Not willing to just be a “soybean milk king”! Relying on state-owned assets and maintenance shares to become a 100 billion level granary

“Soybean milk king” is going to become “food king”?

On April 12, Weiwei shares officially cancelled other risk warnings, and the stock abbreviation was changed from ” V V Food & Beverage Co.Ltd(600300) ” to “Weiwei shares”.

After the state-owned assets became the owner, from the financial report data, at present, the primary processing of grain of Weiwei Co., Ltd. has exceeded that of solid drinks, becoming the business sector with the highest proportion of revenue

has been illegally occupied with more than 2.7 billion funds

The “ST” of Weiwei shares dates back to two years ago.

In 2020, due to the illegal occupation of funds of listed companies by Weiwei group and the suspected disclosure of illegal and illegal Weiwei shares, the company’s shares were subject to delisting risk warning from April 27, 2021, and the stock abbreviation was changed to ” V V Food & Beverage Co.Ltd(600300) “.

According to the data, from 2017 to 2019, Weiwei shares were not disclosed in accordance with the regulations, and Weiwei group occupied a total of 2.753 billion yuan of non operating funds . Cui Chao, general manager of Weiwei group and song Xiaomei, chief financial officer of Weiwei group, organized and planned the occupation of the above funds and issued instructions to Weiwei shares. Zhang Mingyang, financial director of Weiwei shares, organized the implementation. In addition, a large amount of capital guarantee is also involved between Weiwei shares and Weiwei group.

According to the announcement of “stock cancellation of other risks” of Weiwei shares, as of December 31, 2020, Weiwei group has paid off the principal occupied by the previous funds in full from the date of issuance of the company’s 2020 annual audit report to April 22, 2021, Weiwei group has paid off the interest formed by the occupation of funds, and all the illegal guarantees of the company have been lifted

In addition, in strict accordance with relevant laws and regulations and the requirements of regulatory authorities, and in combination with the actual situation of the company, the company has improved the internal control system, optimized the internal control system, strengthened the internal control management, and established a long-term mechanism to prevent the occupation of funds and illegal guarantee.

However, Weiwei also said that ” company’s operating conditions will not change significantly after the cancellation of other risk warnings , and may still face risks from macro environment, industrial policies, market changes and other aspects”.

In the opinion of Shen Meng, director of Xiangsong capital, the revocation of St, from the perspective of capital market, not only restored the normal 10% secondary market fluctuation range of Weiwei shares and the ability of normal market financing, but also restored investors’ confidence in the future development of listed companies from a psychological point of view .

senior management of state owned assets reshuffle company

Weiwei Co., Ltd. takes off its hat in one year, and Xuzhou Xinsheng Investment Holding Group Co., Ltd. (hereinafter referred to as “Xinsheng group”) with state-owned assets background has made great contributions.

2021 in July, Weiwei shares were warned of delisting risk, and Xinsheng group announced to take over Weiwei shares within three months the announcement disclosed at that time showed that Xinsheng group would spend a total of 919 million yuan to obtain 216 million shares of listed companies held by Weiwei group at the price of 4.26 yuan / share, accounting for 12.90% of the total share capital of the company.

On November 25, 2021, the above equity transfer was officially completed. The shareholding ratio of Xinsheng group reached 29.90%, becoming the controlling shareholder of V V Food & Beverage Co.Ltd(600300) and Xuzhou SASAC becoming the actual controller of the company

After the state-owned assets became the owner, the senior managers of Weiwei shares began to reshuffle.

In December 2021, Cui Guiliang, the founder of Weiwei Co., Ltd., and other senior executives announced their resignation one after another. The reasons for resignation were “work reasons” . Subsequently, Weiwei Co., Ltd. announced the list of newly elected directors and other senior executives. Shibo, Guomin and cuizirui were elected as directors of the eighth board of directors of the company, of which shibo and Guomin have more than ten years of experience in Xinsheng group .

