BAIOO Family Interactive (SEHK:2100) - Share price, News & Analysis

Q: What is the Fair Price of 2100 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

2100 (HK$0.64) is trading above our estimate of [[fair value]] (HK$0.35)

2100 fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	5/6
Past Performance	2/6
Financial Health	6/6
Dividends	2/6

2100 Stock Overview

BAIOO Family Interactive Limited, an investment holding company, primarily develops and operates an online entertainment destination for young teens in the People’s Republic of China.

Rewards

Earnings are forecast to grow 77.95% per year

Risk Analysis

Unstable dividend track record

Profit margins (3%) are lower than last year (24.3%)

BAIOO Family Interactive Competitors

Homeland Interactive Technology

SEHK:3798

HK$1.8b

Zengame Technology Holding

SEHK:2660

HK$1.6b

Fire Rock Holdings

SEHK:1909

HK$2.2b

FriendTimes

SEHK:6820

HK$2.5b

Price History & Performance

Summary of all time highs, changes and price drops for BAIOO Family Interactive
Historical stock prices
Current Share Price	HK$0.64
52 Week High	HK$1.67
52 Week Low	HK$0.40
Beta	0.25
1 Month Change	37.63%
3 Month Change	25.49%
1 Year Change	-61.45%
3 Year Change	48.84%
5 Year Change	-5.88%
Change since IPO	-63.84%

Shareholder Returns

	2100	HK Entertainment	HK Market
7D	0%	4.9%	2.1%
1Y	-61.4%	-40.0%	-23.3%

Return vs Industry: 2100 underperformed the Hong Kong Entertainment industry which returned -40% over the past year.

Return vs Market: 2100 underperformed the Hong Kong Market which returned -23.3% over the past year.

Price Volatility

Is 2100's price volatile compared to industry and market?
2100 volatility
2100 Average Weekly Movement	9.7%
Entertainment Industry Average Movement	9.7%
Market Average Movement	7.0%
10% most volatile stocks in HK Market	13.8%
10% least volatile stocks in HK Market	3.3%

Stable Share Price: 2100 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: 2100's weekly volatility (10%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2009	1,053	Jian Dai	https://www.baioo.com.hk

BAIOO Family Interactive Limited, an investment holding company, primarily develops and operates an online entertainment destination for young teens in the People’s Republic of China. It operates through Online Entertainment Business and Other Businesses segments. The company primarily offers games in various genres, including female-oriented games, and pet collection and raising games, as well as comic adapted nijigen games.

BAIOO Family Interactive Fundamentals Summary

How do BAIOO Family Interactive's earnings and revenue compare to its market cap?
2100 fundamental statistics
Market Cap	CN¥1.51b
Earnings (TTM)	CN¥26.44m
Revenue (TTM)	CN¥883.91m

57.2x

P/E Ratio

1.7x

P/S Ratio

Is 2100 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
2100 income statement (TTM)
Revenue	CN¥883.91m
Cost of Revenue	CN¥483.35m
Gross Profit	CN¥400.56m
Other Expenses	CN¥374.12m
Earnings	CN¥26.44m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.0095
Gross Margin	45.32%
Net Profit Margin	2.99%
Debt/Equity Ratio	0%

How did 2100 perform over the long term?

See historical performance and comparison

Dividends

2.9%

Current Dividend Yield

n/a

Payout Ratio

Does 2100 pay a reliable dividends?

See 2100 dividend history and benchmarks

When do you need to buy 2100 by to receive an upcoming dividend?
BAIOO Family Interactive dividend dates
Ex Dividend Date	Jul 04 2022
Dividend Pay Date	Jul 28 2022
Days until Ex dividend	6 days
Days until Dividend pay date	30 days

Does 2100 pay a reliable dividends?

See 2100 dividend history and benchmarks

We’ve recently updated our valuation analysis.

Valuation

Is 2100 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2100?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 2100. This is calculated by dividing 2100's market cap by their current preferred multiple.
What is 2100's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	CN¥1.51b

2100 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	0.05x
Enterprise Value/EBITDA	1x
PEG Ratio	0.7x

Price to Earnings Ratio vs Peers

How does 2100's PE Ratio compare to its peers?

