Finance Associated Press|New consumption**January 31 (researcher Liang Youyun),With the end of the performance forecast disclosure period of A-share listed companies, many consumer companies have actively disclosed their performance turnaround and substantial increase in performance in 2023.
In most consumer sub-industries, more than half of the people who "report good news" are performers. At the same time, a small number of consumer companies have disclosed losses and increases for the first time since their listing.
2023 is an important year for the recovery of offline consumption, with food and beverage, offline retail, tourism services, and airlines becoming the focus of attention from the outside world.
According to incomplete statistics from new consumption**, the food and beverage, tourism services and aviation sectors recovered the fastest, with 8, 16 and 6 listed companies announcing turnarounds respectively, accounting for more than half of the expected increase in performance.
With the Spring Festival consumption season approaching, many consumer companies are actively grasping the new growth point of continuous consumption recovery and seizing the "good start" of 2024 performance.
The proportion of food and beverage industry is nearly 60%.
As of noon on January 31, a total of 54 companies in the food and beverage industry disclosed their results. According to the statistics of the type of performance forecast, there are 35 food and beverage companies with positive net profit growth attributable to shareholders of the parent company in this round, accounting for 6481%。Among them, only Shanghai Meilin, Miaokelando, Jinhe Industrial, Haixin Food, and Ligao Food disclosed a year-on-year decline in net profit, while the rest were expected to increase in performance and turn losses into profits, and more than half of them doubled their net profits year-on-year.
Specifically, Royal Group, which is mainly engaged in dairy products such as buffalo milk, has announced that the net profit growth rate in 2023 is very prominent. According to him, in 2023, the company will actively explore the market and achieve rapid growth in revenue in Guangxi, Guizhou, Hunan, Sichuan and other places; At the same time, the company actively grasps the market demand opportunities for new tea drinks, and cooperates with a number of tea and coffee brands to provide dairy raw materials.
Among the several companies that have announced a year-on-year decline in net profit, Shanghai Meilin and Miaokelan have experienced a decline in net profit due to the production cost of raw materials, while Gaoli Food and Haixin Food have affected their net profit performance in 2023 due to continuous investment in business and production line expansion.
It is worth noting that the food and beverage industry has also seen many companies that have announced losses for the first time since their listing, with a total of 10 companies, which is the largest among the major consumer segments.
Among them, the main reason for the loss of Longda Gourmet in 2023 is the continuous decline in pork sales**; Weilong shares, which are mainly engaged in wine production and processing, were affected by relevant Australian policies and natural disasters, resulting in impairment of assets and large losses.
In addition, the first forecast loss of the prefabricated food concept Chunxue Food and Delisi has also attracted the attention of the industry. According to reports, in addition to the loss of raw materials and pig breeding business, the relatively sluggish consumption of the prefabricated vegetable market and the continuous investment in expansion and construction have also become an important reason for the loss.
More than half of the travel services and airlines turned around their losses
Since 2023, the industry with the fastest recovery speed and the most topical degree is the comprehensive tourism service industry, which not only includes operating companies such as tourist attractions, scenic transportation, and hotels, but also the aviation and airport field has also ushered in a large-scale turnaround.
Up to now, a total of 42 companies in the field of comprehensive tourism services have disclosed their results in advance, of which 29 companies have achieved profits, and 52 of the total number of companies that have turned around their losses have been announced38%。
Among the pre-increase companies, Lijiang shares have the fastest year-on-year growth. According to the announcement, since the recovery of the tourism industry, Lijiang Tourism's Yulong Snow Mountain, Spruce Ping, Yakniuping and other scenic spots have received a total of more than 6.12 million tourists, superimposed on Lijiang's many hotels, commercial streets, and performing arts projects The consumption scale has increased significantly, and the company's revenue has achieved a great breakthrough.
Xiamen Airport has also benefited from the recovery of tourism and logistics demand, with a passenger throughput of 2,410 in 2023410,000 person-times, a year-on-year increase of 13805%。In fact, thanks to better cost control and the strategy of opening up sources and reducing expenditure, although Xiamen Airport has experienced a decline in revenue and net profit during the three years of the epidemic, it has not suffered a loss.
Among the 13 companies that reported losses in their performance, most of them reduced their losses, especially the three leading domestic airlines of Air China, China Southern Airlines and China Eastern Airlines. According to its announcement, with the continuous recovery of demand for business travel and outbound flights, it is expected that the net profit loss of the above airlines will improve in 2024.
Among the many tourist attractions and tourism services, there are also enterprises that have increased losses and lost money for the first time due to inadequate operation, joint ventures, and historical debts, such as Songcheng Performing Arts and Yunnan Tourism.
