Financials Sino Biopharmaceutical Limited

Equities

1177

KYG8167W1380

Pharmaceuticals

Market Closed - Hong Kong S.E. 04:08:20 2024-04-26 am EDT 5-day change 1st Jan Change
2.77 HKD +1.09% Intraday chart for Sino Biopharmaceutical Limited +18.38% -20.17%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 57,041 122,159 118,610 83,443 74,593 47,018 47,018 -
Enterprise Value (EV) 1 57,041 122,159 117,344 80,336 72,678 58,030 42,733 39,847
P/E ratio 6.19 x 45.1 x 42.8 x 6.07 x 33.2 x 25.1 x 16.7 x 14.6 x
Yield 1.51% 0.75% 1.06% 1.46% 2.6% 2.25% 2.14% 2.47%
Capitalization / Revenue 2.73 x 5.04 x 5.02 x 3.11 x 2.59 x 2.21 x 1.62 x 1.44 x
EV / Revenue 2.73 x 5.04 x 4.96 x 2.99 x 2.53 x 2.21 x 1.47 x 1.22 x
EV / EBITDA 10.8 x 19.1 x 20.4 x 15.5 x 10.5 x 8.96 x 5.69 x 4.77 x
EV / FCF 16.8 x 38.4 x 31.3 x 21.1 x 16.1 x 9.48 x 8.33 x 8.34 x
FCF Yield 5.96% 2.61% 3.19% 4.74% 6.2% 10.5% 12% 12%
Price to Book 1.96 x 3.94 x 7.09 x 2.76 x 2.51 x 1.95 x 1.39 x 1.28 x
Nbr of stocks (in thousands) 18,883,802 18,810,956 18,789,999 18,756,114 18,481,249 18,337,124 18,337,124 -
Reference price 2 3.021 6.494 6.312 4.449 4.036 2.564 2.564 2.564
Announcement Date 3/31/19 3/30/20 3/23/21 3/31/22 3/31/23 3/28/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 20,889 24,234 23,647 26,861 28,780 26,199 29,108 32,747
EBITDA 1 5,289 6,399 5,753 5,174 6,908 6,476 7,512 8,346
EBIT 1 4,079 4,840 4,098 4,182 5,861 5,439 6,262 6,968
Operating Margin 19.53% 19.97% 17.33% 15.57% 20.37% 20.76% 21.51% 21.28%
Earnings before Tax (EBT) 1 11,429 5,584 5,013 18,573 5,779 5,215 6,321 7,011
Net income 1 9,046 2,707 2,771 14,608 2,544 2,332 2,828 3,235
Net margin 43.31% 11.17% 11.72% 54.38% 8.84% 8.9% 9.71% 9.88%
EPS 2 0.4877 0.1439 0.1474 0.7326 0.1215 0.1259 0.1540 0.1754
Free Cash Flow 1 3,402 3,184 3,743 3,805 4,505 4,700 5,129 4,780
FCF margin 16.28% 13.14% 15.83% 14.17% 15.65% 15.54% 17.62% 14.6%
FCF Conversion (EBITDA) 64.31% 49.76% 65.06% 73.54% 65.21% 65.78% 68.28% 57.28%
FCF Conversion (Net income) 37.6% 117.63% 135.08% 26.05% 177.12% 158.81% 181.39% 147.76%
Dividend per Share 2 0.0456 0.0488 0.0671 0.0648 0.1050 0.0577 0.0549 0.0632
Announcement Date 3/31/19 3/30/20 3/23/21 3/31/22 3/31/23 3/28/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S1 2020 S1 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 12,527 12,648 7,243 7,111 6,254 6,254 - - 15,194 13,587 15,277 10,922 15,317 13,484 15,910 15,635
EBITDA - - - - - - - - - - - - - - - -
EBIT - 2,417 1,242 1,889 525.1 525.1 - - 3,252 2,700 3,219 2,220 3,369 2,791 3,721 3,070
Operating Margin - 19.11% 17.15% 26.56% 8.4% 8.4% - - 21.4% 19.87% 21.07% 20.33% 22% 20.7% 23.39% 19.63%
Earnings before Tax (EBT) - - - - - - - - - - 3,224 1,991 - - - -
Net income - - - - - - - - - - 1,259 1,073 - - - -
Net margin - - - - - - - - - - 8.24% 9.83% - - - -
EPS 1 - - 0.0928 0.3410 0.1500 0.1500 0.0500 0.0500 0.0920 0.0295 0.0678 0.0581 0.0800 0.0600 0.0900 0.0900
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 8/28/19 8/28/20 5/24/21 8/31/21 9/26/22 3/31/22 9/26/22 8/23/22 8/23/22 3/31/23 8/25/23 3/28/24 - - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - - - - - -
Net Cash position 1 - - 1,266 3,107 1,915 2,449 4,286 7,172
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 3,402 3,184 3,743 3,805 4,505 4,700 5,129 4,780
ROE (net income / shareholders' equity) 14.8% 8.97% 17.5% 62.1% 8.47% 7.75% 8.36% 9.04%
ROA (Net income/ Total Assets) 8.04% 5.01% 6.54% 27.1% 4.08% 3.65% 5.26% 5.4%
Assets 1 112,574 54,040 42,371 53,877 62,304 63,836 53,775 59,950
Book Value Per Share 2 1.540 1.650 0.8900 1.610 1.610 1.620 1.840 2.000
Cash Flow per Share 2 0.2700 0.2800 0.2800 0.2900 0.3300 0.3400 0.3500 0.3900
Capex 1 1,693 2,141 1,582 1,561 1,760 1,575 1,357 1,388
Capex / Sales 8.1% 8.83% 6.69% 5.81% 6.12% 5.21% 4.66% 4.24%
Announcement Date 3/31/19 3/30/20 3/23/21 3/31/22 3/31/23 3/28/24 - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
26
Last Close Price
2.564 CNY
Average target price
4.32 CNY
Spread / Average Target
+68.49%
Consensus
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