COMP <GO>

GDHG vs CPHC // PIOTROSKI F-SCORE QUALITY

Golden Heaven Group Holdings Ltd. (Class A) (NASDAQ) VS. Canterbury Park Holding Corporation 'New' (NASDAQ) • 15-METRIC TALLY: GDHG 0 — CPHC 3

■ METRIC PARITY

GDHG — Golden Heaven Group Holdings Ltd. (Class A) ROARABLE D • RQD 47/100

LAST: $1.10 (-3.51%) • MKT CAP: $72.0M

DES <GO> FA <GO> 10-K RED <GO>

piotroski-score

4/9

CPHC — Canterbury Park Holding Corporation 'New' ROARABLE D+ • RQD 58/100

LAST: $15.66 (-0.38%) • MKT CAP: $81.2M

DES <GO> FA <GO> 10-K RED <GO>

piotroski-score

4/9

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (GDHG VS. CPHC) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	GDHG	CPHC	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	50.20%	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	—	2.70%	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	—	28.1x	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	10.96%	—	TIE	/fcf-yield <GO>
Operating Margin	-44.50%	—	—	TIE	/operating-margins <GO>
Net Profit Margin	-56.20%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	-31.50%	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	1.76%	-1.76	CPHC	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality ACTIVE	4/9	4/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	46.1	48.4	-2.38	CPHC	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$72.0M	$81.2M	-$9.1M	CPHC	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	GDHG REV	CPHC REV	GDHG GROSS %	CPHC GROSS %	GDHG FCF	CPHC FCF
FY 2025	$15.3M	$0	50.2%	—	$19.0M	$8.9M
FY 2024	$22.3M	$0	44.8%	—	-$3.1M	$6.5M
FY 2023	$31.8M	$0	—	—	-$19.3M	$11.5M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

GDHG // BETA —

CPHC // BETA —