The net profit performance of offline retail and e-commerce was differentiated
Compared with the strong recovery of the tourism and food and beverage industries, the offline retail and e-commerce industries have shown a steady recovery trend. Among the 60 companies that have disclosed their performance forecasts, 38 companies have achieved profitability, accounting for more than 60%.
It is worth mentioning that among the retail and e-commerce companies that are forecasting positive profits, as many as 21 will double their net profits in 2023, accounting for more than half. Among them, 16 companies have announced a turnaround.
Among many retail and e-commerce companies, Ginza shares predict that the net profit growth rate in 2023 is "far ahead". According to the announcement, behind the sharp increase in net profit, the company grasped the benefits of the release of domestic demand and the implementation of the policy to promote consumption, but a large part of the net profit is not universal in the company's real estate.
Most of the five companies that predicted a decline in net profit were not caused by the decline in their main business or operating difficulties, but were trapped by changes in fair value and debt repayment.
Among the 22 retail and e-commerce companies that have announced net profit losses, more than half of them will reduce their losses in 2023. Among the four companies that announced losses for the first time, Cross-border Pass, which is mainly engaged in overseas e-commerce, was affected by the previous poor business operation and "difficult to return", with a decline in net profit and continuous provision of bad debt losses; The remaining companies were dragged down by sluggish demand for real estate.
The net profit of household appliances has picked up, and the growth of small household appliances is still difficult
In recent years, there has been less large-scale new demand for household appliances, and the industry has mainly focused on intelligent interconnection, consumption upgrading, green environmental protection, and elimination. Therefore, the growth of demand for white goods and black goods is relatively stable, while the net profit of small household appliances companies is relatively stable due to the decline in demand and the saturation of the penetration rate of explosive products, but the performance growth is generally weak.
Among the 25 listed companies that disclosed their performance forecasts in advance, 20 companies achieved positive profits, many of which are related companies in the home appliance chain.
According to the disclosure, the top home appliance brands with net profit forecast growth in 2023 include Vantage, Changhong Meiling, and Hisense Home Appliances, and the year-on-year growth rate of net profit is expected to be about double.
Among them, Vantage, which is mainly engaged in kitchen stoves, sanitary ware, and customized home furnishings, is expected to achieve a net profit of 400 million yuan attributable to the parent company in 2023900 million yuan, a year-on-year increase of 17954%~242.44%。According to the announcement of Vantage, in 2023, the company will actively invest in R&D and innovation, brand building, channel development, intelligent production, product structure upgrading, continuous cost reduction and efficiency increase, and comprehensively enhance the company's overall competitiveness by strengthening organizational construction and optimizing operation and management.
Changhong Meiling said in the announcement that in addition to the domestic ice washing business, thanks to the decline in sea freight and the gradual recovery of the market, overseas ice washing consumer demand and the first connection have been restored, and the company has been able to quickly grab orders to expand sales. At the same time, during the reporting period, the bulk raw materials** decreased year-on-year, and enjoyed the preferential policy of value-added tax deduction for advanced manufacturing enterprises, which made the company's operating income and net profit increase year-on-year in 2023.
In contrast, Supor predicts that the company's net profit attributable to the parent company will increase by 4% year-on-year in 202395%~5.92%。Supor revealed that the company's overall operating income in 2023 will increase by 5 over the same period6%, domestic brands continued to increase the online and offline market share of core categories, and the demand in overseas markets improved in the third quarter. In addition, by adjusting the product structure and promoting cost reduction and efficiency improvement, Supor's gross profit margin has improved.
Poorly performing small household appliance brands appear on the 2023 industry pre-loss list.
Among them, Bei Easy, which is mainly engaged in small massagers, is expected to achieve a net profit loss reduction of 63 percent in 202399%。According to the announcement, with the explosive growth of Douyin channels, the gradual adjustment of the franchise model, the consolidation of the moat by product innovation, the breakthrough of large single products to promote performance, and the continuous deepening of cost reduction and efficiency increase, the company's operating income increased year-on-year and net profit decreased significantly year-on-year. However, on the other hand, 2023 is the year of the company's brand building strategy, with a large investment in related channel expenses and a large amount of sales expenses, which failed to achieve profitability during the reporting period.
Aishida, which is mainly engaged in small kitchen appliances, disclosed that its losses will further expand in 2023, with the net loss attributable to the parent company increasing by 254% and 338% year-on-year, with a loss of 2$7.9 billion 34.5 billion yuan. According to the announcement, in addition to the decline in orders due to the inventory cycle in the international market, the company's continuous investment in research and development, the development of domestic distribution channels and the provision of multiple goodwill and credit losses have led to the further expansion of its net loss.