Zhangzidao (002069) released its 2021 annual performance forecast on the evening of January 20, and the company expects to achieve a net profit of 6 million yuan – 9 million yuan in 2021, down 59.59% - 39.39% from the same period last year, and a profit of 14.8495 million yuan in the same period last year; and a loss of 80 million yuan – 120 million yuan, an increase of 4.41% - 16.61% over the same period of the previous year, and a loss of 144 million yuan in the same period last year.
It is worth mentioning that Zhangzidao is expected to make an impairment provision of 28.7044 million yuan for the inventory of bottom-sown Ezo scallops with a cost of 73.3924 million yuan for the 195845 mu of sea area that will be put into seedlings in 2020.
The annual performance pre-profit is 6-9 million yuan
As for the reasons for the change in performance, Zhangzidao said that due to the greater impact of the new crown epidemic and the international trade situation on the company's import and export business, the input and output capacity of marine ranches has not yet fully recovered, the continuous appreciation of the renminbi has led to foreign currency asset exchange losses, the settlement of shareholder litigation cases and the corresponding expenses brought by expected liabilities, and the impairment of some assets has dragged down the company's overall performance. During the reporting period, the sale of related assets of Long Island Company and Zhuanghe Branch, the receipt of government subsidies and other non-recurring profit and loss items increased, the company is expected to make a profit of 6 million-9 million yuan for the whole year, and it is expected that the net assets attributable to the shareholders of the listed company at the end of the year will be positive.
On the evening of November 11, 2019, Zhangzidao announced that on November 7, 2019, the 2019 autumn bottom-sown Ezo scallop sampling campaign was launched, and the sampling test is expected to end by mid-November 2019. Based on the bottom-sown scallops collected at the sampling site on November 8 and 9, 2019, a large proportion of bottom-sown scallops have died recently, of which the proportion of dead shells in some seas accounts for more than 80%.
After that, Zhangzidao proposed to further close the exposure to maritime risks, reduce the scale of aquaculture sea areas, reduce the cost of sea area use gold, focus on advantageous projects with a good profit base, accelerate the slimming plan, and timely close non-main profitable investment projects, significantly reduce expenses, and improve the company's operating efficiency and continuous operation ability.
On the evening of January 3, 2020, Zhangzidao announced that it intends to transfer the leasehold rights and seabed inventory used in the four sea areas of Hiroshima Island, Changhai County, and the transaction price of the asset transfer is based on the appraisal value as a reference, and the total price is determined after full negotiation and negotiation between the two parties to the transaction, and the total price is 101 million yuan.
Subsequently, Zhangzidao announced on the evening of April 1 that it intends to transfer 75% of the equity of Central Refrigeration to Puleng Company, and the transaction price of the equity transfer is tentatively set at 137 million yuan, which will be adjusted after the amount of compensation for the transition period is determined.
After this operation, Zhangzidao's operating performance in 2020 successfully achieved a turnaround.
After entering 2021, Zhangzidao is still slimming down. For example, Zhangzidao announced on the evening of December 3, 2021, that the company's board of directors agreed to sell the relevant assets of Zhangzidao Zhuanghe Branch to Dalian Changying Marine Ranch Co., Ltd., and the transaction price of the asset sale was based on the appraisal value, and the total price was determined after full negotiation and negotiation between the two parties to the transaction, and the total price was 95 million yuan.
In this transaction alone, after preliminary calculations, zhangzidao is expected to recover 95 million yuan of liquidity and increase net profit by about 70 million yuan. In addition, Zhangzidao announced on January 4 that the company recently received a document issued by the people's government of Zhangzidao Town, Changhai County, giving the company a subsidy of 50 million yuan for the suspension of work and production in the cold chain industry affected by the new crown pneumonia epidemic in Dalian. The subsidy is in the form of cash, and as of the date of the announcement, the company has received the above subsidy funds.
At the end of 2020, the impairment of Ezo shellfish was 28.7044 million yuan
On the evening of January 20, Zhangzidao also announced at the same time that the company conducted an inventory and analysis of assets such as receivables, inventories, long-term equity investments, fixed assets, intangible assets and goodwill at the end of 2021, and made an impairment provision for related assets that may cause asset impairment losses. It is initially estimated that a total of 36.7443 million yuan of impairment provisions will be made in 2021.
