China Overseas Grand Oceans Group Limited (0081.HK)

Industry: Real Estate - Development Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
0817.HK	15	China Jinmao Holdi	15,060	-	-	16.23	18.08	27.66	24.29
601155.SS	16	Seazen Holdings Co	14,690	66.28	108.74	9.52	9.22	15.91	19.93
0884.HK	17	CIFI Holdings (Gro	14,276	-	-	21.42	23.16	-	26.33
002244.SZ	18	Hangzhou Binjiang	13,325	11.81	10.29	4.47	4.07	5.55	4.17
1113.HK	19	CK Asset Holdings	11,902	4.47	4.59	5.74	5.63	5.45	5.59
2772.HK	20	Zhongliang Holding	11,720	-	-	-	-	-	-
0119.HK	21	Poly Property Grou	11,646	4.43	4.76	5.31	4.86	5.97	4.91
0081.HK	22	China Overseas Gra	11,526	3.17	3.44	3.27	3.13	7.78	5.38
3383.HK	23	Agile Group Holdin	11,387	-	-	-	-	-	-
600325.SS	24	Zhuhai Huafa Prope	11,380	-	-	63.21	74.90	32.32	95.24
EMAAR.AE	25	Emaar Properties P	11,128	7.91	6.30	3.14	2.52	4.26	3.00
1966.HK	26	China SCE Group Ho	10,044	-	-	4.46	3.87	2.84	3.96
000961.SZ	27	Jiangsu Zhongnan C	9,542	-	-	-	-	-	-
2599.HK	28	Shinsun Holdings (	9,001	-	-	19.45	19.45	-	12.94
3301.HK	29	Ronshine China Hol	8,922	-	-	-	-	-	-
3380.HK	30	Logan Group Compan	8,512	-	-	-	-	-	-

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	6.19	5.53	5.74	5.63	5.50	5.59
Full Range Median Multiple	7.91	6.30	7.63	7.43	5.76	9.26
Industry Multiple	18.98	26.94	15.29	16.58	12.50	20.04
Market Implied Multiple	3.97	4.30	3.52	3.37	8.36	5.78
Company (0081.HK) Multiple	3.17	3.44	3.27	3.13	7.78	5.38
(*) Net Income / EBITDA / Revenue	234	216	760	794	320	463
Winsorized Enterprise Value	N/A	N/A	4,359	4,474	1,759	2,585
Full Range Median Enterprise Value	N/A	N/A	5,797	5,899	1,842	4,287
(-) Net Debt	1,744	1,744	1,744	1,744	1,744	1,744
Winsorized Equity Value	1,448	1,195	2,615	2,730	14	841
Full Range Median Equity Value	1,851	1,361	4,053	4,155	98	2,542
(/) Shares Outstanding	457	457	457	457	457	457
Winsorized Fair Value	$3.16	$2.61	$5.71	$5.97	$0.03	$1.84
Full Range Median Fair Value	$4.04	$2.97	$8.86	$9.08	$0.21	$5.56
Current Price	$2.03	$2.03	$2.03	$2.03	$2.03	$2.03
Upside / Downside	55.90%	28.64%	181.53%	193.90%	-98.47%	-9.44%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$2.22	$1.83	$4.00	$4.18	$0.02	$1.29
Buy / Don't Buy	BUY	Don’t Buy	BUY	BUY	Don’t Buy	Don’t Buy