YUAN LONG PING HIGH-TECH AGRICULTURE CO., LTD.

Financials Yuan Long Ping High-Tech Agriculture Co., Ltd.

Equities

000998

CNE000001360

Fishing & Farming

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
12.36 ^CNY	+0.82%		-0.32%	-12.34%

Jan. 24	China's Soybean Output Hits Record 21 Million Tonnes in 2023	MT
2023	Central Enterprise Rural Industry Investment Fund Co., Ltd. managed by SDIC Chuangyi Industry Fund Management Co., Ltd. agreed to acquire additional 10.94% stake in Longping Biotechnology Co., Ltd. from Yuan Long Ping High-Tech Agriculture Co., Ltd. for approximately CNY 360 million.	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	18,592	19,373	25,634	30,098	21,164	16,278	16,278	-
Enterprise Value (EV) ¹	22,504	24,305	29,844	33,533	23,774	18,934	18,793	18,420
P/E ratio	23.5 x	-64 x	220 x	465 x	-24 x	90 x	31.2 x	22 x
Yield	1.35%	-	-	-	-	0.16%	0.74%	1.04%
Capitalization / Revenue	5.19 x	6.19 x	7.79 x	8.59 x	5.74 x	2.47 x	2.27 x	1.96 x
EV / Revenue	6.29 x	7.77 x	9.07 x	9.57 x	6.44 x	2.88 x	2.62 x	2.22 x
EV / EBITDA	19.6 x	204 x	53.5 x	64.9 x	-69.1 x	19.4 x	13.2 x	10.4 x
EV / FCF	-	-	-	35.9 x	30.7 x	-59.4 x	31.7 x	20.7 x
FCF Yield	-	-	-	2.79%	3.26%	-1.68%	3.15%	4.84%
Price to Book	2.84 x	3.14 x	4.74 x	5.56 x	4.2 x	3.13 x	2.83 x	2.52 x
Nbr of stocks (in thousands)	1,256,195	1,316,970	1,293,969	1,293,969	1,316,970	1,316,970	1,316,970	-
Reference price ²	14.80	14.71	19.81	23.26	16.07	12.36	12.36	12.36
Announcement Date	4/28/19	4/14/20	4/14/21	4/25/22	4/28/23	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	3,580	3,130	3,291	3,503	3,689	6,584	7,180	8,295
EBITDA ¹	1,148	118.9	558.2	516.7	-343.8	977.7	1,427	1,778
EBIT ¹	940.4	-152.4	273.3	215.8	-732.8	368.2	675.5	950.4
Operating Margin	26.27%	-4.87%	8.31%	6.16%	-19.86%	5.59%	9.41%	11.46%
Earnings before Tax (EBT) ¹	939.8	-172.5	250.1	190.9	-752.8	328.2	699.2	979.4
Net income ¹	791	-298.3	115.9	62.45	-876.5	180.7	522.1	738.6
Net margin	22.1%	-9.53%	3.52%	1.78%	-23.76%	2.74%	7.27%	8.9%
EPS ²	0.6300	-0.2300	0.0900	0.0500	-0.6700	0.1373	0.3967	0.5609
Free Cash Flow ¹	-	-	-	935.2	774.8	-319	592	891
FCF margin	-	-	-	26.69%	21%	-4.85%	8.24%	10.74%
FCF Conversion (EBITDA)	-	-	-	181.01%	-	-	41.49%	50.11%
FCF Conversion (Net income)	-	-	-	1,497.63%	-	-	113.39%	120.63%
Dividend per Share ²	0.2000	-	-	-	-	0.0204	0.0915	0.1290
Announcement Date	4/28/19	4/14/20	4/14/21	4/25/22	4/28/23	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	269.4	292.8	2,676	-	85.63	2,405	-	721.1	262.1	2,255	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-62.52	-261.6	481.1	-	-408.2	-93.63	-	-	-406	365.3	-	-	-	-
Operating Margin	-23.21%	-89.37%	17.98%	-	-476.65%	-3.89%	-	-	-154.88%	16.2%	-	-	-	-
Earnings before Tax (EBT)	-66.66	-261.5	457.8	-	-419.2	-99.96	-	-	-	-	-	-	-	-
Net income	-97.64	-241.2	360.7	-	-412.6	-166.1	-	-315.3	-398.3	-	-	-	-	-
Net margin	-36.24%	-82.37%	13.48%	-	-481.79%	-6.9%	-	-43.72%	-151.95%	-	-	-	-	-
EPS ²	-0.0700	-0.1900	0.2800	-	-0.3200	-0.1200	-	-0.2400	-0.3000	0.5160	-	-	-	-
Dividend per Share ²	-	-	-	-	-	-	-	-	-	0.0311	-	-	-	0.1061
Announcement Date	8/27/21	10/29/21	4/25/22	7/28/22	10/27/22	4/28/23	5/30/23	8/30/23	10/27/23	-	-	-	-	-

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	3,912	4,932	4,211	3,435	2,610	2,656	2,515	2,142
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.407 x	41.48 x	7.543 x	6.648 x	-7.592 x	2.717 x	1.762 x	1.205 x
Free Cash Flow ¹	-	-	-	935	775	-319	592	891
ROE (net income / shareholders' equity)	13.3%	-4.62%	2.01%	1.13%	-17.2%	4.42%	9.36%	11.6%
ROA (Net income/ Total Assets)	5.58%	-1.93%	0.79%	0.45%	-6.13%	1.54%	3.67%	4.48%
Assets ¹	14,171	15,430	14,616	13,927	14,304	11,770	14,226	16,487
Book Value Per Share ²	5.200	4.690	4.180	4.180	3.820	3.950	4.370	4.900
Cash Flow per Share ²	-0.0100	0.0700	1.040	1.040	0.7900	0.5900	1.610	1.430
Capex ¹	595	332	293	434	260	974	362	467
Capex / Sales	16.61%	10.61%	8.92%	12.39%	7.06%	14.79%	5.04%	5.62%
Announcement Date	4/28/19	4/14/20	4/14/21	4/25/22	4/28/23	-	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Yuan Long Ping High-Tech Agriculture Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12.36 CNY

Average target price

19.22 CNY

Spread / Average Target

+55.54%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Grain (Crop) Production

	1st Jan change	Capi.
YUAN LONG PING HIGH-TECH AGRICULTURE CO., LTD.	-12.34%	2.25B
JIANGSU PROVINCIAL AGRICULTURAL RECLAMATION AND DEVELOPMENT CO.,LTD.	+3.22%	2.01B
SHANDONGDENGHAI SEEDS CO.,LTD	-26.23%	1.19B
WINALL HI-TECH SEED CO., LTD.	-10.50%	980M
GDH SUPERTIME GROUP COMPANY LIMITED	-9.70%	754M
CRESUD SOCIEDAD ANÓNIMA, COMERCIAL, INMOBILIARIA, FINANCIERA Y AGROPECUARIA	+8.44%	671M
PT SAWIT SUMBERMAS SARANA TBK.	-3.83%	590M
BRASILAGRO - COMPANHIA BRASILEIRA DE PROPRIEDADES AGRÍCOLAS	-5.28%	492M
BOA SAFRA SEMENTES S.A.	+12.88%	484M
GANSU DUNHUANG SEED GROUP CO.,LTD.	-12.33%	383M

Grain (Crop) Production