Yunnan Agriculture Group's interim report is also here.
Cheng Jiaxun personally called Zhao Chen to inform him, with a hint of apology in his tone, but more of a pragmatic tone.
Yunnan Agriculture Group 2018 Semi-annual Report Core Data
During the reporting period, the company achieved operating income of 685 million yuan, a year-on-year increase of 38.5%.
The net profit attributable to shareholders of the parent company was 31 million yuan, a year-on-year decrease of 62.8%.
Net profit after deducting non-profit items was 28 million yuan, a year-on-year decrease of 65.1%.
Live Pigs has a slaughter volume of 620,000 heads, a year-on-year increase of 45%. Sows of Breeding Age has a stock of 42,000 heads, a 31% increase from the beginning of the year.
The main reasons for the decline in performance are:
First, the African Swine Fever epidemic caused panic in the industry, and Live Pigs prices continued to fall. The average price of Live Pigs in the first half of the year fell by more than 20% compared with the same period last year.
Second, the company is expanding against the trend. The newly added pig farms have not yet reached full production, and the amortization of fixed costs is relatively large.
Third, the price of feed raw materials has increased, and the cost of breeding has increased.
Zhao Chen said nothing after reading the interim report. Chen Xi asked next to him:
"Zhao Zong, Yunnan Agriculture's performance is not very good. Do you want to explain it to Board of Directors?"
Zhao Chen shook his head.
"No need to explain. They understand. The decline in Yunnan Agriculture's performance is not a problem with the company, but a problem with the industry.
African Swine Fever is spreading, pig prices are falling, and all pig raising companies are losing money.
Yunnan Agriculture can still make a profit of 30 million, which is already much better than the industry average."
He opened the mid-term report of Yunnan Agriculture and pointed to the line with the inventory of Sows of Breeding Age.
"42,000 Sows of Breeding Age, an increase of 31% from the beginning of the year. This number is where the value of Yunnan Agriculture lies.
When Pig Cycle reverses, these sows will be money printing machines. Whatever you lose now, you will make back by then."
Su Wantang said softly from the side, "But Board of Directors may not see it that way. What they see is a profit drop of more than 60%."
Zhao Chen leaned back on the chair and thought for a while. "Compile the data of my colleagues and put them together when the time comes. It will be clear after comparing them."
Chen Xi was stunned for a moment. "This is indeed a good idea."
Zhao Chen smiled. "Yunnan Agriculture's Fundamentals has not changed, only the market sentiment has changed."
Zhao Chen put the two interim reports side by side on his desk and read them over and over again.
Bubble Mary's revenue was 315 million, an increase of 185%, and its net profit was 41.2 million, making its first half-year profit.
Yunnan Agriculture revenue was 685 million, an increase of 38.5%, and net profit was 31 million, a decrease of 62.8%.
One is erupting and the other is dormant.
One represents the future of consumption upgrade, and the other represents the opportunity at the bottom of the cycle.
The two projects Henglong invested in are in the right direction.
He picked up the tea cup, took a sip, and then put it down.
On the last trading day of July, Tongce Medical and Pianzaihuang released their semi-annual reports almost simultaneously.
The semi-annual report of Tongce Medical was posted online after the market closed on July 31.
Chen Xi refreshed the page in Trading Room, and the announcement popped up.
She quickly scanned the core data, then picked up her phone and sent a message to Zhao Chen.
During the reporting period, the company achieved operating income of 685 million yuan, a year-on-year increase of 34.91%;
Achieved net profit attributable to Listed Company shareholders of 135 million yuan, a year-on-year increase of 52.68%;
The net profit after deducting non-profit items was 132 million yuan, a year-on-year increase of 51.57%.
The net cash flow generated from operating activities was 178 million yuan, a year-on-year increase of more than 30%.
Basic earnings per share were 0.42 yuan, and the weighted average return on net assets was 8.97%, a year-on-year increase of 2.31 percentage points.
The main reason for the performance growth is that the medical service income of the company's dental hospitals continues to grow, the "main hospital + branch hospital" model in Zhejiang province continues to be replicated, and the expansion of hospitals outside the province is steadily advancing.
During the reporting period, the company's medical outpatient visits reached 879,000, a year-on-year increase of more than 25%.
The semi-annual report of Pianzaihuang was also posted at almost the same time.
During the reporting period, the company achieved operating income of 2.404 billion yuan, a year-on-year increase of 37.14%;
Achieved net profit attributable to Listed Company shareholders of 618 million yuan, a year-on-year increase of 42.55%;
Net profit after deducting non-profit items was 605 million yuan, a year-on-year increase of 45.15%.
Basic earnings per share are 1.02 yuan, and the weighted average return on net assets is 12.51%.
The main reason for the performance growth is the increase in sales of the company's leading product Pien Tze Huang series products, the continued increase in experience stores, and the gradual coverage of blank markets.
During the reporting period, core products continued to increase in both volume and price, and the parent company's statements maintained a growth rate of more than 40% in operating income and net profit.
After the two semi-annual reports were released, careful investors quickly discovered something fishy.
Tongce Medical In the top ten Major Shareholder list of the semi-annual report, a new face appeared--
Henglong Capital Co., Ltd. holds 22.3 million shares, accounting for 4.99% of the total share capital, ranking the second largest circulating shareholder.
In the semi-annual report of Pianzaihuang, Henglong Capital also appeared in the top ten Major Shareholder list, holding 21 million shares, accounting for 3.48% of the total share capital.
At the same time, Shunxin Agriculture's semi-annual report was also released on the same day.
Henglong Capital's name disappeared from Shunxin Agriculture's top ten Major Shareholder list.
The second company Major Shareholder, which held 5% of the shares, was still listed in the first quarter, but had disappeared by the end of the second quarter.
Snowball and East Money Stock Bar exploded instantly.
"Henglong Capital entered the top ten of Tongce Medical and Pianzaihuang, but Major Shareholder withdrew from the shareholder list of Shunxin Agriculture.
This is short-term play. Shunxin Agriculture will run away after making enough money to find new prey."
"Shunxin Agriculture increased from 18 to 40, more than doubled.
Henglong Capital just quit now, which means they have eaten it from beginning to end. They have made at least three to four billion in this wave, right?"
"Three to four billion? You underestimate Henglong Capital.
Some people did the math and said they made at least 500 million, some said they made 800 million, but only they themselves know the exact amount."
Someone with good intentions pulled out a timeline of the opening time and liquidation time of Henglong Capital on Shunxin Agriculture--
I started building a position at the end of March and cleared it at the beginning of July. In less than four months, the stock price doubled.
The last line of the post read, "Zhao Chen, this person, is a precise bargain hunter every time he makes a move.
Shunxin Agriculture is, Tongce Medical is, and Pianzaihuang is too.
The question is, how long will he hold Tongce Medical and Pianzaihuang? Should he make money and run like Shunxin Agriculture, or should he hold it for a long time?"
Shooting and running will make it impossible for retail investors to pursue them. After all, the list of shareholders is only disclosed once a quarter.
There are so many things that can happen in one quarter.
Therefore, the debate about how long Henglong will invest in Tongce Medical and how long Pien Tze Huang will hold the shares has become a hot topic.