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1610

COFCO Joycome FoodsSEHK:1610 Stock Report

Last Price

HK$3.31

Market Cap

HK$12.9b

7D

0%

1Y

19.5%

Updated

20 Jan, 2022

Data

Company Financials +
1610 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance1/6
Financial Health4/6
Dividends0/6

1610 Stock Overview

COFCO Joycome Foods Limited, an investment holding company, primarily engages in the hog production and sales, and livestock slaughtering businesses in Mainland China.

Price History & Performance

Summary of all time highs, changes and price drops for COFCO Joycome Foods
Historical stock prices
Current Share PriceHK$3.31
52 Week HighHK$6.38
52 Week LowHK$2.11
Beta0.50
1 Month Change15.33%
3 Month Change9.97%
1 Year Change19.50%
3 Year Change122.15%
5 Year Change106.88%
Change since IPO99.40%

Recent News & Updates

Oct 18
COFCO Joycome Foods (HKG:1610) Has A Pretty Healthy Balance Sheet

COFCO Joycome Foods (HKG:1610) Has A Pretty Healthy Balance Sheet

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Shareholder Returns

1610HK FoodHK Market
7D0%-3.0%-0.2%
1Y19.5%-24.7%-16.2%

Return vs Industry: 1610 exceeded the Hong Kong Food industry which returned -24.7% over the past year.

Return vs Market: 1610 exceeded the Hong Kong Market which returned -16.2% over the past year.

Price Volatility

Is 1610's price volatile compared to industry and market?
1610 volatility
1610 Average Weekly Movement7.6%
Food Industry Average Movement5.5%
Market Average Movement6.7%
10% most volatile stocks in HK Market13.2%
10% least volatile stocks in HK Market3.0%

Stable Share Price: 1610 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 1610's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20028,131Jianong Xuhttps://www.cofcomeat.com

COFCO Joycome Foods Limited, an investment holding company, primarily engages in the hog production and sales, and livestock slaughtering businesses in Mainland China. The company operates through four segments: Hog Production, Fresh Pork, Processed Meat Products, and Meat Import. It is also involved in the production of feed; slaughtering, wholesale, and retail sale of fresh and frozen meats; manufacture, wholesale, and retail sale of processed meat products and fresh pork under the Maverick and Joycome brands; and sale of imported meat products, including pork, beef, poultry, and mutton, as well as by-products.

COFCO Joycome Foods Fundamentals Summary

How do COFCO Joycome Foods's earnings and revenue compare to its market cap?
1610 fundamental statistics
Market CapCN¥10.52b
Earnings (TTM)CN¥1.51b
Revenue (TTM)CN¥17.26b

6.9x

P/E Ratio

0.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
1610 income statement (TTM)
RevenueCN¥17.26b
Cost of RevenueCN¥11.19b
Gross ProfitCN¥6.06b
ExpensesCN¥4.55b
EarningsCN¥1.51b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.39
Gross Margin35.13%
Net Profit Margin8.78%
Debt/Equity Ratio73.1%

How did 1610 perform over the long term?

See historical performance and comparison

Valuation

Is COFCO Joycome Foods undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 1610 (HK$3.31) is trading below our estimate of fair value (HK$10.38)

Significantly Below Fair Value: 1610 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 1610 is good value based on its PE Ratio (6.9x) compared to the Hong Kong Food industry average (9.1x).

PE vs Market: 1610 is good value based on its PE Ratio (6.9x) compared to the Hong Kong market (9.1x).


Price to Earnings Growth Ratio

PEG Ratio: 1610 is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: 1610 is overvalued based on its PB Ratio (1.3x) compared to the HK Food industry average (1x).


Future Growth

How is COFCO Joycome Foods forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

5.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1610's forecast earnings growth (5.5% per year) is above the savings rate (1.5%).

Earnings vs Market: 1610's earnings (5.5% per year) are forecast to grow slower than the Hong Kong market (16.1% per year).

High Growth Earnings: 1610's earnings are forecast to grow, but not significantly.

Revenue vs Market: 1610's revenue (7.5% per year) is forecast to grow slower than the Hong Kong market (11.6% per year).

High Growth Revenue: 1610's revenue (7.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1610's Return on Equity is forecast to be low in 3 years time (17.9%).


Past Performance

How has COFCO Joycome Foods performed over the past 5 years?

51.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1610 has a large one-off loss of CN¥3.7B impacting its June 30 2021 financial results.

Growing Profit Margin: 1610's current net profit margins (8.8%) are lower than last year (22%).


Past Earnings Growth Analysis

Earnings Trend: 1610's earnings have grown significantly by 51.1% per year over the past 5 years.

Accelerating Growth: 1610's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1610 had negative earnings growth (-56.6%) over the past year, making it difficult to compare to the Food industry average (14.4%).


Return on Equity

High ROE: 1610's Return on Equity (17.9%) is considered low.


Financial Health

How is COFCO Joycome Foods's financial position?


Financial Position Analysis

Short Term Liabilities: 1610's short term assets (CN¥8.0B) do not cover its short term liabilities (CN¥8.5B).

Long Term Liabilities: 1610's short term assets (CN¥8.0B) exceed its long term liabilities (CN¥947.1M).


Debt to Equity History and Analysis

Debt Level: 1610's net debt to equity ratio (60.3%) is considered high.

Reducing Debt: 1610's debt to equity ratio has reduced from 85% to 73.1% over the past 5 years.

Debt Coverage: 1610's debt is well covered by operating cash flow (96.2%).

Interest Coverage: 1610's interest payments on its debt are well covered by EBIT (72.3x coverage).


Balance Sheet


Dividend

What is COFCO Joycome Foods's current dividend yield, its reliability and sustainability?

5.91%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 1610's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 1610's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 1610's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 1610's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 1610 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 1610's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

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

5.7yrs

Average management tenure


CEO

Jianong Xu (56 yo)

5.75yrs

Tenure

CN¥1,514,000

Compensation

Mr. Jianong Xu has been the Managing Director, General Manager and Executive Director at COFCO Joycome Foods Limited (formerly known as COFCO Meat Holdings Limited) since April 27, 2016 and since April 17,...


CEO Compensation Analysis

Compensation vs Market: Jianong's total compensation ($USD238.61K) is below average for companies of similar size in the Hong Kong market ($USD480.13K).

Compensation vs Earnings: Jianong's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: 1610's management team is seasoned and experienced (5.7 years average tenure).


Board Members

Experienced Board: 1610's board of directors are considered experienced (4 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

COFCO Joycome Foods Limited's employee growth, exchange listings and data sources


Key Information

  • Name: COFCO Joycome Foods Limited
  • Ticker: 1610
  • Exchange: SEHK
  • Founded: 2002
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Implied Market Cap: HK$12.916b
  • Shares outstanding: 3.90b
  • Website: https://www.cofcomeat.com

Number of Employees


Location

  • COFCO Joycome Foods Limited
  • COFCO Fortune Plaza
  • No.8, Chao Yang Men South Street
  • Beijing
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/20 16:14
End of Day Share Price2022/01/20 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.