Yesterday, "Youmao" Yihai Kerry Arawana Holdings Co.Ltd(300999) released a performance express: net profit plunged by more than 30% in 2021. In early trading today, Yihai Kerry Arawana Holdings Co.Ltd(300999) shares plunged, once falling 9%.
Since the high point in early 2021, Yihai Kerry Arawana Holdings Co.Ltd(300999) share price has fallen by more than 60%. The well-known private forest park investment has multiple product heavy positions Yihai Kerry Arawana Holdings Co.Ltd(300999) , some products have been "deeply locked up", and some positions have been cut.
The share price of has plummeted by more than 60%
On February 22, Yihai Kerry Arawana Holdings Co.Ltd(300999) released the performance express for 2021. The express showed that during the reporting period, the company achieved an operating revenue of 226.23 billion yuan, a year-on-year increase of 16.1%; The net profit attributable to shareholders of listed companies was 4.13 billion yuan, a year-on-year decrease of 31.1%; After deducting non recurring profits and losses, the net profit attributable to shareholders of listed companies was 5 billion yuan, a year-on-year decrease of 43.2%.
Image source: Announcement
In early trading today, Yihai Kerry Arawana Holdings Co.Ltd(300999) shares plunged, falling 9% at one time, but then the share price rebounded. As of midday closing, Yihai Kerry Arawana Holdings Co.Ltd(300999) fell by 5.82%.
Source: China stock market news
The performance decline of Yihai Kerry Arawana Holdings Co.Ltd(300999) is actually a harbinger. In the first three quarters of 2021, although Yihai Kerry Arawana Holdings Co.Ltd(300999) revenue has maintained growth, the growth of net profit has deteriorated. The growth of net profit in the first quarter reached 29.12%, but it directly changed to - 21.85% in the second quarter and - 65.86% in the third quarter. Especially in the third quarter, the growth rate of non net profit deduction was - 92.80%.
Source: China stock market news
The decline in performance has long been reflected in the share price of Yihai Kerry Arawana Holdings Co.Ltd(300999) . Since the high point at the beginning of 2021, Yihai Kerry Arawana Holdings Co.Ltd(300999) share price has plummeted by more than 60%, from 145 yuan at the highest point to 53 yuan now. In 2021, Yihai Kerry Arawana Holdings Co.Ltd(300999) share price basically maintained a downward trend except for a slight rebound in May and June.
Source: China stock market news
price increase logic failure?
For the decline in performance, Yihai Kerry Arawana Holdings Co.Ltd(300999) gives two reasons.
Image source: Announcement
From the explanation of Yihai Kerry Arawana Holdings Co.Ltd(300999) , the reasons for the decline in performance in 2021 are: first, the rising cost of raw materials and the rising proportion of low gross margin products, which dragged down the profits of kitchen food business; Second, the purchase and pressing of soybeans reduced the superimposed hedging loss, which dragged down the profits of feed raw materials and oil technology business.
It should be noted that in the investor relations record form on February 15, Yihai Kerry Arawana Holdings Co.Ltd(300999) said: "last year, we adjusted the price of some products, especially some products with relatively high cost pressure, but we could not fully cover the rise in raw material prices."
forest garden or "deep set"
Yihai Kerry Arawana Holdings Co.Ltd(300999) is a heavy position stock of private placement boss Lin Yuan. Several funds under Linyuan investment were listed on the list of the top ten circulating shareholders of Yihai Kerry Arawana Holdings Co.Ltd(300999) at the beginning of 2021, and they are still increasing their positions in 2021.
At the end of 2020, two funds of Linyuan investment, No. 12 and No. 158, appeared among the top ten circulating shareholders of Yihai Kerry Arawana Holdings Co.Ltd(300999) , holding 1.37 million shares and 1.15 million shares respectively.
Source: China stock market news
In the first quarter of 2021, fund No. 12 invested by Linyuan will no longer appear, and fund No. 158 will increase its position to 1.17 million shares; Product No. 166 is newly entered, holding 1.33 million shares; No. 24 is also a new entry, holding 940000 shares.
Source: China stock market news
By the third quarter of 2021, four funds of Linyuan investment will be among the top ten circulating shareholders of Yihai Kerry Arawana Holdings Co.Ltd(300999) . In addition to No. 158, No. 166 and No. 24 in the first quarter, No. 130 also appeared. The product holds 900000 shares.
Source: China stock market news
From the above shareholding track, at the end of 2020 and the beginning of 2021, many funds may have bought Yihai Kerry Arawana Holdings Co.Ltd(300999) at a high level. At present, the products built by the investment part of Linyuan at the end of 2020 and the beginning of 2021 may be deeply covered by about 50%.
In addition, except that some funds may reduce their positions (such as the disappeared No. 12 Fund), other funds have increased their positions slightly, which shows that Linyuan has been sticking to it in the process of Yihai Kerry Arawana Holdings Co.Ltd(300999) continuous decline.
