On the occasion of the deep adjustment of share capital of a week, the food processing enterprise Anji Foodstuff Co.Ltd(603696) ( Anji Foodstuff Co.Ltd(603696) ) bucked the market and strengthened on April 21 and closed the board again. So far, five boards have been harvested.
contrary to the upsurge in the secondary market, the first quarter performance delivered by Anji Foodstuff Co.Ltd(603696) on the evening of the 21st was not very optimistic. The performance express showed that the operating revenue in the first quarter of this year was 109 million yuan, down 16.46% year-on-year; The net profit was 2.9093 million yuan, a year-on-year decrease of 78.52%
Anji Foodstuff Co.Ltd(603696) said that affected by the Spring Festival and the covid-19 epidemic in Quanzhou, the access of goods was seriously blocked, resulting in a significant reduction in sales revenue; During the reporting period, the prices of raw and auxiliary materials continued to rise, resulting in a decrease in the overall gross profit margin of 5.41% during the reporting period, due to the impact of the decline in the securities market, the fair value of financial products was withdrawn and impairment was withdrawn
first quarter performance continued to decline
Anji Foodstuff Co.Ltd(603696) is a century old seasoning company in Quanzhou. Since its establishment, Anji Foodstuff Co.Ltd(603696) has been focusing on the R & D, production and sales of condiments; Since 2018, the company has been producing large-scale health food through OEM, which has expanded the company’s products to multiple categories. The main products of seasonings include more than 500 varieties in five categories: compound seasoning powder, natural extract seasoning, spices, sauces and flavor clear soup. Great health food includes probiotics, nutritional supplements, functional and other solid drinks.
the results express disclosed on April 21 showed that Anji Foodstuff Co.Ltd(603696) operating revenue in the first quarter of this year was 109 million yuan, a year-on-year decrease of 16.46%; The operating profit was 3.2183 million yuan, a year-on-year decrease of 79.89%; The total profit was 3.2183 million yuan, a year-on-year decrease of 79.89%; The net profit was 2.9093 million yuan, a year-on-year decrease of 78.52%; The basic earnings per share is 0.01 yuan
Anji Foodstuff Co.Ltd(603696) the performance in the first quarter decreased, mainly due to the serious obstruction of goods in and out due to the impact of the Spring Festival and the covid-19 epidemic in Quanzhou, resulting in a significant reduction in sales revenue; During the reporting period, the prices of raw and auxiliary materials continued to rise, resulting in a decrease in the overall gross profit margin of 5.41%; During the reporting period, due to the impact of the decline in the securities market, the fair value of financial products was withdrawn for impairment.
Rising costs have compressed Anji Foodstuff Co.Ltd(603696) ‘s performance, which began last year.
According to the 2021 annual report, Anji Foodstuff Co.Ltd(603696) last year achieved an operating revenue of about 549 million yuan, an increase of 30.58% year-on-year; The net profit was 453927 million yuan, a year-on-year decrease of 14.06%. The covid-19 epidemic in China has been effectively controlled, and the catering industry has ushered in recovery. At the same time, the company has increased its investment in industrial channels and chain catering channels, resulting in an increase of 15.55% in the performance of compound seasoning powder and 52.60% in the performance of flavor clear soup.
However, in 2021, due to the repeated covid-19 epidemic and the rising price of raw materials, Anji Foodstuff Co.Ltd(603696) faced challenges.
The annual report shows that the Anji Foodstuff Co.Ltd(603696) cost last year was 201 million yuan, an increase of 1.29% year-on-year; Raw materials increased by 1.36% year-on-year, mainly due to the rise in the price of raw and auxiliary materials; Labor costs increased by 6.14% year-on-year, mainly due to the increase of labor costs; Manufacturing expenses decreased by 4.41% year-on-year, mainly due to the full depreciation of some production equipment.
