业绩大幅下滑原因何在？金健米业这样回复上交所

Core Viewpoint - Jin Jian Rice Industry Co., Ltd. reported a significant decline in performance due to asset restructuring and adjustments in business operations, while the high gross margin in the dairy business is attributed to changes in product sales structure and a decrease in raw material prices [1][2][3]. Group 1: Performance Decline - The company achieved a revenue of 4.627 billion yuan in 2024, a year-on-year decrease of 12.19%, and a net profit attributable to shareholders of 2.23 million yuan, down 83.94% [2]. - The net profit for 2024 was 2.5153 million yuan, a decrease of 81.34% compared to 2023, primarily due to a decline in profits from the agricultural product trading segment [3][4]. - The company simulated financial data indicating that if the asset swap had been completed at the beginning of 2023, the revenue for 2024 would have been 3.196 billion yuan, a decrease of 2.09%, and the net profit would have been 3.838 million yuan, an increase of 23.75% [3]. Group 2: Asset Restructuring - In November 2024, the company announced an asset swap with its controlling shareholder, Hunan Grain Group, involving the exchange of three feed trading companies for stakes in food processing and research entities [4][5]. - The asset swap aims to enhance the company's procurement bargaining power and resolve competition issues in the food processing and feed trading sectors [5]. Group 3: Dairy Business Performance - The dairy segment reported revenue of 96.62 million yuan in 2024, a year-on-year decline of 15.21%, but the gross margin increased by 6.85 percentage points to 36.04%, which is relatively high compared to peers [6][7]. - The decline in dairy revenue was attributed to a weak consumption environment and increased competition, leading to a drop in sales from traditional channels [6][7]. - The increase in gross margin was due to lower raw material prices and improved sales structure, with high-margin products' revenue share rising from 27.12% in 2023 to 54.38% in 2024 [7].