Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Foshan Haitian Flavouring and Food

SHSE:603288
Snowflake Description

Outstanding track record with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
603288
SHSE
CN¥361B
Market Cap
  1. Home
  2. CN
  3. Food, Beverage & Tobacco
Company description

Foshan Haitian Flavouring and Food Company Ltd. The last earnings update was 13 days ago. More info.


Add to Portfolio Compare Print
  • Foshan Haitian Flavouring and Food has significant price volatility in the past 3 months.
603288 Share Price and Events
7 Day Returns
6.9%
SHSE:603288
5.9%
CN Food
1.6%
CN Market
1 Year Returns
53%
SHSE:603288
16.9%
CN Food
-8.9%
CN Market
603288 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Foshan Haitian Flavouring and Food (603288) 6.9% 26.6% 26.1% 53% 275.1% 249.7%
CN Food 5.9% 2.4% 9.5% 16.9% 52.7% 49.4%
CN Market 1.6% -10.6% -7.3% -8.9% -15.5% -28%
1 Year Return vs Industry and Market
  • 603288 outperformed the Food industry which returned 16.9% over the past year.
  • 603288 outperformed the Market in China which returned -8.9% over the past year.
Price Volatility
603288
Industry
5yr Volatility vs Market

Value

 Is Foshan Haitian Flavouring and Food undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Foshan Haitian Flavouring and Food to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Foshan Haitian Flavouring and Food.

SHSE:603288 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 23 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year CN Government Bond Rate 3.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SHSE:603288
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CN Govt Bond Rate 3.2%
Equity Risk Premium S&P Global 6.3%
Food Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.532 (1 + (1- 25%) (0.01%))
0.686
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (0.8 * 6.33%)
8.26%

Discounted Cash Flow Calculation for SHSE:603288 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Foshan Haitian Flavouring and Food is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SHSE:603288 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 8.26%)
2020 5,583.75 Analyst x4 5,157.53
2021 7,451.20 Analyst x5 6,357.09
2022 8,736.33 Analyst x3 6,884.57
2023 9,661.33 Est @ 10.59% 7,032.35
2024 10,470.13 Est @ 8.37% 7,039.34
2025 11,184.20 Est @ 6.82% 6,945.45
2026 11,825.51 Est @ 5.73% 6,783.15
2027 12,413.70 Est @ 4.97% 6,577.01
2028 12,965.07 Est @ 4.44% 6,344.81
2029 13,492.65 Est @ 4.07% 6,098.97
Present value of next 10 years cash flows CN¥65,220.00
SHSE:603288 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥13,492.65 × (1 + 3.2%) ÷ (8.26% – 3.2%)
CN¥274,968.60
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥274,968.60 ÷ (1 + 8.26%)10
CN¥124,291.78
SHSE:603288 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥65,220.00 + CN¥124,291.78
CN¥189,511.78
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥189,511.78 / 2,700.37
CN¥70.18
SHSE:603288 Discount to Share Price
Calculation Result
Value per share (CNY) From above. CN¥70.18
Current discount Discount to share price of CN¥133.85
= -1 x (CN¥133.85 - CN¥70.18) / CN¥70.18
-90.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Foshan Haitian Flavouring and Food is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Foshan Haitian Flavouring and Food's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Foshan Haitian Flavouring and Food's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SHSE:603288 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥1.98
SHSE:603288 Share Price ** SHSE (2020-04-07) in CNY CN¥133.85
China Food Industry PE Ratio Median Figure of 112 Publicly-Listed Food Companies 41.54x
China Market PE Ratio Median Figure of 3,200 Publicly-Listed Companies 32.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Foshan Haitian Flavouring and Food.

SHSE:603288 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SHSE:603288 Share Price ÷ EPS (both in CNY)

= 133.85 ÷ 1.98

67.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Foshan Haitian Flavouring and Food is overvalued based on earnings compared to the CN Food industry average.
  • Foshan Haitian Flavouring and Food is overvalued based on earnings compared to the China market.
Price based on expected Growth
Does Foshan Haitian Flavouring and Food's expected growth come at a high price?
Raw Data
SHSE:603288 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 67.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts
16.4%per year
China Food Industry PEG Ratio Median Figure of 59 Publicly-Listed Food Companies 1.44x
China Market PEG Ratio Median Figure of 1,274 Publicly-Listed Companies 1.27x

*Line of best fit is calculated by linear regression .

