Bright Real Estate GroupLimited Valuation

Is 600708 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 600708 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600708 (CN¥3.94) is trading above our estimate of fair value (CN¥0.01)

Significantly Below Fair Value: 600708 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600708?

Key metric: As 600708 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 600708. This is calculated by dividing 600708's market cap by their current revenue.
What is 600708's PS Ratio?
PS Ratio	1.5x
Sales	CN¥5.82b
Market Cap	CN¥8.78b

600708 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	6.7x
Enterprise Value/EBITDA	-212.4x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 600708's PS Ratio compare to its peers?

The above table shows the PS ratio for 600708 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	3.3x
600223 Lushang Freda PharmaceuticalLtd	1.7x	14.1%	CN¥6.9b
600239 Yunnan Metropolitan RealEstate DevelopmentLtd	2.3x	n/a	CN¥4.8b
002016 Guangdong Shirongzhaoye	6x	n/a	CN¥6.2b
000011 ShenZhen Properties & Resources Development (Group)	3x	n/a	CN¥5.1b
600708 Bright Real Estate GroupLimited	1.5x	n/a	CN¥8.8b

Price-To-Sales vs Peers: 600708 is good value based on its Price-To-Sales Ratio (1.5x) compared to the peer average (3.3x).

Price to Sales Ratio vs Industry

How does 600708's PS Ratio compare vs other companies in the CN Real Estate Industry?

32 Companies	Price / Sales	Estimated Growth	Market Cap
600048 Poly Developments and Holdings Group	0.3x	-2.6%	US$15.93b
000002 China Vanke	0.3x	-10.4%	US$12.96b
600606 Greenland Holdings	0.1x	-16.9%	US$4.34b
601155 Seazen Holdings	0.3x	-16.9%	US$4.05b

32 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 600708 is good value based on its Price-To-Sales Ratio (1.5x) compared to the CN Real Estate industry average (2.4x).

Price to Sales Ratio vs Fair Ratio

What is 600708'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.

600708 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.5x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 600708's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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