Financials Funshine Culture Group Co.,Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 26/04/2024 am IST			5-day change	1st Jan Change
38.09 ^CNY	+0.85%		+8.00%	-30.28%

24/04	Funshine Culture Group Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
03/04	Beijing Funshine Culture Media Co. Ltd. Approves Cash Dividend for 2023	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,420	11,634	7,145	7,493	5,189	-	-
Enterprise Value (EV) ¹	9,420	11,634	7,145	7,493	5,189	5,189	5,189
P/E ratio	30.1 x	127 x	473 x	55.7 x	22.3 x	19.4 x	17.3 x
Yield	-	-	-	-	-	-	-
Capitalization / Revenue	9.57 x	24.9 x	22.3 x	11.1 x	7.43 x	6.63 x	5.91 x
EV / Revenue	9.57 x	24.9 x	22.3 x	11.1 x	7.43 x	6.63 x	5.91 x
EV / EBITDA	26.7 x	85.2 x	235 x	38.3 x	16.6 x	14.6 x	13.6 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	2.98 x	-	2.23 x	2.28 x	1.52 x	1.41 x	1.31 x
Nbr of stocks (in thousands)	1,36,941	1,37,262	1,37,331	1,37,168	1,36,233	-	-
Reference price ²	68.79	84.76	52.03	54.63	38.09	38.09	38.09
Announcement Date	22/02/21	22/04/22	27/04/23	08/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	983.9	466.7	320.1	676.8	698.8	782.9	877.7
EBITDA ¹	352.9	136.6	30.36	195.5	311.7	354.7	380.6
EBIT ¹	338.3	122.2	9.501	167.9	295.6	340	381.2
Operating Margin	34.38%	26.19%	2.97%	24.81%	42.3%	43.42%	43.43%
Earnings before Tax (EBT) ¹	344.3	125.3	9.405	167.9	296.6	340	381.2
Net income ¹	260.5	92.16	14.71	134.5	235	268.8	301.4
Net margin	26.48%	19.75%	4.6%	19.87%	33.63%	34.34%	34.34%
EPS ²	2.284	0.6700	0.1100	0.9800	1.710	1.960	2.200
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	22/02/21	22/04/22	27/04/23	08/03/24	-	-	-

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	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	17.2%	2.92%	0.46%	4.15%	6.75%	7.18%	7.45%
ROA (Net income/ Total Assets)	-	-	0.38%	3.55%	-	-	-
Assets ¹	-	-	3,864	3,783	-	-	-
Book Value Per Share ²	23.10	-	23.30	23.90	25.00	27.00	29.20
Cash Flow per Share ²	0.5800	0.4000	0.1300	-0.3000	2.650	-0.5400	3.010
Capex ¹	4.97	36.8	22.7	32.4	0.47	7.87	9.26
Capex / Sales	0.51%	7.88%	7.09%	4.79%	0.07%	1.01%	1.05%
Announcement Date	22/02/21	22/04/22	27/04/23	08/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

38.09 CNY

Average target price

42.75 CNY

Spread / Average Target

+12.23%

	1st Jan change	Capi.
FUNSHINE CULTURE GROUP CO.,LTD.	-30.28%	716M
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FUJI KYUKO CO., LTD.	-18.25%	1.16B
HUANGSHAN TOURISM DEVELOPMENT CO.,LTD.	+17.10%	1.08B
EMEI SHAN TOURISM CO.,LTD	+42.33%	924M
CHINA TRAVEL INTERNATIONAL INVESTMENT HONG KONG LIMITED	-5.97%	891M
CORPORACIÓN INTERAMERICANA DE ENTRETENIMIENTO, S.A.B. DE C.V.	+5.46%	787M