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China Galaxy Securities: 24Q2 pig prices or trends are improving, focus on breeding industry chain opportunities
Taking into account the length of losses in the industry, the extent of elimination of breeding sows, and the current situation of the spread of the winter epidemic, the historical low valuation of the industry is taken into account, and the focus is on high-quality pig companies with leading cost control and good financial resources.
Southwest Securities released a research report on April 28 stating that it gave Lihua Co., Ltd. (300761.SZ) a purchase rating, and the target price was 26.1 yuan. The main reasons for the rating include: 1) performance summary: the company released the 2
Southwest Securities released a research report on April 28 stating that it gave Lihua Co., Ltd. (300761.SZ) a purchase rating, and the target price was 26.1 yuan. The main reasons for the rating include: 1) performance summary: the company released the 2023 annual report & 2024 first quarter report; 2) comments: breeding performance continues to improve, turning a loss into a profit in 2024Q1; 3) the industry has low production capacity and high prosperity is sustainable; 4) the company is the second-largest yellow feather chicken breeding enterprise in China, with strong cost control capabilities; 5) pig capacity utilization is expected to increase, and breeding performance will improve significantly. (Mainichi Keizai Shimbun)
Lihua Co., Ltd. (300761): Farming performance continues to improve, turning losses into profits in 2024Q1
Performance summary: The company released the 2023 Annual Report & 2024 First Quarter Report. In 2023, the company's revenue was 15.354 billion yuan, +6.28% year-on-year; net profit to mother was -437 million yuan, 2022
Guoxin Securities released a research report on April 24 stating that it maintains the purchase rating of Lihua Shares (300761.SZ). The main reasons for the rating include: 1) the recovery in livestock and poultry prices, the decline in raw material costs
Guoxin Securities released a research report on April 24 stating that it maintains the purchase rating of Lihua Shares (300761.SZ). The main reasons for the rating include: 1) the recovery in livestock and poultry prices, the decline in raw material costs, and the year-on-year improvement in 2024Q1 performance; 2) short-term pressure on profit margins and stable expense ratios; 3) net operating cash flow remains positive and asset turnover remains at a reasonable level. (Mainichi Keizai Shimbun)
Lihua Co., Ltd. (300761): Steady expansion, cost maintenance and improvement
Livestock and poultry prices picked up, raw material costs declined, and 2024Q1 performance improved year on year. The company achieved operating income of 15.354 billion yuan in 2023, an increase of 6.28% over the same period last year, and achieved net profit attributable to the owners of the parent company
Donghai Securities released a research report on April 23 stating that it gave Lihua Co., Ltd. (300761.SZ) a purchase rating. The main reasons for the rating include: 1) the yellow feather chicken business grew steadily and became profitable in 2023; 2) t
Donghai Securities released a research report on April 23 stating that it gave Lihua Co., Ltd. (300761.SZ) a purchase rating. The main reasons for the rating include: 1) the yellow feather chicken business grew steadily and became profitable in 2023; 2) there is still room for reduction in pig breeding costs; 3) profitability improved significantly in Q1 in 2024. (Mainichi Keizai Shimbun)
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