Haitian’s Profits Reaccelerated in 1H Driven by Robust Demand and Price Hike; FVE Lifts to CNY 38.50
We are lifting our fair value estimate to CNY 38.50 per share from CNY 37.00 for Foshan Haitian Flavouring and Food, or Haitian, and view the shares as fairly valued, following the release of first-half 2017 results that were ahead of our expectations, with revenue up 20.6%, operating profit up 19.6%, and net profit up 22.7% from the year-ago period. We revise up our 2017 revenue and gross margin forecasts to reflect Haitian’s upbeat first-half results, but also increase our selling expense rati...Foshan Haitian Flavouring and Food Company Ltd. is a China-based company, principally engaged in the manufacture and distribution of seasonings. The Company's products portfolio consists of soybean sauces, general sauces, oyster sauces, chicken essence seasonings, vinegar and others, with soybean sauces, general sauces and oyster sauces as its main products. Its general sauces are applied in barbecue sauces, hot pot sauces and others. Its oyster sauces are applied in cooking, salad dressings and others. The Company conducts its businesses mainly within domestic markets.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.