Recently, Delisi, a leading prefabricated vegetable company, released a 2023 performance forecast, with an expected annual loss of between 10 million yuan and 13 million yuan. What has attracted much attention is that even in the case of losses, Delisi also generously provided a loan of no more than 60 million yuan to a local enterprise.
According to Delisi's 2023 performance forecast, the company's overall gross profit margin decreased by about 033%, gross profit decreased by about 10 million yuan year-on-year. In addition, the company's sales expenses increased by about 12 million yuan, but the market development situation was less than expected, resulting in a decline in net profit.
Before announcing the 2023 performance forecast, Delisi announced that it intends to provide a loan of no more than 60 million yuan to Zhucheng Anbang Construction, hereinafter referred to as Anbang Construction, with a loan term of no more than 1 year, an annual interest rate of 8%, and interest settled on a monthly basis.
According to public information, Zhucheng Anbang Construction was established in May 2013, and its business scope includes the governance and renovation of urban land, the development of mountainous areas, the tapping of potential rectification, the transformation of urban and rural infrastructure, and the construction of construction projects. The company is 100% controlled by Zhucheng Taishi Investment Holding Group, which is 100% controlled by Zhucheng State-owned Assets Supervision and Administration Bureau, and is a local state-owned enterprise.
When he borrowed the money, Delis was in debt. According to the financial report, as of the end of the third quarter of 2023, the company's short-term interest-bearing borrowings were 38.4 billion yuan, long-term interest-bearing liabilities of 12.2 billion yuan, a total of 50.6 billion yuan. In addition, the company's current liabilities amounted to 7600 million yuan.
What's more, Anbang Construction, which borrowed money from Delisi, is currently under high debt pressure. According to the financial report, as of the first half of 2023, Anbang Construction's interest-bearing debt within the scope of the consolidated statement reached 488.6 billion yuan, while the company's book money funds are only 86.8 billion yuan, of which the restricted amount amounted to 7600 million yuan.
According to the annual interest rate of 8% of the 60 million yuan loan, Anbang Construction needs to repay Delisi 400,000 yuan of interest every month, and the total interest to be repaid is 4.8 million yuan.
In February 2022, Delisi will raise 98.5 billion yuan, saying that it will use this money to focus on building a prefabricated food business, improving the domestic marketing system network construction and improving slaughtering capacity to ensure the supply of prefabricated food raw materials.
The 2 million head of pig slaughtering and meat product processing project and the 100,000 tons of meat product processing project planned by Delisi have not been completed so far. Among them, the 2 million head pig slaughtering and meat products processing project is planned to be completed and put into operation in June 2022. However, according to people familiar with the matter, the first phase of the project was actually completed in December 2022, the second phase of the project will start at the end of September 2023, and will only be completed in December 2024. The reporter also checked with Delisi on the follow-up progress of the unfinished project, but as of press time, no reply has been received.
It is worth noting that at present, the largest proportion of Delisi's revenue composition is prefabricated dishes, and it also intends to further expand the production capacity of prefabricated dishes. According to Delisi, after the completion of the 2 million head pig slaughtering and meat products processing project and the 100,000 tons of meat products processing project, the company will add 150,000 tons of deep processing capacity based on prefabricated vegetables.
Can pre-made dishes bring stable growth to Delis? Let's wait and see.
*: China Business Daily).