fu-wang foods ltd. analysis
TRANSCRIPT
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Particulars 2007-08
Turnover 384,463,424
Cost of goods sold 316,992,595Gross proft 67,470,829
Operating expenses!d"inistrating and selling expenses# 32,035,478
Operating proft 35,435,351
$on operating in%o"e
&inan%ial expenses 10,736,840
Contri'ution to ()* and +elfare fund 1,176,120
Net proft beore tax 23,522,391
*rovision for in%o"e tax 9,408,956
Net proft ater tax 14,113,435
Proft brought orward 24,532,41338,645,848
*roposed %as dividend 6,697,830
*roposed sto%- dividend
Proft carried orward 31,948,018
.arning per sare 0)77
/epre%iation 10,397,271
&inan%ial expenses 10,736,840
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2008-09 2009-0 200- 20-2 202-!
522,439,574 539,554,916 709,168,568 758,459,050 785,126,525
434,969,289 444,958,348 530,277,616 577,224,631 605,396,10887,470,285 94,596,568 178,890,952 181,234,419 179,730,417
45,682,512 48,455,746 61,363,400 67,133,875 72,018,132
41,787,773 46,140,822 117,527,552 114,100,544 107,712,285
1,000,000 1,200,000 1,200,000 723,411
11,529,037 8,476,882 8,666,372 5,213,605 11,682,763
1,488,511 1,850,664 5,241,009 5,185,092 4,607,283
29,770,225 37,013,276 104,820,171 103,701,847 92,145,650
8,186,812 10,178,651 25,942,992 28,518,008 23,252,149
21,583,413 26,834,625 78,877,179 75,183,839 61,724,154
31,948,018 53,531,431 61,966,056 100,363,235 86,491,07453,531,431 80,366,056 140,843,235 175,547,074 148,215,228
18,400,000 40,480,000 89,056,000 59,845,630
53,531,431 61,966,056 100,363,235 86,491,074 88,369,598
1)17 0)65 1)92 1)26 1)03
13,816,703 14,103,429 21,364,294 23,620,080 153,483,567
11,529,037 8,476,882 8,666,372 5,213,605 11,682,763
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Particulars 2007-08
N"# $%%"#%
Non-current asset 191,314,221
Tangi'le xed asset$et of a%%u"ulated depre%iation# 191,307,221
Capital +or- in progressTrade "ar-s 7,000
&n'est(ent 50,000,000
)urrent assets 222,880,222
nventories 79,285,401
undr de'tors 58,476,200
oans,advan%es and deposits 73,496,882
Cas and %as euivalents 11,621,739
#otal asset ***
)urrent liabilities and pro'isions 180,000,955
Credits,sort ter" 'an- loansse%ured 58,167,755
ia'ilities for expenses 6,173,446
Trade and oter paa'les 46,232,972
*roposed dividend 6,697,830
*rovision for in%o"e tax 62,728,952
%hareholders e+uit, 234,193,488
are %apital 184,000,000
Tax olida reserve 18,245,470
Capital reserve
etained earnings 31,948,018
#otal liabilities andshareholders e+uit, ***
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2008-09 2009-0 200- 20-2 202-!
257,102,135 284,284,230 387,920,056 475,165,649 483,426,876
257,095,135 284,277,230 387,913,056 413,901,715 450,840,954
61,256,934 32,578,9227,000 7,000 7,000 7,000 7,000
50,000,000 50,000,000 50,000,000 50,000,000 50,000,000
222,835,498 258,593,052 471,814,728 474,731,242 536,967,808
60,510,390 63,978,805 100,367,939 128,761,124 141,512,216
57,794,689 59,343,138 100,067,414 116,404,833 134,991,873
83,972,706 109,357,268 173,848,641 219,428,454 241,017,807
20,557,713 25,913,841 97,530,734 10,136,831 19,445,912
*** *** *** *** ***
224,160,732 260,265,756 245,131,079 260,109,346 261,713,638
109,491,742 72,204,786 63,004,233 66,497,124 53,324,095
2,757,315 3,208,715 6,028,902 5,269,145 7,363,409
40,995,911 103,757,840 69,060,537 52,787,662 42,218,570
70,915,764 81,094,415 107,037,407 135,555,415 158,807,564
255,776,901 282,611,526 664,603,705 739,787,545 777,765,305
184,000,000 202,400,000 445,280,000 534,336,000 598,456,320
18,245,470 18,245,470 18,245,470 18,245,470 18,245,470
95,679,250 90,895,288 62,604,130
53,531,431 61,966,056 105,398,985 96,310,787 98,459,386
*** *** *** *** ***
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Particulars
Gross proft
Operating proft
Net proft beore tax
Net proft ater tax
Proft brought orward
Proft carried orward
Particulars
Gross proft
Operating proft
Net proft beore tax
Net proft ater tax
Proft brought orward
Proft carried orward
Particulars
Gross proft
Operating proft
Net proft beore tax
Net proft ater tax
Proft brought orward
Proft carried orward
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&ncrease or .ecrease/200- 20-2 $(ount Percentage
178,890,952 181,234,419 2,343,467 0)013
117,527,552 114,100,544 3,427,008 0)029
104,820,171 103,701,847 1,118,324 0)011
78,877,179 75,183,839 3,693,340 0)047
61,966,056 100,363,235 38,397,179 0)620
100,363,235 86,491,074 13,872,161 0)138
200- 20-2 202-!
178,890,952 181,234,419 179,730,417
117,527,552 114,100,544 107,712,285
104,820,171 103,701,847 92,145,650
78,877,179 75,183,839 61,724,154
61,966,056 100,363,235 86,491,074
100,363,235 86,491,074 56,069,578
200- to 20-220-2 to 202-!
0)013 0)008
0)029 0)056
0)011 0)111
0)047 0)179
0)620 0)138
0)138 1)648
6100,000,000
650,000,000
0
50,000,000
100,000,000
150,000,000
200,000,000
1)500
1)000
0)500
0)000
0)500
1)000
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)
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&ncrease or .ecrease/20-2 202-! $(ount Percentage
181,234,419 179,730,417 1,504,002 0)008
114,100,544 107,712,285 6,388,259 0)056
103,701,847 92,145,650 11,556,197 0)111
75,183,839 61,724,154 13,459,685 0)179
100,363,235 86,491,074 13,872,161 0)138
86,491,074 56,069,578 142,560,652 1)648
2010611
2011612
2012613
201011 to 201112
201112 to 201213
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Particulars
N"# $%%"#%
Non-current asset
&n'est(ent
)urrent assets
#otal asset
)urrent liabilities and pro'isions
Non- )urrent iabilities
%hareholders e+uit,
#otal liabilities andshareholders e+uit,
Particulars
Non-current asset
&n'est(ent
)urrent assets
#otal asset
)urrent liabilities and pro'isions
Non- )urrent iabilities
%hareholders e+uit,
#otal liabilities andshareholders e+uit,
Particulars
Non-current asset
&n'est(ent
)urrent assets
#otal asset
)urrent liabilities and pro'isions
%hareholders e+uit,
#otal liabilities andshareholders e+uit,
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&ncrease or .ecrease/
200- 20-2 $(ount Percentage
387,920,056 475,165,649 87,245,593 0)225
50,000,000 50,000,000 0 0)000
471,814,728 474,731,242 2,916,514 0)006
*** 999189189 90,162,107 0)099
245,131,079 260,109,346 14,978,267 0)061
0 0 0
664,603,705 739,787,545 75,183,840 0)113
*** 999189189 90,162,107 0)099
200- 20-2 202-!
387,920,056 475,165,649 483426876
50,000,000 50,000,000 50000000
471,814,728 474,731,242 536967808
*** 999189189 070!9383
245,131,079 260,109,346 261713638
0 0 30915741
664,603,705 739,787,545 777765305
*** 999189189 070!9383
200- to 20-220-2 to 202-!
