Stock 867 CHINA MEDICAL SYSTEM HOLDINGS LIMITED
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Financials China Medical System Holdings Limited

Equities

867

KYG211081248

Pharmaceuticals

Market Closed - Hong Kong S.E.
Other stock markets
 04:08:20 2024-04-26 am EDT 		5-day change 1st Jan Change
7.2 HKD +1.84% Intraday chart for China Medical System Holdings Limited +2.86% -47.98%
Apr. 23 China Medical System's Anti-Anaemia NDA Accepted in China MT
Apr. 23 China Medical System Holdings Limited Announces New Drug Application of Desidustat Tablets Accepted in China CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 24,871 18,009 26,071 26,593 30,844 16,259 - -
Enterprise Value (EV) 1 24,200 15,927 24,362 24,000 27,803 12,920 12,469 11,317
P/E ratio 12.7 x 7.12 x 8.68 x 8.17 x 12.8 x 9.3 x 8.06 x 5.86 x
Yield 3.15% 5.68% 4.63% 4.93% 3.11% 4.69% 5.1% 6.99%
Capitalization / Revenue 4.09 x 2.59 x 3.13 x 2.91 x 3.85 x 2.04 x 1.77 x 1.49 x
EV / Revenue 3.98 x 2.29 x 2.92 x 2.62 x 3.47 x 1.62 x 1.35 x 1.04 x
EV / EBITDA 9.45 x 5.36 x 7.23 x 6.35 x 9.34 x 5.88 x 4.81 x 3.13 x
EV / FCF 9.61 x 6.78 x 10.6 x 7.93 x 12.7 x 6.5 x 6.12 x 4.1 x
FCF Yield 10.4% 14.8% 9.48% 12.6% 7.86% 15.4% 16.3% 24.4%
Price to Book 2.63 x 1.63 x 2.04 x 1.82 x 1.99 x 1.01 x 0.93 x 0.86 x
Nbr of stocks (in thousands) 2,480,409 2,470,761 2,457,444 2,451,989 2,451,989 2,439,529 - -
Reference price 2 10.03 7.289 10.61 10.85 12.58 6.665 6.665 6.665
Announcement Date 3/31/20 3/16/21 3/15/22 3/16/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 6,074 6,946 8,337 9,150 8,013 7,982 9,203 10,891
EBITDA 1 2,560 2,972 3,371 3,780 2,976 2,199 2,592 3,615
EBIT 1 2,356 2,763 3,151 3,552 2,746 2,012 2,386 3,434
Operating Margin 38.79% 39.78% 37.79% 38.82% 34.27% 25.2% 25.93% 31.53%
Earnings before Tax (EBT) 1 2,488 2,816 3,457 3,763 2,874 2,125 2,415 3,360
Net income 1 1,956 2,530 3,017 3,259 2,401 1,773 2,046 2,698
Net margin 32.2% 36.43% 36.19% 35.62% 29.96% 22.22% 22.23% 24.77%
EPS 2 0.7905 1.024 1.223 1.328 0.9792 0.7165 0.8268 1.137
Free Cash Flow 1 2,518 2,351 2,309 3,028 2,185 1,986 2,036 2,761
FCF margin 41.45% 33.84% 27.7% 33.1% 27.27% 24.89% 22.12% 25.35%
FCF Conversion (EBITDA) 98.35% 79.1% 68.5% 80.12% 73.43% 90.33% 78.55% 76.37%
FCF Conversion (Net income) 128.73% 92.89% 76.52% 92.92% 91% 112.01% 99.53% 102.35%
Dividend per Share 2 0.3154 0.4138 0.4910 0.5344 0.3917 0.3125 0.3398 0.4656
Announcement Date 3/31/20 3/16/21 3/15/22 3/16/23 3/27/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 3,109 3,108 3,838 3,843 4,494 4,448 4,703 4,610 3,403 3,807 4,166 4,566 4,631
EBITDA - - - - - - - - - - - - -
EBIT 1 - - - 1,634 1,517 1,822 1,730 1,873 873.5 1,093 1,126 1,281 1,348
Operating Margin - - - 42.52% 33.76% 40.97% 36.79% 40.62% 25.67% 28.71% 27.04% 28.06% 29.1%
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - -
EPS - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 3/31/20 8/12/20 3/16/21 8/23/21 3/15/22 8/22/22 3/16/23 9/12/23 3/27/24 - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 671 2,081 1,708 2,593 3,041 3,339 3,790 4,942
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 2,518 2,351 2,309 3,028 2,185 1,986 2,036 2,761
ROE (net income / shareholders' equity) 21.9% 24.7% 25.4% 23.8% 15.9% 11.1% 12.2% 16%
ROA (Net income/ Total Assets) 18% 21.2% 21.2% 19.4% 13.5% 9.42% 10.3% 12.7%
Assets 1 10,839 11,936 14,255 16,781 17,742 18,817 19,816 21,168
Book Value Per Share 2 3.820 4.460 5.190 5.950 6.330 6.620 7.130 7.770
Cash Flow per Share 2 1.030 1.090 1.010 1.450 1.020 0.6900 0.7100 1.070
Capex 1 340 341 185 525 318 630 687 774
Capex / Sales 5.61% 4.92% 2.22% 5.74% 3.97% 7.9% 7.46% 7.11%
Announcement Date 3/31/20 3/16/21 3/15/22 3/16/23 3/27/24 - - -
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 China Medical System Holdings Limited

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
6.665 CNY
Average target price
10.08 CNY
Spread / Average Target
+51.30%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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