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

NEW HOPE LIUHE CO LTD

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New Hope Liuhe : China's top feed producer completes construction at its first pig farm overseas

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08/25/2019 | 05:13am EDT

BINH PHUOC, Vietnam/BEIJING (Reuters) - China's top feed producer, New Hope Liuhe, said on Sunday it had completed construction of its first overseas pig farm in Vietnam, seeing potential demand growth in a major market devastated by a severe African swine fever outbreak.

The pig farm in Binh Phuoc province, which has an annual production of 300,000 pigs, is one of three that New Hope Liuhe, the agribusiness subsidiary of New Hope Group, invested in recently in the Southeast Asian nation.

The farm is expected to start getting pigs in November and eventually have an inventory of 13,500 Hypor-breed sows produced by Holland's Hendrix Genetics. It will come online at a time when Vietnam has seen significantly reduced pork supplies.

The deadly African swine fever has spread to farms in 61 of Vietnam's 63 provinces since it was first detected in February. Vietnam has culled 13% of its pig herd, or 4 million pigs, according to the Ministry of Agriculture and Rural Development.

"For pig farming, every disease is both a challenge and an opportunity. Similar to what is happening in China, African swine fever disease will accelerate the consolidation of the pig farming sector," said Liu Zhong, general manager of New Hope Liuhe'a overseas pig sector.

New Hope has equipped its pig farm in Binh Phuoc with multi-layered sanitisation and disinfection systems and animal waste treatment facilities worth 20 million yuan (2.3 million pounds), all part of its upgraded biosecurity efforts.

The company also plans to build a feed mill on the Binh Phuoc farm to supply animal meals to the herd and reduce the risk of exposing feed to viruses in the open air and during transport.

Liu said New Hope Liuhe has solid experience in preventing African swine fever in China that can be easily applied as it expands into pig production overseas.

"You wouldn't do a tough job if you don't have the skills or tools," Liu said.

The new farms expand New Hope's footprint in Southeast Asia on top of its existing eight feed firms in Vietnam, which sold more than 700,000 tonnes of feed in 2018.

New Hope says the Binh Phuoc pig farm will help it increase sales by 90,000 tonnes of pig feed every year in Vietnam, where the feed giant built its first overseas plant 20 years ago.

The new investment also comes as New Hope increases hog production in its domestic market, with the goal to be among the top three producers in the world’s top pig herd by 2022.

(Reporting by Hallie Gu and Dominique Patton; Additional reporting by Khanh Vu in HANOI; Editing by Paul Tait)

By Hallie Gu and Dominique Patton

Stocks mentioned in the article
ChangeLast1st jan.
NEW HOPE LIUHE CO LTD End-of-day quote.
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) -0.06% 7.0908 Delayed Quote.3.21%
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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
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Income Statement Evolution
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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
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