On February 10, Fangda Co., Ltd. (838163. BJ) released a performance express. The company’s operating revenue in 2021 was 3.626 billion yuan, a year-on-year increase of 21.91%. However, the net profit attributable to shareholders of listed companies was 38.1909 million yuan, a year-on-year decrease of 18.88%.
According to the company, the main reasons for the growth of operating revenue include: with the steady release of the company’s new production capacity, strengthening the development of the Chinese market and establishing strategic cooperative relations with China’s mainstream logistics Express customers. In September 2021, Fangda Co., Ltd. announced that it had received the bid winning notice from SF supply chain, jd.com and deppon logistics.
As for the decline in profits, the company said that it was mainly affected by adverse factors such as the rise in commodity prices, exchange rate fluctuations and the sharp rise in international shipping charges.
According to the company’s public offering manual, Fangda’s main business is the production and sales of express logistics packaging and the research and development of related products. Its customers include large well-known enterprises such as Suning, Tiantian express, JD, SF, Japanese letterpress, UPS, FedEx, DHL and so on.
The upstream of the company is mainly the papermaking and petrochemical industries, and the raw materials mainly include base paper, special paper, raw film, PE particles, hot melt gelatinization materials and thermal coating materials. In 2021, the price of paper and chemical products rose, and the company’s gross profit margin decreased significantly. Taking the first three quarters of 2021 as an example, its gross profit margin was 20.91%, compared with 31.79% in the same period last year.
In addition, the company’s main export countries are in North America and Europe, and factors such as exchange rate fluctuations and the sharp rise of international shipping charges have also put great pressure on the company’s profits.
