Loading…
One of the world's largest producers of MSG and amino acids such as lysine, used in food and animal feed.
One of the world's largest producers of MSG and amino acids such as lysine, used in food and animal feed.
Ferments corn into MSG (monosodium glutamate, the savoury seasoning), lysine and other amino acids and sells them by the tonne, so profit depends on the gap between corn cost and selling prices, which swing with Chinese capacity and trade conditions. It is also a large xanthan gum producer.
In one line: China's ADM for amino acids/MSG.
Moat: narrow (scale, cost advantage). Large-scale fermentation capacity gives cost leadership in commodity amino-acid production.
Headquarters: Shandong, China · Founded: 1999 · Employees: 17,000
Size Fufeng (0546.HK) is a Hong Kong Consumer Staples company (Food: Specialty/Candy) with a market value of $1.31B, the 527th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$4.10 on 6 Nov 2026.
Performance Over six months the shares fell 36.6%, against -17.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 1.2% over the last twelve months (peer median +7.4%); the operating margin is 4.0% (peer median 6.4%).
Valuation It trades at 7.4× forward earnings against a peer median of 23.9× (cheapest of 19).
Capital Return on invested capital runs 0.9 points below its cost of capital (5.5% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$31.0B | HK$30.2B | HK$30.1B | HK$30.9B | HK$31.9B |
| Revenue growth | — | 0% | -3% | -3% | — |
| Gross profit | HK$5.22B | HK$5.80B | HK$5.33B | HK$6.73B | HK$8.19B |
| EBITDA | HK$2.72B | HK$3.71B | HK$3.49B | HK$4.82B | HK$6.56B |
| Net income | HK$1.13B | HK$2.67B | HK$2.51B | HK$3.47B | HK$4.49B |
| Free cash flow | -HK$1.52B | HK$929M | HK$2.58B | HK$746M | HK$3.23B |
| Capital expenditure | HK$4.05B | HK$2.77B | HK$1.14B | HK$2.33B | HK$1.11B |
| Total debt | n/a | HK$20.5B | HK$12.7B | HK$10.8B | HK$6.87B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Fufeng 0546.HK | $1.31B | -37% | +1% | 4% | 7.4× | n/a |
| MeiHua 600873.SS | $2.99B | -27% | -3% | 4% | 14.5× | n/a |
| Archer Daniels Midland ADM | $33.3B | -9% | +1% | 3% | 12.0× | 8.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0546.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.2% | -0.2% | 5th lowest of 21 |
| 6-month return | -36.6% | -17.6% | lowest of 20 |
| Distance from 52-week high | -56.8% | -30.0% | lowest of 21 |
| Revenue growth (TTM) | +1.2% | +7.4% | 5th lowest of 21 |
| Operating margin | 4.0% | 6.4% | 8th lowest of 21 |
| Forward P/E | 7.4× | 23.9× | cheapest of 19 |
| ROIC minus cost of capital | -0.9 pp | +0.4 pp | 7th lowest of 21 |
| EV / EBITDA | 3.8× | 10.1× | cheapest of 12 |
| Net debt / EBITDA | 0.0× | 0.8× | 4th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fufeng 0546.HK | Hong Kong | $1.31B | -37% | +1% | 4% | 7.4× | n/a | n/a |
| Manorama Industries MANORAMA.NS | India | $1.31B | +22% | +60% | 24% | 39.3× | 33.4% | +46.9% |
| Huabao International 0336.HK | Hong Kong | $1.34B | -25% | +13% | 3% | 25.3× | 16.2% | -2.7% |
| Morinaga & 2201.T | Japan | $1.28B | -8% | +3% | 9% | 12.3× | -5.7% | +7.1% |
| Bikaji Foods International BIKAJI.NS | India | $1.27B | -29% | +14% | 10% | 37.4× | 38.6% | +17.5% |
| CCL Products (India) CCL.NS | India | $1.37B | -20% | +24% | 13% | 25.8× | 17.9% | +29.1% |
| Yantai China Pet Foods 002891.SZ | China | $1.39B | -15% | +21% | 4% | 32.6× | n/a | n/a |
| Shandong Bailong Chuangyuan Bio-Tech 605016.SS | China | $1.24B | -28% | +19% | 32% | 18.4× | 8.8% | +22.5% |
| Nisshin OilliO 2602.T | Japan | $1.22B | +13% | +8% | 3% | 18.0× | 3.1% | +10.5% |
| Flowers Foods FLO | United States | $1.42B | -20% | +2% | 6% | 8.8× | -7.6% | +3.7% |
| Italmobiliare ITM.MI | Italy | $1.20B | -8% | +8% | 14% | 12.0× | n/a | n/a |
| Qianhe Condiment & Food 603027.SS | China | $1.43B | -21% | -6% | 14% | 23.9× | 3.1% | +8.8% |
| Snowsky Salt Industry 600929.SS | China | $1.20B | -29% | +32% | 1% | 54.7× | n/a | n/a |
| Lotte 004990.KS | South Korea | $1.18B | -27% | +1% | 2% | 69.5× | n/a | n/a |
| Chacha Food 002557.SZ | China | $1.46B | -17% | +8% | 8% | 15.8× | n/a | n/a |
| NIPPN 2001.T | Japan | $1.50B | +8% | +2% | 5% | 11.3× | n/a | n/a |
| Kagome 2811.T | Japan | $1.51B | +3% | +3% | 7% | 24.0× | 2.2% | +10.0% |
| Sanquan Foods 002216.SZ | China | $1.56B | -18% | +7% | 5% | 18.1× | 2.6% | -1.1% |
| Jiangxi Qiyunshan Food 2797.HK | Hong Kong | $1.10B | n/a | -7% | 17% | n/a | n/a | n/a |
| JinJian Cereals Industry 600127.SS | China | $1.08B | +64% | +1% | -1% | n/a | n/a | n/a |
| Star Lake Bioscience 600866.SS | China | $1.07B | -26% | -3% | 0% | 37.2× | n/a | n/a |