SHSE:603288 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 67.6x ÷ 16.4%

4.12x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Foshan Haitian Flavouring and Food is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Foshan Haitian Flavouring and Food's assets?
Raw Data
SHSE:603288 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥6.14
SHSE:603288 Share Price * SHSE (2020-04-07) in CNY CN¥133.85
China Food Industry PB Ratio Median Figure of 129 Publicly-Listed Food Companies 3.1x
China Market PB Ratio Median Figure of 3,691 Publicly-Listed Companies 2.26x
SHSE:603288 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SHSE:603288 Share Price ÷ Book Value per Share (both in CNY)

= 133.85 ÷ 6.14

21.8x

* Primary Listing of Foshan Haitian Flavouring and Food.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Foshan Haitian Flavouring and Food is overvalued based on assets compared to the CN Food industry average.
X
Value checks
We assess Foshan Haitian Flavouring and Food's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. Foshan Haitian Flavouring and Food has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Foshan Haitian Flavouring and Food expected to perform in the next 1 to 3 years based on estimates from 23 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Foshan Haitian Flavouring and Food expected to grow at an attractive rate?
  • Foshan Haitian Flavouring and Food's earnings growth is expected to exceed the low risk savings rate of 3.2%.
Growth vs Market Checks
  • Foshan Haitian Flavouring and Food's earnings growth is positive but not above the China market average.
  • Foshan Haitian Flavouring and Food's revenue growth is positive but not above the China market average.
Annual Growth Rates Comparison
Raw Data
SHSE:603288 Future Growth Rates Data Sources
Data Point Source Value (per year)
SHSE:603288 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts 16.4%
SHSE:603288 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 23 Analysts 14.3%
China Food Industry Earnings Growth Rate Market Cap Weighted Average 22.4%
China Food Industry Revenue Growth Rate Market Cap Weighted Average 16.8%
China Market Earnings Growth Rate Market Cap Weighted Average 20.8%
China Market Revenue Growth Rate Market Cap Weighted Average 15.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SHSE:603288 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SHSE:603288 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 30,490 9,030 8,813 16
2021-12-31 26,316 8,193 7,376 23
2020-12-31 22,695 6,131 6,265 22
2020-04-07
SHSE:603288 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 19,797 6,568 5,353
2019-09-30 19,147 6,396 5,069
2019-06-30 18,474 5,434 4,867
2019-03-31 17,830 5,595 4,639
2018-12-31 17,034 5,996 4,365
2018-09-30 16,450 5,411 4,124
2018-06-30 15,867 5,201 3,956
2018-03-31 15,268 5,268 3,757
2017-12-31 14,584 4,721 3,531
2017-09-30 14,344 4,421 3,343
2017-06-30 13,727 4,037 3,180
2017-03-31 13,045 3,756 3,010

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Foshan Haitian Flavouring and Food's earnings are expected to grow by 16.4% yearly, however this is not considered high growth (20% yearly).
  • Foshan Haitian Flavouring and Food's revenue is expected to grow by 14.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SHSE:603288 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below

All data from Foshan Haitian Flavouring and Food Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SHSE:603288 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 3.25 3.51 2.96 17.00
2021-12-31 2.73 2.88 2.47 24.00
2020-12-31 2.32 2.42 2.24 24.00
2020-04-07
SHSE:603288 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 1.98
2019-09-30 1.88
2019-06-30 1.81
2019-03-31 1.72
2018-12-31 1.62
2018-09-30 1.53
2018-06-30 1.46
2018-03-31 1.40
2017-12-31 1.31
2017-09-30 1.23
2017-06-30 1.18
2017-03-31 1.11

