Financials Beijing Shunxin Agriculture Co.,Ltd

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-06-05 pm EDT			5-day change	1st Jan Change
17.85 ^CNY	-3.93%		-8.37%	-16.16%

Apr. 26	Beijing Shunxin Agriculture Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Jan. 15	Beijing Shunxin Agriculture to Raise Prices on Some Wine Products	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	39,076	53,808	28,321	22,119	15,792	13,241	-	-
Enterprise Value (EV) ¹	39,076	53,808	28,321	22,119	15,792	13,241	13,241	13,241
P/E ratio	48.3 x	128 x	277 x	-32.9 x	-53.4 x	23.9 x	16.7 x	14.5 x
Yield	0.28%	0.14%	0.07%	-	-	-	0.5%	1.12%
Capitalization / Revenue	2.62 x	3.47 x	1.9 x	1.89 x	1.49 x	1.2 x	1.09 x	1 x
EV / Revenue	2.62 x	3.47 x	1.9 x	1.89 x	1.49 x	1.2 x	1.09 x	1 x
EV / EBITDA	27.2 x	55.5 x	27.5 x	-358 x	37.6 x	10.5 x	8.55 x	7.81 x
EV / FCF	-	-	-60,439,342 x	16,946,977 x	-	-	-	-
FCF Yield	-	-	-0%	0%	-	-	-	-
Price to Book	5.26 x	6.95 x	3.65 x	3.13 x	2.33 x	1.81 x	1.63 x	1.48 x
Nbr of stocks (in thousands)	741,767	741,767	741,767	741,767	741,767	741,767	-	-
Reference price ²	52.68	72.54	38.18	29.82	21.29	17.85	17.85	17.85
Announcement Date	4/25/20	4/13/21	4/14/22	3/24/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	14,900	15,511	14,869	11,678	10,593	10,993	12,174	13,215
EBITDA ¹	1,435	969.4	1,029	-61.79	420	1,257	1,549	1,696
EBIT ¹	1,186	715.4	563.2	-373.9	74.91	869.7	1,189	1,340
Operating Margin	7.96%	4.61%	3.79%	-3.2%	0.71%	7.91%	9.77%	10.14%
Earnings before Tax (EBT) ¹	1,185	701.1	561.7	-377.3	72.6	856.1	1,183	1,336
Net income ¹	809.2	420	102.3	-673.2	-295.6	556.2	791.7	913
Net margin	5.43%	2.71%	0.69%	-5.76%	-2.79%	5.06%	6.5%	6.91%
EPS ²	1.091	0.5662	0.1379	-0.9076	-0.3985	0.7475	1.068	1.230
Free Cash Flow	-	-	-468.6	1,305	-	-	-	-
FCF margin	-	-	-3.15%	11.18%	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.1500	0.1000	0.0250	-	-	-	0.0900	0.2000
Announcement Date	4/25/20	4/13/21	4/14/22	3/24/23	4/26/24	-	-	-

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	-	-	-469	1,305	-	-	-	-
ROE (net income / shareholders' equity)	11.5%	5.54%	1.32%	-9.07%	-4.27%	7.88%	9.64%	9.97%
ROA (Net income/ Total Assets)	3.87%	1.92%	0.5%	-	-	4.05%	5.7%	5.8%
Assets ¹	20,937	21,853	20,533	-	-	13,733	13,890	15,741
Book Value Per Share ²	10.00	10.40	10.50	9.540	9.140	9.890	10.90	12.10
Cash Flow per Share ²	1.760	2.080	-0.4700	1.950	-1.000	-0.1400	1.680	0.9700
Capex ¹	127	163	120	144	153	184	203	201
Capex / Sales	0.85%	1.05%	0.81%	1.24%	1.45%	1.67%	1.67%	1.52%
Announcement Date	4/25/20	4/13/21	4/14/22	3/24/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

17.85 CNY

Average target price

22.72 CNY

Spread / Average Target

+27.28%

	1st Jan change	Capi.
BEIJING SHUNXIN AGRICULTURE CO.,LTD	-16.16%	1.9B
KWEICHOW MOUTAI CO., LTD.	-4.99%	285B
WULIANGYE YIBIN CO.,LTD.	+3.27%	78.07B
SHANXI XINGHUACUN FEN WINE FACTORY CO.,LTD.	+4.81%	41.07B
LUZHOU LAOJIAO CO.,LTD	-5.82%	34.93B
JIANGSU YANGHE BREWERY JOINT-STOCK CO., LTD.	-16.13%	19.36B
ANHUI GUJING DISTILLERY CO., LTD.	+6.34%	16.1B
DAVIDE CAMPARI-MILANO N.V.	-5.12%	12.38B
UNITED SPIRITS LIMITED	+16.79%	11.06B
JIANGSU KING'S LUCK BREWERY JOINT-STOCK CO.,LTD.	+7.55%	9.09B