On April 24, the listed baking raw material company Ligao Foods Co.Ltd(300973) released its financial report for 2021, which showed that its revenue was 2.817 billion yuan, a year-on-year increase of 55.66%; The net profit was 283 million yuan, a year-on-year increase of 21.98%.
For the performance growth, Ligao Foods Co.Ltd(300973) is mainly due to the strong market demand of the baking industry. With the advantages of product diversification, excellent quality and stable supply, the company has made achievements in diversified channels such as baking, supermarkets and catering. At the same time, it has resisted the pressure on costs and expenses caused by the rising price of bulk raw materials such as oil, investment in base construction and channel expansion, excess performance fund and withdrawal of share based payment.
By product, in 2021, the revenue of legao frozen baked goods was 1.718 billion yuan, a year-on-year increase of 79.7%, accounting for 61% of the company’s operating revenue; The revenue of baked food raw materials was 1.096 billion yuan, a year-on-year increase of 28.65%, accounting for 38.91%. Among the baking raw materials, the revenue of cream, fruit products and sauce was 471 million yuan, 218 million yuan and 184 million yuan respectively, an increase of 26.95%, 29.27% and 33.17% respectively.
According to the first quarterly report of 2022 released in the same period, Ligao Foods Co.Ltd(300973) the revenue from January to March this year was about 630 million yuan, an increase of 8.83% year-on-year; The net profit was 40.022 million yuan, a year-on-year decrease of 45.29%. Among them, the revenue from frozen food accounts for 59.05% of the total revenue, and the revenue from baking raw materials accounts for 40.85%. The decrease in net profit during the reporting period was mainly due to the decrease in gross profit margin and the increase in expenses.
