$AOYUAN HEALTHY(03662)$With the newly revised annual caps, it means there is an agreement with China Aoyuan to raise the minimum revenue caps for Aoyuan Healthy. It is a promising sign that the actual revenue for FY2021-23 may see a revision upwards. Using FY2020 as a historical example- the FY2020 revised cap was published at 705000000 RMB and the actual came in at 1408089000 RMB, about double. Here are FY2021-23 revised annual caps and you can make a good estimate of what the future revenue would be :
FY2020 - 705000000 RMB
FY2021 - 1036620000 RMB (+47% YOY)
FY2022 - 1381890000 RMB (+33.3%)
FY2023 - 1842900000 RMB (+33.3%)
The revenue growth for FY2021 can be estimated to be 47%. With FY2020 EPS of $0.41, the estimate FY2021 EPS is $0.60. Assuming a Forward FY2021 PE of 15 (conservative, peers at 23-30) the target price is >$9.00. Highly recommended to buy even after it rose 15% today.
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