Company Valuation: China Resources Pharmaceutical Group Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,303 39,705 32,229 35,810 27,957 26,983 - -
Change - 78.03% -18.83% 11.11% -21.93% -3.48% - -
Enterprise Value (EV) 1 61,337 73,426 71,468 90,725 90,801 76,218 69,512 57,204
Change - 19.71% -2.67% 26.95% 0.08% -16.06% -8.8% -17.71%
P/E 5.92x 9.58x 7.76x 10x 6.12x 5.51x 5.17x 4.93x
PBR 0.44x 0.8x 0.32x 0.34x 0.48x 0.42x 0.38x 0.34x
PEG - 1x 44.15x -0.7x 0.2x 0.76x 0.79x 1.01x
Capitalization / Revenue 0.09x 0.16x 0.12x 0.13x 0.09x 0.08x 0.08x 0.08x
EV / Revenue 0.26x 0.29x 0.27x 0.33x 0.3x 0.23x 0.2x 0.16x
EV / EBITDA 4.83x 4.38x 4.65x 5.47x 4.73x 3.8x 3.24x 2.76x
EV / EBIT 6.22x 5.39x 5.98x 6.98x 6.23x 4.73x 4x 3.26x
EV / FCF 5.88x 7.47x 5.49x 5.73x 4.37x -28x 9.47x 6.34x
FCF Yield 17% 13.4% 18.2% 17.5% 22.9% -3.57% 10.6% 15.8%
Dividend per Share 2 0.15 0.16 0.1669 0.1445 0.2203 0.2035 0.2202 0.218
Rate of return 4.23% 2.53% 3.25% 2.54% 4.95% 4.74% 5.13% 5.08%
EPS 2 0.6 0.66 0.6612 0.5677 0.7268 0.7792 0.83 0.8706
Distribution rate 25% 24.2% 25.2% 25.5% 30.3% 26.1% 26.5% 25%
Net sales 1 236,806 254,106 265,229 275,999 306,131 327,766 340,287 351,655
EBITDA 1 12,690 16,775 15,382 16,601 19,202 20,083 21,457 20,701
EBIT 1 9,868 13,623 11,952 13,005 14,567 16,129 17,398 17,536
Net income 1 3,769 4,147 4,178 3,589 4,594 4,817 5,171 5,365
Net Debt 1 39,035 33,720 39,238 54,915 62,844 49,235 42,528 30,221
Reference price 2 3.550 6.320 5.130 5.700 4.450 4.295 4.295 4.295
Nbr of stocks (in thousands) 6,282,510 6,282,510 6,282,510 6,282,510 6,282,510 6,282,510 - -
Announcement Date 29/03/22 30/03/23 26/03/24 26/03/25 24/03/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
5.51x0.23x3.8x4.74% 3.44B
33.65x12.19x24.78x0.59% 1,055B
30.17x6.71x18.78x1.98% 654B
33.43x7.82x16.17x2.59% 467B
19.59x4.78x11.84x2.78% 348B
20.4x5.31x13.17x3.01% 275B
21.19x4.39x12.5x2.01% 258B
26.19x6.82x12.15x2.43% 224B
-45.65x6.64x25.94x2.18% 187B
11.33x4.13x8.58x4.44% 171B
Average 15.58x 5.90x 14.77x 2.67% 364.18B
Weighted average by Cap. 24.16x 7.86x 18.12x 1.97%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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