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2299

Fujian Sunner Development SZSE:002299 Stock Report

Last Price

CN¥19.91

Market Cap

CN¥24.8b

7D

-2.5%

1Y

-7.8%

Updated

29 Sep, 2022

Data

Company Financials +
2299 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth3/6
Past Performance1/6
Financial Health2/6
Dividends1/6

2299 Stock Overview

Fujian Sunner Development Co., Ltd. engages in breeding, slaughtering, processing, and selling of chicken products in China.

Fujian Sunner Development Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Fujian Sunner Development
Historical stock prices
Current Share PriceCN¥19.91
52 Week HighCN¥24.64
52 Week LowCN¥15.82
Beta0.42
1 Month Change-13.06%
3 Month Change3.97%
1 Year Change-7.82%
3 Year Change-19.26%
5 Year Change29.96%
Change since IPO51.70%

Recent News & Updates

Shareholder Returns

2299CN FoodCN Market
7D-2.5%0.5%-2.2%
1Y-7.8%-11.6%-18.4%

Return vs Industry: 002299 exceeded the CN Food industry which returned -11% over the past year.

Return vs Market: 002299 exceeded the CN Market which returned -17.3% over the past year.

Price Volatility

Is 2299's price volatile compared to industry and market?
2299 volatility
2299 Average Weekly Movement4.8%
Food Industry Average Movement5.2%
Market Average Movement5.8%
10% most volatile stocks in CN Market9.2%
10% least volatile stocks in CN Market3.8%

Stable Share Price: 002299 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 002299's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198324,347Fen Fang Fuhttps://www.sunnercn.com

Fujian Sunner Development Co., Ltd. engages in breeding, slaughtering, processing, and selling of chicken products in China. It also offers divided chilled/frozen chicken and deep processed meat products. The company was founded in 1983 and is headquartered in Nanping, China.

Fujian Sunner Development Fundamentals Summary

How do Fujian Sunner Development's earnings and revenue compare to its market cap?
2299 fundamental statistics
Market CapCN¥24.76b
Earnings (TTM)CN¥74.74m
Revenue (TTM)CN¥15.23b

331.3x

P/E Ratio

1.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2299 income statement (TTM)
RevenueCN¥15.23b
Cost of RevenueCN¥14.30b
Gross ProfitCN¥933.40m
Other ExpensesCN¥858.66m
EarningsCN¥74.74m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.06
Gross Margin6.13%
Net Profit Margin0.49%
Debt/Equity Ratio66.9%

How did 2299 perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

494%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 2299 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2299?

Other financial metrics that can be useful for relative valuation.

2299 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2x
Enterprise Value/EBITDA22.1x
PEG Ratio4.1x

Price to Sales Ratio vs Peers

How does 2299's PS Ratio compare to its peers?

2299 PS Ratio vs Peers
The above table shows the PS ratio for 2299 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average5.3x
600872 Jonjee Hi-tech Industrial & Commercial Holding
4.5x11.1%CN¥24.3b
603156 Hebei Yangyuan ZhiHui Beverage
3.8xn/aCN¥23.5b
002507 Chongqing Fuling Zhacai Group
9.3x12.6%CN¥24.1b
002557 Chacha Food Company
3.8x14.7%CN¥23.7b
002299 Fujian Sunner Development
1.6x14.1%CN¥24.8b

Price-To-Sales vs Peers: 002299 is good value based on its Price-To-Sales Ratio (1.6x) compared to the peer average (5.3x).


Price to Earnings Ratio vs Industry

How does 2299's PE Ratio compare vs other companies in the CN Food Industry?

Price-To-Sales vs Industry: 002299 is good value based on its Price-To-Sales Ratio (1.6x) compared to the CN Food industry average (2.5x)


Price to Sales Ratio vs Fair Ratio

What is 2299's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2299 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.6x
Fair PS Ratio1.2x

Price-To-Sales vs Fair Ratio: 002299 is expensive based on its Price-To-Sales Ratio (1.6x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).


Share Price vs Fair Value

What is the Fair Price of 2299 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002299 (CN¥19.91) is trading below our estimate of fair value (CN¥67.04)

Significantly Below Fair Value: 002299 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Fujian Sunner Development forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


81.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 002299's forecast earnings growth (81.6% per year) is above the savings rate (3.2%).

Earnings vs Market: 002299's earnings (81.6% per year) are forecast to grow faster than the CN market (25.9% per year).

High Growth Earnings: 002299's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 002299's revenue (14.1% per year) is forecast to grow slower than the CN market (18.2% per year).

High Growth Revenue: 002299's revenue (14.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 002299's Return on Equity is forecast to be low in 3 years time (16.7%).


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Past Performance

How has Fujian Sunner Development performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


2.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 002299 has a large one-off gain of CN¥104.4M impacting its June 30 2022 financial results.

Growing Profit Margin: 002299's current net profit margins (0.5%) are lower than last year (7%).


Past Earnings Growth Analysis

Earnings Trend: 002299's earnings have grown by 2.9% per year over the past 5 years.

Accelerating Growth: 002299's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 002299 had negative earnings growth (-92.4%) over the past year, making it difficult to compare to the Food industry average (-5.2%).


Return on Equity

High ROE: 002299's Return on Equity (0.9%) is considered low.


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Financial Health

How is Fujian Sunner Development's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 002299's short term assets (CN¥6.2B) do not cover its short term liabilities (CN¥8.8B).

Long Term Liabilities: 002299's short term assets (CN¥6.2B) exceed its long term liabilities (CN¥967.1M).


