China Software Comps

(as of 18/10/19)
Ticker Company Share price (local) Market cap (US$MM) Firm value (US$MM) 2019E FV/Sales 2020E FV/Sales 2019E FV/EBITDA 2020E FV/EBITDA 2019E P/E 2020E P/E
China Software
002230.SZ 科大讯飞 34.67 10,587MM 10,633MM 6.8x 4.9x 49.4x 35.5x 88.0x 59.3x
600588.SH Yonyou Network Technology 用友网络科技 30.50 10,532MM 10,541MM 8.3x 6.8x - 41.7x 88.4x 68.0x
600570.SH Hundsun Technologies 恒生电子 72.45 8,082MM 8,019MM 14.1x 11.4x - 47.4x 61.3x 50.2x
002410.SZ Glodon 广联达科技 33.85 5,301MM 5,207MM 11.2x 9.3x - - 90.1x 66.6x
600845.SH Shanghai Baosight Software 上海宝信软件 35.15 4,526MM 4,042MM 4.3x 3.5x 24.8x 19.4x 45.8x 35.5x
002439.SZ Venustech 启明星辰信息技术集团 32.72 4,075MM 3,991MM 9.0x 7.2x 40.9x 33.1x 41.2x 33.8x
300253.SZ Winning Health 卫宁健康科技集团 16.67 3,761MM 3,754MM 14.0x 10.6x - 43.0x 65.0x 48.5x
0268.HK Kingdee International Software Group 金蝶国际软件集团 8.72 3,711MM 3,479MM 7.5x 6.2x 32.1x 29.7x 71.5x 58.9x
3888.HK Kingsoft 金山软件 18.76 3,302MM 2,491MM 2.2x 1.7x - 21.0x - 39.6x
300271.SZ 北京华宇软件 20.44 2,298MM 2,105MM 4.3x 3.4x 21.9x 17.9x 27.1x 21.7x
300166.SZ Orient National Communication 北京东方国信科技 12.67 1,859MM 1,836MM 5.3x 4.2x 17.4x 13.3x 20.6x 16.6x
603881.SH Shanghai Athub 上海数据港 35.02 1,024MM 1,161MM 7.6x 5.4x 19.6x 12.9x 45.7x 36.1x
0861.HK Digital China Holdings 神州数码控股 4.11 880MM 1,898MM 0.9x 0.7x 20.6x 15.3x 37.4x 17.9x
Mean 7.3x 5.8x 28.3x 27.5x 56.8x 42.5x
Median 7.5x 5.4x 23.4x 25.4x 53.5x 39.6x