Plum Group profits fall 30% MSG overcapacity under pressure

MSG enterprises recently released the 2013 results once again show that the MSG industry is in a downward channelJbL
Meihua Group (600873.SH) reported on Friday that its 2013 annual report showed that the company achieved operating income of 7.78 billion yuan in 2013, up 4.16 percent year-on-year, while net profit attributable to shareholders of listed companies was 404 million yuan, down 33.58 percent from a year earlierAmong them, MSG and glutamate business realized operating income of 3.64 billion yuan, down 8.02% YoY, while gross margin decreased by 3.39 percentage points over the same period last yearJbL
Shi Liang, chief analyst of Citic Securities' agriculture, forestry, animal husbandry and fishing industry, told First Financial Daily, "Exports have also fallen in recent years because prices are too high." MSG's raw material is corn, China's corn prices than the international price is 50% to 60%, plus land costs are higher than foreign countries, the overall cost is higher, pricing is therefore high, it lost the advantage of exportsThe amino acid business of theJbLPlum Group suffered a setback in 2013During the reporting period, the overall aquaculture situation is depressed, the demand for amino acids is declining, most amino acid products in the premise of high cost, product prices into a historic lowJbL
Shi Liang told reporters, "Plum team is still relatively good, but the industrial cycle is not good." Their team tried to do what they wanted to do betterA few years ago, first optimize the industrial chain, the corn starch link to do more fine, and then the development of large and small varieties of amino acids, and now to the field of biomedicine developmentBut the MSG industry is a heavy asset, unlike the light asset industry, said that change can be changed Heavy asset transformation is not easy and takes time to digest "
JbL in order to expand its business, Meihua Group in January this year and Tibet Yiyuan Industrial Co., Ltd reached a framework agreement to invest in the acquisition of Yiyuan Industrial holding stake in Dalian Hanxin Biopharmaceutical Co., Ltd 100% The acquisition is the company's first real move into biopharmaceuticals JbL MSG Recently released the 2013 results once again show that the MSG industry is in a downward channel JbL
　　Meihua Group (600873.SH) reported on Friday that its 2013 annual report showed that the company achieved operating income of 7.78 billion yuan in 2013, up 4.16 percent year-on-year, while net profit attributable to shareholders of listed companies was 404 million yuan, down 33.58 percent from a year earlier Among them, MSG and glutamate business realized operating income of 3.64 billion yuan, down 8.02% YoY, while gross margin decreased by 3.39 percentage points over the same period last year JbL
　　Shi Liang, chief analyst of Citic Securities' agriculture, forestry, animal husbandry and fishing industry, told First Financial Daily, "Exports have also fallen in recent years because prices are too high." MSG's raw material is corn, China's corn prices than the international price is 50% to 60%, plus land costs are higher than foreign countries, the overall cost is higher, pricing is therefore high, it lost the advantage of exports The amino acid business of the JbL Plum Group suffered a setback in 2013 During the reporting period, the overall aquaculture situation is depressed, the demand for amino acids is declining, most amino acid products in the premise of high cost, product prices into a historic low JbL
　　Shi Liang told reporters, "Plum team is still relatively good, but the industrial cycle is not good." Their team tried to do what they wanted to do better A few years ago, first optimize the industrial chain, the corn starch link to do more fine, and then the development of large and small varieties of amino acids, and now to the field of biomedicine development But the MSG industry is a heavy asset, unlike the light asset industry, said that change can be changed Heavy asset transformation is not easy and takes time to digest "
JbL in order to expand its business, Meihua Group in January this year and Tibet Yiyuan Industrial Co., Ltd reached a framework agreement to invest in the acquisition of Yiyuan Industrial holding stake in Dalian Hanxin Biopharmaceutical Co., Ltd 100% The acquisition is the company's first real move into biopharmaceuticals JbL
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