Financials Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited Singapore S.E.

Equities

Market Closed - Singapore S.E. Other stock markets 02:29:00 03/05/2024 pm IST			5-day change	1st Jan Change
1.98 ^USD	-0.50%		-1.00%	-4.35%

30/04	Tianjin Pharmaceutical's Q1 Profit, Revenue Fall 3%	MT
30/04	Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited Recommends Dividend	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,068	11,199	19,473	18,246	22,121	22,816	-	-
Enterprise Value (EV) ¹	9,068	11,199	19,473	18,246	22,121	22,816	22,816	22,816
P/E ratio	17.1 x	20.4 x	31.4 x	26.2 x	26.3 x	23 x	19.3 x	16.1 x
Yield	2.16%	1.71%	-	3.85%	3.8%	-	-	-
Capitalization / Revenue	1.3 x	1.7 x	-	2.21 x	2.69 x	2.52 x	2.29 x	2.08 x
EV / Revenue	1.3 x	1.7 x	-	2.21 x	2.69 x	2.52 x	2.29 x	2.08 x
EV / EBITDA	13.8 x	-	-	16.6 x	18 x	16.7 x	14.1 x	11.9 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.98 x	2.33 x	-	3.45 x	3.93 x	3.94 x	3.77 x	3.55 x
Nbr of stocks (in thousands)	7,68,873	7,73,643	7,73,443	7,73,443	7,70,158	7,70,158	-	-
Reference price ²	13.86	17.52	31.41	29.10	33.65	34.99	34.99	34.99
Announcement Date	17/04/20	30/03/21	30/03/22	31/03/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	6,994	6,604	-	8,249	8,222	9,053	9,961	10,982
EBITDA ¹	657	-	-	1,099	1,227	1,370	1,618	1,924
EBIT ¹	555.7	785.2	-	980	1,097	1,317	1,573	1,879
Operating Margin	7.95%	11.89%	-	11.88%	13.34%	14.55%	15.79%	17.11%
Earnings before Tax (EBT) ¹	743.1	768.1	-	980.2	1,095	1,318	1,573	1,879
Net income ¹	625.6	661.7	769.1	861.8	986.7	1,173	1,399	1,672
Net margin	8.94%	10.02%	-	10.45%	12%	12.96%	14.05%	15.23%
EPS ²	0.8100	0.8600	1.000	1.110	1.280	1.523	1.817	2.173
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.3000	0.3000	-	1.120	1.280	-	-	-
Announcement Date	17/04/20	30/03/21	30/03/22	31/03/23	29/03/24	-	-	-

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)	12.1%	11.8%	-	13.2%	15.1%	17.2%	19.7%	22.4%
ROA (Net income/ Total Assets)	8.37%	-	-	-	-	11.2%	13.6%	15.4%
Assets ¹	7,474	-	-	-	-	10,475	10,288	10,859
Book Value Per Share ²	7.010	7.510	-	8.430	8.570	8.890	9.270	9.860
Cash Flow per Share ²	0.9500	0.8700	-	0.8800	0.8900	1.500	1.400	1.540
Capex ¹	206	182	-	106	141	30	29	28
Capex / Sales	2.94%	2.76%	-	1.29%	1.71%	0.33%	0.29%	0.25%
Announcement Date	17/04/20	30/03/21	30/03/22	31/03/23	29/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

34.99 CNY

Average target price

45.8 CNY

Spread / Average Target

+30.89%

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