Jiangxi Rimag Group Valuation

Q: What is the Fair Price of 2522 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

2522 (HK$17.2) is trading below our estimate of [[fair value]] (HK$23.96)

Is 2522 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 2522 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow

Simply Wall St

HK$23.96

Fair Value

28.2% undervalued

Number of Analysts

Below Fair Value: 2522 (HK$17.2) is trading below our estimate of fair value (HK$23.96)

Significantly Below Fair Value: 2522 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2522?

Key metric: As 2522 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 2522. This is calculated by dividing 2522's market cap by their current revenue.
What is 2522's PS Ratio?
PS Ratio	7.6x
Sales	CN¥760.59m
Market Cap	CN¥5.70b

2522 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	7.9x
Enterprise Value/EBITDA	50.4x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 2522's PS Ratio compare to its peers?

The above table shows the PS ratio for 2522 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	1.9x
1951 Jinxin Fertility Group	2.6x	8.94%	HK$7.6b
9860 Adicon Holdings	1.6x	9.25%	HK$4.5b
2273 Gushengtang Holdings	2.7x	20.31%	HK$8.6b
3886 Town Health International Medical Group	0.9x	n/a	HK$1.6b
2522 Jiangxi Rimag Group	7.6x	21.49%	HK$6.2b

Price-To-Sales vs Peers: 2522 is expensive based on its Price-To-Sales Ratio (7.6x) compared to the peer average (1.9x).

Price to Sales Ratio vs Industry

How does 2522's PS Ratio compare vs other companies in the HK Healthcare Industry?

6 Companies	Price / Sales	Estimated Growth	Market Cap
1099 Sinopharm Group	0.09x	3.76%	US$7.40b
2289 Charmacy Pharmaceutical	0.2x	n/a	US$100.51m
9955 ClouDr Group	0.2x	n/a	US$88.66m
6833 Sinco Pharmaceuticals Holdings	0.1x	n/a	US$48.72m

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 2522 is expensive based on its Price-To-Sales Ratio (7.6x) compared to the Hong Kong Healthcare industry average (0.9x).

Price to Sales Ratio vs Fair Ratio

What is 2522'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.

2522 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	7.6x
Fair PS Ratio	2.7x

Price-To-Sales vs Fair Ratio: 2522 is expensive based on its Price-To-Sales Ratio (7.6x) compared to the estimated Fair Price-To-Sales Ratio (2.7x).

Analyst Price Targets

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

AnalystConsensusTarget

Consensus Narrative from 2 Analysts

HK$38.33

Fair Value

55.1% undervalued

Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/06/03 09:56
End of Day Share Price	2025/06/03 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Jiangxi Rimag Group Co., Ltd. is covered by 2 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Yu Wu	CMB International Securities Limited
Xibing Chen	Guosen Securities Co., Ltd.