Metal ham is "troublesome" this year: the letter is illegal and the regulatory layer is questioned due to the large performance of the performance

In 2022, the gold ham was "troublesome". The suspected letter was filed in violation of the rules. The performance declined.

Print Ham Co., Ltd. (hereinafter referred to as: gold ham, 002515.SZ) issued an announcement on the termination of non -public issuance A -share stocks in 2021, the company originally planned to raise funds to Ren Guilong non -public offering of shares of stocks not exceeding RMB 1.241 billion Essence The company's suspected information disclosure was investigated by the China Securities Regulatory Commission, which caused the company to currently not meet the issuance conditions of non -public issuance shares.

Since the beginning of this year, the gold ham has continuously received a letter of attention and supervision from the Shenzhen Stock Exchange. The administrative supervision measures from the Zhejiang Securities Regulatory Bureau decided to decide and be investigated by the Securities Regulatory Commission. In April, the gold ham also received an inquiry letter from the Shenzhen Stock Exchange, requiring the reasons for the company's operating income and net profit in the first quarter of 2021 and the first quarter of 2022, explaining that the account receivable turnover rate during the reporting period was significantly significantly significantly compared with the same period of the previous year. The causes and rationality of the decline.

During the Shanghai epidemic, the bacon produced by Jinhua gold ham in Jing'an District and Baoshan District of Shanghai and Baoshan District grew. Why is the problem of gold ham constant? How does a series of problems affect the gold ham? In response to the above situation, it was found that the network sent an interview letter to the gold ham to explain. But as of press time, the gold ham did not give a reasonable explanation.

Food safety deposit on food safety in illegal regulations

Since this year, gold ham has been "troublesome".

On May 28, the gold ham issued an announcement on the termination of non -public issuance of A -share shares in 2021. The company's suspected information disclosure was investigated by the China Securities Regulatory Commission in violation of the rules, which caused the company to currently not meet the issuance conditions of non -public offering shares. At the same time, the company decided to terminate the non -public issuance of issuing A. Stocks.

Earlier, the gold ham had announced a 1.241 billion yuan of capital, mainly used for the annual output of 50,000 tons of meat product digital intelligent industrial bases, three -dimensional cold storage two digital intelligent projects, and repaying bank loans. The total investment of the project reached 1.092 billion yuan. According to Article 11 of Chapter 2 Section 11 of the "Administrative Measures for the Issuance of Securities of Listed Companies", listed companies or their current directors and senior managers are filed by the judicial organs for investigation or suspected illegal and violations of the law. It is not allowed to publicize securities.

Source: announcement

Recently, gold ham said that the company's operations are currently normal and all tasks have been carried out in an orderly manner. The downward settlement of pork has a certain impact on the company's brand meat business, and ham and specialty meat product business continue to maintain steady development. The company has sufficient book capital, and related projects are still being advanced in an orderly manner.

It is worth noting that this year's gold ham frequent regulatory letter and attention letter. At the end of January 2022, in the letter of follower issued by the Shenzhen Stock Exchange to the gold ham, it required the gold ham to explain the futures traders to liquidate the contract, the specific time of large investment losses, and the failure to fulfill timely performance The reasons and rationality of the information disclosure obligations; a regulatory letter was issued in March, and the internal control verification report was "non -standard" in the same month; in April, the gold ham was investigated by the Securities Regulatory Commission for suspected information disclosure and violations of the law. Essence

In addition to frequent regulatory letters, there are also problems with food safety of gold ham.

In May this year, during the Shanghai outbreak, the bacon produced by Jinhua gold ham organized by Jing'an District and Baoshan District had grown. Some netizens questioned the "due to long -distance storage and transportation" mentioned in the above -mentioned description in the above situation, saying that the production date it received was May 5, 2022. what relationship."

Source: Weibo

The solution given by the golden Chinese ham is: For the residents who are not satisfied with the residents who are not satisfied with the residents' homes, the company can replace the bacon with sausage or sauce products, and promise to complete the return and exchange delivery within 3 days. Essence

In addition, in the black cat complaint, some consumers said that "the sausage purchased by the Jinhua gold ham flagship store, and found a foreign body twice. ","

Source: Black Cat Complaint

The performance of the performance of the performance decline

The gold ham in 2022 or the autumn of events. In addition to the problems of food safety, the performance has also declined.

