Xiong Tao, chairman of ① Angel yeast, expects that the price of the new crushing season will fall with the partial replacement of hydrolyzed sugar and the increase of sugar cane acreage. ② Xiong Tao said that the company's two overseas subsidiaries are currently carrying out capacity expansion and are expected to be completed and put into production from the end of this year to next year, as well as the next step in the construction of new overseas capacity.
Financial Associated Press, October 30 (Reporter Wu Weiling)The new sugar cane crushing season is about to begin, and Xiong Tao, chairman of 600298.SH, said at today's results meeting that molasses prices are expected to fall. At the same time, overseas revenue is growing faster than at home, and Xiong Tao said the company is already planning for the next step in the construction of new overseas capacity.
Sugar cane will usher in a new squeezing season in November, and the price of molasses has become a topic of concern to investors.
The company believes that the price of molasses in the new crushing season will fall with the partial replacement of hydrolyzed sugar and the increase of sugarcane acreage. " Xiong Tao responded at the meeting.
It is understood that in the main producing area of Guangxi, the overall preference for the growth of sugarcane this year. According to the relevant research report of CITIC Construction Investment Agricultural products team, combined with planting area, plant height, per unit yield and sugar content, Guangxi is expected to increase sugar production in the new season, and sugar production is expected to increase from 5.27 million tons to 6 million tons. Overall, the national production during 23-24 pressing season is more likely to increase compared with the same period last year, with an increase expected to be 500000-1 million tons.
At the market end, Angel yeast plans to increase its efforts to "go out to sea". Xiong Tao said that the company's two overseas subsidiaries are currently carrying out capacity expansion and are expected to be completed and put into production from the end of this year to next year. At the same time, they are also planning for the next step of overseas new capacity construction.
Data show that the company's overseas revenue growth rate is higher than that of domestic revenue in the first three quarters of this year. In the first three quarters, the company's foreign market revenue reached 3.496 billion yuan, an increase of 20.11% over the same period last year, while the domestic market revenue reached 6.156 billion yuan, an increase of 2.6% over the same period last year. In the third quarter, foreign market revenue increased by 10.47% over the same period last year, while the domestic market decreased by 0.68%.
China Merchants company research analysis said that the slowdown in domestic income growth is mainly due to weak demand downstream, short-term growth pressure, looking forward to next year, overseas North America, Central East Africa, Russia and other regions are expected to still be faster than domestic growth.
According to the financial report, Angel yeast achieved an operating income of 9.653 billion yuan in the first three quarters of this year, an increase of 7.46% over the same period last year, and a net profit of 912 million yuan, an increase of 1.63% over the same period last year. Of this total, the operating income in the third quarter was 2.939 billion yuan, an increase of 1.62% over the same period last year, and the net profit was 243 million yuan, an increase of 5.98% over the same period last year.