Jiashili Group Limited (1285.HK)

Industry: Packaged Foods 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
002696.SZ	219	Baiyang Investment	553	39.76	39.76	27.34	27.34	24.50	47.49
FREE	220	Whole Earth Brands	551	-	-	13.67	13.67	15.79	20.96
TIPI.PA	221	Tipiak S.A.	546	-	-	4.62	4.68	11.13	18.28
1837.HK	222	Natural Food Inter	511	5.06	5.06	1.10	1.10	2.00	1.39
ULTJ.JK	223	PT Ultrajaya Milk	509	11.03	10.98	6.56	6.49	6.48	7.07
0809.HK	224	Global Bio-chem Te	501	0.17	0.17	0.95	0.95	40.61	-
603317.SS	225	Sichuan Teway Food	499	20.95	19.63	16.64	15.18	12.38	15.34
1285.HK	226	Jiashili Group Lim	491	3.66	4.01	3.31	3.16	17.37	5.48
Q01.SI	227	QAF Limited	490	19.81	23.73	6.89	8.06	21.75	17.91
SHV.AX	228	Select Harvests Li	486	17.18	20.75	7.69	8.05	-	-
2831.T	229	Hagoromo Foods Cor	481	12.56	12.56	6.44	6.44	6.87	11.20
HERITGFOOD.BO	230	Heritage Foods Lim	479	25.91	25.91	13.97	6.57	20.21	11.14
NATR	231	Nature's Sunshine	475	18.14	18.46	4.59	4.39	5.36	7.97
600300.SS	232	V V Food & Beverag	475	13.29	12.48	8.25	8.83	7.07	6.29
5318.KL	233	DXN Holdings Bhd.	466	7.96	7.96	3.64	3.64	4.27	4.13
002330.SZ	234	Shandong Delisi Fo	465	-	-	547.62	948.03	-	-

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	12.92	12.52	6.56	6.49	7.07	9.56
Full Range Median Multiple	15.23	15.51	6.89	6.57	11.13	11.17
Industry Multiple	15.98	16.45	44.66	70.90	13.72	14.10
Market Implied Multiple	4.50	4.93	3.61	3.45	18.95	5.98
Company (1285.HK) Multiple	3.66	4.01	3.31	3.16	17.37	5.48
(*) Net Income / EBITDA / Revenue	14	13	40	42	8	24
Winsorized Enterprise Value	N/A	N/A	264	273	54	232
Full Range Median Enterprise Value	N/A	N/A	277	277	85	271
(-) Net Debt	80	80	80	80	80	80
Winsorized Equity Value	186	165	184	193	-26	152
Full Range Median Equity Value	219	204	196	196	5	191
(/) Shares Outstanding	59	59	59	59	59	59
Winsorized Fair Value	$3.16	$2.79	$3.12	$3.28	$-0.45	$2.57
Full Range Median Fair Value	$3.72	$3.46	$3.34	$3.33	$0.08	$3.24
Current Price	$1.10	$1.10	$1.10	$1.10	$1.10	$1.10
Upside / Downside	187.05%	153.99%	183.28%	197.75%	-140.51%	134.06%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$2.21	$1.96	$2.18	$2.29	$-0.31	$1.80
Buy / Don't Buy	BUY	BUY	BUY	BUY	Don’t Buy	BUY