Financials Shanghai Bolex Food Technology Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 23:00:00 30/05/2024 BST			5-day change	1st Jan Change
13.62 ^CNY	-1.73%		-3.75%	-19.46%

04-25	Shanghai Bolex Food Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-25	Shanghai Bolex Food Technology Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	11,332	6,764	5,448	-	-
Enterprise Value (EV) ¹	11,332	6,764	5,448	5,448	5,448
P/E ratio	49.7 x	22.5 x	19.1 x	15.3 x	14 x
Yield	-	2.22%	-	0.99%	-
Capitalization / Revenue	5.56 x	2.86 x	1.99 x	1.69 x	1.49 x
EV / Revenue	5.56 x	2.86 x	1.99 x	1.69 x	1.49 x
EV / EBITDA	-	14.9 x	12.2 x	10.6 x	9.33 x
EV / FCF	-	-	-	-	-
FCF Yield	-	-	-	-	-
Price to Book	10 x	5 x	3.5 x	2.93 x	2.58 x
Nbr of stocks (in thousands)	400,010	400,010	400,010	-	-
Reference price ²	28.33	16.91	13.62	13.62	13.62
Announcement Date	10/04/23	25/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	2,037	2,369	2,744	3,233	3,656
EBITDA ¹	-	-	453.4	445.4	512.9	583.8
EBIT ¹	-	294.5	411.1	379.7	473.3	514.8
Operating Margin	-	14.46%	17.35%	13.84%	14.64%	14.08%
Earnings before Tax (EBT) ¹	-	295.3	409.5	378.2	474	515.3
Net income ¹	185.4	215.4	301	285.3	356.6	390.7
Net margin	-	10.57%	12.71%	10.4%	11.03%	10.69%
EPS ²	0.5200	0.5700	0.7500	0.7120	0.8925	0.9760
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	-	0.3750	-	0.1350	-
Announcement Date	27/06/22	10/04/23	25/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	24.4%	24.6%	18.6%	19%	18.7%
ROA (Net income/ Total Assets)	-	9.57%	-	12.3%	13%	14%
Assets ¹	-	2,250	-	2,320	2,743	2,791
Book Value Per Share ²	-	2.820	3.380	3.890	4.650	5.270
Cash Flow per Share ²	-	0.6300	0.4200	0.8300	0.8000	1.000
Capex ¹	-	70.3	76.3	236	162	151
Capex / Sales	-	3.45%	3.22%	8.59%	5.02%	4.13%
Announcement Date	27/06/22	10/04/23	25/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.62 CNY

Average target price

26.2 CNY

Spread / Average Target

+92.36%

	1st Jan change	Capi.
SHANGHAI BOLEX FOOD TECHNOLOGY CO., LTD.	-19.46%	752M
FOSHAN HAITIAN FLAVOURING AND FOOD COMPANY LTD.	-5.67%	27.45B
INTERNATIONAL FLAVORS & FRAGRANCES INC.	+18.78%	24.56B
KIKKOMAN CORPORATION	+5.34%	11.01B
LANCASTER COLONY CORPORATION	+11.49%	5.11B
MEIHUA HOLDINGS GROUP CO.,LTD	+14.97%	4.33B
ANGEL YEAST CO., LTD	-13.08%	3.62B
JONJEE HI-TECH INDUSTRIAL AND COMMERCIAL HOLDING CO.,LTD	-5.98%	2.8B
KEWPIE CORPORATION	+25.30%	2.75B
QIANHE CONDIMENT AND FOOD CO., LTD.	-5.32%	2.17B