Edit | Lu Jia
The performance of A-share leisure snacks listed companies can be described as ice and fire. The net profit of three squirrels and good shops both increased in the first half of the year, while Yanjindian suffered a decline in supermarket traffic and fell into the dilemma of declining performance.
Recently, Yanjinpu, a leisure snack company, disclosed its performance report for the first half of 20021. In the first half of 20265438, Yanjin Puzi realized operating income of 1064 billion yuan, up by 12.54% year-on-year, and the net profit attributable to shareholders of listed companies was 48622 10000 yuan, down by 62.59% year-on-year.
On a quarterly basis, Yanjindian's net profit in the first quarter was 82.0328 million yuan, and its loss in the second quarter was 3.341.70 million yuan, down by 140.73% from the previous quarter, which is also a single quarterly loss since Yanjindian went public.
Deducted non-net profit fell by 80%, and the stock price fell one after another.
It is understood that Yanjin Xiaodian has been focusing on the snack food industry, and landed in A-shares from 2065438 to February 2007, becoming the "first homemade snack in China". At present, the products sold by Yanjindian mainly include deep-sea snacks, leisure bean products, candied roasted seeds and nuts, leisure vegetarian food, leisure meat and fish products, etc. In recent years, the performance of Yanjindian has been growing at a high speed, and even if the epidemic broke out, it did not have a negative impact on its performance. However, since 20021,Yanjindian has handed in an optimistic report card.
Compared with other listed companies, the performance of Yanjindian is not ideal. Under the background of economic recovery and long-term favorable leisure snack track, the net profit of the three squirrels and the good shop both increased rapidly. Among them, the net profit of three squirrels in the first half of the year was 352 million yuan, up 87.32% year-on-year, and the net profit of good shops was 65.438+0.92 million yuan, up 654.38+09.29% year-on-year.
Under the pressure of declining performance and encountering obstacles in transformation, the share price of Yanjin Xiaodian fell again and again. On July 14, Yanjin Shop disclosed the performance forecast for the first half of 20021. It is estimated that the net profit attributable to shareholders of listed companies in the first half of the year is 45-55 million yuan, down 57.68%-65.38% year-on-year. With the disclosure of this performance report, Yenjinpu's share price fell in July 15, 16 and 19, hitting a new low in the year.
Later, Yanjin Shop issued an increase plan. The announcement shows that the actual controllers, some directors and some senior managers of the company plan to increase their holdings by no less than 50 million yuan within six months. Among them, Zhang Xuewu and Zhang Xuewen, the actual controllers and chairman of the company, increased their holdings by not less than 40 million yuan, and the deputy general manager and chief financial officer increased their holdings by not less than 6,543,800 yuan. However, the plan to increase the executive holdings failed to restore investors' confidence. As of the close of August 20th, Yanjinpu's share price was 55.09 yuan, with a market value of 765,438+26 million yuan, which was 62.22% lower than the highest price in April 145.8 yuan.
The pressure of channel transformation still exists.
Regarding the decline in net profit, Yanjinpuzi said that during the epidemic in the first half of 2020, the demand for channels in Shang Chao was strong, the sales revenue base was high, and the distribution of sales expenses was relatively low. The company underestimated the impact of new retail channels such as community group buying on traditional Shang Chao channels. In the first half of 200212002, the company spent too much on personnel publicity, promotion and other related market expenses in Shang Chao channel, but the sales revenue growth and channel performance of Shang Chao channel failed to meet expectations.
In addition, Yanjin Shop also quantifies distribution channels and expands new areas in East China and North China, and carries out early team formation and market expenses. And the investment cost in R&D is increased, and the cost of purchasing raw materials is also increasing. All these factors have a negative impact on the profitability of Yanjindian.
The data shows that the sales expenses of Yanjindian in the first half of this year were 296 million yuan, up by 37.95% year-on-year, the management expenses were 56 million yuan, up by 28.87% year-on-year, and the research and development expenses were 32 million yuan, up by 184.2% year-on-year, all of which were much higher than the increase of operating income.
It is understood that Wal-Mart has closed more than 90 stores in China since 20 16, and CR Vanguard, Carrefour, Renrenle and Yonghui Super Species stores have also been closed many times. The sales model of Yan Jindian is still the development model of large chain stores driving regional distributors. With the rise of e-commerce and community group buying, the market value of large-scale comprehensive supermarkets, such as Wal-Mart and Yonghui Supermarket, has decreased, customers have been continuously diverted, and the original channel resources and marketing network advantages are no longer available.
At the conference call on investor research, Zhang Xuewu, chairman of Yanjin Store, also said, "After the second half of last year, we found that sales in Shang Chao began to decline. At this time, we will find that our category should focus on the core category of the company. " After the end of this year, Yanjindian began to strengthen all channels, including circulation channels, quantitative loading, e-commerce channels and community group buying. We started laying all channels in March, and gradually completed the construction of our national channels in 3, 4, 5 and 6 months. "
While the performance has shrunk, the management of the gold shop has also changed frequently. In March of this year, Yanjindian announced the appointment of Huang Minsheng as the company's deputy general manager. It is understood that Sheng once worked for Nestle Co., Ltd., and served as production supervisor, quality system director, performance management manager, production manager, category production service manager, factory director and category technical director. In February, 20021,he joined Yanjindian, and was responsible for the operation and management of the Big Manufacturing and Quality Assurance Division.
In August this year, Yanjindian announced the appointment of Zhang Xiaosan as the company's deputy general manager. According to the data, Zhang Xiaosan once held important positions in many consumer goods companies such as Kangfulai, Wahaha, Quan Yi Food, Hony Food and Wei Long. In August, 20021year, he joined Yanjindian as the deputy general manager, responsible for the omni-channel operation and management of Daying sales. TF Securities said in the research report that Wei Long is in the leading position in quantitative packaging and brand marketing, and the new company is expected to accelerate the quantitative packaging and channel layout of the company.
It is worth looking forward to whether the new management can lead the Yanjin store out of the predicament.
Based on the above questions, Ai Caijing called the Yanjin store, and the staff said that they would feed back the questions to the leaders and give them a reply, but as of press time, Ai Caijing did not receive the relevant reply.
This article was originally produced by Caijing Tianxia Weekly. Please do not reprint in any channel or platform without permission. Offenders will be prosecuted.