Operator Caijing Yixin/Wen
A few days ago, Shunxin Agriculture announced that Li Qiusheng, the general manager, applied for resignation, and Li Yinglin, the chairman of the board of directors, acted as the general manager. Why did you resign after less than two years in office?
According to the previous announcement, the company appointed Li Qiusheng as the general manager of the company on June 25, 2022, while before that, he was the deputy general manager and chief financial officer of the company.
It is worth mentioning that the company's performance is not very good after he ascended the post. Both revenue and net profit have declined, and the net profit has even lost money for two consecutive years. Is he unable to look at it or resigned under too much pressure?
In fact, according to the announcement, his resignation should be arranged by the company. The announcement shows that he resigned due to job adjustment. After he resigned as the general manager, he still served as a director of the company, a member of the Nomination Committee and the Strategy and Investment Committee of the Board of Directors. However, these positions are not practical compared with the previous ones.
In addition, the operator Caijing noticed that his previous general manager, An Yuanzhi, had not been in office for long, and he had been in office for only four years from 2018 to 2022. According to the announcement at that time, An Yuanzhi resigned due to job transfer, and after his resignation, he no longer held any position in the company and its holding subsidiaries.
The frequent change of such an important position as general manager is not good for listed companies, but considering the performance of Shunxin Agriculture, it is understandable that a person is urgently needed to break the situation. The previous financial report showed that the company's real estate business continued to suffer losses after 2016. From that year to 2022 alone, the company's Shunxin Jiayu, which is responsible for real estate development, suffered losses of 2.325 billion yuan, which also affected the performance of Shunxin Agriculture. In 2022, Shunxin Agriculture lost 673 million yuan for the first time due to serious losses in its real estate business. However, after the company divested the real estate in 2023, it still lost 295.6 million yuan.
In the first quarter of this year, Shunxin Agriculture realized an operating income of 4.057 billion yuan, down 0.75% year on year, and its attributable net profit was 451 million yuan, up 37.42% year on year. Among the company's two major businesses, only liquor is still profitable. No wonder investors frequently ask when to spin off the pork business.
However, according to the company's latest response, the company has no plan to spin off the pork industry. In fact, recently, the pig price has continued to rise, from about 14.8 yuan/kg before the May Day holiday to about 15.4 yuan/kg on May 17. As of May 19, the average price of pigs nationwide was about 15.8 yuan/kg, and the price of pigs in many places exceeded 16 yuan/kg.
How will Shunxin's agriculture develop in the future? The operator Caijing will continue to pay attention.
