Financials Jiangsu Chuanzhiboke Education Technology Co., LTD.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
10.18 ^CNY	-1.36%		+1.60%	-29.31%

Apr. 25	Jiangsu Chuanzhiboke Education Technology Co., LTD. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 15	Jiangsu Chuanzhiboke Education Technology Co., LTD. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,451	6,900	5,743	4,060	-	-
Enterprise Value (EV) ¹	7,677	6,023	4,975	2,881	2,694	4,060
P/E ratio	111 x	38.4 x	360 x	33.5 x	23.3 x	21.9 x
Yield	-	-	0.11%	0.2%	-	-
Capitalization / Revenue	12.7 x	8.6 x	10.7 x	6.37 x	5.13 x	4.99 x
EV / Revenue	11.6 x	7.5 x	9.31 x	4.52 x	3.4 x	4.99 x
EV / EBITDA	79.6 x	28.1 x	114 x	10.4 x	10.4 x	17.5 x
EV / FCF	41.6 x	22.2 x	-20.5 x	18.8 x	13.8 x	13.7 x
FCF Yield	2.41%	4.51%	-4.87%	5.31%	7.26%	7.29%
Price to Book	6.98 x	5.19 x	4.28 x	2.77 x	2.4 x	2.26 x
Nbr of stocks (in thousands)	402,448	399,790	398,789	398,789	-	-
Reference price ²	21.00	17.26	14.40	10.18	10.18	10.18
Announcement Date	4/14/22	4/17/23	4/15/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	639.6	663.9	802.8	534.5	636.9	792	813.4
EBITDA ¹	65.07	96.5	214	43.45	277	258	232
EBIT ¹	42.75	75.98	199.4	-3.637	122.4	174.8	185.7
Operating Margin	6.68%	11.44%	24.84%	-0.68%	19.22%	22.07%	22.83%
Earnings before Tax (EBT) ¹	63.95	80.08	208.8	10.7	138.1	182.5	204.2
Net income ¹	65.07	76.84	180.8	15.63	121.8	164.8	187
Net margin	10.17%	11.58%	22.52%	2.92%	19.12%	20.82%	22.99%
EPS ²	0.1800	0.1900	0.4500	0.0400	0.3040	0.4378	0.4650
Free Cash Flow ¹	-	184.6	271.7	-242.4	153	195.5	296
FCF margin	-	27.81%	33.85%	-45.36%	24.02%	24.69%	36.39%
FCF Conversion (EBITDA)	-	191.34%	127%	-	55.23%	75.78%	127.59%
FCF Conversion (Net income)	-	240.29%	150.3%	-	125.65%	118.59%	158.31%
Dividend per Share ²	-	-	-	0.0160	0.0200	-	-
Announcement Date	4/14/21	4/14/22	4/17/23	4/15/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-
Net Cash position ¹	-	774	878	768	1,178	1,366	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	185	272	-242	153	196	296
ROE (net income / shareholders' equity)	7.99%	6.66%	14.2%	1.16%	8.19%	10.5%	10.5%
ROA (Net income/ Total Assets)	5.83%	-	-	-	7.67%	8.27%	8.08%
Assets ¹	1,117	-	-	-	1,588	1,993	2,315
Book Value Per Share ²	2.350	3.010	3.330	3.370	3.670	4.230	4.510
Cash Flow per Share ²	0.0400	0.4700	0.6900	-0	0.5200	0.5900	0.5400
Capex ¹	13.5	6.15	4.16	242	37.7	37.7	6
Capex / Sales	2.11%	0.93%	0.52%	45.26%	5.91%	4.76%	0.74%
Announcement Date	4/14/21	4/14/22	4/17/23	4/15/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.18 CNY

Average target price

14.26 CNY

Spread / Average Target

+40.03%

	1st Jan change	Capi.
JIANGSU CHUANZHIBOKE EDUCATION TECHNOLOGY CO., LTD.	-29.31%	561M
IDP EDUCATION LIMITED	-18.12%	3.02B
NATIONAL COMPANY FOR LEARNING AND EDUCATION	+31.64%	1.78B
AFYA LIMITED	-18.06%	1.62B
SHANGHAI ACTION EDUCATION TECHNOLOGY CO.,LTD.	+36.47%	858M
UNIVERSAL TECHNICAL INSTITUTE, INC.	+24.68%	839M
PORTER HOLDING INTERNATIONAL, INC.	-.--%	813M
ATAA EDUCATIONAL COMPANY	0.00%	806M
NIIT LEARNING SYSTEMS LIMITED	+7.37%	764M
CHINA EAST EDUCATION HOLDINGS LIMITED	-6.72%	697M