Company Valuation: Red phase INC.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 8,786 4,798 6,085 2,424 3,000 6,229
Change - -45.39% 26.81% -60.16% 23.77% 107.63%
Enterprise Value (EV) 1 10,233 5,398 7,125 3,010 2,762 5,881
Change - -47.25% 31.99% -57.75% -8.25% 112.95%
P/E Ratio 37.5x -7.53x 93.9x -5.28x -6.44x -325x
PBR 3.69x 2.83x 3.67x 2.53x 2.47x 5.2x
PEG - 0x -1x 0x 0.2x 3.4x
Capitalization / Revenue 5.8x 3.44x 3.72x 2.1x 4.73x 8.56x
EV / Revenue 6.75x 3.87x 4.35x 2.61x 4.35x 8.09x
EV / EBITDA 24.3x 23x 35.6x -35.6x -63.7x 128x
EV / EBIT 31.4x 43.3x 56.7x -21x -33.6x 442x
EV / FCF -33x 38.8x -14.8x 9.3x 10.8x 329x
FCF Yield -3.03% 2.58% -6.77% 10.8% 9.25% 0.3%
Dividend per Share 2 0.13 - - - - -
Rate of return 0.53% - - - - -
EPS 2 0.65 -1.77 0.1791 -1.268 -0.9166 -0.0377
Distribution rate 20% - - - - -
Net sales 1 1,516 1,394 1,637 1,154 634.9 727.4
EBITDA 1 420.7 234.4 200 -84.58 -43.33 45.99
EBIT 1 325.8 124.7 125.7 -143.4 -82.24 13.3
Net income 1 231.7 -635.8 65.45 -458.9 -353.1 -19.19
Net Debt 1 1,448 600 1,040 585.9 -238.7 -348.6
Reference price 2 24.390 13.320 16.820 6.700 5.900 12.250
Nbr of stocks (in thousands) 360,216 360,224 361,757 361,800 508,520 508,520
Announcement Date 4/23/21 4/27/22 4/28/23 4/29/24 4/21/25 4/27/26
1CNY in Million2CNY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 525M
24.09x2.88x15.61x2.18% 236B
51.99x7.1x30.56x0.83% 182B
28.24x3.68x17.01x1.74% 173B
34.1x5.28x22.31x1.1% 152B
116.34x16.35x84.33x0.26% 138B
51.12x8.19x33.32x0.09% 116B
29.15x4.78x16.71x1.55% 80.13B
31.24x6.53x20.34x0.6% 52.06B
36.94x6x24.85x1.24% 51.11B
Average 44.80x 6.75x 29.45x 1.06% 118.1B
Weighted average by Cap. 44.98x 6.48x 29.47x 1.18%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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