T 
Tianjin Guifaxiang 18th Street Mahua Food Co 002820.SZ · CNY
Consumer Staples · Shenzhen · 🇨🇳 China
9.34
+1.41%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥471.2m
FY2016FY2025
Net income
−CN¥24.5m
FY2016FY2025
Free cash flow
CN¥25.4m
FY2016FY2025
Shareholders' equity
CN¥866.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥471.2m | CN¥495.6m | CN¥503.9m | CN¥236.3m | CN¥405.1m | CN¥348.7m | CN¥507.5m | CN¥480.7m | CN¥486.2m | CN¥457.6m |
| Gross profit | CN¥211.8m | CN¥226.8m | CN¥231.1m | CN¥67.2m | CN¥174.3m | CN¥159.1m | CN¥241.4m | CN¥232.8m | CN¥239.5m | CN¥239.3m |
| Research and development | CN¥1.9m | CN¥2.9m | CN¥1.7m | CN¥5.2m | CN¥4.8m | CN¥5.2m | CN¥4.8m | CN¥4.0m | CN¥3.0m | CN¥3.0m |
| Operating income | −CN¥26.0m | CN¥27.5m | CN¥67.4m | −CN¥71.2m | CN¥27.2m | CN¥37.2m | CN¥104.8m | CN¥106.2m | CN¥115.4m | CN¥125.1m |
| Net income | −CN¥24.5m | CN¥27.1m | CN¥61.0m | −CN¥69.7m | CN¥21.3m | CN¥25.0m | CN¥84.6m | CN¥84.1m | CN¥92.6m | CN¥91.8m |
| Diluted earnings per share | -0.13 | 0.15 | 0.30 | -0.35 | 0.14 | 0.11 | 0.44 | 0.40 | 0.44 | 0.53 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥956.9m | CN¥1.01bn | CN¥1.06bn | CN¥1.03bn | CN¥1.15bn | CN¥1.10bn | CN¥1.13bn | CN¥1.13bn | CN¥1.09bn | CN¥1.04bn |
| Cash and short-term investments | — | CN¥410.6m | CN¥641.2m | CN¥597.7m | CN¥668.4m | CN¥670.4m | CN¥612.7m | CN¥640.6m | CN¥612.8m | CN¥635.3m |
| Total liabilities | CN¥90.5m | CN¥87.0m | CN¥76.1m | CN¥80.1m | CN¥99.8m | CN¥42.4m | CN¥49.3m | CN¥47.7m | CN¥50.7m | CN¥63.6m |
| Debt | — | CN¥39.1m | CN¥17.8m | CN¥46.4m | CN¥57.2m | CN¥64.9m | — | — | — | — |
| Shareholders' equity | CN¥866.5m | CN¥920.3m | CN¥982.3m | CN¥952.8m | CN¥1.05bn | CN¥1.06bn | CN¥1.08bn | CN¥1.08bn | CN¥1.04bn | CN¥977.9m |
| Shares outstanding | 195m | 178m | 206m | 201m | 157m | 218m | 193m | 213m | 208m | 173m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥52.1m | CN¥62.5m | CN¥109.2m | −CN¥21.8m | CN¥63.1m | CN¥26.4m | CN¥72.3m | CN¥66.2m | CN¥80.9m | CN¥97.9m |
| Capital spending | −CN¥26.8m | −CN¥182.8m | −CN¥16.5m | −CN¥5.5m | −CN¥14.9m | −CN¥15.7m | −CN¥24.1m | −CN¥17.0m | −CN¥45.9m | −CN¥58.9m |
| Free cash flow | CN¥25.4m | −CN¥120.4m | CN¥92.7m | −CN¥27.3m | CN¥48.2m | CN¥10.8m | CN¥48.2m | CN¥49.2m | CN¥35.0m | CN¥39.0m |
| Dividends paid | −CN¥29.3m | −CN¥39.1m | −CN¥30.1m | −CN¥30.1m | −CN¥30.1m | −CN¥40.2m | −CN¥40.2m | −CN¥38.4m | −CN¥32.0m | −CN¥30.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥92.1m | CN¥147.4m | CN¥93.7m | CN¥128.4m | CN¥102.7m | CN¥146.3m | CN¥93.0m | CN¥134.6m |
| Gross profit | CN¥40.5m | CN¥68.2m | CN¥41.0m | CN¥61.3m | CN¥45.5m | CN¥63.9m | CN¥40.6m | CN¥65.4m |
| Operating income | −CN¥15.2m | CN¥7.2m | −CN¥26.0m | CN¥5.4m | −CN¥9.8m | CN¥6.6m | −CN¥10.4m | CN¥13.5m |