0)225 0)017
0)000 0)000
0)006 0)131
0)099 0)071
0)061 0)006
0)113 0)051
0)099 0)071
200,0
400,0
600,0
800,0
1,000,01,200,0
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&ncrease or .ecrease/
20-2 202-! $(ount Percentage
475,165,649 483,426,876 8,261,227 0)017
50,000,000 50,000,000 0 0)000
474,731,242 536,967,808 62,236,566 0)131
*** *** 70,497,793 0)071
260,109,346 261,713,638 1,604,292 0)006
0 30,915,741 30,915,741
739,787,545 777,765,305 37,977,760 0)051
*** *** 70,497,793 0)071
0
0,000
0,000
0,000
0,000
0,0000,000
201011
201112
201213
0)000
0)050
0)100
0)150
0)200
0)250
2010611 to 2011612
2011612 to 2012613
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*arti%ulars
ross prot
Operating prot
$et prot 'efore tax
$et prot after tax*rot 'rougt for+ard
*rot %arried for+ard
4ertical $nal,sis
Turnover
ross prot
Operating prot
$et prot 'efore tax$et prot after tax
*rot 'rougt for+ard
*rot %arried for+ard
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201011 201112 201213
178890952 181234419 179730417
117527552 114100544 107712285
104820171 103701847 92145650
78877179 75183839 6172415461966056 100363235 86491074
100363235 86491074 56069578
201011 201112 201213
709168568 758459050 785126525
0)25225449 0)23895083 0)22891905
0)16572583 0)15043732 0)13719099
0)14780713 0)13672702 0)117364080)11122487 0)09912709 0)07861682
0)08737846 0)13232519 0)11016196
0)1415224 0)11403526 0)0714147
60)1
60)05
0
0)05
0)1
0)15
0)2
0)25
0)3
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2010611
2011612
2012613
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*arti%ulars
$on%urrent asset
nvest"ent
Current assets
Total asset
Current lia'ilities and provisions
$on Current ia'ilities
areolders euit
Total lia'ilities andsareolders euit
4ertical $nal,sis
Total asset
Total lia'ilities andsareolders euit
$on%urrent asset
nvest"ent
Current assets
Current lia'ilities and provisions
$on Current ia'ilities
areolders euit
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201011 201112 201213
387920056 475165649 483426876
50000000 50000000 50000000
471814728 474731242 536967808
909734784 999896891 1070394684
245131079 260109346 261713638
0 0 30915741
664603705 739787545 777765305
909734784 999896891 1070394684
201011 201112 201213
909734784 999896891 1070394684
909734784 999896891 1070394684
0)426 0)475 0)452
0)055 0)050 0)047
0)519 0)475 0)502
0)269 0)260 0)245
0)000 0)000 0)029
0)731 0)740 0)727
0)0000)1000)2000)3000)4000)5000)6000)7000)800
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201011
201112
201213
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5inancial 6atio $nal,sis 200- 20-2 202-!
Proftabilit, 6atio
*rot argin 0)1112 0)0991 0)0786
eturn on !ssets 0)0917 0)0752 0)0577
eturn on .uit 0)1187 0)1016 0)0794i+uidit, 6atio
Current atio 1)9247 1)8251 2)0517
:ui%- atio 1)5153 1)3301 1)5110
$cti'it,"cienc, 6atio
e%eiva'le Turnover 8)8974 7)0074 6)2461
nventor Turnover 6)4532 5)0384 4)4799
&ixed !sset Turnover 1)8282 1)8325 1)7415
Total !sset Turnover 0)8249 0)7585 0)7335
e'erage%ol'enc, 6atio
/e't to Total !sset 0)2695 0)2601 0)2734/e't to .uit atio 0)3688 0)3516 0)3762
0)00001)00002)00003)00004)00005)00006)00007)00008)00009)0000
10)0000
2010
2011
2012
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*rot argin eturn on !ssets eturn on .uit
0)0000
0)0200
0)0400
0)0600
0)0800
0)1000
0)1200
0)1400
Current atio :ui%- atio
0)0000
0)5000
1)0000
1)5000
2)0000
2)5000
1
2
3
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201011
201112
201213
201011
201112
201213
/e't to Total !sset /e't to .uit atio
0)0000
0)0500
0)1000
0)1500
0)2000
0)2500
0)3000
0)3500
0)4000
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201011
201112
201213