According to the data on the official website, Xinsheng group, founded in 2007, is a large state-owned urban construction group in Xuzhou, ranking among the top 100 Urban Investment Companies in China, is 100% controlled by the state owned assets supervision and Administration Commission of Xuzhou Municipal People’s government

It is generally positioned as an urban construction service operator, with the investment, construction and operation management of urban infrastructure as the main direction, and is mainly responsible for the transformation of shanty towns in the main urban area, the construction of fixed sales houses, real estate development, commercial real estate operation, investment and construction of water infrastructure, etc. At present, the total assets of the company are nearly 100 billion yuan, ranking among the top 100 Urban Investment Companies in China.

Backed by Xinsheng group, the financial situation of Weiwei shares has been significantly improved. According to the data, from 2017 to 2020, V V Food & Beverage Co.Ltd(600300) asset liability ratio was 60.24%, 64.80%, 68.65% and 55.09% respectively, which remained at a high level Weiwei’s latest 2021 annual report shows that the company’s total liabilities at the end of the reporting period were 2.072 billion yuan, and the asset liability ratio decreased to 40.16%, a year-on-year decrease of 44%

“big granary” replaces soybean milk business

The leading group was well established, and Xinsheng group began to anchor the goal of “100 billion grain, oil and food industry cluster”

With regard to the future development strategy, Weiwei shares said in its 2021 financial report that the company will continue to focus on the strategy of “ecological agriculture, big grain and big food”, intensively cultivate the main industries of food, beverage and grain, steadily promote the development strategic plan of “double 10 billion industry drives 100 billion industrial clusters” and gradually implement it, strive for more than 10 billion grain and food and beverage industries, Build a 100 billion grain, oil and food industry cluster in Xuzhou

Statistics show that Weiwei’s joint-stock industry is involved in agricultural resources, food, beverage, grain and oil, tea, etc., and has Weiwei, Tianshan snow, chew yichew, six dynasties pine and other brands.

It has become a well-known soybean milk brand because of “Weiwei soybean milk, happy and happy”. Its soybean milk market share has occupied the first market share for many years, so it is known as the “king of soybean milk” 2015, Weiwei Co., Ltd. started the primary grain processing business, with an income of RMB 330 million in that year

However, judging from the current performance scale of Weiwei shares, grain primary processing business has surpassed the “solid beverage business” sector where its bean milk powder is located and become a new main business

According to the financial report of 2021, the revenue of “solid beverage” business of Weiwei shares was 1.708 billion yuan, accounting for 37.79% of the total revenue.

The business income of “primary grain processing” was 2.138 billion yuan, accounting for 47.33% of the revenue.

Although the primary grain processing business surpasses the solid beverage business in terms of revenue scale, from the perspective of gross profit, the gross profit margin of “solid prepared beverage” is still the highest in Weiwei’s business , reaching 41.98%, while the “primary grain processing” business with the highest revenue proportion has the lowest gross profit margin, only 3.3%.

With regard to the future development trend of Weiwei’s soybean milk business and grain business, Shen Meng believes that Weiwei’s soybean milk has not been developed and innovated for many years, but the market competition and consumer demand have changed significantly, does not rule out that the future soybean milk business is just an ordinary sector in listed companies

\u3000\u3000 “With the continuous innovation of Vitasoy, doubendou, Weiyi and other soybean milk enterprises, it is difficult for Weiwei to regain its share in the soybean milk market in the past peak period. As a window of Weiwei’s brand, the soybean milk business will continue to be retained, but it will continue to shrink because it can not keep up with the rhythm and speed of the whole consumption upgrading. grain business has policy dividends and the scale will continue to grow. However, the profit growth rate of the grain industry will continue to increase The degree is relatively slow, and it is difficult to replace the soybean milk business and stir up the beam of performance and profit for a time “said Zhu danpeng, an analyst of China’s food industry.

On how Weiwei shares will boost the performance of the soybean milk sector in the future, the reporter of Beijing business daily sent an email to interview Weiwei shares, but as of press time, he had not received a reply.

- Advertisment -