| Net income | −CN¥14.2m | CN¥7.3m | −CN¥25.5m | CN¥4.9m | −CN¥10.6m | CN¥6.6m | −CN¥8.6m | CN¥13.0m |
| Diluted earnings per share | -0.07 | 0.04 | -0.13 | 0.03 | -0.05 | 0.03 | -0.05 | 0.07 |
| Cash from operations | — | — | — | CN¥28.0m | CN¥10.0m | CN¥25.0m | −CN¥7.0m | CN¥28.0m |
| Capital spending | −CN¥2.0m | −CN¥2.0m | −CN¥8.0m | −CN¥6.0m | −CN¥3.0m | −CN¥8.0m | −CN¥154.0m | −CN¥15.0m |
| Free cash flow | — | — | — | CN¥22.0m | CN¥7.0m | CN¥17.0m | −CN¥161.0m | CN¥13.0m |
| Total assets | CN¥936.6m | CN¥957.4m | CN¥956.9m | CN¥989.2m | CN¥955.3m | CN¥1.00bn | CN¥1.01bn | CN¥1.02bn |
| Cash and short-term investments | — | — | — | CN¥408.8m | CN¥396.4m | CN¥423.9m | CN¥410.6m | CN¥577.6m |
| Debt | — | — | — | CN¥14.8m | — | CN¥16.4m | CN¥29.1m | CN¥27.1m |
| Shareholders' equity | CN¥831.9m | CN¥873.8m | CN¥866.5m | CN¥892.0m | CN¥887.1m | CN¥926.9m | CN¥920.3m | CN¥928.9m |
Financial ratios
Data as of 28 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2013 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 44.9% | 45.8% | 45.9% | 28.4% | 43.0% | 45.6% | — |
| Operating margin | -4.7% | 6.4% | 14.1% | -28.5% | 7.9% | 10.5% | — |
| Net margin | -5.2% | 5.5% | 12.1% | -29.5% | 5.3% | 7.2% | — |
| Return on equity | -2.8% | 2.9% | 6.2% | -7.3% | 2.0% | 2.4% | — |
| Return on assets | -2.6% | 2.7% | 5.8% | -6.8% | 1.8% | 2.3% | — |
| Free cash flow yield | 3.9% | 13.3% | 5.9% | -0.8% | 4.8% | 1.9% | — |
| Revenue growth | -4.9% | -1.6% | 113.2% | -41.7% | 16.2% | -31.3% | — |
| Earnings growth | -190.6% | -55.6% | -187.5% | -427.5% | -15.0% | -70.4% | — |
| Current ratio | 8.20x | 9.15x | 14.33x | 13.99x | 13.06x | 14.56x | — |
| Debt to equity | — | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x | 0.00x |
| Equity ratio | 90.5% | 91.4% | 92.8% | 92.2% | 91.3% | 96.2% | — |
| Interest coverage | -15.29x | 12.15x | 24.61x | -24.74x | 8.69x | 38.41x | — |
| R&D as a share of sales | 0.4% | 0.6% | 0.3% | 2.2% | 1.2% | 1.5% | — |
| Buybacks as a share of market value | -9.6% | 13.6% | -2.8% | -27.7% | 28.0% | -13.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 25.9% | 6.2% | 0.3% |
| Operating income | -28.5% | — | — |
| Net income | -29.4% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 45.4% | 43.2% | 43.5% | 46.7% |
| Operating margin | 0.1% | -0.1% | 2.5% | 13.1% |
| Net margin | 0.3% | -0.4% | 1.6% | 10.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -96.0 | 81.8 | 38.6 | -39.4 | 75.3 | 89.6 | 27.0 | 30.7 | 36.4 | 57.7 |
| Price to sales | 5.0 | 4.5 | 4.7 | 11.6 | 4.0 | 6.4 | 4.5 | 5.4 | 6.9 | 11.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 10 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.15 | 0.15 | 0.20 | 0.15 | 0.15 | 0.15 | 0.20 | 0.20 |
- 8-for-5 split · 27 Apr 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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