Recently, “Zhumao” Muyuan Foods Co.Ltd(002714) was suddenly involved in the cusp of public opinion, and the stock price also fluctuated sharply. The reason is that more than 30 subsidiaries of Muyuan Foods Co.Ltd(002714) were exposed to the problem of overdue commercial tickets.
companies with a market value of more than 200 billion suddenly stand on the cusp of public opinion
On December 2 , Shanghai Stock Exchange announced that 384 acceptors had more than three overdue payments from August 1, 2021 to November 30, 2021, of which more than 30 subsidiaries of Muyuan Foods Co.Ltd(002714) appeared in the list as acceptors .
On the evening of December 6, Muyuan Foods Co.Ltd(002714) issued an announcement to clarify that due to the company’s failure to receive the effective prompt payment application of some holders in time, or the clearing method selected by the holders did not meet the bank’s requirements, 32 subsidiaries of the company did not pay the commercial acceptance bill on time.
It is verified that as of November 30, Muyuan Foods Co.Ltd(002714) 23 subsidiaries have completed the cashing of all overdue commercial bills, and 9 subsidiaries have overdue commercial acceptance bills, totaling RMB 17.0727 million; As of December 6, , Muyuan Foods Co.Ltd(002714) the 9 subsidiaries of still had overdue commercial acceptance bills totaling 7.5598 million yuan.
on December 7 , Muyuan Foods Co.Ltd(002714) announced again that after the company actively communicated with the holder and the bank, up to now, all the above-mentioned commercial acceptance bills of 7.5598 million yuan have been cashed .
Yi Jiantao: the questioned Muyuan Foods Co.Ltd(002714) has taught the market a “vivid lesson”
financial commentator Yi Jiantao: Muyuan Foods Co.Ltd(002714) this matter is neither complex nor simple.
The main contradiction of the incident is that the commercial acceptance bill is overdue. A simple understanding is that the money that should be paid to others has not been paid after the agreed time. There may be many reasons: from the perspective of investors, the most worried thing is that the company’s cash outflow has no money, so it is overdue; According to the explanation of Muyuan Foods Co.Ltd(002714) , is not that the company has no money, but because the other party did not take the initiative to ask for it or asked for it in the wrong way . Therefore, some commercial tickets have not been cashed smoothly, and they have been paid off now. Don’t worry.
It sounds simple, but it’s not simple. because this incident reflects the problem of information asymmetry encountered by investors in the process of value investment . Investors need to find the basis for value judgment in the clues, and the company’s financial report or relevant response may be relatively lagging or not comprehensive and detailed enough. For example, in this Muyuan Foods Co.Ltd(002714) incident, the question to be solved is whether the business model of company’s rapid expansion is sustainable. It should be carefully studied and judged in the short term and can only be tested in the long term.
In any case, Muyuan Foods Co.Ltd(002714) this event has brought a “vivid lesson” to the market, because it highlights the change of market focus, not simply focusing on the rise and fall of stock price, but paying more attention to the value of the company . I observed that most of the investors who questioned Muyuan Foods Co.Ltd(002714) raised questions based on the authenticity of the company’s financial data and common sense and logic. They analyzed Muyuan Foods Co.Ltd(002714) ‘s operating capacity and cash flow status through vertical and horizontal comparison.
Real gold is not afraid of fire. A good company should be able to stand up to doubt. In the investment market, as long as it is rational and grounded, the more the better. because this can force listed companies to optimize corporate governance, strengthen the quality of information disclosure , and improve their ability to communicate with investors.
In the last sentence, investors are not only concerned about the company’s “going fast”, but also about the company’s “going steadily”, because this is the prerequisite for whether money can really earn steadily.
(China Central Television Finance)
