After the poor performance in the second quarter, the performance of the "degradable leading stock" Kingfa Technology in the third quarter continued to decline year-on-year.
On the evening of October 25, Kingfa Technology (600143) disclosed the performance report of the first three quarters of 2021, in the first three quarters of this year, Kingfa Technology achieved a total revenue of 29.59 billion yuan, an increase of 12.95% year-on-year; the net profit attributable to the mother was 1.73 billion yuan, down 54.38% year-on-year.
Looking at the third quarter alone, Kingfa Technology achieved revenue of 1.03 billion yuan, an increase of 11.18% year-on-year, which was about the same as that of the second quarter of this year; the net profit attributable to the mother was 150 million yuan, down 89.16% year-on-year and 78.5% lower than the second quarter of this year.
In terms of shareholder changes, Central Huijin Company has withdrawn from the ranks of the top ten shareholders; during the shareholding period of Hong Kong Stock Connect, it reduced its holdings by 25.097 million shares, and the shareholding ratio fell by 0.98% to 1.82%; Niu Sanxia Shiyong continued to reduce its holdings by 5.098 million shares in the third quarter after reducing its holdings by more than 50 million shares in the first quarter of the first half of the year, with a current shareholding ratio of 1.76%. Zhang Yuanjie, a natural person shareholder, became the top ten shareholders, with a shareholding ratio of 0.96%.
In the early trading of October 26, Kingfa Technology opened down to a stop, the morning session was slightly pulled up, to the afternoon close, Kingfa Technology finally closed the stop board, the daily newspaper 12.26 yuan / share, corresponding to the market value of 31.6 billion yuan.
Behind the performance plunge:
The performance of the medical sector plummeted, and it was difficult to promote the degradable business
Kingfa Technology attributed the decline in third-quarter performance to a sharp decline in profits in the company's medical sector in its earnings report.
The explanation given in the third quarterly report: Affected by the epidemic in 2020, the company's development of meltblown materials, meltblown cloth, masks and other epidemic prevention-related products sales results are excellent, which has a significant impact on the company's profits in the first three quarters of 2020, with the new coronavirus epidemic gradually controlled in many countries, and the market has new production capacity, the price of epidemic prevention-related products returned to rationality, resulting in a sharp decline in profits in the first three quarters of 2021.
Shell Finance noted that the sharp decline in profits of epidemic prevention products is a key word that runs through Kingfa Technology's annual performance.
In the first half of this year, the company's medical and health products achieved operating income of 860 million yuan, down 47.2% year-on-year; achieved gross profit of 310 million yuan, compared with 1.35 billion yuan in the same period last year, down 77% year-on-year. Shell Finance noted that in the three quarterly reports, this part of the data was not disclosed.
In addition to medical products, Kingfa Technology was "pinned high hopes" by investors on another major business, the degradable business, which also performed less than expected.
In the financial report, fully biodegradable plastics and special engineering plastics, carbon fibers and composite materials were included in the company's new material products segment. Compared with the second quarter, it was found that the production and sales rate of this sector decreased significantly. The company's new material product output totaled 37,900 tons, sales volume was only 23,200 tons, and the production and marketing rate was only 61.2%. In the second quarter, the production and sales rate of the sector was 114.5%.
Specific to the degradable business segment, the company's sales of fully biodegradable plastics in the third quarter were 17,500 tons, an increase of only 0.01 million tons from 17,400 tons in the second quarter. This figure is significantly lower than in the first quarter. In the first quarter of this year, Kingfa Technology sold 26,700 tons of fully biodegradable plastics. According to calculations, its third-quarter biodegradable plastic sales figures fell 34.5% from the first quarter. The lack of market demand in the company's degradable business did not materially improve from the second quarter.
The stock price has been cut from the highest point
Niu Shan He Xueping and Central Huijin have withdrawn from the top ten shareholders
Benefiting from the early stage of the "new crown" outbreak, Kingfa Technology's rapid investment in medical protective equipment brought about excellent performance, superimposed on the benefits brought by the promotion of "degradable" policies. Kingfa Technology's stock price has soared since 2020.
Wind data statistics show that at the beginning of 2020, kingfa technology's stock price was 7.03 yuan / share (before the restoration, the same below), and by the end of 2020, its stock price was 16.67 yuan / share, soaring 137.22%.
However, when the performance did not meet the "market expectations", Kingfa Technology's stock price quickly fell all the way. At present, the share price of Kingfa Technology is only 12.26 yuan / share, which is 57.31% lower than the highest point of 31.9 yuan / share reached in February this year.
During this period, some star shareholders rushed to run in advance. At the beginning of 2021, the top ten shareholders of the company include institutional shareholders Hong Kong Securities Clearing Company Limited (Hong Kong Stock Connect), Central Huijin Asset Management Co., Ltd., as well as the famous Niu Shan Xia Shiyong and He Xueping. However, by the end of the third quarter, Central Huijin Asset Management Co., Ltd. and He Xueping had withdrawn from the list of the top ten shareholders.
According to the first quarter of this year, the list of the top ten shareholders of the company to reduce their holdings includes: three natural person shareholders, Song Ziming, Xia Shiyong and He Xueping, who reduced their holdings by 11.649 million shares, 5.283 million shares and 5.9 million shares respectively during the period, and the shareholding ratio at the end of the period was 2.3%, 1.96% and 1.2% respectively.
In the second quarter, institutional shareholders Hong Kong Securities Clearing Company Limited (Hong Kong Stock Connect) and Central Huijin Asset Management Co., Ltd. reduced their holdings by 19.736 million shares and 14.011 million shares respectively, and their shareholding ratios fell to 2.8% and 1.65%. Natural person shareholder Xia Shiyong reduced his holdings by 459,000 shares, maintaining a shareholding ratio of 1.96% at the end of the period, and He Xueping withdrew from the ranks of the top ten shareholders.
In the third quarter, Hong Kong Stock Connect continued to reduce its holdings by 25.097 million shares, a decrease of 0.98% to 1.82%; the well-known niusan Xia Shiyong continued to reduce its holdings by 5.098 million shares, and the shareholding ratio fell to 1.76%. Central Huijin Company withdrew from the ranks of the top ten shareholders.
Beijing News Shell Finance Peng Shuo Editor Sun Wenxuan Proofreader Lu Qian