On the evening of April 29, goldfish (300999. SZ) released its first quarter performance report for 2021. During the reporting period, the operating revenue of golden dragon fish was 51.082 billion yuan, up 27.97% year on year; The net profit attributable to the parent company was 1.570 billion yuan, up 29.12% year on year; The net profit returned to the parent after non deduction was 1.919 billion yuan, a year-on-year increase of 43.21%.
As for the reasons for the performance growth, golden dragon fish said that the main reason was that the company continued to strengthen its marketing work, and the overall performance of the kitchen food sector was good. Among them, the catering channel and food industry channel products did not perform well in the first quarter of last year due to the impact of the epidemic, and recovered rapidly this year. Feed raw materials and oil technology sector also achieved profit growth due to the impact of rising market prices.
As one of the largest agricultural products and food processing enterprises in China, golden dragon fish benefits from the continuous construction of comprehensive production base and the continuous research and development of new products, maintaining a healthy and steady growth momentum.
According to last year’s annual report, Golden Dragon has 66 production bases. Since the first quarter of this year, goldfish is still building a number of production bases to further increase the production outlets of kitchen food and expand the corresponding production capacity. At the same time, combined with the local purchasing and marketing situation and superior resources, goldfish continuously optimizes the layout of production capacity, adjusts the supply base of products, greatly shortens the logistics radius, effectively reduces the cost, and rapidly improves its ability to serve the market. In addition, the production bases of golden dragon fish in different places also provide a strong guarantee for new product R & D. These production bases will help the company to use local characteristic raw materials and imported raw materials to produce different products to meet the differentiated needs of consumers.
In terms of new product R & D, with the upgrading of consumption structure, in recent years, golden dragon fish has given full play to its strong R & D and innovation ability, and has successively developed many high-end products, such as “zero trans fatty acid” oil, Granny town mustard seed oil, rice oil and other high-quality and healthy products with more healthy and unique flavor, which have been highly recognized by consumers, It also further promoted the rapid growth of high value-added products of golden dragon fish and guided the upgrading of consumption. Driven by the steady growth of retail sales and the year-on-year increase of unit price, the comprehensive gross profit rate of Golden Dragon reached 13.27% in the first quarter, an increase of 5.23% compared with 12.61% in the same period of last year, and its profitability continued to increase.
With the continuous increase of consumers’ demand for healthy, safe and nutritious edible oil, the future branding and high-end will be the focus of industry competition, and the industry concentration is expected to further increase to the head enterprises. At present, golden dragon fish has a high market share in the field of small packaging oil. Based on the upgrading of consumption and the continuous improvement of consumers’ health awareness, it will continue to promote the existing high-end products and launch more high-quality new products to upgrade the product structure. At the same time, goldfish will also focus on the upstream and downstream of the industrial chain and the complementary business with the original products, so as to make the existing products and new products develop in coordination, and continuously reduce the production, marketing and logistics costs.
With the layout of R & D and production of high-end products, the continuous optimization of product structure, the further expansion of sales channels, and the continuous optimization of production and logistics costs, the gross profit rate will be improved. At the same time, the advantages of the company also enable the new business to borrow from the existing business, and the development of the existing business relying on the new business will be further improved, and they will cooperate with each other.
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