Financials Shanghai Foreign Service Holding Group Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-07 pm EDT			5-day change	1st Jan Change
4.77 ^CNY	-1.45%		+0.21%	-0.62%

Apr. 25	Shanghai Foreign Service Holding Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 25	Shanghai Foreign Service Holding Group Co., Ltd. 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	4,782	9,291	16,205	13,631	10,962	10,893	-	-
Enterprise Value (EV) ¹	4,782	9,291	16,205	13,631	10,962	10,893	10,893	10,893
P/E ratio	51.3 x	159 x	23 x	24.7 x	18.6 x	17 x	14.3 x	14 x
Yield	-	-	-	2.01%	2.71%	2.94%	4.61%	-
Capitalization / Revenue	1.25 x	3.44 x	-	0.93 x	0.57 x	0.48 x	0.4 x	0.37 x
EV / Revenue	1.25 x	3.44 x	-	0.93 x	0.57 x	0.48 x	0.4 x	0.37 x
EV / EBITDA	-	16 x	-	15.3 x	10.9 x	12.2 x	10.3 x	11.2 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	2.87 x	-	3.49 x	2.58 x	2.37 x	2.16 x	2.03 x
Nbr of stocks (in thousands)	1,053,362	1,053,362	2,263,279	2,283,297	2,283,712	2,283,712	-	-
Reference price ²	4.540	8.820	7.160	5.970	4.800	4.770	4.770	4.770
Announcement Date	4/20/20	3/24/21	4/22/22	4/21/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,836	2,701	-	14,664	19,156	22,926	27,417	29,551
EBITDA ¹	-	579.3	-	891.8	1,005	893.5	1,055	973
EBIT ¹	-	100.9	-	815.5	890.1	985.5	1,153	1,214
Operating Margin	-	3.73%	-	5.56%	4.65%	4.3%	4.21%	4.11%
Earnings before Tax (EBT) ¹	-	96.07	-	813.3	912.3	985	1,152	1,211
Net income ¹	-	58.39	531.6	546.3	586	648	764.7	768
Net margin	-	2.16%	-	3.73%	3.06%	2.83%	2.79%	2.6%
EPS ²	0.0885	0.0554	0.3109	0.2413	0.2586	0.2800	0.3333	0.3400
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.1200	0.1300	0.1400	0.2200	-
Announcement Date	4/20/20	3/24/21	4/22/22	4/21/23	4/25/24	-	-	-

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	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	1.81%	-	14.2%	14.4%	14.4%	15.3%	14.3%
ROA (Net income/ Total Assets)	-	-	-	3.85%	-	3.79%	3.82%	4.3%
Assets ¹	-	-	-	14,174	-	17,113	20,035	17,860
Book Value Per Share ²	-	3.070	-	1.710	1.860	2.010	2.210	2.350
Cash Flow per Share ²	-	0.4200	-	0.3700	0.2400	0.6300	1.240	-
Capex ¹	-	-	-	67.1	1,768	83.3	88.3	60
Capex / Sales	-	-	-	0.46%	9.23%	0.36%	0.32%	0.2%
Announcement Date	4/20/20	3/24/21	4/22/22	4/21/23	4/25/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4.77 CNY

Average target price

6.25 CNY

Spread / Average Target

+31.03%

	1st Jan change	Capi.
SHANGHAI FOREIGN SERVICE HOLDING GROUP CO., LTD.	-0.62%	1.53B
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