Epstein Secrets

ified by DSI. Some of the foreign securities stated on this report are not disclosed according to the Financial Instruments and Exchange Law of Malaysia: Deutsche Bank AG and/or its affiliate(s) may maintain positions in the securities referred to herein and may from time to time offer those securit

USDm 190,720 Weighted average shares (m) Average market cap (CNYm) Enterprise value (CNYm) Valuation Metrics P/E (DB) (x) P/E (Reported) (x) P/BV (x) FCF Yield (%) Dividend Yield (%) EV/Sales (x) EV/EBITDA (x) EV/EBIT (x) Income Statement (CNYm) Sales revenue Gross profit EBITDA Depre

DSI. Some of the foreign securities stated on this report are not disclosed according to the Financial Instruments and Exchange Law of Japan. Malaysia: Deutsche Bank AG and/or its affiliate(s) may maintain positions in the securities referred to herein and may from time to time offer those securit

Valuation Metrics Price/Sales (x) Bloomberg: RTRX US USD 26.87 USD 52.00 USD 8.09 - 26.98 USDm 949 EURm 871 P/E (DB) (x) P/E (Reported) (x) P/BV (x) FCF yield (%) Dividend yield (%) EV/Sales EV/EBITDA EV/EBIT Income Statement (USDm) Sales EBITDA EBIT Pre-tax profit Net income Cash

preciated 28 India — range bound until post-election outlook clearer 29 Indonesia — first stress test since 1997; equities expensive 31 Malaysia — low-beta but fundamentally without merit 33 Thailand — tempting only to a tactical contrarian 34 Philippines — superior fundamentals more

aversion towards those sectors which face the most severe structural challenges, and nothing has changed in the past twelve months. Figure 2: EM — P/BV (x) versus RoE (%) 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 Healthcare Consumer Staples Consumer Discretionary Industrials Financials