Liaoning Wellhope Agri-Tech Joint Stock: Expecting 1H2020 net profit to be between 580 mln yuan~610 mln yuan, up 61.56%~69.91% YoY

NBD AI Bulletin-Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. (the Company, SH 603609, latest price: 15.35 yuan) released a performance forecast on July 12, expecting net profit attributed to shareholders of the listed company in the first half of 2020 to be between 580 million yuan and 610 million yuan, an increase of 61.56% to 69.91% over the same period last year. The main reason is that during the reporting period, in the face of heavy pressure caused by incidents such as African swine fever, coronavirus epidemic, and the global economic downturn, the Company actively resumed work and production. While doing a good job in epidemic prevention, the Company has been implementing its business strategy in 2020. Its main businesses - feed and feed raw materials trade, meat and poultry industrialization, pig breeding - all presented great performance, showing the Company's strength in  risk resistance and profitability.

NBD AI Review: According to the forecasts of major securities firms on the net profit of Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd., the average net profit of the Company in the first half of 2020 is forescast to be 769 million yuan, compared to 359 million yuan for the same period last year. 

According to the Compnay's 2019 annual reports, Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. mainly engages in food and feed processing, poultry, raw materials trade, related industries and pig raising, accounting for 43.76%, 37.09%, 15.46%, 2.51% and 1.14% of its revenue respectively.

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. is chaired by Jin Weidong, 57, Chinese national, master's degree in physiology, and a senior livestock pastor. The Company's president is Ding Yunfeng, male, 57, Chinese nationality, bachelor's degree.

(By Cai Ding)

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