① Dabei Nong achieved operating income of 23.931 billion yuan in the first three quarters, an increase of 8.31% over the same period last year. ② benefited from a net profit loss of 908 million yuan due to a slight pick-up in pig prices, and the company's losses in the third quarter narrowed compared with the previous quarter. ③ GM commercialization ushered in an important point, and some industry pointed out that the company's GM is expected to become a new performance growth point.
Financial Associated Press, October 24 (Reporter Liu Jian Wang Ping an)The pig market continues to be in the doldrums, but thanks to the slight pick-up in pig prices in July and August, the performance of relevant pig farming enterprises improved to a certain extent in the third quarter compared with the previous quarter, and 002385.SZ is no exception. In addition, the recent commercialization of GM has ushered in an important node, and some people in the industry have proposed that with the promotion of GM commercialization, the corresponding commercial value of GM is expected to be realized into a future performance growth point.
This evening, Dabei Nong released its third-quarter report that the company realized operating income of 23.931 billion yuan in the first three quarters, an increase of 8.31 percent over the same period last year, and a net profit loss of 908 million yuan, compared with a loss of 331 million yuan in the same period last year. Among them, the net profit loss in the third quarter was 134 million yuan, narrowing compared with the Q2 loss.
On a quarterly basis, the company's net profit of Q1Magi Q2 and Q3 this year is-305 million,-469 million and-134 million yuan respectively, and its gross profit margin is 8.40,8.90 and 10.85 percent respectively. From the perspective of the company's performance, it is basically in line with the trend of pig prices this year, and some industry insiders believe that "the loss caused by low pig prices this year has become the tone of business owners, but due to the recovery of pig prices for a short time in the middle of the third quarter, superimposed pig enterprises reduce costs and increase efficiency, so the losses of relevant farming enterprises in the third quarter have obviously narrowed compared with the previous quarter."
It should be noted that although the company's Q3 performance has improved, the situation of financial pressure on pig enterprises may still exist in the short term, with short-term loans of 7.622 billion yuan at the end of the reporting period, a significant increase compared with 6.442 billion yuan at the beginning of the year. A reporter from the Financial Associated Press also learned in a recent survey that there was a certain financial pressure on the breeding end, including the group farm, and even some enterprises began to phase out sows. "now the pressure of breeding enterprises is very great, and the cash flow is very tight. Recently, some group factories have begun to phase out sows." A person from the group factory told the reporter.
It is worth mentioning that although the pig market is under pressure, genetically modified genes are expected to become the company's future performance growth point. Recently, the Ministry of Agriculture and Village issued the "publicity of varieties approved at the fourth examination and approval meeting of the Fifth National crop Variety approval Committee", which publicized 37 genetically modified maize varieties and 14 genetically modified soybean varieties. A number of varieties in Dabinong have been publicized in the first trial, and a total of 22 varieties have been approved to use the traits of Dabinong.
A genetically modified professor in China said in an interview with the Financial Associated Press, "the relatively high proportion of agricultural characters in North China corresponds to a huge upfront investment." After the commercialization is landed in the future, the corresponding commercial value of the companies with more characters can also be realized. "
Some institutional personages have pointed out that the profit margin of character companies depends on the level of charges per mu. It is expected that about 40% of the price increase (8-10 yuan per mu) can be obtained at the initial stage of GM commercialization, and the market scale of character authorization can reach about 5.9 billion yuan. Among them, the representative enterprises of character companies are Dabei Nong, Hangzhou Ruifeng (a subsidiary of listed company Longping Hi-Tech (000998.SZ)), Syngenta and so on.