Shede Spirits Ratios and Metrics

Market cap in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 25, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	14,864	18,426	21,799	32,218	53,038	75,480
Market Cap Growth	-18.87%	-15.47%	-32.34%	-39.26%	-29.73%	165.58%
Enterprise Value	16,172	19,441	20,924	29,661	49,445	72,892
Last Close Price	45.24	56.08	65.41	93.35	152.07	216.23
PE Ratio	66.50	82.63	63.05	18.21	31.47	60.59
Forward PE	34.53	26.80	19.42	14.84	26.49	42.35
PS Ratio	3.36	4.17	4.07	4.55	8.76	15.19
PB Ratio	2.06	2.56	3.06	4.26	8.11	15.11
P/TBV Ratio	2.30	2.86	3.41	4.72	8.80	16.81
P/FCF Ratio	-	-	-	-	116.02	37.31
P/OCF Ratio	-	-	-	45.07	50.94	33.87
EV/Sales Ratio	3.66	4.40	3.91	4.18	8.16	14.67
EV/EBITDA Ratio	25.53	31.01	28.68	12.51	22.23	42.35
EV/EBIT Ratio	43.93	52.81	37.99	13.33	23.27	44.91
EV/FCF Ratio	-13.29	-	-	-	108.16	36.03
Debt / Equity Ratio	0.32	0.32	0.17	0.02	0.01	0.01
Debt / EBITDA Ratio	3.66	3.66	1.65	0.07	0.03	0.04
Debt / FCF Ratio	-	-	-	-	0.13	0.03
Net Debt / Equity Ratio	0.14	0.14	-0.05	-0.38	-0.57	-0.66
Net Debt / EBITDA Ratio	1.59	1.59	-0.44	-1.20	-1.66	-1.93
Net Debt / FCF Ratio	-0.82	-0.82	0.19	17.95	-8.09	-1.64
Asset Turnover	0.36	0.36	0.47	0.68	0.68	0.68
Inventory Turnover	0.30	0.30	0.38	0.45	0.42	0.41
Quick Ratio	0.41	0.41	0.52	1.06	1.32	1.25
Current Ratio	1.79	1.79	1.83	2.38	2.48	2.19
Return on Equity (ROE)	2.95%	2.95%	4.63%	25.11%	29.49%	28.95%
Return on Assets (ROA)	1.88%	1.88%	3.00%	13.29%	14.85%	13.95%
Return on Invested Capital (ROIC)	3.01%	3.27%	6.34%	44.79%	71.24%	53.73%
Return on Capital Employed (ROCE)	4.50%	4.50%	7.10%	28.80%	31.90%	31.90%
Earnings Yield	1.50%	1.21%	1.59%	5.49%	3.18%	1.65%
FCF Yield	-8.18%	-6.60%	-7.84%	-0.49%	0.86%	2.68%
Dividend Yield	0.96%	-	0.66%	2.30%	0.99%	0.37%
Payout Ratio	80.72%	80.72%	208.61%	28.37%	15.74%	7.13%
Buyback Yield / Dilution	0.26%	0.26%	0.81%	-0.05%	0.03%	0.51%
Total Shareholder Return	1.21%	0.26%	1.47%	2.26%	1.01%	0.88%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.