Financials Shandong Minhe Animal Husbandry Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 15/05/2024 am IST			5-day change	1st Jan Change
10.08 ^CNY	-1.75%		-0.30%	-16.69%

26/04	Shandong Minhe Animal Husbandry Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
10/04	Minhe Animal Husbandry's March Chicken Sales Drops 37%	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,608	4,624	5,988	6,749	4,222	3,518	-	-
Enterprise Value (EV) ¹	9,608	4,624	5,988	6,749	4,222	3,518	3,518	3,518
P/E ratio	5.97 x	69.6 x	123 x	-14.9 x	-10.9 x	17.1 x	7.55 x	13.7 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	2.93 x	2.75 x	-	-	2.04 x	1.16 x	1.1 x	1.15 x
EV / Revenue	2.93 x	2.75 x	-	-	2.04 x	1.16 x	1.1 x	1.15 x
EV / EBITDA	-	-	-	-	-17.8 x	7.89 x	5.25 x	7.85 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	3.51 x	1.76 x	-	-	1.85 x	1.41 x	1.22 x	1.15 x
Nbr of stocks (in thousands)	3,02,047	3,02,047	3,48,960	3,48,960	3,48,960	3,48,960	-	-
Reference price ²	31.81	15.31	17.16	19.34	12.10	10.08	10.08	10.08
Announcement Date	28/02/20	25/02/21	25/03/22	28/03/23	18/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,276	1,682	-	-	2,074	3,030	3,197	3,063
EBITDA ¹	-	-	-	-	-237.3	445.8	670.2	448.2
EBIT ¹	1,612	73.3	-	-	-392.5	206.1	464.2	255.2
Operating Margin	49.21%	4.36%	-	-	-18.92%	6.8%	14.52%	8.33%
Earnings before Tax (EBT) ¹	1,609	65.11	-	-	-393.7	202.8	462.2	253.2
Net income ¹	1,610	66.68	47.61	-452.1	-386.3	206.7	465.9	254.9
Net margin	49.14%	3.96%	-	-	-18.62%	6.82%	14.57%	8.32%
EPS ²	5.330	0.2200	0.1400	-1.300	-1.110	0.5900	1.335	0.7350
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	28/02/20	25/02/21	25/03/22	28/03/23	18/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	83.6%	2.41%	-	-	-15.6%	8.65%	15.9%	7.95%
ROA (Net income/ Total Assets)	-	-	-	-	-	9.43%	15.9%	8.89%
Assets ¹	-	-	-	-	-	2,192	2,934	2,867
Book Value Per Share ²	9.060	8.680	-	-	6.550	7.150	8.250	8.780
Cash Flow per Share ²	5.750	0.7900	-	-	-	0.6000	2.520	0.6200
Capex ¹	-	-	-	-	348	835	228	-
Capex / Sales	-	-	-	-	16.79%	27.57%	7.13%	-
Announcement Date	28/02/20	25/02/21	25/03/22	28/03/23	18/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.08 CNY

Average target price

12.39 CNY

Spread / Average Target

+22.92%

	1st Jan change	Capi.
SHANDONG MINHE ANIMAL HUSBANDRY CO., LTD.	-16.69%	487M
CAL-MAINE FOODS, INC.	+0.71%	2.83B
FUJIAN SUNNER DEVELOPMENT CO., LTD.	-4.37%	2.83B
JIANGSU LIHUA ANIMAL HUSBANDRY CO., LTD.	+5.87%	2.54B
DEKON FOOD AND AGRICULTURE GROUP	-6.71%	2.39B
SHANDONG YISHENG LIVESTOCK & POULTRY BREEDING CO., LTD.	-9.29%	1.5B
INGHAMS GROUP LIMITED	-2.27%	961M
PENGDU AGRICULTURE & ANIMAL HUSBANDRY CO.,LTD.	-38.12%	874M
HENAN HUAYING AGRICULTURAL DEVELOPMENT CO., LTD.	-26.89%	514M
MHP SE	+8.79%	356M