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China Galaxy Securities: Central SOE Leads Agricultural Seed Industry, Continues to Write a New Chapter of High-Quality Mergers and Acquisitions in the Seed Industry.
The market cap and revenue scale of the seed industry central enterprises are much higher than those of local state-owned enterprises and non-central state-owned enterprises. In Q1-3 of 2024, four central enterprises in the seed industry were affected by the decline in grain prices, intense industry competition, off-season sales, etc., resulting in varying degrees of losses or declines in performance. However, judging from the forward-looking indicator of Q3 end contract liabilities, the performance of the 24/25 sales season is well supported.
Express News | The concept of grain plate is active at the beginning, nanfang black sesame group has five consecutive limit up.
Yuan Longping High-Tech Agriculture (Stock Code: 000998) third quarter report for 2024: Decline in overseas business, increase in exchange losses, short-term profit pressure.
Overseas business declined, exchange losses increased, short-term pressure on profitability. The company achieved revenue of 2.881 billion yuan in the first three quarters of 2024, a year-on-year decrease of -14.46%, mainly due to increased competition in the domestic and overseas corn industry markets and grain prices.
Yuan Long Ping High-Tech Agriculture Co., Ltd. Just Reported A Surprise Loss: Here's What Analysts Think Will Happen Next
Yuan Longping High-Tech Agriculture (000998): Domestic corn and rice are growing against the trend, while overseas business is dragging down performance.
The company announced its 3Q24 performance, which was lower than our expectations. Considering the impact of Longping Brazil consolidation, the revenue decreased by 60.3% year-on-year to 0.3 billion yuan, achieving a non-net income of -0.62 billion yuan, an increased loss of 0.27 billion yuan.
Corn seed industry competition intensifies, yuan longping high-tech agriculture Q3 net loss expands by 40% year-on-year | Interpretations
①Yuan Longping High-Tech Agriculture achieved revenue of 0.299 billion yuan in Q3, a decrease of 60.27% year-on-year, with a net loss of 0.587 billion yuan, an increase of 40.49% year-on-year; ②Intensified competition in the corn seed industry is the main factor contributing to the company's revenue decline; ③As of the end of the third quarter, the company's contractual liabilities amounted to 3.87 billion yuan, an increase of 14.8% year-on-year.
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