net income/ Total Assets)	8.75%	2.19%	4.97%	4.69%	-	5.9%	6.3%	6.9%
Assets ¹	4,803	5,089	5,370	5,769	-	8,553	10,003	11,253
Book Value Per Share ²	8.590	8.300	8.560	9.130	10.20	11.10	12.70	14.40
Cash Flow per Share ²	1.050	1.150	0.3000	0.7700	1.020	2.030	1.770	2.860
Capex ¹	154	176	247	156	285	186	190	182
Capex / Sales	7.83%	9.08%	10.75%	5.7%	8.98%	4.92%	4.09%	3.25%
Announcement Date	2/27/20	4/26/21	4/15/22	4/19/23	4/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

14.51 CNY

Average target price

16.82 CNY

Spread / Average Target

+15.92%

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