[Epoch Times, June 10, 2022]Chinese pig company giant Zhengbang Technology recently announced that some of its commercial bills were overdue. This is the second time that the company has overdue commercial bills. As of the first quarter of this year, the current liabilities of Zhengbang Technology have exceeded 28.6 billion yuan. In recent years, the debt ratio of Chinese pig breeding enterprises has increased significantly.
In early trading on June 9, the share price of Zhengbang Technology once fell by nearly 8%. As of the close, it closed at 5.7 yuan per share, a drop of 7.32%.
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On the news, Zhengbang Technology issued an announcement on the evening of June 8, saying that due to the pig cycle, Zhengbang Technology and its many subsidiaries had some overdue commercial bills.
As of the disclosure date of the announcement, the overdue balance of Zhengbang Technology and its many subsidiaries totaled 542 million yuan.
This is the second time that Zhengbang Technology has overdue commercial bills. According to Sohu Finance and Economics, the Shanghai Commercial Paper Exchange previously disclosed that as of April 30, 2022, Zhengbang Technology had its commercial bills overdue for the first time, with an unpaid balance of 102 million yuan.
In 2021, among the five listed pig companies, Zhengbang Technology will lose 18.819 billion yuan, becoming the pig company with the largest loss. Muyuan shares will make a profit of 6.9 billion yuan in 2021, while Wen’s shares, New Hope Liuhe and Tianbang shares will lose 13.4 billion yuan, 9.6 billion yuan and 4.5 billion yuan respectively. In the first quarter of 2022, Zhengbang Technology was still at a loss, with a net loss of 2.433 billion yuan attributable to its parent.
Continued losses in operations have also increased Zhengbang Technology‘s debt pressure. As of the first quarter of 2022, the asset-liability ratio of Zhengbang Technology reached 97.03%, which is also the company with the highest asset-liability ratio among listed pig companies.
From the perspective of debt structure, Zhengbang Technology mainly focuses on short-term liabilities. As of the first quarter of 2022, the current liabilities of Zhengbang Technology have reached 28.681 billion yuan, and the non-current liabilities are about 12 billion yuan.
In addition to Zhengbang Technology, the debt ratios of other pig breeding companies in China have also increased significantly in the past two years.
21 Economic Net reported that according to statistics, the average asset-liability ratio of 25 listed companies in the pig industry in the first quarter of 2020 was 45.37%, which rose to 50.43% in the first quarter of 2021, and rose again to 60.05% by the end of the first quarter of this year. .
As of the end of the first quarter of this year, in addition to Zhengbang Technology‘s debt ratio of 97%, which ranked first, the debt ratios of Aonong Biotechnology and Tianbang Co., Ltd. also reached 89.92% and 83.67%, respectively.
Responsible editor: Li Bing#