Company Valuation: China Resources Pharmaceutical Group Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,303 39,705 32,229 35,810 27,957 27,329 - -
Change - 78.03% -18.83% 11.11% -21.93% -2.25% - -
Enterprise Value (EV) 1 61,337 73,426 71,468 90,725 90,801 76,564 69,857 57,550
Change - 19.71% -2.67% 26.95% 0.08% -15.68% -8.76% -17.62%
P/E 5.92x 9.58x 7.76x 10x 6.12x 5.58x 5.24x 5x
PBR 0.44x 0.8x 0.32x 0.34x 0.48x 0.42x 0.39x 0.35x
PEG - 1x 44.15x -0.7x 0.2x 0.77x 0.8x 1.02x
Capitalization / Revenue 0.09x 0.16x 0.12x 0.13x 0.09x 0.08x 0.08x 0.08x
EV / Revenue 0.26x 0.29x 0.27x 0.33x 0.3x 0.23x 0.21x 0.16x
EV / EBITDA 4.83x 4.38x 4.65x 5.47x 4.73x 3.81x 3.26x 2.78x
EV / EBIT 6.22x 5.39x 5.98x 6.98x 6.23x 4.75x 4.02x 3.28x
EV / FCF 5.88x 7.47x 5.49x 5.73x 4.37x -28.2x 9.52x 6.38x
FCF Yield 17% 13.4% 18.2% 17.5% 22.9% -3.55% 10.5% 15.7%
Dividend per Share 2 0.15 0.16 0.1669 0.1445 0.2203 0.2035 0.2202 0.218
Rate of return 4.23% 2.53% 3.25% 2.54% 4.95% 4.68% 5.06% 5.01%
EPS 2 0.6 0.66 0.6612 0.5677 0.7268 0.7792 0.83 0.8706
Distribution rate 25% 24.2% 25.2% 25.5% 30.3% 26.1% 26.5% 25%
Net sales 1 236,806 254,106 265,229 275,999 306,131 327,766 340,287 351,655
EBITDA 1 12,690 16,775 15,382 16,601 19,202 20,083 21,457 20,701
EBIT 1 9,868 13,623 11,952 13,005 14,567 16,129 17,398 17,536
Net income 1 3,769 4,147 4,178 3,589 4,594 4,817 5,171 5,365
Net Debt 1 39,035 33,720 39,238 54,915 62,844 49,235 42,528 30,221
Reference price 2 3.550 6.320 5.130 5.700 4.450 4.350 4.350 4.350
Nbr of stocks (in thousands) 6,282,510 6,282,510 6,282,510 6,282,510 6,282,510 6,282,510 - -
Announcement Date 29/03/22 30/03/23 26/03/24 26/03/25 24/03/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
5.58x0.23x3.81x4.68% 3.48B
32.78x11.92x24.16x0.6% 1,028B
30.03x6.68x18.7x1.99% 651B
33.38x7.81x16.15x2.6% 466B
19.33x4.72x11.71x2.81% 346B
19.72x5.16x12.79x3.11% 266B
21.26x4.42x12.58x1.99% 259B
24.43x6.42x11.43x2.62% 208B
12.52x4.56x9.46x4.01% 191B
-45.4x6.61x25.81x2.19% 186B
Average 15.36x 5.85x 14.66x 2.66% 360.52B
Weighted average by Cap. 23.66x 7.72x 17.82x 1.99%

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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