Financials Sailun Group Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
15.81 ^CNY	-4.18%		-8.19%	+34.55%

Apr. 29	Sailun Jinyu Group's Q1 Profit Surges 191%	MT
Apr. 29	Sailun Jinyu Group's 2023 Profit Surges 132%; Shares Fall 4%	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	11,668	15,491	43,316	29,346	35,078	49,855	-
Enterprise Value (EV) ¹	11,668	15,491	43,316	29,346	35,078	49,855	49,855
P/E ratio	9.72 x	10.1 x	32.9 x	23.3 x	12 x	13.8 x	12.1 x
Yield	2.24%	2.48%	1.01%	1.5%	1.45%	2%	2.17%
Capitalization / Revenue	0.77 x	1.01 x	2.41 x	1.34 x	1.35 x	1.6 x	1.41 x
EV / Revenue	0.77 x	1.01 x	2.41 x	1.34 x	1.35 x	1.6 x	1.41 x
EV / EBITDA	5.52 x	6.14 x	18.8 x	10.7 x	7.1 x	7.24 x	7.24 x
EV / FCF	-	-	-24,820,789 x	-	-	-	-
FCF Yield	-	-	-0%	-	-	-	-
Price to Book	1.71 x	1.93 x	4.01 x	2.54 x	2.49 x	2.8 x	2.38 x
Nbr of stocks (in thousands)	2,610,261	2,564,753	2,928,758	2,928,758	2,985,324	3,153,373	-
Reference price ²	4.470	6.040	14.79	10.02	11.75	15.81	15.81
Announcement Date	4/30/20	4/26/21	4/1/22	4/28/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	15,128	15,405	17,998	21,902	25,978	31,171	35,471
EBITDA ¹	2,115	2,524	2,308	2,743	4,941	6,888	6,889
EBIT ¹	1,335	1,754	1,349	1,598	3,517	4,028	4,592
Operating Margin	8.83%	11.38%	7.49%	7.29%	13.54%	12.92%	12.95%
Earnings before Tax (EBT) ¹	1,322	1,721	1,381	1,563	3,442	4,881	4,559
Net income ¹	1,195	1,491	1,313	1,332	3,091	3,617	4,138
Net margin	7.9%	9.68%	7.29%	6.08%	11.9%	11.61%	11.67%
EPS ²	0.4600	0.6000	0.4500	0.4300	0.9800	1.144	1.309
Free Cash Flow	-	-	-1,745	-	-	-	-
FCF margin	-	-	-9.7%	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	0.1000	0.1500	0.1500	0.1500	0.1700	0.3167	0.3433
Announcement Date	4/30/20	4/26/21	4/1/22	4/28/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-1,745	-	-	-	-
ROE (net income / shareholders' equity)	17.3%	19.4%	13.7%	11.8%	23.4%	20.4%	19.5%
ROA (Net income/ Total Assets)	7.21%	7.66%	5.55%	4.77%	-	11.5%	10.1%
Assets ¹	16,584	19,466	23,674	27,903	-	31,456	41,050
Book Value Per Share ²	2.620	3.130	3.690	3.950	4.720	5.640	6.640
Cash Flow per Share ²	0.7400	1.270	0.2900	0.7200	1.700	1.790	1.940
Capex ¹	1,206	1,535	2,582	3,594	2,011	3,247	3,377
Capex / Sales	7.97%	9.96%	14.34%	16.41%	7.74%	10.42%	9.52%
Announcement Date	4/30/20	4/26/21	4/1/22	4/28/23	4/26/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

15.81 CNY

Average target price

17.93 CNY

Spread / Average Target

+13.43%

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