Financials Shanghai Henlius Biotech, Inc. OTC Markets

Equities

Market Closed - OTC Markets Other stock markets			5-day change	1st Jan Change
- ^USD	-.--%		-.--%	-.--%

05-14	Shanghai Henlius Biotech Gets Go-Ahead for Clinical Trials of Breast Cancer Drug in China	MT
05-14	Shanghai Henlius Biotech, Inc. Announces Approval of Application for Clinical Trials of HLX78 (lasofoxifene) by the National Medical Products Administration	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	19,793	21,477	9,765	6,144	6,866	9,152	-	-
Enterprise Value (EV) ¹	18,101	22,196	9,765	6,144	6,866	9,152	9,152	9,152
P/E ratio	-20.7 x	-21 x	-9.82 x	-8.83 x	12.6 x	15.3 x	12.7 x	11.1 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	218 x	36.6 x	5.8 x	1.91 x	1.27 x	1.56 x	1.42 x	1.23 x
EV / Revenue	218 x	36.6 x	5.8 x	1.91 x	1.27 x	1.56 x	1.42 x	1.23 x
EV / EBITDA	-25.7 x	-25 x	-23.3 x	-19.8 x	6.72 x	8.45 x	7.55 x	6.49 x
EV / FCF	-14.5 x	-17.8 x	-9.38 x	-	12 x	24.5 x	25.6 x	10.7 x
FCF Yield	-6.89%	-5.62%	-10.7%	-	8.36%	4.09%	3.9%	9.32%
Price to Book	4.53 x	6.71 x	4.25 x	3.75 x	-	3.24 x	2.76 x	2.28 x
Nbr of stocks (in thousands)	543,495	543,495	543,495	543,495	543,495	543,495	-	-
Reference price ²	36.42	39.52	17.97	11.30	12.63	16.84	16.84	16.84
Announcement Date	3/23/20	3/26/21	3/16/22	3/31/23	3/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	90.93	587.6	1,682	3,215	5,395	5,875	6,451	7,411
EBITDA ¹	-768.7	-857.8	-420	-310.6	1,021	1,083	1,213	1,410
EBIT ¹	-851.2	-993.6	-620.2	-323.8	662	751	851.2	1,075
Operating Margin	-936.09%	-169.09%	-36.86%	-10.07%	12.27%	12.78%	13.2%	14.51%
Earnings before Tax (EBT) ¹	-874.8	-993.5	-956.7	-693.9	569.6	662.5	804.6	953
Net income ¹	-875.5	-993.5	-984.1	-695.3	546	594.4	709.7	887.2
Net margin	-962.8%	-169.09%	-58.49%	-21.63%	10.12%	10.12%	11%	11.97%
EPS ²	-1.760	-1.880	-1.830	-1.280	1.000	1.101	1.323	1.521
Free Cash Flow ¹	-1,364	-1,207	-1,041	-	574.2	374	357	853
FCF margin	-1,500.51%	-205.34%	-61.86%	-	10.64%	6.37%	5.53%	11.51%
FCF Conversion (EBITDA)	-	-	-	-	56.23%	34.54%	29.43%	60.49%
FCF Conversion (Net income)	-	-	-	-	105.17%	62.92%	50.31%	96.15%
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	3/23/20	3/26/21	3/16/22	3/31/23	3/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	719	-	-	-	-	-	-
Net Cash position	1,692	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-0.8386 x	-	-	-	-	-	-
Free Cash Flow ¹	-1,364	-1,207	-1,041	-	574	374	357	853
ROE (net income / shareholders' equity)	-30.2%	-27.6%	-35.8%	-35.4%	28.5%	27%	28.7%	28.3%
ROA (Net income/ Total Assets)	-	-16.1%	-	-	-	6.9%	6.05%	6.4%
Assets ¹	-	6,169	-	-	-	8,614	11,730	13,862
Book Value Per Share ²	8.050	5.890	4.230	3.010	-	5.200	6.100	7.400
Cash Flow per Share	-	-1.230	-	-	-	-	-	-
Capex ¹	289	557	460	585	474	675	602	588
Capex / Sales	317.77%	94.79%	27.37%	18.2%	8.78%	11.48%	9.33%	7.93%
Announcement Date	3/23/20	3/26/21	3/16/22	3/31/23	3/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

16.84 CNY

Average target price

16.7 CNY

Spread / Average Target

-0.82%

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