Debt to Equity History and Analysis

Debt Level: 002299's net debt to equity ratio (48.7%) is considered high.

Reducing Debt: 002299's debt to equity ratio has reduced from 85.1% to 66.9% over the past 5 years.

Debt Coverage: 002299's debt is not well covered by operating cash flow (14.7%).

Interest Coverage: 002299's interest payments on its debt are not well covered by EBIT (1.7x coverage).


Balance Sheet


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Dividend

What is Fujian Sunner Development current dividend yield, its reliability and sustainability?

Dividend Score

1/6

Dividend Score 1/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.51%

Current Dividend Yield

Dividend Yield vs Market

Fujian Sunner Development Dividend Yield vs Market
How does Fujian Sunner Development dividend yield compare to the market?
SegmentDividend Yield
Company (Fujian Sunner Development)1.5%
Market Bottom 25% (CN)0.5%
Market Top 25% (CN)2.1%
Industry Average (Food)1.4%
Analyst forecast in 3 Years (Fujian Sunner Development)1.3%

Notable Dividend: 002299's dividend (1.51%) is higher than the bottom 25% of dividend payers in the CN market (0.53%).

High Dividend: 002299's dividend (1.51%) is low compared to the top 25% of dividend payers in the CN market (2.13%).


Stability and Growth of Payments

Stable Dividend: 002299's dividend payments have been volatile in the past 10 years.

Growing Dividend: 002299's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (493.8%), 002299's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: 002299 is paying a dividend but the company has no free cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

5.7yrs

Average board tenure


CEO

Fen Fang Fu (42 yo)

13.08yrs

Tenure

CN¥800,000

Compensation

Ms. Fen Fang Fu serves as Director at Fujian Sunner Development Co., Ltd. since August 2, 2009 and serves as its General Manager. Ms. Fu serves as the Chairman at Fujian Saint agriculture industry company....


Board Members

Experienced Board: 002299's board of directors are considered experienced (5.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of 2299?
Owner TypeNumber of SharesOwnership Percentage
Employee Share Scheme5,117,1000.4%
Public Companies62,220,5005.0%
Individual Insiders63,206,1375.1%
Institutions218,919,14317.6%
General Public331,356,11726.6%
Private Companies562,934,17245.3%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 70.22% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
43.68%
Fujian Sunner Holding Group Co., Ltd.
543,269,848CN¥10.8b0%no data
5%
Yum China Holdings, Inc.
62,220,500CN¥1.2b0%no data
3.99%
RWC Partners Limited
49,622,523CN¥988.0m-22.28%1.4%
2.67%
Changyu Fu
33,253,520CN¥662.1m0%no data
2.06%
Lombarda China Fund Management Co., Ltd.
25,673,382CN¥511.2m0%0.24%
1.4%
Bank of Communications Schroder Asset Management Co., Ltd
17,402,400CN¥346.5m0%4.98%
1.02%
KKR & Co. Inc.
12,737,371CN¥253.6m-14.9%0.25%
0.9%
Shenzhen Boheng Investment Co., Ltd.
11,135,073CN¥221.7m0%no data
0.88%
Bank of Communications Schroder Fund Management Co., Ltd.
10,965,498CN¥218.3m0%0.21%
0.87%
Fen Fang Fu
10,819,160CN¥215.4m0%no data
0.83%
Guotai Asset Management Co., Ltd.
10,265,117CN¥204.4m17.01%0.15%
0.75%
Xiaoming Su
9,348,990CN¥186.1m0%no data
0.69%
Shanghai Antie Tongxin Enterprise Management Partnership (Limited Partnership)
8,529,251CN¥169.8m0%no data
0.67%
National Council for Social Security Fund
8,352,661CN¥166.3m0%0.03%
0.67%
Yinhua Fund Management Co. Ltd.
8,300,000CN¥165.3m0%0.14%
0.65%
Golden Trust SinoPac Fund Management Co., Ltd.
8,090,142CN¥161.1m0%1.29%
0.51%
China Southern Asset Management Co., Ltd.
6,374,905CN¥126.9m0%0.06%
0.43%
Norges Bank Investment Management
5,304,734CN¥105.6m0%no data
0.41%
Fujian Sunner Development Co., Ltd., ESOP
5,117,100CN¥101.9m0%no data
0.4%
Caisse de dépôt et placement du Québec
4,961,560CN¥98.8m0%0.02%
0.39%
Lu Fang Fu
4,890,200CN¥97.4m0%no data
0.37%
Wanjia Asset Management Co., Ltd.
4,647,080CN¥92.5m0%0.23%
0.35%
TD Asset Management, Inc.
4,300,900CN¥85.6m-2.35%0.01%
0.32%
China Universal Asset Management Company Ltd.
4,012,434CN¥79.9m0%0.04%
0.31%
Taikang Asset Management Co., Ltd.
3,814,642CN¥75.9m0%0.15%

Company Information

Fujian Sunner Development Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Fujian Sunner Development Co., Ltd.
  • Ticker: 2299
  • Exchange: SZSE
  • Founded: 1983
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Implied Market Cap: CN¥24.763b
  • Shares outstanding: 1.24b
  • Website: https://www.sunnercn.com

Number of Employees


Location

  • Fujian Sunner Development Co., Ltd.
  • Shengnong Headquarters Office Building
  • Shilipu
  • Nanping
  • Fujian Province
  • 354100
  • China


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2299SZSE (Shenzhen Stock Exchange)YesDomestic SharesCNCNYOct 2009
2299XSEC (Shenzhen Stock Exchange - Shenzhen-Hong Kong Stock Connect)YesDomestic SharesCNCNYOct 2009

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.