Financials XIANGPIAOPIAO Food Co.,Ltd

Equities

End-of-day quote Shanghai S.E. Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
18.44 ^CNY	+1.93%		+5.61%	+7.58%

Apr. 18	Xiangpiaopiao Food to Subscribe to 2 Billion Yuan Worth of Wealth Management Products	MT
Apr. 17	XIANGPIAOPIAO Food 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	10,240	8,431	6,491	6,178	7,040	7,574	-	-
Enterprise Value (EV) ¹	10,240	8,431	6,491	6,178	7,040	7,574	7,574	7,574
P/E ratio	30.1 x	24 x	30.9 x	28.9 x	25.2 x	22 x	18 x	14.9 x
Yield	-	-	-	-	2.04%	2.33%	2.87%	3.36%
Capitalization / Revenue	2.57 x	2.24 x	-	1.98 x	1.94 x	1.78 x	1.55 x	1.37 x
EV / Revenue	2.57 x	2.24 x	-	1.98 x	1.94 x	1.78 x	1.55 x	1.37 x
EV / EBITDA	18.6 x	14 x	-	13.3 x	13.5 x	15.3 x	12.7 x	10.7 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	4.24 x	3.11 x	-	1.98 x	2.1 x	2.13 x	1.94 x	1.76 x
Nbr of stocks (in thousands)	400,010	398,831	395,774	410,746	410,746	410,746	-	-
Reference price ²	25.60	21.14	16.40	15.04	17.14	18.44	18.44	18.44
Announcement Date	4/24/20	4/29/21	4/29/22	2/5/23	4/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,978	3,761	-	3,128	3,625	4,248	4,877	5,511
EBITDA ¹	550.8	602.6	-	466	523	495.8	595.3	710
EBIT ¹	440.1	465.9	-	284.8	343.3	426.9	524.9	611.7
Operating Margin	11.06%	12.39%	-	9.11%	9.47%	10.05%	10.76%	11.1%
Earnings before Tax (EBT) ¹	441.6	455.4	-	282.6	341.3	424.4	520.4	626.3
Net income ¹	347.4	358.4	222.5	213.9	280.3	344.1	422.2	508.1
Net margin	8.73%	9.53%	-	6.84%	7.73%	8.1%	8.66%	9.22%
EPS ²	0.8500	0.8800	0.5300	0.5200	0.6800	0.8383	1.027	1.238
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	0.3500	0.4300	0.5300	0.6200
Announcement Date	4/24/20	4/29/21	4/29/22	2/5/23	4/17/24	-	-	-

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)	14.7%	13.3%	-	7.01%	8.67%	9.67%	10.8%	11.8%
ROA (Net income/ Total Assets)	-	8.28%	-	-	-	6.61%	7.6%	8.34%
Assets ¹	-	4,327	-	-	-	5,203	5,558	6,095
Book Value Per Share ²	6.040	6.790	-	7.600	8.150	8.660	9.490	10.50
Cash Flow per Share ²	1.760	0.8000	-	1.910	0.9300	1.410	1.460	2.130
Capex ¹	531	392	-	-	65.1	245	228	233
Capex / Sales	13.36%	10.42%	-	-	1.8%	5.78%	4.67%	4.23%
Announcement Date	4/24/20	4/29/21	4/29/22	2/5/23	4/17/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

18.44 CNY

Average target price

20.6 CNY

Spread / Average Target

+11.71%

	1st Jan change	Capi.
XIANGPIAOPIAO FOOD CO.,LTD	+7.58%	1.05B
TATA CONSUMER PRODUCTS LIMITED	-0.16%	12.44B
JDE PEET'S N.V.	-13.96%	10.97B
ITALMOBILIARE S.P.A.	+11.53%	1.41B
WESTROCK COFFEE COMPANY	+2.84%	928M
KUBER RESOURCES CORPORATION	-.--%	729M
TENFU (CAYMAN) HOLDINGS COMPANY LIMITED	-8.40%	630M
TAIWAN TEA CORPORATION	-2.07%	518M
BRC INC.	+36.09%	333M
KEY COFFEE INC.	-2.59%	280M