Financials Alpha Group

Equities

002292

CNE100000FT4

Toys & Juvenile Products

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
6.57 ^CNY	+3.30%		+5.80%	-24.91%

Apr. 17	EARNINGS AND TRADING: Chill Brands shareholder seeks board ejections	AN
Apr. 03	Alpha Group says intends to switch to London's Main Market from AIM	AN

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	7,682	13,477	8,265	9,360	6,891	9,715	9,715	-
Enterprise Value (EV) ¹	8,872	14,346	9,159	9,799	7,235	9,960	9,830	9,595
P/E ratio	-4.72 x	110 x	-18.5 x	-21.1 x	-	-	-	-
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	2.7 x	4.94 x	3.49 x	3.54 x	2.59 x	3.16 x	2.84 x	2.63 x
EV / Revenue	3.12 x	5.26 x	3.87 x	3.71 x	2.72 x	3.24 x	2.88 x	2.59 x
EV / EBITDA	-5.27 x	76.7 x	-26 x	-26 x	193 x	52.7 x	28.4 x	21.9 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.96 x	3.34 x	2.57 x	2.89 x	2.11 x	2.86 x	2.66 x	2.44 x
Nbr of stocks (in thousands)	1,357,160	1,357,160	1,357,160	1,478,700	1,478,700	1,478,700	1,478,700	-
Reference price ²	5.660	9.930	6.090	6.330	4.660	6.570	6.570	6.570
Announcement Date	1/30/19	1/22/20	4/5/21	4/29/22	4/28/23	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	2,840	2,727	2,368	2,644	2,657	3,070	3,415	3,700
EBITDA ¹	-1,685	187.1	-352.4	-377.1	37.51	189.2	345.8	437.6
EBIT ¹	-1,772	82.82	-467.3	-472	-190.7	127.1	269.1	347.1
Operating Margin	-62.41%	3.04%	-19.73%	-17.85%	-7.18%	4.14%	7.88%	9.38%
Earnings before Tax (EBT)	-1,774	104.5	-461.2	-458.3	-	-	-	-
Net income	-1,630	120.1	-450.3	-417.1	-	-	-	-
Net margin	-57.41%	4.4%	-19.01%	-15.77%	-	-	-	-
EPS	-1.200	0.0900	-0.3300	-0.3000	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	1/30/19	1/22/20	4/5/21	4/29/22	4/28/23	-	-	-

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	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	1,191	869	894	439	344	245	115	-
Net Cash position ¹	-	-	-	-	-	-	-	120
Leverage (Debt/EBITDA)	-0.7068 x	4.645 x	-2.536 x	-1.164 x	9.182 x	1.293 x	0.3325 x	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-37.3%	3.01%	-12.3%	-13.7%	-5.37%	3.13%	6.46%	7.79%
ROA (Net income/ Total Assets)	-21.4%	-	-	-	-	-	-	-
Assets	7,621	-	-	-	-	-	-	-
Book Value Per Share ²	2.890	2.970	2.370	2.190	2.210	2.300	2.470	2.690
Cash Flow per Share	0.0500	0.2100	0.0900	-	-	-	-	-
Capex	66.7	72.1	79	90.7	-	-	-	-
Capex / Sales	2.35%	2.64%	3.33%	3.43%	-	-	-	-
Announcement Date	1/30/19	1/22/20	4/5/21	4/29/22	4/28/23	-	-	-

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

3.2 CNY

Spread / Average Target

-51.29%

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.	+3.63%	12.28B
MATTEL, INC.	-2.75%	6.32B
GAMES WORKSHOP GROUP PLC	-2.74%	3.94B
SPIN MASTER CORP.	-13.08%	2.3B
TONIES SE	-0.59%	615M
DREAM INTERNATIONAL LIMITED	+20.26%	406M
FUNKO, INC.	-19.79%	318M
BROGENT TECHNOLOGIES INC.	+8.33%	245M
JAKKS PACIFIC, INC.	-46.33%	206M

Other Toys & Juvenile Products