Recently, listed companies have announced their 2021 annual performance reports, and there is a lot of information in them that is shocking.
Haidilao, which made a profit of 310 million yuan last year, suffered a loss of 4.16 billion yuan for the first time since its listing; Didi, which achieved revenue of 173.827 billion yuan, had a profit of -49.33 billion yuan; Sophia exceeded 100 years on its 10th anniversary of listing 100 million mark, but the profit is only 123 million...
From the disillusionment of Haidilao’s myth, to Didi becoming the “loss king” of the Internet, to Sophia’s almost useless work for a year, entrepreneurs are warned to pay attention to the “healthy growth” of their enterprises.
It is not difficult to find that when an industry is in a stage of increasing concentration, almost every company will make every effort to increase sales and occupy market position. At this time, it is often overlooked that maintaining profitability is the foundation of the company's life. . The current ceramic industry also sends out the same danger signals.
Mona Lisa
Profit will decrease by 251 million yuan in 2021
On April 23, Mona Lisa released its 2021 annual performance report. The report shows that Mona Lisa achieved revenue of 6.987 billion yuan in 2021, compared with 4.864 billion yuan in 2020, a year-on-year increase of 43.64%; the net profit attributable to shareholders of listed companies was 315 million yuan, compared with 566 million yuan in 2020, a year-on-year decrease 44.41%.
In terms of quarters, Mona Lisa’s operating income from the first to the fourth quarter of 2021 was 996 million yuan, 2.084 billion yuan, 1.847 billion yuan, and 2.059 billion yuan respectively, and its net profits in the same period were 47 million yuan and 235 million yuan respectively. yuan, 135 million yuan, -102 million yuan.
It is understood that Mona Lisa’s ceramic tile production volume during the reporting period was 161 million square meters, a year-on-year increase of 41.06%; ceramic tile sales volume was 153 million square meters, a year-on-year increase of 51.93%. The substantial growth in production and sales has further boostedPerformance growth.
As for the reason why the performance has increased significantly but the net profit has declined, Mona Lisa said that the main reason is that the prices of energy fuels such as natural gas and coal have increased significantly, and raw materials such as blanks and glazes have also increased significantly, which has a greater impact on the company's profits. ; In addition, as the company's sales scale expands, inventories and accounts receivable increase accordingly, some real estate customers default on their debts, and expected credit losses are high, and the company's provision for impairment increases accordingly.
Dongpeng Holdings
Profit expected to drop by 80%-85% in 2021
On January 29, Dongpeng Holdings released its 2021 performance forecast. It is expected to achieve revenue of 7.516 billion to 8.590 billion yuan in 2021, a year-on-year increase of 5% to 20%. The net profit range attributable to shareholders of the listed company is expected to be a profit of 34 million yuan to 51 million yuan; the net profit range after deducting non-recurring gains and losses is a loss of 80 million yuan to 120 million yuan.
On April 23, Dongpeng Holdings issued an announcement on the revision of its 2021 performance forecast. Compared with the previous performance forecast, the revised net profit attributable to shareholders of listed companies, net profit after deducting non-recurring gains and losses, and basic Earnings per share increased.
The announcement shows that the revised net profit attributable to shareholders of listed companies in 2021 is expected to be 130 million yuan-170 million yuan, a year-on-year decrease of 80%-85%; the net profit range after deducting non-recurring gains and losses is a loss of 40 million yuan Yuan – 60 million yuan, a decrease of 92% - 95% compared with the same period last year.
Regarding the reasons for the performance revision, Dongpeng Holdings stated that some real estate companies will have liquidity problems in 2021, and commercial acceptance bills will fail to be paid overdue. Because there are signs of impairment in the receivables from these real estate industry customers, the company plans to accrue expected credit losses and estimates the expected credit losses on accounts receivable, notes receivable and other receivables. At present, the company makes prudent judgments on some accounting estimates based on the progress of debt recovery from real estate customers and changes in objective circumstances. It is expected that the recovery ratio of receivables from some real estate customers will increase, and the corresponding expected credit loss ratio will decrease..
