Financials TRS Information Technology 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
15.91 ^CNY	+0.57%		+1.34%	-5.63%

Apr. 25	TRS Information Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 10	TRS Information Technology Co., Ltd. Proposes Final Cash Dividend for the Year 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,166	5,994	7,398	8,377	13,409	12,653	-	-
Enterprise Value (EV) ¹	6,166	5,994	7,398	8,377	13,409	12,653	12,653	12,653
P/E ratio	39.1 x	18.8 x	30.2 x	65.6 x	361 x	54.9 x	41.3 x	39.8 x
Yield	-	-	0.48%	0.34%	0.18%	-	-	-
Capitalization / Revenue	6.37 x	-	7.19 x	9.23 x	17.2 x	12.7 x	9.86 x	9.14 x
EV / Revenue	6.37 x	-	7.19 x	9.23 x	17.2 x	12.7 x	9.86 x	9.14 x
EV / EBITDA	-	-	20.8 x	34.9 x	74.8 x	40.8 x	31.9 x	30.1 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	2.98 x	-	2.89 x	3.37 x	4 x	3.53 x	3.24 x	3.02 x
Nbr of stocks (in thousands)	717,017	717,017	714,757	714,786	795,292	795,292	-	-
Reference price ²	8.600	8.360	10.35	11.72	16.86	15.91	15.91	15.91
Announcement Date	2/28/20	4/12/21	3/22/22	4/14/23	4/9/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	967.3	-	1,029	907.3	781.7	995	1,283	1,385
EBITDA ¹	-	-	355.1	239.9	179.2	310	396.1	420.7
EBIT ¹	177	-	274.3	139.7	35.54	248.3	336.6	328.8
Operating Margin	18.3%	-	26.67%	15.4%	4.55%	24.95%	26.24%	23.75%
Earnings before Tax (EBT) ¹	176.5	-	278.7	139.5	35.63	248.3	337.1	328.8
Net income ¹	157.2	319.2	245.7	127.7	36.47	233.3	308	320.1
Net margin	16.25%	-	23.89%	14.07%	4.67%	23.44%	24.01%	23.12%
EPS ²	0.2201	0.4451	0.3431	0.1787	0.0467	0.2900	0.3850	0.4000
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	0.0500	0.0400	0.0300	-	-	-
Announcement Date	2/28/20	4/12/21	3/22/22	4/14/23	4/9/24	-	-	-

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)	8.09%	15.8%	10.2%	4.9%	1.13%	6.51%	7.9%	7.64%
ROA (Net income/ Total Assets)	5.57%	-	7.5%	3.36%	-	5.8%	7.1%	-
Assets ¹	2,823	-	3,276	3,805	-	4,022	4,339	-
Book Value Per Share ²	2.890	-	3.590	3.470	4.210	4.510	4.910	5.270
Cash Flow per Share ²	0.3100	-	0.2600	0.2600	0.0600	0.2300	0.3300	0.3700
Capex ¹	257	-	-	345	226	211	171	254
Capex / Sales	26.59%	-	-	38.07%	28.96%	21.24%	13.33%	18.36%
Announcement Date	2/28/20	4/12/21	3/22/22	4/14/23	4/9/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

15.91 CNY

Average target price

18.51 CNY

Spread / Average Target

+16.34%

	1st Jan change	Capi.
TRS INFORMATION TECHNOLOGY CO., LTD.	-5.63%	1.75B
MICROSOFT CORPORATION	+10.29%	3,082B
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CADENCE DESIGN SYSTEMS, INC.	+5.55%	78.23B
DASSAULT SYSTÈMES SE	-13.73%	54.06B
ATLASSIAN CORPORATION	-24.43%	46.79B
PALANTIR TECHNOLOGIES INC.	+19.98%	45.87B
THE TRADE DESK, INC.	+21.26%	42.65B
SEA LIMITED	+60.27%	37.28B
TAKE-TWO INTERACTIVE SOFTWARE, INC.	-9.36%	24.89B