Financials China Foods Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:20 2024-04-26 am EDT			5-day change	1st Jan Change
2.93 ^HKD	0.00%		+0.34%	-0.34%

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	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	8,000	8,420	7,105	8,532	7,832	8,196	8,196	-
Enterprise Value (EV) ¹	9,079	8,274	4,870	6,523	6,644	5,723	6,830	6,500
P/E ratio	21.3 x	18.3 x	11.9 x	12.1 x	10.4 x	9.09 x	8.82 x	8.19 x
Yield	1.39%	1.6%	4.18%	4.11%	4.76%	5.47%	6.31%	6.04%
Capitalization / Revenue	0.44 x	0.45 x	0.35 x	0.35 x	0.33 x	0.35 x	0.34 x	0.32 x
EV / Revenue	0.5 x	0.44 x	0.24 x	0.27 x	0.28 x	0.25 x	0.28 x	0.26 x
EV / EBITDA	6.16 x	4.88 x	2.25 x	2.67 x	2.53 x	2.02 x	2.34 x	2.1 x
EV / FCF	13,234,776 x	-	-	-	-	-	-	-
FCF Yield	0%	-	-	-	-	-	-	-
Price to Book	1.62 x	1.69 x	1.2 x	1.34 x	1.24 x	1.26 x	1.17 x	1.1 x
Nbr of stocks (in thousands)	2,797,223	2,797,223	2,797,223	2,797,223	2,797,223	2,797,223	2,797,223	-
Reference price ²	2.860	3.010	2.540	3.050	2.800	2.930	2.930	2.930
Announcement Date	3/26/19	3/24/20	3/23/21	3/29/22	3/29/23	3/19/24	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	18,304	18,855	20,585	24,310	23,941	23,299	24,361	25,450
EBITDA ¹	1,474	1,696	2,169	2,446	2,628	2,832	2,916	3,096
EBIT ¹	899.3	1,126	1,483	1,718	1,813	2,009	2,067	2,204
Operating Margin	4.91%	5.97%	7.2%	7.07%	7.57%	8.62%	8.49%	8.66%
Earnings before Tax (EBT) ¹	863.5	1,112	1,496	1,748	1,843	2,003	2,083	2,229
Net income ¹	375.3	458.7	595.2	703.3	753.4	904.5	929.3	1,001
Net margin	2.05%	2.43%	2.89%	2.89%	3.15%	3.88%	3.81%	3.93%
EPS ²	0.1342	0.1640	0.2128	0.2514	0.2694	0.3233	0.3323	0.3577
Free Cash Flow	686	-	-	-	-	-	-	-
FCF margin	3.75%	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	46.55%	-	-	-	-	-	-	-
FCF Conversion (Net income)	182.79%	-	-	-	-	-	-	-
Dividend per Share ²	0.0397	0.0483	0.1061	0.1255	0.1334	0.1608	0.1850	0.1770
Announcement Date	3/26/19	3/24/20	3/23/21	3/29/22	3/29/23	3/19/24	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	1,079	-	-	-	-	-	-	-
Net Cash position ¹	-	146	2,235	2,009	1,189	2,501	1,366	1,696
Leverage (Debt/EBITDA)	0.7323 x	-	-	-	-	-	-	-
Free Cash Flow	686	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	7.85%	9.54%	10.5%	11.3%	12.4%	14.4%	14%	13.4%
ROA (Net income/ Total Assets)	2.42%	3.01%	3.37%	3.78%	4.37%	5.32%	5.2%	5.1%
Assets ¹	15,484	15,228	17,638	18,602	17,259	16,996	17,872	19,627
Book Value Per Share ²	1.760	1.780	2.110	2.270	2.250	2.340	2.500	2.650
Cash Flow per Share ²	0.5300	0.7500	0.9500	0.4500	0.4600	0.9500	0.9500	0.9800
Capex ¹	800	771	675	845	1,000	873	928	1,006
Capex / Sales	4.37%	4.09%	3.28%	3.48%	4.18%	3.64%	3.81%	3.95%
Announcement Date	3/26/19	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

2.93 HKD

Average target price

3.85 HKD

Spread / Average Target

+31.40%

	1st Jan change	Capi.
CHINA FOODS LIMITED	-0.34%	1.05B
THE COCA-COLA COMPANY	+4.77%	266B
VARUN BEVERAGES LIMITED	+18.01%	22.74B
CELSIUS HOLDINGS, INC.	+34.19%	17.05B
ARCA CONTINENTAL, S.A.B. DE C.V.	-9.31%	16.6B
COCA-COLA HELLENIC	+11.50%	11.7B
SWIRE PACIFIC LIMITED	-1.51%	10.8B
SUNTORY BEVERAGE & FOOD LIMITED	+8.37%	9.89B
COCA-COLA CONSOLIDATED, INC.	-11.41%	7.71B
COCA-COLA IÇECEK ANONIM SIRKETI	+32.64%	5.46B