The Discounted Cash Flow (DCF) valuation of Shanghai Jiao Yun Group Co Ltd (600676.SS) is 5.48 CNY. With the latest stock price at 4.95 CNY, the upside of Shanghai Jiao Yun Group Co Ltd based on DCF is 10.8%.

Is 600676.SS a buy or a sell?

Based on the latest price of 4.95 CNY and our DCF valuation, Shanghai Jiao Yun Group Co Ltd (600676.SS) is a buy. Buying 600676.SS stocks now will result in a potential gain of 10.8%.

	Range	Selected
WACC / Discount Rate	9.0% - 11.1%	10.0%
Long-term Growth Rate	2.0% - 4.0%	3.0%
Fair Price	4.64 - 7.02	5.48
Upside	-6.2% - 41.8%	10.8%

4.95 CNY

Stock Price

5.48 CNY

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

600676.SS DCF Valuation: Revenue & Expenses Forecast

(CNY in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	4,437	4,556	4,648	4,741	4,869	4,966
% Growth	15%	3%	2%	2%	3%	2%

Cost of goods sold	(4,346)	(4,240)	(4,109)	(3,981)	(3,884)	(3,764)
% of Revenue	98%	93%	88%	84%	80%	76%

Selling, G&A expenses	(411)	(422)	(430)	(439)	(451)	(460)
% of Revenue	9%	9%	9%	9%	9%	9%

Research & Development	(46)	(48)	(48)	(49)	(51)	(52)
% of Revenue	1%	1%	1%	1%	1%	1%

Net interest & other expenses	(19)	(20)	(20)	(21)	(21)	(22)
% of Revenue	0%	0%	0%	0%	0%	0%

Tax expense	(7)	43	(10)	(63)	(115)	(167)
Tax rate	2%	25%	25%	25%	25%	25%

Net profit	(393)	(130)	30	188	346	502
% Margin	-9%	-3%	1%	4%	7%	10%