Company Valuation: Alpha Group

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 8,265 9,360 6,891 12,939 12,791 13,086
Change - 13.25% -26.38% 87.77% -1.14% 2.31%
Enterprise Value (EV) 1 9,159 10,056 7,362 13,340 12,942 13,181
Change - 9.79% -26.79% 81.21% -2.99% 1.85%
P/E -18.5x -21.1x -38.8x 146x -45.5x 177x
PBR 2.57x 2.89x 2.11x 3.89x 4.26x 4.42x
PEG - 2.32x 0.6x -1x 0x -1x
Capitalization / Revenue 3.49x 3.54x 2.59x 4.72x 4.71x 5.29x
EV / Revenue 3.87x 3.8x 2.77x 4.87x 4.77x 5.33x
EV / EBITDA -69.6x -31.8x -69x 94x 86.9x 93.8x
EV / EBIT -42.9x -26.3x -47.9x 138x 117x 122x
EV / FCF 112x -32.7x 26.1x 297x 114x 113x
FCF Yield 0.89% -3.06% 3.84% 0.34% 0.87% 0.88%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.33 -0.3 -0.12 0.06 -0.19 0.05
Distribution rate - - - - - -
Net sales 1 2,368 2,644 2,657 2,739 2,715 2,473
EBITDA 1 -131.6 -316.1 -106.7 141.9 149 140.5
EBIT 1 -213.7 -383 -153.8 96.7 110.2 107.6
Net income 1 -450.3 -417.1 -171.6 93.64 -285.3 71.87
Net Debt 1 894.3 695.8 470.9 401.5 151 94.45
Reference price 2 6.090 6.330 4.660 8.750 8.650 8.850
Nbr of stocks (in thousands) 13,57,160 14,78,700 14,78,700 14,78,700 14,78,700 14,78,700
Announcement Date 26/04/21 29/04/22 28/04/23 29/04/24 28/04/25 27/04/26
1CNY in Million2CNY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 191.29Cr
22.73x2.14x11.7x1.9% 2.26TCr
15.09x2.91x9.92x3.17% 1.24TCr
29.17x8.16x17.86x3% 768.74Cr
8.54x0.96x6.33x-.--% 379.7Cr
32.42x1.61x15.81x-.--% 152.88Cr
10.77x0.8x4.46x3.03% 138.94Cr
Average 19.79x 2.76x 11.01x 1.85% 733.77Cr
Weighted average by Cap. 20.69x 3.13x 11.72x 2.22%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA