“Bread first stock” fell for five consecutive days

At the opening of trading on July 29, peach and plum bread opened low and went low. As of the noon closing, the share price fell 1.07% to 27.63 yuan / share, and the latest total market value was 26.31 billion yuan.

K-line chart data show that from July 23 to the morning of July 29, the share price of peach and plum bread has fallen for five consecutive trading days, with a cumulative decline of 5.38%. If the time dimension is extended, the cumulative decline in the share price of peach and plum bread has reached 33% in 2021, and the total market value has evaporated by about 13.6 billion yuan.

Public information shows that Taoli bread was established in 1997. It is an enterprise focusing on the production and sales of baking products with bread and pastries as the core. The main product is “Taoli” brand bread. It was listed on Shanghai Stock Exchange in December 2015.

There may be two reasons for the sharp decline in the share price of peach and plum bread:

On the one hand, the impact of performance decline. Behind the rise in share prices depends on performance support. Since this year, the performance of peach and plum bread has shown negative growth, which has a negative impact on the stock price.

On July 19, Taoli bread released the interim performance express for 2021, which showed that in the first half of the year, the operating revenue was 2.939 billion yuan, a year-on-year increase of 7.32%; The net profit attributable to shareholders of listed companies was 369 million yuan, a year-on-year decrease of 11.57%.

Taoli bread said that the main reason for the decline in performance was that the costs in the first half of 2021 were higher than those in the same period of 2020. At the same time, the return rate and discount rate in the first half of 2021 were higher than those in the same period of 2020.

Not only did the performance decline in the first half of the year, but also peach and plum bread showed a decline in the previous quarter. According to the first quarterly report of 2021 released by Taoli bread, the net profit in the first quarter was 163 million yuan, a year-on-year decrease of 16.27%.

On the other hand, since this year, the overall performance of the food processing industry has been relatively low, especially in the past two months. Tonghuashun food processing and manufacturing industry index shows that from June 1 to the morning of July 29, the cumulative decline of the index has reached 16.84%.

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