Tangrenshen Group Valuation

Is 002567 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 002567 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002567 (CN¥5.24) is trading below our estimate of fair value (CN¥11.7)

Significantly Below Fair Value: 002567 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 002567?

Key metric: As 002567 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 002567. This is calculated by dividing 002567's market cap by their current revenue.
What is 002567's PS Ratio?
PS Ratio	0.3x
Sales	CN¥23.15b
Market Cap	CN¥7.36b

002567 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/Revenue	0.6x
Enterprise Value/EBITDA	14.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 002567's PS Ratio compare to its peers?

The above table shows the PS ratio for 002567 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	1.5x
603057 Shanghai Ziyan Foods	2.3x	9.8%	CN¥7.3b
605339 Namchow Food Group (Shanghai)	2.3x	n/a	CN¥7.0b
002840 Zhejiang Huatong Meat Products	0.9x	23.5%	CN¥7.9b
002124 Tech-Bank Food	0.7x	-18.1%	CN¥7.1b
002567 Tangrenshen Group	0.3x	17.0%	CN¥7.4b

Price-To-Sales vs Peers: 002567 is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (1.5x).

Price to Sales Ratio vs Industry

How does 002567's PS Ratio compare vs other companies in the CN Food Industry?

5 Companies	Price / Sales	Estimated Growth	Market Cap
603609 Wellhope Foods	0.2x	9.6%	US$1.01b
600073 Shanghai Bright Meat Group	0.3x	n/a	US$880.23m
301116 Jiangsu Yike Food GroupLtd	0.3x	20.1%	US$694.89m
603363 Fujian Aonong Biological Technology Group Incorporation	0.3x	n/a	US$430.08m

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 002567 is good value based on its Price-To-Sales Ratio (0.3x) compared to the CN Food industry average (1.7x).

Price to Sales Ratio vs Fair Ratio

What is 002567'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.

002567 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.3x
Fair PS Ratio	0.9x

Price-To-Sales vs Fair Ratio: 002567 is good value based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (0.9x).

Analyst Price Targets

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

The above table shows the analyst 002567 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CN¥5.24	CN¥6.02 +14.8%	6.4%	CN¥6.50	CN¥5.55	n/a	3
Nov ’25	CN¥5.31	CN¥6.02 +13.3%	6.4%	CN¥6.50	CN¥5.55	n/a	3
Oct ’25	CN¥5.77	CN¥6.02 +4.3%	6.4%	CN¥6.50	CN¥5.55	n/a	3
Sep ’25	CN¥4.97	CN¥6.68 +34.5%	15.1%	CN¥8.00	CN¥5.55	n/a	3
Aug ’25	CN¥5.51	CN¥7.16 +29.9%	12.0%	CN¥8.00	CN¥5.98	n/a	3
Jul ’25	CN¥5.70	CN¥7.24 +27.1%	10.3%	CN¥8.00	CN¥6.23	n/a	3
Jun ’25	CN¥6.78	CN¥7.24 +6.8%	10.3%	CN¥8.00	CN¥6.23	n/a	3
May ’25	CN¥5.80	CN¥7.24 +24.9%	10.3%	CN¥8.00	CN¥6.23	n/a	3
Apr ’25	CN¥6.39	CN¥8.25 +29.1%	3.0%	CN¥8.50	CN¥8.00	n/a	2
Mar ’25	CN¥5.83	CN¥8.25 +41.5%	3.0%	CN¥8.50	CN¥8.00	n/a	2
Feb ’25	CN¥5.93	CN¥8.25 +39.1%	3.0%	CN¥8.50	CN¥8.00	n/a	2
Jan ’25	CN¥7.50	CN¥8.25 +10.0%	3.0%	CN¥8.50	CN¥8.00	n/a	2

Analyst Forecast: Target price is less than 20% higher than the current share price.

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