Financials China Foods Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:22 2024-05-10 am EDT			5-day change	1st Jan Change
3.04 ^HKD	+2.36%		+3.40%	+3.40%

Apr. 26	China Foods Limited Announces Non-Executive Director and Composition of Board Committee Changes	CI
Mar. 19	China Foods' 2023 Profit Rises on Higher Revenue	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,420	7,105	8,532	7,832	8,224	8,504	-	-
Enterprise Value (EV) ¹	8,274	4,870	6,523	6,644	5,723	6,297	6,423	6,555
P/E ratio	18.3 x	11.9 x	12.1 x	10.4 x	9.09 x	9.15 x	8.5 x	8.26 x
Yield	1.6%	4.18%	4.11%	4.76%	5.47%	6.09%	6.45%	-
Capitalization / Revenue	0.45 x	0.35 x	0.35 x	0.33 x	0.35 x	0.35 x	0.33 x	0.31 x
EV / Revenue	0.44 x	0.24 x	0.27 x	0.28 x	0.25 x	0.26 x	0.25 x	0.24 x
EV / EBITDA	4.88 x	2.25 x	2.67 x	2.53 x	2.02 x	2.15 x	2.07 x	2.06 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.69 x	1.2 x	1.34 x	1.24 x	1.26 x	1.22 x	1.14 x	1.06 x
Nbr of stocks (in thousands)	2,797,223	2,797,223	2,797,223	2,797,223	2,797,223	2,797,223	-	-
Reference price ²	3.010	2.540	3.050	2.800	2.940	3.040	3.040	3.040
Announcement Date	3/24/20	3/23/21	3/29/22	3/29/23	3/19/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	18,855	20,585	24,310	23,941	23,299	24,363	25,386	27,168
EBITDA ¹	1,696	2,169	2,446	2,628	2,832	2,924	3,105	3,183
EBIT ¹	1,126	1,483	1,718	1,813	2,009	2,067	2,232	2,256
Operating Margin	5.97%	7.2%	7.07%	7.57%	8.62%	8.49%	8.79%	8.3%
Earnings before Tax (EBT) ¹	1,112	1,496	1,748	1,843	2,003	2,083	2,246	2,298
Net income ¹	458.7	595.2	703.3	753.4	904.5	929.3	1,001	1,036
Net margin	2.43%	2.89%	2.89%	3.15%	3.88%	3.81%	3.94%	3.81%
EPS ²	0.1640	0.2128	0.2514	0.2694	0.3233	0.3323	0.3577	0.3680
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0483	0.1061	0.1255	0.1334	0.1608	0.1850	0.1960	-
Announcement Date	3/24/20	3/23/21	3/29/22	3/29/23	3/19/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	146	2,235	2,009	1,189	2,501	2,207	2,081	1,948
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	9.54%	10.5%	11.3%	12.4%	14.4%	14%	13.8%	13.4%
ROA (Net income/ Total Assets)	3.01%	3.37%	3.78%	4.37%	5.32%	5.2%	5.1%	-
Assets ¹	15,228	17,638	18,602	17,259	16,996	17,872	19,627	-
Book Value Per Share ²	1.780	2.110	2.270	2.250	2.340	2.500	2.670	2.860
Cash Flow per Share ²	0.7500	0.9500	0.4500	0.4600	-	0.9500	0.9800	-
Capex ¹	771	675	845	1,000	-	928	945	-
Capex / Sales	4.09%	3.28%	3.48%	4.18%	-	3.81%	3.72%	-
Announcement Date	3/24/20	3/23/21	3/29/22	3/29/23	3/19/24	-	-	-

¹HKD in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.04 HKD

Average target price

3.839 HKD

Spread / Average Target

+26.29%

	1st Jan change	Capi.
CHINA FOODS LIMITED	+3.40%	1.09B
THE COCA-COLA COMPANY	+7.35%	273B
KEURIG DR PEPPER INC.	+2.13%	46.13B
VARUN BEVERAGES LIMITED	+18.30%	22.76B
CELSIUS HOLDINGS, INC.	+51.89%	19.3B
ARCA CONTINENTAL, S.A.B. DE C.V.	-6.93%	17.46B
COCA-COLA HELLENIC	+17.83%	12.41B
SWIRE PACIFIC LIMITED	+4.92%	11.42B
SUNTORY BEVERAGE & FOOD LIMITED	+12.41%	10.36B
COCA-COLA CONSOLIDATED, INC.	+2.55%	8.92B