Financials Sinocare Inc.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 23:00:00 29/04/2024 BST			5-day change	1st Jan Change
23.89 ^CNY	-0.95%		+11.17%	-21.41%

04-26	Sinocare Inc. Proposes Final Dividend for 2023	CI
04-25	Sinocare Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,425	20,027	16,800	18,795	16,906	13,231	-	-
Enterprise Value (EV) ¹	8,425	20,027	16,800	18,795	16,906	13,231	13,231	13,231
P/E ratio	33.7 x	107 x	156 x	43.7 x	59.5 x	31.9 x	22.5 x	-
Yield	2%	-	-	0.59%	0.66%	0.84%	1.09%	-
Capitalization / Revenue	4.74 x	9.94 x	7.11 x	6.68 x	4.17 x	2.86 x	2.37 x	2.26 x
EV / Revenue	4.74 x	9.94 x	7.11 x	6.68 x	4.17 x	2.86 x	2.37 x	2.26 x
EV / EBITDA	24.5 x	62.3 x	41.8 x	32.4 x	35.9 x	18.5 x	14.8 x	14 x
EV / FCF	-	-	-	115 x	43.2 x	39.4 x	27.7 x	18.5 x
FCF Yield	-	-	-	0.87%	2.32%	2.54%	3.61%	5.41%
Price to Book	3.2 x	7.76 x	6.35 x	6.35 x	5.81 x	3.91 x	3.24 x	2.96 x
Nbr of stocks (in thousands)	562,014	559,413	561,673	557,223	556,128	553,845	-	-
Reference price ²	14.99	35.80	29.91	33.73	30.40	23.89	23.89	23.89
Announcement Date	14/02/20	16/04/21	21/04/22	06/04/23	25/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,778	2,015	2,361	2,814	4,059	4,631	5,581	5,865
EBITDA ¹	343.3	321.4	402.1	580.5	471.5	716.3	895.4	941.9
EBIT ¹	274.2	236.2	139.3	470.2	275	415.8	699.1	710.3
Operating Margin	15.42%	11.72%	5.9%	16.71%	6.78%	8.98%	12.53%	12.11%
Earnings before Tax (EBT) ¹	301.5	247.8	138.2	470	248.6	402.6	697.2	683.8
Net income ¹	250.7	186.9	107.6	430.9	284.4	421.2	599.4	627.3
Net margin	14.1%	9.27%	4.56%	15.31%	7.01%	9.1%	10.74%	10.7%
EPS ²	0.4445	0.3341	0.1916	0.7719	0.5107	0.7500	1.062	-
Free Cash Flow ¹	-	-	-	163.5	391.6	336.1	477.6	716.2
FCF margin	-	-	-	5.81%	9.65%	7.26%	8.56%	12.21%
FCF Conversion (EBITDA)	-	-	-	28.17%	83.05%	46.92%	53.34%	76.04%
FCF Conversion (Net income)	-	-	-	37.96%	137.7%	79.78%	79.69%	114.17%
Dividend per Share ²	0.3000	-	-	0.2000	0.2000	0.2000	0.2600	-
Announcement Date	14/02/20	16/04/21	21/04/22	06/04/23	25/04/24	-	-	-

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 ¹	-	-	-	164	392	336	478	716
ROE (net income / shareholders' equity)	9.5%	7.12%	3.87%	14.7%	9.24%	12.9%	14.8%	14.7%
ROA (Net income/ Total Assets)	-	-	-	9.83%	-	7%	9.03%	-
Assets ¹	-	-	-	4,385	-	6,017	6,635	-
Book Value Per Share ²	4.690	4.620	4.710	5.310	5.240	6.110	7.370	8.070
Cash Flow per Share ²	0.9200	0.8900	0.8500	0.8400	1.300	1.040	1.140	-
Capex ¹	422	276	404	311	344	306	312	207
Capex / Sales	23.73%	13.67%	17.1%	11.05%	8.46%	6.61%	5.59%	3.52%
Announcement Date	14/02/20	16/04/21	21/04/22	06/04/23	25/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

23.89 CNY

Average target price

31.01 CNY

Spread / Average Target

+29.82%

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