Financials Zhefu Holding Group Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
3.35 ^CNY	+0.30%		+0.60%	-1.47%

Apr. 26	Zhefu Holding Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Mar. 31	Tranche Update on Zhefu Holding Group Co., Ltd.'s Equity Buyback Plan announced on February 3, 2024.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,152	24,164	38,168	20,898	17,746	17,373	-	-
Enterprise Value (EV) ¹	8,152	24,164	38,168	20,898	17,746	17,373	17,373	17,373
P/E ratio	51.5 x	15 x	16.6 x	14.5 x	17.9 x	11.6 x	10.5 x	9.31 x
Yield	-	-	1.12%	1.53%	-	-	-	-
Capitalization / Revenue	-	2.9 x	2.7 x	1.25 x	0.94 x	0.79 x	0.71 x	0.65 x
EV / Revenue	-	2.9 x	2.7 x	1.25 x	0.94 x	0.79 x	0.71 x	0.65 x
EV / EBITDA	-	-	13.2 x	10.5 x	11.6 x	8.6 x	7.72 x	7.18 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	3.15 x	3.95 x	1.89 x	1.63 x	1.44 x	1.3 x	1.18 x
Nbr of stocks (in thousands)	1,978,720	5,369,796	5,360,711	5,344,876	5,219,271	5,185,857	-	-
Reference price ²	4.120	4.500	7.120	3.910	3.400	3.350	3.350	3.350
Announcement Date	4/29/20	3/17/21	4/29/22	4/28/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	8,343	14,135	16,780	18,951	22,045	24,396	26,847
EBITDA ¹	-	-	2,899	1,999	1,529	2,019	2,250	2,418
EBIT ¹	-	1,857	2,513	1,531	1,002	1,453	1,644	1,807
Operating Margin	-	22.25%	17.78%	9.12%	5.28%	6.59%	6.74%	6.73%
Earnings before Tax (EBT) ¹	-	1,847	2,497	1,523	977.2	1,429	1,619	1,783
Net income ¹	161.3	1,362	2,312	1,467	1,026	1,499	1,699	1,871
Net margin	-	16.32%	16.36%	8.74%	5.41%	6.8%	6.96%	6.97%
EPS ²	0.0800	0.3000	0.4300	0.2700	0.1900	0.2900	0.3200	0.3600
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	0.0800	0.0600	-	-	-	-
Announcement Date	4/29/20	3/17/21	4/29/22	4/28/23	4/26/24	-	-	-

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	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	17.9%	26.6%	14.5%	9.54%	13%	13.2%	13.2%
ROA (Net income/ Total Assets)	-	7.66%	11.7%	6.46%	-	-	-	-
Assets ¹	-	17,771	19,749	22,701	-	-	-	-
Book Value Per Share ²	-	1.430	1.800	2.070	2.090	2.320	2.570	2.850
Cash Flow per Share ²	-	-0.0200	-0.0100	0.0800	0.2400	0.3600	0.4000	0.4400
Capex ¹	-	1,396	1,038	639	526	480	374	126
Capex / Sales	-	16.73%	7.35%	3.81%	2.77%	2.18%	1.53%	0.47%
Announcement Date	4/29/20	3/17/21	4/29/22	4/28/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.35 CNY

Average target price

3.86 CNY

Spread / Average Target

+15.22%

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