Financials Beijing Shunxin Agriculture Co.,Ltd

Equities

End-of-day quote Shenzhen S.E. Other stock markets 23:00:00 09/05/2024 BST			5-day change	1st Jan Change
18.94 ^CNY	-0.37%		+1.23%	-11.04%

04-26	Beijing Shunxin Agriculture Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
01-15	Beijing Shunxin Agriculture to Raise Prices on Some Wine Products	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	39,076	53,808	28,321	22,119	15,792	14,049	-	-
Enterprise Value (EV) ¹	39,076	53,808	28,321	22,119	15,792	14,049	14,049	14,049
P/E ratio	48.3 x	128 x	277 x	-32.9 x	-53.4 x	26.1 x	17.3 x	15.6 x
Yield	0.28%	0.14%	0.07%	-	-	-	0.48%	1.06%
Capitalization / Revenue	2.62 x	3.47 x	1.9 x	1.89 x	1.49 x	1.28 x	1.09 x	1.07 x
EV / Revenue	2.62 x	3.47 x	1.9 x	1.89 x	1.49 x	1.28 x	1.09 x	1.07 x
EV / EBITDA	27.2 x	55.5 x	27.5 x	-358 x	37.6 x	11.6 x	8.84 x	8.31 x
EV / FCF	-	-	-60,439,342 x	16,946,977 x	-	-	-	-
FCF Yield	-	-	-0%	0%	-	-	-	-
Price to Book	5.26 x	6.95 x	3.65 x	3.13 x	2.33 x	1.92 x	1.69 x	1.6 x
Nbr of stocks (in thousands)	741,767	741,767	741,767	741,767	741,767	741,767	-	-
Reference price ²	52.68	72.54	38.18	29.82	21.29	18.94	18.94	18.94
Announcement Date	25/04/20	13/04/21	14/04/22	24/03/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	14,900	15,511	14,869	11,678	10,593	10,969	12,890	13,173
EBITDA ¹	1,435	969.4	1,029	-61.79	420	1,216	1,589	1,690
EBIT ¹	1,186	715.4	563.2	-373.9	74.91	853.5	1,216	1,327
Operating Margin	7.96%	4.61%	3.79%	-3.2%	0.71%	7.78%	9.43%	10.07%
Earnings before Tax (EBT) ¹	1,185	701.1	561.7	-377.3	72.6	834.1	1,210	1,322
Net income ¹	809.2	420	102.3	-673.2	-295.6	540.3	812.2	902.6
Net margin	5.43%	2.71%	0.69%	-5.76%	-2.79%	4.93%	6.3%	6.85%
EPS ²	1.091	0.5662	0.1379	-0.9076	-0.3985	0.7267	1.095	1.217
Free Cash Flow	-	-	-468.6	1,305	-	-	-	-
FCF margin	-	-	-3.15%	11.18%	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1500	0.1000	0.0250	-	-	-	0.0900	0.2000
Announcement Date	25/04/20	13/04/21	14/04/22	24/03/23	26/04/24	-	-	-

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	-	-	-469	1,305	-	-	-	-
ROE (net income / shareholders' equity)	11.5%	5.54%	1.32%	-9.07%	-4.27%	7.72%	9.67%	9.93%
ROA (Net income/ Total Assets)	3.87%	1.92%	0.5%	-	-	4.1%	5.3%	6.6%
Assets ¹	20,937	21,853	20,533	-	-	13,177	15,325	13,676
Book Value Per Share ²	10.00	10.40	10.50	9.540	9.140	9.850	11.20	11.80
Cash Flow per Share ²	1.760	2.080	-0.4700	1.950	-1.000	-0.1400	1.680	0.9700
Capex ¹	127	163	120	144	153	219	181	300
Capex / Sales	0.85%	1.05%	0.81%	1.24%	1.45%	2%	1.41%	2.27%
Announcement Date	25/04/20	13/04/21	14/04/22	24/03/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

18.94 CNY

Average target price

26.22 CNY

Spread / Average Target

+38.44%

	1st Jan change	Capi.
BEIJING SHUNXIN AGRICULTURE CO.,LTD	-11.04%	1.94B
KWEICHOW MOUTAI CO., LTD.	+0.75%	302B
WULIANGYE YIBIN CO.,LTD.	+10.06%	82.96B
SHANXI XINGHUACUN FEN WINE FACTORY CO.,LTD.	+17.16%	45.64B
LUZHOU LAOJIAO CO.,LTD	+4.19%	38.08B
JIANGSU YANGHE BREWERY JOINT-STOCK CO., LTD.	-12.14%	20.13B
ANHUI GUJING DISTILLERY CO., LTD.	+18.26%	17.54B
DAVIDE CAMPARI-MILANO N.V.	-3.85%	12.71B
UNITED SPIRITS LIMITED	+6.89%	10.22B
JIANGSU KING'S LUCK BREWERY JOINT-STOCK CO.,LTD.	+16.68%	9.81B