Source: international Financial News

RecentlyDanielpokerLanzhou Yellow River released its 2023 annual report, and the company achieved operating income 2.Danielpoker.41 billion yuan, down 9.48% from the same period last year; the net profit lost 46.7207 million yuan, and the loss expanded compared with the same period last year.

In 2024, the Yellow River in Lanzhou is still in a state of loss. The first quarterly report showed that its revenue was 54 million yuan, down 26.86% from the same period last year, while its net profit was 866600 yuan, compared with a loss of 2.9798 million yuan in the same period last year.

From the point of view of the secondary market, Lanzhou Yellow River shares opened higher on April 18 and rose by the daily limit in the afternoon. As of the close, the share price rose 9.95% to 7.07 yuan per share.

The data show that Lanzhou Yellow River is engaged in the production and sale of beer, malt and beverages. The main products are "Yellow River", "Qinghai Lake" series beer and "Yellow River" malt. The company's beer products are mainly sold in Gansu, Qinghai and other northwest markets. The main competitors are Snow, Qingdao and other first-tier brands.

In terms of products, the beer business of Lanzhou Huanghe River was the main performance in 2023, with revenue of 178 million yuan, down 7.94% from the same period last year, accounting for 73.97%; malt revenue of 16 million yuan, down 42.91% from the same period last year, accounting for 6.61%; beverage income was 28 million yuan, accounting for 11.51%.

The decline in the beer business has been affected by a decline in revenue from medium-and high-end beer.

Lanzhou Yellow River medium-and high-grade beer reached 26 million yuan in revenue, down 61.8% from the same period last year. Even if mid-grade and ordinary beer increased by 6.12% and 31.95% respectively compared with the same period last year, it failed to equalize the declining share of medium-and high-end beer.

This is also one of the reasons for the loss of Lanzhou Yellow River. The company said that in 2023, the consumption power and willingness of consumers in Lanzhou Yellow River territorial market declined, the cost of superimposed production and logistics was relatively high, brand reputation and influence, brand younger and higher-end products, as well as marketing investment and channel strength still have a certain gap compared with competitors, resulting in slow moving sales of the company's beer products, annual production and sales volume did not meet expectations, and the main business suffered large losses.

In fact, beer sales in the Yellow River in Lanzhou have continued to decline in the past decade.

In 2011, its beer and beverage sales reached 284,800 kiloliters; in 2018, it fell to 142,000 kiloliters; in 2023, it continued to decline, falling to 54,900 kiloliters, down 14.73 percent from a year earlier.

The main business was sluggish, and the Lanzhou Yellow River investment market did not "benefit" in 2023. Affected by the continued volatility of the A-share market, the company's securities investment disposal and holding income dropped sharply in 2023 compared with the same period last year, resulting in a loss of about 29 million yuan, which is also one of the reasons for the company's loss.

From 2020 to 2022, the revenue of Lanzhou Yellow River reached 307 million yuan, 309 million yuan and 266 million yuan respectively, with year-on-year increases of-32.68%, 0.62% and-13.63%, and net profits of-300 million yuan, 19 million yuan and-29 million yuan respectively. At the same time, its deduction of non-net profit has been negative for six consecutive years.

This has also raised concerns among investors about its delisting.

Recently, the State Council issued some opinions on strengthening supervision and preventing risks to promote the high-quality development of the capital market (hereinafter referred to as the new "National Nine articles"). Shortly after the new "National Nine articles" was promulgated, the CSRC and the Shanghai, Shenzhen and North Stock exchanges took immediate action. The Shanghai and Shenzhen exchanges immediately launched corresponding measures and entered the "soliciting opinions" mode.

In terms of financial delisting, the operating income standard in the financial delisting index of the main board combination is adjusted from "less than 100 million yuan" to "less than 300 million yuan". And to increase the inspection dimension that the total profit is negative in the "which of the net profits before and after deducting non-recurring profits and losses is negative" The revised combination index is "which of the total profit, net profit or net profit after deducting non-recurrent profit or loss is negative and the operating income is less than 300 million yuan".

From this point of view, Lanzhou Yellow River revenue for two consecutive years under 300 million yuan, and profit performance is not optimistic, it has stood on the edge of delisting.