Financials Shenzhen Tagen Group Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 30/04/2024 am IST			5-day change	1st Jan Change
4.37 ^CNY	-3.74%		+0.69%	-5.00%

25/04	Shenzhen Tagen Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
16/04	Shenzhen Tagen Group Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,903	11,099	10,968	10,202	8,595	8,166	-	-
Enterprise Value (EV) ¹	9,903	11,099	10,968	10,202	8,595	8,166	8,166	8,166
P/E ratio	8.77 x	8.05 x	6.11 x	5.62 x	6.22 x	5.8 x	5.4 x	5.18 x
Yield	7.17%	-	5.62%	-	-	-	-	-
Capitalization / Revenue	0.68 x	0.65 x	0.47 x	0.39 x	0.32 x	0.29 x	0.28 x	0.27 x
EV / Revenue	0.68 x	0.65 x	0.47 x	0.39 x	0.32 x	0.29 x	0.28 x	0.27 x
EV / EBITDA	4.98 x	4.67 x	3.59 x	3.25 x	3.69 x	3.06 x	2.87 x	2.64 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.27 x	1.31 x	1.15 x	0.97 x	0.76 x	0.56 x	0.52 x	0.49 x
Nbr of stocks (in thousands)	18,68,545	18,68,545	18,68,545	18,68,545	18,68,545	18,68,545	-	-
Reference price ²	5.300	5.940	5.870	5.460	4.600	4.370	4.370	4.370
Announcement Date	13/04/20	12/04/21	15/04/22	13/04/23	16/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	14,665	17,125	23,269	26,464	26,999	28,167	29,372	30,359
EBITDA ¹	1,990	2,379	3,055	3,141	2,329	2,669	2,841	3,091
EBIT ¹	1,801	2,193	2,808	2,806	1,909	1,872	2,003	2,087
Operating Margin	12.28%	12.81%	12.07%	10.6%	7.07%	6.64%	6.82%	6.87%
Earnings before Tax (EBT) ¹	1,801	2,193	2,778	2,814	1,995	1,902	2,046	2,130
Net income ¹	1,236	1,486	1,933	1,950	1,517	1,406	1,514	1,577
Net margin	8.43%	8.68%	8.31%	7.37%	5.62%	4.99%	5.15%	5.2%
EPS ²	0.6042	0.7380	0.9606	0.9713	0.7397	0.7533	0.8100	0.8433
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	0.3800	-	0.3300	-	-	-	-	-
Announcement Date	13/04/20	12/04/21	15/04/22	13/04/23	16/04/24	-	-	-

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	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	13.4%	14.3%	16.9%	18%	12.6%	8.91%	8.99%	8.73%
ROA (Net income/ Total Assets)	-	-	-	-	-	1.9%	2%	1.8%
Assets ¹	-	-	-	-	-	73,982	75,700	87,630
Book Value Per Share ²	4.170	4.530	5.090	5.630	6.090	7.760	8.350	8.960
Cash Flow per Share ²	0.1600	-0.0800	0.5700	-0.7800	3.800	0.0200	2.570	-0.4400
Capex ¹	160	671	672	716	-	585	457	504
Capex / Sales	1.09%	3.92%	2.89%	2.7%	-	2.08%	1.55%	1.66%
Announcement Date	13/04/20	12/04/21	15/04/22	13/04/23	16/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4.37 CNY

Average target price

5.44 CNY

Spread / Average Target

+24.49%

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