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China Stock Listed Food Companies Report, 2006-2007

Published: Aug/2007

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Report Code: FY016 Enterprisewide  USD $ 2,250
 

In Jan-Dec 2006, China's food industry achieved gross output value of RMB 475.106 billion, up by 25.74% year on year, and realized profits of RMB 26.855 billion, up by RMB 5.835 billion over the same period of last year.

Achievements of 8 Listed Enterprises in Food Processing Industry, 2006


Achievements of 7 Listed Enterprises in Food Manufacturing Industry, 2006


By the end of Dec 2006, the amount of large-scaled enterprises in food manufacturing industry had reached 5864, increasing by 436 over the end of 2005; the accumulated profits was RMB 26.855 billion, up by RMB 5.835 billion; loss-making enterprises totaled up to 1020, whose proportion was 17.39%, down by 2.4% over the same period of last year.

In 2006, the sales income, sales cost and sales expense of food manufacturing industry was RMB 457.068 billion, 363.852 billion and 40.566 billion respectively, increasing by 25.46%, 26.57% and 15.09% over the same period last year. The total profit reached RMB 26.855 billion, seeing the year on year growth of RMB 5.835 billion; the accumulated tax was RMB 18.471 billion, growing by 21.66% over the same period of last year.

However, food manufacturing industry is facing the cost-hiking pressure, so the food price ascended. In 2006, the consumer price index rose by 1.5%, yet the growth rate of food price was higher, reaching 2.3%; the grain price grew by 2.7%, and the price hike mainly appeared in H2 2006, presenting a rising growth rate. In addition, the food safety problems remained severe.

 Source: Bureau of Statistics of China

In 2007, the food price will be on a remarkable rise. The grain price has maintained the growth rate of 7% for several months; and influenced by cost price hike, the food price will continue the rising momentum. However, on one hand, the continuous "food distribution" has taken initial effect, so the grain price in main producing regions tends to become stable; on the other hand, thanks to the anti-inflation monetary policies such as increasing the interest time after time, the price growth can be expected to be stabilized.

In 2007, the sub-industries of food industry will present the following trends:

Feedstuff industry: stockbreeding industry will enter the recovering growth period, which will boost the rapid growth of feedstuff industry. Despite the furious competition of feedstuff industry and the cost hike in raw materials, the growth rate of total profits of feedstuff industry has been always growing month by month, so it's estimated that the feedstuff industry will also keep a rapid growth in 2007.

Meat industry: since Jul 2006, the purchase price of live pig and the pork price both rebounded. Up to May 2007, the live pig purchase price and pork price had increased by 62.29% and 40.51% respectively. The live pig purchase price grows faster than pork price, so the cost pressure becomes larger, which will have certain impact on meat product processing companies such as Shuanghui Group.

Diary industry: the total profit growth rate of diary industry has been rapidly declining since Jul 2006, and this momentum continued in Jan-Feb 2007 (down to 5.44%); it's estimated that the diary industry will enter the adjustment period. 

Sugar industry: in the sugar grinding season of 2006 and 2007, both domestic and foreign sugar outputs increased a lot; under huge pressure, international and domestic sugar prices will maintain the declining momentum, hence in 2007, the sugar manufacturing industry will be less promising compared to 2006.

This report makes a research on overall comparison, performance, operation and investment of 24 listed companies in China's food industry, and provides elaborate analysis on main business structure and latest market development trend.


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