Financials Jiangsu Lihua Animal Husbandry Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 10/05/2024 am IST			5-day change	1st Jan Change
22.2 ^CNY	-0.58%		+1.65%	+5.87%

09/05	Jiangsu Lihua Animal Husbandry's Broiler, Pig Sales Rise in April	MT
21/04	Jiangsu Lihua Animal Husbandry Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	23,990	12,528	15,271	15,748	17,356	18,374	-	-
Enterprise Value (EV) ¹	23,990	12,826	16,900	17,066	19,372	20,329	19,846	18,374
P/E ratio	12 x	49.3 x	-38.6 x	16.2 x	-39.7 x	19.3 x	12.6 x	18.4 x
Yield	-	0.48%	-	2.34%	-	1.31%	2.04%	1.58%
Capitalization / Revenue	2.7 x	1.45 x	1.37 x	1.09 x	1.13 x	1.05 x	0.92 x	0.88 x
EV / Revenue	2.7 x	1.49 x	1.52 x	1.18 x	1.26 x	1.16 x	0.99 x	0.88 x
EV / EBITDA	-	18.6 x	126 x	11.1 x	62.2 x	9.97 x	7.43 x	8.44 x
EV / FCF	-	-	-8.42 x	-31.6 x	-23.3 x	-80.7 x	107 x	35.2 x
FCF Yield	-	-	-11.9%	-3.17%	-4.29%	-1.24%	0.94%	2.84%
Price to Book	3.52 x	1.88 x	2.44 x	1.87 x	2.26 x	2.14 x	1.86 x	1.75 x
Nbr of stocks (in thousands)	7,26,984	7,26,984	7,26,984	8,27,645	8,27,645	8,27,645	-	-
Reference price ²	33.00	17.23	21.01	19.03	20.97	22.20	22.20	22.20
Announcement Date	21/02/20	05/03/21	22/04/22	21/04/23	21/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	8,870	8,621	11,132	14,447	15,354	17,495	19,947	20,898
EBITDA ¹	-	690.9	134.6	1,541	311.7	2,038	2,670	2,176
EBIT ¹	1,971	271.7	-386.8	915.4	-402.3	1,000	1,497	1,026
Operating Margin	22.22%	3.15%	-3.47%	6.34%	-2.62%	5.72%	7.51%	4.91%
Earnings before Tax (EBT) ¹	1,964	254.2	-395.5	900.7	-438.8	958.1	1,466	1,001
Net income ¹	1,964	254.1	-395.6	890.8	-437.4	953.9	1,458	997.1
Net margin	22.14%	2.95%	-3.55%	6.17%	-2.85%	5.45%	7.31%	4.77%
EPS ²	2.749	0.3495	-0.5442	1.171	-0.5285	1.153	1.759	1.205
Free Cash Flow ¹	-	-	-2,008	-540.5	-831.5	-252	186	522
FCF margin	-	-	-18.04%	-3.74%	-5.42%	-1.44%	0.93%	2.5%
FCF Conversion (EBITDA)	-	-	-	-	-	-	6.97%	23.99%
FCF Conversion (Net income)	-	-	-	-	-	-	12.76%	52.35%
Dividend per Share ²	-	0.0833	-	0.4444	-	0.2900	0.4523	0.3500
Announcement Date	21/02/20	05/03/21	22/04/22	21/04/23	21/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	298	1,629	1,318	2,016	1,956	1,472	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	0.431 x	12.1 x	0.8549 x	6.469 x	0.9593 x	0.5513 x	-
Free Cash Flow ¹	-	-	-2,008	-540	-832	-252	186	522
ROE (net income / shareholders' equity)	33.8%	3.8%	-6.14%	12.5%	-5.43%	11%	14.5%	9.41%
ROA (Net income/ Total Assets)	-	2.85%	-39.1%	-	-3.2%	7.11%	10.5%	6.26%
Assets ¹	-	8,909	1,011	-	13,665	13,416	13,841	15,928
Book Value Per Share ²	9.390	9.190	8.610	10.20	9.290	10.40	11.90	12.70
Cash Flow per Share ²	3.330	0.2800	0.9400	2.230	1.750	1.470	2.530	2.050
Capex ¹	-	2,216	2,689	2,386	2,282	1,530	1,712	1,638
Capex / Sales	-	25.7%	24.16%	16.52%	14.86%	8.74%	8.58%	7.84%
Announcement Date	21/02/20	05/03/21	22/04/22	21/04/23	21/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

22.2 CNY

Average target price

20.25 CNY

Spread / Average Target

-8.78%

	1st Jan change	Capi.
JIANGSU LIHUA ANIMAL HUSBANDRY CO., LTD.	+5.87%	2.54B
FUJIAN SUNNER DEVELOPMENT CO., LTD.	-5.94%	2.78B
DEKON FOOD AND AGRICULTURE GROUP	-0.78%	2.54B
SHANDONG YISHENG LIVESTOCK & POULTRY BREEDING CO., LTD.	-7.81%	1.52B
INGHAMS GROUP LIMITED	-2.53%	947M
PENGDU AGRICULTURE & ANIMAL HUSBANDRY CO.,LTD.	-33.75%	935M
HENAN HUAYING AGRICULTURAL DEVELOPMENT CO., LTD.	-26.05%	520M
SHANDONG MINHE ANIMAL HUSBANDRY CO., LTD.	-16.78%	486M
MHP SE	+7.82%	354M
HARIM CO., LTD.	-27.17%	247M