| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 1212 | 600801 | 1296 | 789 | 300234 | | 3037 | |
| SZSE:001212 | SHSE:600801 | SZSE:001296 | SZSE:000789 | SZSE:300234 | | SZSE:003037 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 4.1% | 4.2% | NM- | -4.3% | 16.3% | | 3.4% | |
| 3Y CAGR | 7.5% | 4.8% | 2.1% | -13.2% | 11.7% | | -2.0% | |
| Latest Twelve Months | -18.4% | 4.5% | 17.6% | -29.9% | 2.1% | | -12.5% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 14.3% | 19.8% | 10.8% | 14.3% | 8.7% | | 3.4% | |
| Prior Fiscal Year | 11.9% | 14.5% | 6.2% | 7.1% | 5.0% | | 3.9% | |
| Latest Fiscal Year | 8.9% | 13.4% | 13.4% | 6.4% | 11.1% | | 2.5% | |
| Latest Twelve Months | 6.0% | 11.5% | 13.6% | 0.5% | 6.5% | | 1.8% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 4.87x | 1.05x | 2.23x | 0.88x | 3.84x | | 0.79x | |
| EV / LTM EBIT | 81.2x | 9.2x | 16.4x | 181.8x | 59.6x | | 44.7x | |
| Price / LTM Sales | 5.95x | 0.67x | 2.53x | 0.69x | 4.27x | | 0.62x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.88x | 2.23x | 4.87x | | | | | |
| Historical EV / LTM Revenue | 0.70x | 1.00x | 1.03x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.90x | 0.95x | 1.00x | | | | | |
| (x) LTM Revenue | 6,063 | 6,063 | 6,063 | | | | | |
| (=) Implied Enterprise Value | 5,484 | 5,772 | 6,061 | | | | | |
| (-) Non-shareholder Claims * | (1,017) | (1,017) | (1,017) | | | | | |
| (=) Equity Value | 4,466 | 4,755 | 5,044 | | | | | |
| (/) Shares Outstanding | 596.3 | 596.3 | 596.3 | | | | | |
| Implied Value Range | 7.49 | 7.97 | 8.46 | | | | | |
| FX Rate: CNY/CNY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 7.49 | 7.97 | 8.46 | | 6.31 | | | |
| Upside / (Downside) | 18.7% | 26.4% | 34.0% | | | | | |