New Hope Liuhe Co Ltd

New Hope Liuhe Co Ltd maintains a highly leveraged capital structure, with total liabilities of 92.03 billion CNY against total equity of 22.20 billion CNY, resulting in a debt-to-equity ratio of 2.73. The company holds 60.59 billion CNY in long-term debt, which significantly outweighs its equity base. Liquidity is constrained, evidenced by a current ratio of 0.49, indicating that current liabilities exceed current assets. Despite generating 9.38 billion CNY in operating cash flow, the company reports negative free cash flow of -1.86 billion CNY due to capital expenditures of 2.13 billion CNY. The market capitalization stands at 32.15 billion CNY, with a price-to-book ratio of 1.45.

Profitability metrics are negative across the board, reflecting operational challenges. The company reports a net income of -1.78 billion CNY and an operating income of -1.13 billion CNY on revenues of 106.86 billion CNY. Return on equity is -14.08%, and return on assets is -2.74%. The gross profit of 6.33 billion CNY suggests thin margins relative to the top-line revenue. The enterprise value to EBITDA ratio is negative at -41.83, highlighting the current unprofitability. The enterprise value to revenue ratio is 0.85, indicating the market values the company at less than one year of sales.

Segment and geographic data are not provided in the available input, preventing a detailed analysis of revenue concentration or regional exposure. The company's activity is broadly classified under Food Products, but specific segment contributions to the 106.86 billion CNY revenue are not disclosed in the current dataset.

Historical period data is absent from the input, limiting the ability to assess growth trajectories or trend reversals. The current financial snapshot shows a significant operating loss, but without historical context, the persistence or severity of this trend cannot be quantified against prior periods.

Risk assessment indicates medium liquidity risk and low dilution risk. A key flag notes that net cash is negative after subtracting total debt, reinforcing the leverage concerns. The current ratio of 0.49 further underscores short-term liquidity pressures. The company's ability to service its 60.59 billion CNY long-term debt obligation is a primary concern given the negative operating income.

Recent IR observations show a mean analyst price target of 6.90 CNY, which is below the current market price of 7.14 CNY. The median price target is 6.50 CNY, with a high of 8.10 CNY and a low of 6.10 CNY. The mean recommendation is 3.00, indicating a neutral stance, with one buy rating and one hold rating among analysts. There are no strong buy recommendations.

Revenue reached CNY 106.9 billion in FY2026, demonstrating significant scale despite a 4.1% four-year CAGR decline.

Gross profit remained robust at CNY 6.3 billion in FY2026, indicating underlying operational resilience before operating expenses.

Long-term debt decreased to CNY 60.6 billion in FY2026, showing a gradual reduction in leverage from previous years.

Dilution risk is assessed as low, providing some stability for existing shareholders regarding equity structure changes.

The company carries a high credit risk flag, indicating significant concerns regarding its ability to meet debt obligations.

Return on equity stands at -14.08%, placing the company in the bottom quartile compared to its peer cohort.

Revenue ¥27.29B, +11,8% YoY; Operating income −194,1% YoY.

• ▍Revenue ¥27.29B, +11,8% YoY
• ▍Operating income −194,1% YoY
• ▍Net income −301,9% YoY
• ▍Net margin -3.3%

Revenue ¥26.35B, +1,9% YoY; Operating income −559,0% YoY.

• ▍Revenue ¥26.35B, +1,9% YoY
• ▍Operating income −559,0% YoY
• ▍Net income −894,3% YoY
• ▍Net margin -9.7%

Revenue ¥28.88B, +4,5% YoY; Operating income −82,5% YoY.

• ▍Revenue ¥28.88B, +4,5% YoY
• ▍Operating income −82,5% YoY
• ▍Net income −99,6% YoY
• ▍Net margin 0.0%

Revenue ¥27.21B, +6,0% YoY; Operating income −38,0% YoY.

• ▍Revenue ¥27.21B, +6,0% YoY
• ▍Operating income −38,0% YoY
• ▍Net income −56,7% YoY
• ▍Net margin 1.1%

Revenue ¥24.42B; Operating income ¥659.5M.

• ▍Revenue ¥24.42B
• ▍Operating income ¥659.5M
• ▍Net margin 1.8%

Revenue ¥106.86B, +3,7% YoY; Operating income −338,0% YoY.

• ▍Revenue ¥106.86B, +3,7% YoY
• ▍Operating income −338,0% YoY
• ▍Net income −476,8% YoY
• ▍Free cash flow −257,3% YoY
• ▍Net margin -1.7%

Revenue ¥103.06B, −27,3% YoY; Operating income +163,4% YoY.

• ▍Revenue ¥103.06B, −27,3% YoY
• ▍Operating income +163,4% YoY
• ▍Net income +90,0% YoY
• ▍Free cash flow +81,8% YoY
• ▍Net margin 0.5%

Revenue ¥141.70B, +0,1% YoY; Operating income +48,5% YoY.

• ▍Revenue ¥141.70B, +0,1% YoY
• ▍Operating income +48,5% YoY
• ▍Net income +117,1% YoY
• ▍Free cash flow +51,2% YoY
• ▍Net margin 0.2%

Revenue ¥141.51B, +12,1% YoY; Operating income +82,8% YoY.

• ▍Revenue ¥141.51B, +12,1% YoY
• ▍Operating income +82,8% YoY
• ▍Net income +84,8% YoY
• ▍Free cash flow +74,8% YoY
• ▍Net margin -1.0%

Revenue ¥126.26B; Operating income -¥8.52B.

• ▍Revenue ¥126.26B
• ▍Operating income -¥8.52B
• ▍Net margin -7.6%