Financials Hangzhou SF Intra-city Industrial Co., Ltd.

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:07 2024-05-09 am EDT			5-day change	1st Jan Change
10.04 ^HKD	-0.20%		-3.09%	-3.28%

Mar. 26	Hangzhou SF Intra-city Industrial Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Mar. 13	SF Intra-City to Return to Profit in 2023	MT

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	12,489	6,183	8,766	8,523	-	-
Enterprise Value (EV) ¹	9,658	4,162	8,766	6,437	6,155	5,693
P/E ratio	-10.5 x	-21.4 x	189 x	56.4 x	33 x	20.8 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	1.53 x	0.6 x	0.71 x	0.57 x	0.48 x	0.42 x
EV / Revenue	1.18 x	0.41 x	0.71 x	0.43 x	0.35 x	0.28 x
EV / EBITDA	-11.5 x	-14.2 x	194 x	29.7 x	18.7 x	13.4 x
EV / FCF	-	-	-	64.9 x	68.4 x	26 x
FCF Yield	-	-	-	1.54%	1.46%	3.85%
Price to Book	3.77 x	2.05 x	-	2.73 x	2.5 x	2.19 x
Nbr of stocks (in thousands)	933,458	933,458	929,105	918,798	-	-
Reference price ²	13.38	6.624	9.434	9.276	9.276	9.276
Announcement Date	3/30/22	3/28/23	3/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	8,174	10,265	12,387	14,971	17,809	20,270
EBITDA ¹	-	-841.6	-293.8	45.29	216.8	329.8	425.2
EBIT ¹	-	-954.1	-394.3	-27.01	88.77	192.7	387
Operating Margin	-	-11.67%	-3.84%	-0.22%	0.59%	1.08%	1.91%
Earnings before Tax (EBT) ¹	-	-902.6	-288.8	62.59	169.1	294.8	471.1
Net income ¹	-757.7	-898.9	-286.9	50.6	152.2	263	415.5
Net margin	-	-11%	-2.79%	0.41%	1.02%	1.48%	2.05%
EPS ²	-1.600	-1.280	-0.3100	0.0500	0.1643	0.2810	0.4450
Free Cash Flow ¹	-	-	-	-	99.22	90	219
FCF margin	-	-	-	-	0.66%	0.51%	1.08%
FCF Conversion (EBITDA)	-	-	-	-	45.77%	27.29%	51.5%
FCF Conversion (Net income)	-	-	-	-	65.18%	34.22%	52.71%
Dividend per Share ²	-	-	-	-	-	-	-
Announcement Date	11/30/21	3/30/22	3/28/23	3/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-
Net Cash position ¹	-	2,831	2,021	-	2,086	2,367	2,830
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-	99.2	90	219
ROE (net income / shareholders' equity)	-	-48.9%	-6.9%	-	4.92%	7.84%	11.2%
ROA (Net income/ Total Assets)	-	-32%	-6.9%	-	3.69%	4.65%	6.58%
Assets ¹	-	2,811	4,156	-	4,130	5,652	6,310
Book Value Per Share ²	-	3.550	3.230	-	3.400	3.710	4.230
Cash Flow per Share ²	-	-0.7600	-0.4400	-	0.1000	0.5000	0.5900
Capex ¹	-	88.8	108	-	111	122	109
Capex / Sales	-	1.09%	1.06%	-	0.74%	0.69%	0.54%
Announcement Date	11/30/21	3/30/22	3/28/23	3/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.276 CNY

Average target price

11.34 CNY

Spread / Average Target

+22.20%

	1st Jan change	Capi.
HANGZHOU SF INTRA-CITY INDUSTRIAL CO., LTD.	-3.28%	1.18B
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OSTERREICHISCHE POST AG	-0.61%	2.29B
DEPPON LOGISTICS CO., LTD.	+13.20%	2.27B
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SINGAPORE POST LIMITED	-3.16%	747M
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