The Ministry of Grain and Engineering (301058) issued a notice on December 31, 2021, saying: Guotai Junan Hua Jianyi will investigate our company on December 28, 2021.
The main contents of this survey are as follows:Q: what is the market prospect of the grain and oil sector business where the company is located at present?
A: the State Grain and material Reserve Bureau announced in November that the "six major upgrading actions" of the high-quality grain project will be implemented during the 14th five-year Plan period. by 2025, the high-standard granary capacity will be increased by 20 million tons, and the increase of high-quality grain will increase by more than 10% a year. In recent years, the state has paid more and more attention to food safety and food security, and the "14th five-year Plan" high-quality grain project has put forward "six major promotion actions" from the aspects of grain green warehousing, grain variety quality brand, grain quality traceability, grain machinery and equipment, grain emergency security capacity, grain saving and reducing healthy consumption, etc. The industry policy plans a broad development prospect for our downstream grain and oil storage and processing industry. On the one hand, under the guidance of policies, various localities continue to build and expand production capacity, improve grain storage capacity, ensure food security, and provide market incremental space for the development of the industry; on the other hand, driven by excellent production and superior grain storage, grain and oil warehousing is developing in the direction of standardization, refinement, intelligence and high-end, and there are a large number of demand for technological upgrading of storage capacity. In addition, the state vigorously promotes and applies grain and oil processing equipment, grain cleaning and drying equipment, grain warehousing and logistics machinery, and grain testing instruments with independent intellectual property rights and core technology, promote the deep integration of grain machinery and equipment manufacturing technology with digital and intelligent technology, promote the transformation and upgrading of grain machinery and equipment industry, and provide a broad market space for the development of the industry. As a comprehensive technical service provider and equipment manufacturer in the domestic agricultural grain, food and cold chain logistics industry, our company mainly serves the fields of rice, wheat, oil, feed, corn and grain logistics storage and the cold chain logistics of agricultural products. With first-class professional and integrated comprehensive service capabilities, the company will take this opportunity and rely on the existing professional and technical service experience to gather the main industry. Serve well the strategic goal of the country's "14th five-year Plan" high-quality grain project.
Q: the company has relatively high and comprehensive qualifications in the industry. can you introduce the specific situation?
A: our company has a full range of high-grade business qualifications in the grain and oil processing industry, such as the whole grain industry (Class A), engineering design (Class A), mechanical and electrical installation engineering (Class A), equipment supervision (Class B), engineering supervision (Class A), pressure vessels and other business qualifications, our company can undertake grain and oil and cold chain industries (wheat, rice, oil, corn and feed processing industry, grain logistics industry. Agricultural products storage industry, cold chain warehousing and logistics and other industries), engineering design consulting, engineering contracting, mechanical and electrical engineering system delivery and complete sets of equipment manufacturing and other businesses, with strong integrated service capabilities and competitive advantages, to build a solid foundation for the company's business development. The relevant qualification certificates obtained by the company are disclosed in detail in the prospectus.
Q: some litigation matters were disclosed in the company's prospectus before. what is the impact on the future operation of the company?
A: the matters involved in the prospectus will not have a significant impact on our company. The current outstanding lawsuits are all projects undertaken by the company before the reporting period, and the specific circumstances of the relevant disputes and accounting treatment have been disclosed in detail in the prospectus, and we have fully anticipated the relevant risks. the accounting treatment is carried out for the final litigation and capital freeze, which accurately reflects the impact of litigation on the company's operating performance. The company is also taking positive measures to deal with the lawsuit. In the follow-up, we will continue to strengthen internal management, standardize the contract review process, and guard against legal risks in litigation.
Cofco Engineering main business: mainly divided into design consulting, mechanical and electrical engineering system delivery and project contracting and other professional engineering services business plate and equipment manufacturing business plate. Among them, the design consulting, mechanical and electrical engineering system delivery and project contracting business plate covers professional engineering service projects in the field of grain, oil and cold chain, while the company also undertakes some civil architecture design business and ice and snow engineering projects extended in the cold chain field. the equipment manufacturing business plate includes the manufacture of grain and oil processing equipment, such as grinder, high square screen, drying equipment, oil pressing equipment and so on.
The third quarterly report of Cofco Engineering 2021 showed that the company's main income was 1.126 billion yuan, down 2.42% from the same period last year; the net profit was 74.523 million yuan, up 90.85% from the same period last year; and the non-net profit was 68.9385 million yuan, up 112.77% from the same period last year. Among them, in the third quarter of 2021, the company's main income in a single quarter was 416 million yuan, up 40.28% from the same period last year; and the net profit in a single quarter was 22.696 million yuan, up 1138.99% from the same period last year. The non-net profit in a single quarter was 22.6456 million yuan, up 684.21% from the same period last year; the debt ratio was 44.88%, the investment income was 487700 yuan, the financial expenses were-9.2403 million yuan, and the gross profit margin was 22.92%.
In the last 90 days, a total of one agency gave a rating and one bought a rating; in the past three months, the net inflow of financing increased by 83.9511 million, while the balance of margin financing increased by 152000. According to the Securities Star valuation analysis tool, Cofco Engineering (301058) has a rating of 3.5 stars, a good price rating of 1 star, and a comprehensive valuation rating of 2 stars. (rating range: 1-5 stars, up to 5 stars)