Finance Association, October 26 (Reporters Liu Jian and Wang Ping An) The tomato and lint market continued to improve, and the profit level of Guannong Co., Ltd. (600251.SH) rose markedly in the first three quarters. In addition, the company's shareholding company's salt lake lithium halide project and Luntai County tomato project are expected to be completed and put into operation this year and next, respectively, or become new growth points for the company's future performance.

This evening, Guannong Co., Ltd. released its 2023 three-quarter report. In the first three quarters, the company achieved total operating income of 3.389 billion yuan, up 83.67% year on year; net profit attributable to shareholders of the parent company was 625 million yuan, up 136.53% year on year; of these, net profit to mother was 159 million yuan in the third quarter, up 9393.62% year on year.

Judging from financial reports, the profit level of the company's main business continued to rise this year. The year-on-year growth rates of Q1, Q2, and Q3 net profit were 33.03%, 308.78%, and 9393.62%, respectively. In addition, the company's gross margin also rose markedly. The company's gross margin during the reporting period was 17.73%, up 16.2 percentage points from the same period last year.

As for the reason for the increase in performance, the company stated in the financial report that profits of tomato products and lint products increased significantly compared to the same period last year. According to statistics from Zhuochuang, the average price of 3128B grade lint nationwide in September was 1,8055 yuan/ton, up 6.41% from June; on September 1, cotton prices hit the highest value of 18,389 yuan/ton since 2023. Compared with the highest value and average of monthly cotton prices in the past 10 years, cotton prices remained in the middle to high range in the third quarter, and the focus continued to move closer to the highest value in history.

In terms of tomato business, according to information, the company's tomato products are mainly exported to Europe, Central Asia, Southeast Asia and other countries. Since this year, the price of tomato products has continued to reach new highs. Earlier, a relevant listed company said, “The sales price of ketchup has increased significantly this year compared to the same period last year, with an increase of about 50%.”

It is worth mentioning that while the profit level of the company's main business is rising, up to now, there are still many production capacities under construction that will be put into operation during the year and next year, or will become a new growth point for the company's future performance.

According to information, the company's annual processing project for processing 300,000 tons of raw materials has completed more than 90% of the total project progress, and the overall project has entered the final stage; Luntai County's deep tomato processing project, which processes 70,000 tons of tomatoes per day and produces 45,000 tons of large barrels of ketchup per year, has completed various approval processes and entered the project preparation stage. Construction of the project will begin in the second half of the year, and officially put into operation in 2024.

In addition, the company's foreign investment is mainly investment in SDIC Potassium and Guodian Kaiduhe. The company's shares are 20.3% and 25.28%, respectively. The company recently stated on an interactive platform, “The total construction progress of the SDIC Luo Potash Salt Lake Old Halide Lithium (5,000 tons/year) project has reached more than 75%, and the project will be completed and put into operation by the end of 2023 according to the plan.”