Financials Beijing Tong Ren Tang Chinese Medicine Company Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 01:38:22 10/05/2024 pm IST			5-day change	1st Jan Change
10.16 ^HKD	0.00%		+8.20%	-16.31%

10/05	Beijing Tong Ren Tang Chinese Medicine Company Limited Appoints Wang Chi as an Executive Director and a Member of the Competition Executive Committee	CI
10/05	Beijing Tong Ren Tang Chinese Medicine Company Limited Announces CEO Changes	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,844	6,822	11,234	9,593	10,162	8,505	-	-
Enterprise Value (EV) ¹	7,877	4,978	8,960	7,350	7,784	5,672	5,872	5,196
P/E ratio	17.8 x	12.5 x	18.4 x	14.9 x	18.7 x	13.1 x	10.1 x	9.96 x
Yield	1.96%	2.94%	2.09%	2.88%	2.72%	3.94%	4.58%	5.12%
Capitalization / Revenue	6.87 x	5.19 x	7.22 x	5.54 x	6.66 x	4.9 x	4.28 x	3.65 x
EV / Revenue	5.5 x	3.78 x	5.76 x	4.25 x	5.1 x	3.27 x	2.95 x	2.23 x
EV / EBITDA	11 x	7.19 x	11.3 x	8.88 x	12.1 x	6.61 x	5.87 x	4.34 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.7 x	2.26 x	3.29 x	2.66 x	2.63 x	2.02 x	1.85 x	1.71 x
Nbr of stocks (in thousands)	8,37,100	8,37,100	8,37,100	8,37,100	8,37,100	8,37,100	-	-
Reference price ²	11.76	8.150	13.42	11.46	12.14	10.16	10.16	10.16
Announcement Date	24/03/20	11/03/21	09/03/22	13/03/23	14/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,433	1,315	1,556	1,731	1,525	1,735	1,988	2,328
EBITDA ¹	717.2	691.9	793.8	827.8	642.9	858	1,000	1,197
EBIT ¹	652	669.4	778.5	811.6	624.1	777.8	912.9	1,084
Operating Margin	45.51%	50.89%	50.02%	46.88%	40.93%	44.83%	45.91%	46.56%
Earnings before Tax (EBT) ¹	689.2	685.9	778.4	826	687.8	832.8	983.5	1,131
Net income ¹	556.1	542.5	607.8	645.9	540.4	652	758.1	857.7
Net margin	38.82%	41.24%	39.06%	37.31%	35.44%	37.58%	38.13%	36.84%
EPS ²	0.6600	0.6500	0.7300	0.7700	0.6500	0.7750	1.003	1.020
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.2300	0.2400	0.2800	0.3300	0.3300	0.4000	0.4650	0.5200
Announcement Date	24/03/20	11/03/21	09/03/22	13/03/23	14/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	1,967	1,845	2,274	2,243	2,378	2,833	2,633	3,309
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	20%	19.1%	18.9%	18.4%	14.5%	16.1%	17.1%	18%
ROA (Net income/ Total Assets)	17.6%	16.6%	16.8%	-	12.5%	14%	14.4%	-
Assets ¹	3,155	3,278	3,626	-	4,330	4,657	5,265	-
Book Value Per Share ²	3.180	3.600	4.080	4.310	4.620	5.040	5.500	5.950
Cash Flow per Share ²	0.6600	0.1400	0.9300	0.6500	0.5500	0.8900	0.8500	-
Capex ¹	17	12.9	23.4	38.5	21.9	59	63	-
Capex / Sales	1.19%	0.98%	1.5%	2.22%	1.44%	3.4%	3.17%	-
Announcement Date	24/03/20	11/03/21	09/03/22	13/03/23	14/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.16 HKD

Average target price

13.92 HKD

Spread / Average Target

+37.06%

	1st Jan change	Capi.
BEIJING TONG REN TANG CHINESE MEDICINE COMPANY LIMITED	-16.31%	1.09B
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ABBVIE INC.	+3.73%	284B
ASTRAZENECA PLC	+16.70%	240B
NOVARTIS AG	+8.78%	208B
ROCHE HOLDING AG	-7.93%	200B
AMGEN INC.	+7.68%	166B