Food manufacturing includes grain processing, vegetable oil processing, sugar producing, slaughtering, meat and egg processing, aquatic product processing, edible salt processing and other food processing.
In 2016, the revenue of main businesses of food manufacturers above designated size (annual sales revenue over CNY 20 million) amounted to CNY 11,098.62 billion, up by 6.5% YOY. Their profits totaled at CNY 724.77 billion, up by 6.1% YOY.
Although China has a huge food manufacturing industry, it still imports considerable amounts of processed food, among which dairy products take up a significant portion, according to CRI. On January 1, 2016, China adjusted import and export tariffs and expanded the application of tariff reductions on daily commodities. Temporary rates were applied to reduce tariffs on products which used to have high tariffs and flexible import demand, including infant milk powder. Import tariff on whey-protein partially hydrolyzed infant formula, extensively hydrolyzed infant formula, amino acid-based formula and lactose free formula was reduced substantially from 20% to 5% and that on infant milk powder in retail pack was reduced from 15% to 5%. The 15% tariff on other infant food was also cut to 5%.
In recent years, the frequent occurrence of food safety accidents has prompted the Chinese government to tighten policies on food safety.
The improving economy and increasing resident's income have brought about upgrading of consumers' demand for food, promoting the development of the food industry.
In this report, CRI analyzes 17 food producers listed in A-share market in China.
The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).
The operation status is demonstrated from the following perspectives: (1)financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.
(1) Financial Indexes
- Earnings per Share
- Book Value per Share (BPS)
- Sales per Share (SPS)
- Net Cash Flow per Share from Operations
- Net Cash Flow per Share (CNY)
- Return on Net Worth
- Net Profit Margin on Total Assets
- Return on Invested Capital (ROIC) (%)
- Gross Profit Margin on Sales (%)
- Net Profit Margin on Sales (%)
- EBIT Margin (%)
- EBITDA Margin (%)
- Debt to Asset Ratio (%)
- Total Asset Turnover (times)
- Cash/Operating Income Received from Sales of Goods or Services
- YOY Growth Rate of Operating Revenue (%)
- YOY Growth Rate of Operating Profit (%)
- YOY Growth Rate of Net Profit Attributable to Shareholders of Parent Company (%)
(2) Summary of Income Statement
- Gross Revenue (CNY, million)
- Total Operating Costs (CNY, million)
- Revenue (CNY, million)
- Operating Profit (CNY, million)
- Total Profit (CNY, million)
- Net Profit (CNY, million)
- Net Profit Attributable to Shareholders of Parent Company (CNY, million)
- Non-recurring Items (CNY, million)
- Net Profit Deducting Non-recurring Items (CNY, million)
- R&D Costs (CNY, million)
- Earnings Before Interest and Tax (EBIT) (CNY, million)
- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (CNY, million)
(3) Summary of Balance Sheet
- Liquid Asset (CNY, million)
- Fixed Asset (CNY, million)
- Long-term Equity Investment
- Total Assets (CNY, million)
- Liquid Liability (CNY, million)
- Non-current Liability (CNY, million)
- Total Liability (CNY, million)
- Capital Reserve (CNY, million)
- Surplus Reserve (CNY, million)
- Undistributed Profit (CNY, million)
- Shareholders' Equity (CNY, million)
- Equity Attributable to Shareholders of Parent Company (CNY, million)
(4) Summary of Cash Flow Statement
- Cash Received from Sales of Goods and Services (CNY, million)
- Cash Flow from Operations (CNY, million)
- Cash Paid to Purchase Fixed Assets, Intangible Assets and Other Long-term Assets (CNY, million)
- Cash Paid for Investments (CNY, million)
- Cash Flow from Investments (CNY, million)
- Cash Received from Investors (CNY, million)
- Cash Received from Borrowings (CNY, million)
- Cash Flow from Financing (CNY, million)
- Net Increase of Cash and Cash Equivalents (CNY, million)
- Cash and Cash Equivalents, End of Period (CNY, million)
- Depreciation and Amortization (CNY, million)
Companies in the report:
1 Shanghai Maling Aquarius Co., Ltd. (600073.SH)
2 Apple Flavor & Fragrance Group Co., Ltd. (603020.SH)
3 Shenyang Toly Bread Co., Ltd. (603866.SH)
4 Ganso Co., Ltd. (603886.SH)
5 Nanfang Black Sesame Group Co., Ltd. (000716.SZ)
6 Hna-Caissa Travel Group Co., Ltd. (000796.SZ)
7 Sanquan Food Co., Ltd. (002216.SZ)
8 Yantai Shuangta Food Co., Ltd. (002481.SZ)
9 Chongqing Fuling Zhacai Group Co., Ltd. (002507.SZ)
10 Chacha Food Company, Limited (002557.SZ)
11 Shanghai Bairun Investment Holding Group Co., Ltd. (002568.SZ)
12 Haoxiangni Jujube Co., Ltd. (002582.SZ)
13 Kemen Noodle Manufacturing Co., Ltd. (002661.SZ)
14 Haixin Foods Co., Ltd. (002702.SZ)
15 Tianjin Guifaxiang 18th Street Mahua Food Co., Ltd. (002820.SZ)
16 Yankershop Food Co., Ltd. (002847.SZ)
17 By-Health Co., Ltd. (300146.SZ)
1 Shanghai Maling Aquarius Co., Ltd. (600073.SH)
2 Apple Flavor & Fragrance Group Co., Ltd. (603020.SH)
3 Shenyang Toly Bread Co., Ltd. (603866.SH)
4 Ganso Co., Ltd. (603886.SH)
5 Nanfang Black Sesame Group Co., Ltd. (000716.SZ)
6 Hna-Caissa Travel Group Co., Ltd. (000796.SZ)
7 Sanquan Food Co., Ltd. (002216.SZ)
8 Yantai Shuangta Food Co., Ltd. (002481.SZ)
9 Chongqing Fuling Zhacai Group Co., Ltd. (002507.SZ)
10 Chacha Food Company, Limited (002557.SZ)
11 Shanghai Bairun Investment Holding Group Co., Ltd. (002568.SZ)
12 Haoxiangni Jujube Co., Ltd. (002582.SZ)
13 Kemen Noodle Manufacturing Co., Ltd. (002661.SZ)
14 Haixin Foods Co., Ltd. (002702.SZ)
15 Tianjin Guifaxiang 18th Street Mahua Food Co., Ltd. (002820.SZ)
16 Yankershop Food Co., Ltd. (002847.SZ)
17 By-Health Co., Ltd. (300146.SZ)
