Company Valuation: Aisino Co.Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Capitalization 1 23,346 24,810 19,289 19,715 16,880 21,660
Change - 6.27% -22.26% 2.21% -14.38% 28.32%
Enterprise Value (EV) 1 14,126 16,722 10,911 11,988 9,795 15,194
Change - 18.37% -34.75% 9.87% -18.29% 55.11%
P/E ratio 22.6x 24.2x 17.9x 96.7x 911x -29.2x
PBR 1.86x 1.86x 1.36x 1.4x 1.21x 1.63x
PEG - -39.61x 3.38x -1.2x -10x 0x
Capitalization / Revenue 1.07x 1.06x 1x 1.57x 2.03x 3.9x
EV / Revenue 0.65x 0.71x 0.56x 0.95x 1.18x 2.74x
EV / EBITDA 5.17x 4.81x 4.47x 14.3x 2,463x -22.7x
EV / EBIT 5.64x 5.17x 5.03x 19.9x -24.9x -14.1x
EV / FCF 14x 44.7x 12.2x 31.4x -30.3x -91.9x
FCF Yield 7.15% 2.24% 8.22% 3.18% -3.3% -1.09%
Dividend per Share 2 0.168 0.166 0.175 0.033 0.004 -
Rate of return 1.33% 1.24% 1.68% 0.31% 0.04% -
EPS 2 0.5564 0.553 0.5823 0.11 0.01 -0.4
Distribution rate 30.2% 30% 30.1% 30% 40% -
Net sales 1 21,813 23,516 19,314 12,575 8,309 5,554
EBITDA 1 2,730 3,480 2,439 839.9 3.977 -668.3
EBIT 1 2,506 3,237 2,168 602.8 -394 -1,081
Net income 1 1,034 1,025 1,079 202.7 15.95 -745.5
Net Debt 1 -9,220 -8,088 -8,378 -7,727 -7,084 -6,467
Reference price 2 12.600 13.390 10.410 10.640 9.110 11.690
Nbr of stocks (in thousands) 1,852,849 1,852,885 1,852,885 1,852,885 1,852,885 1,852,885
Announcement Date 30/03/21 30/03/22 30/03/23 15/04/24 15/04/25 17/04/26
1CNY in Million2CNY
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 2B
14.95x0.94x10.05x1.92% 17B
32.22x0.87x20.47x0.32% 11.77B
-1.87x3.39x23.46x-.--% 7.98B
52.25x5.61x35.65x1.36% 3.29B
18.08x0.84x6.28x - 2.81B
Average 23.13x 2.33x 19.18x 0.9% 7.47B
Weighted average by Cap. 19.63x 1.73x 17.13x 1.02%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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