Company Valuation: Chengdu SIWI Science and Technology Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 178.5 580 332.6 319.5 263.1 319.9
Change - 224.93% -42.66% -3.93% -17.65% 21.59%
Enterprise Value (EV) 1 -240.1 106.8 -148 -49.46 -173.7 -51.52
Change - 144.48% -238.53% 66.57% -251.18% 70.34%
P/E -4.06x -11.1x -83.1x 115x 229x 107x
PBR 0.22x 0.77x 0.44x 0.41x 0.34x 0.41x
PEG - -0.6x 0.9x -1x -3.9x 1x
Capitalization / Revenue 0.43x 1.93x 1.09x 0.79x 0.87x 0.87x
EV / Revenue -0.58x 0.36x -0.49x -0.12x -0.58x -0.14x
EV / EBITDA 6.78x -1.95x -49x -5.47x -22.8x -4.59x
EV / EBIT 3.85x -1.38x 9.17x 4.74x 15.7x 7.67x
EV / FCF 3.04x 5.75x 17.1x 0.39x -2.85x 0.79x
FCF Yield 32.8% 17.4% 5.84% 253% -35.1% 127%
Dividend per Share 2 - - - - - 0.01
Rate of return - - - - - 1.25%
EPS 2 -0.11 -0.1307 -0.01 0.006929 0.002874 0.007456
Distribution rate - - - - - 134%
Net sales 1 417.3 300.4 304 403.6 302.1 366
EBITDA 1 -35.41 -54.71 3.018 9.036 7.633 11.22
EBIT 1 -62.41 -77.36 -16.13 -10.43 -11.08 -6.72
Net income 1 -43.19 -52.27 -2.224 2.772 1.15 2.983
Net Debt 1 -418.6 -473.2 -480.5 -369 -436.8 -371.4
Reference price 2 0.446 1.450 0.831 0.799 0.658 0.800
Nbr of stocks (in thousands) 400,000 400,000 400,000 400,000 400,000 400,000
Announcement Date 4/26/21 4/20/22 4/20/23 4/10/24 4/22/25 4/24/26
1CNY in Million2CNY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 75M
26.56x1.76x13.49x0.81% 41.14B
45.92x6.49x34.76x - 8.64B
19.77x1x8.31x2.32% 6.77B
15.63x0.4x7.05x0.88% 5.3B
52.45x3.85x37.32x0.12% 4.86B
16.84x1.97x11.26x1.75% 4.87B
16.95x2.07x11.12x1.82% 4.58B
Average 27.73x 2.51x 17.62x 1.28% 9.53B
Weighted average by Cap. 27.85x 2.30x 16.23x 1.05%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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