The gross profit margin of Zhujiang Beer in the first half of the year, the subsidiary had compensated 270,000 due to the bottle explosion

The net profit of the Zhujiang Beer in the first half of the year increased slightly, but the gross profit margin of beer products declined, revenue mainly relied on a single area, and a beer bottle explosion occurred many times.

On August 25, Guangzhou Zhujiang Beer Co., Ltd. (hereinafter referred to as: Zhujiang Beer, 002461.SZ) released the 2022 half -year report that the company achieved operating income of 2.432 billion yuan during the reporting period, an increase of 9.68%year -on -year; The net profit of shareholders was 314 million yuan, an increase of 1.06%year -on -year.

Although the net profit of the Pearl River Beer in the first half of 2022, its gross profit margin of beer products declined and revenue relied on a single area. It is worth noting that the eight -level disability of consumers caused by the explosion of the bottle explosion, Meizhou Zhujiang Beer was sentenced to 270,000 yuan. In response to the above situation, it was found that the interview letter to the Pearl River Beer's public mailbox requested doubts. As of press time, the Pearl River Beer did not give a reasonable explanation.

Revenue net profit increase slightly, beer products have declined

Public information shows that Zhujiang Beer is a large -scale modern state -owned holding enterprise with a coordinated development and supporting development of the packaging industry with the beer brewing industry and the beer culture industry. In 2010, it was listed on the Shenzhen Stock Exchange, with 16 subordinate companies, including 12 beer companies, 2 packaging companies, and 2 cultural industry companies.

On August 25, the Zhujiang Beer released a half -year report in 2022 that during the reporting period, the company realized operating income of 2.432 billion yuan, an increase of 9.68%year -on -year; the net profit attributable to shareholders of listed companies was 314 million yuan, an increase of 1.06%year -on -year; The company's shareholders' deduction of non -recurring profit and loss net profit was 286 million yuan, an increase of 6.42%year -on -year.

Source: Zhujiang Beer Company Announcement

From the perspective of the industry, the sales of beer products are the main source of income of the Pearl River beer. In addition, the company also has yeast feed sales, packaging materials, leased catering services and other businesses. In the first half of this year, Zhujiang Beer's beer sales operating income was 2.308 billion yuan, gross profit margin was 41.76%, revenue increased by 10.38%year -on -year, and the gross profit margin fell by 4.99%year -on -year. A decrease of 13.61%, and the gross profit margin fell 4.58%year -on -year. According to relevant persons in the industry, the decline in the gross profit margin of the main business may be the reason why the company's overall profitability is weakened.

Source: Zhujiang Beer Company Announcement

The announcement shows that the main raw materials of Pearl River Beer are barley malt, accounting for about 70%of the cost of beer production. Part of the company's malt manufactured by imported beer wheat is mainly purchased from domestic professional malt production companies. The price fluctuation of barley malt will also directly affect the operating cost and gross profit margin level of the company's products, thereby affecting the company's profitability.

Because beer transportation costs are high, the main sales areas of Zhujiang Beer are Guangdong. The half -annual report in 2022 shows that the operating income of Zhujiang Beer in South China is 2.25 billion yuan, accounting for 92.38%of the total revenue; 44.57%of the gross profit margin, a year -on -year decrease of 4.55%; operating income in other regions is 185 million yuan, operating income compared with the same period of the previous year last year. Grow up 25.7%. It can be seen that the sales of Zhujiang Beer mainly depend on South China. From the perspective of the number of dealers, as of the end of June, there were 1,114 dealers, of which 461 were located in Guangdong.

Source: Zhujiang Beer Company Announcement

The subsidiary was sentenced to 270,000 for the bottle explosion

It is worth noting that due to the explosion of the bottle, the Pearl River Beer subsidiary Meizhou Zhujiang Beer was sentenced to compensate 270,000 yuan.

A referee document released by China Judgment Documents on June 8 shows that on June 14, 2020, the plaintiff Bai Guoming and others bought two boxes of Pearl River beer. The beer bottle exploded, and the fragments produced hit Bai Guoming's left eye. The Bai Guoming Jing was diagnosed with a left -eye corneal injury and a broken eye. It was hospitalized for 13 days and spent about 20,000 yuan in medical expenses. The appraisal opinion is: left eye injury constitutes eight -level disability.

The referee shows that related products are produced by Meizhou Zhujiang Beer Co., Ltd. (hereinafter referred to as: Pearl River in Meizhou). The company's investigation shows that the Pearl River in Meizhou is a wholly -owned subsidiary of the Pearl River Beer.

Meizhou Zhujiang argued that the case involved in the beer bottle meets national standards and does not belong to the defective products; the explosion that occurs only on the shoulder of the bottle after identification. Production and quality meet the national standards of beer bottles. In this regard, the court finally determined that the plaintiff had completed the liability of the proof, that is, it proved that the beer bottle had burst and caused the plaintiff to be injured. The burst occurred during normal placement. To normal people's proof obligations. The first instance judgment showed that the Pearl River in Meizhou was sentenced to compensation for the plaintiff's medical expenses, misunderstanding, and mental loss.

Source: China Magistrate Document Network

It is worth noting that this is not the first time that the Zhujiang Beer has exposed the bottle explosion accident. According to media reports, in 2002, when consumers dinner in a restaurant in Shifeng District, a bottle of Pearl River beer on the table suddenly exploded, and glass fragments flew into his left eye. It coincided with Xiong at the neighboring table and got up to send guests, and the explosive glass fragments scratched Xiong's right elbow.

In 2015, consumer Zhou Haiqi said that a beer bottle at the dining table in the living room broke her own explosion. Her daughter Zhou Yanqing was injured by glass fragments. The diagnosis of the left eye was completely blind.In addition, black cat complaints show that the Pearl River beer has problems such as impurities in beer and not redeemed by winning prizes.Specifically, consumers complained in the black cat complaint that "the Pearl River Beer has impurities and it is sour."

Source: Black Cat Complaint

The net profit of the Zhujiang Beer in the first half of the year has slightly increased, the main product beer hair rate is declined, revenue relies on a single area, and the beer bottle explosion and beer have impurities.In this case, Zhujiang Beer still needs to pay attention to food quality and safety issues.

(Reporter Luo Xuefeng Financial Researcher Cao Xiaoyi)

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