It is reported that Zhangzidao has conducted an impairment test on various inventories, and according to the test results, it is expected that 33.6117 million yuan will be prepared for the decline in the price of various inventories in 2021, of which: raw materials 1.5574 million yuan, inventory commodities 3.3499 million yuan, and consumable biological assets 28.7044 million yuan.
It should be pointed out that the expendable biological assets mentioned here are the bottom-sown Ezo shellfish that make Zhangzidao "famous".
According to Zhangzidao, according to the needs of the annual review, the National Marine Environment Monitoring Center, the annual audit accounting firm and the company's personnel jointly conducted a resource survey on the bottom-sown Ezo scallops raised in the Zhangzidao area. Based on the preliminary data of the resource survey and the relevant financial data such as the carrying cost of bottom-sown Ezo scallops at the end of 2021, Zhangzidao calculates the net realizable value and impairment reserve of the bottom-sown Ezo scallops currently in stock in each year in accordance with the relevant provisions of the Accounting Standards for Business Enterprises. It has been calculated that the bottom-sown Ezo scallops that are dropped in 2020 need to be prepared for inventory decline, and the bottom-sown Ezo scallops that are put into seedlings in 2019 do not need to be prepared for inventory price decline.
This time, Zhangzidao is expected to make an impairment provision of 28.7044 million yuan for the inventory of bottom-sown Ezo scallops with a cost of 73.3924 million yuan for the 195845 mu of sea area that will be put into seedlings in 2020.
Recent stock price performance is of concern
In the secondary market, Zhangzidao's recent performance is also quite eye-catching, with the stock showing a 3-day 2-limit trend in the 3 trading days from January 14 to January 18.
On January 13, Zhangzidao said on the interactive platform that in recent years, the company has been committed to promoting the upgrading of ingredients to food, and developing and launching "Zhangzidao Taste" marine food around Zhangzidao's core marine resources. The company's products include fresh sea treasures, frozen fresh prepared foods (frozen ingredients such as fish, shrimp, crabs and clams, and prepared dishes, etc.), nutritious foods (ginseng abalone caviar, etc.), and leisure foods (marine snacks such as shellfish and shrimp). Among them, the pre-made vegetable products with the characteristics of instant food, instant cooking, instant heat, and ready to match have been successively listed with garlic vermicelli scallops, powdered fish steaks, fresh + scallops, black pepper salmon, dragon tendon Buddha jumping wall and other products.
Affected by this news, Zhangzidao took advantage of the "pre-made dish concept" to close the first recent up-and-down board.
On January 17, a "duanzi hand" posted on the Internet that the volcanic eruption in Tonga will cause a large number of Pacific scallops to cross the ocean to take refuge in the waters of Zhangzidao, and the scallops that once "ran away" are very likely to "drag the family with the mouth" and swim back.
Unexpectedly, this ridiculous news made Zhangzidao harvest the limit again on January 18. So far, the stock has shown a 3-day 2-day up-and-down trend.
On the evening of January 18, Zhangzidao issued an announcement of abnormal fluctuations in stock trading, saying that at present, the company's prefabricated vegetable revenue contributes less than 5%, and some products are still in the market development stage. In addition, the company is concerned about the recent media reports that "the eruption of the Tonga volcano and the tsunami caused by the influx of Pacific scallops into Zhangzidao this year will increase by 100%+ and related rumors, the above reports and rumors are seriously inaccurate, the company's management has not accepted any relevant interviews and replies to these issues, and the company reserves the right to protect its rights and interests through legal channels. The company has been explained in the Shenzhen Stock Exchange Interactive Exchange.
On January 19 and January 20, Zhangzidao fell sharply for two consecutive trading days, with a decline of more than 7%. As of the close of trading on January 20, Zhangzidao was trading at 3.67 yuan, down 0.28 yuan, or 7.09%.
(Editor: Peng Bo)