Hongxing Capital Bureau May 8th news, yesterday, Garga Food (Securities abbreviated “ST Jiajia”, 002650.SZ) issued an announcement saying that due to major defects in the internal control and inventory management of related parties, China Securities Supervision was received.The Hunan Regulatory Bureau (hereinafter referred to as the “Hunan Securities Regulatory Bureau”) issued by the Management Commission (hereinafter referred to as the “Hunan Securities Regulatory Bureau”) “Regulatory concerns about the relevant matters of the Canadian Food Group Co., Ltd.” (hereinafter referred to as the “Supervision Concern Letter”).
It is understood that Garga Food and Subsida Garga Food (Ningxia) Biotechnology Co., Ltd. entrusted affiliated parties Ningxia Coco Biological Engineering Co., Ltd. (hereinafter referred to as “Ningxia Coco”) and Ningxia Yumi Starch Co., Ltd.Yumi “) processed MSG to form a processing loss of 511.804 million yuan. Whether there is a major uncertainty of whether the loss can be recovered.
On the same day, the Shenzhen Stock Exchange issued an inquiry letter to the Food of Food.In addition to many defects in internal control, problems such as the decline in food performance decline year and decline in gross profit margin have also been watched by the Shenzhen Stock Exchange.
01
Jiajia Food Internal Control Multi -defect
Internal control audit report issued by negative opinions
According to Garga Food, in 2023, Garga Food and Subsida Garga Food (Ningxia) Biotechnology Co., Ltd. entrusted the affiliated parties Ningxia Coco and Ningxia Yumi to process MSG, and signed the “MSG Processing Agreement”.The raw materials, auxiliary materials and packaging materials required for production, the amount of raw materials, accessories and packaging materials (for standard tons) per ton of MSG, the actual tonnage consumption of the standard ton is borne by the agency processing unit.
After calculation, the high -standard raw materials, auxiliary materials, etc. in 2023 were 511.804 million yuan. According to the agreement, the losses should be borne by the pro -processing party, but both Ningxia and Ningxia Yumi have not replaced their debts. At presentDiscontinued, so whether the loss can be recovered with uncertainty.
Garga Food said that there are major defects in the internal control and inventory management of related parties.
On May 7, the Hunan Securities Regulatory Bureau issued a letter of concern to the Galian Food, requiring Jiajia Food Controller and related parties to explain the specific repayment plan and other related situations, and the details, terms and corporate inventory signed the agreement and the company’s inventory signed the agreement.Explanation of inventory and other situations.
On the same day, the Shenzhen Stock Exchange issued an inquiry letter from the 2023 annual report to Jiajia Food, which also mentioned the matter and asked them to explain the solution of MSG products/business after the production of Ningxia Coco and Ningxia Yumi was discontinued.Measures and future development plans, whether related businesses can continue to carry out normal development.
The Red Star Capital Bureau noticed that in addition to the invalidation of the related party transactions in 2023, Gaga Foods also had defects in the management and investment management of subsidiaries.
According to Garga Food disclosure, the company’s Hunan Puhe and Evergreen Private Equity Fund Partnership (Limited Partnership), which holds 99.01%of Hunan Pu and Evergreen Private Equity Fund, intends to invest in equity investmentThe intention of the intention total was 39 million yuan, and the equity investment transaction was not reached in the end, but the intention gold and interest were not recovered within the validity period of the agreement.
In addition, Garga Food Subsida Garga (Beijing) Digital Technology Co., Ltd. (hereinafter referred to as “Beijing Digital”) has stopped operating in 2023. The personnel have left the job. The company failed to manage the business contract of Beijing digital.In the case of the lawsuit, the company had a defect in the internal control of subsidiaries.
The China Audit China Accounting Firm issued a audit report of negative opinions on Gaga Food in 2023.On April 29, Garga Food announced that the company’s stock was implemented by other risk warnings, and the stock abbreviation will be changed to “ST Jiajia”.
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Three consecutive revenue, three years in a row for three years
The situation in 2024 is more complicated
In the past three years, Garga Food’s performance is hard to speak.
In 2023, Canada Food revenue was 1.454 billion yuan, a year -on -year decrease of 13.78%, which is the third consecutive year of Canadian food revenue.The net profit of his mother also lost 145.48%year -on -year in 2021; in 2022, it rose 0.66%year -on -year, and the losses narrowed; the losses in 2023 increased again, a year -on -year decrease of 140.60%, and a net loss of 191 million yuan.
Figure Figure Jiajia Food 2023 Annual Report
Regarding the decline in performance, Jiajia Food stated that in 2023, the company was affected by the changes in the market environment. The company’s main product sales decreased, and the sales prices were sluggish, which led to the decline in performance during the reporting period of the company.
It is worth noting that the strategic point of Garga Food has fallen in a series of products such as “zero addition” and “zero salt zero add” in the past two years.It said in the 2022 and 2023 annual reports that promoting the operation of large items such as “salt reduction soy sauce”, “original brewing” and “fresh noodles”, increased the marketing of multiple soy sauce categories, and accelerated vinegar, oyster sauce, cooking wine, chicken essence, etc.The market is developing and promoted the research and development and market layout of composite seasoning, cold juice, sauce, soup, and high chicken essence.
However, the revenue of soy sauce, vinegar, and chicken essence products in 2023 have declined to varying degrees.On the contrary, MSG products that are not mentioned, with a growth of 174.09%in revenue.
The main foundry MSG MSG, Ningxia, and Ningxia Jade Milk due to environmental protection problems, and brought uncertain factors to the development of MSG business.
The Red Star Capital Bureau noticed that in 2023, the contribution income of Food MSG products was 178 million yuan, accounting for 12.27%.Ningxia Coco and Ningxia Yumi entrusted processing products accounted for 88.64%of the output of similar products.
For the development plan in 2024, Garga Food used almost the same discourse as the development plan in 2023: insisting on focusing on the main business, accelerating market transformation, stabilizing the stock market, and opening an incremental space … But from the performance of 2023,This plan needs to be advanced.
Nowadays, the internal control of major defects and the discontinued foods that have been discontinued by the main foundry of ST and MSG again are facing a more complicated situation than 2023.
The Red Star Capital Bureau called and interviewed the interview with Food: Why can MSG business achieve a growth of 174.09%; whether the suspension of the production of Ningxia Coco and Ningxia jade honey will affect the company’s monosodium glutamate business and how much influence is; revenue has declined for three consecutive years in a row consecutive years.The main reasons are related to the internal management of the company; how to achieve the rise in revenue and net profit in the future, as of press time, the other party has not answered the phone or replied.
Red Star News reporter Zhang Luxi Yu Yao
Edit Deng Lingyao
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