Financials Apeloa Pharmaceutical Co.,Ltd

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 16/05/2024 am IST			5-day change	1st Jan Change
15.83 ^CNY	+0.25%		+1.47%	+2.86%

17/04	Apeloa Pharmaceutical Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
10/04	Apeloa Pharmaceutical Co.,Ltd Approves Cash Dividend for 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	15,285	27,436	41,354	25,222	17,996	18,510	-	-
Enterprise Value (EV) ¹	15,285	27,436	41,354	25,222	17,996	18,510	18,510	18,510
P/E ratio	27.6 x	33.6 x	43.3 x	25.6 x	17.1 x	15.1 x	11.7 x	11.1 x
Yield	-	1.04%	0.81%	1.38%	2.05%	2.23%	3%	2.59%
Capitalization / Revenue	-	3.48 x	4.62 x	2.39 x	1.57 x	1.45 x	1.25 x	1.19 x
EV / Revenue	-	3.48 x	4.62 x	2.39 x	1.57 x	1.45 x	1.25 x	1.19 x
EV / EBITDA	-	-	27.9 x	18.1 x	11.3 x	11.5 x	8.63 x	8.91 x
EV / FCF	-	-	-479 x	30.7 x	43.9 x	91.2 x	11.7 x	10.2 x
FCF Yield	-	-	-0.21%	3.26%	2.28%	1.1%	8.55%	9.76%
Price to Book	-	6.25 x	8.17 x	4.61 x	2.91 x	2.61 x	2.22 x	1.99 x
Nbr of stocks (in thousands)	11,78,523	11,78,523	11,78,523	11,70,955	11,69,324	11,69,324	-	-
Reference price ²	12.97	23.28	35.09	21.54	15.39	15.83	15.83	15.83
Announcement Date	11/03/20	11/03/21	09/03/22	09/03/23	07/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	7,880	8,943	10,545	11,474	12,789	14,777	15,611
EBITDA ¹	-	-	1,482	1,393	1,591	1,611	2,146	2,077
EBIT ¹	-	969.7	1,119	1,012	1,220	1,405	1,827	1,914
Operating Margin	-	12.31%	12.52%	9.59%	10.63%	10.99%	12.36%	12.26%
Earnings before Tax (EBT) ¹	-	961.2	1,114	1,012	1,205	1,401	1,821	1,904
Net income ¹	-	816.7	955.6	989.2	1,055	1,231	1,590	1,688
Net margin	-	10.37%	10.69%	9.38%	9.2%	9.62%	10.76%	10.81%
EPS ²	0.4696	0.6930	0.8108	0.8425	0.9025	1.046	1.350	1.432
Free Cash Flow ¹	-	-	-86.3	821.9	409.9	203	1,582	1,807
FCF margin	-	-	-0.97%	7.79%	3.57%	1.59%	10.71%	11.57%
FCF Conversion (EBITDA)	-	-	-	58.98%	25.76%	12.6%	73.72%	87.01%
FCF Conversion (Net income)	-	-	-	83.09%	38.84%	16.49%	99.51%	107.03%
Dividend per Share ²	-	0.2430	0.2850	0.2970	0.3160	0.3533	0.4750	0.4100
Announcement Date	11/03/20	11/03/21	09/03/22	09/03/23	07/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-86.3	822	410	203	1,582	1,807
ROE (net income / shareholders' equity)	20.2%	20.2%	19%	18.2%	17.5%	19.2%	17.9%
ROA (Net income/ Total Assets)	-	11.5%	-	8.51%	9.55%	10.7%	10.7%
Assets ¹	-	8,329	-	12,394	12,887	14,868	15,779
Book Value Per Share ²	3.730	4.290	4.680	5.280	6.060	7.140	7.950
Cash Flow per Share ²	0.9000	0.5200	1.130	0.8800	1.230	1.780	1.720
Capex ¹	300	702	504	622	217	314	186
Capex / Sales	3.81%	7.85%	4.78%	5.42%	1.7%	2.12%	1.19%
Announcement Date	11/03/21	09/03/22	09/03/23	07/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

15.83 CNY

Average target price

17.75 CNY

Spread / Average Target

+12.13%

	1st Jan change	Capi.
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