Zhongpin (NASDAQ:HOGS)

Valuation Scenarios

Data Inputs:

Fiscal Year Ends in December
 

Date	06/10/2009
Price	$12.17
12 Months Trailing EPS a,b	$0.95
2009 Average Company EPS Guidance a,b	$1.12
Future EPS Growth Rate Based on 2009 Average Company EPS Guidance a,b	28.74%
Trailing P/E Ratio a,b	12.81
PEG Ratio (P/E divided by growth rate) a,b	0.45

^a Zhongpin  is not paying a full U.S. tax rate.  Therefore, all EPS numbers have been adjusted by the GeoTeam® to reflect a standard U.S. tax rate of 36%.  Zhongpin's stated average EPS guidance was $1.57.

^b Non-GAAP EPS Figures exclude certain non-operating gains and losses as well as certain non-cash items. Non-GAAP information should not be viewed in isolation or as a substitute for reported, or GAAP information .  The GeoTeam® non-GAAP figures may, from time to time, differ from company supplied figures.

Short-Term Valuation Scenarios

Date	06/10/2009
Price Based on P/E of 25 on Four Quarters Trailing EPS	$22.50
Price Based on P/E of 20 on Four Quarters Trailing EPS	$19.00
Price Based on P/E of 15 on 2009 Average Company EPS Guidance	$16.80

Long-Term (12 Months Forward) Valuation Scenarios

Date	06/10/2009
Price Based on P/E of 25 on 2009 Average Company EPS Guidance	$28.00
Price Based on P/E of 20 on 2009 Average Company EPS Guidance	$22.40

Peg Ratio Analysis - Common rule of thumb that PEG ratio should be less than 1.0

PEG Ratio Less than 1?

YES

These scenarios are not investment advice, but are scenarios based on some commonly used investment guidelines.  They are provided to aid investors in making their own investment decisions.