| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 600416 | 300011 | 600405 | 300510 | 688663 | | 2334 | |
| SHSE:600416 | SZSE:300011 | SHSE:600405 | SZSE:300510 | SHSE:688663 | | SZSE:002334 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -5.9% | 2.3% | -1.3% | -1.2% | 24.6% | | 14.0% | |
| 3Y CAGR | -1.0% | 7.6% | -11.2% | 11.4% | 26.2% | | 12.8% | |
| Latest Twelve Months | 1.7% | 24.6% | -39.9% | 7.7% | 11.4% | | -5.8% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 0.7% | 1.4% | -6.9% | -4.1% | 11.1% | | 3.9% | |
| Prior Fiscal Year | 9.4% | -8.4% | 2.2% | 2.0% | 10.2% | | 7.7% | |
| Latest Fiscal Year | 6.2% | 2.5% | -22.6% | -1.6% | 10.1% | | 6.1% | |
| Latest Twelve Months | 2.7% | 4.3% | -38.4% | -4.2% | 10.1% | | 6.1% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 3.40x | 3.36x | 5.65x | 2.88x | 1.58x | | 1.50x | |
| EV / LTM EBIT | 123.8x | 77.3x | -14.7x | -69.2x | 15.6x | | 24.6x | |
| Price / LTM Sales | 3.22x | 2.68x | 5.03x | 2.94x | 1.92x | | 1.65x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.58x | 3.36x | 5.65x | | | | | |
| Historical EV / LTM Revenue | 1.45x | 1.63x | 2.04x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.80x | 1.90x | 1.99x | | | | | |
| (x) LTM Revenue | 4,322 | 4,322 | 4,322 | | | | | |
| (=) Implied Enterprise Value | 7,787 | 8,196 | 8,606 | | | | | |
| (-) Non-shareholder Claims * | 637 | 637 | 637 | | | | | |
| (=) Equity Value | 8,424 | 8,834 | 9,243 | | | | | |
| (/) Shares Outstanding | 802.5 | 802.5 | 802.5 | | | | | |
| Implied Value Range | 10.50 | 11.01 | 11.52 | | | | | |
| FX Rate: CNY/CNY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 10.50 | 11.01 | 11.52 | | 8.79 | | | |
| Upside / (Downside) | 19.4% | 25.2% | 31.0% | | | | | |