Jiangsu Chuanzhiboke Education Technology Valuation

Q: What is the Fair Price of 003032 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

003032 (CN¥11.78) is trading below our estimate of [[fair value]] (CN¥18.64)

Is 003032 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 003032 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 003032 (CN¥11.78) is trading below our estimate of fair value (CN¥18.64)

Significantly Below Fair Value: 003032 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 003032?

Key metric: As 003032 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 003032. This is calculated by dividing 003032's market cap by their current revenue.
What is 003032's PS Ratio?
PS Ratio	17.6x
Sales	CN¥269.45m
Market Cap	CN¥4.74b

003032 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	14.5x
Enterprise Value/EBITDA	-31.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 003032's PS Ratio compare to its peers?

The above table shows the PS ratio for 003032 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	12.4x
600636 China Reform Culture Holdings	15.2x	4.9%	CN¥4.5b
600661 Shanghai Xinnanyang Only Education & TechnologyLtd	2.8x	27.6%	CN¥3.4b
000526 Xueda (Xiamen) Education Technology Group	2x	20.0%	CN¥5.2b
600730 China Hi-Tech Group	29.6x	n/a	CN¥3.8b
003032 Jiangsu Chuanzhiboke Education Technology	17.6x	26.9%	CN¥4.7b

Price-To-Sales vs Peers: 003032 is expensive based on its Price-To-Sales Ratio (17.6x) compared to the peer average (12.4x).

Price to Sales Ratio vs Industry

How does 003032's PS Ratio compare vs other companies in the Asian Consumer Services Industry?

42 Companies	Price / Sales	Estimated Growth	Market Cap

42 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 003032 is expensive based on its Price-To-Sales Ratio (17.6x) compared to the Asian Consumer Services industry average (1.4x).

Price to Sales Ratio vs Fair Ratio

What is 003032's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

003032 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	17.6x
Fair PS Ratio	4.2x

Price-To-Sales vs Fair Ratio: 003032 is expensive based on its Price-To-Sales Ratio (17.6x) compared to the estimated Fair Price-To-Sales Ratio (4.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 003032 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CN¥11.78	CN¥10.43 -11.5%	19.9%	CN¥12.50	CN¥8.35	n/a	2
Nov ’25	CN¥10.47	CN¥10.85 +3.6%	16.6%	CN¥12.50	CN¥8.35	n/a	3
Oct ’25	CN¥10.46	CN¥10.85 +3.7%	16.6%	CN¥12.50	CN¥8.35	n/a	3
Sep ’25	CN¥8.39	CN¥10.85 +29.3%	16.6%	CN¥12.50	CN¥8.35	n/a	3
Aug ’25	CN¥8.86	CN¥12.01 +35.5%	2.9%	CN¥12.50	CN¥11.70	n/a	3
Jul ’25	CN¥9.79	CN¥12.01 +22.6%	2.9%	CN¥12.50	CN¥11.70	n/a	3
Jun ’25	CN¥9.56	CN¥14.26 +49.1%	17.9%	CN¥17.50	CN¥11.70	n/a	4
May ’25	CN¥10.18	CN¥14.26 +40.0%	17.9%	CN¥17.50	CN¥11.70	n/a	4
Apr ’25	CN¥11.85	CN¥15.55 +31.2%	14.3%	CN¥17.50	CN¥11.81	n/a	4
Mar ’25	CN¥12.15	CN¥15.55 +27.9%	14.3%	CN¥17.50	CN¥11.81	n/a	4
Feb ’25	CN¥10.76	CN¥15.55 +44.5%	14.3%	CN¥17.50	CN¥11.81	n/a	4
Jan ’25	CN¥14.40	CN¥15.55 +8.0%	14.3%	CN¥17.50	CN¥11.81	n/a	4
Dec ’24	CN¥16.20	CN¥15.55 -4.0%	14.3%	CN¥17.50	CN¥11.81	n/a	4
Nov ’24	CN¥13.45	CN¥16.55 +23.0%	18.0%	CN¥20.00	CN¥11.81	CN¥10.47	4
Oct ’24	CN¥12.91	CN¥18.39 +42.5%	16.0%	CN¥22.20	CN¥14.50	CN¥10.46	4
Sep ’24	CN¥12.64	CN¥19.51 +54.4%	15.4%	CN¥22.20	CN¥14.50	CN¥8.39	4
Aug ’24	CN¥14.23	CN¥20.70 +45.5%	5.5%	CN¥22.20	CN¥19.26	CN¥8.86	4
Jul ’24	CN¥14.57	CN¥20.49 +40.6%	6.1%	CN¥22.20	CN¥19.26	CN¥9.79	3
Jun ’24	CN¥14.73	CN¥22.50 +52.8%	14.2%	CN¥27.30	CN¥19.26	CN¥9.56	4
May ’24	CN¥14.68	CN¥22.50 +53.3%	14.2%	CN¥27.30	CN¥19.26	CN¥10.18	4
Apr ’24	CN¥18.07	CN¥22.94 +27.0%	12.2%	CN¥27.30	CN¥20.02	CN¥11.85	4
Mar ’24	CN¥18.57	CN¥22.94 +23.5%	12.2%	CN¥27.30	CN¥20.02	CN¥12.15	4
Feb ’24	CN¥19.39	CN¥23.92 +23.3%	10.8%	CN¥27.30	CN¥21.00	CN¥10.76	3
Jan ’24	CN¥17.26	CN¥25.38 +47.0%	7.6%	CN¥27.30	CN¥23.45	CN¥14.40	2
Dec ’23	CN¥17.32	CN¥25.38 +46.5%	7.6%	CN¥27.30	CN¥23.45	CN¥16.20	2

Analyst Forecast: Target price is lower than the current share price.