On April 19, the gold ham released the first quarter of 2022 reports. During the reporting period, the company achieved total operating income of 137 million yuan, a year -on -year decrease of 45.14%; net profit of home mother was 22.133 million yuan, a year -on -year decrease of 63.19%; non -net profit of 2170.99 10,000 yuan, a year -on -year decrease of 59.72%; the net cash flow generated by business activities was 94.3679 million yuan, a year -on -year decrease of 5.73%.

Source: announcement

Earlier, the gold ham issued a 2021 annual report that the market income of the gold ham was about 506 million yuan, a year -on -year decrease of 28.79%; the net profit of the mother -in -law was about 42.8539 million yuan, a year -on -year decrease of 27.74%; 78.86%year -on -year.

Source: announcement

In this regard, the Shenzhen Stock Exchange issued a inquiry letter to the gold ham on April 23, requiring the gold ham to explain the company's operating income and net profit in the first quarter of 2021 and 2022; it shows that the company's inventory book value in the past five years has flowed The reasons and rationality of the proportion of assets are greatly improved; whether it is required to explain whether the actual controller's change, suspected illegal law and violations, etc. have an impact on the company's operations. On May 10, the golden ham responded to the Shenzhen Stock Exchange's 2021 report that the company's 2021 performance declined greatly, mainly due to the decline in brand meat business sales performance. In the first quarter of 2021, the price of pork in my country continued to run at a high level in 2020, and the price of domestic pork continued to fall from the second quarter of 2021. Until the first quarter of 2022 pressure.

According to the data disclosed in the inquiry letter in the inquiry letter, the price of imported frozen pork purchased by the company in 2020 was 20.41 yuan/kg, and in 2021 was 17.89 yuan/kg, a year -on -year decrease of 12.35%. After entering 2021, the domestic pork market price decreased significantly. The overall purchase price dropped from 44.88 yuan/kg in 2020 to 28.3 yuan/kg in 2021, a decrease of 36.94%.

Source: announcement

The company believes that the main reason for the weak sales of brand meat business and the deterioration of profitability is the decline in domestic pork prices, and the company's ham products and specialty meat products business revenue has decreased slightly. Other business income is basically the same. , The overall consumption of domestic consumption is affected.

Regarding the inventory, the inquiry letter of the gold ham replied: By the end of 2021, the company's book value was 574 million yuan at the end of the inventory period, of which the book value of the raw material was 253 million yuan, and the company's account of the inventory price was 21.41 million yuan. It accounts for 7.81%of the book balance of raw materials. Regarding the rationality of this impairment measure, the gold ham said that in the first and second quarters of 2021, the average wholesale price of pork nationwide fell a large decline, and there was no clear production receiving plan in 2022. Therefore, by 2021, 2021 At the end of the year, the company's inventory signs of impairment. According to the number of cosmetic deposits and referring to the market price, the inventory price preparation was provided.

Source: announcement

The gold ham said that the company's inventory book value of the company in 2019 and 2020 rose faster. On the one hand, it was mainly the influence of African swine fever. Out of cost reduction and responsibility for government pork reserve tasks, the company increased pork procurement; another In terms of the rapid development and continuous advancement of the brand meat business, the corresponding raw material amount in inventory has increased. At the same time, due to the long production cycle of the company's main product ham, the company holds a greater product value.

In addition to the performance, the Shenzhen Stock Exchange also mentioned the 2021 founder Shi Yanjun's transfer of gold ham control and related performance compensation.

On October 11, 2021, Angeaba transferred 20.30%of the gold ham to Ren Guilong and signed a three -party performance commitment with Shi Yanjun, promising that the company's net profit should not be less than 100 million yuan in 2021. According to the annual report of gold ham 2021, the company's net profit was 42.8539 million yuan, and the non -net profit was 21.1253 million yuan, which was lower than 80%of the commitment performance, triggering performance compensation obligations.

However, as of May 10, Angiba and Shi Yanjun had not paid the performance compensation of RMB 58.777 million. At the same time, Ren Guilong still has some shares of the shares that have not been paid. Therefore, both parties to the transaction stated that they will fully negotiate and implement the compensation for compensation for the transfer of compensation for unpaid shares.

Source: announcement

In addition, the gold ham said that in the middle of September 2021, the futures traders did not conduct a liquidation operation in accordance with the instructions. The control of the control is achieved steadily, and the rectification of the relevant internal control defects is initially completed.

(Reporter Luo Xuefeng Financial Researcher Cao Xiaoyi)

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