Financials Alibaba Pictures Group Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:20 2024-04-26 am EDT			5-day change	1st Jan Change
0.455 ^HKD	+2.25%		+9.64%	-5.21%

Apr. 16	Shanghai UOVAMETA Digital Technology Co., Ltd. ( announced that it has received funding from YUEHUA Entertainment Co., Ltd., Alibaba Pictures Group Limited, Beijing Yuanlong Yato Culture Dissemination Co.,Ltd. and other investors	CI
Mar. 20	Alibaba Group Holding's Unit CEO Steps Down, Successor Named	MT

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	37,014	26,822	27,103	17,534	13,758	13,417	-	-
Enterprise Value (EV) ²	33,105	23,067	22,764	13,590	9,653	9,589	8,851	7,518
P/E ratio	-119 x	-21 x	-236 x	82.2 x	-40.9 x	17.8 x	10.9 x	8.62 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	10.7 x	8.6 x	7.82 x	4.08 x	3.55 x	2.44 x	1.87 x	1.62 x
EV / Revenue	9.61 x	7.4 x	6.57 x	3.16 x	2.49 x	1.74 x	1.24 x	0.91 x
EV / EBITDA	-72.5 x	-24.8 x	160 x	20.9 x	-54 x	12.3 x	5.31 x	3.54 x
EV / FCF	-	-26.5 x	-	-22.8 x	15.5 x	79.1 x	8.38 x	5.38 x
FCF Yield	-	-3.78%	-	-4.38%	6.43%	1.26%	11.9%	18.6%
Price to Book	2.03 x	1.74 x	1.64 x	1 x	0.85 x	0.82 x	0.79 x	0.72 x
Nbr of stocks (in thousands)	26,628,823	26,822,015	26,834,946	26,975,740	26,975,740	29,488,769	-	-
Reference price ³	1.189	0.9135	0.8513	0.5263	0.4462	0.4212	0.4212	0.4212
Announcement Date	5/28/19	5/28/20	6/9/21	6/1/22	5/31/23	-	-	-

¹CNY in Million²HKD in Million³CNY

Estimates

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,447	3,119	3,466	4,295	3,876	5,502	7,166	8,275
EBITDA ¹	-456.4	-928.7	141.9	649.2	-178.9	778.2	1,667	2,125
EBIT ¹	-564.6	-1,065	-130.4	328.4	-243.3	678.4	1,569	1,997
Operating Margin	-16.38%	-34.13%	-3.76%	7.65%	-6.28%	12.33%	21.89%	24.14%
Earnings before Tax (EBT) ¹	-319.1	-1,233	-143	151.6	-307.6	660.3	1,612	2,012
Net income ¹	-288.1	-1,248	-116.8	199.8	-320.6	711.5	1,317	1,614
Net margin	-8.36%	-40.02%	-3.37%	4.65%	-8.27%	12.93%	18.38%	19.5%
EPS ²	-0.0100	-0.0435	-0.003600	0.006400	-0.0109	0.0237	0.0388	0.0489
Free Cash Flow ¹	-	-871.2	-	-595.4	620.8	121.2	1,056	1,398
FCF margin	-	-27.93%	-	-13.86%	16.02%	2.2%	14.73%	16.89%
FCF Conversion (EBITDA)	-	-	-	-	-	15.57%	63.34%	65.78%
FCF Conversion (Net income)	-	-	-	-	-	17.03%	80.16%	86.6%
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	5/28/19	5/28/20	6/9/21	6/1/22	5/31/23	-	-	-

¹HKD in Million²CNY

Estimates

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	3,909	3,756	4,339	3,945	4,104	3,829	4,566	5,899
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-871	-	-595	621	121	1,056	1,398
ROE (net income / shareholders' equity)	-1.76%	-8%	-0.7%	1.22%	-2.07%	5.34%	8.78%	9.64%
ROA (Net income/ Total Assets)	-	-7.09%	-0.61%	1.09%	-1.87%	4.74%	8.01%	8.87%
Assets ¹	-	17,611	19,027	18,298	17,149	15,016	16,452	18,193
Book Value Per Share ²	0.5800	0.5200	0.5200	0.5300	0.5300	0.5100	0.5400	0.5800
Cash Flow per Share ²	-	-	-	-	-	0.0100	0.0200	-
Capex ¹	-	12	-	17.8	10.4	70.4	70.4	108
Capex / Sales	-	0.38%	-	0.42%	0.27%	1.28%	0.98%	1.31%
Announcement Date	5/28/19	5/28/20	6/9/21	6/1/22	5/31/23	-	-	-

¹HKD in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.4212 CNY

Average target price

0.5843 CNY

Spread / Average Target

+38.74%

	1st Jan change	Capi.
ALIBABA PICTURES GROUP LIMITED	-5.21%	1.71B
ENDEAVOR GROUP HOLDINGS, INC.	+11.67%	8B
TOHO CO., LTD.	+10.09%	5.72B
MANGO EXCELLENT MEDIA CO., LTD.	-8.57%	5.95B
MADISON SQUARE GARDEN SPORTS CORP.	+2.72%	4.47B
FL ENTERTAINMENT N.V.	+8.88%	4.16B
BEIJING ENLIGHT MEDIA CO., LTD.	+13.50%	3.72B
CHINA FILM CO., LTD.	-1.63%	3.1B
CHINA RUYI HOLDINGS LIMITED	+7.51%	2.75B
ZHEJIANG HUACE FILM & TV CO., LTD.	+36.29%	2.07B