| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 301296 | 3003 | 600210 | 601968 | 2228 | | 3018 | |
| SZSE:301296 | SZSE:003003 | SHSE:600210 | SHSE:601968 | SZSE:002228 | | SZSE:003018 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 15.1% | 7.0% | 0.2% | 9.3% | 0.4% | | 6.4% | |
| 3Y CAGR | 19.6% | 11.7% | 2.7% | 10.3% | 1.1% | | 14.6% | |
| Latest Twelve Months | 1.6% | -20.8% | -7.4% | -0.5% | -10.5% | | 12.2% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 14.4% | 3.6% | 8.3% | 4.6% | 2.0% | | 17.5% | |
| Prior Fiscal Year | 12.6% | -0.1% | 7.8% | 4.2% | 0.7% | | 14.5% | |
| Latest Fiscal Year | 12.9% | 4.1% | 8.6% | 4.7% | 1.3% | | 15.9% | |
| Latest Twelve Months | 11.2% | 5.8% | 9.5% | 3.8% | 1.5% | | 17.7% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.85x | 1.51x | 1.15x | 0.82x | 0.40x | | 3.14x | |
| EV / LTM EBIT | 16.6x | 26.2x | 12.1x | 21.6x | 26.3x | | 17.8x | |
| Price / LTM Sales | 2.45x | 1.51x | 1.15x | 0.76x | 0.31x | | 3.17x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.40x | 1.15x | 1.85x | | | | | |
| Historical EV / LTM Revenue | 2.64x | 3.53x | 5.85x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.94x | 3.10x | 3.25x | | | | | |
| (x) LTM Revenue | 862 | 862 | 862 | | | | | |
| (=) Implied Enterprise Value | 2,536 | 2,669 | 2,803 | | | | | |
| (-) Non-shareholder Claims * | 26 | 26 | 26 | | | | | |
| (=) Equity Value | 2,561 | 2,695 | 2,828 | | | | | |
| (/) Shares Outstanding | 260.0 | 260.0 | 260.0 | | | | | |
| Implied Value Range | 9.85 | 10.36 | 10.88 | | | | | |
| FX Rate: CNY/CNY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 9.85 | 10.36 | 10.88 | | 10.58 | | | |
| Upside / (Downside) | -6.9% | -2.0% | 2.8% | | | | | |