China Tracker - Details for China New Borun (BORN)


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 China New Borun
Shares Outstanding (MRQ): 25.73 mill
New Shares / Dilution (TTM): 10.88 mill73.26%
Cash (MRQ): 38.87 mill0.00%
Account Receivables (MRQ): 28.91 mill0.00%
Account Receivables (Q/Q): + 9.51 mill  
Long-Term Debt (MRQ): NO DEBT
Revenue Growth (Q/Q): 21.60% 
Revenue Growth (Y/Y): 48.08%
Net Income Growth (Q/Q): 12.58% 
Net Income Growth (Y/Y): 80.07%
EPS Growth (Y/Y): 3.93% 
Net Margin (Q/Q): 13.6% (14.7%)-1.10% 
Net Margin (Y/Y): 13.6% (11.2%)2.40% 
EPS | P/E (2 MRQ Projection): $1.740.00 
CFPS | P/CF (2 MRQ Projection): $1.140.00 
Price/Sales (2 MRQ Projection): 0.00
Price/Book (MRQ): 0.00 
Auditor: BDO China Li Xin Da Hua
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2010-10-31): $1.600.00 
 Basic Facts and History (show more)
Reporting Type: Foreign Company (20-F Filings) 
Going Public: IPO on 2010-06-11 
IPO Price: $7.00 (-100.00% since IPO)

 Business Outlook

The Company estimates that its revenue for the second quarter of 2011 will be in the range of $105.2 million to $108.3 million, an increase of approximately 59.5% to 64.2% over the same quarter of 2010.

(Source: PR Newswire, 2011-05-11)

China New Borun today announces that the Company has purchased and stored adequate corn supplies at locked-in prices to be used for production in the coming non-harvest season. During the recent harvest season, the Company reserved a greater quantity of corn to be used for later production in non-harvest season through corn sourcing arrangements with local granaries. As a result, the Company has secured 340,000 tons of corn stored in third-party granaries, and together with corn stored in the Company's self-owned warehouse, it is estimated that all of Borun's 2011 production plans can be sufficiently fulfilled with the corn already on hand.

"Having further enhanced our corn purchase and storage capability, we are confident that Borun is well-positioned to take our sourcing advantage and to capture more business opportunities in the future. Our ability to lock in attractive prices during the peak harvest season not only provides us with higher cost visibility but also buffers us from potential higher inflation. As we expand our production capacity with the recently completed Phase III facility, we are glad that we have been able to secure corn supplies that can meet our higher demand. We'll continue our effort to engage granaries to secure a greater quantity of lower-priced corn during peak harvest season and store for later use in non-harvest season. Our strong sourcing capability complements our production expertise and nearly 50% increase in total capacity. As such, we are excited and confident that our higher total capacity and solid cost visibility will drive strong revenue and profit growth in 2011."

(Source: PR Newswire, 2011-03-28)

The Company estimates that its revenue for the first quarter of 2011 will be in the range of $82.0 million to $85.0 million, an increase of approximately 39.7 % to 44.8% over the same quarter of 2010. "We are also proactively focused on enhancing our ability to pre-purchase corn at lower prices. During the recent peak harvest season, we continued to engage granaries to secure sufficient lower-priced corn and store for later use in non-harvest season. This strategy not only reduces our input costs but also improves our capacity utilization and operating efficiency. Fuelled by the strong demand of Chinese Baijiu market, we continue to be excited with our growth prospects, and we believe that our technical strengths and leading market position will enable us to seize more growth opportunities. I am very proud of our achievements and successes during this quarter, and I look forward to our continued success in 2011."

(Source: PR Newswire, 2011-03-03)

    see all Business Outlook notes


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 Analyst Coverage (show more)
2011-08-10Piper JaffrayReiterationOverweight$13.80
2011-07-29Cowen & Co.ReiterationOutperformn/a
2011-05-12Cowen & Co.ReiterationOutperformn/a
2011-05-05Cowen & Co.ReiterationOutperformn/a
2011-03-04OppenheimerReiterationOutperform$16.50

BORN is currently followed by 4 analysts. All 4 give the stock a positive rating. The average price target is 15.15.


    see all Analyst Ratings
BORN
Retail/Consumer
SCORE
4
READ: Score Cards Explained
SAFETY/RISK SCORE
HIGH RISK
DETAILS: Safety/Risk Model for BORN
Current Price:  n/a
F10k Day (2010-06-11): -100.00%$7.00
2010 Close: -100.00%$10.40
2011 Close: -100.00%$3.13
High (2012-02-02): -100.00%$4.58
Low (2012-07-24): -100.00%$1.69
Exchange:
Market Capitalization: n/a
Total Shares: 25.73 mill
Float: n/a
Avg Volume: 343.30 k
Short Interest: 959.10 k
Short Ratio: 26.21%2.8 d
Last Quarter: 2011-03-31
Revenue (MRQ): 87.21 mill
Net Income (MRQ): 11.84 mill
Op. Cash Flow (MRQ): 7.40 mill
all financial data provided without warranty