Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
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
Fujian Aonong Biological Technology Grouporp Piotroski F-Score Historical Data
* 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.
SHSE:603363 vs ADM, BG, TSN: Piotroski F-Score Comparison
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 Piotroski F-Score vs 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.
* 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.
*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 -473.
==> 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 140.
==> 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.
Fujian Aonong Biological Technology Grouporp's return on assets of this year was -0.05158024. Fujian Aonong Biological Technology Grouporp's return on assets of last year was 0.11929538.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Fujian Aonong Biological Technology Grouporp's gearing of this year was 0.15737337. Fujian Aonong Biological Technology Grouporp's gearing of last year was 0.17069479.
==> 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
Fujian Aonong Biological Technology Grouporp's current ratio of this year was 0.88996009. Fujian Aonong Biological Technology Grouporp's current ratio of last year was 0.95444743.
==> 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 2711.836. Fujian Aonong Biological Technology Grouporp's number of shares in issue last year was 2425.485.
==> 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.
Fujian Aonong Biological Technology Grouporp's gross margin of this year was 0.03092856. Fujian Aonong Biological Technology Grouporp's gross margin of last year was 0.07729012.
==> 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
Fujian Aonong Biological Technology Grouporp's asset turnover of this year was 0.98565093. Fujian Aonong Biological Technology Grouporp's asset turnover of last year was 0.64992512.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
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Que. 6
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Que. 7
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Que. 8
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Que. 9
=
0
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1
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1
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1
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4
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 4 indicating the company's financial situation is typical for a stable company.
Fujian Aonong Biological Technology Grouporp (SHSE:603363) has a Piotroski F-Score of 4 as of Sep. 10, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Fujian Aonong Biological Technology Grouporp and its competitors. This is near median its historical median of 4.00. Over the past decade, Fujian Aonong Biological Technology Grouporp's Piotroski F-Score has ranged from 1.00 to 7.00. According to the industry distribution chart, Fujian Aonong Biological Technology Grouporp ranks #1317 out of 1944 companies in the Consumer Packaged Goods industry, placing it in the top 67.7%.
Is Fujian Aonong Biological Technology Grouporp's Piotroski F-Score too high?
Fujian Aonong Biological Technology Grouporp's current Piotroski F-Score of 4 is near median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 7.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Fujian Aonong Biological Technology Grouporp's value of 4 is 20% below this industry median. Based on the distribution chart, Fujian Aonong Biological Technology Grouporp ranks #1317 out of 1944 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Fujian Aonong Biological Technology Grouporp has a GF Score™ of 30/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fujian Aonong Biological Technology Grouporp's Piotroski F-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Fujian Aonong Biological Technology Grouporp ranks #1317 out of 1944 companies for Piotroski F-Score. This places Fujian Aonong Biological Technology Grouporp in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Fujian Aonong Biological Technology Grouporp's value of 4 is 20% below this benchmark. Historically, Fujian Aonong Biological Technology Grouporp's own Piotroski F-Score has ranged from 1.00 to 7.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Fujian Aonong Biological Technology Grouporp has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,944 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Fujian Aonong Biological Technology Grouporp's current Piotroski F-Score of 4 is 20% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Fujian Aonong Biological Technology Grouporp and its competitors. For the Consumer Packaged Goods industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fujian Aonong Biological Technology Grouporp's current Piotroski F-Score is 4, which is near median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fujian Aonong Biological Technology Grouporp stock overvalued right now?
Based on GuruFocus' analysis, Fujian Aonong Biological Technology Grouporp (SHSE:603363) is currently considered Significantly Overvalued. The stock's GF Value™ is ¥1.34, compared to a current price of ¥3.12 — trading 132.8% above its estimated fair value. The current Piotroski F-Score is 4, which is near median its 10-year median of 4.00 and 20% below the Consumer Packaged Goods industry median of 5.00. Fujian Aonong Biological Technology Grouporp's overall GF Score™ is 30/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Fujian Aonong Biological Technology Grouporp (SHSE:603363), the current Piotroski F-Score is 4 as of Sep. 10, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Fujian Aonong Biological Technology Grouporp (SHSE:603363) Overvalued in 2026?
Based on GuruFocus' analysis, Fujian Aonong Biological Technology Grouporp stock appears to be overvalued.
The current stock price of ¥3.12 is trading 132.8% above its estimated GF Value™ of ¥1.34.
GuruFocus considers Fujian Aonong Biological Technology Grouporp to be Significantly Overvalued.
Key valuation signals for SHSE:603363:
Piotroski F-Score: 4 (near median its 10-year median of 4.00)
GF Value™: ¥1.34 vs. price of ¥3.12 (132.8% above fair value)
Industry Position: 20% below the Consumer Packaged Goods median (#1317 of 1944)
No single metric tells the full story. See the SHSE:603363 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
30GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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