Diou Home
Profit is expected to drop by 80-90% in 2021
On January 29, Diou Home Furnishing released its 2021 performance forecast. It is expected that the company’s net profit attributable to shareholders of listed companies in 2021 will be 270 million yuan to 369 million yuan, and the net profit after deducting non-recurring gains and losses will be 2.57 billion -353 million yuan.
On April 23, Diou Home Furnishing released a revised announcement for its 2021 performance forecast. Although the correction announcement was issued on the same day as Dongpeng Holdings, the difference is that the nature of Diou Home's correction is a "downward revision."
After the revision, the net profit attributable to shareholders of listed companies in 2021 is expected to be 51.75 million yuan-77.5 million yuan, a year-on-year decrease of 86.32%-90.87%; the net profit after deducting extraordinary gains and losses is expected to be 55.31 million yuan-81.06 million yuan Yuan, a decrease of 83.73%-88.90% compared with the same period last year.
Dio Home explained the reason for the performance revision in the announcement: when the company made its previous performance announcement, it made individual impairment calculations on the receivables of some real estate developers mainly based on the situation of the company's downstream real estate developer customers at that time. carry. Based on the actual situation of the downstream real estate market, the company made prudent judgments on some accounting estimates and adjusted the scope of real estate developer customers and the provision ratio for individual impairment provisions.
Huida Bathroom
First quarter profit fell 103.43%
On April 21, Huida Sanitary Ware released its performance announcement for the first quarter of 2022. From January to March, it achieved revenue of approximately 680 million yuan, down year-on-year.A decrease of 4.2%; the net profit attributable to shareholders of listed companies was approximately -1.38 million yuan, a year-on-year decrease of 103.43%.
Huida Sanitary Ware explained the decline in net profit in the announcement: the net profit attributable to shareholders of listed companies in the current period decreased by 103.43% year-on-year, mainly due to a year-on-year decrease of 5.54 percentage points in gross profit margin; the decrease in gross profit margin was mainly due to This is due to the increase in fixed costs due to the suspension of production at the Tangshan base due to the epidemic.
The 2021 performance announcement previously released by Huida Sanitary Ware showed that the company achieved revenue of 3.893 billion yuan in 2021, a year-on-year increase of 20.98%; the net profit attributable to shareholders of listed companies was 235 million yuan, a year-on-year decrease of 23.44%. Quarterly, from the first to fourth quarters of 2021, Huida Sanitary Ware's operating income was 709 million yuan, 1.034 billion yuan, 1.095 billion yuan and 1.054 billion yuan respectively, and its net profits in the same period were 40.2311 million yuan, 71.5674 million yuan and 114.74 million yuan respectively. Yuanhe 8.7912 million yuan. It can be seen that the trend of profit decline has been obvious in the fourth quarter of last year.
The announcement shows that there are many reasons for the company's profit decline. It is worth mentioning that its operating costs and accounts receivable have increased significantly. In 2021, Huida Sanitary Ware's operating costs were 2.816 billion yuan, a year-on-year increase of 27.45%; of which sales expenses were 323 million yuan, a year-on-year increase of 21.86%. As of the end of 2021, Huida Sanitary Ware's accounts receivable were 961 million yuan, an increase of 39.37% compared with the same period last year.
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In fact, except for a few listed companies whose financial data is available, most companies in the industry are also facing a sharp decline in profits. In particular, the rising prices of energy and raw materials have led to high production costs, and some ceramic companies have been forced to stop kilns and production; national freight has been affected by the epidemic, and goods cannot be shipped, and freight rates have increased sharply, which has also affected the sales performance of ceramic companies. Seriously frustrated.
Some insiders predict that in the past few months of 2022, at least half of the ceramic companies will not be able to achieve their performance targets, and many are even experiencing losses. For small and medium-sized ceramic enterprises surviving in the cracks, life will become even more difficult.
