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Fujian Aonong Biological Technology Grouporp (SHSE:603363) Piotroski F-Score : 3 (As of May. 16, 2024)


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What is Fujian Aonong Biological Technology Grouporp Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Fujian Aonong Biological Technology Grouporp has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Fujian Aonong Biological Technology Grouporp's Piotroski F-Score or its related term are showing as below:

SHSE:603363' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 7
Current: 3

During the past 11 years, the highest Piotroski F-Score of Fujian Aonong Biological Technology Grouporp was 7. The lowest was 1. And the median was 4.


Fujian Aonong Biological Technology Grouporp Piotroski F-Score Historical Data

The historical data trend for Fujian Aonong Biological Technology Grouporp's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Fujian Aonong Biological Technology Grouporp Piotroski F-Score Chart

Fujian Aonong Biological Technology Grouporp Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 6.00 3.00 6.00 3.00

Fujian Aonong Biological Technology Grouporp Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 3.00 3.00 3.00

Competitive Comparison of Fujian Aonong Biological Technology Grouporp's Piotroski F-Score

For the Farm Products subindustry, Fujian Aonong Biological Technology Grouporp's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Fujian Aonong Biological Technology Grouporp's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Fujian Aonong Biological Technology Grouporp's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Fujian Aonong Biological Technology Grouporp's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was -629.611 + -480.565 + -2360.934 + -292.02 = ¥-3,763 Mil.
Cash Flow from Operations was 108.513 + 300.075 + 322.713 + -28.696 = ¥703 Mil.
Revenue was 5248.768 + 5110.027 + 4280.985 + 2407.845 = ¥17,048 Mil.
Gross Profit was -257.71 + -175.424 + -588.787 + -43.697 = ¥-1,066 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(18555.272 + 17139.199 + 16540.646 + 13625.213 + 12599.65) / 5 = ¥15691.996 Mil.
Total Assets at the begining of this year (Mar23) was ¥18,555 Mil.
Long-Term Debt & Capital Lease Obligation was ¥2,110 Mil.
Total Current Assets was ¥2,389 Mil.
Total Current Liabilities was ¥11,126 Mil.
Net Income was -325.057 + 104.028 + -465.654 + -179.713 = ¥-866 Mil.

Revenue was 4662.276 + 6585.106 + 6210.478 + 4817.861 = ¥22,276 Mil.
Gross Profit was -8.768 + 594.935 + 442.869 + 99.782 = ¥1,129 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(17783.217 + 18330.85 + 18766.513 + 18663.443 + 18555.272) / 5 = ¥18419.859 Mil.
Total Assets at the begining of last year (Mar22) was ¥17,783 Mil.
Long-Term Debt & Capital Lease Obligation was ¥2,812 Mil.
Total Current Assets was ¥5,329 Mil.
Total Current Liabilities was ¥12,102 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Fujian Aonong Biological Technology Grouporp's current Net Income (TTM) was -3,763. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Fujian Aonong Biological Technology Grouporp's current Cash Flow from Operations (TTM) was 703. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar23)
=-3763.13/18555.272
=-0.20280651

ROA (Last Year)=Net Income/Total Assets (Mar22)
=-866.396/17783.217
=-0.04871987

Fujian Aonong Biological Technology Grouporp's return on assets of this year was -0.20280651. Fujian Aonong Biological Technology Grouporp's return on assets of last year was -0.04871987. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Fujian Aonong Biological Technology Grouporp's current Net Income (TTM) was -3,763. Fujian Aonong Biological Technology Grouporp's current Cash Flow from Operations (TTM) was 703. ==> 703 > -3,763 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=2109.809/15691.996
=0.13445128

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=2811.869/18419.859
=0.15265421

Fujian Aonong Biological Technology Grouporp's gearing of this year was 0.13445128. Fujian Aonong Biological Technology Grouporp's gearing of last year was 0.15265421. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=2388.691/11125.95
=0.21469546

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=5328.875/12101.972
=0.44033113

Fujian Aonong Biological Technology Grouporp's current ratio of this year was 0.21469546. Fujian Aonong Biological Technology Grouporp's current ratio of last year was 0.44033113. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Fujian Aonong Biological Technology Grouporp's number of shares in issue this year was 858.882. Fujian Aonong Biological Technology Grouporp's number of shares in issue last year was 855.774. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=-1065.618/17047.625
=-0.0625083

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1128.818/22275.721
=0.05067481

Fujian Aonong Biological Technology Grouporp's gross margin of this year was -0.0625083. Fujian Aonong Biological Technology Grouporp's gross margin of last year was 0.05067481. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar23)
=17047.625/18555.272
=0.91874832

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=22275.721/17783.217
=1.25262606

Fujian Aonong Biological Technology Grouporp's asset turnover of this year was 0.91874832. Fujian Aonong Biological Technology Grouporp's asset turnover of last year was 1.25262606. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+0+1+1+0+0+0+0
=3

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Fujian Aonong Biological Technology Grouporp has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Fujian Aonong Biological Technology Grouporp  (SHSE:603363) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Fujian Aonong Biological Technology Grouporp Piotroski F-Score Related Terms

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Fujian Aonong Biological Technology Grouporp (SHSE:603363) Business Description

Traded in Other Exchanges
N/A
Address
Guanyinshan Operation Center, 12th Floor, Building 10, Siming District, Fujian Province, Xiamen, CHN, 361008
Fujian Aonong Biological Technology Group Incorp Ltd is an agricultural and animal husbandry enterprise in China. The principal business activities of the company include feed-oriented service, animal protection, pig raising, and raw material trade. In addition, the company's insurance business mainly relies on the feed marketing system throughout the country to provide downstream farmers with relevant products for disease prevention and control.

Fujian Aonong Biological Technology Grouporp (SHSE:603363) Headlines

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