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 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.($)
- - - - 503M
18.12x2.49x10.97x2.82% 264B
26.78x3.12x16.9x1.98% 250B
30.2x3.88x17.9x1.64% 180B
50.87x6.81x29.33x0.86% 169B
34.47x5.31x22.62x1.08% 155B
102.51x14.33x74.26x0.29% 118B
51.57x8.26x33.6x0.08% 115B
28.54x4.69x16.39x1.59% 77.88B
37.3x5.86x24.93x1.07% 55B
Average 42.26x 6.08x 27.43x 1.27% 138.49B
Weighted average by Cap. 38.43x 5.38x 24.64x 1.5%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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