Financials Tangrenshen Group Co., Ltd

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 17/05/2024 am IST			5-day change	1st Jan Change
6.58 ^CNY	+2.33%		+8.05%	-12.27%

10/05	Tangrenshen's Pig Sales Revenue Rises 14% in April	MT
29/04	Tangrenshen 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	7,496	7,764	9,009	9,696	10,659	9,351	-	-
Enterprise Value (EV) ¹	7,496	7,764	9,009	9,696	10,659	9,351	9,351	9,351
P/E ratio	37 x	7.41 x	-7.46 x	62.5 x	-6.87 x	1,072 x	7.42 x	32.2 x
Yield	2.59%	-	-	-	-	0.47%	3.27%	-
Capitalization / Revenue	0.49 x	-	0.41 x	-	0.4 x	0.29 x	0.25 x	0.24 x
EV / Revenue	0.49 x	-	0.41 x	-	0.4 x	0.29 x	0.25 x	0.24 x
EV / EBITDA	11.3 x	-	-	-	-14.4 x	6.89 x	2.99 x	15.3 x
EV / FCF	-	-	-	-	-30.1 x	-10.7 x	5.49 x	-
FCF Yield	-	-	-	-	-3.32%	-9.37%	18.2%	-
Price to Book	2.25 x	-	1.63 x	-	1.96 x	1.66 x	1.31 x	1.38 x
Nbr of stocks (in thousands)	8,36,571	9,79,078	12,06,018	13,69,467	14,21,175	14,21,175	-	-
Reference price ²	8.960	7.930	7.470	7.080	7.500	6.430	6.430	6.430
Announcement Date	27/02/20	01/04/21	28/04/22	27/04/23	29/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	15,343	-	21,742	-	26,949	31,886	36,961	39,350
EBITDA ¹	663.4	-	-	-	-738.3	1,357	3,124	613
EBIT ¹	354.7	-	-1,044	-	-1,601	5.314	1,340	344.7
Operating Margin	2.31%	-	-4.8%	-	-5.94%	0.02%	3.63%	0.88%
Earnings before Tax (EBT) ¹	329	-	-1,147	-	-1,629	242	1,310	315
Net income ¹	202.4	950.3	-1,147	-	-1,526	269.8	1,225	287.4
Net margin	1.32%	-	-5.28%	-	-5.66%	0.85%	3.31%	0.73%
EPS ²	0.2419	1.070	-1.001	0.1133	-1.092	0.006000	0.8667	0.2000
Free Cash Flow ¹	-	-	-	-	-353.7	-876	1,702	-
FCF margin	-	-	-	-	-1.31%	-2.75%	4.6%	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	54.49%	-
FCF Conversion (Net income)	-	-	-	-	-	-	138.98%	-
Dividend per Share ²	0.2320	-	-	-	-	0.0300	0.2100	-
Announcement Date	27/02/20	01/04/21	28/04/22	27/04/23	29/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-354	-876	1,702	-
ROE (net income / shareholders' equity)	5.84%	25.7%	-21.2%	-25%	0.08%	17%	3.5%
ROA (Net income/ Total Assets)	2.93%	-	-3.06%	-	1.4%	4.9%	-3.5%
Assets ¹	6,906	-	37,497	-	19,272	24,993	-8,212
Book Value Per Share ²	3.980	-	4.570	3.830	3.880	4.900	4.650
Cash Flow per Share ²	0.6500	-	-0.3100	0.3700	0.2900	1.700	0.6500
Capex ¹	752	-	3,184	889	1,369	1,459	1,129
Capex / Sales	4.9%	-	14.64%	3.3%	4.29%	3.95%	2.87%
Announcement Date	27/02/20	01/04/21	28/04/22	29/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.58 CNY

Average target price

7.243 CNY

Spread / Average Target

+10.08%

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