Financials Jiangsu Lihua Animal Husbandry Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-05-22 pm EDT			5-day change	1st Jan Change
24.12 ^CNY	-1.47%		+5.79%	+15.02%

May. 09	Jiangsu Lihua Animal Husbandry's Broiler, Pig Sales Rise in April	MT
Apr. 21	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	19,963	-	-
Enterprise Value (EV) ¹	23,990	12,826	16,900	17,066	19,372	21,918	21,435	19,963
P/E ratio	12 x	49.3 x	-38.6 x	16.2 x	-39.7 x	18.5 x	13.4 x	20 x
Yield	-	0.48%	-	2.34%	-	1.2%	1.88%	1.45%
Capitalization / Revenue	2.7 x	1.45 x	1.37 x	1.09 x	1.13 x	1.14 x	1 x	0.96 x
EV / Revenue	2.7 x	1.49 x	1.52 x	1.18 x	1.26 x	1.25 x	1.07 x	0.96 x
EV / EBITDA	-	18.6 x	126 x	11.1 x	62.2 x	10.8 x	8.03 x	9.17 x
EV / FCF	-	-	-8.42 x	-31.6 x	-23.3 x	-87 x	115 x	38.2 x
FCF Yield	-	-	-11.9%	-3.17%	-4.29%	-1.15%	0.87%	2.61%
Price to Book	3.52 x	1.88 x	2.44 x	1.87 x	2.26 x	2.33 x	2.02 x	1.9 x
Nbr of stocks (in thousands)	726,984	726,984	726,984	827,645	827,645	827,645	-	-
Reference price ²	33.00	17.23	21.01	19.03	20.97	24.12	24.12	24.12
Announcement Date	2/21/20	3/5/21	4/22/22	4/21/23	4/21/24	-	-	-

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	1,080	1,488	997.1
Net margin	22.14%	2.95%	-3.55%	6.17%	-2.85%	6.17%	7.46%	4.77%
EPS ²	2.749	0.3495	-0.5442	1.171	-0.5285	1.305	1.795	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)	-	-	-	-	-	-	12.5%	52.35%
Dividend per Share ²	-	0.0833	-	0.4444	-	0.2900	0.4523	0.3500
Announcement Date	2/21/20	3/5/21	4/22/22	4/21/23	4/21/24	-	-	-

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%	12%	14.6%	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	15,185	14,123	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	2/21/20	3/5/21	4/22/22	4/21/23	4/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

24.12 CNY

Average target price

20.25 CNY

Spread / Average Target

-16.04%

	1st Jan change	Capi.
JIANGSU LIHUA ANIMAL HUSBANDRY CO., LTD.	+15.02%	2.8B
FUJIAN SUNNER DEVELOPMENT CO., LTD.	-1.57%	2.91B
DEKON FOOD AND AGRICULTURE GROUP	-3.11%	2.52B
SHANDONG YISHENG LIVESTOCK & POULTRY BREEDING CO., LTD.	-5.20%	1.58B
INGHAMS GROUP LIMITED	-7.83%	888M
PENGDU AGRICULTURE & ANIMAL HUSBANDRY CO.,LTD.	-38.75%	880M
SHANDONG MINHE ANIMAL HUSBANDRY CO., LTD.	-10.33%	535M
HENAN HUAYING AGRICULTURAL DEVELOPMENT CO., LTD.	-27.31%	524M
MHP SE	+8.14%	353M
HARIM CO., LTD.	-25.00%	258M