Financials Pulike Biological Engineering, Inc.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-19 pm EDT			5-day change	1st Jan Change
23.58 ^CNY	+1.73%		+12.39%	+4.11%

Apr. 25	Pulike Biological Engineering, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 25	Pulike Biological Engineering, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,083	6,541	6,954	9,468	7,838	8,126	-	-
Enterprise Value (EV) ¹	6,083	6,287	6,785	9,194	7,522	7,098	7,005	8,126
P/E ratio	55.6 x	28.8 x	28.3 x	50.7 x	45.3 x	39.1 x	30.8 x	25.8 x
Yield	1.06%	2.41%	0.9%	1.28%	1.77%	2.88%	2.72%	5.13%
Capitalization / Revenue	9.17 x	7.04 x	6.33 x	7.71 x	6.26 x	5.81 x	5.15 x	4.51 x
EV / Revenue	9.17 x	6.77 x	6.18 x	7.49 x	6 x	5.08 x	4.44 x	4.51 x
EV / EBITDA	38.7 x	21.1 x	19.7 x	35.8 x	26.4 x	21.9 x	16.1 x	16.1 x
EV / FCF	-	-	-65,277,182 x	-	-	-	-	-
FCF Yield	-	-	-0%	-	-	-	-	-
Price to Book	3.67 x	3.9 x	3.95 x	3.45 x	2.93 x	2.9 x	2.72 x	2.64 x
Nbr of stocks (in thousands)	321,496	315,539	314,642	346,062	346,062	344,613	-	-
Reference price ²	18.92	20.73	22.10	27.36	22.65	23.58	23.58	23.58
Announcement Date	4/28/20	3/8/21	4/28/22	4/25/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	663.2	928.5	1,099	1,228	1,253	1,398	1,577	1,802
EBITDA ¹	157.3	297.8	343.9	256.9	285.4	324.5	436.2	504.6
EBIT ¹	106.9	246.6	284.6	183.2	193	229.8	294.3	349.2
Operating Margin	16.12%	26.56%	25.91%	14.92%	15.41%	16.43%	18.66%	19.38%
Earnings before Tax (EBT) ¹	117.2	260	284.2	184	194.6	230.3	295.8	350.4
Net income ¹	109.2	227.7	244.1	174.1	174.5	207.8	265.4	316
Net margin	16.47%	24.53%	22.22%	14.18%	13.93%	14.86%	16.83%	17.54%
EPS ²	0.3400	0.7200	0.7800	0.5400	0.5000	0.6033	0.7652	0.9140
Free Cash Flow	-	-	-103.9	-	-	-	-	-
FCF margin	-	-	-9.46%	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.2000	0.5000	0.2000	0.3500	0.4000	0.6800	0.6415	1.210
Announcement Date	4/28/20	3/8/21	4/28/22	4/25/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	-	254	169	274	316	1,028	1,121	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-104	-	-	-	-	-
ROE (net income / shareholders' equity)	6.68%	13.9%	14.1%	8.42%	6.31%	7.42%	8.93%	10.2%
ROA (Net income/ Total Assets)	5.74%	11.6%	11.6%	-	-	6.16%	7.54%	8.62%
Assets ¹	1,904	1,967	2,099	-	-	3,375	3,522	3,667
Book Value Per Share ²	5.160	5.320	5.600	7.930	7.720	8.130	8.650	8.940
Cash Flow per Share ²	0.4400	0.8100	0.6600	0.6600	0.8000	0.7200	1.040	1.080
Capex ¹	85.1	176	316	356	305	243	230	125
Capex / Sales	12.83%	18.98%	28.81%	29.02%	24.31%	17.35%	14.58%	6.92%
Announcement Date	4/28/20	3/8/21	4/28/22	4/25/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

23.58 CNY

Average target price

20.24 CNY

Spread / Average Target

-14.19%

	1st Jan change	Capi.
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