Sanquan Food's dumpling revenue declines for the first time in nearly four years

On the evening of April 9, Sanquan Foods released its 2018 annual report

It is worth mentioning that in February this year, Sanquan Foods was involved in the sensational "swine fever dumpling" incident

Performance growth slowed down, dumpling revenue fell 3%

According to public information, Sanquan Foods is one of the largest quick-frozen food companies in China.

According to the 2018 annual report of Sanquan Foods, during the reporting period, the company achieved operating income of 5.

The Sino-Singapore Jingwei client combed the Wind data and found that although Sanquan Foods achieved a certain growth in revenue and net profit in 2018, compared with 2017, the growth rate slowed down significantly

Not only that, the Sino-Singapore Jingwei client noticed that in terms of products, dumplings are still the mainstay of Sanquan Foods, but in 2018, its dumpling revenue declined for the first time in nearly four years

The data shows that in 2018, the revenue of Sanquan Foods dumpling products was 1.

From 2014 to 2018, the total revenue of Sanquan Foods and the revenue of dumplings

On the contrary, in 2018, Sanquan Foods and other products had the fastest growth rate, with an annual revenue of 1.

"Swine fever dumplings" incident caused net profit to decrease by 420,000

In February this year, Sanquan Foods was exposed to the fact that samples of its quick-frozen dumplings were tested positive for suspected African swine fever virus nucleic acid, which caused an uproar in the market

The Sino-Singapore Jingwei client noticed that Sanquan Foods mentioned in its reply to the Shenzhen Stock Exchange's inquiry that it is currently impossible to assess the specific impact of the "swine fever dumplings" incident on its operating performance in 2019

Sanquan Foods mentioned in its annual report that on February 16, 2019, the company learned of and received the "Notice on Cooperating with the Investigation and Handling of African Swine Fever Virus Nucleic Acid Positive Foods" by the Office of the Major Animal Disease Control Headquarters of Xiangxi Tujia and Miao Autonomous Prefecture.

Chinese food industry analyst Zhu Danpeng pointed out to the Sino-Singapore Jingwei client that the impact of the "swine fever incident" on Sanquan Foods will be difficult to eliminate in the short term

"In the short term, Sanquan Foods-related quick-frozen dumpling products will be removed from the shelves in various channels, which will have a huge impact on sales and will be accompanied by shrinking market share; in the medium term, suppliers, distributors, etc.

Food and beverage expert Chen Wei also believes that the sales and revenue of Sanquan Foods will undoubtedly be affected in the short term, and other dumpling brands such as Sinian and Wanchai Wharf will also take the opportunity to seize their market share