Financials Sichuan Jiuyuan Yinhai Software.Co.,Ltd

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
18.36 ^CNY	-2.96%		-4.42%	-26.88%

Apr. 24	Sichuan Jiuyuan Yinhai Software.Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 24	Sichuan Jiuyuan Yinhai Software.Co.,Ltd Approves Cash Dividend for the Year 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,165	7,329	8,683	6,123	10,251	7,495	-	-
Enterprise Value (EV) ¹	8,165	7,329	8,683	6,123	10,251	7,495	7,495	7,495
P/E ratio	50.6 x	39.6 x	40.1 x	33.3 x	61.2 x	35 x	23.8 x	21.3 x
Yield	-	0.64%	0.71%	-	0.48%	-	0.49%	-
Capitalization / Revenue	8.03 x	6.35 x	6.65 x	4.77 x	7.61 x	4.74 x	3.76 x	3.31 x
EV / Revenue	8.03 x	6.35 x	6.65 x	4.77 x	7.61 x	4.74 x	3.76 x	3.31 x
EV / EBITDA	36.5 x	27.8 x	30.4 x	24.6 x	42.4 x	27 x	19.4 x	17.4 x
EV / FCF	-	46,676,137 x	77,100,314 x	-	-	-	-	-
FCF Yield	-	0%	0%	-	-	-	-	-
Price to Book	7.18 x	5.86 x	6.1 x	3.97 x	6.14 x	4.03 x	3.48 x	3.08 x
Nbr of stocks (in thousands)	408,231	408,231	408,231	408,231	408,231	408,231	-	-
Reference price ²	20.00	17.95	21.27	15.00	25.11	18.36	18.36	18.36
Announcement Date	2/25/20	2/23/21	2/20/22	2/23/23	4/2/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,016	1,154	1,306	1,283	1,347	1,580	1,991	2,264
EBITDA ¹	223.9	264.1	285.3	248.8	241.6	277.7	385.4	429.9
EBIT ¹	198.2	236.5	253.3	207.3	189.9	249.2	339	406.8
Operating Margin	19.5%	20.51%	19.39%	16.16%	14.1%	15.77%	17.03%	17.97%
Earnings before Tax (EBT) ¹	197.8	234.6	253.9	208	189.5	249.1	339.4	406.8
Net income ¹	161.5	186.6	218	184.2	167.9	214.6	295.9	350.8
Net margin	15.89%	16.18%	16.7%	14.36%	12.47%	13.58%	14.86%	15.5%
EPS ²	0.3956	0.4538	0.5300	0.4500	0.4100	0.5250	0.7700	0.8600
Free Cash Flow	-	157	112.6	-	-	-	-	-
FCF margin	-	13.61%	8.62%	-	-	-	-	-
FCF Conversion (EBITDA)	-	59.45%	39.48%	-	-	-	-	-
FCF Conversion (Net income)	-	84.14%	51.65%	-	-	-	-	-
Dividend per Share ²	-	0.1154	0.1500	-	0.1200	-	0.0900	-
Announcement Date	2/25/20	2/23/21	2/20/22	2/23/23	4/2/24	-	-	-

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	-	157	113	-	-	-	-	-
ROE (net income / shareholders' equity)	15%	15.5%	16.4%	12.5%	10.5%	11.4%	13.6%	14.3%
ROA (Net income/ Total Assets)	-	8.72%	6.39%	7.41%	-	6.8%	8.18%	8.3%
Assets ¹	-	2,141	3,412	2,484	-	3,155	3,619	4,227
Book Value Per Share ²	2.790	3.060	3.480	3.780	4.090	4.560	5.280	5.970
Cash Flow per Share ²	0.4200	0.5100	0.2800	0.0900	0.4600	0.8400	0.8700	1.040
Capex ¹	44.8	50.6	89.8	95.6	154	89.3	102	103
Capex / Sales	4.4%	4.39%	6.88%	7.45%	11.46%	5.65%	5.1%	4.55%
Announcement Date	2/25/20	2/23/21	2/20/22	2/23/23	4/2/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

18.36 CNY

Average target price

28.79 CNY

Spread / Average Target

+56.81%

	1st Jan change	Capi.
SICHUAN JIUYUAN YINHAI SOFTWARE.CO.,LTD	-26.88%	1.04B
MICROSOFT CORPORATION	+10.29%	3,082B
SYNOPSYS INC.	+8.12%	84.92B
CADENCE DESIGN SYSTEMS, INC.	+5.55%	78.23B
DASSAULT SYSTÈMES SE	-13.73%	54.06B
PALANTIR TECHNOLOGIES INC.	+19.98%	45.87B
ATLASSIAN CORPORATION	-24.43%	46.79B
THE TRADE DESK, INC.	+21.26%	42.65B
SEA LIMITED	+60.27%	37.28B
TAKE-TWO INTERACTIVE SOFTWARE, INC.	-9.36%	24.89B