Financials Yantai Dongcheng Pharmaceutical Group 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
13.46 ^CNY	-3.24%		-2.68%	-26.57%

05-07	US FDA Grants Clinical Trial Approval for Dongcheng Biochemicals' Injection	MT
04-29	Dongcheng Biochemicals' Unit Gets Nod to Trial Tumor Drug	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	12,924	15,972	12,659	13,655	15,115	11,099	-	-
Enterprise Value (EV) ¹	12,924	15,972	12,659	13,655	15,115	11,099	11,099	11,099
P/E ratio	83.5 x	38.2 x	83.5 x	43.5 x	72.1 x	37 x	22.9 x	25.4 x
Yield	-	-	-	0.91%	0.68%	1.11%	-	1.78%
Capitalization / Revenue	4.32 x	4.67 x	3.24 x	3.81 x	4.61 x	3.28 x	2.77 x	2.53 x
EV / Revenue	4.32 x	4.67 x	3.24 x	3.81 x	4.61 x	3.28 x	2.77 x	2.53 x
EV / EBITDA	26.2 x	22.3 x	26.6 x	23.6 x	31.1 x	13.4 x	11.4 x	10.1 x
EV / FCF	-	-	-	-	-64.6 x	42 x	19.8 x	17.6 x
FCF Yield	-	-	-	-	-1.55%	2.38%	5.06%	5.68%
Price to Book	3.01 x	3.57 x	2.88 x	2.88 x	3.17 x	2.24 x	2.05 x	2.03 x
Nbr of stocks (in thousands)	802,214	802,214	802,214	824,596	824,596	824,596	-	-
Reference price ²	16.11	19.91	15.78	16.56	18.33	13.46	13.46	13.46
Announcement Date	21/02/20	29/04/21	28/04/22	28/04/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,993	3,419	3,912	3,583	3,276	3,384	4,000	4,387
EBITDA ¹	492.8	715.3	476.4	578.7	485.8	827.3	974.1	1,104
EBIT ¹	393.8	609.1	356.9	448.3	341.7	475	746.8	699
Operating Margin	13.16%	17.82%	9.12%	12.51%	10.43%	14.04%	18.67%	15.93%
Earnings before Tax (EBT) ¹	395.8	611.4	356.1	445.6	337.3	472.3	745.1	696
Net income ¹	154.7	417.8	151.6	307.3	209.7	300.5	483.5	439
Net margin	5.17%	12.22%	3.87%	8.58%	6.4%	8.88%	12.09%	10.01%
EPS ²	0.1929	0.5208	0.1889	0.3804	0.2543	0.3633	0.5871	0.5300
Free Cash Flow ¹	-	-	-	-	-233.9	264	561.2	630
FCF margin	-	-	-	-	-7.14%	7.8%	14.03%	14.36%
FCF Conversion (EBITDA)	-	-	-	-	-	31.91%	57.61%	57.07%
FCF Conversion (Net income)	-	-	-	-	-	87.86%	116.07%	143.51%
Dividend per Share ²	-	-	-	0.1500	0.1250	0.1500	-	0.2400
Announcement Date	21/02/20	29/04/21	28/04/22	28/04/23	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 ¹	-	-	-	-	-234	264	561	630
ROE (net income / shareholders' equity)	3.65%	9.57%	3.43%	6.79%	4.53%	6.09%	8.92%	8.04%
ROA (Net income/ Total Assets)	-	-	-	3.88%	-	3.75%	5.4%	5.1%
Assets ¹	-	-	-	7,917	-	8,012	8,954	8,608
Book Value Per Share ²	5.350	5.570	5.480	5.760	5.790	6.020	6.560	6.620
Cash Flow per Share ²	0.8700	0.7100	1.180	1.210	0.3400	0.9800	0.9700	1.120
Capex ¹	250	249	530	389	511	372	294	82
Capex / Sales	8.36%	7.27%	13.54%	10.86%	15.6%	11%	7.34%	1.87%
Announcement Date	21/02/20	29/04/21	28/04/22	28/04/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.46 CNY

Average target price

19.9 CNY

Spread / Average Target

+47.85%

	1st Jan change	Capi.
YANTAI DONGCHENG PHARMACEUTICAL GROUP CO.,LTD.	-26.57%	1.54B
SUN PHARMACEUTICAL INDUSTRIES LTD.	+19.62%	43.27B
OTSUKA HOLDINGS CO., LTD.	+24.52%	22.92B
SANDOZ GROUP AG	+20.29%	15.43B
CIPLA LIMITED	+7.48%	12.95B
ZYDUS LIFESCIENCES LIMITED	+42.51%	11.83B
ONO PHARMACEUTICAL CO., LTD.	-8.84%	6.91B
THE MEDICINES COMPANY	-0.05%	6.79B
STADA ARZNEIMITTEL	-8.87%	5.73B
ASPEN PHARMACARE HOLDINGS LIMITED	+13.13%	5.55B