On March 8th, on the interactive platform of the Shenzhen Stock Exchange, Qiaqia Food (002557), known as the "king of melon seeds", responded to investors' concerns. Recently, the Tariff Commission of the State Council issued an announcement on imposing additional tariffs on some imported goods originating from the United States. As the company imports part of its nut raw materials from the United States, the above situation is expected to have a certain impact on the company.
Qiaqia Food stated that its affiliated company, Nut Pie Agricultural Co., Ltd., has carried out the cultivation of macadamia nuts and pecans in China. It is expected that after reaching full - production, it will replace 10 - 20% of the company's nut supply.
Source of picture: Screenshot from the interactive platform of the Shenzhen Stock Exchange
According to Qiaqia Food's performance bulletin, in 2024, the company achieved a total operating revenue of 7.131 billion yuan, a year - on - year increase of 4.79%; the net profit attributable to shareholders of the listed company was 852 million yuan, a year - on - year increase of 6.19%.
Qiaqia Food said that in 2024, the company intensified channel refinement, continuously improved terminal coverage, strengthened cooperation with snack retail stores, promoted the expansion of new channels such as membership stores, and achieved continuous breakthroughs in the overseas market; the market scale of the high - end melon seeds "Kuizhen" continued to expand, the flavored nut products continued to innovate and break through, and the sales volume of nut gift boxes continued to increase, resulting in the overall growth of the company's performance.
However, some viewpoints believe that the company's simultaneous increase in revenue and net profit this time may be due to the low base in the previous year. It is known that Qiaqia Food's performance was under pressure in 2023, and the decline in the net profit attributable to the parent company was as high as nearly 18%.
It is worth noting that at the end of October last year, Qiaqia Food's third - quarter report showed excellent results, which was the best in nearly six years, with a year - on - year increase of 6.24% in revenue and a year - on - year increase of 23.79% in net profit.
At that time, a research report from a securities firm analyzed that the increase in the company's gross profit margin was mainly due to the significant decrease in the prices of raw materials such as sunflower seeds compared with the same period last year, and the cost dividends continued to be released.
Although the performance bulletin showed positive growth, Qiaqia Food's stock price has been falling continuously. On the investor interactive platform, the company's stock price performance has also been frequently questioned.
Facing doubts such as "the stock price has fallen terribly" and "is there any major negative news not disclosed?", as of the time of publication, Qiaqia Food has not responded yet.
As of the close on March 7th, Qiaqia Food's stock price was reported at 25.90 yuan per share, with a cumulative decline of 19.21% in the past year. The company's total market value is 13.102 billion yuan.
Source of picture: Screenshot from the interactive platform of the Shenzhen Stock Exchange
In addition, it is worth noting that on November 12, 2024, Qiaqia Food issued an announcement on the first - time grant of stock options to incentive objects.
The announcement showed that on November 11, 2024, the company granted a total of 4.18 million stock options for the first time, accounting for 0.82% of the company's total share capital of 507 million shares. The grant price was 19.97 yuan per share. The grantees this time were 29 incentive objects, including the company's directors, senior management, and core employees.
According to the incentive plan, in the next three years, the incentive objects need to meet certain performance assessment requirements to exercise the options. Specifically, based on 2023, the growth rate of the main business revenue in 2024 should not be less than 10.8%, not less than 25.9% in 2025, and not less than 43.3% in 2026. If the assessment standards are not met, the stock options of the incentive objects will be cancelled. In addition, the company will recognize relevant share - based payment expenses during the implementation of the incentive plan, which will have an impact on the future financial situation.
Judging from the performance bulletin data announced by the company, the performance in the exercise period in 2024 did not meet the standards.
The failure of the incentive plan in the first year has also attracted wide attention from investors. Qiaqia Food said that the actual completion of the performance assessment target in 2024 in the company's stock option incentive plan shall be subject to the audited data of the company. In 2025, the company will continuously carry out product innovation, marketing innovation, channel innovation, and activate the organization, and continue to strive for this year's performance target.
Source of picture: Screenshot from the interactive platform of the Shenzhen Stock Exchange