In response to the rise in the price of raw materials, Anji Foodstuff Co.Ltd(603696) said that thanks to the company’s deep cultivation in the market for many years and good customer base, the company’s bulk business increased significantly. At the same time, build an effective mechanism to resist the risk of price fluctuation of raw materials through bulk trade, ensure the supply of a large number of raw and auxiliary materials required by the company’s finished products, hedge the impact of rising raw material prices and reduce potential cost risks.
As a result of the rise of off-site retailers, the overall income of off-site retailers such as group buying and community-based retailers fell sharply last year, with the rise of off-site retailers, and the overall profit of emerging industries such as group buying and community-based retailers falling sharply. Last year, the performance of Anji Foodstuff Co.Ltd(603696) sauce products decreased by 46.98% year-on-year.
Anji Foodstuff Co.Ltd(603696) said that under the black swan incident, the company was also adjusting the layout and strategy of retail channels, optimizing the product structure of retail ports and actively responding to channel risks.
reduction is still in progress
The condiment industry in which Anji Foodstuff Co.Ltd(603696) is located can be described as the concentration of white horse shares, resulting in high-quality enterprises such as Foshan Haitian Flavouring And Food Company Ltd(603288) , Jonjee Hi-Tech Industrial And Commercial Holding Co.Ltd(600872) , Qianhe Condiment And Food Co.Ltd(603027) .
As a just needed product in daily life, the condiment industry has a broad market prospect. At the same time, as the recent epidemic continues to rebound, the closure of Shanghai and other places has stimulated the demand for essential consumer goods such as food, and the changes in the food processing and manufacturing sector have increased.
april 21, Anji Foodstuff Co.Ltd(603696) intraday limit up to the closing, won five board, the latest market value of 3.319 billion yuan. On the same day, Shandong Huifa Foodstuff Co.Ltd(603536) ( Shandong Huifa Foodstuff Co.Ltd(603536) ) rose the limit, and Shanghai Hi-Road Food Technology Co.Ltd(300915) ( Shanghai Hi-Road Food Technology Co.Ltd(300915) ), Sichuan Teway Food Group Co.Ltd(603317) ( Sichuan Teway Food Group Co.Ltd(603317) ), Haixin Foods Co.Ltd(002702) ( Haixin Foods Co.Ltd(002702) ) followed
Anji Foodstuff Co.Ltd(603696) stock price trend
Since April, Anji Foodstuff Co.Ltd(603696) cumulative increase has reached 64%. In the face of the popularity of the five link board, Anji Foodstuff Co.Ltd(603696) again disclosed the risk warning on the evening of April 21. The company’s shares rose significantly in four consecutive trading days on April 18, April 19, April 20 and April 21, 2022, with a cumulative deviation of 44.12% from the Shanghai stock index and 39.82% from the food industry.
As of April 19, Anji Foodstuff Co.Ltd(603696) dynamic P / E ratio is 73.11 times and static P / E ratio is 73.11 times, which is higher than that of comparable enterprises in the same industry. The turnover rate on April 21 was 20.52%, and the average turnover rate in the past year was 1.6%, much higher than the historical average. As of the announcement date, the company’s main business has not changed.
At the same time, Anji Foodstuff Co.Ltd(603696) more than shareholders are reducing their holdings.
in December last year, Anji Foodstuff Co.Ltd(603696) disclosed the shareholders’ reduction plan. Lin Xiaofang, the controlling shareholder and actual controller of the company, and Dongfang united and Xiangyu management, who acted in concert, plan to reduce their shares by block trading within 6 months due to their own capital needs, with a total of no more than 2% of the total share capital of the company; The total reduction of shares by centralized bidding shall not exceed 1% of the total share capital
According to the progress of share reduction disclosed in Anji Foodstuff Co.Ltd(603696) on April 13, Lin Xiaofang, the controlling shareholder and actual controller of the company, and Dongfang united, the person acting in concert, are still in the period of share reduction plan, but Xiangyu management no longer holds shares of the company.
