On February 7, Pinwo Food, known as the "first stock of imported food", was 300892SZ) closed at 12,1 yuan, down 155%。So far, the company's stock price has been in the negative for 8 consecutive years, with a cumulative decline of more than 46% during the period. The reporter of "Investment Express" noticed that Pinwo Food previously announced a bleak 2023 annual performance forecast, with a net profit loss of more than 68 million yuan.
The stock price was "cut in half" in 8 days
Recently, the a** field has come out of the big ***, but Pinwo Food is still falling and falling. On February 7, the share price of Pinwo Food plunged sharply again. As of **, Pinwo Food closed at 1210 yuan, a decrease of 1550%, turnover rate 889%, with a turnover of 5077970,000 yuan; ** The price hit an all-time low, and the total market capitalization fell to 12100 million yuan.
The after-hours dragon and tiger list shows that the top five of the day totaled 2468620,000 yuan, and the top five sold a total of 2247220,000 yuan, net amount 221400,000 yuan. Among them, the special use of institutions, the business department of Guangzhou Haiming Road, and the special use of institutions are **565010,000 yuan, 52000000000000000000000000000000350,000 yuan. CICC Shanghai Branch, Institutional Only, and Institutional Exclusive sold 620 respectively250,000 yuan, 460450,000 yuan, 417470,000 yuan.
It is understood that Pinwo Food was founded in 1997, its business model is to cooperate with foreign businessmen, production and processing by first-class businessmen, original export to China, Pinwo Food brand promotion, sales, the main products are Deya milk, Valentine beer, Pinley olive oil and cereal biscuits and other foods.
In September 2020, Pinwo Food landed on the Growth Enterprise Market (GEM) with an issue of 2666 yuan shares, at the beginning of the listing, Pinwo Food's share price ** rose, rising to 87 in December 202066 yuan shares, but after that, the share price of Pinwo Food began to "fall endlessly". According to statistics, in the form of post-compounding, Pinwo Food has fallen by more than eighty percent since its high level.
Net profit is expected to turn from profit to loss
Behind the sharp drop in the stock price, the net profit of Pinwo Food is expected to turn from profit to loss. Previously, on the evening of January 29, Pinwo Food announced a bleak 2023 annual performance forecast, with a net profit loss of more than 68 million yuan. As for the main reasons for the performance loss, Pinwo Food attributed it to weak consumption, weakening demand and product procurement
Pinwo Food further explained that the company mainly imports dairy products, beer, grain and oil and other products from Germany, France and other European countries, due to the outbreak of the Russian-Ukrainian conflict, it has brought greater pressure to the European enterprise chain, and the rise of energy and food has promoted the rise of inflation in the euro area, and the raw materials and manufacturing costs of the company's foreign businessmen's dairy products, beer and other production have increased more, and the company's procurement of imported dairy products, beer and other products in 2023 has been obvious, resulting in an increase in costs and a decrease in profits.
In fact, since its listing, Pinwo Food's performance has been unsatisfactory. In 2021, the revenue grew by 9In 84% of cases, its net profit fell by 2972%。Since the second year of listing, revenue has begun to decline, and in 2022, the operating income will be 153.9 billion yuan, down 6 percent year-on-year78%;The net profit attributable to shareholders of the listed company was about 1120380,000 yuan, down 88 percent year-on-year26%;Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 35450,000 yuan, down 99 percent year-on-year53%。Since the third quarter of 2022, its net profit has been in the red. Until 2023, the net profit fell three times in a row, and there was the first loss of the year since listing.
There is no doubt about the room for growth
From the perspective of the market environment, the domestic raw milk production is sufficient, and the growth of Pinwo food is difficult. At the same time, domestic consumption of dairy products and other products is weak, and market demand is weakening. According to data from the Bureau of Statistics, domestic milk production reached about 39.32 million tons in 2022, a year-on-year increase of 68%, milk production hit a new high; In 2023, the domestic milk output will be 41.97 million tons, a year-on-year increase of 67%。
At the same time, domestic milk brands are gradually rising, and the halo of imported milk is gradually fading. Previously, the data disclosed by Hu Shu, a first-level researcher from the Third Division of the Import and Export Food Safety Bureau of the General Administration of Customs, showed that China's dairy product imports will show a trend of volume reduction and price increase in 2022 after experiencing rapid growth in the previous decade. In the first half of 2023, the downward trend in imports slowed down and exports grew rapidly. Judging from the situation of imported dairy products, the demand for imported liquid milk for packaged milk and yogurt in China is declining.
Industry insiders said that the current dairy market environment is affected by many factors, including changes in consumer preferences, intensified market competition, the cost of raw materials and the uncertainty of the macroeconomic environment, and the growth of enterprises is facing certain challenges.