A-shares have repeatedly refreshed the cognition of shareholders. In previous years, there was no sign of the Spring Festival**, and the Shanghai Composite Index defense battle was fought from 2,900 points to 2,700 points.
The green stock price has made many listed companies unable to sit still.
On January 31, Zhangzhou Pien Tze Huang Pharmaceutical Co., Ltd. *** hereinafter referred to as "Pien Tze Huang") issued the "Announcement on the First Quarter Results of 2024".
Only one-third of the first quarter of this year has passed, and Pien Tze Huang is rarely busy with "** performance, but the stock price is "flashed".
A growth performance report, but the stock price has hit a new low in the past three years.
On January 31, Pien Tze Huang suffered a volume drop shortly after the opening. Although it also rebounded intraday, it was still down 916% closed, and the stock price fell to 1994 yuan shares, a new low in three years.
Pien Tze Huang's stock price suddenly "flashed", or it may be related to the 2023 annual performance express report released on the evening of January 30.
This is good news.
In 2023, the preliminary accounting data, which has not been audited by an accounting firm, will be realized:
Revenue 1003.5 billion yuan, a year-on-year increase of 1542%；
Total profit 336.7 billion yuan, a year-on-year increase of 1306%；
Net profit attributable to shareholders of listed companies278.4 billion yuan, a year-on-year increase of 1259%；
Basic earnings per share of 461 yuan, a year-on-year increase of 1244%。
Revenue increased by more than 15%, Pien Tze Huang said, mainly due to the strengthening of market planning and expansion of sales channels, the company, the holding subsidiary Fujian Pien Tze Huang Health Technology merger), and the holding subsidiary Pien Tze Huang (Zhangzhou) Pharmaceutical Co., Ltd.) increased sales revenue.
As for the growth of various profit indicators, Pien Tze Huang said that it was due to the increase in sales of its core products, Pien Tze Huang series products and Pien Tze Huang brand Angong Niuhuang Pill.
It is not easy to maintain double-digit growth in performance, but the capital market does not buy it, which is not the first embarrassment Pien Tze Huang has encountered.
In July 2021, Pien Tze Huang's share price reached a 10-year high, once exceeding 489 yuan shares.
From 2015 to 2021, Pien Tze Huang's share price continued to rise, especially in 2020, with an annual increase of nearly 150% and an annual increase of about 65% in 2021.
But after 2022, Pien Tze Huang's stock price has continued to fall amid ups and downs. From 2022 to 2023, its stock price will retrace by about 34% and 16%, respectively. As of February 2 this year**, it was down another 22% for the year.
However, in terms of performance, from 2015 to 2022, Pien Tze Huang's revenue and net profit attributable to the parent company have maintained positive growth, and there has been no negative growth.
From 2015 to 2021, Pien Tze Huang's revenue increased from 188.6 billion yuan increased to 802.2 billion yuan, the year-on-year growth rate remained above double digits. Among them, the slowest year-on-year growth rate in 2020 is 1378%, the fastest year-on-year increase of 60. in 201785%。
During the same period, Pien Tze Huang's net profit attributable to the parent increased from 4$6.7 billion to $24.43.2 billion yuan, a year-on-year growth rate of 635%—50.53%。
Oriental Fortune Network (thanks to this).
In 2022, Pien Tze Huang's performance growth will slow down, and the whole year will be achieved:
Revenue 869.4 billion yuan, a year-on-year increase of 838%；
Net profit attributable to the parent company 247.2 billion yuan, a year-on-year increase of 166%。
Compared with 2021, its revenue and net profit attributable to the parent company increased by 23% and 45% year-on-year respectively, and the performance growth rate in 2022 is not ideal.
The higher the expectations, the less likely they are to be met?
In 2023, Pien Tze Huang's performance growth rate will improve significantly, returning to double digits again.
The financial report shows that in the first three quarters of 2023, Pien Tze Huang's revenue will be 7.6 billion yuan, a year-on-year increase of 1488；Net profit attributable to the parent company 240.5 billion yuan, a year-on-year increase of 1716%。
Compared with the annual performance forecast, the growth rate of net profit attributable to the parent company is 1259%, which means that the growth rate of its net profit attributable to the parent company in the fourth quarter of last year has lagged behind.
According to Yicai report, in the fourth quarter of 2023, Pien Tze Huang's net operating income decreased by 4More than 7%, net profit decreased by more than 50% quarter-on-quarter. This may be the real reason why Pien Tze Huang's stock price suddenly "flashed" in recent days.
On January 31, Pien Tze Huang urgently issued an announcement on the results of the first quarter of 2024**.
This kind of operation is not common, and it can even be said that it is rare.
According to the regulations of listed companies, the time of disclosure of the first quarter report performance forecast is generally not earlier than the annual report of the previous year in principle. In other words, the first quarter earnings announcement is usually not released until around March.
In response to the sudden sharp increase in the stock price, Pien Tze Huang's "performance" revealed in advance the good news that this year has achieved a "good start". According to its preliminary accounting, it is expected that in the first quarter of this year, its net profit attributable to the parent company will grow by no less than 25% year-on-year.
However, this good news has not stopped its stock price, but the stock price decline on February 1 and 2 is indeed much smaller (respectively**4.).11% and 141%）。
Compared with the short-term fluctuations in stock prices, there are two main concerns of the market and investors about Pien Tze Huang.
The first is the performance growth effect brought about by the price increase, which may weaken in the long run.
In 2021, 1 Pien Tze Huang's **is more expensive than **, and it once appeared on the hot search.
According to public reports, from 2004 to 2020, Pien Tze Huang has increased its prices nearly 15 times, nearly 5 times.
In May 2023, Pien Tze Huang announced another price increase, and its leading product, Pien Tze Huang lozenges, will be raised from 590 yuan to 760 yuan tablets in the domestic market, an increase of about 288%。
However, last year, the growth rate of its revenue and net profit attributable to the parent company was not as high as the increase in its retail sales. In particular, the fourth quarter also saw a sequential and year-on-year decline.
The second is the dependence on a single product, and the second growth curve has not yet been cultivated.
According to the 2023 interim report, Pien Tze Huang's pharmaceutical industry products contributed more than 9% of revenue, while products in the cosmetics industry contributed only 5With 4% of revenue, there is no obvious second growth curve.
For Pien Tze Huang, which has a national-level secret formula, the advantages of the moat are still quite obvious. However, the market and investors have given high expectations to Pien Tze Huang, for example, in September 2020, its share price rose more than twice that of Kweichow Moutai in the same period, becoming a well-deserved "Moutai in medicine". Therefore, once its growth rate is less than expected, the stock price will inevitably fluctuate.
*|Girlfriend Finance (ID: Girlfriend-Finance).
Written by |Sister Honey.
Kejihui Zhang Zipeng newsmedia007
Kejihui, a pioneer in finance and technology, a senior content team, and 30 online platforms are synchronized. The accuracy and authenticity of the above content is not guaranteed. The market is risky, and investors should be cautious in their transactions. The subject matter involved does not make any recommendations, and the investment and transaction are carried out at your own risk. ）