Company Valuation: Songcheng Performance Development Co.,Ltd

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 37,442 38,175 25,860 24,365 21,496 14,662 - -
Change - 1.96% -32.26% -5.78% -11.77% -31.79% - -
Enterprise Value (EV) 1 35,891 36,144 23,119 21,549 18,651 11,466 10,925 10,360
Change - 0.71% -36.04% -6.79% -13.45% -38.53% -4.71% -5.17%
P/E 119x 3,946x -235x 23.2x 26.3x 18x 15.6x 14.8x
PBR 4.9x 5.06x 3.57x 3x 2.55x 1.69x 1.61x 1.51x
PEG - -40.7x 0x -0x -1.2x 80.23x 1x 2.59x
Capitalization / Revenue 31.6x 83.4x 13.4x 10.1x 9.52x 6.88x 6.24x 5.89x
EV / Revenue 30.3x 78.9x 12x 8.91x 8.26x 5.38x 4.65x 4.16x
EV / EBITDA 49.5x 103x 52.2x 12.6x 13x 8.45x 7.25x 6.54x
EV / EBIT 96.4x -4,637x 250x 16.3x 17.3x 10.5x 8.72x 7.65x
EV / FCF 548x 411x 22.6x 19.3x 14.6x 14.9x 13.7x 10.8x
FCF Yield 0.18% 0.24% 4.43% 5.19% 6.86% 6.71% 7.29% 9.27%
Dividend per Share 2 0.05 0.05 0.1 0.2 0.25 0.2048 0.242 0.238
Rate of return 0.35% 0.34% 1.01% 2.15% 3.05% 3.64% 4.31% 4.24%
EPS 2 0.1205 0.0037 -0.042 0.4009 0.312 0.3127 0.36 0.3806
Distribution rate 41.5% 1,351% -238% 49.9% 80.1% 65.5% 67.2% 62.5%
Net sales 1 1,185 457.8 1,926 2,417 2,258 2,131 2,351 2,488
EBITDA 1 724.6 350.9 442.8 1,704 1,436 1,357 1,507 1,584
EBIT 1 372.5 -7.794 92.46 1,325 1,079 1,096 1,252 1,354
Net income 1 315.1 9.658 -109.9 1,049 817.7 807.1 918.4 998.2
Net Debt 1 -1,552 -2,031 -2,742 -2,816 -2,845 -3,196 -3,736 -4,302
Reference price 2 14.320 14.600 9.870 9.290 8.190 5.620 5.620 5.620
Nbr of stocks (in thousands) 2,614,694 2,614,694 2,620,094 2,622,670 2,624,680 2,608,875 - -
Announcement Date 4/22/22 4/27/23 4/25/24 4/24/25 4/23/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.88x5.34x8.39x3.66% 2.17B
-337.46x1.47x15.5x-.--% 39.86B
20.79x2.24x10.74x3.73% 30.01B
51.84x3.57x26.38x-.--% 22.58B
19.32x2.5x10.47x2.8% 14.45B
38.16x2.93x7.44x1.76% 12.98B
36.68x2.22x18.69x2.36% 11.78B
60.77x0.87x6.79x2.01% 11.21B
-363.99x9.28x-970.3x-.--% 9.97B
26.29x3.14x13.54x1.4% 8.19B
Average -42.97x 3.36x -85.24x 1.77% 16.32B
Weighted average by Cap. -80.52x 2.74x -45.71x 1.5%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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