Financials Nanjing King-Friend Biochemical Pharmaceutical Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-06-03 pm EDT			5-day change	1st Jan Change
12.85 ^CNY	+2.88%		-3.82%	-14.33%

Jun. 03	US FDA Approves Additional Production Site for King-Friend Biochemical Pharma's Melanoma, Hodgkin's Disease Drug	MT
May. 28	Hybio Pharmaceutical Gets Nod to Market Ganirelix Acetate Injection	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	29,701	32,706	52,058	29,075	24,169	20,705	-	-
Enterprise Value (EV) ¹	29,701	32,706	52,058	29,075	24,169	20,705	20,705	20,705
P/E ratio	49.4 x	40.4 x	47.7 x	26.9 x	-125 x	22.5 x	14.6 x	12.6 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	12 x	11.2 x	14.1 x	7.83 x	6.15 x	4.72 x	3.58 x	3.04 x
EV / Revenue	12 x	11.2 x	14.1 x	7.83 x	6.15 x	4.72 x	3.58 x	3.04 x
EV / EBITDA	41.7 x	32 x	40.8 x	22.1 x	22.7 x	16.5 x	11.4 x	9.86 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	10 x	9.2 x	9.8 x	4.77 x	4.22 x	3.14 x	2.43 x	2.09 x
Nbr of stocks (in thousands)	1,573,132	1,573,368	1,611,324	1,611,717	1,611,291	1,611,291	-	-
Reference price ²	18.88	20.79	32.31	18.04	15.00	12.85	12.85	12.85
Announcement Date	4/29/20	4/26/21	4/26/22	4/27/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,470	2,915	3,687	3,713	3,931	4,388	5,779	6,802
EBITDA ¹	712.6	1,021	1,275	1,313	1,062	1,254	1,812	2,100
EBIT ¹	667.6	877	1,182	1,174	-294.7	1,039	1,592	1,859
Operating Margin	27.03%	30.09%	32.06%	31.61%	-7.5%	23.68%	27.54%	27.32%
Earnings before Tax (EBT) ¹	680.4	914.6	1,204	1,185	-294.8	1,041	1,597	1,860
Net income ¹	605	806.1	1,059	1,091	-189.4	922.9	1,414	1,643
Net margin	24.5%	27.66%	28.73%	29.38%	-4.82%	21.03%	24.47%	24.16%
EPS ²	0.3823	0.5148	0.6769	0.6700	-0.1200	0.5700	0.8775	1.020
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	4/29/20	4/26/21	4/26/22	4/27/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	22.5%	24.5%	25.3%	18.8%	-3.17%	14%	16.5%	16.7%
ROA (Net income/ Total Assets)	-	-	-	-	-1.94%	9%	10.8%	12.4%
Assets ¹	-	-	-	-	9,767	10,254	13,096	13,254
Book Value Per Share ²	1.880	2.260	3.300	3.790	3.560	4.090	5.280	6.150
Cash Flow per Share ²	-0.5300	-0.3600	0.4200	0.3700	1.000	0.5800	0.3000	0.4400
Capex ¹	115	294	440	470	419	350	410	451
Capex / Sales	4.66%	10.09%	11.94%	12.66%	10.66%	7.97%	7.1%	6.63%
Announcement Date	4/29/20	4/26/21	4/26/22	4/27/23	4/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12.85 CNY

Average target price

15.82 CNY

Spread / Average Target

+23.07%

	1st Jan change	Capi.
NANJING KING-FRIEND BIOCHEMICAL PHARMACEUTICAL CO.,LTD.	-14.33%	2.86B
ELI LILLY AND COMPANY	+42.83%	750B
NOVO NORDISK A/S	+34.11%	606B
JOHNSON & JOHNSON	-5.70%	356B
MERCK & CO., INC.	+18.06%	326B
ABBVIE INC.	+4.63%	286B
ASTRAZENECA PLC	+17.81%	246B
NOVARTIS AG	+10.80%	213B
ROCHE HOLDING AG	-2.99%	213B
PFIZER, INC.	+2.43%	167B