Following the "Chinese medicine Mao", Pien Tze Huang has the title of "Zhuge in Medicine". On the evening of January 30, Pien Tze Huang released its annual performance forecast, however, before 24 hours, Pien Tze Huang hurriedly disclosed the performance of the first quarter of this year**. It's only been a month since 2024, how can you get three months?
Specifically, Pien Tze Huang is expected to achieve revenue of 100 in 20233.5 billion yuan, a year-on-year increase of 1542% and net profit of 278.4 billion yuan, a year-on-year increase of 1259%, deducting non-net profit of 284.5 billion yuan, a year-on-year increase of 1489%。Pien Tze Huang attributed the increase in revenue to the increase in sales revenue due to the company's and subsidiaries at all levels strengthening market planning and expanding sales channels. The change in net profit and non-profit deduction was due to the increase in operating profit due to the increase in sales of the company's core products, Pien Tze Huang series products and Pien Tze Huang brand Angong Niuhuang Pill. In addition, due to the good sales momentum of Pien Tze Huang's products during the beginning of 2024, the market is showing a strong sales trend, and the company has successfully achieved a "good start", and the company expects net profit to increase by no less than 25% year-on-year in the first quarter of this year.
Although both forecasts are good news, investors are still puzzled, and even the capital markets are not buying it. From January 31 to February 2, Pien Tze Huang's share price fell for three consecutive trading days, with a cumulative decline of 1412%, and even fell to 180 during the period69 yuan shares, the lowest value since July 2020.
In fact, Pien Tze Huang's performance in 2023 has improved significantly compared with the previous year, and the growth of revenue and net profit has accelerated significantly. However, compared with the previous three quarters, Pien Tze Huang's performance in the fourth quarter of last year slowed down significantly. According to the calculation of the annual performance express report, Pien Tze Huang's operating income in the fourth quarter of 2023 is **47%。Net profit was 56 quarter-on-quarter13%。
The financial reports of previous years show that Pien Tze Huang's "overturn" in the fourth quarter is not accidental. From 2017 to 2022, Pien Tze Huang's revenue and net profit in the fourth quarter of the year both declined quarter-on-quarter, of which the operating income declined quarter-on-quarter24%；Net profit attributable to the parent company decreased month-on-month12%
It is worth noting that in May 2023, Pien Tze Huang has just made the largest price increase in history, but the drive to performance came to an abrupt end in the fourth quarter. In 2005, the ex-factory price and retail price of Pien Tze Huang were raised by 5 yuan, and the company's operating income increased by 65 yuan year-on-year22%, net profit increased by 10682%；In 2020, Pien Tze Huang's retail sales in the domestic market will be raised from 530 yuan to 590 yuan, and the corresponding increase will be about 40 yuan. In that year, the company's operating income and net profit increased year-on-year62%。
Since the price increase does not work, it is necessary to think of another way out. On January 31, a number of investors suggested that Pien Tze Huang launch a special edition product for the Year of the Dragon on the SSE e-interaction, and some investors wrote, "Pien Tze Huang's sales in the fourth quarter were not good. This year is the Year of the Dragon, and Chinese children have a special preference for dragons, and if a dragon can be engraved on the box, it will be more meaningful to give gifts or collect, which may help sales. Good management should be innovative and enterprising, not static. ”
In this regard, Pien Tze Huang replied, "Dear investors, thank you for your attention to Pien Tze Huang!" Thank you for your valuable advice! ”
In fact, in addition to the various ideas of netizens, Pien Tze Huang himself is also pushing the second growth curve cosmetics business. As early as the 2011 annual report, Pien Tze Huang mentioned that in the next five years, Pien Tze Huang cosmeceuticals and Pien Tze Huang toothpaste will form the main growth point of performance, and it is expected that they will reach 500 million yuan in sales in 2015. However, from 2021 to the first three quarters of 2022, Pien Tze Huang's cosmetics business revenue has declined for nearly three consecutive years. During this period, Pien Tze Huang's toothpaste, which also belongs to the cosmetics sector, has been exposed to quality problems many times.
Not all traditional Chinese medicine is Pien Tze Huang, and not everything with the name of Pien Tze Huang will be bought by consumers. (Contents**|.)Huabo Jingwei).