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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  New Hope Liuhe Co Ltd    000876   CNE000000VB0

NEW HOPE LIUHE CO LTD

(000876)
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China's top feed producer New Hope Liuhe first half profits surge 87% on year

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08/30/2019 | 08:12am EDT

BEIJING (Reuters) - China's major feed and meat producer New Hope Liuhe said on Friday its first-half net profit surged 87.14% as feed and poultry sales rose.

The privately-owned agriculture giant reported net profit of 1.56 billion yuan ($219.94 million), up from 846 million yuan a year ago. Revenue was 35.29 billion yuan, up 11.54% from the previous year, according to a company filing to the Shenzhen Stock Exchange.

The strong performance followed a similar rise in profits at another major poultry producer Wens Foodstuff. Both companies sold around 400 million chickens and ducks in the period.

In a statement ahead of the earnings report, New Hope Liuhe said a jump in poultry and pig prices in the first half pushed up the firm's profits.

New Hope Liuhe sold 8.76 million tonnes of feed in the first half, up 13.74% from the previous year, as a sharp rise in sales of poultry and aquaculture feed made up for a drop in pig feed sales, the company filing said.

The firm sold 1.34 million pigs during the period, up 8.33% from a year ago. Pork products sales fell 18.89%, to 120,700 tonnes, as it was difficult to get pigs from farmers due to the African swine fever disease, the company said.

New Hope Liuhe raises pigs on its own farms and also through contracted farmers. The top feed producer in China is expanding fast in pig production both domestically and overseas, as the deadly disease ravages the region.

African swine fever, detected in China in August, has now spread to Vietnam, Laos and Cambodia, significantly reducing pork output in the region.

New Hope Liuhe sold 2.55 million pigs and 17.04 million tonnes of feed in 2018. It aims to be among the top three pig producers in China and slaughter 25 million pigs annually by 2022, according to its annual report for 2018.

(Reporting by Hallie Gu and Dominique Patton; Editing by Kirsten Donovan)

Stocks mentioned in the article
ChangeLast1st jan.
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.39% 140.5 End-of-day quote.-5.98%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.00% 99.8 End-of-day quote.-20.03%
NEW HOPE LIUHE CO LTD End-of-day quote.
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.37% 7.112 Delayed Quote.3.55%
WENS FOODSTUFF GROUP CO LTD End-of-day quote.
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Financials (CNY)
Sales 2019 80 006 M
EBIT 2019 5 008 M
Net income 2019 3 408 M
Debt 2019 -
Yield 2019 0,65%
P/E ratio 2019 22,8x
P/E ratio 2020 12,7x
Capi. / Sales2019 0,97x
Capi. / Sales2020 0,82x
Capitalization 77 996 M
Chart NEW HOPE LIUHE CO LTD
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New Hope Liuhe Co Ltd Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 6
Average target price 19,02  CNY
Last Close Price 18,50  CNY
Spread / Highest target 29,7%
Spread / Average Target 2,80%
Spread / Lowest Target -21,8%
EPS Revisions
Managers
NameTitle
Chang Liu Chairman
Zhi Gang Xu Chairman-Supervisory Board
Yong Hao Liu Director
Hang Wang Director
Zhi Hu Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
NEW HOPE LIUHE CO LTD10 921
NESTLÉ S.A.34.36%311 762
MONDELEZ INTERNATIONAL36.52%79 376
DANONE30.78%57 399
THE KRAFT HEINZ COMPANY-34.62%34 343
GENERAL MILLS39.52%32 873