The Unlikely Rise of Zixin on SGX
Zixin is gaining traction on investors' radar. Its story goes back to 2015 to a listco called Brooke Asia Limited.
That’s when Brooke pulled off a reverse takeover of a sweet potato business in China and rebranded as China Star Food Group, which rebranded again as Zixin.
An investor, Thomas Clive Khoo, has been snapping up the shares like crazy and now owns a hefty 12.3% of the $46.3 million market cap company.
KGI initiated with an OUTPERFORM recommendation and a TP of S$0.060, based on a financial analysis using Discounted Cash Flow (DCF), with a terminal growth rate of 2.0% and a WACC of 10%.
Zixin's strong cash position and business model also position the company well to capture economies of scale as well as the benefits of the entire supply chain, further driving growth for the company.
The company’s improving margins also highlight the company’s growth trajectory.
The company’s improving margins also highlight the company’s growth trajectory.
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