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Foshan Haitian Flavouring and Food is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Foshan Haitian Flavouring and Food's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the China market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the China market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Foshan Haitian Flavouring and Food has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Foshan Haitian Flavouring and Food performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Foshan Haitian Flavouring and Food's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Foshan Haitian Flavouring and Food's year on year earnings growth rate has been positive over the past 5 years.
  • Foshan Haitian Flavouring and Food's 1-year earnings growth exceeds its 5-year average (22.6% vs 18.8%)
  • Foshan Haitian Flavouring and Food's earnings growth has exceeded the CN Food industry average in the past year (22.6% vs 11%).
Earnings and Revenue History
Foshan Haitian Flavouring and Food's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Foshan Haitian Flavouring and Food Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SHSE:603288 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 19,796.89 5,353.19 2,452.72 587.43
2019-09-30 19,147.17 5,068.71 2,442.07 497.20
2019-06-30 18,474.39 4,866.97 2,428.95 527.13
2019-03-31 17,830.20 4,639.18 2,516.75 517.91
2018-12-31 17,034.48 4,364.81 2,481.57 493.01
2018-09-30 16,450.26 4,123.74 2,450.82 508.74
2018-06-30 15,866.78 3,956.27 2,205.29 638.76
2018-03-31 15,267.71 3,757.25 2,197.94 503.10
2017-12-31 14,584.31 3,531.44 2,161.60 401.67
2017-09-30 14,344.03 3,342.61 2,231.39 316.50
2017-06-30 13,727.36 3,180.40 2,396.27
2017-03-31 13,044.70 3,010.33 2,167.31
2016-12-31 12,458.56 2,843.13 2,073.44
2016-09-30 12,132.33 2,703.17 1,948.12
2016-06-30 11,817.26 2,655.59 1,770.31
2016-03-31 11,525.54 2,581.04 1,754.74
2015-12-31 11,294.38 2,504.87 1,728.41
2015-09-30 10,662.11 2,398.65 1,704.49
2015-06-30 10,436.29 2,330.03 1,650.61
2015-03-31 10,213.64 2,189.62 1,633.81
2014-12-31 9,817.19 2,090.28 1,509.74
2014-09-30 9,392.51 1,933.94 1,426.24
2014-06-30 9,025.73 1,837.98 1,379.18
2014-03-31 8,725.16 1,771.70 1,335.17
2013-12-31 8,401.59 1,606.42 1,317.87
2013-09-30 8,017.86 1,530.31 1,261.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Foshan Haitian Flavouring and Food has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Foshan Haitian Flavouring and Food used its assets more efficiently than the CN Food industry average last year based on Return on Assets.
  • Foshan Haitian Flavouring and Food has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Foshan Haitian Flavouring and Food's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Foshan Haitian Flavouring and Food has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Foshan Haitian Flavouring and Food's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Foshan Haitian Flavouring and Food's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Foshan Haitian Flavouring and Food is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Foshan Haitian Flavouring and Food's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Foshan Haitian Flavouring and Food's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1034.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Foshan Haitian Flavouring and Food Company Filings, last reported 3 months ago.

SHSE:603288 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 16,597.71 19.60 18,333.85
2019-09-30 15,078.76 19.60 15,022.72
2019-06-30 13,992.93 19.60 12,927.32
2019-03-31 15,365.47 19.60 14,595.62
2018-12-31 13,887.83 19.60 9,457.59
2018-09-30 12,613.40 14.60 6,300.52
2018-06-30 11,730.17 13.40 9,973.02
2018-03-31 12,966.82 13.40 5,791.12
2017-12-31 11,764.17 0.00 10,694.23
2017-09-30 10,737.32 5.00 2,975.56
2017-06-30 10,016.42 13.40 6,991.48
2017-03-31 11,001.38 17.39 5,043.71
2016-12-31 10,013.77 0.00 7,828.22
2016-09-30 9,189.71 0.00 3,086.19
2016-06-30 8,636.29 0.00 5,121.06
2016-03-31 7,951.29 0.00 4,338.60
2015-12-31 8,751.13 0.00 6,025.79
2015-09-30 8,072.10 0.00 3,140.57
2015-06-30 7,553.64 0.00 4,311.79
2015-03-31 6,959.56 0.00 4,370.44
2014-12-31 7,487.91 0.00 5,735.58
2014-09-30 6,920.43 0.00 3,103.56
2014-06-30 6,474.53 53.50 3,518.46
2014-03-31 6,386.61 0.00 3,618.41
2013-12-31 3,914.44 0.00 2,264.84
2013-09-30 3,513.17 0.00 778.98
  • Foshan Haitian Flavouring and Food's level of debt (0.1%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Foshan Haitian Flavouring and Food's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (33508%, greater than 20% of total debt).
  • Foshan Haitian Flavouring and Food earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Foshan Haitian Flavouring and Food's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Foshan Haitian Flavouring and Food has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Foshan Haitian Flavouring and Food's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.81%
Current annual income from Foshan Haitian Flavouring and Food dividends. Estimated to be 1.08% next year.
If you bought CN¥2,000 of Foshan Haitian Flavouring and Food shares you are expected to receive CN¥16 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Foshan Haitian Flavouring and Food's pays a higher dividend yield than the bottom 25% of dividend payers in China (0.46%).
  • Foshan Haitian Flavouring and Food's dividend is below the markets top 25% of dividend payers in China (2.03%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SHSE:603288 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below
China Food Industry Average Dividend Yield Market Cap Weighted Average of 82 Stocks 1.4%
China Market Average Dividend Yield Market Cap Weighted Average of 2587 Stocks 1.9%
China Minimum Threshold Dividend Yield 10th Percentile 0.2%
China Bottom 25% Dividend Yield 25th Percentile 0.5%
China Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SHSE:603288 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.00 1.00
2022-12-31 1.55 13.00
2021-12-31 1.62 18.00
2020-12-31 1.27 18.00
2020-04-07
SHSE:603288 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2020-03-25 1.080 0.906
2019-04-25 0.980 0.941
2018-04-19 0.850 1.193
2017-04-18 0.680 1.471
2016-04-11 0.600 1.941
2015-03-09 0.472 1.471
2014-03-25 0.278 1.338

