Financials Shanghai Wanye Enterprises 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
12.42 ^CNY	+4.81%		+5.17%	-28.04%

Apr. 26	Shanghai Wanye Enterprises Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 02	Tranche Update on Shanghai Wanye Enterprises Co.,Ltd's Equity Buyback Plan announced on February 19, 2024.	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	7,320	14,322	18,367	30,297	16,500	11,558	11,558	-
Enterprise Value (EV) ¹	7,320	14,322	18,367	30,297	16,500	16,063	11,558	11,558
P/E ratio	7.51 x	25.2 x	58.3 x	80.5 x	38.9 x	106 x	40.7 x	31 x
Yield	-	-	0.52%	0.37%	0.77%	0.29%	0.67%	0.89%
Capitalization / Revenue	2.73 x	7.66 x	-	34.4 x	14.3 x	16.7 x	7.39 x	5.88 x
EV / Revenue	2.73 x	7.66 x	-	34.4 x	14.3 x	16.7 x	7.39 x	5.88 x
EV / EBITDA	-	-	-	58.1 x	30.3 x	74.5 x	62.6 x	46.2 x
EV / FCF	-	-	-	93.2 x	-19.5 x	-17.2 x	-43 x	-64.9 x
FCF Yield	-	-	-	1.07%	-5.12%	-5.8%	-2.33%	-1.54%
Price to Book	-	2.42 x	-	4.19 x	2.04 x	1.92 x	1.32 x	1.27 x
Nbr of stocks (in thousands)	967,394	914,182	910,630	910,630	930,630	930,630	930,630	-
Reference price ²	7.567	15.67	20.17	33.27	17.73	12.42	12.42	12.42
Announcement Date	4/17/19	4/25/20	4/16/21	4/29/22	4/28/23	4/27/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	2,679	1,869	-	879.9	1,158	964.6	1,563	1,967
EBITDA ¹	-	-	-	521.1	544.8	215.6	184.5	249.9
EBIT ¹	-	736.6	-	494.9	511.1	178.1	415	569
Operating Margin	-	39.41%	-	56.25%	44.15%	18.46%	26.55%	28.93%
Earnings before Tax (EBT) ¹	-	780.6	-	497	513.8	169.2	311.6	421
Net income ¹	-	572.8	315.3	376.5	423.6	151.1	284	372.7
Net margin	-	30.65%	-	42.79%	36.59%	15.67%	18.17%	18.95%
EPS ²	1.008	0.6229	0.3462	0.4135	0.4552	0.1624	0.3050	0.4009
Free Cash Flow ¹	-	-	-	325.2	-845.2	-932.4	-269	-178
FCF margin	-	-	-	36.96%	-73.01%	-96.66%	-17.21%	-9.05%
FCF Conversion (EBITDA)	-	-	-	62.41%	-	-	-	-
FCF Conversion (Net income)	-	-	-	86.38%	-	-	-	-
Dividend per Share ²	-	-	0.1050	0.1220	0.1370	0.0500	0.0832	0.1108
Announcement Date	4/17/19	4/25/20	4/16/21	4/29/22	4/28/23	4/27/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	325	-845	-932	-269	-178
ROE (net income / shareholders' equity)	-	9.37%	4.88%	5.34%	5.29%	1.8%	3.21%	4.16%
ROA (Net income/ Total Assets)	-	-	-	4.46%	4.48%	1.5%	1.5%	2%
Assets ¹	-	-	-	8,440	9,464	9,986	18,933	18,637
Book Value Per Share ²	-	6.480	-	7.950	8.680	8.990	9.390	9.760
Cash Flow per Share ²	-	0.1200	-	0.3700	-0.7000	-0.2600	-0.0400	0.0100
Capex ¹	-	24.4	-	108	175	692	127	130
Capex / Sales	-	1.31%	-	12.28%	15.08%	71.73%	8.13%	6.61%
Announcement Date	4/17/19	4/25/20	4/16/21	4/29/22	4/28/23	4/27/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12.42 CNY

Average target price

14.66 CNY

Spread / Average Target

+18.08%

	1st Jan change	Capi.
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