On November 6, Muyuan Foods Co.Ltd(002714) issued a statement on some commercial acceptance bills issued by the company involved in the continuous overdue list (as of November 30, 2021) of Shanghai Stock Exchange.
It is understood that on December 2, Shanghai Stock Exchange disclosed the list of commercial tickets continuously overdue as of November 30, 2021. among them, the commercial bills accepted by several companies directly or indirectly controlled by Muyuan Foods Co.Ltd(002714) continue to be overdue.
Muyuan Foods Co.Ltd(002714) it is verified that from August 1 to November 30, 2021, a total of 32 subsidiaries of the company had overdue payments. According to the verification of the company, as of November 30, 2021, of which 23 subsidiaries have completed the cashing of all overdue commercial bills.
In addition, as of November 30, 2021, Muyuan Foods Co.Ltd(002714) there were 9 subsidiaries with overdue commercial acceptance bills totaling 17.0727 million yuan ; As of December 6, 2021, 9 subsidiaries of company still had overdue commercial acceptance bills totaling 7.5598 million yuan. details are as follows:
Image source: Muyuan Foods Co.Ltd(002714) announcement
Muyuan Foods Co.Ltd(002714) said that after verification by the company, the company was unable to honor the commercial acceptance bill on time due to the company’s failure to timely receive the effective prompt payment application of some holders, or the clearing method selected by the holders did not meet the bank’s requirements.
Meanwhile, the company has actively communicated with the holders and banks to promote the smooth cashing of commercial acceptance bills and protect the legitimate rights and interests of the holders.
According to Muyuan Foods Co.Ltd(002714) , at present, the company’s production, operation and cash flow are normal . As of the end of September 2021, the company’s monetary capital balance was 9.95 billion yuan. The company has issued special management systems and measures according to relevant conditions, which will strengthen management and maintain active communication with banks and ticket holders to avoid the recurrence of similar events.
Zhongxin Jingwei noted that there had been news about the overdue commercial acceptance bills of Muyuan Foods Co.Ltd(002714) subsidiaries in some online we media and stock investment forums.
On December 3, Muyuan Foods Co.Ltd(002714) said in response to a question on the interactive platform of Shenzhen stock exchange that Muyuan Foods Co.Ltd(002714) recently noticed that China Merchants Securities Co.Ltd(600999) staff member Yang released false statements related to the company in the stock exchange group. The production, operation and liquidity of Muyuan Foods Co.Ltd(002714) are normal, and there is no major information that should be disclosed but not disclosed. At the same time, it strongly condemns such acts and reserves the right to investigate the legal responsibility of the parties.
Source: Shenzhen Stock Exchange Interactive Trading Co., Ltd
On the same day, Muyuan Foods Co.Ltd(002714) also issued several announcements. Muyuan Foods Co.Ltd(002714) said that the board of directors reviewed and approved the proposal on the company’s foreign exchange derivatives trading and agreed to the company’s foreign exchange derivatives trading.
The announcement said that with the increasing frequency of international transactions such as cross-border financing and procurement, it is necessary to avoid the risk of exchange rate and interest rate fluctuations through foreign exchange derivatives.
In another announcement, Muyuan Foods Co.Ltd(002714) said that in order to ensure that the company has sufficient production, operation and investment and construction funds, the company and its holding subsidiaries (including newly established subsidiaries or subsidiaries included in the consolidated statements) plan to apply to banks and other financial institutions for a total credit line of no more than 70 billion yuan.
According to the third quarterly report of Muyuan Foods Co.Ltd(002714) , in the third quarter of 2021, Muyuan Foods Co.Ltd(002714) achieved a revenue of 14.744 billion yuan, a year-on-year decrease of 18.68%; The net profit was -822 million yuan, a year-on-year decrease of 108.05%. In the first three quarters, Muyuan Foods Co.Ltd(002714) achieved 56.282 billion yuan, a year-on-year increase of 43.71%; The net profit attributable to the parent company was 8.704 billion yuan, a year-on-year decrease of 58.53%.
In addition, Muyuan Foods Co.Ltd(002714) sold 3.874 million pigs in November, with a sales revenue of 6.767 billion yuan; The average selling price of the company’s commercial pigs was 15.96 yuan / kg, an increase of 34.34% over October 2021.
In the secondary market, Muyuan Foods Co.Ltd(002714) shares fell 3.21% to 51.61 yuan compared with the previous trading day. So far, its total market value is 271.6 billion yuan. However, since June, Muyuan Foods Co.Ltd(002714) share price has decreased by 54.37%.
(Zhongxin Jingwei)