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Foshan Haitian Flavouring and Food has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Foshan Haitian Flavouring and Food only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Foshan Haitian Flavouring and Food's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Foshan Haitian Flavouring and Food's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Foshan Haitian Flavouring and Food afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Foshan Haitian Flavouring and Food has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Foshan Haitian Flavouring and Food's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Kang Pang
COMPENSATION CN¥4,849,600
AGE 62
CEO Bio

Mr. Kang Pang serves as the Chairman and President of Foshan Haitian Flavouring and Food Company Ltd. Mr. Pang serves as Chairman of the board in Guangdong Haitian Group Co., Ltd. and Foshan Haitian (Gao Ming) Flavouring & Food Co., Ltd. He serves as Director of New Haitian (Hong Kong) Development Co., Ltd.

CEO Compensation
  • Kang's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Kang's remuneration is higher than average for companies of similar size in China.
Management Team

Kang Pang

TITLE
Chairman & President
COMPENSATION
CN¥5M
AGE
62

Xue Cheng

TITLE
Vice Chairman & Executive VP
COMPENSATION
CN¥5M
AGE
49

Yong Le Zhang

TITLE
Chief Financial Officer
COMPENSATION
CN¥975K
AGE
39

Xin Zhang

TITLE
Secretary of the Board of Directors
COMPENSATION
CN¥1M
AGE
43

Wen Biao Huang

TITLE
VP & Director
COMPENSATION
CN¥3M
AGE
51

Zhen Xing Wu

TITLE
VP & Director
COMPENSATION
CN¥2M
AGE
50
TENURE
4.7 yrs
Board of Directors

Xue Cheng

TITLE
Vice Chairman & Executive VP
COMPENSATION
CN¥5M
AGE
49

Wen Biao Huang

TITLE
VP & Director
COMPENSATION
CN¥3M
AGE
51

Zhen Xing Wu

TITLE
VP & Director
COMPENSATION
CN¥2M
AGE
50

Zhi Zhou Wen

TITLE
Chairman of Supervisory Board
COMPENSATION
CN¥531K
AGE
41

Kang Pang

TITLE
Chairman & President
COMPENSATION
CN¥5M
AGE
62

Yan Qiao Ye

TITLE
Director
COMPENSATION
CN¥717K
AGE
49

Jun Yang Chen

TITLE
Director
COMPENSATION
CN¥1M
AGE
43

Tao Zhu

TITLE
Independent Director
COMPENSATION
CN¥120K
AGE
43

Li Sun Zhan

TITLE
Independent Director
COMPENSATION
CN¥120K
AGE
49

Chao Gang

TITLE
Independent Director
COMPENSATION
CN¥120K
AGE
51
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CN¥) Value (CN¥)
X
Management checks
We assess Foshan Haitian Flavouring and Food's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Foshan Haitian Flavouring and Food has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Foshan Haitian Flavouring and Food Company Ltd. produces and sells flavorings and food products in China. It provides soy sauce, oyster sauce, paste, vinegar, cooking wine, granulated chicken bouillon, fermented beancurd, seasoning extract, chicken powder seasoning, sesame oil, monosodium glutamate, pickle, and grain products, as well as drinks and gift boxes. The company also exports its products to approximately 60 countries and regions worldwide. Foshan Haitian Flavouring and Food Company Ltd. was founded in 1955 and is based in Foshan, China.

Details
Name: Foshan Haitian Flavouring and Food Company Ltd.
603288
Exchange: SHSE
Founded: 1955
CN¥361,444,436,159
2,700,369,340
Website: http://www.haitian-food.com
Address: Foshan Haitian Flavouring and Food Company Ltd.
No. 16 Wensha Road,
Foshan,
Guangdong Province, 528000,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SHSE 603288 Domestic Shares Shanghai Stock Exchange CN CNY 11. Feb 2014
XSSC 603288 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 11. Feb 2014
Number of employees
Current staff
Staff numbers
5,554
Foshan Haitian Flavouring and Food employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 16:54
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/03/25
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.