On March 13, Meihua Holdings Group Co.Ltd(600873) released the annual report of 2021, which is mainly engaged in monosodium glutamate, amino acid and other products. It was reported that during the reporting period, the company achieved a revenue of 22.837 billion yuan, an increase of 33.94% over the same period in 2020; The net profit was 2.351 billion yuan, an increase of 139.4% over the same period in 2020.
For performance changes, Meihua Holdings Group Co.Ltd(600873) said that the subsidiary Jilin Meihua phase II monosodium glutamate production capacity was released, the sales volume of monosodium glutamate increased, and the main business income increased. Although the prices of main raw materials increased in varying degrees, the price increase of the company’s main products threonine, lysine, xanthan gum and other feed amino acid products was greater than that of raw materials. The overall profitability of the company’s main products was further improved, resulting in profit growth.
From the perspective of main products, during the reporting period, Meihua Holdings Group Co.Ltd(600873) animal nutritional amino acid products achieved a revenue of 11.587 billion yuan, an increase of 33.39% over the same period of last year; The revenue of human medical amino acid products was 566 million yuan, an increase of 9.22% over the same period of last year; The revenue of food taste character optimization products was 8.518 billion yuan, an increase of 41.61% over the same period last year.
Meihua Holdings Group Co.Ltd(600873) also said in the announcement that there was a risk of substantial fluctuations in the purchase price of raw materials. The main raw materials of the company’s products are corn and energy, and the fluctuation of raw material prices will have an impact on the company’s costs.