2100 PE Ratio vs Peers

The above table shows the PE ratio for 2100 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	4.5x
3798 Homeland Interactive Technology	3x	n/a	HK$1.8b
2660 Zengame Technology Holding	2.6x	n/a	HK$1.6b
1909 Fire Rock Holdings	4.5x	n/a	HK$2.2b
6820 FriendTimes	7.8x	23.5%	HK$2.5b
2100 BAIOO Family Interactive	57.2x	78.0%	HK$1.8b

Forward PE

Price-To-Earnings vs Peers: 2100 is expensive based on its Price-To-Earnings Ratio (57.2x) compared to the peer average (4.5x).

Price to Earnings Ratio vs Industry

How does 2100's PE Ratio compare vs other companies in the HK Entertainment Industry?

Price-To-Earnings vs Industry: 2100 is expensive based on its Price-To-Earnings Ratio (57.2x) compared to the Hong Kong Entertainment industry average (9x)

Price to Earnings Ratio vs Fair Ratio

What is 2100's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2100 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	57.2x
Fair PE Ratio	27x

Price-To-Earnings vs Fair Ratio: 2100 is expensive based on its Price-To-Earnings Ratio (57.2x) compared to the estimated Fair Price-To-Earnings Ratio (27x).

Share Price vs Fair Value

What is the Fair Price of 2100 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2100 (HK$0.64) is trading above our estimate of fair value (HK$0.35)

Significantly Below Fair Value: 2100 is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: 2100 is good value based on its PEG Ratio (0.7x)

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Future Growth

How is BAIOO Family Interactive forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

5/6

Future Growth Score 5/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

78.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2100's forecast earnings growth (78% per year) is above the savings rate (1.5%).

Earnings vs Market: 2100's earnings (78% per year) are forecast to grow faster than the Hong Kong market (16.9% per year).

High Growth Earnings: 2100's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 2100's revenue (41.1% per year) is forecast to grow faster than the Hong Kong market (10.3% per year).

High Growth Revenue: 2100's revenue (41.1% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 2100's Return on Equity is forecast to be low in 3 years time (12.4%).

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Past Performance

How has BAIOO Family Interactive performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

25.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 2100 has high quality earnings.

Growing Profit Margin: 2100's current net profit margins (3%) are lower than last year (24.3%).

Past Earnings Growth Analysis

Earnings Trend: 2100's earnings have grown significantly by 25.9% per year over the past 5 years.

Accelerating Growth: 2100's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2100 had negative earnings growth (-90.4%) over the past year, making it difficult to compare to the Entertainment industry average (12.9%).

Return on Equity

High ROE: 2100's Return on Equity (1.6%) is considered low.

Discover strong past performing companies

Financial Health

How is BAIOO Family Interactive's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 2100's short term assets (CN¥1.6B) exceed its short term liabilities (CN¥248.4M).

Long Term Liabilities: 2100's short term assets (CN¥1.6B) exceed its long term liabilities (CN¥63.3M).

Debt to Equity History and Analysis

Debt Level: 2100 is debt free.

Reducing Debt: 2100 has no debt compared to 5 years ago when its debt to equity ratio was 17.5%.

Debt Coverage: 2100 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 2100 has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is BAIOO Family Interactive current dividend yield, its reliability and sustainability?

Dividend Score

1/6

Dividend Score 1/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

2.93%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: 2100's dividend (2.93%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.75%).

High Dividend: 2100's dividend (2.93%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.9%).

Stability and Growth of Payments

Stable Dividend: 2100 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 2100's dividend payments have increased, but the company has only paid a dividend for 6 years.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (48.4%), 2100's dividend payments are well covered by cash flows.

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Management

How experienced are the management team and are they aligned to shareholders interests?

6.6yrs

Average management tenure

CEO

Jian Dai (53 yo)

5.67yrs

Tenure

CN¥1,632,000

Compensation

Mr. Jian Dai is a Co-Founder of BAIOO Family Interactive Limited. Mr. Dai has been Chief Executive Officer of BAIOO Family Interactive Limited since October 15, 2016, Executive Chairman of the Board since...

CEO Compensation Analysis

Compensation vs Market: Jian's total compensation ($USD243.97K) is about average for companies of similar size in the Hong Kong market ($USD305.86K).

Compensation vs Earnings: Jian's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: 2100's management team is seasoned and experienced (6.6 years average tenure).

Board Members

Experienced Board: 2100's board of directors are considered experienced (9.4 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/06/27 00:00
End of Day Share Price	2022/06/27 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31