Three "swallowing" the truth of the first three huge loss of dreams dashed Sanlu - Three,

Three "swallowing" the truth of the first three huge loss of dreams dashed Sanlu - Three

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Sanlu swallowing, indigestion? Recently, ternary shares issued in 2009 annual reports of the huge loss of 110 million yuan annual operating profit, down as much as 509 percent. According to the report said, a loss is mainly due to the original acquisition of Sanlu Group, which formed part of the assets of Hebei 138 million loss due to triple over the same period.

The truth is it? Netease Three Financial combed listed shares since 2003, the annual report is not difficult to find ternary shares main business is losing money year round, why not withdraw from the market, actually depends on its own Beijing McDonald's 50% of the equity investment income arising.

"Did not acquire Sanlu, ternary still a loss, but the problem is more with less," a financial industry on the NetEase said.

Beijing Sanyuan shares accounted for 80% of peak Milk Market, its parent company, Group Three with 50 years of history from the Beijing Municipal Bureau of Reclamation, Sanyuan Group inherited from the planned economy era, the production of large and comprehensive model, its not only Dairy , There are species, aquaculture, oil companies, taxi companies, real estate and even the hotel industry, and holds a Beijing McDonald's 50% stake.

2008 Melamine Incident, at the peak of the ternary shares the reputation that "Three of the top three to enter the Chinese dairy industry," the goal, but now, three giants Mengniu Dairy, Erie , A bright 09 annual profit, as the only profitable dairy products in 2008 triple shares of listed companies has once again fallen into a loss, while operating income from the point of view, triple share less than one-tenth of Mengniu and Yili, less than one-third of the light.

The burden of Sanlu 2007 melamine incident, the main business of eating only 11 million, triple Sanlu, when analysts had worried that ternary "She Tunxiang" will indigestion.

Chinese Dairy Sanlu Group was one of the Big Three, 2007 Sell Income of 10.3 billion, turnover after Yili and Mengniu, milk production is ranked first in the country, operating income is ten times the ternary. Three shares

annual report in 2009 that the loss of 110 million is mainly due to the completion of the original ternary Hebei Sanlu Group, part of the assets, auctions, integration, the greater the market input. NetEase Finance

learned from Hebei triple in 2009, Hebei ternary construction pasteurized milk, Yogurt And milk Pavilion project, which in Shijiazhuang City, 100 tons of yogurt, pasteurized milk production line investment of 55 million yuan; addition Hebei has invested more than 1000 million triple in Shijiazhuang to build a 300 milk booths, the development of direct sales.

Addition to investment, triple the market also invest to a large cost, triple the annual report said shares, as soon as possible to seize the market, Hebei ternary products shop in the city established sales force and other aspects of the expansion into higher sales costs . Second half of 2009, Hebei ternary increased advertising.

Addition, Hebei Sanlu Group Three received more than two thousand former employees, combined with the early market development needs of some staff input, resulting in high labor costs, per capita sales and per capita than low input and output. Some media with "carrying a Sanlu race" to describe the plight triple.

For the loss of reason, Agricultural Advisory Co., Ltd. Beijing Oriental Iger dairy analyst Chen Lianfang that the integration of the original triple in the first year of Sanlu's assets would be more into really big, and will not produce quick benefits. In addition, the Hebei-based triple to milk business, 09 years ago, three quarters of low raw milk prices, milk big profits, but integration of ternary milk business just did not seize the opportunity to open markets, expand market share, missing the most good time.

Chen Lianfang said, is expected to triple by 2010 Hebei not very good day too, since the 4th quarter of 2009, prices of raw milk, squeezed profit margins.

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