China Quanjude(Group) Co.Ltd(002186) fell into a loss for the second consecutive year. On January 28, China Quanjude(Group) Co.Ltd(002186) released the performance forecast for 2021. In 2021, it is expected to achieve an operating revenue of 920-970 million yuan, a year-on-year increase of 17.50% – 23.88%; The net profit attributable to the shareholders of the listed company is expected to lose 155-168 million yuan.
And its stock also faces investment risk. According to the stock listing rules of Shenzhen Stock Exchange (revised in 2020), the net profit of listed companies before and after deducting non recurring profits and losses for three consecutive fiscal years, whichever is lower, is negative, and the audit report of the latest year shows that there is uncertainty in the company’s sustainable operation ability, and its stock code will add other risk warning (st) indicators. St stock means “special treatment” and gives the market a warning that the stock has investment risk.
China Quanjude(Group) Co.Ltd(002186) said that during the reporting period, the company made efforts to overcome the adverse impact of covid-19 pneumonia epidemic, continued to carry out transformation and adjustment around the main line of time-honored “integrity and innovation”, actively tried multi-point breakthroughs, and made some progress in the transformation and upgrading of main stores, the implementation of food products and the adjustment of organizational structure, with operating income The profit level recovered well in some months. However, due to the repeated and multi-point spread of the epidemic, it had a great impact on the business development of the company. The reception number of the company’s catering stores, especially in the stores dominated by tourist sources in Jingyuan, failed to recover, resulting in a certain loss.
However, the reporter sorted out the financial reports of China Quanjude(Group) Co.Ltd(002186) over the years and found that in addition to the epidemic factors, the performance began to decline sharply since 2017 China Quanjude(Group) Co.Ltd(002186) . According to its financial report, from 2017 to 2020, China Quanjude(Group) Co.Ltd(002186) operating revenue was 1.861 billion yuan, 1.777 billion yuan, 1.566 billion yuan and 783 million yuan respectively, and the net profit was about 136 million yuan, 73042200 yuan, 44.6279 million yuan and – 261 million yuan respectively, with a year-on-year decrease of 2.57%, 46.29%, 38.9% and 686.77% respectively. In 2020, China Quanjude(Group) Co.Ltd(002186) even lost the total net profit of the first three years at one fell swoop, with an amazing loss range.
In fact, in recent years, China Quanjude(Group) Co.Ltd(002186) has also actively saved itself by reducing prices, canceling service fees, developing food business and other measures. However, the market does not seem to pay for the above measures. In order to attract young consumers, in April 2021, China Quanjude(Group) Co.Ltd(002186) also built an immersive light and shadow restaurant in Qianmen, Beijing, claiming to be the first holographic projection experience restaurant of a time-honored brand in China.
Insiders believe that although the catering industry as a whole has been greatly hit by the epidemic, the epidemic is not the main reason for the continuous decline of China Quanjude(Group) Co.Ltd(002186) performance. Improper operation, lack of innovation and inaccurate positioning are the crux of China Quanjude(Group) Co.Ltd(002186) performance loss. In addition, China Quanjude(Group) Co.Ltd(002186) was mainly consumed by tourists earlier. The epidemic has limited the arrival of this part of the customer group, and young consumers have a low degree of brand recognition for China Quanjude(Group) Co.Ltd(002186) . While other roast duck brands such as Dadong, Siji Minfu and cheap square are accelerating to occupy the market, consumers can choose more and more roast duck brands, and the previous advantages of China Quanjude(Group) Co.Ltd(002186) are gradually fading.
