· This is Wang Hao's 1555th original article on Fortune
· The full text is 1600 words long and about 4 minutes to read
The stock trading loss was 1.5 billion yuan, and Yunnan Baiyao issued a statement saying that it would gradually optimize the investment structure and gradually withdraw from securities investment. I just don't know how many toothpaste needs to be sold to make up for the loss of this stock speculation.
1
The stock trading loss was 1.5 billion
On October 28, "Yunnan Baiyao Stock Speculation Lost 1.5 Billion Yuan" appeared on Weibo's hot search.
The source is Beijing Business Daily.
According to reports, yunnan Baiyao released the third quarter results announcement that the fair value change profit and loss during the holding period of trading financial assets was -1.55 billion yuan.
In layman's terms, it lost 1.5 billion yuan in the stock market.
2
Netizen reviews
As soon as the news spread, it caused heated discussion among relevant netizens.
Some people directly said that it is not responsible to speculate in stocks with profits.
Some people also think that this money should be used to do the main business.
Some people even sighed: fifteen billion losses, how much toothpaste must be sold to earn back.
In fact, the loss of Yunnan Baiyao stock speculation existed as early as the beginning of the year.
In the first quarter of 2021, Yunnan Baiyao Securities Investment lost a total of 792 million yuan.
The first half of 2021 shows that at the beginning, the book value of the stocks, funds and bonds invested by Yunnan Baiyao was more than 10.8 billion, and after the end of the first half of the year, there was more than 9.7 billion yuan left on the books, with a floating loss of 800 million.
It's just that this loss figure is far from the loss in the third quarter today.
3
Past investments
Further back, you will find that Yunnan Baiyao in 2020 has made considerable gains in the stock market.
At that time, Yunnan Baiyao's revenue was 32.743 billion yuan, while the net profit was as high as 5.516 billion yuan.
Among them, more than 47.46% of the net profit is obtained by investment income, and 2.618 billion yuan has been earned in investment markets such as the stock market.
With this confidence, Yunnan Baiyao will continue to invest in capital markets such as the stock market in 2021.
Earlier, in 2019, Yunnan Baiyao has made great strides in the capital market.
Invested 50 million US dollars to invest in Chinese antibodies.
Next, there was a move to buy shares such as Yili shares, Tencent Holdings and Xiaomi Group in 2020, which cost the company more than 10 billion yuan of funds.
In the past two years, net investment income has accounted for more than one-third of the company's total profits.
4
The decline in performance needs to be explored
Yunnan Baiyao has done this because of the performance problems of the past few years.
Since 2015, Yunnan Baiyao's revenue has begun to enter a weak stage, from 2015 can still enter double digits, to 2017 has dropped to 8.5%.
Investing is just one of its many explorations.
In addition to investment, Yunnan Baiyao is also working hard to develop new businesses.
From health equipment to daily chemical consumer goods to traditional Chinese medicine health care drugs, there are Yunnan Baiyao figures.
We also offer scalp care products and masks.
During the epidemic, Yunnan Baiyao even participated in the production of masks, and as a result, it was fined 110,000 yuan by the Yunnan Provincial Drug Supervision Bureau because of the unqualified quality twice.
5
Key people
In the process of transformation of bulls, the financial side is not the only way out, but it is undoubtedly the fastest effect.
Among them, there is an important person who cannot fail to mention.
That is Yunnan Baiyao's first natural person shareholder, Chen Fashu.
As early as nearly 20 years ago, he was awarded the title of "state-owned asset speculator" because he participated in the reform of state-owned enterprises such as Zijin Mining and Tsingtao Beer.
After the listing of Yunnan Baiyao in 2019, it also needs a person who knows how to invest to escort the company, reduce risks and enhance competitiveness.
As a result, Chen Fashu became the newly established co-chairman of Yunnan Baiyao.
It was also in this year that Yunnan Baiyao increased its stock speculation, which cannot be said to be without Chen Fashu's pusher.
6
Low R&D investment
There is a lot of money in the stock market, and very little money to invest in research and development.
Between 2017 and 2020, Yunnan Baiyao's R&D expenses accounted for less than 1% of revenue.
Huawei, the company, spent 141.893 billion yuan on research and development in 2020, and accounted for 15.9% of revenue.
Xiaomi is far from Huawei, but it is also around 4%.
This proportion of Yunnan Baiyao is obviously too low.
R&D investment is low, often involved in the stock market.
Coupled with the fines suffered before because of the unqualified quality of the mask, although there is not necessarily any necessary connection, it is difficult not to make an association with this scene, so as to get a not so wonderful conclusion.
That is, Yunnan Baiyao, a company, is generally a bit impetuous and cannot calm down to do its own products seriously.
At the beginning of the year, Yunnan Baiyao's stock price once climbed to 158 yuan per share.
However, at the lowest time, it also fell to 84 yuan per share, which is why the market is not very optimistic about his prospects.
7
The future is uncertain
When the stock market master who was once known as "Chen Feite" could not stop losing money, then perhaps Yunnan Baiyao would usher in another change.
I just don't know if this time I can still encounter such a good place like the stock market, so that the company can fight a turnaround battle.
And, over the years, the company has invested very little in research and development, and when it is time to continue to explore, is the technical reserve enough?
<h1 toutiao-origin="h1" > Wang Hao said that the fortune video number opened and clicked to watch, sneak peek! ▼</h1>
<h2 toutiao-origin="h2">
</h2>
Disclaimer: The copyright of the article belongs to the platform, welcome to forward to the circle of friends, please contact the background for reprinting.
Pay attention to Wang Hao said wealth
Share the dots of the world of wealth