Financial Analysis And Stock Valuation Of Muyuan Co.,Ltd

Since the reform and opening up,with the growth of China’s population and the continuous improvement of people’s living standards,China has become the world’s largest pork consumption country.In recent years,pork accounts for more than 60% of China’s meat production,and pork has become the main source of meat for Chinese residents.Which is not adapted to the huge market capacity is that,compared with the developed countries,concentration of China’s pig breeding industry is not high and the production efficiency is low.In 2019,the General Office of the State Council issued the Opinions on Stable Pig Production and Promotion of Transformation and Upgrading,proposing to build a modern breeding system and accelerate the transformation and upgrading of the industry.As the "first stock in pig breeding",Muyuan Foods Co.,Ltd.(hereinafter referred to as "Muyuan Foods",002714.SZ)has been adhering to the industry-leading integrated business model of self-breeding and self-breeding for a long time.With the gradual improvement of the scale of the industry,Muyuan Foods is actively expanding its production capacity,and the stock prices have performed brightly.At the same time,the fixed assets/sales income ratio and gross profit margin of Muyuan Foods are much higher than those of other pig enterprises.The phenomenon of big deposit and big loan,and the sharp increase of short and long-term loan also attracts the attention of market investors.This paper collected the financial data and relevant industry information of Muyuan Foods from 2015 to 2019,analyzed the current situation and development trend of the pig breeding industry,adopted financial analysis method to analyze the operation and financial situation of Muyuan Foods,and studied the stock value of Muyuan Foods by using absolute valuation method and relative valuation method respectively.Firstly,this paper introduces the research background,research methods and significance of muyuan,and summarizes the relevant theoretical basis;Then it introduces the pig breeding industry,including the current situation,development trend and breeding mode of the industry;Then it introduces the operation status of muyuan and the comparison with the same industry;According to the financial data of muyuan in the past five years,this paper makes financial analysis and industry comparison of muyuan;The absolute valuation method and the relative valuation method are used to evaluate muyuan shares,and the conclusion is given by comparison;Finally,the potential risks of investment in muyuan shares are studied and analyzed,and suggestions are given.The operation and financial situation of muyuan shares are summarized,and reasonable suggestions on the valuation of muyuan shares are given.At the same time,the shortcomings of the above research are summarized.