On July 9th, Gelon Hui announced that Fortune Ng Fung Food (600965.SH) is expected to achieve revenue of approximately 450 million yuan in the first half of 2024. Compared with the same period last year (legally disclosed data), revenue will decrease by 121.22 million yuan, a decrease of 21.22% year-on-year. It is expected that the net income attributable to the owners of the parent company in the first half of 2024 will be about 30 million yuan, a decrease of 62.7 million yuan compared with the same period last year (legally disclosed data), a decrease of 67.64%. It is expected that the net income excluding non-recurring gains and losses attributable to the owners of the parent company in the first half of 2024 will be approximately 29 million yuan, a decrease of 69.44 million yuan compared with the same period last year (legally disclosed data), a decrease of 70.54%.
Livestock sector: Although the sales revenue in the first half of 2024 increased, the profit decreased significantly. The main reasons are: on the one hand, the cost of previously purchased live cattle was high, and now the market price of live cattle has dropped sharply; On the other hand, the breeding period of the cows sold by the company this year is 6-8 months, which has increased by about 3 months compared to the previous year, leading to higher breeding costs than last year. Food processing sector: Due to fierce market competition and loss of major customers, sales revenue has decreased, resulting in a decline in performance. Dining sector: The overall dining market environment is affected by customers' downgraded consumption and the decline in passenger flow is more obvious. The diversion of street stalls and outdoor barbecue has had a serious impact on dine-in traffic. In the first half of the year, 5 stores were closed, resulting in losses. The funeral sector: Sales revenue in the first half of 2024 decreased compared with the same period last year, due to the concentration of accumulated customers caused by external reasons in early 2023, there were more cemetery sales last year and it has basically returned to normal this year.