| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 2602 | 600736 | 1979 | 1914 | 631 | | 2016 | |
| SEHK:2602 | SHSE:600736 | SZSE:001979 | SZSE:001914 | SZSE:000631 | | SZSE:002016 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 21.1% | 1.4% | 12.9% | 23.1% | -3.8% | | -8.0% | |
| 3Y CAGR | 15.2% | -8.0% | 3.7% | 17.5% | 51.0% | | -19.3% | |
| Latest Twelve Months | 9.2% | -18.0% | 2.3% | 9.9% | -63.6% | | -31.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 6.3% | 5.5% | 11.9% | 7.3% | 25.2% | | 30.8% | |
| Prior Fiscal Year | 6.2% | 7.5% | 7.2% | 6.0% | 30.4% | | 21.8% | |
| Latest Fiscal Year | 4.5% | 1.1% | 5.2% | 6.6% | 15.4% | | 19.5% | |
| Latest Twelve Months | 4.5% | 3.5% | 5.2% | 6.6% | 12.3% | | 3.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.21x | 5.29x | 1.87x | 0.56x | 2.20x | | 4.64x | |
| EV / LTM EBIT | 4.7x | 153.0x | 35.8x | 8.4x | 17.9x | | 145.3x | |
| Price / LTM Sales | 0.65x | 0.75x | 0.50x | 0.78x | 9.44x | | 4.59x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.21x | 1.87x | 5.29x | | | | | |
| Historical EV / LTM Revenue | 1.09x | 1.80x | 2.66x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 3.24x | 3.41x | 3.58x | | | | | |
| (x) LTM Revenue | 1,034 | 1,034 | 1,034 | | | | | |
| (=) Implied Enterprise Value | 3,352 | 3,528 | 3,705 | | | | | |
| (-) Non-shareholder Claims * | (49) | (49) | (49) | | | | | |
| (=) Equity Value | 3,303 | 3,480 | 3,656 | | | | | |
| (/) Shares Outstanding | 809.1 | 809.1 | 809.1 | | | | | |
| Implied Value Range | 4.08 | 4.30 | 4.52 | | | | | |
| FX Rate: CNY/CNY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 4.08 | 4.30 | 4.52 | | 5.87 | | | |
| Upside / (Downside) | -30.4% | -26.7% | -23.0% | | | | | |