Fufeng Group (
HKG:0546) is the world's largest producer of MSG, xanthan gum and a major supplier for a series of bio-fermentation products. The main products of the Group are food additives, animal nutrition, colloid and high-end amino acids. In fiscal 2016, Fufeng generated sales of approximately RMB11.2 billion and profit attributable to shareholders of about RMB1.09 billion. For more information, please visit our website www.fufeng-group.com
Piper Jaffray Asia Securities Limited has rated Fufeng (HKG:0546) at "Buy" and has raised its target price from HK $3.70 to HK $4.10 after Fufeng announced its 2009 interim results. Fufeng posted first six months net profit at RMB 354 million, up 312% when compared with the same period of last year.
SBI E2-Capital has rated Fufeng (HKG:0546)(PINK:FFNGY), at 'buy', and set its target price at 4.51 Hong Kong dollars. The securities dealer deems that the cost advantage and capacity expansion will be the growth momentum of Fufeng in the following several years, which MSG will be accounting for 30% to 35% and xanthan gum accounting for 45% to 60% long term market share.
Fufeng Group Limited ("Fufeng" or "the Company", together with its subsidiaries collectively known as "the Group"; HKG:0546), a leading vertically integrated manufacturer of corn-based biochemical products in China, today announces its outstanding interim results for the six months ended 30 June 2009.
Piper Jaffray Asia Securities Limited upgraded Fufeng (HKG:0546) to BUY rating after meeting with its management. Projected the new target price is HK$3.70 based on 8x FY09E P/E and volatility is high. They increased their FY09 and FY10 earning estimation by 74% and 86% to Fufeng as the lower production cost in the new Inner Mongolian plant. And operating margin in FY09 will be increased to 17.5% and higher MSG output in FY10E.
Fufeng Group Limited (HKG:0546), a leading vertically integrated manufacturer of corn-based biochemical products in China, today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (the "SEC") relating to an establishment of American Depositary Shares (ADRs) facility. Fufeng Group ADR has traded on the over-the-counter (OTC) market effective on 19 June 2009.
Fufeng Group Limited (HKG:0546), a leading vertically integrated manufacturer of corn-based biochemical products in China, will be included in Morgan Stanley Capital International ("MSCI") Global Small Cap Index, effective as of the market close on 29 May 2009.
During the financial crisis, Fufeng Group Limited (HKG:0546) remains a strong position in their financial profile and continue to maintain their leadership in MSG and Xanthan gum market. There are significant growths in company revenue (rising from FY2007 RMB 2,445 million to FY2008 RMB 3,585 million) and Earning per share (rising from FY 2007 RMB 2.8c to FY 2008 RMB 17.75c).
