Company Valuation: Red Star Macalline Group Corporation Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 29,800 34,087 18,581 15,433 12,836 10,566
Change - 14.39% -45.49% -16.94% -16.83% -17.68%
Enterprise Value (EV) 1 74,100 70,939 53,259 50,559 40,694 40,922
Change - -4.27% -24.92% -5.07% -19.51% 0.56%
P/E 9.01x 5.96x 14.2x -3.54x -2.42x -0.2x
PBR 0.33x 0.25x 0.18x 0.16x 0.16x 0.21x
PEG - 0.4x -0.2x 0x -0.1x -0x
Capitalization / Revenue 2.09x 2.2x 1.32x 1.33x 1.64x 1.61x
EV / Revenue 5.2x 4.57x 3.77x 4.36x 5.2x 6.22x
EV / EBITDA 15.3x 14.9x 10.1x 18.5x 35x 44.8x
EV / EBIT 15.9x 15.5x 10.7x 20.6x 39.5x 50.3x
EV / FCF -17.5x -789x 62.3x -41.4x 5.71x 102x
FCF Yield -5.72% -0.13% 1.6% -2.41% 17.5% 0.98%
Dividend per Share 2 - 0.1 0.034 - - -
Rate of return - 3.29% 1.54% - - -
EPS 2 0.44 0.51 0.1558 -0.554 -0.69 -5.45
Distribution rate - 19.6% 21.8% - - -
Net sales 1 14,236 15,513 14,112 11,593 7,821 6,582
EBITDA 1 4,828 4,755 5,290 2,730 1,162 913.1
EBIT 1 4,666 4,585 4,970 2,450 1,031 813.9
Net income 1 1,731 2,047 678.6 -2,413 -2,983 -23,722
Net Debt 1 44,300 36,852 34,678 35,125 27,858 30,355
Reference price 2 3.9660 3.0387 2.2114 1.9607 1.6727 1.0963
Nbr of stocks (in thousands) 3,905,000 4,354,733 4,353,688 4,353,688 4,353,688 4,353,688
Announcement Date 3/30/21 A 3/30/22 A 4/28/23 A 4/29/24 A 3/27/25 A 3/30/26 A
1CNY in Million2CNY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 1.27B
21.24x2.11x14.11x3.06% 308B
16.52x1.57x11.23x2.51% 110B
11.76x0.51x4.88x4.33% 6.42B
18.61x2.29x8.97x6.22% 3B
19.23x1.94x11.55x2.81% 2.84B
13.26x1.45x8.18x6.14% 2.41B
13.7x - - - 2.09B
9.1x0.4x5x2.97% 1.56B
Average 15.43x 1.47x 9.13x 4.01% 48.67B
Weighted average by Cap. 19.75x 1.94x 13.13x 2.97%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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