Watch List Stock News: China Xiangtai Food Co. Ltd. (NASDAQ:PLIN)

China Xiangtai Food Co. Ltd. (NASDAQ:PLIN) is now trading -38.00% off 52-week high price. On the other end, the stock has been noted 5.98% away from the low price over the last 52-weeks. The stock changed -3.12% to recent value of $3.72. The stock transacted 64839 shares during most recent day however it has an average volume of 65.76K shares. The company has 24.74M of outstanding shares and 10.79M shares were floated in the market.

On Jan. 7, 2020, China Xiangtai Food Co. Ltd. (NASDAQ:PLIN) an emerging growth company primarily engaged in pork processing in China, declared a letter to shareholders from the chairman of the Company’s board of directors.

Dear Shareholders,

2019 was an exceptional year for China Xiangtai Food Co. Ltd. since we have built many key milestones in the Company’s history of development. We felt truly honored and blessed for earning the long-term trust and support from our shareholders that make it possible for us to continually overcome difficulties and achieve ‘s outstanding results.

Our business growth was stable for the fiscal year ended June 30, 2019, even under the widely spread African swine fever in China and an increasingly uncertain global business environment with a significant RMB devaluation. We had once again reached our financial expectations while generating $102.55 million in revenue and $4.36 million in net income, which had demonstrated our ongoing focus in optimizing our business strategies. Our supermarket and grocery stores sales continued to show rapid growth, achieving an increase of 95.2% with the newly acquired grocery stores sales. We believed that the overall business environment had been optimistic due to the continuous economic growth as well as surges in pork prices this year. In addition, the Company’s total assets reached $51.35 million which representing a 52.2% year-on-year increase.

Its earnings per share (EPS) expected to touch remained 15.80% for this year. PLIN has a gross margin of 8.80% and an operating margin of 5.40% while its profit margin remained 4.30% for the last 12 months.

According to the most recent quarter its current ratio was 2 that represents company’s ability to meet its current financial obligations. The price moved ahead of -7.21% from the mean of 20 days, -9.98% from mean of 50 days SMA and performed -14.67% from mean of 200 days price. Company’s performance for the week was -4.62%, -7.46% for month and YTD performance remained -4.62%.

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