财联社记者以投资者身份致电公司证券部了解到，第三季度业绩改善，除了收入增长，另一原因在于成本端改善，第三季度榨菜的原材料主要都是今年收购的青菜头，价格较去年有所下降。①In the first three quarters of this year, Chongqing Fuling Zhacai Group achieved revenue of 1.962 billion yuan, a year-on-year growth of 0.56%; net income attributable to the parent company was 0.671 billion yuan, a year-on-year growth of 1.74%; ②In the third quarter, the main raw material used by the company for pickled vegetables is the newly acquired Chinese cabbage heads this year, and the price has decreased compared to last year; ③In order to increase its product market share, the company has increased customer credit limits, with year-end accounts receivable increasing by more than 12 times.
On October 29, Caijing Society News (Reporter Wu Weiling) benefited from the decrease in raw material costs, Chongqing Fuling Zhacai Group (002507.SZ) improved its performance in the third quarter, reversing the trend of performance decline in the first half of the year. It is worth noting that in order to seize market share, the company increased customer credit limits, with year-end accounts receivable growing by more than 12 times.
Chongqing Fuling Zhacai Group announced tonight that in the first three quarters of this year, the company achieved revenue of 1.962 billion yuan, a year-on-year growth of 0.56%; net income attributable to shareholders of the listed company was 0.671 billion yuan, a year-on-year growth of 1.74%. Among them, the revenue in the third quarter was 0.657 billion yuan, a year-on-year growth of 6.81%; net income attributable to the parent company was 0.223 billion yuan, a year-on-year growth of 17.88%.
Caijing Society reporters, in their capacity as investors, called the company's securities department and learned that the performance improvement in the third quarter was not only due to revenue growth but also due to cost improvement. In the third quarter, the main raw material for pickled vegetables was Chinese cabbage heads acquired this year, with prices slightly lower than last year.
Combining the data previously disclosed by the company, due to market supply and demand factors, the prices of the Chinese cabbage heads and semi-finished pickled vegetables purchased this year decreased by about 32% and 26% respectively compared to last year.
Looking ahead to the price situation of Chinese cabbage heads next year, the company stated in a recent investment relations record that due to unusually high temperatures this year, the production situation of Chinese cabbage heads still depends on the subsequent growth conditions. A message from the Fuling District Government in Chongqing in September indicated that due to the high temperatures, the transplanting time of Chinese cabbage heads has been delayed.
Staff from the company's securities department told Caijing Society reporters that besides increasing offline promotional efforts in marketing to drive revenue growth in the first three quarters, the company is also continuously adjusting its product structure. It has upgraded some products, while also developing new products such as cowpeas, radishes, enriching the product variety.
Behind the revenue growth of Chongqing Fuling Zhacai Group, the significant increase in accounts receivable should not be overlooked. The financial report shows that as of the end of the third quarter, the company's year-end accounts receivable was 0.14 billion yuan, an increase of 12.36 times compared to the same period last year.
However, zhacai itself belongs to a perfectly competitive industry, and it is not easy to open up the market. Regarding chongqing fuling zhacai group, accounts receivable have increased significantly, mainly because the company has increased the credit limit available to customers in order to increase the market share of its products during the reporting period, and the credit used by customers within the year will be recovered by the end of the year.
