Financials Jiajiayue Group Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
10.34 ^CNY	-0.29%		+3.19%	-20.89%

Apr. 19	Jiajiayue Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 02	Tranche Update on Jiajiayue Group Co., Ltd.'s Equity Buyback Plan announced on February 6, 2024.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	14,808	12,959	9,974	7,546	8,343	6,532	-	-
Enterprise Value (EV) ¹	14,808	12,959	9,974	7,546	8,343	6,532	6,532	6,532
P/E ratio	32.5 x	30 x	-34 x	96.8 x	52.3 x	27.7 x	18.2 x	19.8 x
Yield	2.05%	2.11%	2.7%	0.79%	1.45%	1.91%	2.1%	2.27%
Capitalization / Revenue	0.97 x	0.78 x	0.57 x	0.42 x	0.47 x	0.35 x	0.32 x	0.32 x
EV / Revenue	0.97 x	0.78 x	0.57 x	0.42 x	0.47 x	0.35 x	0.32 x	0.32 x
EV / EBITDA	18 x	13.2 x	41 x	10.7 x	10.3 x	5.99 x	5.06 x	4.63 x
EV / FCF	-164 x	-133 x	17.4 x	-	8.26 x	-27.1 x	20 x	-8.2 x
FCF Yield	-0.61%	-0.75%	5.75%	-	12.1%	-3.69%	4.99%	-12.2%
Price to Book	5.08 x	4.42 x	4.9 x	3.91 x	3.46 x	2.51 x	2.35 x	2.24 x
Nbr of stocks (in thousands)	608,400	608,400	599,401	599,402	638,337	631,718	-	-
Reference price ²	24.34	21.30	16.64	12.59	13.07	10.34	10.34	10.34
Announcement Date	4/20/20	4/29/21	4/29/22	4/27/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	15,264	16,678	17,433	18,184	17,763	18,713	20,284	20,468
EBITDA ¹	822.4	980.3	243.1	706.5	807.3	1,091	1,292	1,410
EBIT ¹	606.9	585.1	-267.2	132.4	227	283.7	471.1	442.9
Operating Margin	3.98%	3.51%	-1.53%	0.73%	1.28%	1.52%	2.32%	2.16%
Earnings before Tax (EBT) ¹	606.2	583.2	-262.2	97.19	211.5	273.2	458.7	429.9
Net income ¹	457.5	427.6	-293.4	54.05	136.4	208.8	333.5	333.1
Net margin	3%	2.56%	-1.68%	0.3%	0.77%	1.12%	1.64%	1.63%
EPS ²	0.7500	0.7100	-0.4900	0.1300	0.2500	0.3733	0.5683	0.5225
Free Cash Flow ¹	-90.41	-97.47	573.5	-	1,010	-241	326	-797
FCF margin	-0.59%	-0.58%	3.29%	-	5.68%	-1.29%	1.61%	-3.89%
FCF Conversion (EBITDA)	-	-	235.88%	-	125.06%	-	25.23%	-
FCF Conversion (Net income)	-	-	-	-	740.25%	-	97.75%	-
Dividend per Share ²	0.5000	0.4500	0.4500	0.1000	0.1900	0.1975	0.2175	0.2350
Announcement Date	4/20/20	4/29/21	4/29/22	4/27/23	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 ¹	-90.4	-97.5	574	-	1,010	-241	326	-797
ROE (net income / shareholders' equity)	16.4%	14.3%	-11.9%	2.5%	5.68%	7.38%	11.2%	9.93%
ROA (Net income/ Total Assets)	5.84%	4.67%	-2.39%	-	-	2.5%	2.85%	-
Assets ¹	7,831	9,153	12,250	-	-	8,353	11,701	-
Book Value Per Share ²	4.800	4.820	3.400	3.220	3.780	4.110	4.400	4.620
Cash Flow per Share ²	1.110	1.200	2.340	2.200	2.490	1.480	2.990	0.9300
Capex ¹	763	825	848	720	604	447	448	403
Capex / Sales	5%	4.95%	4.87%	3.96%	3.4%	2.39%	2.21%	1.97%
Announcement Date	4/20/20	4/29/21	4/29/22	4/27/23	4/19/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.34 CNY

Average target price

14.57 CNY

Spread / Average Target

+40.91%

	1st Jan change	Capi.
JIAJIAYUE GROUP CO., LTD.	-20.89%	901M
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SEVEN & I HOLDINGS CO., LTD.	+9.36%	33.86B
SM INVESTMENTS CORPORATION	+9.52%	20.2B
COLES GROUP LIMITED	+1.92%	14.29B
JERÓNIMO MARTINS, SGPS, S.A.	-17.40%	12.77B
CASEY'S GENERAL STORES, INC.	+16.48%	11.85B
ICA GRUPPEN	-.--%	11.82B
CARREFOUR	-3.89%	11.75B