Financials Hangzhou Onechance Tech Crop.

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
17.2 ^CNY	+2.20%		+5.85%	-28.24%

Apr. 26	Hangzhou Onechance Tech Crop. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 19	Hangzhou Onechance Tech Crop. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	14,131	15,924	11,695	6,659	5,717	4,102	-	-
Enterprise Value (EV) ¹	14,131	15,924	11,695	6,659	5,717	4,102	4,102	4,102
P/E ratio	52.4 x	51.4 x	33.8 x	36.7 x	52.1 x	27.3 x	18 x	23.2 x
Yield	0.57%	0.5%	0.51%	0.54%	0.56%	1.28%	1.37%	1.45%
Capitalization / Revenue	9.74 x	12.3 x	10.3 x	4.33 x	4.44 x	2.74 x	2.27 x	2.36 x
EV / Revenue	9.74 x	12.3 x	10.3 x	4.33 x	4.44 x	2.74 x	2.27 x	2.36 x
EV / EBITDA	50.4 x	35.8 x	27.1 x	24.3 x	35.9 x	22.5 x	20.7 x	20.7 x
EV / FCF	-	-	-117,511,032 x	-31,854,364 x	-	-	-	-
FCF Yield	-	-	-0%	-0%	-	-	-	-
Price to Book	11.1 x	10.5 x	4.41 x	2.42 x	2.04 x	1.4 x	1.28 x	1.29 x
Nbr of stocks (in thousands)	216,000	216,375	238,675	238,675	238,499	238,499	-	-
Reference price ²	65.42	73.60	49.00	27.90	23.97	17.20	17.20	17.20
Announcement Date	2/28/20	4/27/21	4/26/22	4/26/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,451	1,299	1,135	1,539	1,288	1,497	1,804	1,735
EBITDA ¹	280.2	444.9	430.9	273.9	159.2	182.6	198.1	198.4
EBIT ¹	271.6	432.1	444.9	254.5	122.1	173.8	250.3	195.8
Operating Margin	18.72%	33.27%	39.2%	16.54%	9.48%	11.62%	13.87%	11.28%
Earnings before Tax (EBT) ¹	289.8	442.7	444	254.1	120.3	174.5	250.4	196.1
Net income ¹	219.1	310.1	326.8	180	107.9	150	228	176.1
Net margin	15.1%	23.88%	28.79%	11.7%	8.38%	10.02%	12.64%	10.15%
EPS ²	1.248	1.433	1.450	0.7600	0.4600	0.6300	0.9533	0.7400
Free Cash Flow	-	-	-99.52	-209	-	-	-	-
FCF margin	-	-	-8.77%	-13.59%	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.3703	0.3666	0.2500	0.1500	0.1350	0.2200	0.2350	0.2500
Announcement Date	2/28/20	4/27/21	4/26/22	4/26/23	4/19/24	-	-	-

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	-	-	-99.5	-209	-	-	-	-
ROE (net income / shareholders' equity)	33.2%	22.4%	16.3%	6.69%	3.89%	5.39%	6.6%	5.54%
ROA (Net income/ Total Assets)	22.8%	18%	-	-	-	5.1%	5.31%	5.28%
Assets ¹	962.4	1,718	-	-	-	2,941	4,298	3,336
Book Value Per Share ²	5.920	6.990	11.10	11.50	11.80	12.30	13.50	13.30
Cash Flow per Share ²	0.8400	2.030	0.1200	-0.1400	0.3600	1.480	0.7400	1.590
Capex ¹	87	91.4	128	174	78.2	55	53.9	49.5
Capex / Sales	6%	7.04%	11.29%	11.34%	6.07%	3.67%	2.99%	2.85%
Announcement Date	2/28/20	4/27/21	4/26/22	4/26/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

17.2 CNY

Average target price

18 CNY

Spread / Average Target

+4.65%

	1st Jan change	Capi.
HANGZHOU ONECHANCE TECH CROP.	-28.24%	566M
TENCENT HOLDINGS LIMITED	+18.39%	414B
NETFLIX, INC.	+15.27%	242B
AIRBNB, INC.	+20.63%	104B
PROSUS N.V.	+17.58%	83.87B
SPOTIFY TECHNOLOGY S.A.	+54.11%	57.64B
DOORDASH, INC.	+33.59%	53.37B
COSTAR GROUP, INC.	+6.02%	37.83B
NASPERS LIMITED	+15.88%	34.11B
PINTEREST, INC.	-8.32%	23.18B