Company Valuation: Songcheng Performance Development Co.,Ltd

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 37,442 38,175 25,860 24,365 21,496 15,601 - -
Change - 1.96% -32.26% -5.78% -11.77% -27.42% - -
Enterprise Value (EV) 1 35,891 36,144 23,119 21,549 18,651 12,293 11,665 11,015
Change - 0.71% -36.04% -6.79% -13.45% -34.09% -5.12% -5.57%
P/E 119x 3,946x -235x 23.2x 26.3x 17.7x 15.9x 14.9x
PBR 4.9x 5.06x 3.57x 3x 2.55x 1.81x 1.71x 1.6x
PEG - -40.7x 0x -0x -1.2x 2.21x 1.4x 2.11x
Capitalization / Revenue 31.6x 83.4x 13.4x 10.1x 9.52x 6.85x 6.21x 5.94x
EV / Revenue 30.3x 78.9x 12x 8.91x 8.26x 5.4x 4.64x 4.2x
EV / EBITDA 49.5x 103x 52.2x 12.6x 13x 8.39x 7.34x 6.7x
EV / EBIT 96.4x -4,637x 250x 16.3x 17.3x 11.2x 8.96x 7.76x
EV / FCF 548x 411x 22.6x 19.3x 14.6x 12.5x 11.8x 9.1x
FCF Yield 0.18% 0.24% 4.43% 5.19% 6.86% 8.02% 8.5% 11%
Dividend per Share 2 0.05 0.05 0.1 0.2 0.25 0.2461 0.262 0.268
Rate of return 0.35% 0.34% 1.01% 2.15% 3.05% 4.12% 4.38% 4.48%
EPS 2 0.1205 0.0037 -0.042 0.4009 0.312 0.3369 0.3757 0.4022
Distribution rate 41.5% 1,351% -238% 49.9% 80.1% 73% 69.7% 66.6%
Net sales 1 1,185 457.8 1,926 2,417 2,258 2,278 2,513 2,626
EBITDA 1 724.6 350.9 442.8 1,704 1,436 1,465 1,589 1,644
EBIT 1 372.5 -7.794 92.46 1,325 1,079 1,098 1,302 1,420
Net income 1 315.1 9.658 -109.9 1,049 817.7 878.3 987.2 1,057
Net Debt 1 -1,552 -2,031 -2,742 -2,816 -2,845 -3,308 -3,937 -4,586
Reference price 2 14.320 14.600 9.870 9.290 8.190 5.980 5.980 5.980
Nbr of stocks (in thousands) 2,614,694 2,614,694 2,620,094 2,622,670 2,624,680 2,608,875 - -
Announcement Date 22/04/22 27/04/23 25/04/24 24/04/25 23/04/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.75x5.4x8.39x4.12% 2.32B
-362.17x1.53x16.05x-.--% 41.35B
32.33x3.72x15.8x-.--% 3.68B
Average -104.03x 3.55x 13.42x 1.37% 15.78B
Weighted average by Cap. -312.88x 1.89x 15.66x 0.2%

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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