Stock 603027 QIANHE CONDIMENT AND FOOD CO., LTD.
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Financials Qianhe Condiment and Food Co., Ltd.

Equities

603027

CNE1000026G2

Food Processing

End-of-day quote Shanghai S.E.
Other stock markets
 03:30:00 30/04/2024 am IST 		5-day change 1st Jan Change
15.49 CNY -8.40% Intraday chart for Qianhe Condiment and Food Co., Ltd. -5.66% -4.21%
29/04 Qianhe Condiment and Food Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI
29/04 Qianhe Condiment and Food Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 9,900 24,883 19,235 19,918 16,619 15,920 - -
Enterprise Value (EV) 1 9,900 24,883 19,038 19,574 15,025 14,806 14,775 13,990
P/E ratio 50.8 x 121 x 86.9 x 57.9 x 30.4 x 24.6 x 20.7 x 18.3 x
Yield 0.6% 0.25% 0.35% 0.52% 1.86% 1.43% 1.82% 2.3%
Capitalization / Revenue 7.31 x 14.7 x 9.99 x 8.18 x 5.18 x 4.21 x 3.66 x 3.24 x
EV / Revenue 7.31 x 14.7 x 9.89 x 8.03 x 4.69 x 3.92 x 3.39 x 2.85 x
EV / EBITDA 33.2 x 72.2 x 54.6 x 38.6 x 19.8 x 17 x 14.6 x 12.2 x
EV / FCF - - -193 x - -565 x 183 x 27.5 x 22.8 x
FCF Yield - - -0.52% - -0.18% 0.55% 3.63% 4.39%
Price to Book 6.22 x 13.1 x 9.27 x 8.53 x 4.55 x 3.92 x 3.42 x 3.02 x
Nbr of stocks (in thousands) 9,38,818 9,58,576 9,58,542 9,58,539 10,27,751 10,27,731 - -
Reference price 2 10.55 25.96 20.07 20.78 16.17 15.49 15.49 15.49
Announcement Date 17/04/20 15/04/21 26/04/22 07/04/23 29/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,355 1,693 1,925 2,436 3,207 3,778 4,354 4,917
EBITDA 1 298 344.6 348.8 506.6 760.4 873.2 1,014 1,151
EBIT 1 231.8 261.9 270 400.3 631.5 770.1 896.7 1,043
Operating Margin 17.11% 15.47% 14.02% 16.43% 19.69% 20.38% 20.59% 21.21%
Earnings before Tax (EBT) 1 232 256.9 261.2 401.7 629.2 758.1 884.6 1,029
Net income 1 198.3 205.8 221.4 344 530.4 644.1 762.3 867.1
Net margin 14.63% 12.15% 11.5% 14.12% 16.54% 17.05% 17.51% 17.63%
EPS 2 0.2075 0.2138 0.2310 0.3588 0.5322 0.6301 0.7467 0.8459
Free Cash Flow 1 - - -98.58 - -26.61 80.87 537 614
FCF margin - - -5.12% - -0.83% 2.14% 12.33% 12.49%
FCF Conversion (EBITDA) - - - - - 9.26% 52.96% 53.33%
FCF Conversion (Net income) - - - - - 12.56% 70.44% 70.81%
Dividend per Share 2 0.0635 0.0646 0.0700 0.1080 0.3000 0.2213 0.2820 0.3563
Announcement Date 17/04/20 15/04/21 26/04/22 07/04/23 29/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3
Net sales 1 569.7 532.5 1,015 539.2 882.6 818.6 712.3 800.5 875.4 894.6 812 888.6
EBITDA - - - - - - - - - - - -
EBIT 1 101.8 - - 77.7 182.6 172.2 131.8 154 173.5 181.2 132.5 162.8
Operating Margin 17.87% - - 14.41% 20.69% 21.03% 18.5% 19.23% 19.82% 20.26% 16.31% 18.32%
Earnings before Tax (EBT) - - - - - - - - - - - -
Net income - 63.6 118.8 - - - - 130.5 - - - -
Net margin - 11.94% 11.71% - - - - 16.3% - - - -
EPS 2 - - - - - - - - 0.1400 0.1507 0.1300 0.1500
Dividend per Share - - - - - - - - - - - -
Announcement Date 26/04/22 29/08/22 29/08/22 28/10/22 07/04/23 28/04/23 25/08/23 30/10/23 29/04/24 29/04/24 - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - - 197 344 1,594 1,114 1,145 1,930
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - -98.6 - -26.6 80.9 537 614
ROE (net income / shareholders' equity) 13.9% 11.7% 11.2% 15.5% 17.7% 16.2% 17.1% 16.9%
ROA (Net income/ Total Assets) 9.95% 9.71% 9.66% 12.4% - 13.6% 14.3% 14.8%
Assets 1 1,993 2,121 2,292 2,785 - 4,728 5,346 5,874
Book Value Per Share 2 1.700 1.980 2.160 2.440 3.550 3.950 4.520 5.130
Cash Flow per Share 2 0.2000 0.3900 0.1900 0.8000 0.4600 0.6700 0.7800 0.9200
Capex 1 236 211 275 215 497 283 202 220
Capex / Sales 17.44% 12.45% 14.28% 8.84% 15.49% 7.48% 4.65% 4.48%
Announcement Date 17/04/20 15/04/21 26/04/22 07/04/23 29/04/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Qianhe Condiment and Food Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
15.49 CNY
Average target price
19.79 CNY
Spread / Average Target
+27.78%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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