Financials Zhejiang Starry Pharmaceutical Co.,Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-05 pm EDT			5-day change	1st Jan Change
12.94 ^CNY	+2.94%		+4.52%	-8.10%

Apr. 29	Zhejiang Starry Pharmaceutical Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 29	Zhejiang Starry Pharmaceutical Co.,Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,125	16,099	15,886	6,694	4,823	4,408	-	-
Enterprise Value (EV) ¹	7,125	16,099	15,886	6,694	4,823	4,408	4,408	4,408
P/E ratio	42.1 x	65.8 x	49.2 x	-89 x	108 x	22.7 x	11.6 x	7.35 x
Yield	-	0.76%	0.77%	1.02%	-	1.93%	2.7%	-
Capitalization / Revenue	5.44 x	11.8 x	7.94 x	3.14 x	2.2 x	1.59 x	1.32 x	1.07 x
EV / Revenue	5.44 x	11.8 x	7.94 x	3.14 x	2.2 x	1.59 x	1.32 x	1.07 x
EV / EBITDA	20.8 x	38.1 x	28.4 x	59.1 x	20.6 x	7.68 x	6.14 x	4.53 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	7.17 x	8.84 x	7.32 x	3.8 x	2.75 x	2.01 x	1.7 x	1.25 x
Nbr of stocks (in thousands)	328,583	342,369	342,150	342,040	342,515	342,515	-	-
Reference price ²	21.68	47.02	46.43	19.57	14.08	12.94	12.94	12.94
Announcement Date	3/30/20	4/27/21	4/25/22	4/17/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,309	1,367	2,000	2,131	2,196	2,774	3,341	4,128
EBITDA ¹	342.4	423	558.9	113.2	233.6	573.9	718.1	973.6
EBIT ¹	230.3	293.9	399.8	-55.79	49.19	199.9	396.2	620
Operating Margin	17.6%	21.5%	19.99%	-2.62%	2.24%	7.21%	11.86%	15.02%
Earnings before Tax (EBT) ¹	221.9	303.7	395.4	-65.4	45.35	195.1	390.3	615
Net income ¹	170.3	238.7	323.8	-75.85	44.23	195.1	382.3	601.7
Net margin	13.01%	17.46%	16.19%	-3.56%	2.01%	7.03%	11.44%	14.58%
EPS ²	0.5153	0.7143	0.9429	-0.2200	0.1300	0.5700	1.116	1.760
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	0.3571	0.3571	0.2000	-	0.2500	0.3500	-
Announcement Date	3/30/20	4/27/21	4/25/22	4/17/23	4/29/24	-	-	-

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)	18%	17.7%	16%	-3.81%	2.53%	7.99%	15.1%	17.4%
ROA (Net income/ Total Assets)	-	6.05%	6.96%	-1.49%	-	5%	-	-
Assets ¹	-	3,945	4,651	5,097	-	3,902	-	-
Book Value Per Share ²	3.030	5.320	6.340	5.150	5.120	6.430	7.590	10.30
Cash Flow per Share ²	0.7500	0.5100	1.480	-0.2300	0.1300	1.650	1.480	2.300
Capex ¹	132	139	297	471	247	338	429	477
Capex / Sales	10.08%	10.18%	14.83%	22.08%	11.26%	12.19%	12.85%	11.55%
Announcement Date	3/30/20	4/27/21	4/25/22	4/17/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12.94 CNY

Average target price

17.54 CNY

Spread / Average Target

+35.55%

	1st Jan change	Capi.
ZHEJIANG STARRY PHARMACEUTICAL CO.,LTD.	-8.10%	615M
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ABBVIE INC.	+5.00%	287B
ASTRAZENECA PLC	+14.36%	235B
NOVARTIS AG	+5.77%	199B
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AMGEN INC.	+4.94%	161B