Today, Toly Bread Co.Ltd(603866) released its 2021 financial report, which showed that its revenue was 6.335 billion yuan, a year-on-year increase of 6.24%; The net profit was 763 million yuan, a year-on-year decrease of 13.54%. This is also the first decline in Toly Bread Co.Ltd(603866) net profit in recent 10 years.
In terms of products, the company's core product Taoli brand bread and pastries achieved an operating revenue of 6187951400 yuan, an increase of 3507128 million yuan, an increase of 6.01%, accounting for 97.67% of the company's annual operating revenue. Star products such as mellow and cooked continue to grow steadily, new products such as rock baked cake and cheese bread show relatively rapid growth, and the comprehensive competitiveness of products continues to be improved. The main business income of festival food moon cakes and zongzi developed for traditional holidays was 1334288 million yuan and 124835 million yuan respectively, an increase of 13.54% and 61.91% respectively over the same period of last year.
In terms of subregions, except for the slight decline in revenue in the northwest region, Toly Bread Co.Ltd(603866) other regional revenues increased in varying degrees, with an increase of 2.34% - 48.38%.
By the end of 2021, Toly Bread Co.Ltd(603866) totally 20 production bases have been put into use and 6 production base projects are under construction.
In view of the performance changes, Toly Bread Co.Ltd(603866) is mainly attributed to three points: in the same period of last year, affected by the national phased social security relief policy, the labor cost is lower than that in the current period; The promotion efforts in this period have increased, and the discount rate is higher than that in the same period of last year; The rise in raw material prices has led to an increase in production costs. Affected by relevant factors, in Toly Bread Co.Ltd(603866) 2021, the operating cost increased by 11.84% year-on-year, and the gross profit margin decreased by 3.69 percentage points year-on-year.
