Research On The Surplus Quality Of Makihara Shares Based On The Pig Cycle Perspective

Pork is in an important position in people’s meat consumption.Our country is also a big live pig breeding country.Therefore,the fluctuation of pig price exerts a significant effect on people’s livelihood and economy.Nowadays,the live pig industry in our country is in a special period in transition from the free farming to large-scale breeding.The live pig market price presents the characteristics of cyclical fluctuation of "sharp rise",resulting in two different stages of CIS-pig cycle and Counter pig cycle.The existence of pig cycle leads to the phenomenon of "pig base hurt farmers" and "meat expensive hurt people".The fluctuation of pig price is the biggest factor affecting the profit change of pig breeding industry.Therefore,studying the earnings quality of pig breeding companies from the perspective of pig cycle can comprehensively reflect the quality of the company’s earnings quality to some extent.This paper takes Shepherd’s Field as the main case study,firstly,we briefly analyze the overview of Shepherd’s Field,starting from two dimensions: individual indicators and comprehensive indicators,and then combining with the phase characteristics of the pig cycle,we find out the current situation and problems of surplus quality of Shepherd’s Field.Then,the reasons for the problems are identified from both external and internal aspects,the most important of which are: aggressive expansion,single product structure,poor control of financing costs,increased pressure on debt servicing and higher risk of capital recovery.Finally,in view of the problems and causes,we propose a plan to improve the surplus quality of Shepherd’s Field from two different stages: in the pro-pig cycle period,we should carry out scale expansion in an orderly manner and formulate a reasonable debt servicing plan;in the anti-pig cycle period,we should promote the synergistic development of various segments,formulate a reasonable financing strategy and improve the asset turnover ratio,and then provide corresponding safeguard measures for the improvement plan,so as to improve to a certain extent the surplus quality of Shepherd’s Field.To a certain extent,the current surplus situation of Shepherd Plains will be improved and the quality of surplus will be enhanced.The study of the surplus quality of Makihara shares from the perspective of the pig cycle provides more comprehensive financial information for business operators,creditors,shareholders and potential investors,helps operators formulate correct development strategies according to the current surplus quality of the company,and helps investors carefully examine the surplus quality of Makihara shares and make prudent investment decisions.