Zhang Xiaoquan's interim report was announced: net profit decreased by 20%, and sales costs increased by 70%

Zhongxin Jingwei, August 29th. Zhang Xiaoquan, a century -old name of "Kitchen Knife Can't Shooting Garlic", announced the results in the first half of the year.

On the evening of the 28th, Zhang Xiaoquan disclosed the semi -annual report that the operating income was 439 million yuan during the period, a year -on -year increase of 32.79%; the net profit attributable to shareholders of listed companies was 34.2895 million yuan, a year -on -year decrease of 22.52%; net profit after deduction was 280.56 million yuan. , Year -on -year decreased by 35.31%; basic earnings per share was 0.22 yuan, a year -on -year decrease of 42.11%.

Sales costs increased by 50%

Regarding the reasons for the decline in net profit, Zhang Xiaoquan said that due to the influence of the epidemic delivery of logistics and the influence on the offline retail channels centered on the business entity, and Yangjiang Zhang Xiaoquan was officially put into production, it was still in the climbing period of production capacity. The unit manufacturing cost is high.

According to the semi -annual report, Zhang Xiaoquan is a modern life hardware manufacturing enterprise integrating design, research and development, production, sales and service. It is the first listed company in the Chinese knife cut industry. It was founded in 1628. The headquarters was established in Hangzhou, China. At present, there are two major R & D and manufacturing bases in Hangzhou and Yangjiang, Zhejiang, and a total of 946 employees, which are the first batch of Chinese old names.

From the perspective of the product, the knife -cutting gear achieved operating income of 283 million yuan in the first half of the year, a year -on -year increase of 21.39%; the gross profit margin was 18.17%, a year -on -year decrease of 1.67%.

Source: Zhang Xiaoquan Half Annual Report

In terms of R & D investment, in the first half of the year, Zhang Xiaoquan's R & D investment was 11.3269 million yuan, an increase of 11.76%year -on -year. Among them, most of them are wages and benefits.

In comparison, the sales cost of the same period reached 32,131,900 yuan, an increase of 70.89%year -on -year, and the sales cost was about 2.8 times investment in R & D. Zhang Xiaoquan said that the main sales scale of the company has expanded, and the relevant expenses have increased accordingly; the company's direct sales model increases, and the overall sales cost rate increases; the cost of acquisition of traditional e -commerce channels has increased.

Source: Zhang Xiaoquan Half Annual Report

After sorting out past performance, from 2019 to 2021, Zhang Xiaoquan's R & D investment was 117 million yuan, 12 billion yuan, and 23 million yuan, respectively, accounting for 3.01%, 3.51%, and 3.47%of the operating income of the year, without significantly increased; during the same period, sales costs were It was 64 million yuan, 83 million yuan, and 117 million yuan, respectively. From 2021, Zhang Xiaoquan's sales cost was about 5.1 times investment in R & D.

In terms of shareholders, as of June 30, the number of shareholders of Zhang Xiaoquan was 11,800 households, a decrease of 2142 households from March 31, a decrease of 15.37%, and declined in three consecutive quarters. The number of households holding circulation shares is 2,976 shares, and the value of the circulating stock market is 52,900 yuan.

The stock price "is the pinnacle of listing"

In July of this year, some consumers used Zhang Xiaoquan Kitchen knife to shoot garlic after shooting garlic. "Zhang Xiaoquan customer service said that the kitchen knife could not shoot garlic" immediately appeared on the hot search.

At that time, Zhang Xiaoquan Tmall's official flagship store customer service stated that it is not recommended to use Zhang Xiaoquan kitchen knife to shoot garlic and cucumber. The higher the blade of the hardness, the better the sharpness, and the higher the sharpness. However, this kind of knife is relatively brittle, and it is easy to break when bumping or gravity shooting. If the family uses it, you can put the tool on the garlic and gently press the knife surface with the palm of the hand to achieve the effect of the garlic.

On July 15th, Zhang Xiaoquan's official WeChat released the situation stated that consumers in the incident purchased the company's "Dragon Bark Cut Two -Sword" in September 2020 and contacted the e -commerce channel on July 6, 2022 The dealer reflects the problem of cutting the knife surface. On July 7th, the dealer's customer service responses were improperly caused by public opinion. On July 14th, the company's official customer service once again contacted consumers, apologizing for inappropriate customer service, and presented a new knife to express their sincerity, and consumers selected one of the brand flagship stores (already shipped).

For whether the tool can shoot garlic, Zhang Xiaoquan said, "Generally speaking, conventional knives can shoot garlic. At the same time, the company also reminds consumers that not all tools are suitable for garlic, and some hardness is higher. Or if there is a dedicated tool, if it is used to shoot garlic, there is a risk of breaking the knife. "

Zhang Xiaoquan, known as "the first share of the knife cut", was listed on the GEM of the Shenzhen Stock Exchange in September 2021. The issue price was 6.90 yuan.

On the first day of listing, Zhang Xiaoquan's opening increased by 331%, and it once rushed to 38.66 yuan during the market. As of the final price of 34.09 yuan, an increase of 394.06%, with a total market value of 5.318 billion yuan.

38.66 yuan also became the pinnacle of Zhang Xiaoquan's stock price, and the stock price has fallen all the way. As of the close of August 26 (last Friday), Zhang Xiaoquan quoted 15.50 yuan, with a total market value of 2.418 billion yuan, which once fell to a record low of 15.46 yuan during the market, down 60%compared to the highest point. (Zhongxin Jingwei APP)

(The views in the article are for reference only, do not constitute investment suggestions, have risks in investment, and need to be cautious to enter the market.)

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