After food, condiments and alcohol, dairy products have also joined the “army of price increases”.
On December 31, China’s “condensed milk first stock” Panda Dairy Corporation(300898) (300898. SZ) announced that in view of the continuous rise in the cost of main raw materials, packaging materials, labor and transportation, in order to better provide consumers with high-quality products and promote the sustainable development of the market, it was decided to adjust the ex factory price of main condensed milk related products by 3% to 10%, The new price will be implemented on January 1, 2022.
Panda Dairy Corporation(300898) stressed that the price adjustment of some products may have a certain impact on market sales, and the impact on future performance is uncertain.
In recent years, in order to solve the problem of single product structure, Panda Dairy Corporation(300898) has laid out the cheese plate, successively launched products such as mozzarella cheese and children’s cheese stick, and gradually entered the C-end market. At the end of 2020, Panda Dairy Corporation(300898) also adjusted the sales price of its products due to the rise in the price of fresh milk and milk powder.
According to the data, Panda Dairy Corporation(300898) was established in 1996 and landed on the gem of Shenzhen Stock Exchange in October 2020. Its main business is the R & D, production and sales of concentrated dairy products and dairy trade. It has established and maintained good business relations with Xiangpiaopiao Food Co.Ltd(603711) (603711. SH), Mengniu dairy, Danone dairy, golden monkey and other companies.
The interface news reporter noted that in recent years, Panda Dairy Corporation(300898) performance has gradually presented the dilemma of increasing income without increasing profit. From 2018 to 2020, the company achieved revenue of 602 million yuan, 604 million yuan and 684 million yuan, with a year-on-year increase of 12.67%, 0.35% and 13.35%, net profit of 94.7526 million yuan, 66.611 million yuan and 81.5129 million yuan, and deduction of non net profit decreased year by year, with a year-on-year increase of 13.61%, a decrease of 30.69% and a decrease of 4.67% respectively.
According to the third quarterly report of 2021, Panda Dairy Corporation(300898) achieved a revenue of 618 million yuan in the first three quarters of this year, a year-on-year increase of 41.57%, and a net profit of 60.3237 million yuan, a year-on-year increase of 58.11%. Then from a single quarter, the growth rate of net profit in the first quarter once reached 3345.08%. In the third quarter, the company fell sharply, realizing an operating revenue of 228 million yuan, a year-on-year increase of 13.47%; Net profit and non net profit decreased by 10.74% and 13.17% respectively.
With the end of the year approaching, the price expectation of milk and dairy products seems to be rising due to various cost pressures. On the evening of December 8, China Wangwang (00151. HK) said that since this year, the price rise of some raw materials and packaging materials has become increasingly obvious, and bulk commodities such as palm oil, base paper, plastic granules and milk raw materials have increased greatly, bringing cost pressure to the food and beverage industry. Therefore, Wangwang also plans to make corresponding price adjustment policies to continuously launch better products and services for customers. The price of products will be increased on January 1, 2022.
China Securities Co.Ltd(601066) in the Research Report on December 19, it was pointed out that after Sanyuan, the price of some low-temperature products of Mengniu also began to increase this week. Compared with normal temperature, low temperature faces greater cost pressure in the upward cycle of raw milk, and the price adjustment is expected to improve the profitability in 2022. In November, Jindian, amuxi and other products adjusted the standard retail price and bottom line promotion price, and the supply price of dealers increased by about 5%.
Affected by the price rise news, on December 31, Panda Dairy Corporation(300898) the share price closed at 33.10 yuan, up 3.76%. Since this year, the stock has fallen by nearly 30%.
(interface News)
