Financials Alpha Group

Equities

002292

CNE100000FT4

Toys & Juvenile Products

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-30 pm EDT			5-day change	1st Jan Change
6.57 ^CNY	+2.02%		-0.15%	-24.91%

May. 29	Ocado Group, St. James's Place Bound for Exit from FTSE 100 Index	MT
May. 29	Darktrace, Vistry Group up for promotion to FTSE 100	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	13,477	8,265	9,360	6,891	12,939	9,715	-	-
Enterprise Value (EV) ¹	14,346	9,159	9,799	7,235	13,159	9,616	9,326	8,973
P/E ratio	110 x	-18.5 x	-21.1 x	-	-	-	-	-
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	4.94 x	3.49 x	3.54 x	2.59 x	4.72 x	3.19 x	2.95 x	2.78 x
EV / Revenue	5.26 x	3.87 x	3.71 x	2.72 x	4.8 x	3.15 x	2.83 x	2.56 x
EV / EBITDA	76.7 x	-26 x	-26 x	193 x	88.4 x	35.2 x	27.6 x	22.8 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.34 x	2.57 x	2.89 x	2.11 x	3.89 x	2.73 x	2.52 x	-
Nbr of stocks (in thousands)	1,357,160	1,357,160	1,478,700	1,478,700	1,478,700	1,478,700	-	-
Reference price ²	9.930	6.090	6.330	4.660	8.750	6.570	6.570	6.570
Announcement Date	1/22/20	4/5/21	4/29/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,727	2,368	2,644	2,657	2,739	3,049	3,297	3,499
EBITDA ¹	187.1	-352.4	-377.1	37.51	148.9	272.8	338.1	393.5
EBIT ¹	82.82	-467.3	-472	-190.7	86.13	219.3	288.1	345.1
Operating Margin	3.04%	-19.73%	-17.85%	-7.18%	3.14%	7.19%	8.74%	9.86%
Earnings before Tax (EBT)	104.5	-461.2	-458.3	-	-	-	-	-
Net income	120.1	-450.3	-417.1	-	-	-	-	-
Net margin	4.4%	-19.01%	-15.77%	-	-	-	-	-
EPS	0.0900	-0.3300	-0.3000	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	1/22/20	4/5/21	4/29/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 S1
Net sales	-
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income ¹	-26.78
Net margin	-
EPS ²	-0.0181
Dividend per Share	-
Announcement Date	8/30/22

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	869	894	439	344	221	-	-	-
Net Cash position ¹	-	-	-	-	-	99.3	389	742
Leverage (Debt/EBITDA)	4.645 x	-2.536 x	-1.164 x	9.182 x	1.481 x	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	3.01%	-12.3%	-13.7%	-5.37%	2.84%	6.06%	7.31%	8.03%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets	-	-	-	-	-	-	-	-
Book Value Per Share ²	2.970	2.370	2.190	2.210	2.250	2.410	2.610	-
Cash Flow per Share	0.2100	0.0900	-	-	-	-	-	-
Capex	72.1	79	90.7	-	-	-	-	-
Capex / Sales	2.64%	3.33%	3.43%	-	-	-	-	-
Announcement Date	1/22/20	4/5/21	4/29/22	4/28/23	4/29/24	-	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Alpha Group

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

SELL

Number of Analysts

Last Close Price

6.57 CNY

Average target price

3.6 CNY

Spread / Average Target

-45.21%

Consensus

Annual profits - Rate of surprise

Company calendar

Sector Other Toys & Juvenile Products

	1st Jan change	Capi.
ALPHA GROUP	-24.91%	1.34B
BANDAI NAMCO HOLDINGS INC.	+1.26%	11.91B
HASBRO, INC.	+17.12%	8.32B
MATTEL, INC.	-5.77%	6.12B
SPIN MASTER CORP.	-16.64%	2.21B
TONIES SE	+19.77%	753M
FUNKO, INC.	+16.95%	472M
DREAM INTERNATIONAL LIMITED	+24.87%	422M
BROGENT TECHNOLOGIES INC.	+10.53%	251M
JAKKS PACIFIC, INC.	-47.76%	201M

Other Toys & Juvenile Products