Operator Caijing Yixin/Wen
Recently, Hengshun Vinegar also released the first quarter report of this year when it released its 2023 annual report. However, the company's revenue and net profit declined both last year and this year. I wonder what Chairman Hang Zhuhong thinks of such a performance?
According to the financial report, Hengshun Vinegar achieved a revenue of 2.106 billion yuan last year, a year-on-year decrease of 1.52%, and the net profit attributable to the parent company was 86.8994 million yuan, a year-on-year decrease of 37.03%. Although the slight decrease in revenue was nothing, the decline in net profit was worth explaining.
To be specific, the revenue of the company's main product vinegar series products increased last year, while the revenue of other wine and sauce series products declined significantly, leading to a decline in the total revenue. However, the financial report did not disclose which part of the profits decreased more.
The company's financial report shows that the decline of net profit is mainly due to the adjustment of revenue structure and the increase of market promotion expenses. The operator Caijing. com learned from the financial report that the company's promotion expense last year was 163 million yuan, an increase of 45.13 million yuan or 38.18% over the same period last year.
What's worse, in the first quarter of this year, the company continued the situation of profit decline, and the extent of decline expanded. Specifically, the company achieved revenue of 460 million, a year-on-year decrease of 24.89%, and net profit of 55.2161 million, a year-on-year decrease of 24.23%. The situation is not optimistic.
It is worth mentioning that although the net profit of Hengshun Vinegar fell a lot last year, the company's dividend intensity was generous. According to the company's 2023 profit distribution plan, the company will distribute cash dividends of 0.07 yuan (tax included) per share to all shareholders with a total share capital of 1112956032 shares. According to this calculation, the company will distribute cash dividends of 77.205 million yuan in total, accounting for 88.84% of the attributable net profits in 2023.
Not only did the performance decline, but the company's core executives also resigned recently. The position of general manager, which had been vacant for two years, left after he Chunyang took office for half a year and was vacant again. On the one hand, the performance was poor, and on the other hand, the senior executives left. I don't know what Chairman Hang Zhuhong thinks of this situation.
