Dong'e Ejiao's sales decline in January decreased by approximately 35% in the first half of the year

Business agency August 16 hearing on the 16th, there is "medicine in Maotai," said the East E-Jiao (000423) disclosed the 2011 mid-year report. Although the price hike in the first half prompted the company to make a net profit of 456 million yuan, the gross profit margin increased by 2.15 percentage points year-on-year to 71.90%, but its product sales also fell significantly. In addition, Dong'e Ejiao, which is well-to-do, will invest 9 billion yuan in investment banking wealth management products.

According to the report, Dongjia Ejiao achieved a net profit of 456 million yuan attributable to the shareholders of the listed company in the first half of the year, an increase of 46.57% year-on-year. Although the company did not clearly indicate the reasons for the increase in performance, people in the industry generally believe that growth is due to price increase. He Pingge, a pharmaceutical and biological industry analyst at Guosen Securities, pointed out that Donga Ejiao raised the ex-factory price of Ejiao for 60% in January. If the price increase is implemented smoothly, the average sales price in the first half of the year will increase by 85.5%. According to the current performance, the sales volume of Ejiao blocks dropped by approximately 35% in the first half of the year, and it is expected that the impact of substantial price increases on sales volume will be fully absorbed within the next two years.

In addition, yesterday the company also announced that it intends to use its own funds of 900 million investment bank wealth management products, the investment period is one year, the expected rate of return is 6.5%. Among them, 500 million yuan to buy Agricultural Bank of China "Ben Lifeng" Renminbi trust wealth management products. According to the company's mid-year report, the balance of cash and cash equivalents in the Dong'e E-Jiao Consolidated Cash Flow Statement was approximately RMB 1.7 billion, and its previous investment income was also significant. During the reporting period, investment income was RMB 28.88 million.

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