In the morning session on May 24, Makihara's stock price fell from 99 yuan at 9:30 a.m. to 89.77 yuan at 10:30 a.m. The decline in one hour is more than 9%.
Makihara's share price on May 24
At 13:30 in the afternoon, it directly oversold by 10%, touched the drop stop, and did not close until the close of 15:00 in the afternoon, and the decline slowly returned to 8.58%, with a stock price of 90.44 yuan.
Why? Why did Makihara's stock price plummet today? What the hell am I missing
01
Makihara is too "honest"
After watching for a morning, I came to the conclusion that Makihara was too "honest".
On May 20, Makihara held a shareholders' meeting, at which Chairman Qin Yinglin revealed that the cold winter moment of the industry was coming, and cautiously expected pig prices and the company's development speed, triggering market pessimism that led to today's stock price falling.
Here, in passing, briefly summarize the highlights of this shareholders' meeting, so that everyone can have a general understanding of the latest situation in Makihara:
1. The company cultivates new talents. Some core positions have been handed over to the post-80s and post-90s generations, allowing young people to grow. Makihara vigorously built a new slaughtering business, which was taken care of by Qin Yinglin's son, Qin Muyuan.
2. Makihara currently pays attention to two major directions: the upgrading and iteration of pig houses and the improvement of the management level of young talents.
3. Makihara proposed at the highest profit in 2020 not to blindly expand and slow down the development speed of enterprises to improve the efficiency and quality of comprehensive management.
4. Cost control. Makihara's current full cost is 8 yuan / kg, with the release of production capacity, the cost control target at the end of this year is 7 yuan / kg.
5. Since the second quarter of this year, more than 75% of Makihara's sales structure is commercial pigs, and breeding pigs and piglets account for no more than 25%, indicating that the completion of the new pig house is normal.
6. Develop carefully. The development of the company should be based on the comprehensive consideration of financial strength and cost ability, down-to-earth, and more long-term development to the downstream, such as making food, depending on the strength of the company, not blind. The leaders of the old generation of Makihara, the successors of the new generation, must control their desires, control their greed, and control their ambitions not too high.
7. Makihara's survival rate of nursery pigs in the first quarter of this year was 93%-94%, and the survival rate of fattening was 91%.
From the above content, it can be seen that Makihara's fundamentals have not deteriorated, and many investors in the market are also more buying of it.
02
Peer costs are Makihara profits
In fact, on May 12, the Snowball Research Group went to Makihara headquarters to conduct a survey, after all, the biggest negative news of Makihara this year - financial fraud originally came from a big V's long article of Snowball.
After the survey, most of the members of the survey commented well on Makihara, quoting a passage from Snowball's latest post:
Makihara should choose more responsible media and platforms to announce some general issues about the company's operation to the market at regular times. For example, although I own Makihara shares, I only learned in Makihara's reply letter that he had sold so many piglets to his peers.
"The cost of peers is the profit of Makihara", many people rely on "common sense", questioning that Makihara's data is much better than their peers, thinking that this is abnormal, but if they know how the pigs of their peers are raised, they will not always ask these common sense questions?
If Makihara could announce how many breeds of pigs and how many piglets were sold to his peers every month, many people would naturally criticize it much less.
One of the experts involved in the survey used a very vivid metaphor to explain Makihara's current situation:
Makihara has recently been flashed – because of his long-term test results, he has been questioned by his classmates and parents about cheating on the test.
So, with the latest April results, let's take a look at the "results" of this good student.
03
Mr. Makihara pk Wen, Masakuni ...
Compare the "true knowledge", here, simply pull out the pig enterprises such as Makihara, Wen's, Zhengbang, and New Hope together.
In April, Makihara produced 3.145 million pigs, breaking the record of the highest single-month output of pig enterprises in one fell swoop, and the sum of the five pig enterprises in April of New Hope, Zhengbang, Wen's, Aonong and Dabeinong - 3.1464 million heads, which was basically the same.
Zhengbang ranked second with 1,184,400 heads in April, while New Hope ranked third with 837,900 heads. It is worth mentioning that Tianbang's sales volume in April was 202,800 heads, down 39.05% month-on-month and 129,900 heads month-on-month, a larger decline.
Tianbang issued an announcement saying that the main reason is that the company's sales of weaned piglets in October-November 2020 are higher, and there are fewer fattening seedlings, resulting in a decrease in the number of fat pigs produced by the company this month, while the company has reduced piglet sales this month.
In addition to single-month sales, let's look at cumulative monthly sales.
The cumulative sales of Makihara's pigs from January to April reached 10.865 million heads, exceeding the sum of Zhengbang (3.763 million heads), New Hope (3.1215 million heads) and Wen's (2.7196 million heads). Among them, Wen's cumulative output decreased by 12.74% year-on-year.
In the April 27 investor relations activity record table, Wen's gave a "preventive shot" to the decline in pig production in April. The announcement said: According to the company's early seedling and target planning, the number of columns in April may still be low. It is expected that from May onwards, the number of columns will increase month by month, and the number of columns will increase significantly in the second half of the year.
Expecting an outbreak in the second half of the year, it is far more than Wen's, but also Zhengbang and New Hope.
Zhengbang's current output has only reached 15.1% of the annual plan of 25 million heads, while New Hope has only reached 12.5% of the annual plan of 25 million heads.
If you want to complete the goal, you can't fight in the second half of the year!
In contrast, Makihara plans to release 36-45 million heads this year, and has completed nearly 30% of the target of 36 million heads.
The name of "good student" is not vain, so how do you think about Makihara now?
Source Makihara public number