1. China Stocks

  2. •

    Consumer non-durables

  3. •

    Food: meat/fish/dairy
New Hope Dairy Co., Ltd. Class A

New Hope Dairy Co., Ltd. Class A

SSZSE:002946
15.10
CNY
+0.18
(+1.21%)
12.12BMarket Cap
Oct 30Next Earn
New Hope Dairy Co., Ltd. Class A
SZSE:002946
(Shenzhen Stock Exchange)

Recent

price

15.10

P/E

ratio

- -

div

yld

3.32%

ROIC.AI

2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
7.17
8.16
4.86
5.77
6.55
6.75
7.97
10.34
11.63
12.75
12.3
13.06
- -
Revenue per Share
0.12
0.63
0.18
0.29
0.32
0.29
0.32
0.36
0.42
0.5
0.62
0.85
- -
Basic EPS, GAAP
- -
-0.62
-0.11
-0.14
0.03
0.04
0.1
0.39
0.35
0.91
0.95
1.05
- -
Free Cash Flow per Basic Share
0.12
0.22
0.5
0.12
0.1
0.14
0.17
0.19
0.23
0.24
0.26
0.36
0.5
Dividend per Share
0.43
1.23
1.29
1.6
1.9
2.31
3.11
3.04
2.91
2.95
3.55
4.53
4.22
Book Value per Share
0.31
0.91
0.84
1.14
1.46
1.91
1.22
0.85
0.64
1.01
1.62
2.71
2.42
Tangible Book Value per Share
493
480
835
766
759
840
847
867
860
862
867
860
857
Basic Weighted Avg Shares
3,532
3,915
4,053
4,422
4,972
5,675
6,749
8,967
10,006
10,987
10,665
11,233
- -
Sales/Revenue/Turnover
4.02
4.37
3.72
6.94
6.38
5.58
5.42
4.85
5.37
7
8.78
9.4
- -
Operating Margin (%)
- -
150
214
250
272
311
352
404
469
506
468
468
- -
Depreciation Expense
59
302
150
222
243
244
271
312
361
431
538
731
- -
Net Income, GAAP
12.69
12.64
18.34
10.26
8.74
6.28
6.12
9.44
10.85
13.99
14.61
11.25
- -
Effective Tax Rate (%)
1.67
7.72
3.71
5.03
4.88
4.29
4.02
3.48
3.61
3.92
5.04
6.51
- -
Profit Margin (%)
-1,206
-1,016
-1,439
-1,408
-1,246
-1,433
-1,596
-2,222
-2,116
-2,016
-1,733
-2,364
-2,234
Working Capital
30
8
420
260
235
418
2,060
2,145
2,344
2,137
1,871
625
617
LT Debt
471
1,383
1,069
1,310
1,541
2,056
2,861
2,869
2,665
2,639
3,142
3,972
3,708
Total Equity
- -
11.57
3.41
6.65
7.61
6.85
5.27
4.85
5.06
6.51
9.18
11.88
- -
Return on Invested Capital (%)
- -
17.5
7.28
10.03
10.01
8.41
6.31
5.79
6.96
8.27
9.81
12.44
- -
Return on Capital (%)
- -
37.1
14
20.52
18.08
14.22
11.72
11.8
14.01
16.98
19.16
21.04
- -
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,812
1,646
1,582
LT Borrowings
564
644
540
LT Finance Leases
61
59
77
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
861
861
861
Market Capitalization
15,948
15,475
12,118

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,057
2,032
1,820
Cash, Cash Equivalents & STI
568
541
345
Accounts Receivable, Net
648
705
792
Inventories
717
630
526
Total Current Liabilities
4,421
4,132
4,054
Payables & Accruals
- -
- -
- -
ST Debt
1,812
1,646
1,582
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.77%
7.54%
26.41%
Free Cash Flow
47.51%
92.6%
9.66%
Net Income, GAAP
12.94%
22.19%
35.98%
Sales/Revenue/Turnover
11.48%
11.33%
5.33%
Total Cash Common Dividend
35.57%
17.56%
40.05%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,614
2,751
2,785
2,516
10,665
2025
2,625
2,901
- -
2,800
11,233
2026
2,843
2,970
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.1
0.24
0.21
0.07
0.62
2025
0.15
0.31
- -
0.13
0.85
2026
0.22
0.32
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.03
0.17
0.03
0.26
2025
0.05
0.25
- -
0.03
0.36
2026
0.08
0.39
- -
- -
- -
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Business
New Hope Dairy Co., Ltd. (002946.SZ) produces and sells dairy products and milk-containing beverages in China, including pasteurized milk, ultra-high temperature milk, formulated milk, fermented milk, yogurt, milk powder, low-temperature dairy products, and dairy drinks; it operates 16 dairy processing factories, 12 self-owned ranches, and maintains a professional cold chain logistics system emphasizing the 72°C15s pasteurization process and high-quality milk standards exceeding EU benchmarks. Headquartered in Chengdu, Sichuan Province, and founded in 2006 as a subsidiary of New Hope Group, the company focuses on low-temperature fresh milk strategies with operations spanning southwest, east, central, north, and northwest China through 50 holding subsidiaries and 15 major dairy brands. In recent developments, it achieved revenue of RMB 10.006 billion in 2022, entered the billion-yuan dairy enterprise club, reported first-half 2025 operating revenue of RMB 5.526 billion with net profit up 33% year-over-year driven by over 10% growth in low-temperature products and new offerings like the high-end "Vitality" series, and saw its affiliate Fresh Life Cold Chain complete nearly RMB 900 million Series B+ financing in November 2024, the largest single-round in China's cold chain sector.