The "first shares of noodles" profit -type decline, Keming Food helplessly fundraising and repaying debt

Jimu Journalist Yun Ying

A few days ago, "Noodle No. 1" Kuming Food released a fixed increase plan. According to the plan, the company will issue a total of no more than 45 million shares to the actual controller family members of the family members, Chen Hong, Duan Juxiang, and Chen Hui, and a total of 423 million yuan will be raised. Moral funds and repayment of interest borrowings, most of which raised funds cannot be used for production and operation, but for repayment, Keming Food's move has worried the market.

Keming Food is the first share of the noodles (Picture Source: Enterprise Official Website)

It is reported that the company had planned a fixed increase plan for the same reason in 2020. At that time, it was intended to issue 40 million shares to Chen Hong for only 15.68 yuan/share, raising 627 million yuan. However, the plan was announced at the end of 2021.

Tianyancha shows that Kuming Noodle Industry Co., Ltd., founded by Chen Keming, was established in 1997 and was listed on the Shenzhen Stock Exchange and became the "first share of noodles." In June last year, the name of Keming Noodle Co., Ltd. was changed to "Chen Keming Food Co., Ltd." (the following paragraphs may be expressed as "listed companies"). At present, Kuming's facial brands include "Chen Keming", "Golden Mai Kitchen" and "Bowl Noodles". The flour brands include "Chen Keming" and "Wuwei Liang Warehouse", which is convenient for food brands to "grain dojo".

It is understood that the largest shareholder of Chen Keming Food Co., Ltd. of the listed company is Hunan Keming Food Group Co., Ltd., and the shareholders of Hunan Keming Food Group Co., Ltd. include Duan Juxiang, Chen Keming, Chen Hui, Chen Kezhong, Chen Yuanzhi, Chen Can, all of which are Chen. Family members show that the Chen family represented by Chen Keming has a profound impact on listed companies. In fact, Chen Keming himself served as chairman of the listed company, his son Chen Hong, and his daughter Chen Hui served as the general manager and vice chairman, and his wife Duan Juxiang and his brother Chen Kezhong were also directors of the company.

After the completion of the fixed increase, Chen Keming's son Chen Hong's direct shareholding rose to 7.57%; his spouse Duan Juxiang's direct shareholding ratio rose to 3.95%; his daughter Chen Hui's direct shareholding ratio rose to 1.35%. Chen Keming, Chen Hong, Duan Juxiang, and Chen Hui will control the voting rights of 37.49%of listed companies, while Chen Keming and his family members will control the voting rights of 39.14%of listed companies.

However, the financial report data of listed companies is not optimistic, and its debt pressure is difficult to solve in the short term.

The financial report shows that from the quarter to the first quarter of 2022, listed companies achieved revenue of 3.034 billion yuan, 3.958 billion yuan, 4.327 billion yuan, and 1.098 billion yuan respectively; net profit was 207 million yuan, 293 million yuan, 67 million yuan, and 0.60 100 million yuan.

The main business noodles have been hovering at more than 2 billion yuan for many years. Data show that from 2019 to 2021, the company's largest noodle revenue with the company's revenue is 2.383 billion yuan, 2.794 billion yuan, and 2.470 billion yuan; Its gross profit margin was 27.17%, 27.59%, and 23.06%, respectively.

In terms of quarterly, Keming Food's revenue in the 4th quarter last year was 946 million yuan, 1.029 billion yuan, 1.247 billion yuan, and 1.098 billion yuan, respectively. Large.

By 2021, Keming Food achieved revenue of 4.327 billion yuan, while net profit attributable to shareholders of listed companies would be 67 million yuan, and the non -net profit deducted was 21 million yuan, a year -on -year decrease of 76.95%and 91.97%, showing a decline in the cliff -like decline. Essence

In addition, as of the end of 2021, the net cash flow of Keming Food's business activities decreased from 411 million yuan at the end of 2020 to 354 million yuan. In the first quarter of 2022, the net cash flow of Keming Food's business activities was 110 million yuan, a year -on -year decrease of 49.41%. In other words, while Kuming Food has fluctuated, the ability to produce cash flow in the main business is also declining.

At the same time, from 2019 to 2021, the operating funds of listed companies were -135 million yuan, 229 million yuan, and -90.94 million yuan, respectively. As of the end of March 2022, its operating funds gap reached 115 million yuan.

In 2021, the consolidated asset -liability ratio of listed companies was 33.33%, the flow ratio was 0.99, and the speed ratio was 0.38; as of the end of March 2022, the company's consolidated asset -liability ratio was 35.00%, the flow ratio was 0.91, and the speed ratio was 0.40. And its liabilities accounted for 92.63%of total liabilities, facing great short -term debt repayment pressure.

Industry insiders said that Keming's food performance declined because the entire consumer market declined, and the competition between noodle companies was even more intense. The funds raised by Keming Foods were used for debt repayment. Fundamentally improved its production and operation conditions. Once the industry has wind and grass, Keming food is still difficult to solve the difficulties.

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